This month, the price of bitcoin sank below the $60K zone
this month after reaching an all-time high (ATH) at $69K per unit. The
pseudonymous bitcoin analyst and the creator of the bitcoin price model
called stock-to-flow (S2F), Plan B, called the last three months of
bitcoin prices correctly but the analyst’s “worst-case scenario”
forecast missed the mark in November. Despite the recent bitcoin price
drop, Plan B still seems confident bitcoin’s price is “on track towards
$100K.”
Plan B’s Bitcoin Price Prediction for November Misses the Analyst’s $98K Call
The infamous pseudonymous bitcoin analyst Plan B
is well respected among bitcoiners and has amassed 1.5 million Twitter
followers since October 2017. Plan B is the creator of the popular
bitcoin price model called stock-to-flow (S2F),
which quantifies the commodity’s (bitcoin) scarcity and then divides it
by yearly issuance (the flow). The analyst has done well as far as
bitcoin (BTC) price predictions are concerned, but this month one of his calls missed.
It started four months ago when Plan B tweeted about his “worst-case scenario for 2021” forecast in June. Plan B stated that he believed BTC prices would be “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K” in the worst-case scenario.
So far three out of four of his monthly price predictions have come to fruition and Plan B was also correct when he said:
“$64K was not the top.” The miss this month was the first time Plan B’s
prediction has been off so far as the call for November had a $98K
target.
Plan B Acknowledges November Price Prediction Missed
Plan B acknowledged that his prediction missed this month as bitcoin (BTC)
prices slid under the $60K zone following the recent $69K ATH. “Floor
model $98K [November] close will probably be a first miss (after nailing
Aug, Sep, Oct). S2F model not affected and indeed on track towards
$100K,” Plan B stressed to his 1.5 million followers on November 25.
More than 39,000 accounts on Twitter
liked the tweet and it was shared close to 5,000 times. Correctly
forecasting three out of four predictions is very good and Plan B’s
followers are curious about what the price will be for the month of
December.
Two days later, the pseudonymous
bitcoin analyst tweeted about the crypto asset’s relative strength index
(RSI). “Bitcoin RSI 66 and 10% below monthly close ATH,” Plan B said. The following day, Plan B noted that “bitcoin has better risk-adjusted returns than all other assets.”
The analyst also created a poll,
which has 19 hours left, but so far has received 142,490 votes. The poll
asks if $69K was the top for this halving cycle or if the price of
bitcoin (BTC) will exceed the $69K ATH reached on November 10. Stats from Plan B’s poll indicate that at the time of writing, 78.4% think BTC’s price will surpass $69K while 21.6% voted that “$69K was the top.”
