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Bitcoin forecast: price is set to crack USD 100,000 this year

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Bitcoin near $ 100,000? Analyst has “no doubts”

According to the analyst PlanB, the Bitcoin price will crack $ 100,000 this year.

According to the analyst PlanB, the Bitcoin price will crack $ 100,000 this year.

Photo: Getty Images / ATPPhotos

Updated: 08/17/2021 – 6:45 PM

A Bitcoin forecast by the analyst PlanB is currently making waves. He is certain: The Bitcoin price will crack $ 100,000 this year.

Bitcoin (BTC) has just passed the $ 45 threshold. However, some analysts seem certain that it will rise much further this year. The Dutch analyst PlanB is at the forefront. If you give him Bitcoin price forecast Believe it will climb to more than $ 100,000 in 2021.

Bitcoin forecasts: “Stock-to-Flow” should simplify them

In the area of ​​crypto, but especially Bitcoin forecasts, statistical guide values ​​play a not insignificant role. Because although the digital currencies are extremely volatile, their rates also develop in part according to patterns. The best way to see the well-being is by looking at the Bitcoin price.

The so-called stock-to-flow (S2F) principle is often used to explain it. This roughly means that monetary goods such as BTC correlate with their S2F rate. This is the relationship between the existing and the additional money supply – i.e. the supply and the flow. The higher the supply is in relation to the inflationary flow, the higher the S2F rate.

In the case of the Bitcoin price, the application of this principle results in a relationship that cannot be denied.

Bitcoin price: $ 100,000 by the end of 2021?

“I never had any doubts,” explains PlanB in an interview with analyst and YouTuber Benjamin Cowen. “I still believe Bitcoin will hit at least $ 100,000 by the end of this year. And there is still plenty of time. We’re at $ 40,000 right now. That’s 2.5 times that. Historically, we’ve been in a or two months more. “

Even with its most recent jump to more than $ 47,000, Bitcoin price appears to be supporting the S2F hypothesis. If this continues to be true, PlanB’s Bitcoin forecast could be quite realistic. Due to the high volatility of cryptocurrencies and the political situation that is currently turning against them in many countries, this cannot be said with certainty.

Even in Germany there is disagreement about the future of how to deal with cryptocurrency. On the home stretch for the 2021 federal elections, the Left Party’s parliamentary group has now also taken a stand and in parts has spoken out in favor of a ban on Bitcoin, Ethereum and Co.

Source: YouTube / Benjamin Cowen

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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