Robert Steinadler, 10 months ago

Bold prediction: Bitcoin could be worth $100.000 in 2023

PlanB is one of the most revered influencers in the crypto space, especially within the Bitcoin community. From the beginning of the bull run in 2020 up until the all-time high in November 2021, PlanB was standing by his model that predicted a Bitcoin price of at least $100.000 until the end of the year.

Fast forward: It is the year 2022 and PlanB is still into the stock-to-flow model only this time he claims that Bitcoin reach the same price by the end of next year.

Is stock-to-flow still a thing?

It was yesterday when the influencer posted a new chart via Twitter taking the stock-to-flow model and a logarithmic regression model into account. According to his tweet Bitcoin could hit $100.000 next year. This is not the first time that he adjusted his original model.

But this also begs the question if those models and their predictions are worth the attention. A broken clock is right at least two times per day but claiming that Bitcoin will hit 100k at some point in the future might prove to be wrong at all times.

What is more important than the exact prediction of future events is the idea that Bitcoins scarcity will affect the price. With each halving, the stock-to-flow ratio is increasing and will reach a higher ratio than gold which has a higher market capitalization. This leaves enough room to speculate that Bitcoin’s price will adjust over time and see six figures and overtakes the predominate asset that is commonly used for value preservation.

He is not alone

PlanB is not the first and probably not the last person on earth that expects Bitcoin to reach a price target of $100.000 or more. Among them Fundstrats managing partner Tom Lee who only recently gave a forecast for Bitcoin during an interview with CNBC and a possible price target of $200.000 within the next few years.

The same goes for JPMorgan setting the bar unintentionally between the prediction of Lee and PlanB’s model. According to the managing director, Nikolaos Panigirtzoglou Bitcoin has a long-term value of $150.000 but is currently overvalued and should be worth $38.000.

It seems that all these predictions eventually consider Bitcoin’s ultimate scarcity. Yet, it remains to be seen if the world is willing to adopt Bitcoin as the standard for value preservation or as a monetary network.

Featured articles
Four trading strategies for crypto
Bitcoin and Ethereum: what are the differences?
What determines the Bitcoin price?
Related articles
Bitcoin obituaries slowly dying out?

Dec 05, 2022

Since the fall of FTX, the number of times influential people have claimed Bitcoin or crypto will die, has gone up. But it is still remarkable that the number of these so-called 'Bitcoin obituaries' is in a downtrend. Are the sceptics less sure of their case?

Trade anytime, anywhere

Boost your trading impact and reaction time in over 80+ cryptocurrencies via instant access to your portfolio with the LiteBit app.

  • 2525 Ventures B.V.
  • 3014 DA Rotterdam
  • The Netherlands
More info
  • About LiteBit
  • Careers
  • Business account
  • Support
  • Sell
  • News
  • Education
Subscribe for updates

Sign up to stay informed via our email updates

Subscribe
Explore popular coins
© 2022 LiteBit - All rights reserved