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Quantitative analyst PlanB believes Bitcoin will hit a six-figure price by the end of the year despite the recent meltdown in the cryptocurrency markets.
PlanB tells his 833,000 Twitter followers that BTC will close at or above $100,000 in December, according to his stock-to-flow (SF2) model.
However, based on logarithmic regression or the time model, the quantitative analyst says the flagship cryptocurrency could fall to $30,000.
âSo what will Bitcoinâs December closing price be?
â S2F model says $100K
â Time model (logarithmic regression) says $30K
Next couple of months will be Interesting. My money is on S2F, of course.â
In other trending Bitcoin News today: Twitter Launches Crypto Tipping For All Users! Bitcoin tips are available to send through the Lightning Network using the Strike app, or by adding a BTC address directly to oneâs profile.Â
âToday is the day millions of people will start using Bitcoin without knowing theyâre using Bitcoin.Â
Itâs the beginning of when nobody questions, or even cares how it works.Â
Itâs just an inextricable part of their lives â and soon they wonât remember a time without it.â- Max Keiser
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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/twitter-launches-crypto-tipping-for-all-users
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Navigating the Storm: Bitcoin Faces Prospect of Consolidation until 2022 Amid Mass Wipeout
In a sudden turn of events, the cryptocurrency market is grappling with a mass wipeout that has sent Bitcoin’s price tumbling to $41,000, leaving investors and enthusiasts on edge. The latest speculation suggests that Bitcoin could undergo a period of consolidation, extending into 2022, as the market attempts to find stability after the recent wipeout.
The article at the center of this discussion sheds light on the challenges faced by Bitcoin as it experiences a significant price correction. The term “consolidation” suggests a period of relative stability, wherein the cryptocurrency may trade within a certain range as market forces seek equilibrium.
The mass wipeout has caught the attention of the crypto community, prompting questions about the factors that led to this abrupt downturn. External factors such as regulatory developments, macroeconomic trends, and market sentiment often play a role in shaping Bitcoin’s price movements, contributing to moments of volatility.
For investors, the prospect of Bitcoin consolidating until 2022 introduces a period of uncertainty. Such phases can test the resilience of the market and the resolve of those engaged in the crypto space. The key question becomes: What factors will determine Bitcoin’s trajectory during this consolidation period, and what should investors keep in mind as they navigate these stormy waters?
While market analysts may provide insights into potential catalysts and outcomes, it’s essential for investors to approach predictions with caution. The cryptocurrency landscape is dynamic, and unforeseen events can impact the trajectory of digital assets. Staying informed, diversifying portfolios, and exercising risk management are critical strategies for weathering market turbulence.
As Bitcoin faces the possibility of consolidation until 2022, it’s important to recognize that such periods are not uncommon in the volatile world of cryptocurrencies. Past market cycles have demonstrated the resilience of digital assets, with periods of consolidation often preceding renewed momentum.
Whether this period of consolidation serves as a necessary recalibration for Bitcoin or marks a more prolonged phase of uncertainty remains to be seen. As the crypto community watches and waits, the coming months will likely provide more clarity on the trajectory of Bitcoin and the broader cryptocurrency market.
In the grand narrative of Bitcoin’s journey, periods of volatility and consolidation are but chapters in the ever-evolving story of digital currencies. As the year unfolds, market participants will continue to adapt, learn, and position themselves strategically in response to the shifting dynamics of the cryptocurrency landscape.
