• The original S2F model puts a target price of $288,000 per Bitcoin
  • The model creator said the money would come from other assets like gold
  • Analysts noted current Bitcoin price behavior mirrors that of 2016

If the popular stock-to-flow (S2F) chart is to be believed, there's no better time for Bitcoin's price to be around $10,000 than now, says analyst PlanB.

In a tweet Monday, PlanB, the creator of S2F model, has shared an update of the first version of his chart, the time series model developed in 2019 based only on historical data. (Future S2F versions incorporated other data like gold or silver price.)

The chart shows that there is a jump in the value of bitcoin every halving. At this point, the white line has already made a jump, indicating that the real-time price of bitcoin should go up, just like how it did in previous halvings.

The original S2F model puts a target price of $288,000 per bitcoin. When asked where the money will come from for Bitcoin to have that value, PlanB said it would come from other assets like gold and silver, countries with negative interest rates, countries with "predatory" government and billionaires and investors trying to protect their money from quantitative easing.

Cointelegraph analyst Michael Van de Poppe said the price pattern plotted on the S2F model in 2016 is the same that he has observed through technical analysis. "Slow upwards grind, with long sideways consolidation periods," he shared on Twitter. He also said this same chart pattern would be observed this year and in 2021.

Bulls are in relief as Bitcoin closed Monday at $10,675, a 3% increase from the previous day. Despite the massive drop from the $11,000 range, the benchmark cryptocurrency has yet to close below $10,000, which analysts said is a bullish sign. Some analysts pointed out that the strength of $10,000 is because it took two months of consolidation at $9,000 to break that level on July 27. "I am flabbergasted by the strength shown at $10,000," said Su Zhu, CEO of Three Arrows Capital.

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