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SHIB New All-Times High, Bitcoin at $135,000 by December and Ethereum 2.0 Upgrade: GetBlock’s Day in Crypto #4



October 26, 2021

3 min read

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Today, on Oct.26, 2021, the second ‘dog-coin’ Shiba Inu Coin (SHIB) expanded its breath-taking rally. Now it is going to surpass DOGE in terms of market cap!

Elon Musk fails to stop SHIB rally

Shiba Inu Coin (SHIB), an overhyped memetic token with zero real utility, has printed a new historic high. On major spot platforms, it peaked at $0,000048 after adding 40% in 24 hours.

At the same time, according to some trackers, the ATH of SHIB price was registered on the day of its Binance (BNB) listing in May at $0,00005. As such, the ongoing upsurge stopped 3.9% from historic high.

Yesterday, the most popular cheerleader of the ‘dog-coin’ segment, Tesla CEO Elon Musk ruined SHIB price by his statement about zero SHIB in his portfolio.

Nevertheless, passionate soldiers of the SHIB army managed to shrug off the wave of panic-selling caused by Elon’s tweet.

Bitcoin still targets $135,000 by December

Anonymous trader and analyst PlanB, creator of the famous ‘Stock-to-Flow’ model of Bitcoin (BTC) price dynamics, yet again stressed that it works like clockwork.

Recent Bitcoin (BTC) all-time-high at $67,000 seals the deal for bulls, PlanB noticed. As such, we’re just entered the second phase (‘leg’) of the ongoing bullish rally.

Should this ‘Stock-to-Flow’ model be valid, Bitcoin (BTC) has all chances to reach $98,000 by November and $135,000 by December of this year. Final peak of ‘Stock-to-Flow’ model id around $288,000 by the year of 2025.

‘Stock-to-Flow’ model (or S2F) is the most bullish macro model of all long-term Bitcoin (BTC) price predictions. According to it, Bitcoin’s scarcity increases over time due to halving events, i.e. periodical 50% decreases of Bitcoin emission rates.

By press time, Bitcoin (BTC) is changing hands at $62,081, up more than 600% since the last halving of May 10, 2020.

Ethereum 2.0 inches closer to its first crucial upgrade

Ethereum 2.0, the much-anticipated Proof-of-Stake version of Ethereum (ETH) smart contracts platform, will undergo its first crucial update in 48 hours.

According to Ethereum Foundation (EF) researcher Tim Beiko, Altair upgrade will go live at epoch 74240 on October 27, 2021.

To keep participating in Ethereum 2.0 Beacon Chain operations, all Ethereum (ETH) validators should upgrade their nodes. Failure to do so will be penalized.

This update advances validation logic, so, average Ether holders and traders won’t be somehow affected by its activation.

In Ethereum 2.0, Ethereum (ETH) operations will migrate from Proof-of-Work consensus with its mining to Proof-of-Stake (PoS), where the integrity of blockchain is guaranteed by stakers. Approximately, the transition (‘Merge’) will start in Q1-Q2, 2022.

Then, Ethereum (ETH) network will be divided into various interconnected shards to make it more scalable.



October 26, 2021

3 min read