The world of cryptocurrency is once again abuzz with excitement as the renowned Stock-to-Flow (S2F) model, popularly known as “Plan B,” maintains its bold prediction for Bitcoin’s next target: $87,000. According to the latest update, Plan B asserts that the BTC price is “still on track” toward achieving the coveted six-figure milestone, igniting anticipation and speculation among crypto enthusiasts.
Plan B’s S2F model has gained significant credibility for its historical accuracy in predicting Bitcoin’s price movements based on the asset’s scarcity. As the crypto market experiences fluctuations influenced by various factors, the consistency of Plan B’s projections has captured the attention of both seasoned investors and newcomers alike.
The article highlights the confidence expressed by Plan B in Bitcoin’s trajectory, affirming that the cryptocurrency is steadfastly moving toward the $87,000 mark. Understanding the basis of this prediction involves delving into the Stock-to-Flow model, which factors in Bitcoin’s production rate and circulating supply to estimate its future value.
For investors navigating the volatile crypto landscape, the reassurance from Plan B may provide a sense of confidence in the midst of uncertainty. However, it’s crucial to acknowledge that the market can be unpredictable, and external factors such as regulatory developments, macroeconomic trends, and market sentiment can influence the trajectory of digital assets.
As Bitcoin enthusiasts eagerly await the realization of this $87,000 target, it’s essential to approach such predictions with a balanced perspective. While the S2F model has been remarkably accurate in the past, unforeseen events can impact market dynamics. Investors are encouraged to stay informed, conduct their research, and consider various factors when making decisions in the crypto space.
The journey toward six-figure territory for Bitcoin remains an intriguing narrative in the evolving landscape of digital currencies. As Plan B’s projections continue to capture the imagination of the crypto community, eyes will be glued to the charts to see if Bitcoin can indeed reach the anticipated $87,000 milestone. Whether this becomes a reality or introduces new twists to the crypto saga, only time will unveil the next chapter in Bitcoin’s remarkable journey.
You Might also like
-
BITCOIN PRICE METRIC SUGGEST K SURGE AFTER U.S. ELECTIONS!! EXPECT MASSIVE BTC SHORTAGE!!
➡️ Leverage OPM (Other People’s Money): http://100.cryptonewsalerts.net
The Bitcoin price has support to climb all the way to $15,000 per BTC if historic trends repeat themselves this year, a new report says.
Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fueling gains, which could smash $12,000 resistance.
The BTC price has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week.
This has failed to dent optimism among analysts, who believe that $11,000 will provide solid support.
Going forward, however, the period following the United States elections in early November may result in more upside.
For Stack Funds, this hinges on the MVRV ratio. This is currently at 1.8, with signs that a retest of 2.5 from 2019, when BTC/USD hit $13,800, is in play.
“The current MVRV ratio is at 1.8, and is purportedly well supported by the trendline where bitcoin bottomed back in late 2018. The trend is also painting a similar trajectory as it did back in the 2017 bull run, with a steady growth inclination that tested an identical support trendline multiple times,” the report states.
“Given the strength in support, we are expecting a significant break of 2.0 in the near term as it looks to retest the 2019 peak at 2.5, which will put Bitcoin price above the $15,000 level.”
Stack also noted increasing institutional interest in Bitcoin as cementing the idea that the future is firmly bullish for price action.
Stone Ridge investing $115 million followed Square’s $50 million purchase, both gaining publicity on the back of MicroStrategy’s larger $425 million treasury investment.
Bitcoin futures open interest is also climbing this month, signaling that institutional activity is picking up once more.
“We further view that a re-positioning is occurring in the market with a possible shift in the economic climate, as futures volumes and open interest are starting to recover,” Stack’s report explains.
“Our eyes are peeled on the $12,000 key resistance level, as we expect further consolidation around current levels going into the elections before breaking into the upside going forward.”
In other trending Bitcoin News today:
‘Shorts Will Be Dead’ – Why Dan Tapiero Expects A Massive Bitcoin Shortage
In recent months, there has been a considerable spike in institutional demand for Bitcoin (BTC) following several high profile investments.
Over time, asset manager and 10T Holdings co-founder Dan Tapiero believes this could lead to a problematic shortage in BTC.
