Before the year began, it was expected to become by the year 2020. The bitcoinkoers would be considerably increased, partly because of the next bitcoin block halving. The coronacrisis the expectations of some updating, but some of them continue to be very positive. Thus, it remains a positive, and he was the analyst behind the stock-to-flow model in bitcoin. Himself he is hoping to have a value of $ 70,000, and he does not tell you in what period of time.
So, #btc, that has been also around S2F value, or $7000 for 2.5 years now. Just like before the 2016 halving ($300), and before the 2012 halving ($6). Excited to see if we are going to add another zero after the halving, in May? pic.twitter.com/2pkCgOSAEN
— PlanB (@100trillionUSD): April 4, 2020
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$ 70,000, after the block halving?
In a little Over a month, it is with the influx of new bitcoins is halved, that is, the bitcoin block halving was called. A decrease in supply and an equal demand, the price of bitcoin will rise. The more difficult it is to get a good to produce, how scarce it is. And how more and more scarce, the higher the price. This is the reasoning behind the stock-to-flow model, of PlanB.
In the last years of the period, and the price is around $ 7,000. In accordance with the stock-to-flow model, the average share price over the next few years, at around the 90,000 u.s. dollars. Sometimes it lowers the price below the line and sometimes above it, but by and large it follows the price of the current model.
“It’s better to be approximately right than exactly wrong” – Carveth Read. #Bitcoin S2F model, it is not dead accurate, but the order of magnitude is right. pic.twitter.com/yVt7aAB6PW
— PlanB (@100trillionUSD April 5, 2020
If you want to know more about the bitcoin block halving? Take a look at our video:
Will bitcoin be a safe haven in the economic crisis?
It will be interesting to see if it is a model of PlanB will continue to hold. Bitcoin has existed since 2009, and for a long moment, the biggest impact of the credit crisis of 2007 and 2008. Markets such as the Dow Jones Industrial Average and the S&p 500 in march of 2009, and continued from there on their way to the top. In other words, bitcoin has only existed during a period of economic progress.
What will happen to bitcoin in an economic crisis? The opponents of bitcoin will see cryptocurrency as a risk-increasing investment. Goudinvesteerder Peter Schiff, for example, has nothing good to say about bitcoin:
#Bitcoin bugs will criticize me for recommending #too, because anyone who bought at the absolute high, it is still down to 14%. Well, anyone who did that with Bitcoin, it is down to 70%. So, if I was wrong for recommending buying gold, what does that say about those who recommended buying Bitcoin?
— Peter Schiff (@PeterSchiff) January 29, 2020
Others, however, expect that bitcoin, like gold, as a safe harbor, it is in use. As expected, private equity fund manager Mark Yusko, that investors in bitcoin will be used in order to hedge against the decline in value of fiat currencies like the Us dollar.