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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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CAN BITCOIN PRICE HIT 4,000 SOMETIME IN LATE 2021? | Ratio Shows Big BTC Advantage Over Amazon
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Mimicking 5,000% gains which were experienced during the previous BTC halving bull cycle, gives a Bitcoin price of $424,000, happening sometime in November 2021.
Obviously, there is no indication yet as to whether the 20MA will now act as support for an extended Bitcoin (BTC) bull run.
But, if we assume that we have reached that point in the cycle and project the same gains from this point as we saw from February 2016, we come up with an impressive new all-time high (ATH).
However, Cowen does not see fresh gains of 5,000%, rather than gains on the way to the next ATH may be a more conservative, although still huge 1,000-1,500%.
He also thinks that the market cycles are lengthening.
Specifically that the time between the halving and the peak has been getting longer.
After the first Bitcoin halving, the peak came after around 52 weeks.
However, after the second halving, this period increased to 73 weeks. Cowen, therefore, suggests that the peak following this year’s halving may take longer still, with a potential peak not occurring until 2022.
Still, that would give us a $125k BTC price sometime in early 2022, which is certainly not to be sniffed at… if we can stay above the 20MA as support.
Analyst Who Predicts Bitcoin Will Hit $1,000,000 Says This Ratio Shows BTC’s Big Advantage Over Amazon
PlanB, a closely-watched crypto analyst known for his bold prediction that Bitcoin will hit $1,000,000 over the next decade, says a popular ratio used to asses risk and reward shows the leading cryptocurrency’s potential upside compared to some of the biggest stocks on the Nasdaq.
The analyst is releasing a series of charts that apply the Sharpe ratio to BTC, Facebook, Apple, Amazon, Netflix and Google.
The ratio was created by Nobel laureate William Sharpe and is designed to show the amount of return an investor could potentially get for enduing the volatility of a risky asset.
The pseudonymous analyst says Bitcoin has a Sharpe ratio greater than 1, which is well above the competition.
“Bitcoin is the only asset with a ‘Sharpe ratio’ greater than 1! Classic asset (stocks, bonds, gold) risk and return [is] basically flat. Even FAANG (Facebook, Apple, Amazon, Netflix, Google) [are] not even close to BTC. Note I skipped Bitcoin’s first years (2009-2012) and updated data.”
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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:
$BTC price was unable to reclaim level and has made its way back toward supportAll is not lost, want to see how it reacts at $8k
Be patient, you’ll be happy you stuck around this emotional roller coaster of a market in a couple years https://t.co/cKg6otZjeE
— Josh Rager 📈 (@Josh_Rager) January 25, 2020
They really should be calculated inside the same time period IMO, as Bitcoin has only ever existed inside a macro bull market, while many of those stocks weathered a financial crisis in 2008 and one or more bear markets which contributed to their Sharpe calculation.
— Willy Woo (@woonomic) January 25, 2020
Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Here’s Why
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BINANCE CEO SAYS BITCOIN COULD HIT $10 MILLION, MOVING UP 19,900% FROM CURRENT BTC PRICE LEVELS!!
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Binance CEO Changpeng Zhao says the world is unprepared for the flood of interest that is set to enter the Bitcoin and Crypto market.
In a conversation with Bloomberg Radio, Zhao comments on the upward potential of Bitcoin and the growth in users his exchange is facing.
Zhao tells Bloomberg Radio that as more institutions like Tesla and MicroStrategy start to allocate to Bitcoin, the cryptocurrency could explode in price.
“Right now, I think only 11 companies have announced they are allocating some, like usually less than 1% of their corporate treasury, to Bitcoin. And we think that is most likely what caused the initial price rise. I think Microstrategy’s Michael Saylor started it first. But there are 650,000 companies in the world… like relatively established companies in the world. And their treasury is huge.
If all of them only allocated 1% to Bitcoin we are going to see, I don’t know, 1,000x more growth in Bitcoin price. And if they allocate more than 1%, that’s going to be even bigger. So I think people don’t quite get the magnitude of the wave that is about to hit us.”
The Binance CEO estimates that the flagship cryptocurrency could go up from anywhere between 1,900% and 19,900% from current price levels.
“With price predictions, it’s really, really difficult. I think it could go to, I don’t know, $1 million, $10 million. It’s very hard to tell.”
Zhao also reveals that the exchange is onboarding new users at an unprecedented and sustained rate during this bull run, outpacing its user growth during the 2017 bull run.
“Just to give people an idea, in 2017 when Bitcoin hit the peak of about $20,000 we were seeing 300,000 new registered users per day. And that only happened for a couple of days and then it kind of trailed off and became slower. Now we are seeing sustained new user registrations above that peak and sustained over like the last 2-3 months. And it’s increasing.”
In other Trending Bitcoin News today:
First Bitcoin ETF in North America Has Massive Opening Day, $80,000,000 Traded in Just One Hour
The first Bitcoin exchange-traded fund in North America is launching with a bang.
On day one, investors exchanged $165 million worth of shares of the Purpose Bitcoin ETF after its debut on the Toronto Stock Exchange on Thursday, according to data from Bloomberg.
ETFs are regulatory-compliant investment vehicles available to both retail traders and institutions.
Purpose Investments, the fund’s issuer, says the ETF will invest directly in physically settled Bitcoin (BTC), and not derivatives. Like physically-backed gold and silver products, the ETF will also be directly backed by physically-settled Bitcoin holdings.
In a statement, Purpose CEO Som Seif says investment opportunities come with the increased recognition of BTC as a new asset class.
“We believe Bitcoin, as the first and largest asset in the emerging cryptocurrency ecosystem, is poised to continue its growth trajectory and adoption as an alternative asset.”
The launch of the ETF comes as Bitcoin extends its bull run, soaring past $52,000 to hit a new all-time high this week.
In the states, the investment management firm VanEck has renewed its efforts to launch a Bitcoin ETF, which would trade on the Cboe BZX Exchange. So far, the SEC has denied all attempts to launch a BTC ETF in the US.
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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/56-3k-bitcoin-price-and-1t-market-cap-signal-btc-is-here-to-stay
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TRENDS PUT BITCOIN RIGHT ON TRACK FOR $250K BY 2022, SAYS BILLIONAIRE TIM DRAPER!!!!!
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Venture capitalist Tim Draper was on Benzinga’s Crypto Festival to talk about the number 1 cryptocurrency BTC. Draper noted some trends which he believes will be the driving force behind bitcoin hitting $250,000 in 2022.
Widespread adoption was one of these trends. He noted that people will eventually be able to use BTC in the way they currently use fiat currency. “One that happens,” Draper said, “there’s going to be a switch thrown in people’s heads.”
When asked when he planned to sell his coins, the billionaire replied, “Why would I want to sell the future currency for the past currency? I just can’t imagine anything more important for humanity than this.” As for Draper’s $250,000 prediction for the digital asset’s price in late 2022 or early 2023, he said, “I think we’re right on track.”
In other trending Bitcoin News today: BTC price returns to $50K as Bitcoin bears lose $450M in daily liquidations!
BTC swiftly reclaimed $50,000 on Thursday as bears felt maximum pain and lost hundreds of millions of dollars.
“Bitcoin facing final hurdle before $57K,” Cointelegraph contributing analyst Michaël van de Poppe tweeted in his latest update.
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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:
We’re Right On Track For Bitcoin At $250,000, Billionaire Tim Draper
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