PlanB analyst: bitcoin may collapse by 80%
He stated that the next crash will occur after the asset reaches the price targets in accordance with its S2F and S2FX models
22.12.2021 - 13:10
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1 min
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What’s new? PlanB, a trader and analyst, claims that bitcoin will experience a serious bear market, despite other experts' beliefs to the contrary. In his opinion, another 80% collapse awaits the asset. In an interview on FamilyOffice's business and investment YouTube channel, PlanB highlighted several signals telling him that bitcoin will eventually end up in the bear territory.
Interview on the YouTube channel
What does the analyst say? PlanB stated that the next crash is likely to occur after bitcoin reaches the price targets according to its stock-to-flow (S2F) and cross-asset flow (S2FX) models. The stock-to-flow model predicts an asset’s price by dividing an existing supply with the new supply entering the market annually.
“I think we will have to go up quite a bit, at least to make the stock-to-flow model values of $100 000 and $288 000. But after that, we’ll go down 80% again.”
What risks are possible? The analyst believes that FOMO (fear of missing out) may appear. He said that if bitcoin reaches the $100 000 level in a couple of months, the investors will experience FOMO and things will go up. However, PlanB does not rule out that some ambiguous situation may happen after that. He cited another China ban or India ban as an example.
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