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Bitcoin (BTC) managed to briefly trade above $40,000 last week but ultimately failed to sustain its momentum. At the time of writing, the world’s largest crypto by market cap traded at $33,107 based on data from Coinmarketcap.
While Bitcoin appears to have a hard time climbing back to the $40K level at the moment, Plan B, the pseudonymous creator of the popular stock-to-flow (S2F) bitcoin price model, remains very optimistic on BTC’s potential price trajectory. Plan B recently released his latest price prediction saying that BTC could trade at $135,000 by December this year as the worst-case scenario.
“Bitcoin is below $34K, triggered by Elon Musk's energy FUD and China's mining crackdown,” PlanB posted on Twitter on Sunday. “There is also a more fundamental reason that we see weakness in June, and possibly July. My worst-case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.”
Plan B urged his followers to read his tweet carefully emphasizing that it’s just a worst-case scenario. “Please read my tweet more carefully,” Plan B posted. “I said this is a worst-case scenario, not a base case, let alone best case. I am still on S2FX track for my base case. I have explained my personal (non)selling strategy in several interviews.”
When someone asked what the “more fundamental reason” was for BTC’s price weakness this June, Plans B promised that the topic will be covered in a future post. “Great question. I [intend] to publish later this year,” the analyst replied, according to Bitcoin.com.
Plan B also hinted that, aside from his worst-case scenario prediction, he also has a more bullish prediction for the crypto. “Wait until you [see] my base case and best-case scenarios! OK, a hint: best case Dec $450K,” Plan B replied to a message by popular Bitcoiner known as Parabolic Trav.
