The most followed crypto Twitter account ‘PlanB’ (@100trillionUSD) tweeted he held Bitcoin all the way down from the $69,000 top of Nov 2021 – not selling a single sat (Satoshi) because he thought Bitcoin would go to $100,000 shortly after.
Plan B has 1.8 million followers and is criticized by some for posting ‘bullish hopium’ to engagement farm and pick up more of a following. This tweet reads like an apology for causing others to buy the top.
Most crypto Twitter accounts lose followers when they are bearish, sell temporarily, or open short positions. The average retail investor just passively holds their investment – the meme of ‘hodling’ in cryptocurrency circles – rather than day trading or copytrading, and doesn’t like to hear bad news, even from traders that are still bullish on Bitcoin in the long term.
Twitter bulls that only put out six and seven figure Bitcoin price predictions ‘by the end of the year’ can quickly grow a large following, while being anonymous and unaccountable.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
Plan B Twitter Bitcoin Predictions
Yahoo Finance even ran a story ‘Bitcoin To Cross $100K by 2023 – Says PlanB’, praising the crypto influencer’s Bitcoin indicator – his Stock-to-Flow model (S2F).
In February, Plan B tweeted that ‘both S2F and logarithmic regression point to $100k in 2023’. At the time the Bitcoin price was $42,000.
Plan B is still active on Twitter and very bullish on Bitcoin. Since that June 14th tweet Bitcoin dropped further, hitting $17,600 on June 18th (a 75% drop from its all time high) before bouncing back over $20,000 at the time of writing.
He (or possibly she, as some reply guys wondered from the picture) – didn’t hang up his hat and do something else for a week though. Plan B has been active on Twitter every day since.
Some similarly mega bullish Twitter accounts like ‘Parabolic Trav’ (@parabolictrav) have left Twitter for prolonged periods of time after criticism from more serious crypto traders. Plan B however is still around and posting his stock to flow model as of six hours ago.
Response to PlanB Twitter post
Bitcoin can still hit $100k over the long run, and Plan B still has his fans who appreciate the work he’s done in raising awareness of cryptocurrency. The market doesn’t go up in a straight line though – it likes to revisit previous areas of historical support, shake out weak hands, and explore a range before setting new highs – the last bear market lasted three years from 2018 – 2021.
Many of the crypto traders who criticize Plan B do see BTC reaching six figures, but around the time of the 2024 Bitcoin halving after a year long accumulation cycle.
View the Plan B Twitter post and the reactions here.
Vitalik Buterin vs PlanB Twitter
Update – founder of Ethereum Vitalik Buterin has also today criticized PlanB’s S2F model, posting that he thinks ‘financial models that give people a false sense of certainty and predestination that number-will-go-up are harmful and deserve all the mockery they get.’
Vitalik quote tweeted another Twitter user sassal.eth saying that the stock to flow model ‘is such an epic failure that PlanB should just delete his account. He won’t though because he sadly still has 1.8 million followers who eat up all of his hopium garbage on a daily basis.’
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