August 3, 2021

Newspay

Bitcoin & Ethereum Blockchain News

Most Bitcoiners Think Stock-to-Flow Model Won't Break After Massive Crash

The vast majority of Bitcoiners expect the viral stock-to-flow model to survive despite the collapse in May, according to a poll posted by its creator, PlanB.

Source: u.today

The pseudonymous analyst asked more than 532,700 of his Twitter followers whether they expect the model to break or to post a “buy” signal after yet another bounce off the lower end.

With almost 17,000 people already voting, the majority of respondents expect that the model will hold up.

Only 17 percent of people think that the model is toast while roughly 28 percent were struggling to answer.

Image by @100trillionUSD

Earlier today, PlanB tweeted that the current bull run was “starting to look like 2013,” adding that his model was still intact:

May close $37,341…-35%…we knew #bitcoin would not go up in a straight line and several -35% drops are possible (and indeed likely) in a bull market. Starting to look like 2013. S2F(X) model intact.

Image by @100trillionUSD

The cross-asset S2FX model—which has so far proven to be accurate—predicts that Bitcoin will average $288,000 during the third halvening cycle that will end in 2024.

However, skeptics tend to question S2FX’s veracity since the supply-based model does not factor in demand.