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Renowned quantitative analyst PlanB is revealing what he thinks the end of this year will bring for Bitcoin, and how much longer the current crypto bull market can last.
The top end of PlanB’s S2FX model pins $288,000 for BTC at the peak of this cycle. However, the analyst suggests that a brief shot above that target before finally correcting is not impossible.
“I guess we will be above $100,000 [or] above $135,000 at the end of the year, and we’ll continue to grow maybe towards the S2FX model targets, $288,000 or even above. I would not be surprised even to see in Q1 or Q2 next year, prices of $300,000, $400,000, $500,000…”
In other trending Bitcoin News today: Bitcoin Supply Shortage Setting the Stage for Higher Prices, According to Crypto Analyst Nicholas Merten!
Popular crypto analyst Nicholas Merten of DataDash is looking at one key metric to explain what’s fueling Bitcoin’s bull run towards new all-time highs.
“So we’re in October. We were hoping by the end of this year that we would see a rise back up to previous all-time highs of 65k, and then set the stage to continue climbing higher and make new all-time highs in price, and eventually charter towards six-digit territory at 100k, and with our most euphoric estimate being $200,000 in this cycle.
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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.
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MAX KEISER SAYS BITCOIN WILL HIT $220K IN 2021 IF HYPERINFLATION COLLAPSES FIAT!! $100K BTC JUNE?!!
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Bitcoin pioneer Max Keiser, RT host of the Keiser Report and Orange Pill podcast says “Bitcoin price is signaling fiat money around the world is in a hyperinflationary collapse against BTC. Please keep boosting inflation so my 2021 target of $220,000 comes sooner!”
Regarding the Bitcoin bulls short term BTC price target, Max tweeted…
“$77,000 short term in play bitcoin”
Currency instability and hyperinflation seemed unreal until a global pandemic struck, sending many nations into economic turmoil. Most economists began to wonder if the end of the pandemic would mean the birth of another Venezuela, which is currently facing a 438% (hyper) inflation rate.
However, like several other Bitcoin enthusiasts, podcaster, Max Keiser thinks inflation and the price of Bitcoin are correlated. Where fiat holders lose out, Kaiser thinks Bitcoiners will gain from the phenomenon. In a tweet, Keiser said that Bitcoin will surge in price, possibly to the $222,000 mark, within this year itself due to inflation.
Keiser’s opinion probably stems from the fact that companies and retailers look to the crypto as a store of value asset, making it a perfect hedge against inflation. Recently, experts even argued that since Bitcoin is immune to political shocks, more people will prefer the asset to decouple trade from “global events.”
Even though the price of Bitcoin may indeed surge, its path to the target could be volatile. In the past, the asset’s price has appreciated and even collapsed several times. But some stated that even as Bitcoin increased in price, the rate of inflation, and forecasts for inflation, “remained stable.”
Some provide a contrary opinion that economies need a bit more inflation, not less. At the same time, they do not expect hyperinflation to occur again, after the last great recession.
Bitcoin’s finite supply, which may overcome inflation risks is what comforts many. However, this narrative keeps evolving as well. A case can be made for alts such as Ether to be a potential deflationary asset too. For instance, even without a hard supply cap, Ethereum could have a fee-burning feature that reduces its coins from circulation, allowing it to be another potential hedge, like Bitcoin.
In other trending Bitcoin News today:
Top Trader Says Five Altcoins Primed To Erupt As Bitcoin Sets the Stage for Explosion to $100,000
A closely-followed crypto trader who built his reputation after nailing the 2020 crash in Bitcoin says he’s looking at five altcoins that can potentially explode this month while Bitcoin undergoes a pullback.
The last coin Capo’s eyeing is Ethereum (ETH). Capo believes that the leading smart contract platform is brewing a bullish move against Bitcoin (ETH/BTC).
As for Bitcoin, the crypto strategist believes it will revisit support below $50,000 before resuming its ascent and climbing above $100,000 by June. Capo makes his prediction based on Bitcoin’s performance in March 2017.
“BTC possibility.”
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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.
