Day: November 9, 2021

ETHEREUM IS ABOUT TO EXPLODE – NEW ETH PRICE TARGET CONFIRMED

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As Bitcoin Soared Past $68K, Plan B Says Floor Model Shows BTC Reaching ‘$100K This Year’ – Market Updates Bitcoin News

On November 8, 2021, the price of bitcoin reached an all-time high of $68,564 per unit at 10:57 p.m. (ET) on Monday evening. Meanwhile, Plan B, the creator of the bitcoin price model called stock-to-flow (S2F), has correctly predicted the last three months of bitcoin prices and recently said that based on the floor model the price will reach $100K this year. ‘Bitcoin Looking Strong’ — Plan B’s Poll Results Show 40% of Voters Believe $100K Will Happen This Year Four months ago in June, Plan B tweeted that his…

Kraken predicts $96K BTC price top as analyst says $1T Bitcoin market cap is ‘now cemented’

Bitcoin (BTC) could nail the now-popular $98,000 price target — but it could end up being the cycle top, new research argues. In its “October 2021 Market Recap & Outlook,” major United States exchange Kraken said that Bitcoin should reach around $96,000 if this quarter copies the last bull run. Copycat Bitcoin may top out below $100,000 With BTC price predictions reaching $300,000, the new analysis from Kraken suggests that if BTC/USD were to copy its 2017 performance, this cycle’s top could end up still being under $100,000. While facing…

Bitcoin Miner Iris Energy Says IPO to Be Priced at $25-$27 per Share

Australian bitcoin miner Iris Energy plans to sell about 8.3 million shares at $25 to $27 each from its initial public offering, according to a filing with the SEC. The Sydney-based miner will list its shares on Nasdaq under the ticker “IREN.” JPMorgan, Canaccord Genuity, Citigroup, Macquarie Capital, Cantor Fitzgerald, CLSA and Cowen are joint bookrunners for the deal. The miner will use the net proceeds to fund its growth initiatives, including bitcoin mining hardware purchases and acquisition and development of data center sites and facilities Iris targets up to…

Lack of Supply Could Drive Price of Bitcoin and Ethereum Higher – Blockchain News, Opinion, TV and Jobs

Bitcoin made a new all-time high early this morning, peaking at $68,500. Analysts are suggesting that a lack of supply is a major factor behind the peak, as some reports show that 85% of existing supply has pretty much remained inactive for the past 3 months. According to CoinGecko, which tracks the cryptocurrency market, the total value of all digital coins is currently $3.1 billion (about $2.7 billion). This means the price has almost quadrupled since the beginning of this year. The supply of Bitcoin held on exchanges has now…

ECB’s Panetta Says CBDCs ‘Likely’ to Be Legal Tender: Report

Central bank digital currencies (CBDCs) will probably become legal tender in the jurisdictions of their issuance, the European Central Bank’s (ECB) Fabio Panetta said. Panetta, a member of the ECB’s executive board, said this was “likely” at a panel in Helsinki on Tuesday, according to a Bloomberg report. However, this status “should not be taken for granted,” he added. CBDCs being legal tender would give them an edge over other payment options provided by private companies and help achieve wider use by the public. “It would be quite awkward not…

Swiss Central Bank Ready to Run With wCBDC in January: ‘Just Takes a Policy Decision’

The Swiss National Bank (SNB) says it will technically be ready to launch a wholesale central bank digital currency (wCBDC) in January of next year, using Switzerland’s newly-licensed Six Digital Exchange (SDX). While it’s the retail-facing version of a CBDC that tends to grab most attention, the argument for wCBDC, designed to clear and settle wholesale payments, is compelling and less complicated to deploy in most cases. Switzerland has been public about not opting for a retail CBDC, and whether SNB decides to launch a wCBDC remains a policy decision,…