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Bitcoin Set For $288K Bull Run In 2020, Popular BTC Price Model Says (The latest update of Bitcoin’s S2FX price model shows July is beginning exactly as required for a long-term bullish trajectory to continue.)

Authored by William Suberg via CoinTelegraph.com,

The latest update of Bitcoin’s S2FX price model shows July is beginning exactly as required for a long-term bullish trajectory to continue.

image courtesy of CoinTelegraph

Bitcoin (BTC) may be struggling to hit $10,000, but its progress is right on track, new stock-to-flow data confirms.

Adding a new update to his model on July 1, stock-to-flow model creator PlanB showed that Bitcoin is behaving exactly as its bullish history demands.

Bitcoin adds second “red dot”

The BTC S2F Cross Asset Model, or S2FX, uses color-coded dots to analyze Bitcoin price action relative to the date of its next block reward halving.

Dots immediately after halving, like at present, are in red and historically precede a jump in Bitcoin's price, which PlanB often refers to as being higher by “an order of magnitude.”

Reflected in the model, the next order of magnitude shift is imminent — it should start before the end of 2020. Between then and the next halving in 2024, the model focuses on a price of $288,000 for BTC/USD, with the potential for much higher peaks.

“#Bitcoin S2F chart update .. RED DOT #2,” PlanB summarized on Twitter, referring to June and July’s markings on the chart.

Stock-to-flow remains a steadfast bullish take on long-term Bitcoin price action, despite fielding considerable criticism this year. 

PlanB maintains that those critics have yet to produce a viable alternative to his model, which has traditionally tracked price behavior extremely accurately. 

Bitcoin S2FX price model as of July 1. Source: PlanB/ Twitter

“Typical” month could spark $12,000 BTC price 

Analyzing monthly returns during the last halving period from 2016 to 2020, PlanB highlighted the “very asymmetrical” nature of Bitcoin price performance. 

As such, for BTC/USD to leave its current stagnant levels at around $9,000 and hit $12,000, all that is needed is a...

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