BITCOIN PRICE OF 0K – 0K IS CONSERVATIVE!!! | CMDX Smart Currency Interview

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PlanB, the creator of the stock-to-flow (S2F) model, reiterated on Nov. 8 that the Bitcoin price is well on its way to hit $100,000.

The pseudonymous analyst expects the dominant cryptocurrency to achieve the $100,000 to $288,000 range by December 2021.

Bitcoin would have to increase by around 545% from the current price to surpass $100,000.

At that price point, the market capitalization of BTC would near $2 trillion, or roughly the same as Apple, the world’s most valuable company. 

The S2F model attempts to predict the long-term price trend of Bitcoin by evaluating its supply.

Namely, it takes into consideration its fixed supply and the block reward halving, which reduces the rate at which new BTC is produced or “mined.”

The theory behind S2F is that as the supply of Bitcoin decreases over time and inflation would continuously rise.

These two factors could theoretically amplify the uptrend of the top cryptocurrency.

Based on Bitcoin’s supply curve and the halving cycles, S2F puts the expected valuation of BTC at $5.5 trillion.

The model predicts Bitcoin to reach a multi-trillion-dollar valuation before 2024.

The model reads:

“S2FX model estimates a market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020–2024) of $5.5T. This translates into a BTC price (given 19M BTC in 2020–2024) of $288K.”

In a tweet, PlanB said he remains confident the S2F model’s $100,000 price projection for Bitcoin would materialize.

2021 is particularly important for Bitcoin because it follows a highly anticipated block reward halving in May 2020.

Six months ago, Bitcoin experienced its third halving in history.

This decreased the number of BTC mined each day by half, which would cause the circulating supply to drop over time.

The analyst wrote:

“People ask if I still believe in my model. To be clear: I have no doubt whatsoever that bitcoin S2FX is correct and bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!”

So far, following the halving, Bitcoin has increased from $8,700 to $15,500, recording a 78.1% rally in six months.

On-chain analysts like Woobull.com creator Willy Woo say that the total supply of Bitcoin is lower than often thought.

While the total supply of Bitcoin is 21 million, there is a high number of BTC that is lost or dormant that can no longer be accessed.

Woo said:

“Total supply of Bitcoin will not be 21m, it’ll be around 17m as many coins died in the fight for being acknowledged as something valuable in the early days. This means 0.002 BTC per person on the planet.”

As such, PlanB expects Bitcoin to follow the S2F model as the available supply and the amount of new Bitcoin mined decreases over time. 

In other trending Bitcoin News today:

“WHY THIS ANALYST THINKS BITCOIN HITS $17,000 IN THE NEXT WEEK”

Analysts are optimistic that Bitcoin could resume its ascent, potentially towards $17,000 or even $18,000 as the trends of this market remain positive:

“I think there’s a decent chance bitcoin breaches $17k and even into $18k in the next 10 days (next weekly candle). We are due for a decent mid timeframe blowoff and chill for a bit and wicking into the ATH cluster just feels so right…

The path to $18k or ATH wick seems the path of least resistance. Nobody wants to sell until then and everybody is buying dips. Easiest way to create market balance is to do it quickly then let the market chop around a bit.”

The aforementioned trader isn’t the only one calling for Bitcoin to hit $17,000 in the near future.

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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:

People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG

— PlanB (@100trillionUSD) November 8, 2020

Why This Analyst Thinks Bitcoin Hits $17,000 in the Next Week

https://cointelegraph.com/news/s2f-creator-has-no-doubt-bitcoin-will-hit-100k-by-december-2021

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Bitcoin bull Anthony Pompliano shares his thoughts on the future of XRP, Ripple, and Bitcoin in his latest interview with Ripple CEO Brad Garlinghouse.

At the end of this exclusive 90-minute interview, Anthony Pompliano says he thinks there are a couple of likely outcomes for the future of Fintech.

For starters, Pompliano says Ripple’s mission to help banks become more efficient makes a lot of sense.

“I think I’m actually on the podcast, on the record, saying it’s important to separate out the software company from XRP. I actually think that having software that makes banks run better – there’s a big business to be built there. We’ve actually invested in a bunch of businesses that are trying to disrupt software that is currently in banks or helping banks be more efficient. That all makes a lot of sense to me.”

Are Altcoins ready to explode?!

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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.

News Resources From Today’s Show:

Bitcoin Bull Anthony Pompliano Reveals New Outlook on Ripple and XRP

https://www.stitcher.com/podcast/blockworks-group/off-the-chain/e/64470239

https://www.ccn.com/bitcoin-bull-anthony-pompliano-roasted-twitter/

Bitcoin continues marching forward.Block after block after block.Completely immune to the manipulation of economies or political instability of nations.Bitcoin is doing exactly what it was designed to do.

What a beautiful thing to witness.

— Pomp 🌪 (@APompliano) October 9, 2019

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A closely-followed crypto trader is predicting giant rallies for Bitcoin and Ethereum before the turn of the new year, but there’s a catch. In a series of tweets, the pseudonymous trader and analyst known as Kaleo lays out gargantuan predictions for BTC and ETH in the coming months.

Among other things, Kaleo predicts that before 2022 rolls around, Bitcoin shatters $100,000 and Ethereum breaks through $10,000, all while altcoins rally hard.

“My predictions for the second half of 2021:

– $BTC enters 6 figure price discovery

– $ETH breaks above $10K

– We see one more major alt season

– More institutional / government adoption 

– More institutional / government FUD

– Cryptunez gets a girlfriend

– Bears remain bearish”

In other trending Bitcoin News today: Here’s When the Altseason Rocket Takes Off, According to Crypto Trader Tyler Swope! Even though Bitcoin can’t seem to recover the $40,000 level and Ethereum is toying with dropping down to $2,000 again, Swope tells his 253,000 subscribers that there will be another altseason, and it will come sooner than some may think.

“There will be more than a few other altseasons coming this year, and a big one I project happening begins in July – around the middle of it. There are already signs the market wants this to happen.”

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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:

My predictions for the second half of 2021:

– $BTC enters 6 figure price discovery

– $ETH breaks above $10K– We see one more major alt season– More institutional / government adoption – More institutional / government FUD– Cryptunez gets a girlfriend

– Bears remain bearish

— K A L E O (@CryptoKaleo) June 17, 2021

https://cointelegraph.com/news/bitcoin-price-dips-below-34k-as-grayscale-starts-giant-btc-unlocking