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Former Goldman Sachs executive and current CEO of Real Vision Raoul Pal is assessing Bitcoin’s short-term and long-term prospects. Following the big correction in the crypto markets, the macro guru says that he’s scrounging for every last bit of cash he can find to deploy as dry powder for his portfolio. Despite the scary price action, Pal doesn’t believe we’ve seen the top of the bull run yet.
In other trending Bitcoin News today: Altcoin Daily host Aaron Arnold is predicting that a massive ‘bullish resurgence’ could be in the cards for BTC after the corrective event that saw the leading crypto asset plunge over 50% from its all-time high.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/i-d-rather-bitcoin-over-bonds-billionaire-investor-ray-dalio
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BITCOIN (BTC) BULL SAYS THIS NEW TREND WILL IGNITE A MASSIVE 10,000% PRICE SURGE IN CRYPTO ASSETS!!
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Bitcoin (BTC) bull and crypto influencer Lark Davis is unveiling the next big thing in crypto that he believes has the potential to ignite a massive surge of 100x or about 10,000%.
Davis says the crypto market will continue to offer new and profitable opportunities as it evolves and expands beyond the red-hot decentralized finance (DeFi) sector.
“So NFTs (non-fungible tokens) is one such area that is getting a lot of attention right now and could be a big growth area, and it’s certainly an area that we, as investors, maybe want to be paying attention to.”
According to the crypto researcher, NFTs are unique tokens that represent ownership in a particular asset.
“A fungible item is one that can be exchanged for any similar item. For example, a dollar bill is fungible because it can be exchanged for any other dollar and maintain the same value.
However, something like a ticket is non-fungible because even though we could, for example, trade our ticket for someone else’s ticket, well it’s not going to be exactly the same, is it?
Maybe that other ticket’s for a different film, or it’s the same film but at a different time… It’s not equal, is the point.
Each ticket gives you access to a unique set of experience… If we move this idea into the blockchain setting, an NFT is thus a one-of-a-kind token, a certificate of digital authenticity verifiable on chain.”
Lark explains that NFTs offer a wide array of use cases for investors, including ownership in digital art, in-game items such as virtual lands, and skins as well as collectible items such as card decks and virtual pets.
The crypto researcher also highlights that NFTs can extend their reach beyond the realms of art and gaming.
Lark sees non-fungible tokens being used in royalties, insurance, and many other enterprise solutions including tokenizing invoices in order to take out a loan.
While investors who want a position in the emerging space can simply buy NFTs, Lark emphasizes one particular opportunity that can deliver worthwhile gains.
“Perhaps the most financially lucrative use case for NFTs is going to be plugging into DeFi. Maker DAO is already working on bringing music royalties and shipping invoices into their platform…
One that I’m keeping a close eye on is called Persistence. Now, this is a new player coming to Cosmos which will be focused on bringing in enterprises into both the NFT and, of course, into the blockchain world, looking at DeFi and how we can bring those NFTs into DeFi. So this is definitely one that I’m keeping an eye on…”
In other trending Bitcoin News today:
Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”
Ethereum’s DeFi space has fallen off dramatically over recent weeks due to weakness in the markets.
Top coins pertaining to the space have dropped by over 30-40% from their recent all-time highs, resulting in market carnage.
Not to mention, some crypto assets in the space have lost even more than 40%, plunging as capital floods into safer bets such as Bitcoin.
There are still many prominent supporters of DeFi, though.
For one, the Winklevoss Twins, the Bitcoin billionaires behind the Gemini exchange, recently threw their weight behind DeFi in a series of messages.
“DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.” – Cameron Winklevoss
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.
— Cameron Winklevoss (@cameron) September 22, 2020
Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”
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MICROSTRATEGY’S MASSIVE PREMIUM IMPLIES $122K BITCOIN PRICE, SAYS INVESTMENT FIRM SHORT ON MSTR!!
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Bitcoin bull Michael Saylor, the co-founder, and chief executive officer of publicly-traded business intelligence company MicroStrategy, has been betting big on BTC, the leading cryptocurrency.
The company bought another 205 BTC on Friday, bringing its total holdings to 91,065 BTC, representing 0.488% of Bitcoin’s circulating supply.
While the company continues to bet more and more on Bitcoin, its share prices are not feeling the same bullishness. MSTR share prices have crashed nearly 60% in less than one month from their all-time high of about $1,314 on Feb. 9.
On Friday, the MSTR shares fell as low as $537 before recovering to $620. Interestingly, MSTR is suffering from losses more than Bitcoin.
During the same period, the price of Bitcoin went from $46,500 to an ATH of $58,300, only to see a correction of 26% to almost $43k. Currently, BTC is consolidating in the $40k-$50k range.
