Bitcoin price would hit $288,000 this year, according to this metric - page 2.

Baofeng

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Quote from: Oasisman on March 20, 2021, 07:45:45 AM

That's quite a huge price prediction for a 4 year cycle. Though Btc has becoming more and more unpredictable as years passes by and S2F model has been delivering a quite reliable predictions, but I just can't get off my mind that $288,000 is such a huge figure for Btc to break this year.
I personally think Btc would peak at around $100,000 this year. A lot of people has been waiting for that to happen and a massive dump will take place then recovery and regrets on the latter.

Yes, but remember this model should be seen as for long term prediction. Also, regarding the year cycle, we might see two waves in 3 years, as bitcoin's narrative has evolved, we might see the cycle also changing. So let's see if we can peak at $100k and then continue it's growth on the next cycle of $200k++. Might be really good to be a holder up until the end of the year.

Slot Kid

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Plan B & his famed S2F has proved very correct so far, I really hope that 288k is a possibility this year. It will make many of us wealthy, we are currently struggling to break 60k but when bitcoin pops it sure as hell pops.

ecnalubma

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In due time it might reach that price but no need to rush. No technical analysis is accurate because the market is very unpredictable and has a lot of surprise. Honestly a $50k at first quarter of the year is quiet fast and no one expected it, but we need to be very careful because the price of BTC is not in the hands of common holder but in the hands of manipulators.

Ibrahim60

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Bitcoin is now so much volatile. We know Bitcoin is one of the most potential and good coin. But i don't appreciate with your speech. I don't think that Bitcoin price will hit $288,000 in this year. In my opinion bitcoin can hit this much amount but not in this year. In the future its price can touch the amount. I think in this year Bitcoin price can hit around $80k to $100k. Or gonna down like 2017. Because no one can surely tell something about cryptocurrency.

Oasisman

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That's quite a huge price prediction for a 4 year cycle. Though Btc has becoming more and more unpredictable as years passes by and S2F model has been delivering a quite reliable predictions, but I just can't get off my mind that $288,000 is such a huge figure for Btc to break this year.
I personally think Btc would peak at around $100,000 this year. A lot of people has been waiting for that to happen and a massive dump will take place then recovery and regrets on the latter.

Yaunfitda

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I was also fascinated by this prediction, the modelling scale of S2F.

When we look at the price, I'm sure everyone is drooling about it and hope that it can really reach that high so that of course we can make a lot of profits. However, it is just a prediction still, no one really knows what is going to happen in the next six month or at before the end of the year.

I guess seeing bitcoin reaching 6 digits will be huge news if it happens, but as we can see the potential growth is slowing down, might be good to take profits along the way.

adaseb

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It might reach $288K or it might not. The important thing to do is take profits from time to time. Imagine if back in 2017 you were waiting for $20K which never actually happened, price went to $19.7K or so. You would of missed out.

Sure if it ends up going to $250K its unfortunate if you sell half of your BTC at $50K or $100K however keep in mind that its easier for bitcoin to do a 20x going from $1K to $20K than it is a 20x going from $20K to $400K. Look at the overall market cap.

Basically its reaching the point of where its almost unsustainable. Imagine how much money it would take to support a huge price of like $250K bitcoin.

Wawa2013

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In fact, no one will know the highest price that Bitcoin will reach this year, we all can only speculate from each other's analysis. It is not wrong
if Bitcoin is predicted this year will reach a price of $ 288k, because Bitcoin's performance until now is very surprising. Bitcoin's price increase
was very fast and has not stopped until now. Based on this, it's no wonder that many predictions say the Bitcoin price will hit a price above $ 200k.
Earlier this year I predicted the Bitcoin price this year would reach $ 100k, but entering March there was a significant increase that was beyond
my expectation. So I agree with the prediction that Bitcoin might hit a price above $ 200k this year.

Fundamentals Of

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Do you personally believe that? I mean PlanB's (@100trillionUSD) unique analysis?

