Bitcoin has now finally broken the barrier it has been trading since the beginning of 2022. In early January, Bitcoin rocketed to $47,000 for the first time after rising 5%. But the bulls couldn’t hold the position for too long and went back. However, in the month of March, the bulls were back in charge and have never stopped since. The currency has seen nearly $10,000 rise in the past two weeks.
At the time of writing, Bitcoin price is trading at $47,573 with an increase of 0.89% in the last 24 hours.
Price Bitcoin (BTC) To See $100k Soon?
A Popular Crypto Analyst plan B with over 1 million followers on Twitter, providing the price prediction of the Stock-to-Flow (S2F) model last year, it has remained highly popular and controversial.
A pseudonymous crypto market quant claims in a recent tweet that PlanB’s S2F model representing the colors associated with the graphics is being misrepresented. Further adds that according to past events, when the chart indicated a green zone in 2014 and 2018, the Bitcoin price has crashed.
On the other hand, Plan B clarifies the misconception by saying that:
“Some people think that because bitcoin crashed on the green in 2014 and 2018, BTC will crash on the green again in 2022. But this could be a coincidence… S2F says nothing about WHEN BTC will pump or crash.”
However, S2F continues to be criticized. Today, in an article published in Bitcoin Magazine by a guest author, Harold Christopher Burger, a software engineer and researcher, calls PlanB’s S2F model too optimistic and says the model will fail.
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Meanwhile, Burger is also bullish on Bitcoin, where he expects Bitcoin to have better days ahead. Burger predicts that Bitcoin will reach $100,000 by 2028 and $1 million by 2037.
Nevertheless, PlanB is quite confident in the approach of its S2F model, but he also says he could be wrong. Interestingly, it’s just not PlanB, there are many other bullish models in the Crypto market. Market participants such as Antoni Trenchev, founder of Nexo, are looking forward to the price of Bitcoin reaching $100k by the end of 2022.