ProShares Bitcoin Strategy ETF (BITO)

[tw0122]

PlanB’s predictions very accurate: October $63,000, November $98,000, December $135,000…
There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K

Bitcoin going wild as the Fed money printer goes killing the US dollar purchasing power causing hyperinflation in the US economy and wiping out what is left of middle class America

PlanB’s predictions very accurate: October $63,000, November $98,000, December $135,000…
There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K

PlanB’s prediction proved to be incredibly accurate, being less than 1% off of its targets in both months. September, for example, closed with bitcoin trading at $43,150. PlanB’s bitcoin price predictions are based on on-chain metrics and his stock-to-flow model.

The Stock-to-flow (S2F) model is a ratio between the amount of bitcoin in circulation (stock) with its production (flow) to measure its abundance and predict its future price. Bitcoin’s stock is limited to 21 million, and its flow halves every four years in events known as halvenings.

PlanB’s prediction sees the cryptocurrency move to $63,000 this month to get close to its previous all-time high of $64,000 seen in April. By November, the cryptocurrency would trade at $98,000, and only in December does his prediction see it break six figures to move to $135,000.

As CryptoGlobe reported Bobby Lee, a cryptocurrency industry veteran who co-founded the BTCC exchange and is the brother of Litecoin creator Charlie Lee, has revealed during an interview he expects bitcoin to see a rally driven by fear of missing out (FOMO) by the end of the year that will take its price above the $100,000 mark.
Cryptoglobe.com