Plan B has joined Twitter to offer a number of Bitcoin price predictions, the developer of the highly contested stock-to-flow methodology. The renowned expert predicts that by the end of 2021 Bitcoin will still reach $135,000. And it's a scenario of his worst cast.
Image by twitter.com
He predicts, however, the cryptocurrency bellwether can continue to transact under its all-time high of $64,895 under April to October. The pseudonymous Dutch promoter of Bitcoin argues that the current downturn is caused largely by Elon Musk's "energy FUD" and continued Chinese repression of the Bitcoin mining sector. When Tesla halted payments on May 12, Bitcoin dropped an enormous 14 percent.
The Bitcoin tweeting of Musk triggered a greater selling stress, which finally led Bitcoin to rectify the entire situation to a local level of $30,000. The cryptocurrency fell, despite the robust rebound, to a different story of bearish: a ban on crypto mines by China.
Although El Salvador helped restore prices, miners from Sichuan On June 1, Plan B tweeted that the price movement of Bitcoin reminded of the bear market of 2013.
The "dual twin" idea, which many bulls hope for is reaffirmed by his most recent tweet. Back in April 2013, Bitcoin peaked at $259 before fixing almost 75% of its high in three months. Bitcoin went totally crazy in November 2013, and peaked at $959 before a bear market for several years eventually came.
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