The 2021 bitcoin bull run has around nine months left to grow. PlanB said that bitcoin has plenty of room to grow and will not stop at $100,000 although he is impatient as bitcoin hovers near its recent highs.
In different posts on social media published on March 17, the stock-to-flow (S2F) bitcoin price model creator joined other analysts in projecting massive new all-time highs for BTC/USD.
PlanB Adopts S2FX Model’s $288K Average Price
With bitcoin currently trading sideways below its previous peaks of $58,300 and $61,700, investors are now curious about where the current bull run will eventually end. Based on previous reports, subject to the price indicator and tool used, the peak might be uncomfortably near or still too far away.
For the followers of stock-to-flow, the answer remains majorly the latter when compared to the previous bull cycles, this year is just getting started. PlanB summarized:
“We are only 3.5 months into the Bitcoin bull market. IMO BTC will not stop at $100K and will continue to S2FX $288K average price level (ATH will be higher).”
He referred to his stock-to-flow cross-asset and stock-to-flow models that give an average bitcoin price prediction of $100,000 and $288,000 in the currency halving cycle, set to end in 2024.
That is just the average, nonetheless, and PlanB thinks that the peak of the cycle might be double these figures or more which potentially places the price of bitcoin at above $576,000.
6X Gains By December 2021
Today, bitcoin is constantly following the stock-to-flow trajectory to the letter as PlanB describes it. The trajectory in the market has not yet given any signs that the cycle peak is approaching.
Rekt Capital notes that such signs seem to come in the form of bitcoin spiking above the planned trajectory. The analysts said via Twitter:
“Upside price deviations from the Stock to Flow line tend to precede Bull Market tops for BTC. At the moment, $BTC is perfectly follow the Stock to Flow line. But Bitcoin hasn’t deviated from it – yet.”
Despite the S2F model not existing during the peak of bitcoin’s first halving cycle price peak in 2011, it got a trajectory deviation equal to 1,157%.
PlanB highlighted that December 2021 is the deadline for bitcoin to reach $288,000. In his Twitter responses, he reasoned that the bull market has “at least some more months to go.”