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Analyst: Using model predicting $100,000 Bitcoin to cause FOMO is “irresponsible”

Few in the Bitcoin industry have not heard of PlanB. The pseudonymous analyst, who works at a European institution managing a multi-billion-dollar balance sheet but moonlights as Bitcoin analyst, has garnered tens of thousands of followers and presumably millions of views of his articles and tweets.

The reason: he’s the creator of the stock-to-flow model, an econometrics model that suggests Bitcoin’s value is primarily derived from its level of scarcity, defined by the inverse of its inflation rate.
The model, which has been backtested to have an R squared value of 95 percent (extremely accurate), suggests Bitcoin will have a value of $55,000 to $100,000 after May’s block reward halving.

While PlanB’s model has become popular as many believe it is sound, some have started to push back.