The notorious stock-to-flow model that was perfectly predicting the direction of Bitcoin’s movement until the massive correction we saw in May and June suggests that the king crypto (BTC) will reach $72,000 this week, but it is unlikely to happen.
Previously, a Fidelity analyst explained why S2F is no longer accurate and will not be in the future. S2F’s main source of prediction is the scarcity of the asset, which cannot drive the Bitcoin price alone, especially in modern markets.
With Bitcoin, we should add adoption to scarcity to see better results. Unfortunately, it is almost impossible to accurately calculate the technology’s adoption rate in the future even if we compare it to similar technologies like mobile devices or the internet.
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3Nq9aRZ
✔ 3 Charts Showing BTC Price Drop: https://bit.ly/3Or3h8w
✔ BTC Minining Revenue Mirrors 2021 Lows: https://bit.ly/3QUiJeT
✔ Bitcoin $72K Prediction This Week: https://bit.ly/3OsoLC9
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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The Metaverse – Facebook, Decentraland, and More
The Metaverse is an online social space that will be accessible via smartphones, desktop computers, game consoles, virtual reality glasses, and headsets. It will enable millions of people to collaborate, work, and play together. Already, several companies are operating in this virtual space. In Decentraland, a plot of digital land costs $2.43 million, while Epic Games recently announced a $1 billion funding round. If successful, the Metaverse will eventually become a mainstream reality.
Facebook recently rebranded itself as Meta in order to capitalize on the future of virtual reality. Metaverse will be a new phase of the web and digital frontier. It will likely produce trillions of dollars in value as a new computing and content medium. It may be the gateway to virtually everything we do online. It may even be the future of labor. If the Metaverse takes off, it could become the gateway to virtually every experience, including the physical world.
Tokens are one way to enter the Metaverse. Tokens are created using NFT, which allows for unique tokens and blockchain transactions. The metadata of each token contains information about its owner. It is possible to make transactions in the metaverse in a transparent manner. Once the metaverse is created, users will be able to invest in different types of tokens. The Metaverse Index will automatically invest in various metaverse tokens, including those created by Token Sets. This is a simpler way to explore the metaverse than to invest in individual tokens.