The losses in the cryptocurrency market have actually been the result of the weakness in the stock market, which has been reacting to the rising bond yields. “The bond market selloff is showing some signs of stability, and that could mean the bitcoin pullback is nearing its end,” said Edward Moya, a senior market analyst at OANDA.
In related news, MicroStrategy President and CFO Phong Le sold 10,000 shares of MSTR on March 2nd, at an average price of $802.46 a share. Company CTO Timothy Edwin Lang sold 10,000 shares of MSTR stock on Feb 22nd.
Moreover, General Counsel Wei-ming Shao sold 5,000 MSTR shares on March 3rd. Director Jarrod M Patten and Stephen X Graham also sold 1,150 shares and 2,000 shares respectively on Feb. 24.
Another criticism came from investment management firm Bireme Capital which published its Q4 2020 Investor Letter, revealing that it is short on MicroStrategy, declaring $450 as its fair value.
The fund that had a net return of 47.1% for the year ending 2020 said MicroStrategy has a massive premium, its market cap increasing by $9 billion on a ~$3b windfall on its bitcoin purchases.
According to Bireme Capital’s calculations, MSTR’s current share price implies a bitcoin price of $122,000. The letter reads,
“MicroStrategy (MSTR) is the latest firm with shrinking revenues and negligible profits to pivot to the blockchain. Rather than attempt to start a cryptocurrency business, MSTR pivoted in the most straightforward way possible: it simply bought hundreds of millions of dollars worth of bitcoin overnight. In one light, this is an utter abdication of all the principles of corporate finance.
Why not return the money to shareholders, who can decide for themselves whether or not they want to own bitcoin? But in another light, this was a brilliant end run around the SEC, who has been denying bitcoin ETF proposals le and right for years. MSTR went from being a mere stagnant software business to the de facto bitcoin ETF.”
In other breaking Bitcoin news today:
Bitcoin Price Hits $51K As U.S. Senate Passes $1.9 Trillion Stimulus
The price of Bitcoin (BTC) reached over $51,000 on March 7 after the U.S. Senate passed the anticipated $1.9 trillion stimulus bill, which is roughly two times larger than the market capitalization of BTC.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
a graph for people selling under $500k, now of all times. zoom out. also there are more halvings, eg next 2024 and a store of value (TAM) total addressable market of $200bil ($5m-10m/BTC). and QE, MMT, NIRP, YCC etc it’s an inflation storm out there. just saying. @ecoinometrics pic.twitter.com/y9UYVPkf5p
— Adam Back (@adam3us) March 6, 2021
The $1.9 stimmy denigrates the $USD and it’s a predictable move by Congress. And so are the next 10 – 20 stimmys coming. Since I can’t stop it, I buy #Bitcoin and watch the price skyrocket. Maybe someday we’ll come back to reality, but hopefully not too soon 😂😂😂
— Max Keiser (@maxkeiser) March 6, 2021
https://cointelegraph.com/news/bitcoin-price-hits-51k-as-u-s-senate-passes-1-9-trillion-stimulus
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BITCOIN BULL MARKET UNTOUCHED AND IN FULL SWING TO SKYROCKET OVER 450% IN COMING MONTHS SAYS PLANB!!
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Amid the continuing correction in Bitcoin and the broader crypto markets, top analyst PlanB believes that the BTC bull market is far from over. If Bitcoin’s RSI continues to hover above 90, PlanB calculates that the leading crypto asset will skyrocket over 450% in the coming months.
“RSI is 92 now and April is the 2nd month greater than 90. If this run continues 4 more months at RSI 92, BTC will be $300,000 in July (not saying this will happen, just what if). In my opinion, after next all-time high (maybe end this year), volatility will return and we can not rule out 50-80% draw down.”
In other trending Bitcoin News today:
Legendary longtime value investor Bill Miller told CNBC on Tuesday he believes Bitcoin is firmly entering into the mainstream, contending the cryptocurrency’s rally in recent months is significantly different from its 2017 ascension and subsequent plunge.
“I don’t think this is a bubble at all in Bitcoin, I think this is the beginning of the mainstreaming of it … I think it’s like digital gold.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
“I don’t think this is a bubble at all in #Bitcoin, I think this is the beginning of the mainstreaming of it … I think it’s like digital gold,” says legendary investor Bill Miller
— Bloqport (@Bloqport) April 21, 2021
This revisit of lower price has created incredibly strong price validation for Bitcoin about $1T cap. 14% of the supply last moved above $1T cap.
This is a key line in the sand imprinted into BTC’s price discovery, an area of immense support. pic.twitter.com/NxLKbXTYAC
— Willy Woo (@woonomic) April 20, 2021
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