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Institutional investor and creator of the Bitcoin Stock-to-Flow valuation model known as PlanB, for fun did some BTC price modeling with central bank balance sheets which implies a $20,000,000 Bitcoin price.
The pseudonymous trader tweeted,
“Modeling bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M”
Rich Dad Author Robert Kiyosaki added his sentiment regarding the out of control money printing by the Fed…
“WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.”
In other trending Bitcoin News today:
3 Key Metrics Show Bulls Control Bitcoin Price Despite $12K Resistance
Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure.
This holds especially true when considering that the $12,500 level hasn’t been touched in over 13 months.
Currently, analysts are making $16,000 price targets partially due to a CME gap and the expectation that U.S. inflation will rise higher.
While short-term traders confabulate whether the Aug. 28 CME futures and options expiry caused the dip seen in the past few days, on-chain data reveals holders have become more robust than ever.
63% of UTXOs haven’t been touched for over a year, something without precedent.
These holders faced a 53% dip over the thirty days leading into March 13, but even the Black Thursday crash did not entice them to move their BTC.
And in other trending Cryptocurrency news:
DEFI TOKEN YFI PEAKS AT $38,682, MORE THAN 3X PRICE OF BITCOIN
Yearn Finance and the project’s native token YFI has jumped significantly in value.
Last week, YFI made headlines for outpacing bitcoin (BTC) by price per coin, as the YFI token value spiked to $16k on August 20.
On Friday, YFI was averaging around $17-18k per coin, and the value leaped even higher during Saturday afternoon’s (ET) trading sessions.
According to market data, YFI touched an all-time high of over $38,000 on August 29. Presently, the value is hovering around $30,000.
This week, an individual on Twitter, asked the Yearn Finance founder why he was talking with the FTX exchange CEO Sam Bankman-Fried.
Andre Cronje did not detail what Yearn Finance and FTX were collaborating on, but he did confirm that some kind of partnership was in place.
“Guess the cat is out of the bag,” Cronje tweeted. “But just so that there is some expectation management, this is a long roadmap that we are working on, so it won’t be anything anytime soon. But there will be something very sexy in the future.”
In addition to the FTX topic, the defi token YFI was also recently listed on the lending platform Aave this week. Aave has also been making headlines in recent days for its total value locked (TVL), and the project’s electronic money license granted by the UK’s Financial Conduct Authority (FCA).
Yearn Finance has also revealed a new insurance primitive this week called “yinsure.finance.”
The Yearn development team published an article about the yinsure.finance subject which states:
We will systematically be releasing yinsure.finance, a prototype for a new kind of tokenized insurance.
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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.