Bitcoin has recovered from its flash crash this week and the famous valuation model predicts that BTC will double by the end of the year.
The popular stock-to-flow model developed by PlanB has so far been pretty accurate in predicting Bitcoin prices.
As you know, the S2F model predicts an average of about $ 100,000 for this halving cycle (white line). I’ve downgraded that to $ 100,000 Dec 2021 close because to get an average of $ 100,000 we should be above that average by the middle of the cycle. My floor model (not S2F) is forecasting a close of $ 135,000 in December: roughly in line with the S2F model. pic.twitter.com/Oel7HmsmPr
– PlanB (@ 100 trillion USD) November 11, 2021
The analyst claims the mid-cycle average will be $ 100,000 per BTC region. Each halving is followed by cycles, the last in May 2020 and the next in May 2024.
He added that the current price of BTC should be above this average, and his minimum price model predicts that BTC will hit $ 135,000 by the end of the year, which is in line with the S2F model.
Bitcoin is the lowest risk asset that investors can buy.
Michael Saylor, CEO of MicroStrategy, tells investors that buying Bitcoin (BTC) is better than investing their money in traditional assets like stocks, bonds, and gold.
in a meeting interview Recently, Saylor and John Darsie, Business Development Manager at the investment firm SkyBridge, compared Bitcoin to other asset classes over the past 10 years.
Over the course of a decade, Bitcoin grew 170% year over year, he said. Nasdaq is up 19% year over year and the S&P is up 14% year over year. Meanwhile, gold is down 6 basis points a year.
Saylor said that despite the volatility, BTC offers the highest return and lowest risk of any asset class. If investors can accept Bitcoin’s volatility and innovation, they will get 10x the return.
Saylor said BTC was recognized as a “digital asset” despite concerns about government and regulatory bans, noting that its volatility can even send a favorable signal to investors looking to buy assets at low prices.
According to the Ethereum blockchain browser, the Ethereum Foundation has transferred Ethereum worth nearly $ 100 million to a central exchange, Kraken.
According to Etherscan’s trading website, it was recorded on the afternoon of November 11th when Ethereum was trading around $ 4,810.
The transaction itself is not uncommon as the Ethereum Foundation is constantly selling its cryptocurrency for fiat to help run the organization. However, the main concern of the majority of users is when the platform has chosen.
Ethereum Foundation moves large amount of ETH | Source: Etherscan
According to Ethereum’s market history and on-chain data, the platform tends to sell 3-5% of its stocks near the high. The platform’s sales volume doesn’t even reach 0.1% of the daily trading volume of Ethereum; Therefore, it cannot directly affect the price.
Sotheby’s accepts Ethereum bids in real time.
Renowned auction house Sotheby’s notification they will accept real-time bids from Ethereum (ETH) for the November 18th auction, which features works by popular street artist Banksy.
Sotheby’s claims it will be the first time the auction house will accept real-time cryptocurrency as the default currency for payment in an art auction. The auction is called ‘The Now Evening Auction’.
While the bid price is being announced at the ETH, the winners have the option of paying for the works in Ether, Bitcoin (BTC) or USD Coin (USDC).
Binance.US CEO Brian Shroder published this surprising tweet tonight.
Accordingly, Binance.US will support the Songbird Airdrop for its users because it is the right thing. However, details of the distribution are not yet known.
To the #Singbird #SGB community: I promise to be the customer first. I heard you and I agree. I reverse the decision of my predecessors: https://t.co/Wc26vM6jnW will support the Songbird $ SGB Airdrop to our users because it’s the RIGHT thing.
– Brian Shroder (@BrianShroder) November 11, 2021
News Shiba Inu
On Friday, the CoinDCX cryptocurrency exchange announced that it will be listing the Shiba Inu (SHIB) cryptocurrency in its merchant-friendly CoinDCX Go app, making it their newest trading platform.
Previously, SHIB was available on the platform in trading mode for professional investors from CoinDCX Pro.
– CoinDCX: Making crypto accessible to Indians (@CoinDCX) November 11, 2021
Whales continuously accumulate SHIB.
The recent withdrawal of the Shiba Inu memetoken may have raised concerns in the community, but the whale appears to be doing so indifferent about recent price movements in the market.
The average purchase amount from whale-level addresses is $ 1 million. The average number of tokens bought is 20 billion. From October 28th, Whale will continuously add more SHIB tokens after each halving.
According to a tweet posted by CEO Jason Citron, popular group chat platform Discord has apparently put plans to integrate Ethereum on hold.
Citron said the company has no plans to add any new options, adding that it is focused on keeping users safe from fraud and spam.
Thanks to everyone for the prospects. We currently have no plans to deliver this internal concept. For now, our focus is on protecting users from spam, scams, and scams. Web3 has many good, but also many problems that we have to solve on our scale. More soon.
– Jason Citron (@jasoncitron) November 11, 2021
Previously, he teased the crypto community and shared screenshots of the new feature that appears to allow users to connect to MetaMask and WalletConnect.
It did so after Discord sent users a poll on NFT to get their opinions.
Solana extended a 5 day correction and lost 13% of its value against the ATH at 260. With the MACD and RSI likely still in the red, SOL could revert to the 50% Fibonacci level in the short term.
Once the Bollinger Bands and RSI hit the oversold zone, the bulls are likely to reverse before SOL marks a defense below the $ 218.3 zone.
SOL price table | Source: TradingView
Given the bearish crossover between the 50-SMA (yellow) and the 20-SMA (red), the SOL could fall below the 38.2% Fibonacci level as sellers continue to dominate. If the double bottom at $ 220 does not push the SOL back up, the price will see another 5% sell-off, below the 50% Fibonacci level.
Alternatively, the Fibonacci levels of 61.8% and 78.6% can also help create a bullish reversal. The first support coincides with the 50 SMA (not shown) while the second support coincides with the 200 SMA (green). In the event that sellers can pull price below this defense, the SOL downtrend may extend to the September lows of $ 124.15 or even $ 115.88.
Orakuru introduces the Orakuru Foundation. Accordingly, the current development will continue together with the DAO structure, leading projects in the industry will be incubated and the new L1 will be conquered. This is considered to be the largest event for ORK owners.
⚠️ The biggest update for $ ORK Holder ️
1/4 Orakuru introduces the Orakuru Foundation, under the framework of which current Oracle development continues along with DAO structuring, the incubation of industry leading projects and new L1 conquests 🔮
Required reading >>https://t.co/x857loM6TD
– Oracle | (@Orakuru_ork) November 8, 2021
News Hedera Hashgraph
The HBAR Foundation continues to grow the Hedera Hashgraph (HBAR) ecosystem by providing grants and other resources to developers, startups and DeFi organizations, as well as NFTs.
After spending more than $ 4 billion on expanding the ecosystem, Hedera Hashgraph (HBAR) quickly implemented a strategy to get into the DeFi space and announced a partnership with Akt.io with the goal of making Akt To make .io the first DeFi application on the blockchain.
– HBAR Foundation (@HBAR_foundation) November 11, 2021
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