Hot off the press, with a new prediction: The price of bitcoin will go to $30,000. A new chart of the Dutch PlanB let’s see. A prediction is made on the basis of the difficulty of the mining algorithm.
When the computing power on the network increases, the difficulty of it. Bitcoin gained in this area to new heights, with 94 billion hashes per second.
The more the hashes, it means a higher level of difficulty, it is a protocol, which adjusts every two weeks, and on the available computational power. Thus, the code attempts to set the time between blocks, on average, a 10-minute hold.
Rien ne va plus#bitcoin 🚀 pic.twitter.com/epwODQ40cm
— PlanB (@100trillionUSD) on September 10, 2019
Bitcoin to $30,000 for
According to the model, of PlanB said the last prijscycli is becoming less and less intense, the increase in the level of difficulty. In 2010 you can see on the graph above, an increase of up to eur 1 million percent!) if the price is to be disposed of at the level of difficulty.
In the next few years, we will still have increases, while the hashpower of the network is growing. But they are a lot less severe. By 2017 the price went up to almost $20,000 and that there was an increase of almost 9,000%.
As for the price, once again, the miningkracht on the network, then we can get into the cycle of an award of $30,000 to expect. That would be an increase of approximately 1,000% from the low point of the cycle. Bitcoin was just over $3,000 or more.
The model PlanB hopes for bitcoiners. “History doesn’t repeat itself but it often rhymes”, is here. On the basis of the past and try to use the Tweeter to make predictions. That is, cuts are not always as wood, but up to the present time, the models are at least interesting, to name a few.
The most popular of the graphs of PlanB which the stock-to-flow ratio. It is the in-house offer is compared to the annual inflow of bitcoin. And this is precisely the interesting thing about the model is that, because the halves approximately every four years.
In order PlanB quote: ”Bitcoin is the first of the rare digital object is that the world has ever seen. It is a scarce commodity, as gold and silver. And it can be sent over the internet, on the radio, by satellite, etc.).”
The models look nice, but in the end of the world, and in the market, how much bitcoin is worth and worth is going to be.
Stock-to-flow ratio of PlanBCheck also have an interview with Madelon Vos on, among other things, the theory of PlanB.
The new Bitcoin News: The sales of bitcoin miners, the measures by The Dutch central Bank, as well as Chinese coffee shops.
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