Cardano to Reach $58 by 2030 According to Finder’s Poll

February 19, 2022 Bitcoin.com

‘Powder keg’: FSInsight report says a single spark could see BTC 5X

February 9, 2022 Coin Telegraph

The outlook report forecasts lofty price predictions for the two largest coins by market cap by the end of 2022 based on a series of key metrics.

Financial research firm FSInsight predicts in a new report that Bitcoin could reach $222,000, and Ether could reach $12,000, by the end of 2022.

At current prices of BTC ($43,350) and ETH ($3,080), that would mean a nearly five-time and four-time increase in price for each coin respectively.

The Digital Assets In A Post-Cycle World report explained several factors that are likely to combine to drive prices to those heights by the end of the year. Compared to other cycles, it would appear that BTC has not achieved what the report calls “overly frothy valuations.” This could be attributed to better efficiency in the market, or a transition from a payment solution to a store-of-value.

The lack of bubble-like prices is shown by the fact that since the May 2020 Bitcoin halving, BTC market cap peaked at an increase of just 3.7x. This is the lowest increase since the 2016 halving, when the market cap peaked at an increase of 4.2x.

The halving is when the mining reward issued per block is reduced by half, reducing the new supply coming onto the market. The 2020 halving saw block rewards go down to 6.25 BTC per block.

Supply-side dynamics are also seen as a bullish signal by FSInsight. Illiquid supply of BTC — Bitcoin which has found a long term home in storage — comprises about 75% of the circulating supply. The report states:

“The current supply dynamics can best be described as a powder keg. The question remains who lights the match.”

This observation tallies neatly with the Feb 7 video from the InvestAnswers Youtube channel. Host James Mullarney said that due to the current lack of sellers, a “buy between 100,000 and 200,000 Bitcoin within the space of one or two weeks” could send the price up 3X.

The FSInsight report also noted that market value to realized value (MVRV) of BTC is at the lowest level since April 2020, when price was still below $10,000. From that point, BTC price climbed steadily up over the next year to a high of about $57,000 in May 2021.

Ultimately, the report forecasts BTC price to reach a range of $138,000 to $222,000 by the end of 2022.

The case for ETH

The bullish forecast for ETH began by showing how Ethereum generated nearly $10 billion in fees in 2021. According to the report, that is a 1,564% annual growth rate from 2020.

ETH saw a 1,564% annual growth rate in 2021 from 2020, according to FSInsight.

The ETH supply-side dynamics also spell bullish signals for the analysts, which noted that the burn mechanism from th implementation of EIP 1559 creates “disinflationary pressure,” but added:

“While we do not necessarily believe this to make ETH 'sound' money, it is certainly beneficial for price.”

FSInsight analysts conclude that ETH is “remarkably undervalued.” Analysts factored in The Merge, when Ethereum is scheduled to transition to Proof-of-Stake consensus, Layer 2 platform development, and the potential launch of Exchange Traded Funds (ETFs), to forecast a price of $12,000 by the end of 2022.

Microstrategy CEO Foresees Bitcoin’s Price Reaching $6 Million

December 23, 2021 Bitcoin.com

Bitwise CIO Says $100K Bitcoin a Difficult Prediction to Make, Calls Ethereum the ‘Asset of the Year’

December 7, 2021 Bitcoin.com

Bitcoin fails ‘worst-case scenario’ monthly close for the first time, starts December sub-$57K

December 1, 2021 Coin Telegraph

Bitcoin

PlanB’s floor model misses its target in a historic first as fresh bear pressure mounts for Bitcoin price action.

Bitcoin (BTC) has failed to hit the November closing price demanded by one of its best-known models — but its creator is not giving up.

In a Twitter post on Dec. 1, PlanB said that he would give his floor model one more month to prove itself.

BTC floor model on probation

BTC/USD should have rounded out November in a “worst-case scenario” of $98,000, but a combination of factors conspired to produce a much lower monthly close.

