Are you ready for a Bitcoin Black Friday deal that no one saw coming? The crypto world is buzzing with speculation as the famed “Plan B” November target of $98,000 for Bitcoin may be in jeopardy, leaving many to wonder if this is a crash or an unexpected floor model sale.
Bitcoin enthusiasts have been eagerly anticipating the achievement of the ambitious $98K target set by the popular Stock-to-Flow (S2F) model, also known as “Plan B.” This model, which factors in the scarcity of Bitcoin by analyzing its production and circulating supply, has been remarkably accurate in predicting the digital currency’s price movements in the past. However, the recent market downturn has cast doubt on whether Bitcoin will reach the projected target this November.
The crypto market, known for its volatility, has been subject to various external factors, including regulatory developments, macroeconomic trends, and market sentiment. As Bitcoin experiences a sudden dip in value, some investors are viewing this as a potential Black Friday bargain, while others are concerned that Plan B’s $98,000 target might turn out to be an unattainable goal.
It’s important to note that the nature of the crypto market is unpredictable, and sudden price fluctuations are not uncommon. While some experts argue that the recent dip in Bitcoin’s value is a natural correction after a prolonged bullish trend, others question whether there are fundamental issues at play.
As the crypto community speculates on the fate of Bitcoin’s November target, it’s crucial for investors to stay informed and approach the market with caution. Market dynamics can change rapidly, and understanding the underlying factors influencing Bitcoin’s price is essential for making informed decisions.
Whether this turns out to be a Black Friday deal for savvy investors or a missed opportunity for Plan B’s bold prediction, one thing is for certain: the crypto market will continue to surprise, challenge, and captivate its participants. As the month unfolds, all eyes will be on Bitcoin, waiting to see if it will defy the odds and reach new heights or if Plan B’s $98,000 target will remain an elusive goal.
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320: BITCOIN PRICE WILL HIT 0,000 SAYS CRYPTO ANALYST!! K BTC TARGET ON TRACK BY END OF 2020!!
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The pseudonymous analyst who goes by the name Dave the Wave predicts the Bitcoin price will hit $500,000 – eventually.
Dave, a technical trader who correctly predicted the BTC collapse from $11,600 to $6,400 last year, is reacting to Tyler and Cameron Winklevoss’ recent Bitcoin analysis.
The twin brothers and co-founders of crypto exchange Gemini say Bitcoin is undervalued as long as it trades below $500,000, citing the likelihood of hyperinflation in the US that could drive Bitcoin as a safe-haven asset.
“Good to see a reasonable price projected here by the Winklevoss brothers.”
In response, Dave shared his analysis of Bitcoin’s long-term trajectory, which tracks the cryptocurrency’s past price movements and increasingly long cycles.
His chart shows Bitcoin could reach $500,000 sometime around 2029.
“When peaks are ‘stepped’, they meet on the logarithmic growth curve. With each subsequent cycle – from base to peak – an extra year is added.”
The trader, who refers to himself as a “BTC Centrist,” also recently released a projection predicting Bitcoin would hit $100,000 sometime in early 2023.
That’s a slightly more conservative projection than the one recently released by PlanB, the controversial analyst who burst onto the scene last year after being the first to apply the stock-to-flow (S2F) ratio to Bitcoin.
PlanB’s latest S2F forecast predicts BTC will hit $100,000 even earlier, by August 2021.
The pseudonymous analyst’s newest cross-asset model, BTC S2F (S2FX), enables the valuation of different scarce assets like silver, gold and Bitcoin with a single formula.
It predicts Bitcoin will be worth $288,000 by 2024 year end.
In other trending Bitcoin News today:
BITCOIN COULD SURGE TOWARDS $20,000 BY END OF 2020: MARKET CYCLE ANALYSIS
A market cycle analysis by one crypto trader suggests that Bitcoin will hit $20,000 in the coming months, likely by the end of 2020.
The charts show that per historical market cycles, BTC is at the point of its ongoing bull market where it will begin its parabolic ascent towards its previous all-time high.
This market cycle forecast isn’t the only analysis showing that Bitcoin could hit $20,000 by the end of 2020.
This strong sentiment has been echoed by a number of market participants.
Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, commented in a research report on crypto:
“Bitcoin is mirroring the 2016 return to its previous peak. That was the last time supply was halved, and the third year after a significant peak. Our graphic depicts Bitcoin marking time for a third year following the parabolic 2017 rally… Fast forward four years and the second year after the almost 75% decline in 2018, Bitcoin will approach the record high of about $20,000 this year if it follows 2016’s trend.”
Arthur Hayes, CEO of BitMEX, has also mentioned this price target.
In an April blog post, he said that the Federal Reserve money printer and other macro trends will push the asset to its all-time high this year:
“As violent as the Q1 collapse in asset values was, we have almost 100 years of imbalances to unwind the ancien régime. My end of 2020 price target remains $20,000.”
He seemingly doubled down on this price target in a recent blog post.
“I, like many other pseudo intellectual keyboard warriors, have a massive upside price target for Bitcoin. I will get to that in the next digest. But Q4 is going to be a humdinger. The financial markets are going to whipsaw as politicians contort themselves to continue feeding at the trough.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
The road to 500K and price stability.When peaks are ‘stepped’, they meet on the logarithmic growth curve.
With each subsequent cycle – from base to peak- an extra year is added. pic.twitter.com/i4HN49UdGi
— dave the wave (@davthewave) January 5, 2019
BTC Monthly:Yesterday the month closed above the 50% Fib retracementSo what buddy!Well if past cycles are a sign and the pattern continues, the launch sequence has been initiated.1. Halving ✅2. Monthly close above 50% Fib Retracement ✅3. Bull market 🚀to 🌜
Let’s Go! pic.twitter.com/qlLRZjphD8
— Nunya Bizniz (@Pladizow) September 1, 2020
I don’t normally like making definitive #bitcoin price predictions. That being said, this is the last time you’re going to see bitcoin below $12K…until it goes back above $12K.
— Cameron Winklevoss (@winklevoss) September 2, 2020
Bitcoin Could Surge Towards $20,000 by End of 2021: Market Cycle Analysis
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BUFFET’S MOVE OUT OF BANKS INTO GOLD MARKS THE START OF BITCOIN (BTC) TO 0K SAYS MAX KEISER!!
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Popular Bitcoin pioneer Max Keiser shared his latest BTC price prediction on Twitter…
“Buffett’s rotation out of banks into GOLD – marks the end of all-fiat money experiment started in 1971 – marks the start of 3rd leg of Gold’s bull run started in 2000 – marks the top in bond market – marks the beginning of $USD crash – marks start of BTC to $400,000.”
In other trending Bitcoin News today:
Bitcoin Price Will ‘Explode’ Says Trader if BTC Breaches $13,000
Bitcoin (BTC) will “explode” in price once it hits $13,000, one trader believes as Bitcoin futures trade at 6% above spot price.
In a tweet on Aug. 18, the derivatives trader JSterz highlighted “extreme” Bitcoin futures spreads as a sign that an intensely strong bullish advance may soon arrive.
Currently, Bitcoin futures contracts expiring in March 2021 are priced 6% higher than the BTC/USD spot price at around $12,280.
“It seems extreme to see BTC-Mar21 trading 6% above spot,” JSterz summarized.
“We have been at this level about four times since 2017. If BTC breaches 13k+ this thing is going to explode.”
Open interest for a basket of trading platforms hit new all-time highs on Monday, beating a previous record from mid-February, before March’s coronavirus-induced crash.
“Note the changes in market share of OI,” Ikigai fund manager Travis Kling commented, uploading an overview chart to Twitter.
“We’ve been talking about The Herd… coming for so long its become a meme. But without a doubt, this is actually The Herd and its wildly bullish.”
Institutional investment in Bitcoin remains a major topic of conversation among supporters this month, following a dramatic buy-in from multibillion-dollar MicroStrategy in late July.
Asset manager Grayscale has seen record investment in its various cryptocurrency funds, as Bitcoin outperforms gold as a fiat hedge.
On Monday, a sudden swing above $12,000 was assumed to be a red herring, but the higher levels have since held.
For John Bollinger, creator of the Bollinger Bands volatility indicator, there was now every reason to believe in the strength of the rally.
“I imagine that someone is complaining about the $BTCUSD rally. Not me, a picture perfect advance so far,” he tweeted at the time.
“Squeeze, confirmed break out, walk up the upper band, consol, support at middle band, mini-Squeeze, break to new highs. How much more could one ask for?!”
