- Bitcoin price is on track to reach $250,000, according to a well-known cryptocurrency analyst.
- PlanB’s S2F model predicts that BTC will hit $100,000 by year’s end, which could fuel another explosive rally.
- However, the analyst further pointed out that another prominent Bitcoin price model may be invalidated.
Bitcoin price recently recorded a new all-time high at near $69,000 on November 10 fueled by sustained inflation. The argument that the leading cryptocurrency is a hedge against rising cost pressures has been fueled by inflationary fears. While BTC skyrocketed to a new record high, a prominent analyst believes that the flagship digital asset could reach $250,000 by January 2022.
Bitcoin price awaits major explosive rally
While $1 million has become a focus for 2025, according to the stock-to-flow model for Bitcoin price, the leading cryptocurrency could easily hit $250,000 by early 2022, according to analyst Matthew Hyland.
The analyst further pointed out that only one of the Bitcoin stock-to-flow models could survive after 2022, being the (S2F) model rather than the stock-to-flow-asset (S2FX) model.
Hyland highlighted that the BTC market has not experienced euphoria yet, but this stage could come when Bitcoin price breaks above $100,000. According to PlanB’s S2F model, the bellwether cryptocurrency will have already reached $100,000 by December this year.
Once the S2F model gets validated with Bitcoin price reaching $100,000 in December, Hyland stated that “all eyes will be on the S2X model,” which predicts that the flagship cryptocurrency would reach $288,000 for this bull run.
He added that the S2X model could be a catalyst for the late stages of the euphoric run since PlanB has predicted correctly on the S2F model on the price of BTC. Out of fear of missing out, investors would then be likely to believe that the $288,000 target is on the radar.
However, Bitcoin price could be confronted with a setback, as Hyland believes it could be a “sell the news” event, as larger players could provide liquidity for other big investors to sell at higher prices. The analyst said that while $288,000 is the target price, BTC will fall short at $250,000.
In 2017 Bitcoin had a 150% move from $8,000 to $20,000 once euphoria started right after Thanksgiving of that year
I believe when $100k breaks in December, euphoria will start and another $150% move in less than a month will ensue
Bitcoin will reach $250,000 in January of 2022 pic.twitter.com/zsa9W2ifKL
— Matthew Hyland (@Parabolic_Matt) November 9, 2021
