There are all kinds of optimistic predictions about the price of Bitcoin these days. The latest one is made by analyst PlanB.
He is updating his Bitcoin (BTC) price target for Q1 2022 and reveals when he thinks BTC will see a hyperbolic surge where it outperforms all digital assets.
Bitcoin could surge by 700% in 2022
In an interview with Bitcoin bull Anthony Pompliano, the crypto analyst said that according to his various models, there’s a possibility for Bitcoin to go up as much as 700% by early next year.
“If we look at on-chain signals right now, I would say that the top is at least a couple of months, say six months from here. So that would be end of Q1. Then the third kind of model that I use is of course that floor model. $135,000 – that’s not based on stock to flow… It’s a proprietary thing based on other stuff – technical and on-chain.”
He continued and said the following:
“I guess we will be above $100,000, above $135,000 at the end of the year, and then we’ll continue to grow maybe towards to stock-to-flow X (S2FX) model target [at] $288,000 or even above. I would not be surprised even to see in Q1 in Q2 next year prices of $300,000, $400,000 [or] $500,000.”
In the long run, PlanB said that Bitcoin will be going on a hyperbolic surge.
“The money right now is with old people. The real estate and the gold, the physical world and not the digital world. The digital scarcity is a next-generation thing, so I think it will happen, but I also see in my own model that there is a linear relationship between scarcity and value…”
He also addressed scarcity and said this:
“Scarcity, in my view, is the most important factor causing that linear relationship and causing people to put more money in real estate now.”
Stay tuned for more news.