Wednesday, September 28

Plan B failed to price bitcoin at $ 100,000, as Bukele speculates

Bitcoin (BTC) fell short of the $ 100,000 price tag at the close of 2021 and the Stock to Flow (S2F) model failed for the first time in nine years. That is what the analyst known under the pseudonym Plan B points out, who this Sunday said that it is subjecting its predictive models based on S2F to a review. However, the president of El Salvador Nayib Bukele dares to say that, in 2022, the pioneering cryptocurrency will reach the figure.

Plan B has become known in the bitcoin world through various predictive models and currently has more than 1.7 million followers on Twitter. The analyst gained popularity for guess the price that bitcoin would reach year after year, since 2012 through S2F.

However, 2021 was the first year in which his prediction that the cryptocurrency would hit the price of $ 100,000 fails, so for that reason this reconsidering what you will rely on in the future to make more accurate forecasts.

The creator of S2F also builds on his other models, which he has called the on chain model or floor model, but while putting all his strategies under review, he also makes it clear that there is no exact way to predict the price of bitcoin.

Although he is rethinking his models, Plan B believes that S2F remains in force, for him the fault was in having fixed a specific figure instead of having indicated a range. “It is never a point estimate, it is a range, so what is more important in my opinion that btc is in the band of 50,000 to 200,000”, he pointed.

The price of bitcoin, according to Bukele

At the same time that a famous analyst like Plan B reviews its predictive models because the market has spoken against all forecasts. Without any kind of foundation, Nayib Bukele believes that this year bitcoin will reach $ 100,000.

The President of El Salvador public on Twitter what he called his “predictions of 2022”, but by not presenting bases to support them, these are only speculations. So, according to Bukele, bitcoin will not only double its current value, but it will also become a major issue in this year’s US Senate elections.

The president also believes that two other countries will follow in the footsteps of El Salvador and they will adopt bitcoin as legal tender, although he did not mention what those territories would be. Among his points, he mentions that the so-called “volcano bonds” or the bonds that his country will support for bitcoin mined with energy from volcanoes, will be issued “in excess.”

With this new action, Bukele seems to be making it clear that he intends to become an authority in the ecosystem. The funny thing is that in his eagerness to be a leading figure in the bitcoin world, he seems to be putting aside other tasks that concern him more as president.

As CriptoNoticias has published, so far, Bukele has not responded to citizens who ask him Who is custodian of El Salvador’s bitcoin funds?Nor has it responded to the multiple complaints that exist regarding the Chivo Wallet, nor to the disappearance of funds from the accounts of Salvadorans.



Reference-www.criptonoticias.com

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