After the success of his predictions in the past months…Will PlanB’s model fail to predict the closing price of Bitcoin in November?


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The PlanB model showed near-perfect performance in August, September and October 2021, yet its forecast for November appears to be on a very far path from the current Bitcoin price.

PlanB’s Bitcoin model predicted that the “worst case” scenario for Bitcoin would be $98,000 by the end of November, meaning the largest cryptocurrency would need a 67% increase in less than a week for those predictions to come to fruition.

The stock-to-flow model:

Analyst nicknamed “PlanB” on Twitter has three models that help him make predictions about the Bitcoin market.

It combines its display-to-flow (S2F) model with fundamental analysis and floor model.

In a podcast with Preston Beach, PlanB explained that he relies on technical analysis as well, stating:

True it is a price, but it is a sporting thing.

The indicators catch a classic error, a mathematical error.

The models aren’t related to Bitcoin at all…it’s just another way of looking at the same price data that everyone else is looking at.

Despite the fact that the S2F model now appears to be broken, PlanB insists it does not affect its controversial predictions.

According to him, Bitcoin is still on track to reach $100,000 even though Bitcoin is well below the expected price.

The S2F model, which aims to predict the value of bitcoin by taking into account the rate of production of supply, is often criticized for focusing solely on scarcity, thus taking demand out of the equation.

Crypto is on the menu on Thanksgiving Day:

While $98,000 seems out of reach, nonetheless the bulls continue to fight to paint the monthly candle for November green.

Earlier in the day, Bitcoin recovered to nearly $59,000, to remain fluctuating near and below it.

Many expect bitcoin to be part of the Thanksgiving conversation.

Barry Silbert, CEO of Digital Currency Group, urged his followers to exchange their favorite cryptocurrency for family members at the table.

Bitcoin had a turbulent Thanksgiving last year, crashing 13% in the space of a day.

But looking at the long-term, we find that it has risen from Thanksgiving 2020 to today by almost 320%, which is really worth thanking.

Read also:

One of the most famous auction houses announces its partnership with “OpenSea” to hold NFT auctions

Report: Bitcoin Whales Continue Collecting As Bitcoin Supply Moves Into Stronger Hands

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