Bitcoin (BTC) Price Enters 'Overvalued' Zone: Charles Edwards of Capriole Investments

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Mon, 06/01/2020 - 15:04
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Vladislav Sopov
Charles Edwards, a seasoned crypto analyst and leader of the Capriole Investments digital assets fund, has shared an update on his 'Energy Value' prediction of Bitcoin
Bitcoin (BTC) Price Enters 'Overvalued' Zone: Charles Edwards of Capriole Investments
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Charles Edwards, author of the Energy Value model of the Bitcoin (BTC) price, noticed an interesting moment on its chart. And it doesn't take a great analyst to figure out whether it is, in fact, bearish or bullish.

Welcome back to the bullish market

As per the chart revealed by Mr. Edwards, the current Bitcoin (BTC) price was below its 'Energy Value' for nine months in a row. It entered this territory of undervaluation before the 'Xi Spike', in late Q3, 2019.

Charles Edwards: Bitcoin (BTC) enters overvalued zone
Image via Twitter

According to this model, the Bitcoin (BTC) price overperformed its 'Energy Value' levels only in periods of prominent bullish rallies. E.g. this rule proved accurate in the 2016-2017 run as well as during the short but significant mid-2019 rally.

Also, the 'Energy Value' figures are lagging behind Bitcoin (BTC) price movements. This means that when the Bitcoin (BTC) price crosses the 'Energy Value' moving average from the bottom, the bullish rally has already gained some steam.

At press time, the Bitcoin (BTC) Energy Value is sitting at $11,111 while its SMA level is at $9,098. The Bitcoin (BTC) price is eyeing $9,600 on major spot exchanges.

$100,000 for Bitcoin (BTC), but be patient

The 'Energy Value' model of the Bitcoin (BTC) price is a unique six-digit prediction based not on the sentiment of a toxic Bitcoin (BTC) maximalist but on sophisticated calculations. As previously reported by U.Today, Charles Edward studied the energy fundamentals of the Bitcoin (BTC) network to explain its price movements.

This prediction says we should get prepared for a $100,000 Bitcoin (BTC) price by the year 2025 or 2026.

It is worth noting that Mr. Edward masterfully described the nature of the correlation between crypto and stock prices in periods of high market volatility.

According to his estimations,

When markets are in Extreme Greed: investors are attracted to risky assets and Bitcoin performance correlates with equities, or when markets are in Extreme Fear: investors dump risky assets and Bitcoin performance correlates with equities.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)