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Why bitcoin could break $100K by 2023 with StormGain
Bitcoin is already predicted to increase in value this year, but this could be just the beginning of a long-term climb to dizzying heights. According to renowned price PlanB, there are “more one hundred-plus events” indicating that BTC price will rise past to $100,000 next year. PlanB’s projections are based on his stock-to-flow bitcoin price model, which the analyst says calls for a mid-term price tag of six figures. Furthermore, the bullish bitcoin pundit dismisses concerns about how quickly or slowly the bitcoin rise happens as “irrelevant.” Stock to flow ratio, basically a measure of abundance is the amount of a commodity held in inventories divided by the amount produced annually. Gold traditionally has the highest stock to flow ratio of all commodities, hence its high price and value as a safe haven asset. Bitcoin is designed to be similar to gold in many ways. As new coins are mined, rewards diminish over time to ensure a finite amount of bitcoin in existence.