- PlanB states that his algorithms predict a 700 percent surge in Bitcoin by early next year.
- The analyst expects the cryptocurrency to surpass all other assets.
While central banks in Europe and the US look unwilling to hike interest rates, equities and cryptocurrencies are surging. However, market investors see low-interest rates as a positive for riskier assets, despite intentions to soften monetary policy.
As investors rushed to cryptocurrencies amid inflation fears, bitcoin reached fresh highs on Monday. The primary cryptocurrency suddenly soared, with the Bitstamp site reporting a BTC price of above $67.8K. Recently, the overall cryptocurrency market worth reached $3 trillion, with Bitcoin accounting for 43.6 percent.
Revised BTC Price Forecast
Analyst PlanB has revised his Bitcoin (BTC) price forecast for the first quarter of 2022, outlining when he expects the cryptocurrency to surpass all other assets. In an interview with Bitcoin bull Anthony Pompliano, PlanB states that his algorithms predict a 700 percent surge in Bitcoin by early next year.
“I guess we will be above $100,000, above $135,000 at the end of the year, and then we’ll continue to grow maybe towards to stock-to-flow X (S2FX) model target [at] $288,000 or even above. I would not be surprised even to see in Q1 in Q2 next year prices of $300,000, $400,000 [or] $500,000.”
He thinks the pinnacle is at least six months away. So that concludes Q1. PlanB’s stock-to-flow cross-asset model (S2FX) studies Bitcoin’s shift from proof of concept to a financial asset to value it. PlanB predicts a parabolic rise in Bitcoin between 2024 and 2032. According to CoinMarketCap, the Bitcoin price today is $67,870.82 USD with a 24-hour trading volume of $41,891,156,143 USD. Bitcoin has been up 3.59% in the last 24 hours.
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