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Can Bitcoin reach 6-digit prices? If available, when? The biggest psychological resistance that the leading crypto has not tried before is $ 100,000, according to PlanB, it can be broken by the end of the year. The analyst says that if it is not broken, the S2F model, which he is the inventor of, will become invalid. Another analyst published short-term Bitcoin technical analysis on Tone Vays. Let’s take a quick look…

These levels are expected before $65,000 in Bitcoin (BTC):

Senior analyst Tone Vays believes that Bitcoin (BTC) is poised for a big breakout in the next few weeks. In a recent price action update, the analyst told YouTube subscribers that he thinks the next short-term target for BTC is $52,000. Vays is expecting fireworks when the largest cryptocurrency by market cap reaches this level:

I continue to believe that once we break $52,000, we will hit $65,000 very quickly. Then we’ll probably pull back a bit into the low-$50,000 range, and then experience a monster paddling speeding up like burning gasoline the moment we get above $65,000.

Vays notes that Bitcoin has recently had a “golden cross” where the short-term trading average (MA) is above the long-term trading average. A technical pattern is often seen as an indication of a breakout on the horizon:

We did the golden cross. And I believe that in the coming weeks we will rise above all movementollary averages and approach new highs and then all-time highs.

As for key levels to watch, Vays identifies $41,000 as a crucial support level to hold:

I believe the probability of holding this low ($40,238) and also this low ($41,677) is more than 50%. I believe we are about to go up and I know I am wrong if the Bitcoin price drops below ($41,000)… I will continue the very, very bullish trend as long as Bitcoin stays above $41,000 tonight and especially if Bitcoin can break above the $43,500 swing high.

PlanB thinks BTC price will be 6 digits by the end of the year

Expert crypto analyst PlanB believes that despite the recent meltdown in crypto markets, Bitcoin will reach a six-digit price by the end of the year. PlanB tells its 833,000 Twitter followers that, based on the stock-to-flow (SF2) model, BTC will close at $100,000 or above in December. However, based on logarithmic regression or time pattern, the quantitative analyst says that the leading cryptocurrency could drop to $30,000.

So what will be the December closing price of Bitcoin (BTC)? – The S2F model says $100,000. – The time model (logarithmic regression) says $30,000. The next few months will be interesting. My money is in S2F of course.

In the case of Bitcoin, the stock-to-flow model attempts to predict the price of Bitcoin by measuring the amount of new supply that enters the market each year compared to the amount of supply that already exists. The time model, or logarithmic regression, on the other hand, aims to predict the price of Bitcoin based on the assumption that growth will accelerate rapidly before slowing down over time. According to Coinmarketcap, Bitcoin was trading around $42,482 at the time of writing. PlanB also says, in response to backlash about its prediction, that the stock-to-flow model will be invalid if Bitcoin does not reach a closing price of $100,000 in December:

Price must increase > 100,000 (to make 100k average) or s2f is dead.


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Michael Lewis

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