Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for EOY $100K Bitcoin Price – Bitcoin prices have been better after the second week of September, hovering around $46.5K to $48.5K per unit during the last two days. Meanwhile, bitcoin proponents still believe a significant second-leg up will be happening this year and a recent survey published by Plan B with 123,410 votes shows people believe bitcoin will reach $100K by Christmas 2021. Furthermore, a price model crafted by Will Clemente called “Illiquid Supply Floor” indicates that bitcoin prices may never drop below $39K again.
Plan B’s Bitcoin Price Survey Sees 100K Votes
Plan B is a pseudo-anonymous Twitter account (@100trillionusd) and the creator of the bitcoin price model called stock-to-flow (S2F). Plan B has stated in previous tweets that September bitcoin (BTC) prices may be lackluster, and this week he said “let’s skip September and go straight to October.”
He said this because in a tweet he wrote on June 20, Plan B expects bitcoin prices to follow this path: “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.” So far, Plan B’s August bitcoin price prediction and even so far in September, has been on point.
On September 11, 2021, Plan B decided to do a Twitter survey as he has done on various occasions in the past. Plan B has 799.1K Twitter followers so his survey gets around on the social media platform. The survey he shared last Saturday asked the following question on Twitter:
Do you think bitcoin will reach $500K, $288K (S2FX model), $100K (S2F model), or will BTC stay below $100K… by Christmas 2021?
123,410 votes were cast in Plan B’s survey on Twitter and 45.7% believe it will reach $100K. Approximately 32.7% of those who voted think BTC will stay below $100K by Christmas 2021. 15.3% of the crowd suggest that they think $288K is possible and 6.3% believe that $500K per bitcoin could happen by the year’s end.
Will Clemente’s Model Suggest Bitcoin’s Price Floor Is $39K
In addition to Plan B’s recent survey, the lead insights analyst at Blockware Solutions, Will Clemente, tweeted about a price model called the “Illiquid Supply Floor.”
“Introducing: Illiquid Supply Floor,” Clemente tweeted on September 15. “This combines Glassnode’s illiquid supply data with Plan B’s traditional S2F model, creating a price floor based on Bitcoin’s real-time scarcity. Currently $39K,” Clemente added. He also thanked Matt Faltyn for helping him bring the model “to life.”
Crypto entrepreneur Anthony “Pomp” Pompliano congratulated Clemente on his chart and said: “This is a banger. Nice work.” Meanwhile, others were not so nice and called the model “hopium” in response to Clemente’s chart.
“Combining old garbage with new garbage. Still garbage at the end of the day,” a critic tweeted. “Also, if bitcoin is so ‘scarce’ and due for a ‘supply shock’ then why has it not put in a new ATH in nearly 6 months? If it’s so rare, why has it been ranging between $30-50k for this long?”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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