Alongside investments from Square, MicroStrategy and Stone Ridge, Bitcoin inflows to Grayscale Bitcoin Trust have surged.
Based on the rapid growth of institutional investments, Tapiero warns that short-sellers could see trouble in the future.
In the third quarter of 2020, the Grayscale Bitcoin Trust recorded an inflow of $1.05 billion.
This marked the firm’s first billion-dollar quarter and also highlights record-high institutional demand.
The firm’s quarterly report reads:
“Grayscale recorded its largest ever quarterly inflows, over $1 billion in 3Q20, making it the third consecutive record-breaking quarter. Year-to-date investment into the Grayscale family of products has surpassed $2.4 billion, more than double the $1.2 billion cumulative inflow into the products from 2013-2019.”
Considering the continuous increase in Grayscale inflow from institutional investors, Tapiero said:
“SHORTAGES of Bitcoin possible. Barry’s Grayscale Trust is eating up BTC like there is no tomorrow. If 77% of all newly mined turns into 110%, it’s lights out. Non-miner supply will get held off market in squeeze. Shorts will be dead. Price can go to any number.”
Follow Us:
🔥 Blog/Podcast: http://CryptoNewsYes.com
🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net
🔥 Subscribe on Spotify: http://spotify.cryptonewsalerts.net
🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net
🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes
🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net
🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
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:
SHORTAGES of #Bitcoin possible.
Barry’s @Grayscale trust is eating up btc like there is no tomorrow.
If 77% of all newly mined turns into 110%, it’s lights out.Non-miner supply will get held off mkt in squeeze.
Shorts will be dead. Price can go to any number. pic.twitter.com/4S4TrLNH8J
— Dan Tapiero (@DTAPCAP) October 14, 2020
October is the month I gradually increase my $ALTS exposure, I’ll have at least 15% of my early October $BTC stash converted by months end.
No FOMO needed: smart bidding is the aim for now. I said it in 2019: couple months past halving I accumulate $ALTS big, trigger in motion.
— SalsaTekila (@SalsaTekila) October 10, 2020
❓Why does #bitcoin price not go up with all this institutional buying? Who is selling? BTC price is exactly where it should be, holding firm above $10K, waiting for that one moment .. asymmetrical returns .. patience! pic.twitter.com/pCyftmvHco
— PlanB (@100trillionUSD) October 16, 2020
https://cointelegraph.com/news/bitcoin-price-metric-suggests-15k-surge-after-us-elections-report
Post Views: 439 -
BITCOIN (BTC) WILL RALLY 100-400% IN THE COMING 18 MONTHS | Ethereum (ETH) Technical Analysis
➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net
Bitcoin (BTC) will trade between $20,000 and $50,000 according to top Cryptocurrency analyst Simon Peters of eToro.
In other trending Crypto news today:
Ethereum (ETH) Just Saw A Key Technical Breakout And $230 Seems Imminent
Since March’s capitulation lows of $3,700, Bitcoin has performed extremely well, recently rallying to $10,000.
It’s a level that BTC has traded above only for 5% of its history.
The move from the lows has undoubtedly been impressive, with Bitcoin attracting mainstream media attention as the world grapples with a recession.
Though analysts remain optimistic, asserting that new all-time highs past $20,000 are likely in the years ahead.
Analysts touting this sentiment include Galaxy Digital’s Mike Novogratz, Raoul Pal of Real Vision, and Dan Morehead of Pantera Capital — all former institutional traders turned crypto bulls.
There are also individuals like the Winkelvoss Twins, who are behind the Gemini crypto exchange, who buy into this as well.
Another is Simon Peters, analyst at eToro who told Bloomberg that in the next 18 months, Bitcoin will trade between $20,000 and $50,000.
For most of these individuals, the bullish sentiment comes down to one thing: central banks and governments.
Over the past few weeks, to respond to the growing economic crisis caused by the outbreak of COVID-19 and the subsequent lockdowns, the world’s monetary and fiscal authorities have printed trillions of dollars.
The Federal Reserve alone has added over $2 trillion to its balance sheet in the past two months, while the White House has signed off on trillions of dollars worth of stimulus.
