Bitcoin update price BTC flat crypto mix problem and Christmas

Bitcoin lunch: price BTC and crypto rises: miners, hodlers, PlanB v. Buterin

During this Bitcoin lunch, we look at the live BTC price and the prices of the top 25 crypto. Then we look at whether BTC is as dead as Google visitors think. Next, we analyze a notable change in the behavior of BTC miners. Finally, we dive into the feud between Vitalik Buterin, who took PlanB’s S2F model under fire and was rebutted by PlanB.

We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.

Live Bitcoin price and prices top 25 crypto rise

We see at the time of writing that the live Bitcoin price is EUR 20,084.69 ($21,071.64). This is 2.75% higher than during our Bitcoin lunch yesterday.

The prices of the top 25 crypto are also rising. Apart from the stable coins, we only see green numbers. The biggest gain is currently with + 11.28% for Polygon (MATIC). On the site of you can analyze all live crypto prices 24 hours a day.

Is Bitcoin really as dead as Google visitors think?

To gauge how retail investors feel about the BTC, consulting Google Trends is a good gauge. We can see that this weekend’s historic crash caused quite a scare. The search term “Bitcoin dead” was never searched for more often than this weekend.

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Google searches for “bitcoin dead” hit all time highs over the weekend.

– Alex Krüger (@krugermacro) June 20, 2022

Now the BTC has been declared ‘dead’ 455 times over the course of its existence and up until now the currency always came back with new record prices. Now that there are many more institutional investors there seems no reason to assume that this will be different now. What is true, however, is that the current rally is unlikely to be the end of the bear trend just yet.

This can be deduced, among other things, from the fact that more than 50% of BTC hodlers are still making a profit on their investment at the current price. Historical analyses show that in the past a drop below 50% was always needed to reach a BTC bear rally bottom. We already saw yesterday what a possible further bear price development could look like.

Notable price change Bitcoin miners

How far the BTC has to fall is the question. If we analyze the behavior of Bitcoin miners, it doesn’t seem to be too far. Indeed, last week we saw them bring a record amount of BTC to the exchanges for a possible sale.

If we analyze this data again we notice that the miners are sending much less BTC to the exchanges in the past week. This means that they are selling the minimum to remain profitable, but keeping the rest to wait for price increases.

Vitalik Buterin lashes out at S2F model PlanB, but gets rejoinder.

Last year PlanB’s S2F model was trending among investors because it correctly predicted the BTC price several times. However, the final prediction that Bitcoin would quote $100,000 before the end of 2021 did not come true and this year the model is also less accurate.

A core developer of Ethereum lashed out yesterday, calling the model an “epic failure. This outcry was picked up by Vitalik Buterin. He chose his words more carefully, but was also by no means mellow, as you can read.

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Stock-to-flow is really not looking good now.

I know it’s impolite to gloat and all that, but I think financial models that give people a false sense of certainty and predestination that number-will-go-up are harmful and deserve all the mockery they get.

– vitalik.eth (@VitalikButerin) June 21, 2022

It didn’t take long for PlanB to come up with a cutting reply.

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After a crash aome people are looking for scapegoats for their failed projects or wrong investment decisions. Not only newbies but as “leaders” fall victim to blaming others and playing the victim. Remember those who blame others and those who stand strong after a crash.

– PlanB (@100trillionUSD) June 21, 2022

In an earlier post, PlanB was quite honest about his model. He indicated that the current situation differs from his model because his model only takes into account the degree of scarcity and does not consider macroeconomic factors. According to him, this leads to two possibilities.

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#bitcoin S2F original 2019 model (grey) and newest fit on most recent data (white dots). S2F model certainly had a good run from Mar2019 (BTC 4K) to Mar2022 (BTC 45K). For now: either BTC is extremely undervalued and will bounce back soon, or S2F will be less useful in the future

– PlanB (@100trillionUSD) June 20, 2022

Naturally, we are curious to see which possibility the market will identify. We will of course continue to follow the developments.

Want to stay up to date on the latest stock price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”

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