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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ANTHONY POMPLIANO – XRP And Ripple New Outlook | Brad Garlinghouse Interview
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Bitcoin bull Anthony Pompliano shares his thoughts on the future of XRP, Ripple, and Bitcoin in his latest interview with Ripple CEO Brad Garlinghouse.
At the end of this exclusive 90-minute interview, Anthony Pompliano says he thinks there are a couple of likely outcomes for the future of Fintech.
For starters, Pompliano says Ripple’s mission to help banks become more efficient makes a lot of sense.
“I think I’m actually on the podcast, on the record, saying it’s important to separate out the software company from XRP. I actually think that having software that makes banks run better – there’s a big business to be built there. We’ve actually invested in a bunch of businesses that are trying to disrupt software that is currently in banks or helping banks be more efficient. That all makes a lot of sense to me.”
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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.
News Resources From Today’s Show:
Bitcoin Bull Anthony Pompliano Reveals New Outlook on Ripple and XRP
https://www.stitcher.com/podcast/blockworks-group/off-the-chain/e/64470239
https://www.ccn.com/bitcoin-bull-anthony-pompliano-roasted-twitter/
Bitcoin continues marching forward.Block after block after block.Completely immune to the manipulation of economies or political instability of nations.Bitcoin is doing exactly what it was designed to do.
What a beautiful thing to witness.
— Pomp 🌪 (@APompliano) October 9, 2019
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Bitcoin Prepares to Rally to ,000 as BTC Price Forms Historically Bullish Pattern
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Bitcoin Readies for Next Leg Higher
Bitcoin (BTC) seemingly moves without rhyme or reason, but the cryptocurrency, just like any other asset, has patterns, has rhythms, that may lend insight into future price trends.
Mohit Sorout — a partner at crypto hedge fund Bitazu Capital — shared once such pattern when he published the chart below, indicating that Bitcoin “loves to paint” this price action.
According to Sorout, Bitcoin followed this exact schematic twice last year, once prior to rallying from $5,000 to $7,000, and another time before rallying from $8,000 to the $14,000 yearly highs.
Considering Bitcoin’s price action over the past few days matches the left side of the schematic perfectly, a near-term rally towards ~$11,500 has been made that much more likely, Sorout’s chart indicated.
Sorout’s schematic isn’t the only sign suggesting that Bitcoin will soon make a run past $10,000 to new all-time highs.
The same trader that predicted Bitcoin would bottom at $3,200 six months before it did argued this week that BTC’s chart implies an imminent upswing towards the $12,000 region.
In reference to the chart below, the analyst remarked that “Bitcoin [recently] smashed past” a key technical resistance while the cryptocurrency has held crucial technical levels.
This led him to the conclusion that a move towards $11,500 in July is possible.
More recently, he added that the historical downtrend from Bitcoin’s 2019 high of $14,000 was just broken just days ago.
Bitcoin holding key technical levels while crossing the downtrend indicates that BTC’s price action over the past few days constitutes consolidation above a level of resistance — a sign deemed bullish by the trader.
Bitcoin could also be buoyed by positive fundamental events, such as billionaire hedge fund manager Paul Tudor Jones’ entrance into the cryptocurrency space.
The Wall Street veteran revealed this week that he is investing around $100 million worth of his personal wealth in Bitcoin.
The investor attributed to his newfound belief in the benchmark cryptocurrency to central banks, which are not printing more money than ever before to save the flagging economy.
In other trending Bitcoin News today:
Hedge Fund Manager Predicts Bitcoin’s Post-Halving Trajectory
Hedge fund manager Matt D’Souza thinks patience is the key for Bitcoin holders looking to capitalize on the halving. D’Souza, who’s also the co-founder and CEO of the crypto mining operation Blockware Solutions, says it’s not the time to day trade.
“In 2016, Bitcoin rallied ~67% into Halving. It corrected 33% & bottomed within 3 weeks only to begin a 17-Month Bull Market. In 2020, we didn’t rally going into Halving as we recovered losses from a Global Market Melt Down. The Fundamentals for Bitcoin have never been better. Halvings are typically Buy the News, Sell the Rumor Events.
In 2020, I expect a shallower sell-off than 2016 (we already corrected 20%) & only a 1.5-3 week duration max. Now is the time to be patient & Hold – NOT day trade. The big money is in the sitting & capturing the Cycle.”
