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Most Bitcoiners Think Stock-to-Flow Model Won't Break After Massive Crash

Tue, 06/01/2021 - 16:05
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Alex Dovbnya
Over 50 percent of Bitcoiners are convinced that the stock-to-flow model will be able to survive despite the cryptocurrency's historic crash in May
Most Bitcoiners Think Stock-to-Flow Model Won't Break After Massive Crash
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The vast majority of Bitcoiners expect the viral stock-to-flow model to survive despite the collapse in May, according to a poll posted by its creator, PlanB.

The pseudonymous analyst asked more than 532,700 of his Twitter followers whether they expect the model to break or to post a "buy" signal after yet another bounce off the lower end.
 
With almost 17,000 people already voting, the majority of respondents expect that the model will hold up.

Only 17 percent of people think that the model is toast while roughly 28 percent were struggling to answer.

A poll
Image by @100trillionUSD

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Earlier today, PlanB tweeted that the current bull run was "starting to look like 2013," adding that his model was still intact:

May close $37,341...-35%...we knew #bitcoin would not go up in a straight line and several -35% drops are possible (and indeed likely) in a bull market. Starting to look like 2013. S2F(X) model intact.

Bitcoin
Image by @100trillionUSD

The cross-asset S2FX model—which has so far proven to be accurate—predicts that Bitcoin will average $288,000 during the third halvening cycle that will end in 2024.

However, skeptics tend to question S2FX's veracity since the supply-based model does not factor in demand.

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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.