Prominent members of the cryptocurrency community continue to be skeptical of the stock-to-flow (S2F) chart, a Bitcoin (BTC) price forecasting model recently revised by analyst PlanB.
Nico Cordeiro, CIO at quantum cryptocurrency fund Strix Leviathan, called S2F a “chameleon,” a term from Stanford professor Paul Pleifderer that describes models based on questionable assumptions.
“The accuracy of the model is likely to be about as successful at predicting the future price of Bitcoin as astrological models of the past have been at predicting financial performance,” Cordeiro said.
Revisiting past models
It was reported on June 1 that PlanB updated its signature chart, making it appear that Bitcoin was on the verge of a huge rally, leading to a $100,000 BTC price before the end of 2022. This was far from the $9,000–$10,000 range in which the symbol remained for weeks.
On July 1st, analyst PlanB released a new red dot indicating that two months have passed since BTC rewards were halved.
# Bitcoin S2F card update. RED DOT #2 2 pic.twitter.com/L8Fl89yNYx
—PlanB
