Despite missed prediction, ‘Plan B’ sticks to Bitcoin target of $100,000

CryptoSlate

If the accuracy of the crypto market movement predictions are something you have ever wanted, then the infamous pseudonymous Bitcoin analyst Plan B should come to mind going by his recent predictions in which three out of four met the target.

Plan B’s Bitcoin price prediction

Four months ago, Plan B, using his stock-to-flow price model, predicted that the value of Bitcoin during the months of August, September, October, November, and December would be in the range of $47k, $43k, $63k, $98k, and $135k, respectively.

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Surprisingly, his prediction for the first three months came true as the value of the digital asset was well above his predicted price at the end of October.

With many expecting an onward journey in the price of Bitcoin for the month of November, the volatile nature of the asset kicked in leading to a mass sell-off culminating in a rapid decline back to the $50k levels.

This massive drop in value resulted in the first missed Plan B prediction for the asset’s value for the last 5 months of the year.

Plan B insists Bitcoin will finish the year at $100k

Despite his November prediction missing the mark by a while, Plan B has insisted that Bitcoin’s price is still on its way to finishing the year at $100k. He made this revelation in one of his recent tweets where he stated that “S2F model not affected and indeed on track towards $100K.”

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Plan B subsequently tweeted days after about the relative strength index (RSI) of Bitcoin saying that “Bitcoin RSI 66 and 10% below monthly close ATH” before adding that “Bitcoin has better risk-adjusted returns than all other assets.”

Plan B is an infamous Bitcoin analyst that is highly respected in the crypto community. His pseudonymous Twitter page was created in October 2017 and has gained around a 1.5million followers. 

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Author: Oluwapelumi Adejumo


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