BITCOIN $178K BULL CASE SCENARIO TARGET NOW IN PLAY!!!!!!!!!!!

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The creator of the stock-to-flow (S2F) Bitcoin (BTC) price model says that the upcoming block reward Bitcoin halving will decide if it lives or dies.

In a series of tweets on April 16, PlanB said that he is sticking by the Bitcoin price increasing by “an order of magnitude” in the two years after the May halving.

“IMO bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects”

Stock-to-flow measures the issuance of new Bitcoins each block against Bitcoin’s existing supply, a method which has proven highly accurate in charting price performance. 

According to the model’s latest incarnation, BTC/USD should hit $30,000 by the end of 2020. 

Continuing, PlanB responded to queries regarding Bitcoin’s correlation to traditional markets.

A key concern among many traders is that a repeat of March could still occur, BTC/USD shedding 60% in a day as stocks crashed.

Highlighting the Dow Jones, PlanB argued that current correlation was the result of the broader coronavirus crisis, and was not a permanent feature for Bitcoin:

“During crisis everything is correlated. What’s next is what’s interesting. They will not be correlated forever (in my opinion).”

Promising to throw out the stock-to-flow model altogether if it fails to deliver as planned, he added that he nonetheless was not nervous about such a scenario occurring. 

Recently, some well-known cryptocurrency figures have criticized the concept, arguing it is simply too optimistic and has created a “cult” which reinforces its prognosis.

As Cointelegraph reported, they include Ethereum co-founder Vitalik Buterin and a Bitcoin whale known as J0E007.

“To be clear: I expect S2F-price relationship to hold,” PlanB confirmed.

Here’s Why Bitcoin Rallying 15% to $8,000 Is Just a Matter of Time

Ever since the $3,700 bottom, Bitcoin has mounted an impressive comeback, rallying as high as $7,500 last week as global markets have also seen a similar recovery to pre-crash levels.

But the rally might not be done yet. Crypto trader LightCrypto, or just Light, recently remarked that it “feels like $8,000 is at hand,” referencing his sentiment that the cryptocurrency could soon rally just under 15% from current levels to $8,000.

As to why this is the case, he remarked that with the potential of new buyers “absorbing profit-taking [by longs] and miner selling,” there’s a good chance $7,000 will be “accepted,” which could result in another strong leg to the upside.

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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:

IMO #bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects pic.twitter.com/kiTdN0n3Lu

— PlanB (@100trillionUSD) April 16, 2020

Acceptance of this price level comes from new buyers absorbing profit-taking and miner selling. After 1 month of consolidation, it seems that tension will be resolved shortly, with enough kindling built up for a strong leg.

Feels like $8,000 is at hand. pic.twitter.com/xHCAIgtVU1

— light (@LightCrypto) April 16, 2020

Here’s Why Bitcoin Rallying 15% to $8,000 Is Just a Matter of Time

https://cointelegraph.com/news/bitcoin-halving-will-be-make-or-break-for-stock-to-flow-model-planb

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A closely-followed crypto trader is predicting giant rallies for Bitcoin and Ethereum before the turn of the new year, but there’s a catch. In a series of tweets, the pseudonymous trader and analyst known as Kaleo lays out gargantuan predictions for BTC and ETH in the coming months.

Among other things, Kaleo predicts that before 2022 rolls around, Bitcoin shatters $100,000 and Ethereum breaks through $10,000, all while altcoins rally hard.

“My predictions for the second half of 2021:

– $BTC enters 6 figure price discovery

– $ETH breaks above $10K

– We see one more major alt season

– More institutional / government adoption 

– More institutional / government FUD

– Cryptunez gets a girlfriend

– Bears remain bearish”

In other trending Bitcoin News today: Here’s When the Altseason Rocket Takes Off, According to Crypto Trader Tyler Swope! Even though Bitcoin can’t seem to recover the $40,000 level and Ethereum is toying with dropping down to $2,000 again, Swope tells his 253,000 subscribers that there will be another altseason, and it will come sooner than some may think.

“There will be more than a few other altseasons coming this year, and a big one I project happening begins in July – around the middle of it. There are already signs the market wants this to happen.”