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#Bitcoin price is signaling fiat money around the world is in a hyperinflationary collapse against Bitcoin. Please keep boosting inflation so my 2021 target of $220,000 comes sooner! 👍😎 https://t.co/NTqMmiH9YQ
— Max Keiser (@maxkeiser) March 15, 2021
December close: $28,992January close: $33,141February close: $45,240March 17 price: $55,000
We are only 3.5 months into the #bitcoin bull market. IMO BTC will not stop at $100K and will continue to S2FX $288K average price level (ATH will be higher). pic.twitter.com/skS6a7pepu
— PlanB (@100trillionUSD) March 17, 2021
https://cointelegraph.com/news/bitcoin-s-price-doubled-in-75-days-how-long-until-the-next-100-leg-up
Post Views: 167 -
$288K BY DECEMBER?! BITCOIN ‘WILL NOT STOP’ AT $100K!! MORGAN STANLEY AND BNY MELLON EMBRACE BTC!!
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Bitcoin (BTC) has plenty of room to grow in its current bull run and “will not stop” at $100,000, according to analysts including PlanB who predicts that the peak of this cycle could be double those figures or even more – potentially in excess of $576,000.
In various posts on social media on Wednesday, the stock-to-flow Bitcoin price model creator joined others in predicting huge new all-time highs for BTC/USD.
With Bitcoin trading sideways below both its recent peaks of $58,300 and $61,700, investors are curious about where the 2021 bull run may end.
As Cointelegraph reported, depending on the price indicator used, the peak could be uncomfortably near or still far off. For followers of stock-to-flow, the answer remains firmly the latter: Compared with previous bull cycles, 2021 is just getting started.
“We are only 3.5 months into the Bitcoin bull market,” PlanB summarized.
“IMO BTC will not stop at $100K and will continue to S2FX $288K average price level (ATH will be higher).”
He referenced both his stock-to-flow, or S2F, and stock-to-flow cross-asset, or S2FX, models, which give an average BTC/USD price forecast of $100,000 and $288,000 during the current halving cycle, set to end in 2024.
This is just the average, however, and PlanB believes that the peak of this cycle could be double those figures or even more — potentially in excess of $576,000.
Currently, Bitcoin is following the stock-to-flow trajectory almost to the letter — “like clockwork,” as PlanB described it — and has yet to give off signs that the cycle top is approaching.
As fellow analyst Rekt Capital noted, such signs tend to come in the form of BTC/USD jumping above the planned trajectory.
“Upside price deviations from the Stock to Flow line tend to precede Bull Market tops for BTC,” the Twitter account wrote.
“At the moment, $BTC is perfectly follow the Stock to Flow line. But Bitcoin hasn’t deviated from it — yet.”
Despite the stock-to-flow model not existing during the top of Bitcoin’s first halving cycle price peak in 2011, it achieved a trajectory deviation equal to 1,157%.
In other breaking Bitcoin News today:
Morgan Stanley Introduces Bitcoin Investing For Millionaire Clients
Institutional banking powerhouse Morgan Stanley seems to have given Bitcoin its nod of approval. Based on fresh intel via an “internal memo”, as reported on by CNBC, Morgan Stanley will give clients access to Bitcoin (BTC) investing, though only under specific conditions.
“The investment bank, a giant in wealth management with $4 trillion in client assets, told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter,” CNBC reported on Wednesday. The opportunity is expected to open in April, according to the sources.
Bitcoin interest from mainstream finance has risen significantly over the past year or so, with players such as MicroStrategy, Tesla, and Square buying large stacks of BTC.
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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:
December close: $28,992January close: $33,141February close: $45,240March 17 price: $55,000
We are only 3.5 months into the #bitcoin bull market. IMO BTC will not stop at $100K and will continue to S2FX $288K average price level (ATH will be higher). pic.twitter.com/skS6a7pepu
— PlanB (@100trillionUSD) March 17, 2021
The oldest bank in America, Bank of New York Mellon, just invested in the #Bitcoin custodian company, Fireblocks!
BNY Mellon is one of the world’s largest custody banks, and they plan to hold, transfer, and buy #bitcoin for their asset management clients!
