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- Elon Musk’s Sunday escapades on Twitter with BTC was not fruitful for the digital currency
- A conservative segment believes it may not breach $100k this year
- The future is amazing for retail investors as higher lows will be created with each coming year
PlanB’s stock-flow (S2F) model is a rage among investors as the predictions have been more than right since its inception in 2019. The stock Flow model is simple as it tracks the Bitcoin in circulation against the quantity produced in a given year. The S2FX model tracks the Bitcoin in circulation against the commodity supply, such as silver and gold, in a particular year. The S2Fmodel predicts that Bitcoin will touch $100k and $288k predicted by the S2FX model by the end of this year. Moreover, according to a poll on Twitter, 10.7% of 53,860 voters believe that $500k will be breached by the same time.
Elon Musk and the never-ending Bitcoin saga
Elon Musk should be called the true and righteous brand ambassador of Bitcoin as the price tumbled $45k this week. He had tweeted that Tesla will not accept payments in Bitcoins which sent the cryptocurrency world in a tizzy. However, in a later tweet, the business tycoon assured that the company had not sold any of its Bitcoin holdings. The company currently holds $1.5 billion worth of Bitcoin, as stated in a filing with the US Securities and Exchange Commission.
Twitterati are conservative about BTC’s price levels
The Twitter poll conducted by PlanB suggests that 44.4% of the audience out of 51,361 voters feel that the price will not breach the $100k mark this year. It is a conservative approach, with the S2F model mirroring the same slogan. A 17% slide in the world’s most famous cryptocurrency was majorly driven due to the outspoken tweets of Tesla CEO Elon Musk. The Technoking of Tesla is varied from the fossil fuel usage and has also stated the importance of a carbon tax policy. The cryptocurrency mining process has the potential to damage the environment and thus a concern for the millionaire.
Will it be able to break the $100k mark?
The global pandemic has led many investors to park their money in BTC and see their fortunes multiply. Many retail investors are eager to join the bandwagon as financial institutions like PayPal, JP Morgan, and Visa have started to accept the digital currency. Over the past 13 years of its existence, it has built trust with reliable technology. The halving event does not have the potential to break the system, nor can it be hacked by someone.
It might be too early to call it a mainstream asset class, but it is closer to $100k than $0. It is never too late to invest in Bitcoin as the future seems bright with new levels being touched each year.
- Elon Musk’s Sunday escapades on Twitter with BTC was not fruitful for the digital currency
- A conservative segment believes it may not breach $100k this year
- The future is amazing for retail investors as higher lows will be created with each coming year
PlanB’s stock flow (S2F) model is a rage among investors as the predictions have been more than right since its inception in 2019. Stock to Flow model is simple as it tracks the Bitcoin in circulation against the quantity produced in a given year. The S2FX model tracks the Bitcoin in circulation against the supply of commodity, such as silver and gold, in a particular year. The S2Fmodel predicts that Bitcoin will touch $100k and $288k predicted by S2FX model by the end of this year. Moreover, according to a poll on twitter, 10.7% of 53,860 voters believe that $500k will be breached by the same time.
Elon Musk and the never-ending Bitcoin saga
Elon Musk should be called the true and righteous brand ambassador of Bitcoin as the price tumbled $45k this week. He had tweeted that Tesla will not accept payments in Bitcoins which sent the cryptocurrency world in a tizzy. However, in a later tweet, the business tycoon assured that the company had not sold any of its Bitcoin holdings. The company currently holds $1.5 billion worth of Bitcoin as stated in a filing with the US Securities and Exchange Commission.
Twitterati are conservative about BTC’s price levels
The twitter poll conducted by PlanB suggests that 44.4% of the audience out of 51,361 voters feel that the price will not breach the $100k mark this year. It is a conservative approach with the S2F model mirroring the same slogan. A 17% slide in the world’s most famous cryptocurrency was majorly driven due to the outspoken tweets of Tesla CEO, Elon Musk. The Technoking of Tesla is vary of the fossil fuel usage and has also stated the importance of a carbon tax policy. The cryptocurrency mining process has the potential to damage the environment and thus a concern for the millionaire.
Will it be able to break the $100k mark?
The global pandemic has led many investors to park their money in BTC and see their fortunes multiply. A lot of retail investors are eager to join the bandwagon as financial institutions like PayPal, JP Morgan and Visa have started to accept the digital currency. Over the past 13 years of its existence, it has built trust with reliable technology. The halving event does not have the potential to break the system nor can it be hacked by someone.
It might be too early to call it a mainstream asset class but it is closer to $100k than $0. It is never too late to invest in Bitcoin as the future seems bright with new levels being touched each year.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
