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If the Bitcoin price cracks $ 100,000, then …

The oldest cryptocurrency showed us at the end of last year that it can break resistance over the long term. Accordingly, our prices are now in areas that new investors would never have dreamed of. But if you go according to PlanB’s stock-to-flow model, there are a few more zeros in this year. Or at least one.

Because according to PlanB’s stock-to-flow model, the Bitcoin price could break the 100,000 US dollar mark this year. But what does this mean for Bitcoin investors and for Bitcoin itself?

New highs in the second half of the year

Bloomberg Intelligence commodity analyst Mike McGlone explains in the Bloomberg Intelligence report that the path of least resistance for Bitcoin price is beyond $ 100,000.

“After a devastating correction, we see the crypto market in a better position to resume its uptrend than to drop below the lows of the 2nd quarter. What could keep Bitcoin and Ethereum from hitting new highs in the second half of the year is a difficult question to answer. Increasing demand and acceptance contrast with a decreasing supply. “

In short, it is much more likely that BTC and ETH will make new all-time highs than that we will close 2021 below current prices. The more reliable the Bitcoin price (and the trailing Altcoin prices) behave in accordance with the macroeconomic cycles, the stronger the trust on the institutional side could become. As a result, the Bitcoin price of 100,000 US dollars could not only make some Bitcoin investors richer, but also sustainably strengthen trust in the digital asset.

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Gold and bonds are nothing without crypto

But a much more interesting finding is the following:

“We see Ethereum on its way to $ 5,000 and $ 100,000 for Bitcoin. Portfolios with a combination of gold and bonds appear increasingly insecure without the addition of Bitcoin and Ethereum. A decline in macroeconomic risk is a major threat to the crypto bull market. “

In an interview, Scott Melker, podcaster and trader, explained that the ongoing financial packages – especially in the US – will likely encourage more people to buy than to sell cryptocurrencies. So we are not only seeing the adaptation and adoption of Bitcoin and Co., but also a weakening of the traditional financial markets at the same time. While this is not the first time we have faced a rise in global inflation, it is the first time that we have had an interesting alternative.

“We’re talking about printing over a trillion dollars from scratch to pay for an infrastructure bill that has absolutely nothing to do with cryptocurrencies. But the one cryptocurrency regulation frozen the bill for three or four days. And the whole world was talking about Bitcoin and the crypto industry. That is a certain irony. “

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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