A new survey launched by PlanB, the crypto analyst known as the first apply the stock-to-flow (S2F) ratio to Bitcoin, reveals where members of the crypto community believe BTC is heading.
In a tweet posted on Friday, the closely-followed PlanB asked his 115,000 followers on Twitter to place their bets on where BTC would land before the end of 2021.
The trader offered three price ranges between $55,000 and $288,00, which are based on the different iterations of his S2F model. The fourth and final choice of below $55,000 is based on other models not espoused by the crypto strategist.
Do you think #bitcoin will reach $288K (S2FX), $100K (S2Fv2), $55K (S2Fv1) before December 2021, or will BTC stay below $55K?
— PlanB (@100trillionUSD) July 3, 2020
The results of the survey suggest crypto traders are a bit skeptical of PlanB’s S2F model, which predicts Bitcoin surging as high as $288,000 in the next bull cycle. More than 60% of the respondents do not see BTC touching any of the price points predicted by the three S2F models within the next two years. Over 40% say they believe Bitcoin will not hit $55,000 before 2021 expires.
The survey indicates that at the current price of $9,118.92, nearly half of crypto Twitter sees a maximum upside of 450% for BTC in the next bull cycle.
That figure is a far cry from the gains of the 2013 bull market which witnessed BTC surge from $2.22 in 2011 to $1,163 in 2013 – a 52,287% rally, and the bull rally that propelled the king coin from $152.40 in 2015 to an all-time high of $19,666 in December 2017 – a 12,000% surge.
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