Bitcoin (BTC) is having its 3rd-all-time month in history, says the creator of a forecasting model that calls for a $100,000 price in 2022.

In a tweet on Feb. fourteen, PlanB, the analyst behind the stock-to-menstruation model, said many were ignoring only how successful February has been for Bitcoin.

February 2022 in peak 3 BTC price months

"Few people realize we are currently in the third best #bitcoin month ever," he summarized.

Attention this year has mainly focused on Bitcoin'south January gains. Year to engagement, BTC/USD has shot upwards over forty%.

Nonetheless, at $10,240, Bitcoin would have its third strongest month on record if information technology were to close at similar levels in two weeks' time.

Equally PlanB noted, just Dec 2022 and June 2022 saw higher monthly closes, at around $13,880 and $x,760 respectively.

Bitcoin price six-year monthly chart

Bitcoin toll six-twelvemonth monthly chart. Source: TradingView

19% too optimistic?

Traders appeared unprepared for the extent of returns in 2022, while technical indicators succeeded at forecasting fresh volatility during local lows in December.

According to stock-to-flow, BTC/USD should trade at an average of $8,600 until May'southward block reward halving — 19% lower than at present.

Thereafter, the model calls for rapid upward momentum, topping out somewhere towards the end of adjacent year. Between then and effectually 2024, Bitcoin'due south average toll should be $100,000.

The center-opening calculations revolve effectually Bitcoin's condition as "difficult" money — the ratio of new Bitcoins compared to the existing supply is both low and impossible to manipulate. This leads to the frequent description of the cryptocurrency as existence "digital gilded."

By contrast, fiat currency has an infinitely manipulable supply and loses its value consistently thank you to its lack of bankroll in gold or another "hard" resource.