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Stock to Flow Analysis Shows Bitcoin Could Reach $288K This Year

1 min
10 April 2021, 10:25 GMT+0000
Updated by Ryan James
10 April 2021, 11:19 GMT+0000
In Brief
  • Perianne Boring has told CNBC that bitcoin may reach $288k, according to S2F analysis.
  • The digital asset could equal 10,000 ounces of gold in 2029.
  • S2F analysis tips bitcoin to outperform gold.
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Analysis from bitcoin’s stock to flow shows that the digital asset may reach $100,000 to $288,000 this year.

Bitcoin and altcoins keep recording new highs with retail and institutional interest at peak level. The leading digital asset crossed $60,000 momentarily to form a new all-time high.

There have been several speculations regarding the next destination. Many suggested that the markets were overbought already and was destined for a heavy correction. Several others argue that bitcoin is still very undervalued.

Certain metrics point to the latter, including the stock to flow model. As pointed out by the founder of the Chamber of Digital Commerce Perianne Boring, bitcoin may rise even further. The Stock to flow model estimates that the digital asset may reach $100,000 to $288,000, this year. Speaking on CNBC, Boring said:

“Stock to flow says bitcoin should be priced at $100,000 to $288,000 this year. We have 12 years of data on Stock to flow on bitcoin. If you measure with the U.S. dollar, stock to flow is 94% correlated.

When you use gold, stock to flow is 99% correlated. Stock to flow also says one bitcoin will be 10,000 ounces of gold in 2029. That’s what people mean when they say bitcoin is eating gold.”  

Boring’s analysis is based on the Stock to Flow (S2F) model which evaluates the stock of a commodity against the flow of new production.

Bitcoin’s volatility declines

Bitcoin’s volatility has gradually declined over the past few months. JP Morgan analysts believe that this could facilitate adoption in the banking sector. Following bitcoin’s surge to $60,000, a major retracement was expected, but the price has stabilized instead.

In the last seven days, bitcoin’s price has hovered between the $56,000 support and $60k resistance. Its market cap is still well over $1 trillion.


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