In other trending Bitcoin News today:
The New McAfee: Dave Portnoy Forgets About Bitcoin and Starts Shilling Low-Cap Altcoins To His 1.7M Followers
The poster child for legacy market day trading, Dave Portnoy, who recently met the Winklevoss Twins to discuss Bitcoin, is now well over it.
Apparently, his new passion lies within low-cap altcoins such as Orchid (OXT).
The cryptocurrency has a total market capitalization of less than $40 million.
Despite being relatively unknown in the space, Portnoy is supposedly investing in it.
Max Keiser tweeted,
“As predicted last week ADD victim Dave would forget about BTC within minutes and immediately become a shitcoiner. John McAfee came very close to being jailed for this ‘coin of the day’ scam. Might still be.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Buffett’s rotation out of banks into $GOLD – marks the end of all-fiat money experiment started in 1971 – marks the start of 3rd leg of Gold’s bull run started in 2000– marks the top in bond market
– marks the beginning of $USD crash
– marks start of #BTC to $400,000
— Max Keiser (@maxkeiser) August 17, 2020
https://twitter.com/JSterz/status/1295415254193766400/
https://cointelegraph.com/news/bitcoin-price-will-explode-says-trader-if-btc-breaches-13-000
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BITCOIN COULD SHATTER 4K BY 2024, SAYS PLANB!! MAX KEISER REAFFIRMS 0K BTC PRICE PREDICTION!!
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Crypto analyst PlanB says the Bitcoin price could eclipse the prediction of his controversial stock-to-flow model (S2F) and meteorically rise to a BTC price of $864,000 in four years.
In an interview with cryptocurrency podcaster Peter McCormack, the quantitative analyst says he actually made a conservative bet when he predicted that Bitcoin will hit $288,000.
“I’m on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I don’t mean the time-series model.
So we’re not looking at Bitcoin only. We’re looking at gold, silver, diamonds, real estate, all that stuff. It’s $288,000. That’s an average value.
It could overshoot, like three times, like it did the last phases. I don’t want to mention the number. I try to be conservative all the time. But let’s say a 2x or a 3x from that $288,000, and then it crashes again, of course.”
PlanB also highlights the significance of getting a publicly-listed company to purchase hundreds of millions of dollars worth of BTC as a hedge against inflation.
“I noticed a lot of people didn’t see the importance of what MicroStrategy did but because it’s a listed company, it means that people can put Bitcoin or well [get] Bitcoin exposure in their pension funds.
They could just call their broker and, they can’t say ‘Well, get me some Bitcoin in my pension fund.’ But they can say, ‘Get me these and these and these companies. I want to have those in my pension scheme.’ In that way, you could see MicroStrategy as an ETF.”
Meanwhile, the crypto analyst remains confident in his S2F model and stresses the fact that it is following the script so far.
PlanB also notes that the king crypto is starting to seriously pique the interest of big-money players.
“We now are seeing pull from clients, from people that go to Fidelity and all the big players and ask for Bitcoin in their pension fund.”
But, the widely-followed analyst emphasizes that the S2F model is not infallible.
“The model can fail. It’s a model right. It’s a theory. It’s more to describe something and it’s quantitative so that helps. But it is a model. It can fail. Bitcoin will not fail. I don’t believe that.”
As for the Bitcoin’s current correction, PlanB says that the pullback is meant to scare new investors.
“Small Bitcoin test to shake out weak hands that entered May-Aug. If you can’t handle this, get out now. If you can, welcome to the club! Things to watch –will this be the first dip that stays above $10,000 – will we see a fast V-shape recovery next days.”
In other trending Bitcoin News today:
Max Keiser Reaffirms His $400K Bitcoin Price Prediction
In a recent interview with Cointelegrpah, Max Keiser, host of the Keiser Report reaffirms his Bitcoin $400K prediction while ETH, BSV, BCH, and DeFi scams go to Zero.
Max sees the Bitcoin price climbing to $28,000 in the short term before seeing any major pullback and goes on to share that his $100,000 Bitcoin price prediction he made back in 2011 is still currently in play.
He recently increased his $100,000 BTC price prediction to $400,000 because he’s completely confident in that Bitcoin will compete with gold.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Bitcoin Falls 12% But a Reuters Poll Indicates Massive Rally Ahead
Bitcoin Could Shatter $864,000 by 2024, According to Crypto Analyst PlanB
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