— Documenting Bitcoin 📄 (@DocumentingBTC) March 18, 2021
https://cointelegraph.com/news/asia-s-microstrategy-meitu-drops-another-50m-on-eth-and-btc
https://cointelegraph.com/news/morgan-stanley-introduces-bitcoin-investing-for-millionaire-clients
Post Views: 202 -
MACRO STRATEGIST RAOUL PAL SHARES POTENTIAL #post_titleM BITCOIN (BTC) TARGET!! DEFI ASSET YFI RECLAIMS K!
➡️ REPLAY – Teeka Tiwari’s ‘Set For Life’ Summit: Register here: http://teeka.cryptonewsalerts.net
Global Macro Investor founder and chief executive Raoul Pal is betting big on Bitcoin.
Pal is offering an update on his BTC portfolio and declares more than half is now dedicated exclusively to Bitcoin.
In May, Pal said Bitcoin appears to be entering one of the best technical setups of all time and could be on a long-term trajectory to $1 million.
“Bitcoin Porn and The Perfect Set Up… BTC Chart 1 – The Perfect Wedge. If you use classic charting techniques, it gives you a price target of around $40,000…but
Chart 2 – The Perfect Wedge on a Log Chart Well, that gives you a price object for this run potentially (key word – potentially) of $1m.
Chart 3 – The Perfect Regression Channel That gives a 1 standard deviation move to $400,000 and a 2 standard potential to $1m (potential).”
Pal is also publicly pondering just how far he should go in his wager that Bitcoin will be one of the most lucrative assets of the next decade.
“Is it possible to get irresponsibly longer or is irresponsibly long the max? Asking for a friend… Bitcoin.”
The high-profile investor says his portfolio allocation is high risk and not something everyone should pursue.
“We are all 100% aware of the downside risk in a 60 vol asset… this is not a trade for a great grandmother.”
The Global Macro Investor executive says he’s accepted the possibility that Bitcoin might plummet all the way down to zero.
To further clarify his apparently BTC allocation, Pal explains that there’s a method behind the madness.
“I just want to be clear, with regards to being irresponsibly long bitcoin: I don’t use leverage. I fully expect to have to deal with a 50% drawdown and, I’m ok with it. I look at my allocation versus liquid assets and not my house etc. I am lucky have an income stream, which is key.”
In other trending Bitcoin News Today:
Yearn Finance’s YFI Reclaims $40K after Coinbase Listing
Yearn Finance’s governance token, YFI, closed above $40,000 during the early trading session on Monday. The YFI/USD exchange rate established an intraday high at circa $42,425 following a 13.74 percent rally.
The strong upside move appeared despite a lackluster bullish trend elsewhere, with top cryptocurrencies Bitcoin and Ethereum trading under the weight of sellers.
YFI too experienced a sell-off near its session top.
Traders booked their intraday profits, causing the cryptocurrency to plunge lower by 8.50 percent during the European session.
Nevertheless, a support level lurking around $38,990 protected the price from falling anywhere lower.
YFI/USD reclaimed some of its intraday profits after establishing its session support level.
A continuation in uptrend expects to lead the pair towards its all-time high near $44,003, with a primary bullish target lurking near $50,311.
The latest winning round the Yearn Finance market followed YFI’s listing on Coinbase Pro.
The US-based crypto exchange announced earlier today that it is now allowing traders to deposit their YFI tokens into its platform.
From Tuesday, trading of the DeFi cryptocurrency will commence.
Excerpts from their announcement:
“Once a sufficient supply of YFI is established on the platform, trading on our YFI-USD order book will launch in four phases, transfer-only, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”
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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:
Chart 2 – The Perfect Wedge on a Log Chart
Well, that gives you a price object for this run potentially (key word – potentially) of $1m. pic.twitter.com/ZDJXsrbbVN
— Raoul Pal (@RaoulGMI) May 8, 2020
Chart 3 – The Perfect Regression Channel
That gives a 1 standard deviation move to $400,000 and a 2 standard potential to $1m (potential). pic.twitter.com/YV1SUOKWjn
— Raoul Pal (@RaoulGMI) May 8, 2020
S2F version 1 update. This is the 2019 time series model on historical BTC data only (no gold, silver, diamonds, real estate data used). You see the jump in model value at the halving (white line) and corresponding drop in S2F multiple / model error (white dots). Time to go up. pic.twitter.com/qIjiXfbmCx
— PlanB (@100trillionUSD) September 14, 2020
Post Views: 139