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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:
I don’t understand bitcoin. Please explain it to me.
— J.K. Rowling (@jk_rowling) May 15, 2020
The decoupling is underway:•Stocks selling off and back below where they started May
•BTC bounce continues with slow & steady rise https://t.co/FUYbF8k4h3
— Luke Martin (@VentureCoinist) May 13, 2020
4) The Supply Side Economics has improved w/ the Halving & Demand Side is robust due to the exceptional fundamentals: $SQ‘s Cash App had a record quarter in BTC Sales – signaling retail participation (H/T @IgNoffs)
Paul Tudor Jones is a strong signal of what’s to come from funds— Matt D’Souza, CPA (@mjdsouza2) May 13, 2020
the rise from 3-14k was clearly an impulsive move.
sure, you could wait for the downtrend from 20k to be broken but you will simply just be jumping in later
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) May 15, 2020
The Paul Tudor Jones letter is the single most bullish thing ever written about bitcoin, and it came from Tudor himself. I see it as a game changer. Think many macro investors will follow. Mandate changes and onboarding take time. PTJ will be on CNBC this week.
— Alex (@classicmacro) May 11, 2020
Hedge Fund Manager Predicts Bitcoin’s Post-Halving Trajectory
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BITCOIN (BTC) BULL SAYS THIS NEW TREND WILL IGNITE A MASSIVE 10,000% PRICE SURGE IN CRYPTO ASSETS!!
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Bitcoin (BTC) bull and crypto influencer Lark Davis is unveiling the next big thing in crypto that he believes has the potential to ignite a massive surge of 100x or about 10,000%.
Davis says the crypto market will continue to offer new and profitable opportunities as it evolves and expands beyond the red-hot decentralized finance (DeFi) sector.
“So NFTs (non-fungible tokens) is one such area that is getting a lot of attention right now and could be a big growth area, and it’s certainly an area that we, as investors, maybe want to be paying attention to.”
According to the crypto researcher, NFTs are unique tokens that represent ownership in a particular asset.
“A fungible item is one that can be exchanged for any similar item. For example, a dollar bill is fungible because it can be exchanged for any other dollar and maintain the same value.
However, something like a ticket is non-fungible because even though we could, for example, trade our ticket for someone else’s ticket, well it’s not going to be exactly the same, is it?
Maybe that other ticket’s for a different film, or it’s the same film but at a different time… It’s not equal, is the point.
Each ticket gives you access to a unique set of experience… If we move this idea into the blockchain setting, an NFT is thus a one-of-a-kind token, a certificate of digital authenticity verifiable on chain.”
Lark explains that NFTs offer a wide array of use cases for investors, including ownership in digital art, in-game items such as virtual lands, and skins as well as collectible items such as card decks and virtual pets.
The crypto researcher also highlights that NFTs can extend their reach beyond the realms of art and gaming.
Lark sees non-fungible tokens being used in royalties, insurance, and many other enterprise solutions including tokenizing invoices in order to take out a loan.
While investors who want a position in the emerging space can simply buy NFTs, Lark emphasizes one particular opportunity that can deliver worthwhile gains.
“Perhaps the most financially lucrative use case for NFTs is going to be plugging into DeFi. Maker DAO is already working on bringing music royalties and shipping invoices into their platform…
One that I’m keeping a close eye on is called Persistence. Now, this is a new player coming to Cosmos which will be focused on bringing in enterprises into both the NFT and, of course, into the blockchain world, looking at DeFi and how we can bring those NFTs into DeFi. So this is definitely one that I’m keeping an eye on…”
In other trending Bitcoin News today:
Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”
Ethereum’s DeFi space has fallen off dramatically over recent weeks due to weakness in the markets.
Top coins pertaining to the space have dropped by over 30-40% from their recent all-time highs, resulting in market carnage.
Not to mention, some crypto assets in the space have lost even more than 40%, plunging as capital floods into safer bets such as Bitcoin.
There are still many prominent supporters of DeFi, though.
For one, the Winklevoss Twins, the Bitcoin billionaires behind the Gemini exchange, recently threw their weight behind DeFi in a series of messages.
“DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.” – Cameron Winklevoss
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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:
DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.
— Cameron Winklevoss (@cameron) September 22, 2020
Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”
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