 | For those unaware of who PlanB is, he's brought to us the stock to flow model for bitcoin and the chart below is what he is most know for. For full info on what this actually is check out here https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12 Back in 20th June earlier this year PlanB wrote this - Bitcoin is below $34K, triggered by Elon Musk's energy FUD and China's mining crack down(LOL China again!). There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K August and Sept have followed his price model. Oct has started with a flyer and at this rate could be there mid month. And, these are the minimum prices for bitcoin in those months so they will close higher for each month. Hopium to the extreme? Roll on December! [link] [comments] |
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