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Home Bitcoin

Top On-Chain Metrics Explores Models that Predicts Bitcoin Surge to $1Mln

by Khalid Lawal
August 26, 2020
in Bitcoin, Cryptocurrency, General News
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Bitcoin Foundation Member Predicts BTC Will Exceed $39,900 in 2021
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The recent ups and downs in the price of Bitcoin have made popular analyst in the cryptospace explore models to predict that BTC will surge to reach a new all-time high of $1,000,000. Each of the top analysts in its fresh report analyzes the stock-to-flow ratio, a model that divides the amount of commodity in circulation by the amount mined per year.

Even though there is a wild argument on whether the stock-to-flow ratio is a perfect tool to predict BTC’s direction, trillion-dollar asset manager, Fidelity Digital Assets, declared that S2F has historically being a perfect metric for judging if a commodity would become a successful store of value.

Also, the prominent cryptocurrency metric, under the pseudonymous name, PlanB, predicted that Bitcoin’s value will surge to reach $1,000,000 by 2029, the analyst explained that commodities with a stock that is difficult to double because of low production rate which is relative to existing supply have historically become a superior store of value.

Such commodities according to PlanB are extensively used for investment purposes and industrial use occasionally, nonetheless, consumable commodities that are susceptible to large increases in supply are less productive when it comes to storing value.

Saifedean Ammous adopted the S2F model to compare BTC with other commodities used for investment and the use of the metric have afterward expanded and gave upturn to models based on the ratio.

Saifedean Ammous pointed out that Gold is the most resilient store of value and has over the years garnered the highest stock-to-flow which is now closely followed by Bitcoin and Silver, hence the crypto analyst declared that the latest BTC halving has further compressed the gap between gold and Bitcoin. The analyst reiterated that the Bitcoin’s stock-to-flow will transcend that of Gold after the next BTC halving which is scheduled for 2024.

Similarly, prominent on-chain investor, Grayscale, also reiterated the Fidelity Digital Asset’s which states that commodities with high Stock-to-flow ratios are regularly sought after by investors. Nonetheless, the investor took the time to warn that an S2F price model does not guarantee an upsurge in the value of an asset.

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Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

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