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The $ 100,000 is the “next battle zone” for Bitcoin’s price, according to the stock-to-flow model

May 20, 2020

A review published on Twitter shows this The $ 100,000 is the next “battle zone” that Bitcoin’s price has to face when considering the halving and the famous stock-to-flow forecasting model.

For Bit Harrington’s profile Bitcoin’s price will fluctuate in the range of $ 100,000 in the coming years.

According to the analyst, this should be thanks to the recent cut in cryptocurrency spending caused by the halving, which can change the supply and price of the asset in the market.

The $ 100,000 is the “next battle zone” for Bitcoin’s price, according to the stock-to-flow model
The $ 100,000 is the “next battle zone” for Bitcoin’s price, according to the stock-to-flow model

The graphic published by Bit Harrington It shows that Bitcoin’s price follows the model set in the stock-to-flow model, a theory that believes the price could be up to $ 100,000 in the market before the cut in 2024.

Bitcoin faces a “battle” for $ 100,000

Bitcoin was halved last Monday (11) after the mining reward was halved, with each mined block receiving only 6.25 (BTC) as a reward.

The event, which takes place every four years, is responsible for triggering a Bitcoin valuation, according to stock-to-flow theory.

In the publication of Bit Harrington’s Twitter profile, the analyst recalled that Bitcoin had already been subjected to other “battles” that meant a single-digit price increase for the cryptocurrency.

As the theory defended by analyst plan B shows, Bitcoin is in a fifth phase, which will result in an average price of $ 100,000 for the asset in the coming months.

The cryptocurrency valuation phase started at $ 1

A price of $ 100,000 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.

For example, the last “battle zone” before Bit Harrington was halved on Twitter was given as a median of $ 10,000 on a $ 1 scale.

The profile that published the analysis is known on Twitter for referring to the actor who brought the character Jon Snow from the Game of Thrones series to life, followed by famous profiles like Huobi Exchange and CryptoBull.

“”Bitcoin Battle Zones at $ 1, 10, 100, 1,000, 10,000. We all know what the next combat zone is. Keep it simple. “

Bit Harington not only lists the phases of the cryptocurrency, but also asks investors to stick to Bitcoin as the asset’s value could soon be estimated at $ 100,000.

PICTURE

Stock-to-flow forecasts at $ 288,000

The stock-to-flow model provides a forecast of the price of Bitcoin, which reaches $ 288,000 in the cryptocurrency market. According to the theory, the asset should experience a wave of appreciation after halving it.

Given the fifth valuation phase of the stock-to-flow model, Bitcoin’s current period may trigger an increase that is expected in the next four years.

According to PlanB’s analysis, the price of Bitcoin could trigger an upward trend six months after halving 2020 by 2020, which will culminate in a price of $ 288,000 for the cryptocurrency.

This assessment will be visible to market analysts from November 2020, and Bitcoin has until the end of 2024 to reach the value predicted by the stock-to-flow theory.