Quantitative Analyst PlanB Predicts Bitcoin Price May Increase By 700% by 2022

Quantitative analyst PlanB says that Bitcoin (CRYPTO: BTC) will see a hyperbolic surge early next year, where it will outperform all other assets. 

What Happened: In a recent interview with Anthony Pompliano, PlanB says that BTC can ascend by 700% by early next year. 

“I guess we will be above $100,000, above $135,000 at the end of the year, and then we’ll continue to grow maybe towards to stock-to-flow X (S2FX) model target [at] $288,000 or even above. So I would not be surprised even to see in Q1 in Q2 next year prices of $300,000, $400,000 or $500,000,” says PlanB. 

Also Read: Does Bitcoin Go Up Or Down From Here? What 4 Popular Crypto Analysts Are Saying Right Now

Predicting a hyperbolic surge in the BTC, PlanB says, “The money right now is with old people. The real estate and the gold, the physical world and not the digital world. The digital scarcity is a next-generation thing, so I think it will happen, but I also see in my own model that there is a linear relationship between Scarcity and value… Scarcity, in my view, is the most important factor causing that linear relationship and causing people to put more money in real estate now.”

Speaking about the timeline for a BTC price peak, PlanB says “If we look at on-chain signals right now, I would say that the top is at least a couple of months, say six months from here. So that would be end of Q1. Then the third kind of model that I use is of course that floor model. $135,000 – that’s not based on stock to flow… It’s a proprietary thing based on other stuff – technical and on-chain.”

On Sunday morning, PlanB tweeted an updated stock-to-flow chart.

#bitcoin long term momentum is rising fast pic.twitter.com/5Mp7nE6iVs

— PlanB (@100trillionUSD) November 7, 2021

Also Read: Someone Just Transferred $926M In Bitcoin For A 90-Cent Fee