The author of the Stock-to-Flow model, PlanB, acknowledged the failure of his own ‘worst-case’ scenario, under which Bitcoin’s price would have reached $98,000 in November. This is stated in the latest ForkLog analytical report.
In the first half of November, Bitcoin hit an all-time high at $69,000, but the price then corrected, breaking the usual year-end momentum.
Ethereum also reached new highs, rising 7.88% for the month. The price of the leading cryptocurrency, meanwhile, fell 7.14%.
PlanB gave the Floor model another month. He emphasised that the Stock-to-Flow itself remains relevant.
The best performance among mid-cap projects was again shown by GameFi tokens such as Sandbox (SAND), Decentraland (MANA) and Gala (GALA). All of them hit new highs.
A new peak was also reached by Loopring — the native token of the Ethereum scaling solution — at the beginning of the month, with the price of LRC rising to $3.85. Catalysts included speculation about a potential partnership with GameStop, as well as high fees on the network of the second-largest cryptocurrency.
The shares of digital-asset and mining-related companies in November showed predominantly negative dynamics, following Bitcoin’s moves. The exceptions were MicroStrategy, whose securities recovered after another purchase of BTC for $414 million, and mining companies Canaan and Riot Blockchain.
Earlier in November, Huobi analysts warned about the flaws in PlanB’s Stock-to-Flow model. In their view, the author did not account for the normalization of monetary policy ФРС.
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