• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

S2F Creator PlanB Believes In $98k Nov Target For Bitcoin

Hououin Kyouma by Hououin Kyouma
8 months ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Bitcoin stock-to-flow (S2F) creator PlanB believes a $98k target for the cryptocurrency by November end is a realistic goal.

S2F Popularizer PlanB Sticks To $98k Target For November

Back in June, when Bitcoin was below $34k, analyst PlanB put out a list for his targets of the crypto in the subsequent months.

The tweet had these targets for BTC: Aug >47K, Sep >43K, Oct >63K, Nov >98K, and Dec >135K. So far, all these price goals have been decently accurate. But the real challenge will be the current month of November as the target for it is quite bold.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

PlanB has used the stock-to-flow model for the predictions. S2F is based on the ratio between the current supply (stock) and the annual production (flow).

The S2F value shows how scarce Bitcoin is at a particular time. Based on this scarcity, the model uses a formula to predict the future price of the coin.

Here is the latest chart for this BTC price model:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin S2F chart

Bitcoin price vs the line predicted by the S2F model | Source: buybitcoinworldwide

As the above chart shows, the model has been remarkably close to the real thing so far, although there were a few points of deviation.

Related Reading | S2F Model Creator Hypes Up $10K Daily Bitcoin Candles

Now, despite the apparent accuracy, some people in the community think the $98k BTC target for November set by PlanB is unrealistic, citing that the jump is quite large.

The analyst has responded by saying that while the jump is 60% from the level at the start of the month, BTC has achieved similar feats before. In the tweet, he lists examples of when it has happened in the history of the coin. Some of these jumps were May 2019 (62%), August 2017 (66%), May 2017 (66%), etc.

Related Reading | PlanB: S2F Model Predicts Bitcoin To Break $100k By Christmas

More people have raised concerns about the target in replies to the tweet, bringing up an important point that the market cap was significantly smaller during the previous times when BTC showed a similarly large monthly jump in the price.

Bitcoin Price

At the time of writing, BTC’s price floats around $65.5k, up 6% in the last seven days. Over the past thirty days, the crypto has amassed 18% in value.

The below chart shows the trend in the price of Bitcoin over the last five days.

Bitcoin Price Chart

BTC's price has surged up today | Source: BTCUSD on TradingView

After going through consolidation for a couple of weeks, Bitcoin has finally shown a solid move up as the coin retouched $66k today.

This month will be a decisive test for the validity of PlanB’s S2F model as some people have raised concerns about whether the $98k target is actually achievable.

Featured image from Unsplash.com, charts from TradingView.com, buybitcoinworldwide.com
Tags: bitcoinBitcoin stock-to-flowbtcbtcusdplanbS2F
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

bitcoin

Bitcoin Sets Record For Worst Quarter Since 2011, What’s Next?

8 hours ago
bitcoin ETF

SEC Still Against Spot-based Bitcoin ETFs. Is There A Light At The End Of The Tunnel?

9 hours ago
Worst Quarterly Bitcoin Crash In A Decade Closes Above Key Support

Worst Quarterly Bitcoin Crash In A Decade Closes Above Key Support

12 hours ago
bitcoin vs altcoins

Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000

15 hours ago
bitcoin

Bitcoin Approaches 2018 Like Drawdown, Why $20,000 Is A Crucial Level

19 hours ago
ATOM

ATOM Rises To Multi-Week High, Daily RSI Shows Bullish Pattern

24 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Gnox (GNOX), NEO (NEO), and IOTA (MIOTA) are Quickly Becoming The Most Held Cryptos During Bear Market

July 7, 2022

LBank Exchange Will List IX Token (IXT) on July 7, 2022

July 6, 2022

Has Bitcoin (BTC) Finally Died? Are Financial Management Crypto Like Gnox (GNOX) The Future Of The Industry?

July 6, 2022

LBank Weekly Listing Report, 4th July 2022

July 6, 2022

Zenith’s token ZNT lists on Huobi Global, strengthening its presence among lending protocols

July 5, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.