đ° Cryptoâs Next $1 Trillion Coin: Blockchain investment firm Pantera Capital says Bitcoin looks like it will break the $100,000 level sooner than they originally forecasted. In a new letter to investors, CEO and co-chief investment officer Dan…
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STOCK-TO-FLOW CREATOR HAS âNO DOUBTâ BITCOIN WILL HIT 0K-8K âBEFOREâ DECEMBER 2021!!
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PlanB, the creator of the stock-to-flow (S2F) model, reiterated on Nov. 8 that the Bitcoin price is well on its way to hit $100,000.
The pseudonymous analyst expects the dominant cryptocurrency to achieve the $100,000 to $288,000 range by December 2021.
Bitcoin would have to increase by around 545% from the current price to surpass $100,000.
At that price point, the market capitalization of BTC would near $2 trillion, or roughly the same as Apple, the worldâs most valuable company.Â
The S2F model attempts to predict the long-term price trend of Bitcoin by evaluating its supply.
Namely, it takes into consideration its fixed supply and the block reward halving, which reduces the rate at which new BTC is produced or âmined.â
The theory behind S2F is that as the supply of Bitcoin decreases over time and inflation would continuously rise.
These two factors could theoretically amplify the uptrend of the top cryptocurrency.
Based on Bitcoinâs supply curve and the halving cycles, S2F puts the expected valuation of BTC at $5.5 trillion.
The model predicts Bitcoin to reach a multi-trillion-dollar valuation before 2024.
The model reads:
âS2FX model estimates a market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020â2024) of $5.5T. This translates into a BTC price (given 19M BTC in 2020â2024) of $288K.â
In a tweet, PlanB said he remains confident the S2F modelâs $100,000 price projection for Bitcoin would materialize.
2021 is particularly important for Bitcoin because it follows a highly anticipated block reward halving in May 2020.
Six months ago, Bitcoin experienced its third halving in history.
This decreased the number of BTC mined each day by half, which would cause the circulating supply to drop over time.
The analyst wrote:
âPeople ask if I still believe in my model. To be clear: I have no doubt whatsoever that bitcoin S2FX is correct and bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!â
So far, following the halving, Bitcoin has increased from $8,700 to $15,500, recording a 78.1% rally in six months.
On-chain analysts like Woobull.com creator Willy Woo say that the total supply of Bitcoin is lower than often thought.
While the total supply of Bitcoin is 21 million, there is a high number of BTC that is lost or dormant that can no longer be accessed.
Woo said:
âTotal supply of Bitcoin will not be 21m, itâll be around 17m as many coins died in the fight for being acknowledged as something valuable in the early days. This means 0.002 BTC per person on the planet.â
As such, PlanB expects Bitcoin to follow the S2F model as the available supply and the amount of new Bitcoin mined decreases over time.Â
In other trending Bitcoin News today:
âWHY THIS ANALYST THINKS BITCOIN HITS $17,000 IN THE NEXT WEEKâ
Analysts are optimistic that Bitcoin could resume its ascent, potentially towards $17,000 or even $18,000 as the trends of this market remain positive:
âI think thereâs a decent chance bitcoin breaches $17k and even into $18k in the next 10 days (next weekly candle). We are due for a decent mid timeframe blowoff and chill for a bit and wicking into the ATH cluster just feels so rightâŠ
The path to $18k or ATH wick seems the path of least resistance. Nobody wants to sell until then and everybody is buying dips. Easiest way to create market balance is to do it quickly then let the market chop around a bit.â
The aforementioned trader isnât the only one calling for Bitcoin to hit $17,000 in the near future.
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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:
People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG
â PlanB (@100trillionUSD) November 8, 2020
Why This Analyst Thinks Bitcoin Hits $17,000 in the Next Week
https://cointelegraph.com/news/s2f-creator-has-no-doubt-bitcoin-will-hit-100k-by-december-2021
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MAX KEISER SAYS BITCOIN WILL âGOBBLE UP ALL FIATâ AND RISE OVER 0K!! BTC PRICE PREDICTION!
