Of course bitcoin can still drop below realized price ($53k), like it did in every bear market bottom. But Oct $126k top was not the cycle top IMO. Based on stock-to-flow valuation, BTC could still go to $500k ($250k - $1m range) .. this cycle (2026-2028! Patience
Bitcoin may still drop to $53k but the author believes the cycle top is not yet in and BTC could reach $500k by 2026-2028 based on stock-to-flow valuation.
Of course bitcoin can still drop below realized price ($53k), like it did in every bear market bottom. But Oct $126k top was not the cycle top IMO. Based on stock-to-flow valuation, BTC could still go to $500k ($250k - $1m range) .. this cycle (2026-2028! Patience
Fair point, the ranges are indeed very large. But in March 2019 when I published S2F bitcoin was below 4k and everybody thought it would drop to 1k or even 0, so personally I didn't care about S2F 25k-100k range (50k average). Same now, btc is ~60k and the range 250k-1m .. all good to me, 250k, 1m,
$BTC could see a final flush to $40-50k but it matters less than you think Bitcoin is cheap now!!! Buying now around 200W MA is smart Buying if it goes lower is smart Just keep buying (I tell you this as a bear since October 2025 - see my pinned tweet)