Bitcoin chart has been updated and the first red dot appeared 3 years later!

0

The cryptocurrency analyst PlanB, which has gained a reputation for its stock-flow (S2F) chart, said its model has signaled an unprecedented bull run since 2017. Successful analyst, who has 105 thousand followers on Twitter, made a new update on the S2F model.

As is known, the S2F model calculates its value by dividing the amount of an asset in circulation by the amount produced annually. The model is used to calculate the true value of precious metals such as gold and silver. PlanB’s model shows that with the decrease in BTC’s supply rate over time, the stock-flow rate of Bitcoin has increased. The analyst also points out how Bitcoin closely monitors the S2F rate. As it is known, these points represent the monthly closing prices of BTC.

The red dot appeared for the first time after 3 years in the graphic updated by the analyst. The red dot marked the beginning of a bull season whenever it ever appeared. However, although the red dot has been a precursor to price increases historically, there is no guarantee that this will happen again.

Based on the analysis it has created, PlanB thinks that BTC will be 100 thousand dollars by 2021 despite all price fluctuations.

See Also
Nasdaq company, $ 250 million in Bitcoin and gold

LEAVE A REPLY

Please enter your comment!
Please enter your name here