PlanB: $1,000,000 BTC Prediction on Track Despite Crypto ‘Panic’ – Bitcoin, XRP, Ethereum Newsflash
From a response to “panic” over Bitcoin’s big move to the downside to an update on Ethereum 2.0, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
A prominent crypto analyst who burst onto the scene after adapting the stock-to-flow ratio to Bitcoin says this week’s steep drop in the price of BTC hasn’t changed his outlook.
Stock-to-flow is traditionally used to forecast the future value of precious metals. It tracks the circulating supply of an asset against the amount of new supply hitting the market.
The model has proved extremely accurate for tracking Bitcoin’s past price action and according to the anonymous analyst PlanB, BTC remains on a path toward $100,000 sometime around the year 2021 and $1 million around 2025.
“Some people [are] panicking about this -17% week. It’s just normal Bitcoin behavior.
Note, we are still up 2x YTD. And yes, S2F model is just fine, nothing out of the ordinary.”
Ethereum
An engineer working on Ethereum’s scalability upgrade known as Ethereum 2.0 says the project is on track for a release next year.
In a new interview on the Into the Ether podcast, Will Villanueva talks about the latest research and development on the update, explaining the mechanics that are designed to dramatically improve the number of transactions Ethereum can process.
Ripple and XRP
The Ripple-backed micropayments startup Coil is partnering with OutVoice, a freelance invoicing solution that allows editors to pay freelancers with the click of a button.
OutVoice is designed to be implemented into WordPress and other content management systems.
Ripple, which owns more than half the total supply of XRP, allocated 1 billion XRP to Coil back in August.
Coil is designed to offer online publishers more control over their work and allow fans to reward content creators in both crypto and fiat currency. It is currently up and running and utilizes XRP.
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