PlanB -Bitcoin price can hit $450K in 2021, $135K is ‘worst-case scenario’
Bitcoin (BTC) could trade at an eye-watering $450,000 by the end of 2021, while $135,000 would be the “worst-case scenario”
That’s according to analyst PlanB, who on Sunday released his latest sentiment-busting bullish BTC price prognosis.
Well known as the creator of the stock-to-flow Bitcoin price forecasting models, PlanB has repeatedly bucked the overall market mood in recent weeks and months.
Even as BTC/USD sees multiple retests of lows from months past, the analyst — and his models — remain firmly fixed on a far brighter mid-term goal for the largest cryptocurrency.
Now, even the “worst-case scenario” for Bitcoin would still see it trade at $47,000 in August. A slight reversal in September places the minimum target at $43,000 for that month only to be followed by $63,000 in October — near current all-time highs.
Things then heat up, with $98,000 on the cards in November and a giant $135,000 by the end of the year.
As such, Bitcoin is still four months from rematching its all-time high — a prediction that nonetheless beats some bearish models currently circulating from traders.
These include Josh Rager, who this week claimed that $64,500 may well have been this price cycle’s top — something PlanB has specifically renounced on multiple occasions.
“Wait until you seen my base case and best-case scenarios! OK, a hint: best case Dec $450K,” he added in comments about what Bitcoin could be capable of in 2021.
Tweet By plan B :
Bitcoin is below $34K, triggered by Elon Musk's energy FUD and China's mining crack down.
— PlanB (@100trillionUSD) June 20, 2021
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 pic.twitter.com/hDONOVgxH1
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