Lots of crypto investors are freaking out due to the massive fluctuations that Bitcoin has been seeing recently.

What they don’t understand is the fact that the massive price pump that led to an ATH of over $64k involved artificial growth and this is the reason for which weak hands backed off at the very first sign of danger.

PlanB’s model is right on track

PlanB shared a really relevant tweet and you can check it out below.

Few months ago people said that S2F model was invalidated, broken, because “all models are broken .. to the upside”. Now people think S2F is invalidated, broken, and bitcoin is dead, because some Elon/banning/hacking FUD. IMO it is normal deviation, like 2019 bottom or covid 2020 https://t.co/tjJnMqaueg pic.twitter.com/Z7DFmoi4ae

— PlanB (@100trillionUSD) June 8, 2021

When someone said: “The blue range is so vague, the price could fall to 20k and you would still not breach the lower end. I think its about time we accept that satoshi has gotten super rich and rest are bagholders!” PlanB responded with:

“The blue range is not vague, it is wide: roughly model value divided by two and multiplied by two. So with model value $66K, upper bound is ~$132K and lower bound $33K.”

He also addressed a linear regression model.

Well it is a linear regression model and all parameters and stats are in the paper, so you can decide or verify that yourself. IMO regression models can withstand a couple of outliers (like it did during covid 2020, or the bottom of the bear in 2019), but not a couple of months.

— PlanB (@100trillionUSD) June 8, 2021

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $33,010.38.

While the crypto space struggles during these FUD times in which weak hands are shaking, important people are accumulating Bitcoin.

For instance, it’s been just revealed that Tim Wu who is an antitrust expert at the White House is a BTC millionaire, says a personal financial disclosure.