New Bitcoin Price Model Predicts BTC at $55,000 – Plus Ripple and XRP, Ethereum, Tron, Stellar, EOS, Cardano
From a new Bitcoin price prediction model to a big tease from EOS co-founder Dan Larimer, here’s a look at some of the stories breaking in the world of crypto.
A crypto analyst known in the industry as Plan B just released a new prediction model that indicates Bitcoin will hit $55,000 in 2020 or 2021.
The model analyzes the potential impact of Bitcoin’s coming halving, which will cut the block reward given to miners in half and further slow the production of Bitcoin’s finite supply, which is capped at 21 million BTC. Halvings have historically had a positive impact on the price of Bitcoin, and according to Plan B, the increased scarcity will once again drive value.
Plan B compares the stock-to-flow (SF) ratio of Bitcoin and precious metals to predict where the price of BTC is heading. Stock is the size of the existing stockpiles or reserves, while flow is the yearly production. According to the analysis, the coming halving, which is set to happen in May of 2020, will likely place Bitcoin’s stock-to-flow valuation close to gold.
“Next halving is May 2020. Current SF of 25 will double to 50, very close to gold (SF 62). The predicted market value for bitcoin after May 2020 halving is $1 trillion, which translates in a bitcoin price of $55,000. That is quite spectacular. I guess time will tell and we will probably know one or two years after the halving, in 2020 or 2021. A great out of sample test of this hypothesis and model…
People ask me where all the money needed for $1 trillion bitcoin market value would come from? My answer: silver, gold, countries with negative interest rate (Europe, Japan, US soon), countries with predatory governments (Venezuela, China, Iran, Turkey etc), billionaires and millionaires hedging against quantitative easing (QE), and institutional investors discovering the best performing asset of last 10 years.”
You can check out the full analysis here.
Ripple and XRP
Spanish banking giant Santander says it’s Ripple-powered One Pay FX remittance app, which launched early last year, has seen a 230% growth in monthly volumes from May to December of 2018.
The app lets people send euros to any eurozone country, or dollars to the US.
Meanwhile, the Singapore-based crypto exchange Bitrue just added three new XRP-based pairs and now has a total of 34 coins paired with the digital asset.
[Bitrue New XRP Base Pairs]
— Bitrue (@BitrueOfficial) March 24, 2019
The anticipated Ethereum-based trading card game Gods Unchained is now in its early access beta. The game is from Fuel Bros, and is backed by Nirvana Capital and Continue Capital, along with participation from Sora Ventures and Coinbase.
YouTube’s CryptoStache just posted a look at the early access beta of the decentralized competitive card game, which allows players to choose from six different gods, each with their own set of cards and abilities.
EOS co-founder Dan Larimer has posted a cryptic tease about an upcoming announcement. On the EOS Telegram group, Larimer said it will be the “biggest news” since the reveal of EOS itself.
Coinbase Earn, a platform that lets users earn cryptocurrency while learning about how it works, is partnering with the Stellar Foundation to hand out one billion Stellar (XLM). The crypto exchange says 100% of the funds will go directly to Coinbase users to teach them how to use the Stellar protocol.
Tron is launching an educational program of its own, holding a series of events focused on the basics of blockchain.
“When people first hear the word “blockchain”, some may feel intimidated by this buzzword or some may have never heard of it at all. It was this exact reason that led the Tron marketing team to implement the Educational Event Series. Tron aims to act as an educational leader in the blockchain space by sharing our knowledge of blockchain and cryptocurrency to the community through a plethora of channels – social media, events, conferences, and more.”
As an educator in the #blockchain space, we are rolling out The Educational Events Series. The 1st event touches on common misconceptions of blockchain and which industry will be the first to fully adopt and embrace blockchain #technology. $TRX #TRX https://t.co/J34fzGj8na
— Justin Sun (@justinsuntron) March 25, 2019
The latest episode of The Cardano Effect is out. This edition features Charles Hoskinson and his colleagues working on the smart contract platform. It covers Cardano’s efforts in Africa, potential white label solutions for supply chain management, and enterprise solutions for adoption.