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It’s no secret that the best-known Bitcoin analysts are calling for a spectacular Q4 performance from BTC price action.
For PlanB, creator of the stock-to-flow model family, the “worst case scenario” for Bitcoin has come true two months running.
His floor estimates now call for $63,000 by the end of October – $98K by end of November – and a whopping $135,000 for the December close.
Zooming out, however, the picture remains even rosier for Bitcoin bulls, he says. In his latest stock-to-flow cross-asset (S2FX) update, PlanB showed price behavior being roughly 50% through its bull cycle, leaving the door open for rapid gains.
“My guess: this 2nd leg of the bull market will have at least 6 more months to go.”
In other trending Bitcoin News today: Brazil is introducing a bill that will make BTC legal tender.
Federal Deputy Aureo Ribeiro, said in an interview that Brazilians will soon be able to buy houses, cars and even McDonald’s with Bitcoin, after approval of its law, which will happen soon.
“We want to separate the wheat from the chaff, create regulations so that you can trade, know where you are buying, know who you are dealing with, and have this asset to buy a house, a car, go to McDonald’s to buy a hamburger, it will be a currency in the country as it happens in other countries”.
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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.
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