Skip to main content

Plan B Says Bitcoin Price Still ‘on Track Towards $100K’ Despite Missing November’s Price Prediction

https://motleybloggers.com/wp-content/uploads/2021/11/plan-b-says-bitcoin-price-still-on-track-towards-100k-despite-missing-novembers-price-prediction.jpg

This month, the price of bitcoin sank below the $60K zone this month after reaching an all-time high (ATH) at $69K per unit. The pseudonymous bitcoin analyst and the creator of the bitcoin price model called stock-to-flow (S2F), Plan B, called the last three months of bitcoin prices correctly but the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the recent bitcoin price drop, Plan B still seems confident bitcoin’s price is “on track towards $100K.”


Plan B’s Bitcoin Price Prediction for November Misses the Analyst’s $98K Call





The infamous pseudonymous bitcoin analyst Plan B is well respected among bitcoiners and has amassed 1.5 million Twitter followers since October 2017. Plan B is the creator of the popular bitcoin price model called stock-to-flow (S2F), which quantifies the commodity’s (bitcoin) scarcity and then divides it by yearly issuance (the flow). The analyst has done well as far as bitcoin (BTC) price predictions are concerned, but this month one of his calls missed.




It started four months ago when Plan B tweeted about his “worst-case scenario for 2021” forecast in June. Plan B stated that he believed BTC prices would be “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K” in the worst-case scenario.








So far three out of four of his monthly price predictions have come to fruition and Plan B was also correct when he said: “$64K was not the top.” The miss this month was the first time Plan B’s prediction has been off so far as the call for November had a $98K target.





Plan B Acknowledges November Price Prediction Missed





Plan B acknowledged that his prediction missed this month as bitcoin (BTC) prices slid under the $60K zone following the recent $69K ATH. “Floor model $98K [November] close will probably be a first miss (after nailing Aug, Sep, Oct). S2F model not affected and indeed on track towards $100K,” Plan B stressed to his 1.5 million followers on November 25.




More than 39,000 accounts on Twitter liked the tweet and it was shared close to 5,000 times. Correctly forecasting three out of four predictions is very good and Plan B’s followers are curious about what the price will be for the month of December.




Two days later, the pseudonymous bitcoin analyst tweeted about the crypto asset’s relative strength index (RSI). “Bitcoin RSI 66 and 10% below monthly close ATH,” Plan B said. The following day, Plan B noted that “bitcoin has better risk-adjusted returns than all other assets.”




Plan B Says Bitcoin Price Still 'on Track Towards $100K' Despite Missing November's Price Prediction




The analyst also created a poll, which has 19 hours left, but so far has received 142,490 votes. The poll asks if $69K was the top for this halving cycle or if the price of bitcoin (BTC) will exceed the $69K ATH reached on November 10. Stats from Plan B’s poll indicate that at the time of writing, 78.4% think BTC’s price will surpass $69K while 21.6% voted that “$69K was the top.”




What do you think about Plan B missing the November prediction but correctly forecasting the last three months prior? Do you think bitcoin is headed for $100K or do you think $69K was the top? Let us know what you think about this subject in the comments section below.



Origina post from
https://motleybloggers.com/plan-b-says-bitcoin-price-still-on-track-towards-100k-despite-missing-novembers-price-prediction/

Comments

Post a Comment

Popular posts from this blog

A Jacobin Podcast Review: Critiques on Crypto and Sterlin’s Response

https://motleybloggers.com/wp-content/uploads/2022/01/a-jacobin-podcast-review-critiques-on-crypto-and-sterlins-response.jpg The following opinion editorial is a Jacobin Podcast review written by the author Sterlin Lujan , the chief risk officer with Cryptospace. The Jacobin Podcast episode called: “ Dig: Cryptocurrency w/ Edward Ongweso Jr & Jacob Silverman, ” touches upon “cryptocurrency, NFTs, Elon Musk, the metaverse, meme stocks, and techno-utopianism amid the crushing reality of our neoliberal hellscape.” Cryptocurrency isn’t fringe technology anymore. Over the last decade, it has become embedded into finance, culture, and even our social life. It’s drastically changing the way we think about money, economics, and human action. However, some people, primarily on the left, are skeptical of cryptocurrency. Many of them hate it, regardless of how much of a godsend it has been for many. My friend, thought leader, author, and psychedelic visionary, Daniel Pinchbeck, pointed out a
Post a Comment
Read more

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. Nigerian Crypto Traders Get Creative Still, the increasing trades on informal platforms have also led to increased reports of users losing money to con artists. Moreover, with the CBN seemingly eager to see volumes of crypto trades plummet, Nigerian users had to find ingenious but legal ways of getting around the central bank’s imposed restrictions. As shown in one local report , one such legal way is through an app created by one local crypto start-up, Patricia. According to the report, this application is already enabling Nigerian users to buy or sell their crypto assets securely and without running afoul of CBN regulations. Therefore, in this report, we relis
Post a Comment
Read more

‘Bitcoin Is Dead’ Google Searches Skyrocket, Bitcoin Obituaries Records 15 Deaths This Year

https://motleybloggers.com/wp-content/uploads/2022/06/bitcoin-is-dead-google-searches-skyrocket-bitcoin-obituaries-records-15-deaths-this-year.jpg According to the Bitcoin Obituaries list, bitcoin has died 15 times in 2022, and the last obituary written about bitcoin’s death was on June 18, in a recent statement that said: “Bitcoin Will Not Recover.” Interestingly, Google Trends data shows that the search phrase “bitcoin is dead,” is estimated to hit an all-time high this week. The Old Saying ‘Bitcoin Is Dead’ Comes Back to Life In recent times, you may have heard the phrase “bitcoin is dead,” or something similar. A great number of people truly believe that bitcoin is dead while many believe the crypto asset is the future of money. The past two weeks have been gruesome for bitcoin as prices dropped to a low of $17,593 per unit. The analytics company Glassnode shows the losses during the last three days have been massive. “The last three consecutive days have been the largest USD deno
Post a Comment
Read more