Bitcoin will reach $ 288,000, according to experts (if you believe in fairy tales)

Bitcoin will reach $ 288,000, according to experts (if you believe in fairy tales)

By Roberto D. | CryptoFarm | 4 Sep 2020


According to PlanB, the creator of the S2F (Stock-To-Flow) models, the BTC / USD exchange rate during the month of August would behave exactly as expected and, based on this assessment, it would be heading towards the $ 288,000 level and beyond (yes, you read that right).

All this, in a context in which concerns about the strength of fiat currencies are growing, and with European inflation now clearly heading towards the minus sign.

In particular, by analyzing the monthly closing price of BTC since the halving took place in May, PlanB observed that each stage was able to correspond to its forecast model.

On the S2F chart from May to today, BTC was therefore able to place its fourth red dot. And, if the performance that took place after the previous two halvings is replicated, then they should only be a few months away before a new price hike.

More specifically, according to the model, the current halving cycle should last four years, more or less like the previous ones, thus bringing the price of Bitcoin to $ 288,000. The absolute maximum value of the cryptocurrency, the analysis continues, however, could be much higher and, perhaps, equal to double, or more.

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Of course, even these forecasts can only be set in an extremely uncertain context such as the one we have been experiencing for a few months now, and that we will be forced to live for at least the whole of 2021.

The recovery of BTC, and its prices, occurs in conjunction with a series of not too favorable news on the central bank front, with the ECB declaring that inflation in the European zone is negative for the first time since 2016, precisely while there comes a huge injection of liquidity by the ECB itself, with the impression that it was this injection of extra money that pushed towards deflation.


What do you think of it? Do you agree with PlanB's predictions, or do you think this is realistically too high? Let me know yours in the comments

I report an old article of mine, with which you can prepare to collect some 
free BTC before the boom happens:
"The easiest guide to earn 10K Sat per day, every day"
(soon there will be a version 2 of this guide)

As always, thank you if you have come this far, and see you next time :)

 

 


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Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015 Telegram channel: https://t.me/dumbwaystoearn


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