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In a recent interview with Scott Melker, popularly known as The Wolf Of All Streets, the Bitcoin S2F model creator PlanB, gave reasons why he believes BTC will trade as high as $5 million per coin in years to come.
“Maybe that all-time high could be reached this year and the low the year after in 2022 but after that there will be another halving in 2024. So 2025 and the years after that will be actually much much more interesting than the next two years. And yes, the S2F models predict prices ranging from $1 million (for the normal stock flow model) to 5 million (for the stock flow x model),” PlanB explained.
According to him, he will hold on to his bitcoin bags and will only sell small, if need be, to survive the bear market.
“My eyes are, by the way, on those price levels ($1m to $5m) more than on the $100k to $288k so I’m not selling. Maybe some to just survive the bear market but yeah,” he said.
In other trending Bitcoin News today: Institutions appear bullish on crypto despite record Bitcoin outflows.
At the start of 2021, the cryptocurrency industry was bursting with news of increased institutional investment, and this is still largely true. Despite reports suggesting increased outflows from institutional investors, net inflows are still very much positive.
Additionally, though Bitcoin (BTC) appears to be the investment of choice for liquidations, institutional investment into Ethereum (ETH) has never been healthier.
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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:
Ethereum Outpacing Bitcoin to New Record High, According to CryptoQuant CEO
https://cointelegraph.com/news/institutions-appear-bullish-on-crypto-despite-record-bitcoin-outflows
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PayPal Expands Cryptocurrency Services for Business Accounts
PayPal has announced a significant update for its business account holders in the U.S., enabling them to buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This expansion aims to provide businesses with the same cryptocurrency capabilities that have been available to individual consumers since 2020. Business owners can now engage with digital currencies, enhancing their payment flexibility.
Additionally, PayPal business accounts can transfer supported cryptocurrencies to external blockchain addresses. However, this feature is currently not available in New York State.
This move is part of PayPal’s broader strategy to increase the utility of cryptocurrencies for its users. In previous years, PayPal introduced features such as the ability to buy, hold, and sell digital currencies for personal accounts, and even launched a U.S. dollar-backed stablecoin called PayPal USD (PYUSD). The company has been steadily expanding its crypto services, aiming to integrate digital assets into mainstream business operations and offer a wider array of financial tools to its users.
With this update, PayPal aims to meet the growing demand from business owners to incorporate cryptocurrency into their financial strategies, providing them with a seamless way to transact and manage digital assets.
This development marks a pivotal moment for PayPal’s role in the adoption of cryptocurrencies in everyday business activities, potentially paving the way for broader acceptance of digital currencies in commercial transactions.
