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Analyst PlanB believes in new Bitcoin all-time high



Analyst PlanB is certain that the crypto market is not yet in a bear market. Therefore, reaching a new all-time high is also possible in the short term.


Analyst PlanB's Bitcoin price forecast had attracted a lot of attention in the last few weeks and months . He published his forecast in June 2021 and forecast the value of Bitcoin in the months between August and December. For August and September, the analyst, who is considered to be the originator of the stock-to-flow model , was correct with his forecast of at least 47,000 and 43,000 US dollars, respectively. There was only a slight deviation in October. Bitcoin only closed the month at a rate of $ 61,000 instead of at least $ 63,000 as forecast.


Forecast in November and December significantly removed from the real rate


These are currently values ​​from which Bitcoin is a long way off again. Bitcoin is currently trading at $ 48,200. The announcement of the record rate of inflation in the USA had caused the Bitcoin exchange rate to rise to almost $ 50,000 in the short term. However, this increase was not of a long-term nature.


The forecast from PlanB in November did not come true either. The analyst had issued a price target of at least $ 98,000. In November, Bitcoin reached its all-time high of 69,000 US dollars (November 10), but since then it has been going down for the largest and oldest cryptocurrency as well as for the altcoins. Nevertheless, PlanB emphasizes that the stock-to-flow model is still intact and its forecast at that time was mapped by a different model. For December, PlanB had even expected a Bitcoin rate of at least 135,000 US dollars. This seems very unlikely, at least at the moment.


PlanB cannot yet imagine a bear market

Since Bitcoin is now around 30 percent below its all-time high, some investors fear that the crypto market is now in a long-term bear market, as active investors had experienced for a long time from 2014 and 2018. During this phase, Bitcoin had lost around 80 percent of its value. Some investors expect a similar trend in 2022. If this happens, it means, conversely, that BTC has reached its final all-time high in the current halving cycle.



However, this is exactly what PlanB is not assuming. In a tweet he explains that such a price slump does not make sense at the moment.


For example, if Bitcoin fell by around 80 percent, as in previous years, it would also fall below the all-time high of around $ 20,000 in 2017. That has never happened to this day, according to PlanB. He therefore does not believe that the $ 69,000 mark could represent the maximum of the bull run so far.



In fact, there are now some differences from previous years. For example, companies like Tesla or MicroStrategy have invested billions in Bitcoin. In addition, BTC is now legal tender in El Salvador. Therefore, it is of course not clear whether the course of the past can also be used for the current phase.

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