PlanB Says He’s Selling His Bitcoin at This Price Level, and It’s Not $288,000

PlanB Says He’s Selling His Bitcoin at This Price Level, and It’s Not $288,000

News
May 26, 2021 by J.D. Smith
10
The crypto analyst best known for pioneering the use of the stock-to-flow (S2F) model in predicting Bitcoin’s trajectory unveils that he’s willing to part with his BTC at a certain price level. In a new tweet, PlanB tells his 517,300 followers that he’s prepared to hold the leading crypto asset either to his target price

The crypto analyst best known for pioneering the use of the stock-to-flow (S2F) model in predicting Bitcoin’s trajectory unveils that he’s willing to part with his BTC at a certain price level.

In a new tweet, PlanB tells his 517,300 followers that he’s prepared to hold the leading crypto asset either to his target price or to zero.

“I see my Bitcoin investment as a call option. I will either ride it to zero or $1 million+ and sized my (initial) position accordingly.”

While the cryptocurrency analyst had previously predicted Bitcoin will hit $100,000 based on the stock-to-flow model and $288,000 based on the stock-to-flow cross asset (S2FX) model, his focus is now on the bet that Bitcoin’s upside potential is greater than the downside risk.

“I am less interested in $100K-$288K, but focused on 2024 halving and beyond. I don’t care about volatility, asymmetric return is key ($0 vs. $1 million).”

PlanB also explains that the Bitcoin sell-off experienced last week triggered huge losses to the tune of tens of billions of dollars.

“So what happened in May? Weak hands sold ~1 million BTC in May at $30,000 – $35,000 … which they bought in April at $55,000 – $60,000: a staggering ~$20 billion loss. The good news: these 1M Bitcoin are in strong hands now…

For [newbies] this volatility can be too much. We all know the kind of people that sold in May. Look around you. These are always the same people.”

Source: PlanB/Twitter

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