The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

PlanB: Bitcoin Indicator Signals Surge to $370,000 – BTC, Ethereum, XRP, Litecoin, Bitcoin Cash, EOS, Tron, Cardano Forecasts

by Daily Hodl Staff
July 26, 2019
in Trading

[the_ad id=”36860″]

A crypto analyst known as PlanB says a metric based on miner activity points to a long-term Bitcoin bull run to $370,000.

According to PlanB, past Bitcoin rallies have begun after large numbers of miners who power the network determine they’re not making a profit and temporarily turn off their rigs. This tends to happen when a Bitcoin bubble bursts and the price of BTC plummets.

By running the math on Bitcoin’s past price movements after the so-called “miner capitulation”, PlanB says he believes Bitcoin is likely to begin a new trend to $370,000 over the next two to three years.

#bitcoin bull markets seem to start at difficulty bottoms.

We saw difficulty bottoms (miner capitulation) in Dec 2011 ($4.6), May 2015 ($230) and Dec 2018 ($3691). Price continues to rise from these bottoms until ATH around 100x .. implying a continuing uptrend until $370K ATH. pic.twitter.com/xgwp3SeHfb

— PlanB (@100trillionUSD) July 26, 2019

PlanB joins other crypto insiders who see Bitcoin’s price plotting a similar path. In a new episode of the Unchained podcast, Pantera CEO Dan Morehead says his firm’s calculations indicate Bitcoin is on a trajectory toward $356,000 in the coming years.

“It deflated so much that at the beginning of this year, when we were at the trough of the crypto winter, we graphed what it would be like if Bitcoin spent the next 12 months getting back to its trend line and then from there out just stayed at its trend. And its trend has been to grow at 235% compound annual growth rate. At the time, Bitcoin was $3,000 or $4,000 – that put Bitcoin at $42,000 at the end of 2019, which I know sounds crazy.

[the_ad id=”36860″]

But essentially we’re halfway back there, it’s right on the trend line. And I think it’s a good shot that by the end of the year we hit that. And if you just extrapolate that line out for another year, it’s $122,000 per Bitcoin and in one more year at $356,000. And those [numbers] sound crazy, but our first research piece that we wrote on Bitcoin, we predicted it would go to $5,000. And when it was a hundred bucks, everyone thought that was totally nuts. But these numbers, in two to three years, people will look back and go, ‘Oh ya, that makes sense.'”

Right now, Bitcoin is down 1.75% at $9,808 according to COIN360. Ether is down 0.85% at $219.03, XRP is up 3.16% at $0.3247 and Litecoin is down 0.43% at $93.65.

Source: COIN360

In the near term, crypto analysts at large say Bitcoin is looking bearish as altcoins search for support.

Bitcoin

CoinDesk – Chaikin money flow indicator suggests BTC’s bullish momentum at five month low

NewsBTC – Bitcoin targets fresh weekly lows after failed breakout

[the_ad id=”36860″]

Ethereum

FXStreet – ETH/USD looking to reclaim $230 resistance level

XRP, Litecoin, Bitcoin Cash, EOS, Tron, Cardano

FX Empire – XRP, LTC, BCH look to hit key levels after slow start to the day

NewsBTC – Crypto market reversing gains: BCH, EOS, TRX, ADA analysis

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Coinfest Asia Is Back in 2023 Carrying the Theme of Web 2.5
    March 20, 2023
  • Poolz Security Incident Prompts Rapid Response and Platform Restructuring
    March 16, 2023
  • Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar To Combat Centralized Stablecoins
    March 16, 2023
  • Partnership Announcement – Oraichain x DoraHacks
    March 16, 2023
  • Wemade Announces Partnership With Space and Time To Power Blockchain and Gaming Services
    March 15, 2023
  • DAO Maker’s Degen Zoo Builds the Abandoned Logan Paul Game in 30 Days
    March 10, 2023
  • New Peer-to-Peer Chat Application Launches on the Decentralized Streamr Network
    March 9, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,991.50
$27,991.50
0.12%
Ethereum
$1,755.24
$1,755.24
1.97%
Cardano
$0.336993
$0.336993
2.87%
XRP
$0.381403
$0.381403
2.6%
Dogecoin
$0.072076
$0.072076
4.79%

Spotlight

  • Bitcoin Has Very Likely Bottomed With Technicals Lining Up Perfectly, Says Trader Tone Vays – Here’s His Upside Target
    March 14, 2023
  • Over 3,800,000,000 Shiba Inu (SHIB) Disappears As Burn Rate Explodes 1,131% Following Shibarium Beta Release
    March 16, 2023
  • Bitcoin Is the Big Winner in an Inflationary Environment, Says BTC Bull Anthony Pompliano – Here’s Why
    March 19, 2023
  • Whales and Sharks Accumulate $821,000,000 in Bitcoin in Just One Week: Santiment
    March 13, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl