As PlanB reports, the S2F model points to $100,000 in 2023.
Bitcoin will hit $100,000 in 2023
PlanB still thinks Bitcoin will reach $100,000 or more and he sees that coming by the end of 2023.
By next year, Bitcoin is projected to be heading towards $100,000, using both the stock-to-flow model and logarithmic regression, PlanB wrote on Twitter. This assumption follows despite the recent failures of the S2F and the analyst's worst-case scenario.
PlanB is the inventor of the popular Stock-to-Flow model and its variations. He recently published another somewhat favorable prediction regarding the price development of Bitcoin.
Using both S2F and logarithmic regression, the analyst said BTC will hit six-digit prices by the end of 2023.
PlanB explained that he compared Bitcoin to other assets such as real estate and gold, which has a stock-to-flow ratio of around 60 given its market cap of $10 trillion. The S2F ratio of real estate is 100, the market capitalization is about 10 times that of gold.
PlanB wrote:
“I would be really surprised if bitcoin had a lower market value than gold after the next halving at BTC S2F 100+.”
The stock-to-flow model views inventory as the size of existing reserves and flow as the annual supply of bitcoin in circulation. The model was particularly popular with BTC bulls, as it was fairly accurate until recently and provided very positive price predictions.
One of the forecasts predicted that Bitcoin would surpass USD 100,000 by the end of 2021, but this did not materialize, increasing the number of S2F critics.
Another model from PlanB, the ground model, or "worst case scenario" as he called it, showed high accuracy for several months in a row. However, that too was broken last November and December 2021 when Bitcoin was predicted to hit $98,000 as the first target and $135,000 as the second target.
Despite the incorrect forecasts, PlanB seems confident that Bitcoin will reach the six-figure range, even if it takes a few years longer than expected.
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