Bitcoin News and Finance
Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price Skip to main content

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price

Bitcoin prices have been better after the second week of September, hovering around $46.5K to $48.5K per unit during the last two days. Meanwhile, bitcoin proponents still believe a significant second-leg up will be happening this year and a recent survey published by Plan B with 123,410 votes shows people believe bitcoin will reach $100K by Christmas 2021. Furthermore, a price model crafted by Will Clemente called “Illiquid Supply Floor” indicates that bitcoin prices may never drop below $39K again.

Plan B’s Bitcoin Price Survey Sees 100K Votes

Plan B is a pseudo-anonymous Twitter account (@100trillionusd) and the creator of the bitcoin price model called stock-to-flow (S2F). Plan B has stated in previous tweets that September bitcoin (BTC) prices may be lackluster, and this week he said “let’s skip September and go straight to October.”

He said this because in a tweet he wrote on June 20, Plan B expects bitcoin prices to follow this path: “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.” So far, Plan B’s August bitcoin price prediction and even so far in September, has been on point.

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price

On September 11, 2021, Plan B decided to do a Twitter survey as he has done on various occasions in the past. Plan B has 799.1K Twitter followers so his survey gets around on the social media platform. The survey he shared last Saturday asked the following question on Twitter:

Do you think bitcoin will reach $500K, $288K (S2FX model), $100K (S2F model), or will BTC stay below $100K… by Christmas 2021?

123,410 votes were cast in Plan B’s survey on Twitter and 45.7% believe it will reach $100K. Approximately 32.7% of those who voted think BTC will stay below $100K by Christmas 2021. 15.3% of the crowd suggest that they think $288K is possible and 6.3% believe that $500K per bitcoin could happen by the year’s end.

Will Clemente’s Model Suggest Bitcoin’s Price Floor Is $39K

In addition to Plan B’s recent survey, the lead insights analyst at Blockware Solutions, Will Clemente, tweeted about a price model called the “Illiquid Supply Floor.”

“Introducing: Illiquid Supply Floor,” Clemente tweeted on September 15. “This combines Glassnode’s illiquid supply data with Plan B’s traditional S2F model, creating a price floor based on Bitcoin’s real-time scarcity. Currently $39K,” Clemente added. He also thanked Matt Faltyn for helping him bring the model “to life.”

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price
Chart shared on Twitter by the lead insights analyst at Blockware Solutions, Will Clemente.

Crypto entrepreneur Anthony “Pomp” Pompliano congratulated Clemente on his chart and said: “This is a banger. Nice work.” Meanwhile, others were not so nice and called the model “hopium” in response to Clemente’s chart.

“Combining old garbage with new garbage. Still garbage at the end of the day,” a critic tweeted. “Also, if bitcoin is so ‘scarce’ and due for a ‘supply shock’ then why has it not put in a new ATH in nearly 6 months? If it’s so rare, why has it been ranging between $30-50k for this long?”

What do you think about Plan B’s survey with 123K votes and the recent “Illiquid Supply Floor” model tweeted by Will Clemente? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory