Cryptocurrency expert believes that bitcoin will rise to $ 78,000 by the end of 2022

Colin Wu, a Chinese journalist and cryptocurrency expert, said that he had studied the Bitcoin (BTC) chart and the Stock To Flow (S2F) model created by an anonymous trader named Plan B. According to the data, the price of the metric deviates greatly from the actual value of the flagship cryptocurrency, and this difference is larger than ever before in history. The analyst noted that S2 °F indicates that the BTC rate will be $ 78,280 on December 31, 2022.

Many Twitter users said that this was a non sequitur and that there was no way that digital gold quotes could reach such a mark in less than a month and a half. Some of the users noted that Plan B’s predictions almost never come true and people no longer see any reason to trust its forecasts.

Stock To Flow (S2F) is a tool for predicting the BTC rate. The way it works is quite simple. It forms a line on the chart that shows the expected price level for BTC based on the number of coins circulating in the market in relation to the BTC mined by miners annually.

Not all cryptocurrency analysts are so optimistic. For example, Arthur Hayes, the former head of BitMEX, believes that we should expect bitcoin at $ 10,000.