Bitcoin analyst Plan B has accurately predicted the closing price of Bitcoin in August and September. He predicts that Bitcoin will close at $63,000 in October. But at the evening of October 31, 2021, the price of Bitcoin was still at $61,000.
In the early hours of this morning, Bitcoin closed in November, and the price of Bitcoin fell below $60,000. Plan B’s October forecast fell through.
But Plan B was not discouraged. On November 1st, it tweeted that Bitcoin closed at $61,000 in October. Estimated with a 3% error, the price of Bitcoin will reach 98,000 USD in November and 135,000 USD in December.
Aug $47K✅— PlanB (@100trillionUSD) November 1, 2021
Oct $61K new monthly close ATH!✅
Ok ok, 3% rounding error .. close enough for me
Next targets: Nov>$98K, Dec>$135K???? pic.twitter.com/7LSnQBYJ33
Plan B is so emboldened. On the one hand, it is the scarcity brought about by Bitcoin’s own monetary policy. On the other hand, it is a reflection of the reality of the loose monetary policies of central banks, especially the Federal Reserve.
Is the reason for Bitcoin’s rise due to inflation?
According to Bloomberg News, Peter Thiel, a top angel investor in Silicon Valley. Said that the rise in the price of Bitcoin indicates that the current economic system is facing real inflation.
Thiel pointed out that price increases are not temporary, and the Fed has not solved the inflation problem, nor has it realized its seriousness. He said: “I’m not sure if people should actively buy Bitcoin with a price of $60,000, but I can be sure that the high price of Bitcoin tells us that this is the moment of crisis.”
Thiel emphasized that the Fed is not even aware of this key issue and mistakenly believes that it can print money without causing inflation.
Thiel’s views coincide with those of JPMorgan Chase in a report last month. JPMorgan Chase analysts believe that it is not only the enthusiasm caused by the first Bitcoin futures ETF in the United States that is pushing the price of Bitcoin to record highs, but also inflation.