Despite BTC’s lackluster performance in September historically, 2021 could be an outlier to this trend if current market momentum persists…
September is historically Bitcoin’s worst-performing month. That said, it has been verging on $50,000 for the past three weeks or so now. Should Bitcoin stage a breakout above this psychologically significant milestone, it could renew investor interest and spark the momentum needed to carry it all the way back to $60,000.”
Stock To Flow Model “filled with promise”
Twitter user PlanB’s stock-to-flow (S2F) model has been one of the most accurate quantitative models that attempt to evaluate and forecast the price of Bitcoin.
It does this based on the supply injections of the asset into circulation in a certain period.
According to the model, the price of Bitcoin is supposed to have gone past $100,000 to exchange hands around the $105,000 mark.
Even though the S2F model has been highly accurate in forecasting the price of Bitcoin until now, it is important to note that all technical indicators have their limitations. Humiston spoke more on the broader perspective of the cryptocurrency market, saying, “A move to $100,000 in four months would require a significant inflow of capital. While certainly not impossible, it seems improbable now that investors’ attention has turned to alternative crypto assets such as Ether, Cardano and Solana.”