**The creator of the popular stock-to-flow model (S2F) claimed that Bitcoin's bull run is not over and its price could rise more than 40% by the end of August. Over the past few months, the BTC price has dropped nearly 50% from its mid-April peak, which has questioned the state of the bull market.
While most of the community is debating whether the 2018 scenario will be repeated once again, PlanB, the person behind the S2F model, believes BTC is poised for more gains.
“My on-chain data tells me this bull is not over and $64,000 is not the top.”
Bitcoin has since lost roughly half its value, following Elon Musk and FUD from China. However, PlanB believes that current price movements are in fact aligned with the S2F model. Except for S2F, the base indicator says we won't go below $47,000 by the end of August.**
The stock-to-flow model and its variables is a type of analysis that examines Bitcoin production, supply, and development over the past decade. As a result, the model predicts a price tag within a six-digit region by the end of the year.
However, as we reported earlier, the stock-to-flow model, which had previously accurately predicted BTC price since earlier this year, is now showing a price mark of around half a million dollars by 2022.
According to the same data, the BTC price is preparing to rise above $ 100,000 by the end of the year. Interestingly, the Bitcoin S2F model and On-chain data followed the same pattern as they mimicked each other in terms of price action. The data also appears to mimic the 2013 bull run.