âĄïž REPLAY: âThe Crypto Catch-Upâ â http://teeka.cryptonewsalerts.net
Bitcoin Pioneer Max Keiser, host of the Keiser Report went on record sharing, âBTC is the monetary black hole that will gobble up all fiat and rise to more than $100,000 doing itâ back in 2018.
In fact Max has been telling his audience to buy Bitcoin since 2011, back when the cryptocurrency was trading at just $1.
In regards to his most recent BTC price prediction, Keiser shared on Crypto Twitter:
â$20,000 will get sliced through easily â then a pop to $28,000.â
Breaking News: The Bitcoin Price Has Only Been Higher Than Now For 12 Days In BTC Historyâ
The Bitcoin (BTC) price, which is currently sitting at $16,320, has only been at this level or higher for 12 days in the coinâs entire 4,332-day history, representing just 0.28% of the cryptocurrencyâs life.
Crypto analytics platform Messari published data stating that the closing price had exceeded $16,320 only on 12 other days, 10 of which occurred from Dec. 7 to 20 in 2017, with the highest close occurring on Dec. 16 at $19,378.Â
Any investor who bought at the all-time high of $20,089 would still be down 18.35%. In contrast, investors who bought at this cycleâs low of $3,126 on Dec. 15, 2018, would be up 424%.
Of the other top 10 coins, only Chainlink (LINK) comes remotely close to Bitcoin, with the coin sitting above the current price of $12.70 for 2.7% of its life.
By contrast, the majority of altcoins are yet to enter proportionally rare price ranges. Etherâs (ETH) current price of $464 has been exceeded 201 days in the past, representing more than 10% of the entire 1,933 days since the Ethereum network went live.
XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB), Polkadot (DOT) and Cardanoâs ADA prices all vary between 9.7% and above 30%. BCH exceeds all other coins sitting above the current price of $258 for at least one-third of its life.
Bitcoinâs strong rise past $16,000 has also seen record volumes recently. With more than $5.5 billion in Bitcoin trading volume recorded on Nov. 5, only nine days have seen stronger volume in Bitcoinâs history.
Compared to this day in previous years, investors have seen profits of 88%, 2,275%, 4,326% and a staggering 5,833,991% for the years of 2019, 2016, 2013 and 2010, respectively.
In other words, investing $1 into Bitcoin on November 13, 2010, would have increased to $58,339 today.
In other trending Bitcoin News today:
âImpending CME Gap Close Could Propel Bitcoin Price To $18,000â
Within the last hour Bitcoin (BTC) price surged through the $16,200 level to secure a new 2020 high at $16,473.Â
The 6.62% move brings the top-ranked digital asset closer to closing a CME gap in the $16,465 to $16,570 zone and a growing number of analysts expect the price to break above the $17,200 level if the CME gap is closed.
Despite the excitement surrounding Bitcoinâs surge to a new multi-year high, Cointelegraph contributor Micheal van de Poppe pointed out that Bitcoin has rapidly ascended to new highs without establishing strong supports.
Van de Poppe said:
âMany levels beneath the current price are untested on the weekly timeframe. A healthy way to build up a new cycle is the backtesting of previous resistance levels as new areas of support.â
The analyst also said that the Crypto Fear and Greed Index has reached the âExtreme Greedâ level, which can be interpreted as a sell signal according to Van de Poppe.
Bitcoinâs impressive rally to $16,465 comes as the Dow and S&P 500 closed the day in the red with a 1.08% and 0.97% loss.
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Trezor: âș http://trezor.cryptonewsalerts.net
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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:
$20,000 will get sliced through easily â then a pop to $28,000#BTC
â Max Keiser (@maxkeiser) November 12, 2020
If the U.S. and China don’t significantly crack down on bitcoin, it’s going to $250,000+ this next cycle.
â Ryan Selkis (@twobitidiot) November 12, 2020
Max Keiser Interview: Bitcoin Will âGobble Up All Fiatâ and Rise Over $100K
https://cointelegraph.com/news/impending-cme-gap-close-could-propel-bitcoin-price-to-18-000
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