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Popular crypto analyst and trader Kevin Svenson is saying that Bitcoin is due for a steep rally to the six-figure level as BTC follows a widely-known pattern in the equities market.
âGeorge Lindsay says the basement is essentially a bear trap⊠So it would actually be a good bear trap if we did actually continue with a move up to the first floor and that would mean over the next month or two, we would expect a move back up toward the $50,000 to $60,000 to form our first floor. And this could potentially lead us to into a final mania phase all the way up to the $200,000 level.â
In other trending Bitcoin News today: Adoption And Scarcity To Fuel A Bitcoin Run To $100K!
Despite having fallen by nearly 30% since its November all-time high, Bitcoin is in a consolidating bull market and on its way to $100,000, according to a Bloomberg Intelligence report. The paper said it is unlikely that BTCâs bull run has come to a halt and predicts the fixed supply to sustain increasing prices.
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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:
Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin
https://bitcoinmagazine.com/business/bitcoin-to-hit-100000-in-2022-bloomberg-report
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BLOOMBERG: BITCOIN AIMING FOR 0K AMID RISING DEMAND!! ADAM BACK PREDICTS K BTC PRICE BY 2022!!
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Bloomberg Intelligence commodity strategist Mike McGlone says the Bitcoin price could be en route to $100,000, but BTC investors will have to wait.
In a new edition of the Bloomberg Crypto Outlook, McGlone says that Bitcoin is on track to breach key resistance at $14,000 as indicators show that investors are flocking into the number one cryptocurrency.
âOur chart depicts the market cap of the Grayscale Bitcoin Trust (GBTC) approaching Bitcoin equivalent holdings of 500,000. A year ago, this direct indicator of investor demand held less than half that amount. Inflows in GBTC, the largest exchange traded product, absorbed about 70% of new Bitcoin supply in 3Q, we calculate.
Also featured in our graphic is the 30-day average of Bitcoin active addresses from Coinmetrics. This strong price companion points to the crypto closer to $15,000 vs. about $10,500 on Oct. 2. Addresses plunged with prices in 2018 and were a leading indicator of the Bitcoin recovery in 2019.â
McGlone also highlights Bitcoinâs unique property in that price does not influence supply, which leaves adoption as the number one metric to measure value.
According to McGlone, Bitcoinâs valuation will rise on the back of rising adoption rates, and BTCâs historical price history suggests $100,000 could happen by 2025.
âStill in hangover mode from the 2017 rally, we donât know what specific catalyst might launch Bitcoin to new highs, but demand vs. supply metrics remain price-positive. If the crypto echoes its past gains, with some maturation, about double the time period it took to add a zero to $1,000 could get its price to $100,000 in 2025.â
In addition, the Bloomberg Intelligence strategist says that the current macroeconomic landscape should serve as a tailwind for Bitcoinâs ascent.
âIn an unparalleled macroeconomic backdrop of rapidly increasing fiscal and monetary stimulus, limited supply stores of value such as gold and Bitcoin stand to prevail, in our view. This should be true when traditional asset classes â stocks and bonds â are overextended.â
In other trending Bitcoin News today:
Bitcoin Pioneer Adam Back Predicts $50,000 BTC Price By 2022 Or Sooner
Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is âconservative,â and those levels should hit in less than two years.
That was according to Blockstream CEO Adam Back, who delivered a fresh bullish BTC price outlook on Monday.
Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor Ark, who in September forecast a Bitcoin market cap of $1 trillion to $5 trillion by 2030 at the latest.
Ark is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise in 2020.
âConservative. Iâd say bitcoin likely sees $1 trillion market cap within 2 years, probably sooner. $1 trillion is about BTC $50k,â he said.
As of October, Bitcoinâs market cap is just over $198 billion.
For Backâs prognosis to come true, the market would need to see a 400% increase by 2022.
For reference, at the start of October two years ago in 2018, the figure stood at $114 billion.
