According to the analyst behind the popular stock-to-flow model, PlanB, Bitcoin’s price could increase by 60% in the next 30 days to close just shy of $100,000. He was dead on about the September BTC close price, and he came agonizingly close in October.
Bitcoin to hit $100,000 by the end of November?
PlanB is one of the most well-known cryptocurrency analysts, best known as the creator of the stock-to-flow model. The stock is defined as the size of existing reserves (or stockpiles), and the flow is defined as the annual supply of new bitcoins to the market.
As a result, PlanB’s model predicts that BTC will reach a six-digit price level by the end of the year, with the most optimistic prediction being $288,000 in the next 60 days.
His worst-case scenario is more modest, as it is not based on the S2F model. It also expects BTC to be worth more than $100,000 by the end of 2021, but the December target is $135,000, while the November target is $98,000.
If the primary cryptocurrency does indeed reach such a price tag by the end of November, its USD value would have to rise by roughly 60% from current levels. Although this appears to be a difficult task at first, BTC has previously demonstrated that it is capable of such movements. Bitcoin increased by more than 40% in October alone.
Oct $61K new monthly close ATH!✅
Ok ok, 3% rounding error .. close enough for me
Next targets: Nov>$98K, Dec>$135K🚀 pic.twitter.com/7LSnQBYJ33
— PlanB (@100trillionUSD) November 1, 2021
PlanB’s Price Prediction History
When providing the analyst’s upcoming price predictions, it’s also important to understand his track record in previous attempts. According to the aforementioned “worst case scenario,” bitcoin closed at $47,000 at the end of August before slightly retracing to $43,000 at the end of September.
Surprisingly, both forecasts came true. BTC closed at $61,000 at the end of October, while PlanB predicted $63,000. As a result, he acknowledged a 3% “rounding error,” but added that it’s “close enough for me.”
Many crypto insiders and even previous critics, such as the Wolf of Wall Street – Jordan Belfort, seem to believe that Bitcoin will skyrocket to $100,000 by the end of the year. He, along with Chainalysis CEO Adam Back and Anthony Scaramucci, predicts such a price line by December 2021.