Bitcoin Price Reached Almost Half From $ 100 Thousand to Stock Forecast
Bitcoin (BTC) now fits almost perfectly with the historically accurate price chart, which shows its growth from cents to digital gold.
From January 20, BTC / USD is exactly where it should be, according to Digitalik data, a source that tracks the position of Bitcoin according to the Stock Flow model.
$ 8.6K Bitcoin sticks tightly to forecasts
Stock-Flow measures Bitcoin price using two factors: stock - the number of circulating Bitcoins - and the flow, the new number of Bitcoins in circulation.
The low emission rate - like gold - compared to the current supply of Bitcoin means useful evidence in the claim that Bitcoin is "digital gold".
The cryptocurrency's rise to $ 9,000 last week has slightly surpassed that Stock-Flow pricing predictions suggest that it can trade.
However, at the time of printing, BTC / USD traded at $ 8,680 - just $ 150 above estimates.
BTC rose to $ 100,000 in 2021
As Cointelegraph previously reported, the creator of analyst Stock-to-Flow, known as PlanB, originally suggested that Bitcoin be held in an average air in the year before the block reward halved in May 2020.
At this point, a 50% reduction in the number of new Bitcoins released to each block to the miners will further limit the flow compared to the existing stock. He then said that price performance should accelerate significantly - by 2022, a single Bitcoin should be around $ 100,000.
In 2019, when BTC / USD temporarily reached $ 13,800 from stock to flow, it similarly fell below expectations for a short period in December.