The Bitcoin (BTC) recognized analyst PlanB said that it would be possible for Bitcoin to surpass $100,000 by 2021. This is according to the stock-to-flow model that the analyst closely follows.
In May 2020, Bitcoin is going to experience a new halving event that will reduce the new issuance of Bitcoin from 12.5 BTC to 6.25 BTC per block. This could eventually have an influence on the price of the most popular cryptocurrency.
Could Bitcoin Surpass $100,000?
In a recent conversation with Global Macro Investor founder Raoul Pal, PlanB mentioned he considered it is possible for Bitcoin to surpass the $100,000 mark.
Until now, the leading cryptocurrency reached an all-time high of $20,000 in December 2017. However, since that moment, Bitcoin remained traded below that level with a local peak in June 2018 close to $13,750.
PlanB is a Bitcoin investor that follows the stock-to-flow model in which he explains how Bitcoin price behaves.
The stock-to-flow (S2F) is the amount of the asset that is held in reserves divided by the amount produced every single year. In general, the commodities that have a higher stock-to-flow ratio are preferred by investors for their scarcity. Read More...