RATE Group | PlanB: $1,000,000 BTC Prediction on Track Despite Crypto ‘Panic’ – Bitcoin, XRP, Ethereu…
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PlanB: $1,000,000 BTC Prediction on Track Despite Crypto ‘Panic’ – Bitcoin, XRP, Ethereu…

23 Nov PlanB: $1,000,000 BTC Prediction on Track Despite Crypto ‘Panic’ – Bitcoin, XRP, Ethereu…

Posted at 22:50h in Ethereum News by

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From a response to “panic” over Bitcoin’s big move to the downside to an update on Ethereum 2.0, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A prominent crypto analyst who burst onto the scene after adapting the stock-to-flow ratio to Bitcoin says this week’s steep drop in the price of BTC hasn’t changed his outlook.

Stock-to-flow is traditionally used to forecast the future value of precious metals. It tracks the circulating supply of an asset against the amount of new supply hitting the market.

The model has proved extremely accurate for tracking Bitcoin’s past price action and according to the anonymous analyst PlanB, BTC remains on a path toward $100,000 sometime around the year 2021 and $1 million around 2025.

“Some people [are] panicking about this -17% week. It’s just normal Bitcoin behavior.

Note, we are still up 2x YTD. And yes, S2F model is just fine, nothing out of the ordinary.”

Source:…

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