PlanB Reverses $100K BTC Prediction, Ethereum Whales Accumulate; HBAR Spikes 30% on Metaverse Foray

As Bitcoin wavers beneath the $50k barrier, Stock to flow (S2F) creator, PlanB believes BTC needs a ”small miracle” to reach the end-of year-$100k mark. In a Dec. 18 tweet, He says ”Bitcoin needs a small miracle for a 100K Christmas. Will I ditch the S2F model if this does not happen? Nah, I actually like being at the lower bands. In fact, I published the model at the lower bands in March 2019 with BTC below 4K”.

In late November, PlanB had acknowledged missing the predicted monthly close of $98k while emphasizing Bitcoin was indeed on track towards $100k “Floor model $98K [November] close will probably be a first miss (after nailing Aug, Sep, Oct). S2F model not affected and indeed on track towards $100K”.

Now, PlanB is not the only one to tone down his prediction in a way, Kraken CEO Jesse Powell who had predicted that Bitcoin would trade “$100,000 plus a coin” late this year or early next year no longer believes so. The CEO stated in a recent Bloomberg interview that crypto winter is now “possible,” noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based “sort of around the Bitcoin halving.”

Alternatively, hoping the small miracle pulls through for Bitcoin according to PlanB, BTC would have to rally 113% at a present price of $46,849 to reach the $100k mark.

Ethereum Whales Accumulate

As indicated by on-chain analytics, Santiment, Ethereum billionaire addresses with 100k to 10m ETH have added nearly 2.8% to their holdings since October 1st and have accumulated 1.41 million ETH or 5.58 billion worth.

Ethereum’s price sits at ~$3,970 as whale behavior continues to play an important role. Billionaire addresses with 100k to 10m $ETH have accumulated $5.58B of $ETH (1.41M coins) since Oct. 1st, adding 2.8% more to their bags in these past ~2.5 months.

Ethereum Whale Accumulation, Courtesy: Santiment

Whale behavior continues to play an important role in Ethereum price. The second-largest altcoin marked all-time highs at $4,867 on Nov. 10.

HBAR Spikes 30% on Metaverse Foray

The Hedera network, a public distributed ledger network is jumping into the metaverse frenzy, working to develop what it describes as “enterprise metaverse.”

The HBAR Foundation, which supports development on the Hedera network through grants, has formed a new partnership with MetaVRse, a web-based 3D creation platform, to support the development of metaverse-related applications, according to a Dec. 14 press release.

Hedera’s HBAR token has since rallied nearly 46% since the announcement with today’s 30% spike the largest. Notably, the Hedera network’s native token, HBAR, has increased sevenfold year to date. At the time of writing, the HBAR token traded at $0.301.

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