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Bitcoin

Bitcoin S2F Creator: The Next 6 Months Will Make or Break the Model

by Miki 07/01/2021
by Miki 07/01/2021 0 comment
  • Bitcoin closed the month of June at a value of $35,037
  • According to PlanB, the monthly close was at the lowest boundary of his Bitcoin S2F model
  • Bitcoin had a similar close in January 2019 when it deviated by -61% from the model
  • The next 6 months will be a make or break time period for the Bitcoin stock-to-flow model
  • Bitcoin has dropped below $35k and is defending the $33k support zone

The creator of the Bitcoin Stock-to-Flow model, @100trillionUSD, also known as PlanB, has once again offered insights into the model’s possibility of being invalidated by BTC’s current price action.

According to PlanB, Bitcoin’s monthly close for June at $35,037 was at the lowest boundary of the model as was the case in January 2019. Additionally, the next 6 months will determine whether the model remains valid.

PlanB shared his insights into Bitcoin through the following statement and accompanying chart.

June closing price $35,037 .. as far below S2F model as in Jan 2019. Next 6 months will be make or break for S2F (again).

Bitcoin S2F Creator: The Next 6 Months Will Make or Break the Model 17

Bitcoin Has Deviated by -61% from the Stock-to-Flow Model

When asked by how much Bitcoin had deviated from his stock-to-flow model, PlanB responded that BTC has drifted away from the model by -61% as was the case in January 2019. His response has been highlighted in the screenshot below.

Bitcoin S2F Creator: The Next 6 Months Will Make or Break the Model 18

Bitcoin Drops to the $33k Support Zone

At the time of writing, Bitcoin is trading at $33,100 and $2k lower than the monthly close of around $35k that was only hours ago. Bitcoin’s rejection at the latter price area also converges with the 50-day moving average (white) as seen in the following BTC/USDT chart.

Bitcoin S2F Creator: The Next 6 Months Will Make or Break the Model 19

From the chart, it can be observed that Bitcoin is still experiencing some side effects of the death cross that occurred in late June. The daily trade volume has also reduced tremendously and Bitcoin could be headed for a retest of $30k or lower in the days to follow.

However, such a bearish scenario can be averted if the Bitcoin bulls can manage to push BTC’s price above the aforementioned 50-day moving average. Such a feat would provide a signal for other traders to start buying the digital asset.



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The New Jersey Crypto News
  • Home
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      How to Trade Futures Contracts on Changelly PRO

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  • Analysis
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      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

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      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

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