From an update on one of the most closely-watched Bitcoin forecasts in existence to efforts to tokenize stocks on the XRP Ledger, here’s a look at some of the stories breaking in the world of crypto.
The latest outlook from the crypto analyst PlanB is going viral.
The anonymous analyst says despite Bitcoin’s wild ride in 2019, with highs approaching $14,000 and lows nearing $3,000, BTC remains on course to hit $100,000 – according to the much-hyped stock-to-flow ratio.
He says Bitcoin’s halving, which is likely to happen in May of next year, remains one of the strongest catalysts for the future growth of the leading cryptocurrency.
“In my opinion the run-up is not bearish at all, we are close to the S2F model value, like [the] last 2 halvings. The only thing that surprises me is why we don’t see front running.”
#Bitcoin halving .. 5 months to go 🚀
For miners: production cost of 1 btc will double
For investors: stock-to-flow (unforgeable scarcity, inability to inflate stock) will double pic.twitter.com/JWNbJyil4a
— PlanB (@100trillionUSD) December 1, 2019
As for the timeline, PlanB says the model indicates $100k will likely happen between 2020 and 2023.
Stock-to-flow measures the existing supply of Bitcoin against the amount of BTC entering circulation. Analysts use it for commodities like gold to show how the scarcity or abundance of an asset is tied to its value.
Despite its popularity, the ratio has its fair share of detractors. Analyst and economist Alex Krüger says stock-to-flow is far from reliable.
“Amazing how so many bring up S2F these days whenever anyone mentions bitcoin supply… I don’t think it is very important,