• Tue. Oct 3rd, 2023

Bitcoin Price Poll: Crypto Members Do Not Think Price Could Reach Above $55,000 by December 2021

Hassan Mehmood

ByHassan Mehmood

Oct 3, 2020

Creator of prominent Bitcoin model S2F has created a poll over Twitter asking people about BTC price by the end of 2021. The majority of the voters say Bitcoin could not cross even $55,000 by 2021.

S2F Founder Created Bitcoin Price Poll

S2F founder with the Twitter name “PlanB” has asked his followers about BTC price through a poll. He gave four options to voters, which are dependent on different versions of the original S2F model. According to the first-ever version, the value of Bitcoin could reach $55,000 at the end of 2021, with market capitalization up to $1 trillion.

According to the second version called S2Fv2, BTC price has a capacity to witness $100,000 by December 2021. Similarly, the third update known as S2FX predicts $288,000 for Bitcoin by 2021.

S2F model is based on historic data since the creation of Bitcoin. It explains the BTC transition from “proof of concept” to the current “financial asset” state after going through payment and digital gold states.

The results of his poll are not correlated with the predictions given by S2F models and its updates. The majority think Bitcoin could not cross $55,000 by December 2021. Out of 24,134 voters, 19.3% believe the price could reach $55k. 26.5% of participants predict $100k for the top digital asset, while 19.5% expect $288k by the end of 2020.

Although there are many models that beautifully explain Bitcoin prices in the future, S2F is the most popular one among crypto members. It is based on the idea that scarcity of Bitcoin is the major driving force that can push the price upward because of minimum inflation. Scarcity is determined on the basis of current supply and new BTC production rate.

BTC Price is Stable

According to CoinMarketCap, Bitcoin is exchanging hands at $10,556 with a slight increase over the last 24-hours. Experts claim that the BTC price has recovered itself after crashing a bit due to the BitMEX case and Trump’s COVID-19 positive test. After the US regulator published a press release stating charges against crypto derivatives exchange BitMEX, the price of the top digital asset crashed, but then it managed to remain calm.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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