BITCOIN HIT BITCOIN HIT $1 BILLION IN ALL-TIME TRANSACTION FEES! | BTC Price Analysis BILLION IN ALL-TIME TRANSACTION FEES! | BTC Price Analysis

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With the Bitcoin halving rapidly approaching, the multi-billion-dollar question is just how the historic event will impact BTC price.

One popular Bitcoin price prediction model has a post-halving price in the range of $55,000 to $400,000.

According to the theorist behind the prediction, people have been misinterpreting the model behind the lofty figures presented.

The analyst responsible for them has addressed the confusion, advising folks not to hold their breath for a $50,000+ Bitcoin (BTC) during the three months leading up to the halving.

Apparently some people have interpreted the already extremely bullish BTC price prediction model as even more optimistic than it is though.

Analyst Plan B addresses the misunderstanding in the following tweet:

“Some misunderstandings about S2F model: 1) That it predicts $100k by May2020. No, it predicts $100k May2020-2024 average, like the chart shows 2) Why $100k, it was $55k? Yes, the original model on monthly data (Mar22) says $55k, but a new model on yearly data $100k. Your choice.”

The analyst clarifies that the price mentioned in the original paper (and a higher target of $100,000 worked out using yearly data) is not a pre-halving prediction.

Instead, it refers to the average price we can expect at some point after the event itself.

CHAINLINK (LINK) TO HIT A NEW ALL-TIME HIGH SOON, ANALYST CALLS

Chainlink crypto, a project that joined the crypto market relatively late, is on an expansion again, promising to break its all-time record.

LINK, one of the most active altcoins that has even defied the bear market, is on a fast expansion once again.

The asset has been known for its rapid, significant appreciation boosted by activity on Binance and a strong community.

LINK remains volatile, sinking from its highs by as much as 60%, but expansions are dramatic.

This time, while an altcoin season is not a promise, most assets regain some of their value.

This translates into significant earning opportunities as altcoins move very fast. What is even more curious, LINK made most of its gains during the bear market of 2019, and has repeated price peaks in the past year.

“There is virtually little to no resistance between here and the ATH for $LINK We should see new ATH’s & price discovery next few months – this alt rebound I’m confident will continue with $BTC halving looming in the background and the bull market cycle progressing forward …”

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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:

There is virtually little to no resistance between here and the ATH for $LINK

We should see new ATH’s & price discovery next few months – this alt rebound I’m confident will continue with $BTC halving looming in the background and the bull market cycle progressing forward … https://t.co/EvECsnOR4e

— Satoshi Flipper (@SatoshiFlipper) February 7, 2020

Some misunderstandings about S2F model:1) That it predicts $100k by May2020. No, it predicts $100k May2020-2024 average, like the chart shows

2) Why $100k, it was $55k? Yes, the original model on monthly data (Mar22) says $55k, but a new model on yearly data $100k. Your choice. pic.twitter.com/QkCFepZHpw

— PlanB (@100trillionUSD) February 7, 2020

A Bitcoin Price of $15,000 Will Make BTC Mining Profitable Post Halving

Chainlink (LINK) to Hit a New All-Time High Soon, Analyst Calls

When $100k Bitcoin? Analyst Clarifies Popular BTC Price Prediction Model

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Raoul Pal thinks Federal Reserve policies could lead Bitcoin (BTC) to 100x gains.

On Thursday, Fed Chairman Jerome Powell said that the U.S. central bank would prioritize keeping unemployment low over reigning in inflation.

Pal, the former head of European hedge fund sales for Goldman Sachs, says that the shift in monetary policy is lending major upside to gold and, to an even greater degree, Bitcoin.

“Powell has shown that there is ZERO tolerance for deflation so they will do ANYTHING to stop it, and that is good for the two hardest assets – gold and Bitcoin.

Powell WANTS inflation. I don’t think he gets true demand push inflation, but he will get fiat devaluation, in conjunction with the other central banks all on the same mission. Overall, I think Bitcoin outperforms gold. Gold can go up 2x or 3x or even 5x while Bitcoin can go up 50x or even 100x.”

The top cryptocurrency is currently trading at $11,496 so a 50x gain would mean a value of $574,800 per BTC, and a 100x gain would be a $1,149,600 Bitcoin price.

In the short term, Pal says both gold and BTC could drop further, and he’s loading up on Bitcoin and Ethereum amid the market downturn.

