PlanB has been a household name in the cryptocurrency world for years. The Dutch analyst is famous for it stock to flow (S2F) that shows the price bitcoin (BTC) has been able to predict with amazing accuracy. However, since the beginning of the bear market, it seems that the correct forecast has come to an end. However, PlanB itself still firmly believes in its S2F model.
Bitcoin is back on the right track.
Over the past week, Bitcoin price has managed to make a significant increase. Since March 10, it has been a king’s course Digital currencies Already by almost 40%. At the time of writing, BTC price is fluctuating around $27,440.
Last week was the most successful week for the Bitcoin price in almost two years. In seven days, it became the best performer among the world’s 25 largest assets: BTC’s price continued to climb, reaching levels not seen since June 2022. Today, March 18, 2023, in the early morning hours, its price reached nearly $28,000 in Major instant exchanges.
New All-Time Highs for Bitcoin?
As a result of this increase, sentiment in the market has returned to some extent. PlanB is also very optimistic. According to him, the recent increase means that Bitcoin price Back on track to eventually reach the price levels he would expect in the S2F model.
# BitcoinBounce back towards the dark blue area of the arrow to the flow rubric. Hate it or love it, half is coming. A (new) Tripple summit in the current cycle isn’t out of the question, IMO.https://t.co/lZXhhMJ1I4 pic.twitter.com/0qFuLgTG3f
– PlanB (@100 trillion USD) March 18, 2023
#Bitcoin is bouncing back into the stock dark blue area of the valuation model flow. Hate it or love it, de half at. Triple topping (new ath) in the current cycle is not impossible, IMO.”
If this prediction from the S2F model eventually turns out to be correct, Bitcoin will have to reach a new high before April 2024. Previous high all the time on November 10, 2021 at a point price of $68,789.
Blanc B admitted he’s not 100% sure of his condition, but he’s cautiously optimistic.
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