Following an epic fail from pseudonymous analyst, PlanB, Bitcoin was trading at $50,000 on December 25th, avoiding an unwelcome Christmas Day surprise for BTC bulls.
PlanB Model Fails Bitcoin
PlanB’s model failed many crypto investors who must be looking at their portfolios with disappointment, as the pseudonymous analyst’s $100,000 Bitcoin prediction did not come true on December 25.
BTC/USD maintained $50,000 support into the weekend, according to TradingView data, after ranging following local highs above $51,500.
As the Christmas season began, the pair remained placid, with thinner liquidity yet to manifest itself in the form of violent price movements.
With most traders and analysts taking a break from trading and analysis, the $1 trillion market cap valuation level at $53,000 remained the closest upside objective.
BTC trading at $50k. Souce: TradingView
PlanB made a point of separating his floor model from the Bitcoin stock-to-flow model. The floor model failed in November and December, according to the analyst, as it did not reach the minimum expected costs of $98,000 and $135,000, respectively.
PlanB had previously stated that if Bitcoin did not reach $100k in December, his stock-to-flow model would be invalidated, but he now appears to be changing his mind. Instead, PlanB stated in a recent tweet,
Let me be clear:
1) Nov98K & Dec135K miss = FLOOR MODEL FAIL
2) Dec100K miss: I have said earlier that if BTC<$100K Dec2021, then S2F is “off the rails” “invalidated” “dead”. Tbh that was an ill attempt to clarify “$100K average this cycle” &…