PAYPAL’S U.K. CUSTOMERS CAN NOW BUY, SELL, AND HODL BITCOIN!!!! ETHEREUM EYES $6.5K TARGET!!!!

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The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.

A recent report from Fidelity Digital Assets analyzes the BTC stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.

Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that the BTC price will soar to $1 million by 2029.

Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets.

The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.

“Commodities with a stock that is difficult to double due to a low rate of production relative to existing supply have historically served as superior stores of value.

Such commodities are largely used for investment purposes, and occasionally industrial uses.

On the other hand, consumable commodities that are susceptible to large increases in supply, are less effective in storing value.

In the Bitcoin Standard, Saifedean Ammous adapted stock-to-flow to compare bitcoin to commodities used for investment and consumption and the use of the metric has since expanded and even given rise to models based on the ratio.

Gold, the most resilient store of value through the ages, has the highest stock-to-flow ratio, followed by Bitcoin (today) and silver.

Following the recent halving (May 2020), the gap between the gold and Bitcoin ratio compressed.

Bitcoin’s stock-to-flow will eclipse that of gold following the next halving (2024).”

Grayscale echoes Fidelity’s assessment that commodities with high S2F ratios are typically sought after by investors.

The investment giant looks at Bitcoin to illustrate the positive correlation between an asset’s price and its S2F ratio.

“Commodities with high stock-to-flow ratios such as Bitcoin, gold, and silver have historically been utilized as stores of value.”

However, Grayscale cautions that the S2F price model does not guarantee an increase in the asset’s value.

“While it’s true that price has followed this stock-to-flow model with high correlation, the relationship may be spurious and does not take into account the requisite demand for price appreciation.”

In other trending Bitcoin News today:

BLOOMBERG PREDICTS GOLD AT $3K, BITCOIN AT $20K IN CURRENT BULL RUN!

A bullish comment on gold by a top Bloomberg Intelligence analyst could leave Bitcoin in a similar upside spell.

“Central banks essentially printing money to spur inflation is a solid foundation for the benchmark store of value,” McGlone said.

“Gold bottomed at about $700 in 2008 and peaked near $1,900 in 2011. A similar-velocity 2.7x advance from this year’s low-close near $1,470 would approach $4,000 by 2023.”

The analyst said in its June update that the cryptocurrency could hit $20,000 by the end of this year, citing increasingly favorable fundamental and technical factors.

They included its maturity as an asset, followed by its rising futures open interest and more buy-and-hold strategy among institutional investors.

“Bitcoin ended 2019 at about $7,000, near the bottom of its range, favoring a shift toward the peak. Last year, the high was about $14,000, which would translate into almost double in 2020 if rotating within the recent band,” Mr. McGlone explained.

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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:

#Bitcoin Asymmetric ReturnLast 10 years (2011-2020):– 2 years negative return (2014, 2018)– 3 years [+25% -> +100%] return (2015, 2019, 2020)

– 5 years >100% return (of which 3 yrs >1000% return!) pic.twitter.com/WFatEzbG5Z

— PlanB (@100trillionUSD) August 26, 2020

The Fed, under the leadership of Jerome Powell, continues to be #Bitcoin‘s biggest booster. On Thursday, he will deliver a speech about how the Fed will begin targeting higher inflation. 🧙‍♂️🙏🚀https://t.co/MUXB2MRTp3

— Tyler Winklevoss (@tylerwinklevoss) August 25, 2020

Bloomberg Predicts Gold at $3K, Bitcoin at $20K in Current Bull Run

https://cointelegraph.com/news/tyler-winklevoss-says-us-fed-is-the-biggest-booster-of-bitcoin-price

https://dailyhodl.com/2020/08/25/asset-giant-fidelity-analyzes-model-that-forecasts-bitcoin-rise-to-1000000/

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The average value of Bitcoin transactions has increased dramatically since July this year. 

The average BTC transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.

The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours.

This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017.

The $151,000 average value is 190 times more than Ethereum’s average transaction value of $793, suggesting a significantly greater institutional presence in the Bitcoin markets.

However, the number of daily Ethereum transactions increased by 30% amid the DeFi boom in August, reaching a 2-year high of 1.29 million on Aug 10.

Over the same period, Bitcoin transactions consistently hovered between 300k and 350k, suggesting the Ethereum ecosystem was the primary magnet for new crypto users.

The number of Bitcoin active addresses also showed no significant changes, fluctuating between 650k and 970K over the last 4 months.

Accumulation figures show that institutional investors are starting to take notice as large investment firms, like Grayscale and Microstrategy, increased their accumulation of large amounts of Bitcoin and other cryptocurrencies over the last few months.

By the end of September, Grayscale controlled at least 449,900 BTC or 2.4% of the current supply of Bitcoin, and Microstrategy owned 38,250 BTC.

Two weeks later, Jack Dorsey’s Square purchased 4,709 BTC (approximately $50 million) in Bitcoin.

In other trending Bitcoin News today:

“PayPal To Offer Crypto Payments Starting In 2021”

PayPal announced on Wednesday its entry into the cryptocurrency market, according to multiple reports.

PayPal customers will be able to use cryptocurrencies to shop at any merchant in its large network starting from early 2021, the company said.

The payments will be settled through fiat currencies, similar to many existing crypto merchant solutions like BitPay.

This means that the merchants will be receiving fiat, as PayPal will take care of the conversion. 

The coins initially supported will include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the company said.

The payments giant partnered with Paxos to deliver the service, and it obtained a conditional cryptocurrency license from the New York State Department of Financial Services, commonly known as the BitLicense.

In addition to cryptocurrency payments, PayPal users will also be able to purchase crypto directly through the app.

PayPal will thus feature a cryptocurrency wallet, letting users buy, sell and hold crypto via the PayPal apps.

PayPal is one of the largest global payment providers, with 346 million active accounts and $222 billion in volume processed in Q2 2020.

It was one of the initial founding members of the Libra association, though it subsequently dropped out after regulatory pressure mounted for the project.

Rumors of a planned crypto integration surfaced earlier this year.

The company is nevertheless often criticized in crypto circles due to perceived unfair practices and the amount of control it has within its own network.

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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:

Finally!PayPal joins the bitcoin space race.+ 346 million users+ 26 million merchants + 20th largest “bank” by deposits

Between them, Square, and Grayscale, it’s safe to assume that all remaining BTC will be hoovered up by public companies. https://t.co/d3oEk0LLgv

— Ryan Selkis (@twobitidiot) October 21, 2020

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idUSL1N2HB14U

https://cointelegraph.com/news/bitcoin-average-transaction-value-increases-500-since-july

https://cointelegraph.com/news/paypal-to-offer-crypto-payments-starting-in-2021

https://cointelegraph.com/news/bitcoin-price-rally-to-12k-is-meaningless-until-bulls-flip-it-to-support

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

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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🔥 [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:

Friday Fun: 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💥💥💥 pic.twitter.com/WPS8Ft9B2r

— PlanB (@100trillionUSD) August 28, 2020

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.

— therealkiyosaki (@theRealKiyosaki) August 29, 2020

https://news.bitcoin.com/defi-project-yearn-finance-smashes-records-as-native-token-surpasses-30k/

https://cointelegraph.com/news/3-key-metrics-show-bulls-control-bitcoin-price-despite-12k-resistance