Another aggressive forecast on the further dynamics of the movement of bitcoin was recently made by a trader under the nickname PlanB. This expert is known for having at one time developed a mechanism for predicting the indicative movement of the first cryptocurrency, linking it with the dynamics of the behavior of the stock market.
During a conversation with Global Macro Investor founder Raul Pal last week, the trader admitted that he previously doubted that BTC could reach a six-figure value.
Now he is of a different opinion, and there is every reason for a spurt in bitcoin up to $ 100,000 and even higher by 2022. The main impetus for such an explosive growth of the coin will be the reduction in the award of bitcoin miners in May 2020 (the so-called halving ).
PlanB said :
“Somewhere in a year or a half after halving the [rewards of the miners], so to speak, by Christmas 2021, bitcoin should be above $ 100,000.”
Just to clarify something I said in the @realvision interview with @RaoulGMI
“Before Christmas 2021 bitcoin should be, or should have been, above $ 100k; if not, then all bets are off and it probably breaks down »
With "it" I mean the stock to flow model of course, not bitcoin! https://t.co/oGVAUOtd8W
– PlanB (@ 100trillionUSD) October 21, 2019
But if this does not happen, then the cryptocurrency movement model formed by the trader will be destroyed. Although PlanB itself doubts that its forecast will not come true. The first conclusions can be drawn after the May halving.
The expert is sure that many BTC supporters look forward to this event. Note that not only PlanB is of the opinion that halving will become a determining factor in the growth of bitcoin.
Another trader, nicknamed Crypto Rand, also believes that the coin’s take-off is inevitable, as the supply of BTC will decrease due to weakening activity of miners , and this will provoke an acute shortage of bitcoin in the market.
2012 halving reduced the new supply by $ 302,400 per week.
2016 halving reduced the new supply by $ 8,190,000 per week.
2020 halving will reduce the new supply by $ 63,000,000 per week.
Making the next #Bitcoin halving the most dramatic yet. pic.twitter.com/vqe06eAk04
– Crypto Rand (@crypto_rand) October 18, 2019
Publication date 10/23/2019
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