The aforementioned Bitcoin proponents expect this macroeconomic trend to rapidly prove the value of a scarce and decentralized asset.
As Novogratz explained in a recent CNN interview:
“We have quantitive easing over quantitative easing all over the world, not just in the U.S. […] On the flip side, Bitcoin’s halving is basically ‘quantitative tightening’. So you have this exclamation point on the story of a scarce asset.”
Ethereum is up more than 5% and it broke the key $205 resistance against the US Dollar.
ETH price remains well supported and it is likely to continue higher towards $230.
After forming a strong support base above $192, Ethereum price started a fresh increase against the US Dollar.
Bitcoin price also gained pace towards $10,000, resulting in an upside break above the $200 resistance zone.
The price surged above the $205 resistance and the 100 hourly simple moving average.
Ether is up more than 5% and it is now trading near the $215-$216 resistance zone.
An initial support is near the $214 level.
The 23.6% Fib retracement level of the recent rise from the $206 low to $216 high is also near the $214 level.
The first major support is seen near the $212 level, where the bulls might take a stand.
More importantly, there is a key bullish trend line forming with support near $210 on the hourly chart of ETH/USD.
The trend line is close to the 50% Fib retracement level of the recent rise from the $206 low to $216 high.
If Ethereum starts a downside correction, it is likely to find bids near the $212 and $210 levels.
Any further losses may perhaps lead the price towards the main $205 support zone (the recent breakdown zone).
If the bulls fail to keep the price above the $205 zone, there are chances of a renewed downtrend towards $192.
Follow Us:
🔥 Blog/Podcast: http://CryptoNewsYes.com
🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net
🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net
🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes
🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net
🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
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:
ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.
— therealkiyosaki (@theRealKiyosaki) May 16, 2020
This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own Bitcoin. One day you’ll see a wizened old woman in the street, trying to trade a Harry Potter book for a potato. Be kind. She did try to understand.
— J.K. Rowling (@jk_rowling) May 15, 2020
Post Views: 358 -
BITCOIN PRICE MANIPULATION! | ‘Unpopular’ Theory on What Triggered BTC and Crypto Crash
➡️ 5 COINS to $5 MILLION REPLAY: http://teeka.cryptonewsalerts.net
New research suggest the Bitcoin price is being manipulated by futures settlement dates.
The BTC price drops 75% of the time before futures expire.
Wall Street analyst Tom Lee says, “Bitcoin’s recent crash continues to reinforce his “unpopular” theory that Bitcoin has long-term ties to the S&P 500.
Lee thinks Bitcoin suffers when stocks are flat.
➡️ Watch 5 Coins to $5 Million Replay here: http://teeka.cryptonewsalerts.net
You will receive the following 5 BONUSES upon registration:
- Bonus #1: First Look At Teeka’s New “5 Coins To $5 Million” Research
- Bonus #2: The Name of Teeka’s #1 Cryptocurrency Pick
- Bonus #3: $5,000 In Premium Crypto Training – FREE
- Bonus #4: Exclusive Palm Beach Confidential Lifetime Sweepstakes
- Bonus #5 BONUS Q&A Session
🔥 ByBit – Deposit 0.2 BTC to get $110 FREE Trading Bonus using my Referral Link: – ► http://bybit.cryptonewsalerts.net
🔥 Bybit Tutorial (Step-By-Step Walk-Thru) : – ► https://www.youtube.com/watch?v=0X9RTlw546E
🔥 BTC eBook Profits – Download a FREE copy of my latest ebook: ► http://btcprofits.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
🔥 Crypto Alchemy FB Group – Join my private Crypto Alchemy FB group: ► https://www.facebook.com/groups/cryptoalchemy/
🔥 Telegram Group – Join my private Crypto Alchemy Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Twitter: ►https://twitter.com/CryptoNewsYes
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.
News Resources From Today’s Show:
https://cointelegraph.com/news/bitcoin-price-manipulated-before-futures-settlement-dates-research
‘Unpopular’ Theory on What Triggered Bitcoin and Crypto Crash Emerges
https://www.coindesk.com/bitcoin-may-see-brief-bounce-after-defending-key-price-support
Post Views: 391