A widely-followed analyst known for applying the stock-to-flow model (S2F) to Bitcoin is unveiling his price target for BTC this month.
In a new interview with trader Scott Melker, pseudonymous analyst PlanB says that Bitcoin could surge to as high as $150,000 in December, a more than 53% gain from its current value.
[adinserter block="1"]“It’s almost scary that it is happening again.
It seems programmed: three years of boring bear markets and then one year of FOMO (fear of missing out) and face-melting bull action.
And it’s like that in all the past cycles. So if history is any guide, we’re going to see that again. And I certainly think we’re going to see that again. So indeed $100,000 if not $150,000, somewhere between that for this month, December.”
He also says that based on historic precedence, Bitcoin may continue to go on a series of rallies printing new all-time highs until at least June.
“Again, if history is any guide, the returns of Bitcoin are not normally distributed. So it’s not like we get an all-time high and then a bear market and an all-time high and some 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 for $97,677 at time of writing, down 2% in the last 24 hours.
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