Bitcoin’s price could double in the coming days
Yocom-Piatt sees higher prices for Bitcoin. “In the short term, I expect the price to roughly double, but longer-term predictions are difficult to make in the context of the boom-bust pattern of cryptocurrency markets,” he said.
“The stock-to-flow ratio is increasing substantially as a result of the halving, so that is good for the longer-term price of Bitcoin,” Yocom-Piatt added.
Bitcoin’s stock-to-flow model, a product of Twitter crypto analyst PlanB, compares Bitcoin’s supply with its value, taking halvings into consideration. The analyst recently published an updated stock-to-flow chart for Bitcoin, including gold and silver in the mix.