• Latest
  • Trending
BTC price to hit $98k in November- Stock-2-Flow model creator PlanB

BTC price to hit $98k in November- Stock-2-Flow model creator PlanB

November 1, 2021
Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

June 25, 2022
Why Would You Utilize Neural Networks to Help You Trade When You Could Use Simple, Layered Approaches | by Dylan Cunningham | The Capital | Jun, 2022

Why Would You Utilize Neural Networks to Help You Trade When You Could Use Simple, Layered Approaches | by Dylan Cunningham | The Capital | Jun, 2022

June 25, 2022
What is StrongBlock (STRONG) and how does it work?

What is StrongBlock (STRONG) and how does it work?

June 25, 2022
Shiba Inu Remains Largest Token Held by Whales as SHIB Price Rises 15%

Shiba Inu Remains Largest Token Held by Whales as SHIB Price Rises 15%

June 25, 2022
Gold Rush Casino to make anticipated debut in August 2022 on the Binance Smart Chain

Gold Rush Casino to make anticipated debut in August 2022 on the Binance Smart Chain

June 25, 2022
Top GCC Banker Hussein Al Meeza Joins Islamic Coin Executive Board

Top GCC Banker Hussein Al Meeza Joins Islamic Coin Executive Board

June 25, 2022
Top 3 small-cap crypto to trade this weekend: ARPA, YFI, NAV

Top 3 small-cap crypto to trade this weekend: ARPA, YFI, NAV

June 25, 2022
Can Metaverse technology enhance human-AI efficiency?

Can Metaverse technology enhance human-AI efficiency?

June 25, 2022
BabyDoge Pumps 13.5% as Community Burns 2 Quadrillion Coins

BabyDoge Pumps 13.5% as Community Burns 2 Quadrillion Coins

June 25, 2022
  • Contact Us
  • Privacy Policy
Saturday, June 25, 2022
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

BTC price to hit $98k in November- Stock-2-Flow model creator PlanB

Automatic by Automatic
November 1, 2021
in Crypto Technical Analysis, Top News
0
BTC price to hit $98k in November- Stock-2-Flow model creator PlanB
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter


  • BTC hit a monthly close of $61,343 on 31 October

  • Bitcoin price has historically rallied after topping previous monthly close

  • PlanB predicts Bitcoin will rally to $98k and $135k in November and December respectively.

Bitcoin (BTC) price closed October at around $61,343, and is currently trading above $62,000 as the first week of November begins with the top crypto in green.

According to PlanB, the price of Bitcoin missed its October close target by less than 3%, but the coin is still in for a major rally in November. The Stock-to-Flow (S2F) model creator has therefore reiterated his earlier prediction that BTC price will follow his model to reach a new all-time high of $98,000 this November.

He pointed to the flagship cryptocurrency’s run to the monthly close of $47k in August before another leg down in September saw it close around $43k. October has seen Bitcoin hit a new monthly high at close above $61k and despite achieving a bull’s-eye close, PlanB believes the upside trajectory for Bitcoin remains.

PlanB has called the 3% off-target mark a “rounding error,” but which is “close enough” for him to stick with his next targets of more than $98k for November and $135k for December.

BTC price chart showing monthly candle. Source: TradingView

Bitcoin’s strong support

As Bitcoin price battles sell-off pressure above $60k, crypto analyst Altcoin Sherpa says strong support levels will prevent a short-term breakdown beyond $54,000. The trader recently noted that Bitcoin is forming a new higher low and the next breakout will be big.

He believes now is the time for anyone looking to take a position, adding that most money will soon flow into Bitcoin.

“When it accelerates I expect it to suck all altcoin liquidity out of the market and move like a runaway train. Higher low getting established now,” he said.

Another analyst Rekt Capital says that Bitcoin’s monthly close means the cryptocurrency could repeat its “historically recurring mid-cycle price tendencies” and see further gains in the short term. This outlook bodes well for BTC/USD as the pair has tended to go higher after topping the previous month’s close.

The upbeat mood towards Bitcoin was also espoused last week by CoinList CEO Graham Jenkin, soon after the crypto platform secured $100 million in its series A funding round.

Jenkin told CNBC that his company was bullish on Bitcoin and that sentiment across the market pointed to BTC price hitting $100,000 by end of 2021.

 “Most of the folks at CoinList will bet that we’re at $100,000 by the end of the year. It’s getting pretty tight so I’m not sure that we’re going to make it there, but that’s what we’re predicting toward the start of the year,” he added.





Source link

Related articles

Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

June 25, 2022
Why Would You Utilize Neural Networks to Help You Trade When You Could Use Simple, Layered Approaches | by Dylan Cunningham | The Capital | Jun, 2022

Why Would You Utilize Neural Networks to Help You Trade When You Could Use Simple, Layered Approaches | by Dylan Cunningham | The Capital | Jun, 2022

June 25, 2022
ShareTweetShareShare
Previous Post

AOZ Invites Enthusiasts to Join Reservation Campaign for Its “Mystery Box” NFTs

Next Post

The 11 Absolute Best Crypto Trackers in 2021

Related Posts

Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

by Automatic
June 25, 2022
0

On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the...

Why Would You Utilize Neural Networks to Help You Trade When You Could Use Simple, Layered Approaches | by Dylan Cunningham | The Capital | Jun, 2022

Why Would You Utilize Neural Networks to Help You Trade When You Could Use Simple, Layered Approaches | by Dylan Cunningham | The Capital | Jun, 2022

by Automatic
June 25, 2022
0

Neural networks tend to be overconfident which leads to losses when trading; simple models can underfit, but layered approaches make...

What is StrongBlock (STRONG) and how does it work?

What is StrongBlock (STRONG) and how does it work?

by Automatic
June 25, 2022
0

The digital financial environment continues to develop almost every second, which is no surprise to those in the crypto sector....

Shiba Inu Remains Largest Token Held by Whales as SHIB Price Rises 15%

Shiba Inu Remains Largest Token Held by Whales as SHIB Price Rises 15%

by Automatic
June 25, 2022
0

Tomiwabold Olajide This blistering rally caused Shiba Inu to retain position of largest held crypto asset During the week, precisely on...

Gold Rush Casino to make anticipated debut in August 2022 on the Binance Smart Chain

Gold Rush Casino to make anticipated debut in August 2022 on the Binance Smart Chain

by Automatic
June 25, 2022
0

Unites States, Texas, Pearland , June 24, 2022 (GLOBE NEWSWIRE) — A major project announcement was made by the Cryptopreneur365...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store

Top News

The Sandbox offers a long-term buying opportunity after a recent sell-off

Enhance Basic Tech Capacity & Provide All-encompassing Products & Services

Fiat Money Poisons Everything. Fiat money destroys lives | by Jonathan Garner | The Capital | May, 2022

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT