Bitcoin Bull PlanB Still Confident Crypto King Will Touch $100K Mark By 2023

PlanB, a Twitter analyst who famously predicted Bitcoin's stellar rise until November using a Stock-to-Flow model (S2F) published in 2019, still insists that the crypto king will touch the $100k mark by 2023.

"Both S2F and logarithmic regression point to $100K in 2023," the pseudonymous Dutch analyst said in a Twitter post on Monday.

His predictions come despite the fact that Bitcoin has fallen over 40% since it touched the record-high of $69k in November.

Bitcoin was trading at $44,242 at 3.35 a.m. ET, CoinMarketCap data showed.

The S2F model sees the stock as the size of existing reserves and the flow as the annual supply of new Bitcoins in circulation. The model gained a lot of traction among BTC bulls as it was quite accurate initially.

The analyst had another model, which he called “floor model” or “worst-case scenario,” that also showcased high accuracy for several months in a row.

Even though PlanB's prediction of Bitcoin achieving $98,000 in November and $135,000 in December failed, he was still persistent Bitcoin is bound to reach $100,000 in the next two years, helped by the next halving process to begin in 2024.

On Dec. 25, PlanB took to Twitter and said, "Imagine thinking a model that has stayed within 1 standard deviation band for 3yrs has failed. IMO we are in the exact same spot as March 2019 when I published S2F model: at the low end of the 1sd band. DYOR. Look at the chart. Your choice."

In another tweet, PlanB had said, "Let me be clear:1) Nov98K & Dec135K miss = FLOOR MODEL FAIL
2) Dec100K miss: I have said earlier that if BTC<$100K Dec2021, then S2F is “off the rails” “invalidated” “dead”. Tbh that was an ill attempt to clarify “$100K average this cycle” & regression analysis. S2F MODEL INTACT."

Despite several hits and misses, PlanB is confident that the S2F model is intact and will yield results by 2023.