By Solomon Odunayo
PlanB, a pseudonymous crypto analyst and trader, is predicting a massive price for Bitcoin (BTC) before 2021 ends.
According to the crypto analyst, Bitcoin (BTC) is poised to hit $450,000 before the end of the year, while $135,000 would be the worst case scenario.
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PlanB is a well-known creator of the stock-to-flow (S2F) model for the price of Bitcoin (BTC).
$450,000 Is the Best Case for Bitcoin (BTC) In 2021
In a tweet on 20th June, PlanB showcased his bullishness for Bitcoin (BTC) in 2021. He said Elon Musk’s FUD and China’s mining crackdown are the major reasons behind the current price of Bitcoin, but he expects the cryptocurrency to surge above $47,000 by August.
He expects a drop below $43,000 in September, followed by a meteoric rise to $63,000 in October, while November will see the continuation of the positive trend to hit $98,000.
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Conclusively, the analyst set his worst case for BTC at $135,000 by the end of 2021.
PlanB tweeted, “Bitcoin is below $34K, triggered by Elon Musk’s energy FUD and China’s mining crack down. 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 is below $34K, triggered by Elon Musk's energy FUD and China's mining crack down.
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
— PlanB (@100trillionUSD) June 20, 2021
Considering the prediction, Bitcoin (BTC) is still four months from equaling its all-time high of relatively $64,500. This prediction has, however, beaten bearish models that currently circulate from a number of traders and investors.
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These bearish models include Josh Rager’s claim that $64,500 may well have been this price cycle’s top, which has been continuously renounced by PlanB.
In comments, PlanB said, “Wait until you seen my base case and best case scenarios! OK, a hint: best case Dec $450K.”
Wait until you seen my base case and best case scenarios! OK, a hint: best case Dec $450K 😎
— PlanB (@100trillionUSD) June 20, 2021
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