A New Bitcoin Price Prediction Model States That BTC Will Never See $39k

A new model by William Clemente states that Bitcoin would never hit $39k again—affirming permabulls' position.

The Illiquid Supply Floor chart combines PlanB's S2F and Glassnode's illiquid supply data to create a real-time price floor based on Bitcoin's scarcity. 

As Bitcoin prices increase in lockstep, quite literally defying gravity, the model reveals that BTC has an illiquidity floor at $39k--a solid support line. The analyst's new model points that this will be the lowest point BTC prices will ever retest as it charts higher, beyond $64k towards $100k in the months to come.

Presently, bulls are more confident of BTC's upside. For instance, more coins are in non-custodial wallets year-to-date. At the same time, cryptocurrency exchanges' reserves of BTC continue to dwindle. 

Meanwhile, boxing in expected demand from institutions, the crypto scene is confident of what lies ahead, convinced that BTC prices would track the new Illiquidity Supply Floor Chart, above $39k.

All the same, whether BTC would chart higher to $135k—or better this year remains to be seen. According to PlanB, the creator of S2F, the coin has three months to print six digits and more than double the H1 2021 price. 

His optimism is further cemented from a recent Bloomberg Intelligence report that BTC might print $100k by the end of the year.

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