A widely followed analyst known for applying the stock-to-flow (S2F) model to Bitcoin is unveiling his price target for BTC this month.
In a new interview with trader Scott Melker, pseudonymous analyst PlanB say that Bitcoin could rise to $150,000 in December, a gain of more than 53% from its current value.
“It’s almost frightening that it’s happening again.
It seems programmed: three years of boring bear markets and then a year of FOMO (fear of missing out) and meltdown bulls.
And so it has been in all previous cycles. So if history is any guide, we will see that again. And I definitely think we’ll see that again. So indeed $100,000, if not $150,000, somewhere in between for this month, December.”
He also says that based on historical precedence, Bitcoin could continue to make a series of rallies that will see new all-time highs until at least June.
“Again, if history is any guide, Bitcoin returns are not normally distributed. So it’s not like we’re going to have an all-time high and then a bear market and an all-time high and a middle ground.
No, it’s all-time high after all-time high after all-time high. It’s very clustered. So maybe six to 12 months of real bull market action.”
Bitcoin is trading at $97,677 at the time of writing, down 2% in the past 24 hours.
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