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Bitcoin Booster PlanB Accused of Making "Aggressively Stupid" Forecasts

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Thu, 05/26/2022 - 14:51
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Alex Dovbnya
Investor Ari Paul says that PlanB is engaging in "malicious scamming"
Bitcoin Booster PlanB Accused of Making "Aggressively Stupid" Forecasts
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BlockTower Capital CIO Ari Paul has lashed out at pseudonymous cryptocurrency analyst PlanB in a recent tweet, accusing the popular Dutch influencer of making "aggressively stupid" price forecasts.

He described the analyst as the "Terra/IOTA/XRP" of Bitcoin predictions, referring to controversial cryptocurrencies that often face accusations of fraud.

PlanB's stock-to-flow (S2F), which predicts that the price of Bitcoin will keep seeing higher peaks due to its in-built scarcity, gained plenty of popularity within the cryptocurrency community. It has appeared on CNBC, the leading business news TV channel in the U.S., gaining more fans. Meanwhile, PlanB became one of the top Bitcoin influencers on Twitter, with more than 1.8 million followers.

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 The analyst became the subject of mockery after Bitcoin failed to hit the $100,000 price mark by the end of 2021, after peaking at $69,000 in early November. Despite previously saying that a failure to reach the aforementioned milestone would invalidate the S2F model, PlanB backtracked on his earlier statement and reassured his followers that the model was still "intact."

After Bitcoin careened even lower in early 2022 and ultimately plunged to $25,000 in May, PlanB stuck to his guns. In a recent tweet, he claims that Bitcoin is now on track to hit $500,000 by the end of 2025.

PlanB
Image by twitter.com

After facing pushback from Paul, PlanB once again defended his model, claiming that it does not account for black swan events. The analyst tends to block people who criticize a model that has been proven wrong over and over.

"This is malicious scamming," Paul concluded.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.