PlanB’s famous Stock-to-Flow model produces wildly optimistic price targets for Bitcoin. Things may change color for XRP after its recent rally. Finance experts expect strong rise for popular meme-coin Shiba Inu (SHIB). Meanwhile, artificial intelligence predicts the price of ADA and LUNC.
BTC, XRP, SHIB, ADA and LUNC forecasts
A screaming prediction for Bitcoin!
As we move towards 2024, a growing number of investors expect the price of Bitcoin (BTC) to appreciate. Some predict that Bitcoin will exceed the $100,000 level, while others argue that Bitcoin will exceed $1 million. So how realistic are these predictions? After all, sometimes it feels like Bitcoin price predictions are based on nothing but hope and prayer. But there is a popular Bitcoin valuation model that has caught the attention of investors. This pattern is sending some bullish signals right now.
The latest Bitcoin price target is between $100,000 and $1 million, according to PlanB, the anonymous creator of the Stock-to-Flow model. If this model is correct, Bitcoin should be worth a little more than it currently is. How much higher is still up for debate. As Warren Buffett once said, “Price is what you pay; value is what you get.” So, just because a valuation model says Bitcoin should be worth $100,000 by 2024 doesn’t mean that’s the price people will be willing to pay for it.
XRP price analysis
At the time of writing, XRP was trading at $0.66, down about 4.8% on the day. The altcoin has lost more than 7.7% in the past week. Thus, he significantly reduced his monthly earnings, which is currently around 35%. XRP has currently wiped out about 60% of the gains associated with the SEC lawsuit. Crypto analyst Vahid Karaahmetovic points out the following technical levels for XRP. XRP is currently testing the 61.8% Fibonacci retracement support near $0.65.
XRP 1-month price chartIf the token closes below $0.703 this week, it will mark the third weekly loss for XRP despite the positive news in recent weeks. If the $0.65 support is broken, another downside push towards the $0.57-0.58 region, which is home to several key support levels, including the 100-week moving average (WMA) and the key horizontal support that has moved steadily in the past. has a chance.
SHIB price prediction from finance experts
Meme-coin Shiba Inu (SHIB) is preparing to launch Shibarium, a new layer-2 Blockchain upgrade soon. cryptocoin.com As you follow, the team’s plan is to release Shibarium in August. As excitement grows in the meme-coin community with this development, SHIB is on an upward trajectory. Adam, Chief Executive of The Stock Dork, considers the Shibarium upgrade significant as it is expected to address the various scalability and network congestion issues facing current Blockchain.
According to Jon, CEO of Moneyzine.com, a digital platform that provides professional financial and investment advice to its clients, SHIB has the potential to reach an all-time high after the Shibarium upgrade event. In this context, “In any case, SHIB will profit as long as Shibarium is used. If it becomes hugely successful and becomes a global sensation, SHIB’s improved Shibarium and new burning mechanism may have a better chance of hitting its $0.01 target.” says.
AI sets ADA price for end of August
The majority of assets in the cryptocurrency market have been largely bearish in recent days. The price of Cardano (ADA) also continues to follow other cryptocurrencies. Unfortunately artificial intelligence also doesn’t see any improvement for ADA at the end of August. Indeed, advanced machine learning algorithms used by cryptocurrency analysis platform PricePredictions predict the price of Cardano at $0.271743 on August 31, 2023.
Cardano 30-day price forecast. Source: PricePredictionsArtificial intelligence forecasts based on indicators such as moving average convergence divergence (MACD), Bollinger Bands (BB), relative strength index (RSI) and average true range (ATR). As you can see from the chart above, the platform predicts that ADA will drop by 7.72% compared to its current price.
AI sets LUNC price for end of August
The price of Terra Classic (LUNC) briefly skyrocketed after Binance announced its support for the Terra network upgrade. However, the LUNC price has been falling in recent days. Unfortunately, machine algorithms don’t predict things will get any better until the end of August. Indeed, advanced machine learning algorithms used by cryptocurrency tracking and forecasting platform PricePredictions predict that Terra Classic will trade at $0.000076 on August 31, 2023. This means a 5.66% decrease in LUNC price compared to its current situation.
LUNC 30-day price forecast. Source: PricePredictionsMeanwhile, 1-day technical analysis (TA) indicators on crypto analysis website TradingView are also bearish. Accordingly, the moving averages (MA) point to ‘strong selling’ at 14. Also, summaries derived from oscillators at ‘neutral’ at 8 show ‘sell’ at 15. Considering these factors, it is possible that the prediction of artificial intelligence may indeed turn out to be correct. However, the surge in LUNC price following the Binance announcement shows that the digital asset has the capacity to turn the tide and move in the opposite direction if pushed by a positive development.
LUNC 1-day indicators. Source: TradingView