At close to $57,000, the pair firmly missed its target, this translating to the first such failure of PlanB’s floor model in Bitcoin’s history.

“Floor model first miss (after nailing Aug,Sep,Oct),” he wrote.

“No model is perfect, but this is a big miss and the first in 10y! Outlier/black swan? I will give Floor model 1 more month.”

$98K❌

Floor model first miss (after nailing Aug,Sep,Oct). No model is perfect, but this is a big miss and the first in 10y! Outlier/black swan? I will give Floor model 1 more month.

S2F model unaffected and on track to $100K.
Watch out for trolls confusing Floor and S2F model! https://t.co/tj6SSwSzKR
— PlanB (@100trillionUSD) December 1, 2021

Most recently, the floor model correctly predicted the monthly closes for August, September and October, adding to hopes that six figures could enter in December.

As more traders and analysts accept the fact that the 2021 bull market may take longer than anticipated to reach its peak, PlanB reiterated that his other BTC price forecasting models remain intact.

Among them are the popular stock-to-flow-based tools, these calling for at least $100,000 as an average price between now and 2024. The expectation is still that Bitcoin will attract a six-figure price tag before the end of this year.

Unfortunate bull timing?

November’s close coincided with fresh downside pressure on Bitcoin.

Panic over coronavirus combined with Federal Reserve Chair Jerome Powell admitting that inflation will not be “transitory” in nature.

Sentiment likewise took a hit, dropping from “neutral” to “fear” as per the Crypto Fear & Greed Index.

*Crypto Fear & Greed Index. Source: Alternative.me*

PlanB’s floor model, meanwhile, has its work cut out to remain a valid price guide — in just four weeks, it predicts a BTC/USD price of $135,000.

Analyst nails Bitcoin monthly close 2 months running — his October target is $63K

October 1, 2021 Coin Telegraph

Bitcoin

Bitcoin price action exactly conforms to PlanB's predictions for a second time, and if history repeats itself, BTC/USD should be at $63,000 by the end of the month.

Bitcoin (BTC) was keen to retain $44,000 on Oct. 1 as the monthly close sparked a late show of strength.

*BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView*

BTC monthly close matches PlanB prediction

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it first returned to the $44,000 mark Thursday, then test lower levels before heading even higher.

While still not tackling resistance at $45,000 and higher, Bitcoin did not disappoint with its end-of-month performance, this almost exactly matching predictions from stock-to-flow model creator PlanB for a second month running.

Aug>47k✅
Sep>43k✅
Next targets: Oct>63k, Nov>98k, Dec>135k pic.twitter.com/C45nfQkQSC
— PlanB (@100trillionUSD) October 1, 2021

With $63,000 now planned for October, expectations were high for Bitcoin to make up for lost ground going into Q4.

"September was bad. October is great. November is great. December is great," Cointelegraph contributor Michaël van de Poppe summarized, telling Twitter followers to "buy the f*cking dip."

Van de Poppe highlighted historical performance across various months each year, something which Cointelegraph previously noted all but consigned September to be a "boring" 30 days.

Others, however, were more cautious. In its latest market update, crypto trading firm QCP Capital said that it would remain cautious in its approach to the market as a whole.

"Overall, we struggle to find any directional conviction amidst the macro and market crosswinds. Our strategy going into Q4 is to remain fairly neutral and nimble," executives summarized.

Macro factors at play were China's reiteration of its crypto crackdown and two United States issues: legislation and the potential approval of a Bitcoin exchange-traded fund (ETF).

On Friday, a vote on the government's infrastructure bill, originally slated to happen Monday, was again delayed after a shutdown later this month was averted in a separate vote.

Ethereum returns to $3,000

Altcoins meanwhile saw another 24 hours of modest to flat moves, again headed by Binance Coin (BNB) on 6% daily gains.

All of the top ten cryptocurrencies by market cap were in the green at the time of writing, however, marking a refreshing contrast to recent action.

Ether (ETH), the largest altcoin, traded above $3,000 on the back of 3% returns.

Price prediction