“Gold has maybe 25% downside and Bitcoin 50%, so risk-adjusted BTC kills it. However, I own both but a LOT more BTC (and some ETH). Over time, all will rise again. I’m buying more BTC and ETH as the price falls and my gold is in a vault not to be touched.”

Meanwhile, Pal says Ethereum (ETH) offers a unique use case.

“[Ethereum is] not a reserve asset but a call option on a future platform for finance and trusted ownership via smart contracts.”

In other trending Bitcoin News today:

Yearn.finance (YFI) Jumps to $25,000 Eclipsing Bitcoin’s All-Time High Price of $20k

Yearn.finance (YFI), one of the hottest crypto assets in the Ethereum decentralized finance space, has seen an extreme price performance in the past day.

The asset has gained approximately 30% in the past 24 hours. This is an outperformance of Bitcoin’s 1% gain and Ethereum’s 1.7% move higher.

YFI is currently trading above $25,000 at this time.

What’s especially notable about the rally in YFI is that it was launched just a month ago. Further, at the launch, creator Andre Cronje asserted that the cryptocurrency literally has “zero value.”

The crucial trend behind YFI’s ongoing move to the upside is it getting listed on another leading DeFi platform, Aave.

Aave is a money-market protocol that allows users to lend and borrow cryptocurrencies based on Ethereum. Aave announced the listing on August 28th.

This listing should provide YFI with some positive price pressure as that means holders can now earn further yields on their YFI.

YFI is also benefiting from the launch of Curve’s Curve DAO token (CRV).

The token is being used by Yearn.finance as a medium through which yield can be obtained on deposits of stablecoins like USD Coin and Tether.

These yields have become so attractive to investors that hundreds of millions have been siphoned into the Yearn.finance protocol.

This increase in deposits has led to an increase in the value of YFI, which is a proxy for the value of the Yearn.finance ecosystem.

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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:

I don’t think he gets true demand push inflation but he will get fiat devaluation, in conjunction with the other central banks all on the same mission.

Overall, I think #Bitcoin outperforms gold. Gold can go up 2x or 3x or even 5x while bitcoin can go up 50x or even 100x.

— Raoul Pal (@RaoulGMI) August 28, 2020

Prepare to be patient in #Bitcoin. Each up cycle takes longer to play out and is less extreme as absolute dollar value gets much larger.May or may not be another 6-12 months before price breaks up. Should not matter as end price point obscenely higher.

Hodlers rejoice. pic.twitter.com/IH7izyxXvm

— Dan Tapiero (@DTAPCAP) August 28, 2020

Yearn.finance (YFI) Jumps 30% Towards Bitcoin’s All-Time High Price of $20k

https://dailyhodl.com/2020/08/28/real-vision-ceo-says-bitcoin-price-targeting-1150000-after-shift-in-federal-reserve-policy-with-ethereum-a-call-option/

https://cointelegraph.com/news/history-shows-bitcoin-price-may-take-3-12-months-to-finally-break-20k

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Macro guru and Bitcoin bull Raoul Pal says he’s battling the urge to sell off all of his BTC in order to buy more Ethereum (ETH).

“The ETH space is growing at 100% YOY (vs 50% YOY for BTC) and it is attracting a massive proportion of the developer talent and applications too.

At this point in the risk cycle and with ETH 2.0 coming (cheaper fees and less supply), I’m struggling to not sell all my BTC to move my entire core position to ETH. To be clear – I’m a massive BTC bull, but I think ETH is the better asset allocation for performance right now.”

In other trending Bitcoin News today:

The state of Louisiana just thanked Satoshi Nakamoto for their contribution to “economic security” in a latest resolution signed yesterday.

“To commend Bitcoin for its success in becoming the first decentralized trillion dollar asset and to encourage the state and local governments to consider ways that could help them benefit from the increased use of this new technology.”

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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:

To be brutally honest, I stare at the chart of ETH/BTC and I see an enormous rounded bottom with potentially huge breakout just above…. pic.twitter.com/85hfawq0bx

— Raoul Pal (@RaoulGMI) April 21, 2021

New Crypto Asset Surges 40,000% in One Day As Meme Coin Tidal Wave Evolves

https://cointelegraph.com/news/planb-speculates-that-btc-price-fall-doesn-t-mean-the-end

https://cointelegraph.com/news/governing-body-of-louisiana-gives-bitcoin-its-nod-of-approval

https://cointelegraph.com/news/bitcoin-funding-rate-flips-negative-after-48k-retest-was-it-a-bear-trap