QUANT ANALYST PLAN B PREDICTS BITCOIN HYPERBOLIC SCENARIO – HERE’S HIS Q1 BTC PRICE TARGET!!

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The average value of Bitcoin transactions has increased dramatically since July this year. 

The average BTC transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.

The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours.

This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017.

The $151,000 average value is 190 times more than Ethereum’s average transaction value of $793, suggesting a significantly greater institutional presence in the Bitcoin markets.

However, the number of daily Ethereum transactions increased by 30% amid the DeFi boom in August, reaching a 2-year high of 1.29 million on Aug 10.

Over the same period, Bitcoin transactions consistently hovered between 300k and 350k, suggesting the Ethereum ecosystem was the primary magnet for new crypto users.

The number of Bitcoin active addresses also showed no significant changes, fluctuating between 650k and 970K over the last 4 months.

Accumulation figures show that institutional investors are starting to take notice as large investment firms, like Grayscale and Microstrategy, increased their accumulation of large amounts of Bitcoin and other cryptocurrencies over the last few months.

By the end of September, Grayscale controlled at least 449,900 BTC or 2.4% of the current supply of Bitcoin, and Microstrategy owned 38,250 BTC.

Two weeks later, Jack Dorsey’s Square purchased 4,709 BTC (approximately $50 million) in Bitcoin.

In other trending Bitcoin News today:

“PayPal To Offer Crypto Payments Starting In 2021”

PayPal announced on Wednesday its entry into the cryptocurrency market, according to multiple reports.

PayPal customers will be able to use cryptocurrencies to shop at any merchant in its large network starting from early 2021, the company said.

The payments will be settled through fiat currencies, similar to many existing crypto merchant solutions like BitPay.

This means that the merchants will be receiving fiat, as PayPal will take care of the conversion. 

The coins initially supported will include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the company said.

The payments giant partnered with Paxos to deliver the service, and it obtained a conditional cryptocurrency license from the New York State Department of Financial Services, commonly known as the BitLicense.

In addition to cryptocurrency payments, PayPal users will also be able to purchase crypto directly through the app.

PayPal will thus feature a cryptocurrency wallet, letting users buy, sell and hold crypto via the PayPal apps.

PayPal is one of the largest global payment providers, with 346 million active accounts and $222 billion in volume processed in Q2 2020.

It was one of the initial founding members of the Libra association, though it subsequently dropped out after regulatory pressure mounted for the project.

Rumors of a planned crypto integration surfaced earlier this year.

The company is nevertheless often criticized in crypto circles due to perceived unfair practices and the amount of control it has within its own network.

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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:

Finally!PayPal joins the bitcoin space race.+ 346 million users+ 26 million merchants + 20th largest “bank” by deposits

Between them, Square, and Grayscale, it’s safe to assume that all remaining BTC will be hoovered up by public companies. https://t.co/d3oEk0LLgv

— Ryan Selkis (@twobitidiot) October 21, 2020

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idUSL1N2HB14U

https://cointelegraph.com/news/bitcoin-average-transaction-value-increases-500-since-july

https://cointelegraph.com/news/paypal-to-offer-crypto-payments-starting-in-2021

https://cointelegraph.com/news/bitcoin-price-rally-to-12k-is-meaningless-until-bulls-flip-it-to-support

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

$10,500 has become a level of utmost importance to the Bitcoin (BTC) market over the past year.

It marked the highs of two crucial rallies:

1) the Xi Pump that was seen in October of 2019,

2) the rally to $10,500 earlier this year.

Analysts say that if the cryptocurrency can decisively claim that level as support by closing above it on the daily, a larger move to follow.

“If BTC can re-claim these highs and close above on the daily I think we can start targeting 13k-14k.

If not we may be looking at a liquidity run and I’d start looking to next get long ideally at the yearly open, 7k-7.5k,” one analyst said.

The position was echoed by another analyst, Kelvin “Spartan Black ” Koh of The Spartan Group, a cryptocurrency investment firm and advisory.

The former Goldman Sachs partner explained in his own analysis on the importance of $10,500:

“We have been in this $10K holding pattern for almost a month but it is clear the market wants to creep higher. I am speculating we will blow through $10.5K within the next 2-3 weeks. When we do, the move to $13-14K will be swift.”

Fortunately, the cryptocurrency is currently positioning to surmount $10,500 in the coming days.

Analysts are noting that the fundamentals of the Bitcoin market are improving, which is supportive of higher prices.

As reported by Bitcoinist previously, technology analyst Kevin Rooke found that over the past week alone, Grayscale Investments purchased 9,503 BTC for its clients while miners produced 6,863 coins.

This is bullish because it shows that a single entity is consuming more Bitocin than miners produce, skewing the supply-demand dynamic in favor of bulls.

In other trending Bitcoin News today:

Bitcoin (BTC) Has Entered Crucial Zone That Preceded 8,066% Bull Run, According to Cryptocurrency Strategist PlanB

The most controversial analyst in crypto says Bitcoin has officially entered a zone that preceded each and every one of its previous parabolic bull runs.

According to the pseudonymous analyst PlanB, BTC is now in the early days of the “fear zone” phase.

The last time this happened in June of 2015, Bitcoin was valued at about $246.

