Popular and respected cryptocurrency analyst and chartist Plan B has just released his latest “Bitcoin Stock-to-Flow Cross Asset Model (S2FX)” dedicated towards analyzing stock-to-flow, phase transitions, cluster analysis, silver and gold.
In the release dated May 27, Plan B revealed that the monthly BTC S2F and price data points on the S2F model shows that Bitcoin has four clusters with a minimum S2F-market value of $1 million.
Comparing Bitcoin’s evolution to the US Dollar transition from gold coin to fiat paper backed by gold and paper backed by nothing, Plan B related by Bitcoin’s transition is similar and very continuous in the S2F chart.
Illustrating the monthly BTC S2F and price data points of Bitcoin with an original S2F model cluster chart, Plan B indicated that the four clusters Bitcoin present on the chart has the potential of pointing out phase transitions.
The different clusters presented by BTC on the chart looks to be in order with the halvings and changing narratives of BTC. However, each cluster has varying S2F-market value combination, assets and characteristics.
According to the S2F model analyst, Bitcoin “Proof of concept” which has S2F 1.3 has a market value of $ 1 million.
Plan B listed the clusters and their value:
- BTC “Proof of concept” (S2F 1.3 and market value $1M)
- BTC “Payments” (S2F 3.3 and market value $58M)
- BTC “E-Gold” (S2F 10.2 and market value $5.6B)
- BTC “Financial asset” (S2F 25.1 and market value $114B)
Image Source: Medium
Bitcoin Price Projected to Reach 288K by 2024, S2FX Model Claims
In the blog post, analyst Plan B predicted that Bitcoin would rise to an average price of $288,000 between now and 2024, confirming that a new bullish cycle is bound to happen after the imminent halving.
The mentioned that the original S2F model, S2FX, varies from the previous one due to the inclusion of silver and gold developed with regression analysis.
Image Source: Medium
Calculating the next BTC phase/cluster with the S2FX model formula, Plan B averred that the estimation proves that Bitcoin would rise to $288K per coin.
“This translates into a BTC price (given 19M BTC in 2020–2024) of $288K,” Plan B Stated.
Before the introduction of the S2FX model, Plan B’s prediction for Bitcoin was around $50,000.