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Bitcoin is still aiming for huge profits after halving, Binance's CZ believes that Bitcoin will increase 9 million%

Over the weekend, Bitcoin has consolidated in the area between $ 8K after a week of sharp declines and breaking some key support levels. However, the stock to flow model still shows things going smoothly, meaning huge profits are waiting for us after halving.

Bitcoin's stock to flow model maintains strength

Bitcoin has corrected around 20% from its 2020 peak to yesterday's low of just over $ 8,400. Currently, the price has been staying within the $ 8K range for a few days so top analysts believe where the bottom is around here.

When there are only 70 days left before the halving event takes place, PlanB analyst revisits the stock to flow model and notes that everything is on the right track.

"Halving Bitcoin will happen in 2 months. Add 2 blue dots, then red

For new followers:

– Articles about the original S2F model (March 22, 2019)

– S2F model and article EMH (January 17, 2020) "

The stock to Flow (S2F) model examines the relationship between supply and available stocks.

Using this model, the analyst predicts Bitcoin will rise to around $ 80-100K in the months after halving. Previous events in 2012 and 2016 have seen dramatic increases in subsequent years, and many are expecting that 2021 may increase even more than this year.

However, there are some who criticize this model and use the market hypothesis effectively (EMH) as a basis for rebuttal. Basically, EMH is a model based on publicly available information and therefore analytics and conclusions must be priced.

If EMH is not applied, there will really be huge profits for BTC after halving, not necessarily before.

Condition ktwo messy cascades

Trader and analyst Anondran looked at the hash bands and commented that the cost of mining would become unfavorable to the current price after the block reward was halved.

"Hash range BTC does not look very nice when halving coming nearly.

Mining costs now stand at 7.700 dollars.

Bitcoin right increased to more than 15.000 dollars before halving if miner want to feed his family.

Pump price to help miner and their families".

In the winter of 2018, the miner was forced to shut down because there was no interest to continue.

If the hash rate is still rising (the current value is near the highest level and reaching 120 EH / sec) but the BTC price remains unchanged after halving, the mining profit may drop to unprecedented levels.

Miners are forced to spend more to upgrade hardware, such as Bitmain's latest S19 Pro Antminer or stop mining rigs until prices rise to profitability levels.

The next few months will be interesting for Bitcoin and may indicate performance in the next few years.

Bitcoin price increased by over 9 million % in the next financial crisis

While Bitcoin is still trading in the $ 8,700 zone and is unable to surpass the $ 9,000 level, the stock market is hurting and President Trump urges the Federal Reserve to lower interest rates.

BREAKING: Trump urged the Fed to “become nation leading" Summer Interest rates are lower than other countries.

In other words, Trump called on the Fed to push interest rates to zero or even minus. Bitcoin can save us from this madness!"

Meanwhile, the community agreed that if a financial crisis were to occur, the Bitcoin price would 'go to the roof'.

Binance's Changpeng Zhao also participated in predicting what could happen to Bitcoin if the global market encounters another financial crisis. BTC was created after the 2008 crisis, and therefore, CZ asserts that in the past 10 years, Bitcoin has increased in value by 9 million%. In particular, this happens when the stock market and fiat currency operate strongly.

CZ asked his followers to imagine how the price of BTC could rise if or when the financial crisis broke out and the stock market plummeted. Even so, CZ did not make any specific predictions.

"Bitcoin was created after the financial crisis final. It has increased by 9,000,000% in the last 10 years when fiat and stock strong activity. What do you think it will be like in the next financial crisis?"

Trader Posty doesn't think that the average person will buy BTC right now because of their greater confidence in cash in uncertain times than Bitcoin. He tweeted:

"It is terrible that ordinary people will buy Bitcoin like the first ones did before. Psychologically tell them Must keep cash and don't spend on anything in the moment this precarious ".

Peter Schiff oppose new QA measures

Last weekend, Peter Schiff, CEO of Euro Pacific Capital tweet that quantitative easing and central bank rate cuts are not the right answer to the current difficulties facing the stock market. He emphasized that it was not a way to solve real economic problems either.

The community replied, “Bitcoin will fix that.”

You can see the price of bitcoin here.

Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Minh Anh

Bitcoin Magazine

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