Nearly half of Twitter users believe that the price of bitcoin will not reach $ 50,000 by 2021
In recent weeks, discussions have intensified over the work of renowned Bitcoin analyst (PlanB), and its supply-side accumulation (S2F) model.
Some believe that his model and theory are logical and valid, while others are unsure.
According to a news report, on July 3, the analyst conducted a poll and asked the Bitcoin community whether they would accept the accumulation model.
The results of this survey show that the positive and negative responses were almost the same.
On July 3, the quantitative analyst, nicknamed Plan B, launched a poll on his Twitter page, which has 115,000 followers.
The analyst's question was, what will be the price of Bitcoin before December 2021? $ 288,000, $ 100,000, $ 55,000, or under $ 55,000?The prices set by the accumulation model were obtained by this analyst.
This model will become invalid if Bitcoin prices do not reach these levels by December 2021.More than 42.5 percent of respondents to Plan B's unannounced poll said Bitcoin would not exceed $ 55,000. However, 57.5 percent believed that over $ 55,000 would be possible over the next 18 months.
Different analyzes of the Bitcoin community from the accumulation to supply model have been accompanied by an increase in criticism of Plan B's ideas.
Nico Cordeiro, chief technology officer at Strix Levithan, a digital asset investment company, last week wrote a report titled "A Model That Changes Color Like a Sunscreen; "Why is the accumulation model so poorly supplied with bitcoin?" He said, trying to question the model.
According to the report, the model predicts that the price of bitcoin will exceed $ 200 million and is therefore irrational.
Cordeiro also points out that there is no evidence that the ratio of accumulation to the supply of gold has an impact on its price throughout history.
In addition, economist Alex Krüger had expressed doubts before. The economist writes:
The use of accumulation-to-supply models to predict the price of bitcoin is similar to trying to predict the price of bitcoin using lunar cycles around the earth.
Accumulation analysis to supply is interesting.
But this model has no application in predicting the price of bitcoin; Because the basic assumptions of this model will not be realized now or at any other time
.
Although there are doubts, there are still some people in the Bitcoin community who support this theory.
Jimmy Song, a programmer and professor of bitcoins, wrote that it is too early to validate or invalidate this model.
Why do people question the accumulation model so much after a few network hardware settings after Hawking?
The model predicts that Bitcoin will reach $ 100,000 before 2021. Announcing victory now is like announcing victory 5 minutes after the start of the game!Max Keiser wrote on his Twitter account on Friday:
So far, the arguments put forward to criticize the accumulation model for supply have been just a few of the "accidental and coincidental" phrases from people who have sought attention
.
The accumulation model offers a valid and reasoned analysis of the price of bitcoin, which offers a very good view of the market.
Keiser claim that the accumulation model is a "valid and well-reasoned analysis" is likely to point to the lack of appropriate evaluation models in the Bitcoin market.
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