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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CRYPTO ANALYST TONE VAYS SAYS 300% BITCOIN BREAKOUT TO K BTC LIKELY WITHIN SIX MONTHS!!
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Veteran crypto strategist Tone Vays says the big Bitcoin breakout has more gas left in the tank.
In a new video, Vays explains why he believes the bullish rally that pushed BTC above resistance of $12,000 is not yet over.
“That is exactly what I’m kind of foreshadowing going into the future. We still have this triangle right here and we can still pull back into this triangle, but I do think that right now, there is still enough FOMO (fear of missing out) to get us higher into that high $13,000 range.”
As Bitcoin draws near its next resistance level at $14,000, the crypto analyst predicts that market participants will start to take profits.
“That breather could be horizontal consolidation or that breather could be a pullback all the way back down to $12,000 or even as low as $11,500.”
Although Vays sees a correction on the horizon, he is long-term bullish on the world’s most dominant cryptocurrency.
“[The] monthly view is going to be great. We’re going to close as the second-highest month ever and we got a shot at closing at the highest month ever if we can close at $14,000. That would be the highest monthly close ever, which would also be absolutely great.”
Vays also highlights his current personal sentiments on BTC.
“I’m pretty damn bullish right now. I don’t know if that’s stupid or not but I’m pretty damn bullish. I haven’t been this bullish since early 2017.”
As for his long-term BTC forecast, the veteran trader believes that Bitcoin is poised to ignite a massive rally within the next six months.
“Let’s be reasonable here. Let’s say we have a 300% move. That takes us to $50,000.”
However, Vays believes Bitcoin will suffer a massive devaluation after going as high as $50,000 before recovering and climbing above $100,000.
“I can see a 50% crash, which would take us to about $20,000 to $25,000. Let’s say we go back to $20,000 – the prior swing high… And then from there, I could see, this would be fast, I could see a slow grind back up to $50,000.
From this $50,000 area or let’s from that $40,000 area, we go up another 300% to 400%. This is something that’s realistic to me. That takes us to say $150,000 from there. How long would that take? Before the next halving.”
In other trending Bitcoin News today:
Nautilus Research: Bitcoin (BTC) Pattern Echoes Early Days of Prior Exponential Rallies
Bitcoin (BTC) is displaying patterns that have historically occurred before massive breakouts, potentially indicating the start of the next exponential bull run, says research agency Nautilus Research.
In a Twitter post, Nautilus Research suggests that Bitcoin is currently forming a pattern that has preceded the bull runs of 2012 and 2017.
“Bitcoin echoes of patterns ahead of previous major breakouts.”
According to the independent research boutique’s chart, Bitcoin has historically corrected at least 80% from boom cycle highs and then consolidated for over a year before launching the ensuing bull market.
If history is any indicator, Bitcoin may soon ignite a parabolic rally that could send the most dominant cryptocurrency well above $100,000.
“Investors piled into Bitcoin this week and this rally spilled over to other crypto assets. At the same time, investors are sticking to high-quality names primarily, as we’re seeing the most strength coming out of the large caps.
Bitcoin is the go-to asset for traditional investors looking to diversify their holdings into cryptocurrency. As such, any time we see Bitcoin take the lead, we can be certain that new money is entering the space. This is a prerequisite for any sustainable crypto bull run.”
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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:
https://cointelegraph.com/news/highest-weekly-close-since-early-2018-5-bitcoin-price-tips-this-week
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Momentum Shift Will Drive Bitcoin to K in Six Months or Less! | BTC Is the ‘New’ Apple
➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net
Bitcoin (BTC) is on track to break its all-time high and hit $50,000 in a matter of months, according to Nexo co-founder and managing partner Antoni Trenchev.
In a new interview during the virtual Block Down conference, Trenchev said his crypto lending platform is witnessing double-digit percentage growth rates month-on-month, with a wide range of both institutional and retail investors jumping in.
He believes a significant increase in institutional participation in the crypto markets will power a new bull run.
“We have clients from every corner of the world, every age group. We have from young adults, all the way to boomers who for some reason have chosen to put assets in digital form and to conduct business with us. So the demographic, it’s really, really diverse and we cover it all.
Right now we’re seeing a great influx in both the retail part and the institutional side of things because for institutions, crypto got a huge endorsement by Paul Tudor Jones. When you have the guy who put the word hedge in hedge funds endorse Bitcoin, and say they have an allocation of a few percent of their total assets on their management in Bitcoin, that gives them the additional boost of traditional institutions to come into the space.
So we have quite heavily been onboarding with institutions that up to very recently would not have to articulate their liking of Bitcoin. And now with this endorsement of Paul Tudor Jones, the timeline has shifted gears and it’s expanding very rapidly.”
Trenchev says Bitcoin’s monetary supply stands in stark contrast to the level of money printing from governments, which he believes will benefit both gold and BTC.
“I think that there’s just no case that this isn’t good for both gold, but more importantly Bitcoin. So yes, I’m sticking to my prediction of 50k until the end of the year. I appreciate that it is a bold statement, but the fundamentals are there and the momentum is shifting there as well.”
