Bitcoin’s price closed in September at a lower level than it did in August. While this may seem like a negative event for BTC bulls, popular cryptocurrency analyst PlanB saw this happen months ago and predicted the exact closing price.
Furthermore, he provided even more favorable prices for the end of October, November, and December.
Bitcoin will close October near ATH?
BTC has been on a roller coaster ride in recent months after the peak, which it hit in mid-April of $ 65,000. The subsequent retracement, caused initially by Elon Musk and later by the latest Chinese ban on the crypto industry, drove the asset south hard. Over the following months, bitcoin had lost over 50% of its value and fell below $ 30,000 on numerous occasions.
The latest such example came in late July when BTC went all the way down to $29,000. Since then, however, the tides have turned quite decisively.
PlanB, the popular crypto analyst behind the stock-to-flow model, saw these developments early on. In June, it released a chart showing that its “worst case scenario” for this year based on price and chain measures predicted this “weakness” in July.
Later on, he envisioned that BTC’s price will end August at just over $47,000, which it actually did. The price line for September was slightly lower – at around $ 43,000, which also happened.
Keeping in mind his accuracy, it’s worth pointing out that his October closing prediction is at $63,000. If bitcoin were to reach this level, the asset would be just below its all-time high ($ 65,000). For November, he sees BTC at $98,000, while for December, the price tag would be $135,000.
Nothing to do with S2F
PlanB is perhaps best known in the cryptocurrency community as the creator of the stock-to-flow model and its variants, which also see BTC entering six-figure price territory by the end of this. year.
However, the analyst made sure to distinguish the difference between the S2F prediction and his aforementioned worst-case scenario.
Nonetheless, PlanB updated that the closing price of $ 43,834 in September also worked “like clockwork” for the stock-to-flow model.
Although BTC stands more than halfway away from the coveted $100,000 mark, the number of analysts and prominent names envisioning such an increase in the next few months continues to grow. The latest to come with such a number include co-founder of Northstar and Badcharts, CEO of Chainalysis, Adam Back and Mike McGlone of Bloomberg.
