After reaching an all time high of $69K, bitcoin’s price fell below $60K this month. The pseudonymous bitcoin analyst and the creator of the bitcoin price model called stock-to-flow (S2F), Plan B, called the last three months of bitcoin prices correctly but the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the recent bitcoin price drop, Plan B still seems confident bitcoin’s price is “on track towards $100K.”
Plan B’s Bitcoin Price Prediction for November Misses the Analyst’s $98K Give us a call
Bitcoin analyst, the infamous and feared pseudonym. Plan BIt is highly respected by bitcoiners. Since October 2017, he has amassed 1.5m Twitter followers. Plan B is the creator of the popular bitcoin price model called stock-to-flow (S2F), which quantifies the commodity’s (bitcoin) scarcity and then divides it by yearly issuance (the flow). This month, however, one of the calls he made was not successful in predicting bitcoin’s (BTC) prices.
It all began with Plan B, four months earlier. tweeted about his “worst-case scenario for 2021” forecast in June. Plan B stated that he believed BTC prices would be “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K” in the worst-case scenario.
His monthly price forecasts have all been successful so far. : “$64K was not the top.” The miss this month was the first time Plan B’s prediction has been off so far as the call for November had a $98K target.
Plan B Recognizes the November Price Prediction Missed
Plan B admitted that his prediction was wrong as bitcoin prices (BTC), fell below $60K after the $69K ATH. “Floor model $98K [November]After nailing August, Sep, and Oct, close is likely to be a first miss. S2F model not affected and indeed on track towards $100K,” Plan B stressedHis 1.5 million followers, November 25.
The tweet was liked by more than 39,000 Twitter accounts and shared nearly 5,000 times. Correctly forecasting three out of four predictions is very good and Plan B’s followers are curious about what the price will be for the month of December.
Two days later, the pseudonymous bitcoin analyst tweeted about the crypto asset’s relative strength index (RSI). “Bitcoin RSI 66 and 10% below monthly close ATH,” Plan B said. On the next day, Plan A noted that “bitcoin has better risk-adjusted returns than all other assets.”
A poll was also developed by the analyst. It has only 19 hours to go, and so far, has received 142.490 votes. This poll asked if $69K was the highest for the halving cycle, or if bitcoin’s price (BTC), will surpass the $69K ATH on November 10. Stats from Plan B’s poll indicate that at the time of writing, 78.4% think BTC’s price will surpass $69K while 21.6% voted that “$69K was the top.”
How do you feel about Plan B’s November prediction not being met, but accurately forecasting three months before? Is bitcoin headed to $100K, or $69K as the top? Please comment below on your views.
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