Over the next two-and-a-half years, BTC gradually entered its third epic rally that brought the crypto king to an all-time high of $20,089 on December 17th, 2017 – an 8,066% increase.

PlanB’s analysis is among the most bullish and contentious in all of crypto. The latest version of his stock-to-flow model suggests BTC will hit $288,000 by the end of 2024.

Stock-to-flow has long been used to plot the price movements of precious metals. But critics say the model, which outlines Bitcoin’s scarcity by dividing the total supply by the number of new coins created each year, holds no predictive power because the cryptocurrency’s supply schedule is already known far in advance.

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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:

For those who are wondering if $10.5K $BTC will ever be broken.Post Black Thursday, we went from $4K to $7K in a week.It then took about a month before we convincing broke $7K.

But the move from $7K to $10K took 2 weeks.

— SpartanBlack (@SpartanBlack_1) June 5, 2020

If $BTC can re-claim these highs and close above on the daily I think we can start targeting 13k-14k. If not we may be looking at a liquidity run and I’d start looking to next get long ideally at the yearly open, 7k-7.5k.

I’m leaning bullish. Fuck the immoral bitcoin bears. pic.twitter.com/yJ2w67Z0I3

— Caesar (@Thrillmex) June 5, 2020

Some say S2F(X) model must be wrong because #BTC price is determined solely by scarcity (supply) and demand does not play a role.

However Nobel prize winning Capital Asset Pricing Model (CAPM) determines asset returns solely based on risk (volatility, dd) .. no demand, no supply pic.twitter.com/2NU1xs3YCn

— PlanB 🔴 (@100trillionUSD) June 4, 2020

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Bitcoin bull and Wall Street veteran Max Keiser has issued a massive BTC price prediction, saying as game theory suggest, governments around the world will start putting Bitcoin on their balance sheet sending BTC parabolic to $1,000,000. 

The RT host of the Keiser Report shared the following:

“As long as governments control money, there could be no advances in money. Along comes bitcoin, it separates government from money. No government can touch btc, they’re completely divided & divorced.

And as I predicted, if you gave people hard money like bitcoin to transact without the interference of government it would be an economic global boom, a renaissance.

We can transact in unconfiscatable, uncensorable money when nobody can stop us because we’re protected by this encrypted shield called the bitcoin protocol that’s impenetrable & nobody can stop us.

Governments have flapped their gums a lot & suggested oh we are against it but none of them can stop it. Eventually one of these governments according to game theory is gonna say you know what, enough is enough we’re gonna start putting it on our balance sheet here.

And whatever country that might be & then every other country will do exactly the same thing and the price of course will go $500K, $600K, $1,000,000 a bitcoin and Max & Stacy will be once again 100%  right.”

In other trending Bitcoin News today:

A Bitcoin Price Dip For Ants? BTC Quickly Rebounds to a New High Above $57,800

The price of Bitcoin (BTC) dipped to as low as $53,905 on Binance overnight, recording a sudden 6% drop. But despite the minor correction, the price of Bitcoin quickly recovered thereafter, reaching a new all-time high above $57,800 on Feb. 21.

Although Bitcoin saw a steep drop within merely hours, analysts pinpointed that it fell to the exact bottom of a short-term trendline.

John Cho, the Director of Global Expansion at Ground X, noted that the drop was a liquidity fill at a lower price.

A liquidity fill simply means when an asset drops after stagnating to fill buy orders at the bottom of the range

A drop was expected because Bitcoin was consolidating with the futures funding rate at around 0.15%.

Across major futures exchanges, the Bitcoin futures funding rate was hovering between 0.1% to 0.2%, and it was particularly high for stablecoin pairs.

Bitcoin futures exchanges use a mechanism called funding to incentivize buyers or sellers based on market sentiment.

For example, when there are more buyers in the market, the funding rate turns positive. When that happens, buyers have to pay sellers a portion of their position every eight hours.

When the funding rate is high but the price of Bitcoin is consolidating, the risk of a big short-term drop increases.

The funding rate for altcoins, including Ether (ETH) and DeFi tokens, reset to around 0.05%. As such, altcoins saw a stronger bounce than BTC.

Misa Christanto, an analyst at Messari, said that in a bear market, everything is correlated. But Bitcoin, which is also considered a “reflation trade,” has been resilient. She wrote:

“US Treasury curve is steepening. Why should we care? Because in a bear market, everything is correlated. So far the headwinds have been on equity returns, on unprofitable tech names. Reflation trades like $BTC unaffected.”

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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:

“As long as governments control money, there could be no advances in money. Along comes #bitcoin, it separates government from money. No government can touch #btc, they’re completely divided & divorced.”-@MaxKeiser🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 20, 2021

“These banks will not compete. They will not introduce anything near a #Bitcoin. Just like there was only one Joan of Arc, there was only one Virgin Mary, there was only one Allah, there can be only one #BTC & it rules supreme.” – @MaxKeiser (Keiser Report 443, May 11, 2013) 🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 20, 2021

In percentage terms, Bitcoin growing from $57K to $1M is the same as going from $3,249 to $57K.

— Stack Hödler (@stackhodler) February 20, 2021

On-Chain Data: The Last Time This Happened, Bitcoin Rose Another 2x

https://cointelegraph.com/news/a-bitcoin-price-dip-for-ants-btc-quickly-rebounds-to-a-new-high-above-57k