BTC/USD traded at $6,600, two months before the pit of its bear market which bottomed out at $3,100.
Further responses to Ark included on-chain data resource Ecoinometrics, which highlighted a $2 trillion Bitcoin market cap as equal to that of Apple.
BTC/USD would trade at $100,000 under such circumstances, while to equal gold, the pair would need to reach $500,000.
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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:
For context a $2 trillion market cap for #Bitcoin would put one BTC at $100,000.That’s also the same market cap as Apple.To reach the market cap of gold, one BTC would be worth about $500,000.
There is plenty of upside to come. pic.twitter.com/L1yDnaCWdg
â ecoinometrics (@ecoinometrics) October 5, 2020
https://assets.bbhub.io/professional/sites/10/Bloomberg-Indices-Outlook_Cryptos_Oct-2020.pdf
https://cointelegraph.com/news/bitcoin-pioneer-predicts-1t-btc-market-cap-by-2022-or-sooner
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HEREâS WHY THIS CRYPTO CEO THINKS BITCOIN (BTC) SOON HITS ,000!! DEFI ASSET YFI SOARS 108,000%!!
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Vinny Lingham, cryptocurrency investor and the CEO of CivicKey, asserted that thereâs a good likelihood that the Bitcoin price will soon trade at $15,000 per BTC.
He made this comment in reference to how $10,000 ârepresents strong supportâ:
âIt looks to me that Bitcoin is poised for another leg up, with an overshoot above $15k, but then a retrace and heavy consolidation around $14k for a few weeks at least. I doubt this sub-$12k price holds for much longer and $10k represents strong support right now.â
Discussing the efficacy of his calls, Lingham noted to a commenter that he has rightfully called prior price action.
He added that he personally thinks that Bitcoin flips bullish on a macro scale if it converts $12,000 into support:
âIâm not a permabear or a permabull â I called the bubble and I called the bear market. The bear market is almost over, if/when we break and hold $12k. So yes, Iâm turning bullish.â
This sentiment is in line with a number of technical traders within the space. One historically accurate analyst, for instance, who predicted BTCâs V-shaped reversal in March says a rally to $17,000 is imminent.
Thatâs not $15,000, of course, but thereâs a growing sentiment that Bitcoin will gap higher.
The rally towards $15,000 or $17,000 is expected to be part of a longer-term uptrend, spurred by a confluence of fundamentals.
Raoul Pal, CEO of Real Vision, recently commented that Bitcoin is likely to rally 50 to 100 times this market cycle due to macro trends.
Responding to Jerome Powellâs comments, Pal noted that the Federal Reserve seemingly wants anything but deflation.
This, the investor explained, will create market pressures over time that will drive capital to Bitcoin and gold at record speed.
The Winklevoss Twins, co-founders of Gemini, have echoed the optimism.
They also noted that macro factors are likely to drive vast amounts of capital to Bitcoin in upcoming years.
In other trending Bitcoin News today:
After Riding YFIâs 108,000% Tidal Wave, Analyst Josh Rager Bullish on Five Nascent Crypto Assets
Bitcoin trader and strategist Josh Rager is hopping on the decentralized finance (DeFi) bandwagon.
Rager invested in Yearn.Finance (YFI) early.
The coin has surged from $34.53 on July 18th to a high of $37,621 on Sunday â a whopping 108,000% increase.
The analyst now predicts the coin will continue to soar and reach a price of $100,000.
Meanwhile, the analyst tells his following of 81,000 people on Twitter that he plans to hold on to five other nascent crypto assets that he believes offer upside potential.
âStill holding XAMP, TOB, YFL, JGN, & TACO. The altcoins I share are the altcoins I intend to hold for a while or take profits slowly overtime â not dump on people.â
Rager puts the spotlight on Antiample (XAMP) and Tokens of Babel (TOB) as both assets are getting a lot of attention in the Uniswap protocol.
