BTC At A 55% Discount. – Analysis Shows Bitcoin On Track For An Immense Upsurge In April.
04 Apr 2022, 08:00
BTC At A 55% Discount? – Analysis Shows Bitcoin On Track For An Immense Upsurge In April
Bitcoin emerged into a new month with a shakeout of some of its gains in the previous quarter. BTC fell around 5% on the last day of March to close the month at a price of $45,517 as noted by PlanB, the creator of the Bitcoin stock-to-flow (S2F) model.
S2F model still in play – PlanB maintainsAn observation made about the chart noted that it was currently off track in its projection. However, the pseudonymous analyst asserted that the model had been more off-track than it is at present on two other occasions – at the peak of the 2011 and 2013 markets.
He added that if the S2F model is still in play, it means that “Bitcoin is at a 55% discount right now.” The analyst also noted that with 23 months to the next halving, all kinds of market moves were possible, although Bitcoin’s resilience will continue to remain.