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24 October 2020

Move over S2F — Model creator says ‘90% chance’ BTC never dips below $11K again

Move over S2F — Model creator says ‘90% chance’ BTC never dips below $11K again


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The author behind a valuation model for Bitcoin that's based on Metcalfe’s Law says the crypto asset will likely be priced around $12,000 by the end of November and reach $1 million within a decade.

11 Twitter thread, Timothy Peterson, Global Macro Manager at Cane Island Alternative Advisors, said there is “90% chance that Bitcoin will never again close below $11K.” Disclaimer: While he’s deadly serious, the prediction recalls the oft stated meme about the “last chance” to buy Bitcoin under $10K, which has frequently been proven wrong.

Using this information Peterson created a price model based on Metcalfe’s Law, which says the value of a communications network is proportional to the square of the number of its users.

Anderson’s “lowest price forward” model is a competitor to the most popular Bitcoin valuation model, stock-to-flow (S2F), created by Crypto Twitter user PlanB, that predicts a Bitcoin price of $288,000 by the next halving.

Despite their differences, both price prediction models see a bullish future for Bitcoin

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cointelegraph.com
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