In other trending Bitcoin News today:
Will Bitcoin Hit $288,000 by December of 2021? New Poll Reveals Crypto Trader Sentiment on BTC
A new survey launched by PlanB, the crypto analyst known as the first apply the stock-to-flow (S2F) ratio to Bitcoin, reveals where members of the crypto community believe BTC is heading.
The results of the survey suggest crypto traders are a bit skeptical of PlanB’s S2F model, which predicts Bitcoin surging as high as $288,000 in the next bull cycle.
More than 60% of the respondents do not see BTC touching any of the price points predicted by the three S2F models within the next two years. Over 40% say they believe Bitcoin will not hit $55,000 before 2021 expires.
The survey indicates that at the current price of $9,118.92, nearly half of crypto Twitter sees a maximum upside of 450% for BTC in the next bull cycle.
That figure is a far cry from the gains of the 2013 bull market which witnessed BTC surge from $2.22 in 2011 to $1,163 in 2013 – a 52,287% rally, and the bull rally that propelled the king coin from $152.40 in 2015 to an all-time high of $19,666 in December 2017 – a 12,000% surge.
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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:
Do you think #bitcoin will reach $288K (S2FX), $100K (S2Fv2), $55K (S2Fv1) before December 2021, or will BTC stay below $55K?
— PlanB 🔴 (@100trillionUSD) July 3, 2020
https://cointelegraph.com/news/bitcoin-is-the-new-apple-how-btc-price-could-reach-60-000-by-2023
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CONTROVERSIAL BITCOIN PRICE MODEL PLACES 'EXACT DATE' ON WHEN BTC WILL SHATTER 0,000!!
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We can expect the Bitcoin price to shatter $100,000 on this ‘exact date’ according to one of the most controversial BTC analysts in Crypto.
Using the stock-to-flow model (S2F), which divides the amount of Bitcoin in circulation by the amount of BTC mined per year, PlanB believes BTC is set to be over $100,000 on August 16th, 2021.
The high-profile crypto analyst retweeted a post from Dutch entrepreneur Marc van der Chijs on the viability and timing of the S2F model.
“Most people think this is impossible, but I have seen a 1,000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again, anything is possible.”
PlanB was the first analyst to apply the S2F model to Bitcoin.
Although it has plenty of critics, predictions from the model have so far been highly accurate.
Over the weekend, the quantitative analyst told his 123,000 Twitter followers that the stock-to-flow ratio continues to be in step with Bitcoin’s price action.
“3rd red dot (currently $11,850) above 2nd red dot (bitcoin July close $11,356) and above 1st red dot (June close $9,132)… next target: December 2017 ATH close $14,000.”
In other rending Bitcoin News today:
ANALYST: BITCOIN COULD SURGE TO $17,000 ONCE THIS CRUCIAL LEVEL IS BROKEN
Analysts are now closely watching to see how BTC continues responding to $12,000, as it has yet to catalyze any sharp selloff during this latest push higher. While speaking about Bitcoin’s near-term outlook, one analyst explained that in an optimistic scenario, the crypto’s price could push as high as $17,000.
That being said, he also notes that there are hurdles in the way, with $13,000 being the first region he is watching.
“Bitcoin: Given the significance of this level, I’m starting to think this is becoming a very likely scenario. However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area.”
For this possibility to play out – or even come close to coming to fruition – it is imperative that Bitcoin breaks past $12,000 with decisive force.
EX-PRUDENTIAL CEO DOES A U-TURN: IT IS TIME TO BUY BITCOIN
In an interview with Fred Katayama of Reuters, Mr. Ball, who currently serves as the Chairman of the investment firm Sanders Morris Harris seemed to showcase a more positive stance towards Bitcoin.
Previously, George was a hater of the world’s top cryptocurrency and blockchain technology.
But now he thinks that Bitcoin makes for an attractive long-term investment. According to him:
“…it’s where many people will turn after Labor Day…” Ideally, as an investor, he would either want “to make a safe haven for my money or a short-term speculative bet.”
The ex-Prudential boss remarked that the current scenario in stock markets is boring, and the ‘liquidity flood’ is the only thing that’s keeping things afloat.
But that will soon end. Mr. Ball said that the continuous flurry of stimulus packages would eventually return to bite back the government, and added that: He thinks that ‘traders and investors should realign their portfolios substantially,’ and allocate sections of their portfolios to Bitcoin.
Why? Because BTC’s “…something that can’t be undermined by the government, and it won’t become worthless…” And that’s why wealthy traders and investors could probably turn to Bitcoin, as ‘there are no yields today.’
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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:
$BTC #BITCOINGiven the significance of this level, I’m starting to think this is becoming a very likely scenario.
However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area. pic.twitter.com/jSeAuyRhCp
— Crypto Michaël (@CryptoMichNL) August 15, 2020
No, $288k is the average in roughly mid2020-mid2024
— PlanB 🔴 🔴 🔴 (@100trillionUSD) August 17, 2020
Most people think this is impossible, but I have seen a 1000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again anything is possible. https://t.co/rOf63ud0zK
— Marc van der Chijs – new account (@marcvanderchijs) August 16, 2020
Analyst: Bitcoin Could Surge to $17,000 Once This Crucial Level is Broken
https://cryptopotato.com/ex-prudential-ceo-does-a-u-turn-it-is-time-to-buy-bitcoin/
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