TIM DRAPER, BOBBY LEE, and TOM LEE: 3 Reasons To Be Bullish On Bitcoin | BTC News Today

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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/288k-by-december-bitcoin-will-not-stop-at-100k-says-stock-to-flow-creator

https://www.forbes.com/sites/ninabambysheva/2021/03/18/bny-mellon-joins-133-million-in-series-c-in-bitcoin-custodian-fireblocks/?sh=ec0c6a334285&utm_source=TWITTER&utm_medium=social&utm_content=4600043182&utm_campaign=sprinklrForbesCrypto

https://cointelegraph.com/news/asia-s-microstrategy-meitu-drops-another-50m-on-eth-and-btc

https://cointelegraph.com/news/60k-bitcoin-price-back-in-sight-after-morgan-stanley-and-fed-announcements

https://cointelegraph.com/news/morgan-stanley-introduces-bitcoin-investing-for-millionaire-clients

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Popular Crypto analyst, Kraken and Bitcoin Magazine editor, Pete Rizzo called BTC cycle price tops “psychological attacks on Bitcoiners” and predicts Bitcoin to hit $500K this year.

“If Bitcoin wants to create a top, it going to have to convince some of the never-sell-Bitcoin bulls to give up some Bitcoin,” he said.

“I’m confident in the Bitcoin technology’s ability to coax sellers back to the market, and the price at which it does so will likely be higher than we can posit currently because it’s an attack on us.”

Rizzo casually mentioned now-commonplace figures ranging from $300,000 to $500,000 — “high enough to really wow.”

In other trending Bitcoin News today: Ethereum hits new ATH after Altair upgrade shows clear path to the merge.

The price of Ether (ETH) has bounced to a new all-time high (ATH) on Friday as it hit $4,400.97 at around 1:02 am UTC, according to the ETH/USD price indexes on Coinbase and CoinMarketCap.

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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-hodlers-only-halfway-to-selling-btc-after-new-500k-price-prediction

https://cointelegraph.com/news/ethereum-hits-new-ath-after-altair-upgrade-shows-clear-path-to-the-merge

https://cointelegraph.com/news/biggest-bitcoin-fund-in-the-world-could-become-etf-by-july-as-gbtc-nears-40-billion-aum

Bitcoin Attempts Fresh Increase, Why BTC Could Struggle Near $62K