Analyst PlanB, the creator of the Bitcoin stock-flow price model, advised analysts to be “patient” with the price hike on September 2.
“The Bitcoin price is on its way, it’s coming. He’s here, he’s coming!”
Although Bitcoin jumped from $11k of support on Wednesday, it has been performing exactly as expected in monthly time frames since the split in May.
Progress can be seen on the monthly chart, although it has been characterized by resistance to price movement in excess of $ 12,000 and turning it into support.
“Reminder: we are still at the beginning, following the path between 2012 and 2016, only 4 months have passed since the 2020 half, “PlanB stated.
“Patience is a virtue.”
A comparative price index table shared by the analyst shows that in 2020, Bitcoin has seen an increase in value between 2012 and 2016 earnings.
According to the stock-flow price model, Bitcoin targets $288 thousand in the current half-cycle ending in 2024.
Year-end target $41k
Another picture released over the weekend paints a much more positive picture for Bitcoin.
Data analysis source echoinometry set a price target of $41k for the end of the year, taking the starting point of the split in May.
The company commented that it “looks solid” and added that Bitcoin could reach $100,000 by April 18, 2021.
