New Bitcoin price model suggests BTC won’t go below $39K again

Bitcoin (BTC) must cost at least $39,000, says a new tool combining two of its most powerful metrics.In a tweet on Thursday, analyst William Clemente presented the illiquid supply floor chart — and its findings are firmly bullish for BTC.Bitcoin’s price floor rises and risesWith exchange reserves dwindling and major corporate buy-ins expected to be announced in the coming weeks, analysts are all but guaranteeing BTC price upside.As Cointelegraph reported, long-term holders are now in possession of more of the supply than at any time since October 2020.Now, illiquid supply data has been combined with the popular and highly accurate stock-to-flow Bitcoin price model to form a new minimum price for BTC/USD.As Clemente described, it is “a price floor based on Bitcoin’s real-time scarcity.”A screenshot of the new chart shows a lower boundary for BTC/USD as being $39,000 as of this week — a level that neatly lines up with current technical predictions of where the pair should bounce in the event of a reversal.Bitcoin illiquid supply floor chart. Source: William Clemente/TwitterBloomberg eyes “significant advance” in 2021Stock-to-flow, meanwhile, has long demanded stronger performance from Bitcoin spot price, and its creator, PlanB, continues to stick by a $135,000 “worst case scenario” end-of-year close.Related: BTC holds $48K as Evergrande forms ‘Lehman Brothers moment’ for ChinaHe’s not alone. In its latest research, Bloomberg Intelligence gave renewed credence to $100,000 coming true for BTC/USD in 2021.“Past Bitcoin trading trends and the crypto’s declining supply vs. mainstream adoption suggest a significant advance in 2021, potentially to $100,000, we believe,” chief analyst Mike McGlone said as part of Twitter comments that echo Clemente’s.Bitcoin supply data vs. BTC/USD chart. Source: Mike McGlone/TwitterMcGlone said that no fewer than five charts currently point to the magic six figures — one year after Bitcoin first hit a five-figure price tag and never lost it.

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Bitcoin historical data reveals strategy to pick the right iPhone 13

Bitcoin (BTC) and Ether (ETH) historical data make selecting the right Apple iPhone 13 model quite easy for crypto enthusiasts. Apple unveiled four different smartphone models on Tuesday, the iPhone 13 and iPhone 13 mini, with a new camera layout, as well as the Super Retina XDR display-bearing iPhone 13 Pro and iPhone 13 Pro Max, each with several storage options. With so many different models available in a wide price range, it becomes hard for customers to pick a specific model as a replacement for their current gadget. For crypto enthusiasts, though, historical market data on top cryptocurrencies makes the selection process a piece of cake.On average, customers use their smartphones for almost three years before replacing them with a new one, according to a Statista study. In other words, there’s a good chance that a consumer who’s looking to buy an iPhone 13 nowadays owns a phone purchased during the Christmas Sale in 2018. Assuming they also purchased an iPhone model back then, for the sake of comparison, it means they had options to buy an iPhone 8, 8 Plus, iPhone XR or iPhone Xs. Apple’s 2018 product family’s initial prices were $599, $699, $749 and $999, respectively. There’s a $400 price gap between the base model and the high-end iPhone, excluding the $100 pricier iPhone Xs Max model. The same price gap would translate into 0.1 to 0.13 BTC if the purchase was made in December 2018. That means if a crypto enthusiast made the right call and went for the base model in their previous purchase, they’d have enough savings today ($4,800 to $6,200 at the time of writing) to buy several high-end iPhones.Related: Still too early to know if Bitcoin will remain top dog, Wall Street vet saysEther fans could even benefit more from the “buy the base, spend the rest on crypto” strategy by purchasing 3 ETH almost three years ago, which equals 10 iPhone 13 Pro Max devices at the time of writing.Depending on the selected cryptocurrency, yields vary dramatically. For example, Binance Coin (BNB) was just over $5 at the start of December 2018, while Dogecoin (DOGE) was worth $0.00225, meaning investments made in some coins centupled in three years. But one thing is clear: Top cryptocurrencies age way better than premium gadgets in terms of market value.

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BTC holds $48K as Evergrande forms ‘Lehman Brothers moment’ for China

Bitcoin (BTC) cautiously held $48,000 on Thursday as excitement brewed over a boost thanks to China seeing its “Lehman Brothers moment.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTether executive reassures on EvergrandeData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near the $48,000 mark Thursday.While progress toward $50,000 was less decisive, analysts were broadly hopeful that a debt crisis at China’s second-largest real estate developer would provide much-needed confidence.Evergrande Real Estate Group (3333.HK) suspended bond trading Thursday, the latest episode in a saga that saw the giant receive multiple ratings cuts.With $300 billion at stake, comparisons to the 2008 global financial crisis were quick to emerge.“China’s Lehman moment. The money printing will be massive, I repeat MASSIVE!” PlanB, creator of the stock-to-flow family of Bitcoin price models, told Twitter followers. “This is good for Bitcoin.”PlanB was referring to a potential government bailout of Evergrande or the wider-reaching implications of its meltdown, which various sources warn could hit multiple sectors of the economy both inside and outside Beijing’s jurisdiction.Money printing on a huge scale by central banks previously provided the overture to Bitcoin’s dramatic run-up from lows near $3,000 in March 2020 to all-time highs of $64,500 just over a year later.Evergrande’s stock traded at 2.63 Hong Kong dollars at the close of trading in Hong Kong Thursday, down from 5.26 HKD at the start of July. At its peak in 2017, it traded above 30 HKD.3333.HK/USD 1-day candle chart. Source: TradingViewThe largest United States dollar stablecoin issuer, Tether, meanwhile, publicly confirmed that it had no exposure to the brewing crisis.Cautious optimism on BTC spotBitcoin itself showed tentative strength on the day, preserving $48,000 by a hair and, with it, staying above key moving averages on the daily chart.Related: Bitcoin bulls look to profit from Friday’s $195M BTC options expiryThe cryptocurrency saw a golden cross event this week, its second since August, fuelling hopes that Q4 would in and of itself provide a bull run to a new all-time high.#BTC has successfully rebounded from the blue 50-day EMA after holding it as support for several days$BTC #Crypto #Bitcoin https://t.co/QfAjLPC7aA pic.twitter.com/x2JZnvA01V— Rekt Capital (@rektcapital) September 15, 2021September, with its predicted “worst case scenario” monthly close of $43,000, should then give way to a minimum of $63,000 in October, PlanB previously forecast.

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