Before crypto analyst PlanB released another ‘red dot’ for its stock-to-flow chart, critics of the prediction model were voicing skepticism.
Prominent members of the crypto community continue to express skepticism over the stock-to-flow (S2F) chart, a Bitcoin (BTC) price prediction model recently revised by analyst PlanB.
Nico Cordeiro, CIO at crypto quant fund Strix Leviathan, called S2F a “chameleon,” a term from Stanford professor Paul Pleifderer describing models built upon dubious assumptions.
“The model’s accuracy will likely be about as successful at forecasting Bitcoin’s future price as the astrological models of the past were at predicting financial outcomes,” Cordeiro said.
Revisions to past models
Cointelegraph reported on June 1 that PlanB had updated its signature chart, making it seem as though Bitcoin was on the cusp of a massive bull run leading to a $100,000 BTC price before the end of 2021.