Bitcoin Going to $100,000 Soon Says Key Model. That is Some Shit!!!
TIL, a key model is predicting Bitcoin is about to rise to $100,000.
But it doesn’t stop there.
According to PlanB , the developer of a Bitcoin stock-to-flow model, the price of one Bitcoin could rise to over $5 million in 2024. PlanB’s model has been right on point since its introduction.
Based on my 2-minute research tonight, PlanB is a quant hiding behind a pseudonym in social media circles. (Hi, I’m The Mean).
However, knowing my share of quants – this person is a legit analyst.
I’m not going to pretend to know the science behind Bitcoin. Or even what a Bitcoin truly is. But I do know economics, and between the pandemic and social change, things are volatile.
So how does Bitcoin get there? Well, one way is the collapse of the U.S. Dollar through endless printing of $$$. With the pandemic eroding the foundation of the U.S. economy, the service industry being crushed, an election fiasco in the making, endless money supply, civil unrest, wildfires roaring….yea, I can see some negatives for “the market”.
Since the #1 rule for investors is to not lose $, they will seek safe havens for their cash. Gold and silver have always been there. Perhaps, Bitcoin is next.