Following an epic fail from pseudonymous analyst, PlanB, Bitcoin was trading at $50,000 on December 25th, avoiding an unwelcome Christmas Day surprise for BTC bulls. PlanB’s model failed many crypto investors who must be looking at their portfolios with disappointment, as the pseudonymous analyst’s $100,000 Bitcoin prediction did not come true on December 25.
BTC/USD maintained $50,000 support into the weekend, according to TradingView data, after ranging following local highs above $51,500.
As the Christmas season began, the pair remained placid, with thinner liquidity yet to manifest itself in the form of violent price movements.
With most traders and analysts taking a break from trading and analysis, the $1 trillion market cap valuation level at $53,000 remained the closest upside objective.
PlanB made a point of separating his floor model from the Bitcoin stock-to-flow model. The floor model failed in November and December, according to the analyst, as it did not reach the minimum expected costs of $98,000 and $135,000, respectively.
PlanB had previously stated that if Bitcoin did not reach $100k in December, his stock-to-flow model would be invalidated, but he now appears to be changing his mind.
PlanB, reportedly stated this summer that if the Bitcoin price did not reach $100,000 in December, he would consider S2F useless.
Following criticism over Twitter statements he claims were misinterpreted, PlanB noted that Bitcoin would continue to follow his model’s projections.
Leave a Reply
You must be logged in to post a comment.