When I first got acquainted with PlanB, I was kind of surprised at how high his predictions are. At first I thought he was simply too bullish that he is not anymore realistic. And then his predictions started to happen one after another. I realized the man has some solid basis in his predictions. So far, they seem to go along with the real price of Bitcoin. But $288,000 for Bitcoin within this year? I hope it will happen but I think it is way too high to reach.

cryptomaniac_xxx

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Quote from: dunfida on March 19, 2021, 03:49:28 PM

Quote from: cryptomaniac_xxx on March 19, 2021, 05:40:34 AM

Yeah, it has been discussed here by @fillippone, Stock-to-Flow Model: Modeling Bitcoin's Value with Scarcity.

There is also a scenario that $100k - if it followed 2017 pattern, and then this $288,000 if it followed 2013's bull run.

Why would people do always love to look on what happened in the past? Though, it isnt really that prohibited on looking back into the past but i wouldnt really take it up seriously
because reaching 100k alone would already be a challenge or wouldnt really be possible on this years time.We didnt expect for bitcoin to hit up 60k, who would ever thought that
we do past or break that 20k ath that we've been hoping for on couple of years? You would see lots of sentiments like this and like that but always
take measure if you do follow it or not.

Too add what has @fillippone has said,

It's because crypto market works in cycle, that's why it's better to look at the past performance and see what might happened in the future based on those past historical logs. I advise you to look at the charts,

https://digitalik.net/btc/

And you will be amaze as how "accurate" this modelling is.

pixie85

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Quote from: pakhitheboss on March 19, 2021, 02:46:40 AM

From 2017 till today I have been hearing a lot of price prediction and frankly speaking non of them were correct. If it was that easy to predict Bitcoin price most of us here would have been Bitcoin millionaire. We all know it will reach to the moon and we can see everyday what is happening therefore there is no need to create a FOMO around the price.

Because people always go over the top or below the bottom. In a bull market they're too pessimistic and in a bull market they're too optimistic.

I still remember how they were claiming Bitcoin would go to 1000 dollars before the bull market reversal and we never even went below 3000.

Now they're talking about 200 thousand when we're not even close to 100. We won't even go above 100 without facing a strong correction. We'll be lucky if we go there this year but Bitcoin is already overbought at 60. 75 is all I would give it this year.

Twinkledoe

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Quote from: fillippone on March 19, 2021, 04:26:26 PM

Quote from: dunfida on March 19, 2021, 03:49:28 PM

Why would people do always love to look on what happened in the past?

Well, we are not “looking at the past”, but we are scrutinising what happened trying to infer what could possibly happen in the future.

This is called “modelling” the reality.
Stock to flow has been consistently working since 2010, so I guess it would be a pity not to look in the past, and think it is going to break right now!

Yes, they are using the historical values to formulate a pattern and possibly apply for future trends. Without those old values, it would be hard for them to make a model. It may or may not come true, but it is better to have some sort of reference rather than pulling numbers out of nowhere. You don't need to believe what the model is saying because there will be other contributing factors that may influence the market. But later on, after this year, we will see how such modelling works and how near it is to reality?

STT

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Why is everything this year, I dont think crypto itself cares about your concept of time and years :p

The momentum behind this particular market is likely not on our schedule, a bit of a mystery but I think fairly simply we cycle through a few more waves, upsets and booms before we get to a grander scale. When everyone is proved wrong then the market makes its final move, it requires some to give up maybe the majority.

So if we keep this very loose trend then we can carry on up, if it breaks trend then we get the grander reset event and that caps aspirations for this year probably but next year and beyond I remain bullish but only with the proviso that upset and trouble is not in the past only.

fillippone

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Quote from: dunfida on March 19, 2021, 03:49:28 PM

Why would people do always love to look on what happened in the past?

Well, we are not “looking at the past”, but we are scrutinising what happened trying to infer what could possibly happen in the future.