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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:

My predictions for the second half of 2021:

– $BTC enters 6 figure price discovery

– $ETH breaks above $10K– We see one more major alt season– More institutional / government adoption – More institutional / government FUD– Cryptunez gets a girlfriend

– Bears remain bearish

— K A L E O (@CryptoKaleo) June 17, 2021

https://cointelegraph.com/news/bitcoin-price-dips-below-34k-as-grayscale-starts-giant-btc-unlocking

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Crypto analyst and influencer Alex Saunders says he believes Bitcoin is heading toward the $1 million mark, but the journey will take a while.

In a new interview with Stansberry Research, Saunders says BTC is on track to shatter $100,000 in the next five years.

After that, he believes Bitcoin will set its sights on $1 million, and the outcome will depend on how governments decide to deal with the the leading cryptocurrency.

“I honestly think now, if you look at the market cap and you look at the trillions of dollars that are being printed by the month these days, I definitely think we’re going to hit $100,000 in the next five years.

And then it becomes about how governments and central banks react. Are they really going to go hard and try and shut this down or are they going to have to leave it there as a sort of neutral open competitor that’s going to make them more fiscally and financially responsible. 

Depending on how that plays out, I think we can get to $1 million in the next 10 or 20 years simply because it is going to grow to compete with gold and forex and just capture anything that’s previously been a store of value. Why wouldn’t you now park that in Bitcoin?”

Saunders says he doesn’t see BTC as a tool to get rich quick, and notes that people often invest in assets too late, after their parabolic rallies are well under way.

As for the altcoin market outside of Bitcoin, Saunders predicts the vast majority of crypto assets will fail, but there are a handful of promising protocols that will survive.

“We’re very much focused on, out of these 10,000 different coins, 99% of them are going to fail just like the dot-com bubble. But we very much think there’s a handful, a few dozen and those are the ones that we’ve invested in, that we believe are promising…

In some ways, [altcoin detractors are] right in that Bitcoin is the king of the currencies and everything else in that realm is a distraction. But these days, it’s kind of expanded out to be a digital asset class, and [rejecting altcoins is] kind of like saying when the internet was invented that there’s only going to be one internet company or one internet stock.

So I definitely think we’re seeing a number of companies that are disrupting a number of industries in the field that are catching on already. Ernst & Young are using Ethereum (ETH). [So is] Microsoft… The biggest companies in the world are using protocols like Ethereum, so they are gaining traction.”

In other trending Bitcoin News today:

“NEXT CYCLE ALL-TIME HIGH FOR ETHEREUM $10K-$20K”

Ether (ETH) returned to $500 for the first time in more than two years on Nov. 20 as altcoins slowly staged a comeback from poor performance.

Despite being capped at roughly 6% daily gains at press time, Ether’s achievement delighted traders, who noted that overall in 2020, the largest altcoin has outperformed even Bitcoin (BTC).

Year-to-date returns stand at 284% for Ether and 155% for Bitcoin.

Versus the pit of its price lows in mid March, just after the coronavirus-induced cross-asset crash, Bitcoin was still the strongest player. At the time, ETH/USD traded at just $117, making Friday’s levels an increase of 327%, while BTC/USD gained 411% from $3,600 to $18,420.

Earlier, Cointelegraph Markets analyst Michaël van de Poppe argued that a new “altseason” would need to wait, but that a realistic top for Ether’s next bull run could be as high as $20,000.

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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:

Next cycle ATH for $ETH probably between $10,000-20,000.

— Michaël van de Poppe (@CryptoMichNL) November 18, 2020

https://dailyhodl.com/2020/11/17/crypto-strategist-predicts-bitcoin-will-reach-1-million-if-governments-dont-interfere-heres-how-long-it-could-take/

https://cointelegraph.com/news/ethereum-hits-500-for-the-first-time-since-june-2018-outperforming-bitcoin-ytd

https://cointelegraph.com/news/rapper-logic-invests-6m-in-bitcoin-as-latest-celebrity-to-catch-crypto-bug

https://cointelegraph.com/news/corporate-bitcoin-frenzy-companies-now-hold-15-3-billion-in-btc