A review published on Twitter shows that the $100,000 is the next „battle zone“ that Bitcoin’s price has to face, taking into account halving and the famous Stock-to-Flow forecasting model.
For Bit Harrington’s profile, Bitcoin’s price will fluctuate in the $100,000 range over the next few years.
According to the analyst, this should happen thanks to the recent reduction in the emission of the cryptomoney caused by the halving, capable of changing the supply and price of the asset in the market.
The graph published by Bit Harrington shows that Bitcoin’s price follows the model established in the Stock-to-Flow model, a theory that believes in a price escalation of up to $100,000 in the market before the 2024 halving.
Bitcoin will face a „battle“ to keep the $100,000
The Bitcoin halving took place last Monday (11) after the mining reward was halved, with each block mined receiving only 6.25 (BTC) as a reward.
The event, which takes place every four years, is credited with triggering a Bitcoin valuation, according to the Stock-to-Flow theory.
New Bitcoins generated in 2020 could be purchased with less than 1% of the money ‚printed‘ by the Fed
In the publication of Bit Harrington’s profile on Twitter, the analyst recalls that Bitcoin has already faced other „battles“ that meant a single-digit increase in the price of cryptomoney.
According to the theory defended by analyst Plan B, Bitcoin Circuit / Crypto Genius / Bitcoin Storm / The News Spy / Corona Millionaire is experiencing a fifth phase that will result in an average price of $100,000 for the asset in the coming months.
The valuation phase of the cryptomoney began at $1
The $100,000 quote will be the next „battle zone“ following the concept of halving in 2020, in addition to the single-digit valuation presented in the previous phases.
Thus, the last „battle zone“ before halving cited by Bit Harrington on Twitter as the average value of $10,000, on a scale that started at $1.
The profile that published the analysis is known on Twitter for referring to the actor who gave life to the character Jon Snow, from the Game of Thrones series, with the user being followed by famous profiles such as Huobi exchange and CryptoBull.
„Bitcoin Battle Zones in 1, 10, 100, 1,000, 10,000 dollars. We all know what the next battle zone is. Just save it.“
In addition to listing the phases of the crypto currency, Bit Harington is asking investors to keep Bitcoin, considering that the asset could be worth $100,000 soon.
Stock-to-flow forecasts at $288,000
The Stock-to-Flow model brings a prediction on the price of Bitcoin reaching $288,000 in the crypt coin market. According to the theory, the asset should face a wave of appreciation after the halving that happened.
The stock-to-flow model predicts when Bitcoin can start rising to $288,000
Considering the fifth phase of valuation of the Stock-to-Flow model, the period currently experienced by Bitcoin may trigger an increase that should be observed in the next four years.
According to PlanB’s analysis, six months after the halving of 2020, the price of Bitcoin may start an upward trend that will culminate in a price of $288,000 for the cryptomone currency.
For the market analyst this valuation will be seen from November 2020 and Bitcoin has until the end of 2024 to reach the value predicted by the Stock-to-Flow theory.