PlanB Doubles Down on Huge Bitcoin Price Prediction Despite Collapse Below $40,0

[Btceth01]

The crypto analyst known for first applying the stock-to-flow model (S2F) to Bitcoin is undeterred by the top cryptocurrency’s brutal price action.
Bitcoin tracker PlanB is sharing his thoughts on the asset’s trajectory, after Bitcoin dipped roughly $8,000 in the span of one hour this week, sinking to $30,414, according to CoinGecko.
The S2F, traditionally used to track the performance of commodities like precious metals, compares an asset’s price to its available supply.
Plan B has amassed a strong following with the stunning accuracy of the S2F and the S2FX, a variation of the S2F, which also takes into account gold and silver’s performance to reach a price estimation for Bitcoin.
In a new tweet, PlanB reiterates his view regarding where we are in the current bull cycle, asserting that Bitcoin is only a few months into its bull run.
“Just to be clear: I do not think $60,000 was the top, far from it, because I do not see the kind of transactions that normally happen after an all-time high (red dots). In fact, I think we are just a couple of months out of the bear market (blue dots). And yes, this on-chain view fits S2F(X). Source