Wednesday, September 22, 2021
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Bitcoin price at 100,000 USD – a look into the crystal ball

We keep reading bullish news regarding the Bitcoin price. $ 100,000 here by the end of the year, $ 250,000 there by March 2022. Michael Gronager, CEO of Chainalysis and co-founder of the crypto trading platform Kraken, spoke to Bloomberg about the potential of Bitcoin.

Anyone who has dealt a little with Bitcoin price predictions will be familiar with PlanB’s stock-to-flow model. According to this calculation, we can have every reason for bullish sentiment regarding the Bitcoin price. In addition, we see bullish signs everywhere in the news – Bitcoin adoption in El Salvador, with big banks and of course with the “plebs”.

For anyone new to the crypto space, however, the bullish Bitcoin price predictions can be extremely confusing. Therefore, this time we take a look at Michael Gronager’s Bitcoin price prediction and relate it to the stock-to-flow model in order to put the euphoric statements in a larger context.

Michael Gronager: Bitcoin price at USD 100,000

Speaking to Bloomberg, Michael Gronager said:

“I think we are still in the bull market. I think we can see over 100,000 by the end of the year so I’d be optimistic about that too. In the long run I would probably normally say that the moon is the limit, but we can also go beyond that. “

Gronager is therefore assuming a stable upward trend. But what is currently driving the Bitcoin price?

Probably not just from the bullish outlook in El Salvador, but above all from the advancing adoption and the natural market cycles. In order to invest securely in Bitcoin, however, as an investor you have to be able to evaluate these different facets of the development of the asset. And ideally, neither FUD nor exaggerated bullish statements convince you too quickly – do your own research.

So assuming a Bitcoin price of $ 100,000 by the end of the year, how realistic is this scenario? PlanB cannot predict the future either. However, by combining price analyzes with market analyzes, we can get quite close to different probabilities. And that is exactly what the stock-to-flow model is all about, which also predicts a Bitcoin rate of almost 100,000 US dollars at the end of the year.

Bitcoin Price: Stock to Flow Model

Assuming that the stock-to-flow model has so far been relatively precise with the forecasts, it is worthwhile to include this price forecast – even if it does not guarantee price increases. Roughly combined, without going too deeply into the details of the technical analysis, Gronager could be right with his statement.

Disclaimer of liability

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general informational purposes only. Any action that the reader takes based on the information found on our website is entirely at your own risk.

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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