There is only one day left until the price of BTC will close the November candle. Despite the drop after setting a new ATH in the area of 69,000 USD, many investors still have a positive forecast for BTC. Join Primexbt to review the data and predictions of PLAN researcher B about the price of BTC in the near term.
Plan B said that while November’s BTC price prediction may not appear to be accurate, he believes Bitcoin’s price is still ‘on track towards $100k’.
Looking back a bit, this month, the bitcoin price dropped to the $53,000 region this month after hitting an all-time high (ATH) at $69,000 previously. BTC analyst and creator of a bitcoin price model called stock-to-flow (S2F), Plan B, has accurately predicted the price of bitcoin over the past three months, but forecast “case in point.” The analyst’s worst-case scenario didn’t appear to be accurate in November. Despite the recent drop in bitcoin’s price, Plan B still looks confident that bitcoin’s price is “heading toward $100k.”
The bitcoin analyst with the infamous nickname Plan B is highly respected in the bitcoin world and has amassed 1.5 million Twitter followers since October 2017. Plan B is the creator of the popular bitcoin price model. variable called stock-to-flow (S2F) , quantifies the commodity (bitcoin ) scarcity and then divides it by annual release (flow). This analyst did well with bitcoin (BTC) price predictions, but this month, one of his predictions turned out to be incorrect.
It started 4 months ago when Plan B tweeted about his “worst case 2021” forecast in June. Plan B stated that he believes BTC price will be “August > 47 thousand, September > 43 thousand, October > 63 thousand, November > 98 thousand, December > 135 thousand” in the worst case.
So far, three of his four monthly price predictions have come true, and Plan B is right when he says, “$64K isn’t the highest.” This month’s miss is the first time that Plan B’s prediction has been skewed so far as November has a $98k target.
Plan B Announcement Missed November Price Prediction
Plan B admits that his prediction failed this month as bitcoin (BTC) price dropped below the $60k region following the recent $69K ATH. “The $98K [November] floor pattern closing will likely be the first miss (after the end of August, September, October). The S2F model is unaffected and is actually on track towards $100k,” Plan B emphasized to its 1.5 million followers on Nov.
More than 39,000 accounts on Twitter liked the tweet, and it was shared nearly 5,000 times. Accurately forecasting three out of four is very good, and Plan B followers are curious as to what December’s prices will look like.
Two days later, the nick-named bitcoin analyst tweeted about the crypto asset’s relative strength index (RSI). “Bitcoin RSI 66 and 10% below the monthly close ATH,” said Plan B. The next day, Plan B notes that “bitcoin has a better risk-adjusted return than all other assets.”
The analyst also created a poll, which has 18 hours left, but has received 142,490 votes so far. The poll asks if $69k is the highest for this halving or will the bitcoin (BTC) price exceed $69k ATH reached on Nov. 10. Stats from the poll A Plan B poll indicates that at the time of writing, 78.4% think BTC Price will surpass $69K while 21.6% vote that “$69K is the top.”
What do you think about the fact that Plan B was inaccurate in its November prediction but accurately forecast the final three months before that? Do you think bitcoin is approaching 100,000 USD or 69,000 USD is the top? Let us know what you think about this topic in the comments section below.