Popular Analysis Model Gives 2021 Bitcoin (BTC) Price Prediction!
According to stock-to-flow, an analysis model created by PlanB, one of the market’s popular analysts, the leading cryptocurrency Bitcoin (BTC) will see $ 288,000 in 2021.
Target in Bitcoin: $ 288,000
Bitcoin and altcoins continue to rise and continue to record new peaks, with the increase in individual and corporate interest. Altcoins have also turned green as Bitcoin is seeing strong over $ 60,000 again today.
The market has several different opinions regarding Bitcoin’s next target. Some analysts state that BTC will see $ 72,000 and decline, while some names set targets of $ 100,000, others set targets of $ 400,000.
Stock-to-flow analysis shows that $ 288,000 will be seen in BTC in 2021. As Perianne Boring , founder of Chamber of Digital Commerce points out, Bitcoin has the potential to go up even higher. According to the statements made, the stock-to-flow model shows that the leading crypto currency will have a price between $ 100,000 and $ 288,000 in 2021.
Speaking on CNBC, Perianne said:
Stock-to-flow says Bitcoin should be priced between $ 100,000 and $ 288,000 this year. At this point, we have 12 years of stock-to-flow data for Bitcoin.
Is Bitcoin Volatility Declining?
In addition, the volatility of Bitcoin has gradually decreased over the past few months. JP Morgan analysts believe this could facilitate adoption in the banking sector. After Bitcoin’s surge to $ 60,000, a major retracement was expected, but instead the price stabilized.
Over the past seven days, Bitcoin’s price has traded between the $ 56,000 support and the $ 60,000 resistance. The market value is still over $ 1 trillion.