Bitcoin

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price

Bitcoin prices have been better after the second week of September, hovering around $46.5K to $48.5K per unit during the last two days. Meanwhile, bitcoin proponents still believe a significant second-leg up will be happening this year and a recent survey published by Plan B with 123,410 votes shows people believe bitcoin will reach $100K by Christmas 2021. Furthermore, a price model crafted by Will Clemente called “Illiquid Supply Floor” indicates that bitcoin prices may never drop below $39K again.

Plan B’s Bitcoin Price Survey Sees 100K Votes

Plan B is a pseudo-anonymous Twitter account (@100trillionusd) and the creator of the bitcoin price model called stock-to-flow (S2F). Plan B has stated in previous tweets that September bitcoin (BTC) prices may be lackluster, and this week he said “let’s skip September and go straight to October.”

He said this because in a tweet he wrote on June 20, Plan B expects bitcoin prices to follow this path: “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.” So far, Plan B’s August bitcoin price prediction and even so far in September, has been on point.

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price

On September 11, 2021, Plan B decided to do a Twitter survey as he has done on various occasions in the past. Plan B has 799.1K Twitter followers so his survey gets around on the social media platform. The survey he shared last Saturday asked the following question on Twitter:

Do you think bitcoin will reach $500K, $288K (S2FX model), $100K (S2F model), or will BTC stay below $100K… by Christmas 2021?

123,410 votes were cast in Plan B’s survey on Twitter and 45.7% believe it will reach $100K. Approximately 32.7% of those who voted think BTC will stay below $100K by Christmas 2021. 15.3% of the crowd suggest that they think $288K is possible and 6.3% believe that $500K per bitcoin could happen by the year’s end.

Will Clemente’s Model Suggest Bitcoin’s Price Floor Is $39K

In addition to Plan B’s recent survey, the lead insights analyst at Blockware Solutions, Will Clemente, tweeted about a price model called the “Illiquid Supply Floor.”

“Introducing: Illiquid Supply Floor,” Clemente tweeted on September 15. “This model combines Glassnode’s illiquid supply data and Plan B’s S2F model to create a price floor that is based on Bitcoin’s actual scarcity. Currently $39K,” Clemente added. He also thanked Matt Faltyn for helping him bring the model “to life.”

Model Suggests BTC Price Floor Is $39K, Survey Shows Hope for Year-End $100K Bitcoin Price — Chart shared on Twitter by the lead insights analyst at Blockware Solutions, Will Clemente.

Crypto entrepreneur Anthony “Pomp” Pompliano congratulated Clemente on his chart and said: “This is a banger. In response to Clemente’s chart, other people called the model “hopium”.

Combining old and new garbage. Still garbage at the end of the day,” a critic tweeted. “Also why is bitcoin not putting in a new ATH within 6 months?” If it’s so rare, why has it been ranging between $30-50k for this long?”

What do you think about Plan B’s survey with 123K votes and the recent “Illiquid Supply Floor” model tweeted by Will Clemente? We’d love to hear your thoughts on this topic in the comments section below.

Tags in this story

$100K, $288k, $500k, Bitcoin (BTC), Bitcoin markets, Bitcoin Price, bitcoin price model, Blockware Solutions, BTC Markets, BTC Price, BTC Price Floor, BTC price model, Illiquid Supply Floor, Plan B, Plan B Survey, Price Floor, Price Model, S2F, stock-to-flow, stock-to-flow (S2F), Under $100K, Will Clemente

Image Credits: Shutterstock, Pixabay, Wiki Commons, Will Clemente, Twitter, Plan B Survey,

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The Open Network (TON) to launch teleport Bitcoin bridge

The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain, The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem. The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for…

The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain,
The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem.

The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for DeFi purposes. The bridged Bitcoin, called Teleport BTC, will maintain the original Bitcoin’s security while allowing holders to take advantage of the growing opportunities on TON.

According to the Foundation, each Teleport BTC will be backed 1:1 by native Bitcoin via a trustless, transparent process chiefly executed by verifiable smart contracts and validators.

This new development aims to “enhance Bitcoin’s utility, transforming it into a powerful tool for generating additional rewards on TON.”

TON’s Growth in 2024

The Open Network, closely linked with the popular Telegram messaging app, has been on an upward climb in 2024 both in price and network development. The network was initially created by the Telegram team for internal use but was abandoned and eventually picked up by the community.

TON made major waves after Telegram re-established contact by using the network to power its ad reward system, which pays channel owners in TON (the network’s native cryptocurrency) for traffic and views.

Outside of Telegram, TON is making a name for itself as a social gaming chain with tap-based casual projects like Notcoin and Hamster Kombat garnering attention.

TON’s Growing DeFi Ecosystem

While TON is not primarily known as a network for decentralised finance, its DeFi ecosystem has witnessed a boom in recent months. According to Defillama, a leading on-chain finance data provider, the total value locked on TON currently stands at $745.96 million as of writing after rising significantly from $22 million at the end of February 2024.

The Open Network plans to launch the Teleport BTC bridge later this year.

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Bitcoin

First ETP for Near Protocol’s NEAR token unveiled on Sweden’s Spotlight Stock Market

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market. Valour currently operates one of the largest Solana ETPs. The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs. Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR. This groundbreaking ETP will be…

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market.
Valour currently operates one of the largest Solana ETPs.
The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs.

Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR.

This groundbreaking ETP will be available on Sweden’s Spotlight Stock Market, offering retail and institutional investors the opportunity to gain exposure to the decentralized application development platform.

NEAR ETP joins Valour’s diverse portfolio of ETPs

Valour already operates one of the largest Solana ETPs, Valour Solana, and offers a suite of staking products, including ETPs for Bitcoin, Ether, and Internet Computer.

Valour’s head of product, Elaine Buehler, emphasized the significance of this new fund, highlighting its potential to grant investors access to an asset renowned for its transformative impact on decentralized finance (DeFi) and non-fungible tokens (NFTs).

Near Protocol, designed to tackle common blockchain development challenges such as user onboarding and multi-chain operations, boasts a market capitalization of approximately $6.8 billion. This positions NEAR among the top 20 digital assets globally, according to CoinMarketCap.

The launch of NEAR ETP comes amid a wave of regulatory approvals in the United States, where investment managers BlackRock, Franklin Templeton, and VanEck recently received preliminary approval to list the first exchange-traded ETH products. Analysts predict this move will pave the way for more crypto exchange-traded products in the US, including potential Solana-based ETFs.

Valour’s parent company, DeFi Technologies, currently manages around $600 million in assets across various crypto-native strategies.

On July 16, DeFi Technologies expanded its footprint by acquiring trading desk Stillman Digital in an all-stock deal. This acquisition is expected to significantly enhance the Canadian crypto platform’s capabilities, potentially positioning it as a formidable competitor to larger entities like Galaxy Digital.

Valour’s new NEAR ETP represents a significant advancement for investors seeking exposure to innovative blockchain technologies, reinforcing the firm’s position at the forefront of digital asset investment products.