As per the model and based on historical chart patterns, Bitcoin (BTC) is likely to hit $100K levels in the next few months. Bitcoin is all set for an escalated price surge of over 200% from the current levels.

Bitcoin (BTC) has been under downward pressure over the last week. The world’s largest cryptocurrency also slipped under $30,000, however, it has pulled-back quickly post that. At press time, Bitcoin (BTC) is trading at $33,098 with a market cap of $615 billion. Meanwhile, the forecasts of PlanB for Bitcoin are quite optimistic.Institutional players like MicroStrategy made the most of the dip by buying BTC during the recent correction. The business intelligence firm purchased an additional 314 Bitcoins worth $10 million. MicroStrategy has already invested over $1 billion in Bitcoin over the last year.

MicroStrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We now hold approximately 70,784 bitcoins.https://t.co/zMJSH29bmC

— Michael Saylor (@michael_saylor) January 22, 2021

Despite the recent correction, PlanB author of the popular stock-to-flow model is confident that Bitcoin (BTC) price can touch $100K in the next few months. The stock-to-flow (S2F) model makes Bitcoin price predictions based on its supply scarcity and upcoming halvings.As per the Stock-to-Flow model, “The predicted market value for bitcoin after May 2020 halving is $1trn, which translates in a bitcoin price of $55,000. That is quite spectacular. I guess time will tell and we will probably know one or two years after the halving, in 2020 or 2021”.

If history is any guidance and #bitcoin continues it’s current trajectory, BTC could be $100K somewhere between April and September pic.twitter.com/z30OjEikTU

— PlanB (@100trillionUSD) January 24, 2021

The Bitcoin (BTC) stock-to-flow model has been so far very much accurate despite speculations and criticism from some of the market players. Recently, Anthony Pompliano, the co-founder of Morgan Creek Digital Assets, has extended support to the model.

Stock to flow model is deadly accurate so far.

This is what a programmatic monetary policy looks like.

Predictable and transparent.

No one can change the rules unilaterally because they think they’re smarter than the free market. pic.twitter.com/Kps1AZ7lpD

— Pomp ? (@APompliano) January 21, 2021

Well, we know that $100K over just the next few months is quite an ambitious target for Bitcoin (BTC). However, if you see the above chart, how the BTC price has reacted post halving. The redo dots have been always followed by a rapid price surge and the model predicts that it can happen even now.On-Chain Bitcoin Indicators Suggest No More Selling Ahead amid New Predictions from PlanBSeveral on-chain indicators point that Bitcoin selling has cooled down for now and the only way ahead is northward. As per the on-chain analytics platform Glassnode, the SOPR (Spent Output Profit Ratio) has cooled down for the first time since October 2020.The SOPR value has reset once again to 1 meaning that average Bitcoin investors won’t profit much from selling at current levels.

And we have a touch down! A full on-chain SOPR reset.

Coins moving between investors per hour (24h MA) no longer carry profit on average.

To push SOPR lower, investors would have to be willing to sell at a loss.

Data source: @glassnode pic.twitter.com/gew0IzMUsu

— Willy Woo (@woonomic) January 23, 2021

However, in a recent update, JPMorgan strategists said that immediate Bitcoin (BTC) bounce-back to $40,000 levels is difficult as institutional participation has slowed down. As reported by Bloomberg, the analysts wrote:

“At the moment, the institutional flow impulse behind the Grayscale Bitcoin Trust is not strong enough for Bitcoin to break out above $40,000″. They added: the “risk is that momentum traders will continue to unwind Bitcoin futures positions. The near-term balance of risks is still skewed to the downside”.

It will be interesting to see how Bitcoin (BTC) moves from here.

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