This is called “modelling” the reality.
Stock to flow has been consistently working since 2010, so I guess it would be a pity not to look in the past, and think it is going to break right now!

dunfida

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Quote from: cryptomaniac_xxx on March 19, 2021, 05:40:34 AM

Yeah, it has been discussed here by @fillippone, Stock-to-Flow Model: Modeling Bitcoin's Value with Scarcity.

There is also a scenario that $100k - if it followed 2017 pattern, and then this $288,000 if it followed 2013's bull run.

Why would people do always love to look on what happened in the past? Though, it isnt really that prohibited on looking back into the past but i wouldnt really take it up seriously
because reaching 100k alone would already be a challenge or wouldnt really be possible on this years time.We didnt expect for bitcoin to hit up 60k, who would ever thought that
we do past or break that 20k ath that we've been hoping for on couple of years? You would see lots of sentiments like this and like that but always
take measure if you do follow it or not.

bitgolden

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Quote from: Luqman on March 19, 2021, 06:35:08 AM

Quote from: TastyChillySauce00 on March 19, 2021, 05:57:45 AM

this prediction basically is just speculation but based on some past bitcoin chart or some technical analysis, I see nothing wrong with this

Correct. The prediction doesn't guarantee anything, it can be true or wrong. However, it is not guessing in a random way, it has a certain method/approach. Regarding Bitcoin possibly reach $288K, it is purely a prediction. Nothing wrong if it cannot be achieved at the end of this year. That's why even an expert stated the prediction, we shouldn't thoroughly trust him.

This is why it is called "prediction" and not information, like for example tomorrow will be 20th is information, it is still about the future, you do not have to be a wizard to say some guaranteed information about the future, like I will die, that is about the future and I am not a wizard and yet it is guaranteed thing about the future.

But when you say something, like 288k will be this year, 80k will be this year, whatever you say, it is not going to be that guaranteed for sure, it is prediction and that is why we use that word. I have my own prediction for example, I am expecting at least 100k this year, could be more could be less, I can't know what will happen but I "predict" that it will be over 100k. There is nothing wrong with predicting something, keep doing that and you will eventually get it right and make some money from it at same time.

Luqman

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Quote from: TastyChillySauce00 on March 19, 2021, 05:57:45 AM

this prediction basically is just speculation but based on some past bitcoin chart or some technical analysis, I see nothing wrong with this

Correct. The prediction doesn't guarantee anything, it can be true or wrong. However, it is not guessing in a random way, it has a certain method/approach. Regarding Bitcoin possibly reach $288K, it is purely a prediction. Nothing wrong if it cannot be achieved at the end of this year. That's why even an expert stated the prediction, we shouldn't thoroughly trust him.

TastyChillySauce00

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Quote from: pakhitheboss on March 19, 2021, 02:46:40 AM

From 2017 till today I have been hearing a lot of price prediction and frankly speaking non of them were correct. If it was that easy to predict Bitcoin price most of us here would have been Bitcoin millionaire. We all know it will reach to the moon and we can see everyday what is happening therefore there is no need to create a FOMO around the price.

It's called prediction and this prediction basically is just speculation but based on some past bitcoin chart or some technical analysis, I see nothing wrong with this and even if they're wrong then so be it, otherwise if predictions always turns out to be true it's called fortune telling and people not gonna share it freely like it is right now.

cryptomaniac_xxx

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Yeah, it has been discussed here by @fillippone, Stock-to-Flow Model: Modeling Bitcoin's Value with Scarcity.

There is also a scenario that $100k - if it followed 2017 pattern, and then this $288,000 if it followed 2013's bull run.

Timelord2067

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You should always factor in a shock drop at anytime for any reason, wars, pandemics, the wrong click of a mouse... The list of reasons are as numerious as the ones for why the price might go up.

If the price rise was guaranteed to never go down, then the price of bitcoin would be worth the same as Dilithium Crystals.

(Brace for impact)

Topic: Bitcoin price would hit $288,000 this year, according to this metric - page 2. (Read 458 times)