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For many analysts and experts it becomes quite adventurous for them to predict the movement of bitcoin, Fidelity analyst Jurrien Timmer.
The dominance of bitcoin (BTC) in crypto space can be known by the simple fact that even when any one knows nothing about the crypto, yet he would have known bitcoin (BTC). Charm of bitcoin (BTC) is quite significant and it intrigues people to do more research and find more ways to talk about flagship cryptocurrency.
Now Global Macro Director at Fidelity Investments, Jurrien Timmer has recently shared his opinion regarding the use of the famous stock to flow model that cryptocurrency investors and enthusiasts used widely. The model is among such most commonly used tools those meant to determine the next high or low quite accurately. However Timmer has his different take on it and suggested another better way for approaching stock and its adoption data.
The main problem that analysts have found with the traditional S2F model is that scarcity alone cannot drive the price. To push any assets value scarcity cannot be used alone if it is not used, adopted or any other usage. This is the reason that Timmer himself established an S-curve model that almost mimics the metrics that shows mobile phone adoption curve. According to him, this should help to easily determine the future adoption rate of bitcoin and its overall network growth.
Timmer further added that the accurate prediction of meteoric growth of bitcoins’ model could have been quite accurate given the massive adoption rate of cryptocurrency and he also doubts that the model he proposed will work from now on at the time when the capitalization of bitcoin (BTC) spiked to almost $600 billion.
While forming such a metric, Timer considered the supply limitation that exists on bitcoin currently and added these details on the chart. The projection of supply will also help determine the exact adoption pace and growth of bitcoin . As per three different models, the top most cryptocurrency bitcoin (BTC) is most likely to raise in its value to $63,000 and in the best possible scenario, it could see a rise in its price to $144,000. If this happens then it will be evident that movement of bitcoin (BTC) will be an exact copy of the metrics used for mobile phone S-curve demand.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
