As the cryptocurrency market seeks to exceed the $ 2 trillion estimate, Bitcoin (BTC) has grown by more than 3% over the past 24 hours, breaking the $ 47,600 level. Over the past three months, the BTC price has crossed these levels for the first time.
As it turned out, bitcoin very accurately follows the Stock-to-Flow (S2) model developed by the popular cryptanalyst PlanB. In June 2021, when BTC was trading below 35 thousand dollars, Plan B gave its forecast for the months following August. According to it, by the end of December 2021, the price of BTC will reach $ 135 thousand.
✅ Aug > $47K https://t.co/tj6SSwSzKR
— PlanB (@100trillionUSD) August 13, 2021
Along with the current price jump, bitcoin has also demonstrated a significant improvement in network performance.
In particular, bitcoin miners continued to accumulate – over the past month, the balance of miners has been constantly growing, which is a good sign. This means that they expect a further increase in the price of bitcoin, so they do not want to fix profits now.