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

Crypto Analyst Defends $1 Million Bitcoin Prediction – BTC, XRP, Litecoin, Stellar Newsflash

by Daily Hodl Staff
December 16, 2019
in Altcoins, Bitcoin

From a defense of one of the most talked-about Bitcoin predictions of the year to new support for XRP and Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A crypto analyst who burst onto the scene in 2019 is defending the stock-to-flow model that he says indicates BTC will eventually break $1 million.

PlanB, whose analysis made it all the way to CNBC this year, says the model doesn’t just show a high correlation between Bitcoin’s stock-to-flow ratio and its price.

He says it shows the two are cointegrated, which implies that the relationship is especially strong, as if the ratio and price are tethered to one another.

ICYMI: the very high correlation between stock-to-flow and #bitcoin price is NOT spurious … because S2F and btc price are co-integrated ?..? pic.twitter.com/xU9NwmGUUW

— PlanB (@100trillionUSD) December 12, 2019

PlanB describes cointegration using an analogy of a drunk walking his dog along a path.

“The drunk wanders in a sort of random fashion and the dog has to go with him because he’s on the leash. But sometimes [the dog] will be on the right, sometimes he will be on the left. But he cannot go further than the leash. So you don’t know where the dog and the drunk are going, but you know that they stay together.

In this case, it’s even more interesting because we know that the stock-to-flow isn’t wandering like a drunk. [Bitcoin’s supply] is predetermined. So for prediction purposes, this is almost too good to be true.” 

Stock-to-flow tracks an asset’s supply divided by the amount produced per year. According to PlanB, the ratio closely follows Bitcoin’s past price movements and suggests BTC will reach $1,000,000 sometime after 2025.

But his analysis has plenty of critics, including economist and crypto analyst Alex Krüger, who calls the method “massively over-hyped.”

XRP and Stellar Lumens

The software as a service company Quantoz says it now supports XRP and Stellar Lumens (XLM).

The Netherlands-based blockchain tech company says XRP and XLM are supported on the latest version of its protocol Nexus, which is designed to help companies manage crypto assets and integrate public and private blockchain infrastructures into their business.

According to Quantoz,

“You can manage tokens like digital currencies and assets without technical knowledge of digital wallets, crypto trading or handling.

NEXUS supports multiple crypto and fiat currencies, enabling worldwide exploitation and diverse business models. The NEXUS platform has been successfully implemented in different settings, including Broker, Merchant, Custodian, Trading and Stable Coin issuing.”

Nexus also supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Litecoin

Litecoin Foundation director Franklyn Richards says the network appears to be under another dusting attack.

He points to active address spikes as an indicator that something is amiss.

“On average the network typically sees around 40,000 active addresses per day, however according to data from bitinfocharts, every 7 days this value is spiking to over 70,000 before abruptly dropping back down. This has resulted in an almost sawtooth like pattern that’s pretty evident given a cursory glance.”

Dusting attacks involve hackers and scammers sending minuscule amounts of a cryptocurrency (dust) to a large number of personal wallets in an attempt to break the privacy of wallet-holders.

A similar attempt hit the Litecoin network back in August.

[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

  • 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
  • SelfKey Releases AI and ZK-Based Solutions for Safer Digital Verification
    March 9, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,186.55
$28,186.55
3.66%
Ethereum
$1,781.79
$1,781.79
0.13%
Cardano
$0.344497
$0.344497
0.18%
XRP
$0.382928
$0.382928
1.28%
Dogecoin
$0.074142
$0.074142
0.78%

Spotlight

  • Circle Mints $407,000,000 Worth of USDC as Stablecoin Recovers From Depegging Incident: Nansen
    March 13, 2023
  • Coinbase Issues Alert to Crypto Traders, Says It Will No Longer Support Six Ethereum-Based Altcoins
    March 15, 2023
  • Most Dogecoin (DOGE) Holders in Profit As Over 65% of Shiba Inu (SHIB) Owners Languish Underwater: IntoTheBlock
    March 18, 2023
  • Bitcoin (BTC) Nowhere Near Finished Ripping, Says Top Crypto Trader – Here’s His Target
    March 14, 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