In this week’s trading hours, the price of Bitcoin has fallen below $50,000, and fell to a low of $47,555 last Friday. Plan B, the popular creator of the stock-to-flow (S2F) Bitcoin price model, discussed the recent price decline and emphasized that “there is no straight up”. Plan B believes that this price drop may be a “halfway drop”, similar to the crypto bull market in previous years.
Plan B says: “Looks like a dip in the water”
In the first week of March, Bitcoin.com News reported on Plan B’s popular but controversial stock float (S2F) price model. In the report, Plan B is very confident that the price of BTC is 26% higher than the model. It is believed that the S2F price model can predict that the price of Bitcoin will reach a six-digit price range in the future. However, since this report in March, the price of BTC has fallen by -26.72%, after the historically highest price of the crypto asset was $64,895 per unit.
Plan B did not seem to be affected by the price drop. After the price drop, the S2F creators tweet.
“There is no straight up. As of this month, Bitcoin has been rising for six consecutive months. This looks like the midway decline we saw in 2013 and 2017.” Plan B emphasized. Many people agree with the S2F creators because they think this decline is only temporary.
“On time,” Tweet Kraken held a response to the plan B evaluation tweet on behalf of Dan.
In fact, recently, Bitcoin’s S2F model has once again become a hot topic. “So let’s take a look at the S2F model of Plan B,” said a recent person named Waro. write. “As you can see, Bitcoin has always been in a bear market period in the middle of the bull market cycle, and we have seen a correction of at least 40%. This is very consistent with the untapped liquidity left by the Elon pump.” He added.
Financial reporter Wu Blockchain also talked about the S2F model this week.Wu Blockchain Remarks:
According to Crypto Quant’s S2F Reversion data, following the sharp decline of Bitcoin, the index plummeted to 1.827126. Compared with the decline of Bitcoin, the index has fallen more sharply. [which may imply] A reliable buying opportunity.
The latest survey of Plan B shows that 44% of voters believe that Bitcoin will reach $100,000
A group of cryptocurrency supporters believe that the value of Bitcoin should be expected to fall during the bull market, and people still believe that the six-digit Bitcoin price is coming.
“A 10%-30% drop is expected in any Bitcoin bull market [and] Exactly what happened in 2017 [and] In 2012, “Plan B fans” Say On Twitter. “At present, the price of BTC has fallen to the exact price level predicted by BTC. [Plan B’s] S2F model, so [it] He is still expected to reach $100,000 in September. “He added.
In addition, Plan B conducted a survey on Twitter, which has received 67,881 votes since April 24, 2021. The survey asked people for their views on the S2F model, and the future BTC price may be realized.
“Do you think Bitcoin will reach USD 500,000, USD 288,000 (S2FX model) or USD 100,000 (S2F model) before December 2021… Or will BTC stay below USD 100,000?” Plan B ask His 405,000 Twitter followers.
44.6% of the box office was 100,000 U.S. dollars, 25.5% of the box office was 288,000 U.S. dollars, and 21.8% of the box office prices remained below 100,000 U.S. dollars. Of the 67,881 votes, 8.6% predicted that the price could be as high as $500,000 per Bitcoin (BTC).
What do you think of Project B’s recent tweets about Bitcoin price decline and the S2F model? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Plan B, Twitter,
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