Despite the recent fall in the price of Bitcoin, which stirred up some concern among traders, the Stock-To-Flow creator, PlanB, has predicted that BTC would reach $100,000. Specifically, PlanB said BTC would hit the price target between the second and third fiscal quarters of 2021.
In a tweet posted on the 24th of January, PlanB said:
“If history is any guidance and Bitcoin continues its current trajectory, BTC would be $100k somewhere between April and September.”
Bitcoinist noted that PlanB’s bullish analogy and prediction on BTC is based on the increasing demand for the king coin as its production rate slows down.
Apart from PlanB, other crypto analysts have revealed their bullish price targets on the top cryptocurrency. On the other hand, investors and fund managers are also worried that the BTC surge may end up being a bubble.
Several analysts believe that Bitcoin has rallied more than its worth, which may lead to a reversal. The analysts’ concern is due to Bitcoin’s significant uptrend following its mid-march crisis. Earlier this year, the king coin climbed over 1,000%, reaching a new high.
Speaking to the Financial Times, Baupost Group founder Seth Klarman said that crypto investors believe that risk in markets “has simply vanished.” The co-founder of GMO, Jeremy Grantham, also said that the BTC surge since 2019 is a “fully-fledged epic bubble.”
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