Bitcoin (BTC), News

35% in a Twitter Poll Say Bitcoin Price Will Stay Below $55K By the End of 2021

Responding to a Twitter poll that had been conducted recently by the founder of the famous Bitcoin Stock-to-Flow (S2F) model PlanB, the majority of the respondents said that they believe the leading digital currency Bitcoin (BTC) will either reach $55,000 by the end of the year 2021 or it will stay below this mark.

Recently, PlanB conducted a Twitter poll in which he asked people what they think about Bitcoin’s price whether it will hit $288,000, $100,000, or $55,000 by December 2021? Or it will remain below the $55k mark? The majority of people participated in this poll. There were around 24,134 voters who took part and responded.

The final results of that poll have been out now according to which almost 35 percent of all the respondents said that the major cryptocurrency will end the year 2021 by staying below $55,000. 19.3 percent of them said that Bitcoin’s price value will hit $55k by December 2021. While on the other hand, 26.5% out of the total claimed that Bitcoin will ultimately reach $100,000 by the end of the next year and 19.5 percent favored the possibility of Bitcoin reaching the $288,000 mark in this time period.

Source: Twitter

However, if we look at the current performance of Bitcoin it really seems difficult for Bitcoin to go even near about $55,000. Currently, the price value of Bitcoin is trading at around $10,500 with a change rate of 0.27% at the time of writing. At the moment, it is facing a huge resistance of $11,000 coming ahead that has become a psychological barrier for Bitcoin now. There is very little chance for Bitcoin to start a major bull-run until it breaks this resistance.

A few years ago, the famous cryptocurrency analyst and twitter user known as PlanB invented the Bitcoin (BTC) Stock-to-Flow (S2F) model. In the first version, he predicted that the price value of Bitcoin will hit $55,000 by the end of 2021. In the second version which is known as S2Fv2, he said that Bitcoin will reach $100,000. While in the third version of the model (S2FX), he claimed that the price of BTC will skyrocket to $288,000.

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