Bitcoin is targeting $288K stock-to-flow price ‘like clockwork.
Bitcoin is targeting $288K stock-to-flow price ‘like clockwork.
According to PlanB; Bitcoin is moving "clockwise" towards its $ 288,000 price target.
The other monthly closing price is perfectly aligned with the inventory forecast as Europe saw a recovery in negative inflation and the dollar fell. With the escalation of fiat problems and inflation in Europe, Bitcoin (BTC) rose to $ 288,000 "like an hour" and set a higher target. PlanB, the creator of the inventory flow (S2F) model of the Bitcoin price model, stated in a tweet on September 1 that the BTC / USD performance is fully in line with expectations in August.
BTC price: another month, another "red dot"
PlanB lists monthly closing prices since the halving subsidy in May, stating that each corresponds to its estimates for the S2F cross-asset model.
As a result: "Bitcoin ... like a clock." Since May, Bitcoin has put a fourth "red dot" on its S2F chart. Based on performance after the first two halves, this is just a few months away from a significant price hike.
According to data from S2FX, the current half-life is four years, and the Bitcoin price focus of $ 288,000 needs to be established, as in other years. As PlanB explained earlier, the maximum limit could be more than double.
BTC / USD tried again on Tuesday to break the USD 12,000 resistance and stay at USD 11,950, after which the market began trading on Wall Street.
Winkleworth: US dollar "turning into shitcoin"
Bitcoin's strength comes from new bad news from the central bank. This time the focus is on Europe, with the European Central Bank (ECB) announcing for the first time since 2016 that the euro zone inflation rate has dropped to the negative zone.
As market commentator Holger Zschaepitz points out, despite the ECB's liquidity increase. Hence, the net result of more funds is deflation.
"According to one view, the European Central Bank has failed to stimulate inflation with its currency," Zchepitz said. In the United States, the dust cloud subsided after the Federal Reserve announced last week that the inflation rate temporarily rose above 2%. maintain.
Advocates of Bitcoin and gold are satisfied with the policy's impact on prices, but urging other countries to stop their exposure to the dollar.
On Tuesday, Gemini Exchange co-founder and entrepreneur Tyler Winklevoss continued his style.
He told his Twitter followers: "The US dollar is becoming blockchain at unprecedented speed. Bitcoin is the key to salvation." As Cointelegraph reported, Warren Buffett purchased gold and Japanese assets worth $ 6 billion to produce against the US dollar.
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