Bitcoin to $500k by when? Revealing what PlanB and the metrics say

ambcrypto.com:

On this day last year, Bitcoin was changing hands at a grand total of around $38,400. At the time of writing, however, the king coin was trading at $29,869.80 after rising by 2.09% in the past day and increasing by 0.24% in the last week. Trying to divine Bitcoin’s next movements can feel like trying to stare through walls, but one analyst believes that bulls have a reason to look forward to the future.

The pseudonymous creator of the Bitcoin stock-to-flow model, PlanB, has spent the last few days tweeting his theories about where Bitcoin’s price could go next. The analyst noted that an older S2F model seemed to fit the asset’s current trajectory rather than the update which suggested Bitcoin reaching $100,000 soon.

PlanB claimed that $100k was “too high” an estimate, but consoled bulls by suggesting that the model pointed to Bitcoin reaching a price of $500k after the halving in two years.

— PlanB (@100trillionUSD) May 21, 2022

But in the meantime, how should investors make sense of what’s going on? Data from Arcane Research observed that Bitcoin’s price has been sliding downwards for eight consecutive weeks – marking a new milestone in its turbulent history. However, after months of both dizzying rallies and shocking drops, Arcane Research’s report highlighted that the king coin was settling into stability at last. The report stated,

“During the past seven days, bitcoin has been