The popular S2F model has indicated the exact date of Bitcoin reaching $100,000 and it falls to the next summer, August 16, 2021. This is evidenced by the popular Stock-to-Flow (S2F) model used in the gold market.
The chart was published by an analyst under the pseudonym Bit Harrington. He added that the value seems too high to him for such a period, but noted that Bitcoin has always gone against the bearish sentiment.
Analyst and undertake Mark van der Chase retweeted the message and explained why the prediction does not look impossible.
“A lot of people think it’s impossible, but I’ve seen 1,000% growth in less than a year at least twice in BTC history (in 2013 and 2017). S2F holds up pretty well after the halving. If the fear of lost profits resumes, anything is possible”, he wrote.
On the same day, analyst Plan B, who was the first to apply S2F to Bitcoin, presented a graph confirming that the latest BTC price movements were consistent with the applied model. According to his forecast, Bitcoin could close the month at around $14,000 for the first time since 2017.
The S2F model is based on the ratio of the asset’s market supply to its annual growth. Its main essence lies in the theory that the less often an asset, the more valuable it is.
Plan B suggested moving away from the USD BTC valuation and switching to gold. At the moment, one bitcoin is worth six ounces, and its price continues to rise.
Earlier, specialists from Weiss Crypto Ratings based on S2F predicted a Bitcoin rally to $70,000 by the middle of next year. Plan B stated that according to the model, the price of the cryptocurrency will reach $100,000 by its end.