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Bitcoin marking a new all-time high of $67,000 last week has opened the possibility of a $135,000 â $450,000 BTC price by the end of this year, according to Plan B, creator of the popular Bitcoin Stock-to-Flow (S2F) model.
Plan B recently called Bitcoinâs price retracement from the $60,000-level the â2nd legâ of what appeared like a long-term bull market.
Despite the high Bitcoin price projections, BTC can still see big corrections in the future. Plan B thinks the next crash could wipe at least 80% off Bitcoinâs market capitalization, based on the same S2F model.
In other trending Bitcoin News today: The FDIC Chairman just stated that regulators are looking at how US banks could hold bitcoin.
Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation, or FDIC, has said the agency is working with other regulators in the United States to explore âunder what circumstances banks can engage in activities involving crypto assets.â
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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:
https://cointelegraph.com/news/bitcoin-bull-market-2nd-leg-has-started-says-btc-price-model-creator
https://cointelegraph.com/news/bitcoin-drops-1k-in-five-minutes-in-fresh-dip-below-60k
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XRP Gains 11% Weekly Amid Breakout Anticipation
XRP, the native cryptocurrency of the XRP Ledger, has recently experienced a significant surge in value, gaining 11% over the past week. This impressive growth has positioned XRP as one of the top-performing digital assets in the market, with its price rising from $0.523 to $0.584 in a week. The increase in value has been accompanied by a substantial rise in trading volume, indicating strong investor interest and activity.
Several factors have contributed to this rapid growth. One of the key drivers is the anticipation of a major breakout in XRP’s price history. Market analysts and investors are closely watching XRP, expecting it to surpass key resistance levels and achieve new highs. This optimism is fueled by positive developments in Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which has seen favorable rulings for Ripple in recent months.
Ripple is the company behind the XRP Ledger, a decentralized blockchain technology that facilitates fast and cost-effective cross-border transactions. The XRP Ledger’s unique features, such as its ability to settle transactions in less than five seconds and at a fraction of the cost of traditional methods, continue to attract both institutional and retail investors. These technological advancements and strategic partnerships with various financial institutions further solidify XRP’s position in the market.
As a result, XRP remains a prominent player in the cryptocurrency space, with its recent performance underscoring its potential for future growth. With ongoing legal developments and strategic initiatives, XRP’s trajectory appears promising, making it a cryptocurrency to watch in the coming months. Investors are eagerly awaiting the next moves in the market, hoping to capitalize on XRP’s potential for further gains.
