The Unpredictable Predictability of Bitcoin Pricing
Bitcoin, the digital currency that has taken the world by storm, is known for its unpredictable price fluctuations. However, in a shocking turn of events, a specific model managed to predict the peak in 2021 at above $60,000 as far back as 2019. Now, this same model is pointing to a peak range near $732,000 per coin. Is this a realistic estimate or just pure hope? Let’s take a closer look at the model and find out.
Predicting The Last Bull Market Peak Years In Advance
Back in 2019, the go-to model for predicting future Bitcoin pricing was Plan B’s now debunked Stock-To-Flow (S2F) model. But around the same time, Greg Cipolaro took a stab at modifying the S2F model with highly accurate results.
While Plan B’s take failed to bring the price per BTC above the projected $100,000 or more, Cipolaro’s model nailed a peak range near $60,000.
Bitcoin reached $65,000 in April 2021 and then surged to $68,000 in November 2021. If anything BTCUSD overshot his modest estimates while price undershot Plan B’s by miles.
The model is based on post-halving supply reduction price targets. More importantly than what happened after the 2020 halving however is what Cipolaro’s model predicts after the next halving.
Could BTC be worth over $700K? | Greg Cipolaro on Twitter
Could Bitcoin Reach $732K After The Next Halving?
While getting it right just one time per Cipolaro’s model is notable; it could be a matter of luck or coincidence. If the model works again though – well then we might have something significant here!
This especially holds true when considering that his next projected target sits at an eye-watering figure of approximately$732k per BTC! This number towers high above most other estimates out there which point towards figures between only$100k and$200k per coin!
This represents roughly an increase of about1800% from current levels! From its lowest point during Black Thursday where it hit rock bottom at only$3800 all through up until its highest peak so far reaching an impressive$68000 – this represents nearly1600% return!
During just one year alone – yes you guessed it right – during our beloved year of2017 alone,Bitcoin surged by over2000%! And mind you,this occurred after prices had already appreciated by over400%. Today,Bitcoin stands tall having risen140% off lows experienced back in2022.
So,could our top cryptocurrency add another1800% onto these numbers,to reach our models predicted peak?
In conclusion,it seems like no matter how unpredictable things may seem with regards to Bitcoin pricing,the predictions are always bound to surprise us all!