âXAMP [and] TOB are doing great on vol & users going on 2 weeks+ now just on Uniswap alone. The first major exchange to list them both will likely reap some major rewards from users and fees.â
As for the other coins on Ragerâs list, Juggernaut (JGN) is a new breed of token that allows businesses to create custom synthetic tokens and take full advantage of the DeFi infrastructure.
Meanwhile, YF Link (YFL) is a fork of the red-hot Yearn.Finance protocol.
The project leverages LINK (Chainlink) and allows LINK marines to directly participate in the DeFi craze through yield farming.
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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:
It looks to me that #Bitcoin is poised for another leg up, with an overshoot above $15k, but then a retrace and heavy consolidation around $14k for a few weeks at least. I doubt this sub-$12k price holds for much longer and $10k represents strong support right now.
â Vinny Lingham (@VinnyLingham) August 28, 2020
Still holding $XAMP $TOB $YFL $JGN & $TACOThe altcoins I share are the altcoins I intend to hold for a while or take profits slowly overtime â not dump on people
In fact, you don’t hear about most the altcoins I trade because they’re high risk and I don’t want you losing money
â Josh Rager đ (@Josh_Rager) August 24, 2020
PREDICTION? FED out of bullets: needs inflation. Zero int not working. Q: What will FED do? A: Buy GOLD not T-bills? FDR did this in 1933 buys gold @$28 raised price to $35. Will Fed buy gold for $7000 to cause inflation? Gold silver Bitcoin win. Savers lose. What do you think?
â therealkiyosaki (@theRealKiyosaki) August 30, 2020
Hereâs Why This Crypto CEO Thinks Bitcoin Soon Hits $15,000
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BITCOIN SET TO ERUPT TO 0,000 IN LUDICROUS BTC BULL RUN NEXT YEAR PREDICTS CRYPTO FUND GIANT!!
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Dan Morehead, founder of Pantera Capital, says the Bitcoin price has a pretty good shot at hitting $100,000 per BTC by the end of next year.
Along with Micheal Sonnenshein of Grayscale Investments, together they share their bullish forecasts on the Bitcoin (BTC) price trajectory.
On a new episode of the Money Movement podcast, Morehead says he and his firm remain bullish on the godfather of cryptocurrency.
He believes BTC is gearing up for another bull run that would be deemed âludicrousâ by traditional standards.
â[Bitcoinâs] got a nine-year 209% compound annual growth rate and we think it will continue, and itâs just that simple. It has some bubbles, it has some down trades, but if it got back on that trend it would be at $100,000 at the end of next year.
In the normal markets, saying something goes up 10x is ludicrous and youâd be ridiculed but, it happens every three or four years and all the factors are coming together. So I think it is a pretty good shot that hits $100,000 at the end of next year.â
Sonnenshein says people shouldnât be putting money into Bitcoin unless they can afford to lose it.
He cites a recent report from Grayscale that compares BTCâs current market structure to 2016 before the coin began a historic 4,400% rally.
âIn my opinion, Bitcoin is not something people should be putting more money into than they can afford to lose. Think of it as an early-stage technology.
Buyer beware, it does have those 80% drawdowns, but from here, Bitcoin is either a hell of a lot higher and a lot more valuable than it is today, or something somehow comes along and displaces Bitcoin and we all move on to something else.â
In other trending Bitcoin News today:
This Newly Created Crypto Asset Just Surged 6,200% â And Bitcoin Trader Josh Rager Says Itâs Just Getting Started
Crypto strategist and trader Josh Rager is a keeping a watchful eye on a new crypto token that has skyrocketed by about 6,200% in less than a month.
Rager tells his 87,000 Twitter followers he sees Shroom.Finance (SHROOM) doubling in value in the next 30 days.
âSHROOM is currently near $0.01 and if MEME can go from $30 to $1600 in one month, thereâs no reason why SHROOM canât go from current price to $0.50+ the coming month if Shroom bridges gaming, DeFi and NFTs, especially as liquidity is added in the coming weeks as LPs will be rewarded.â
According to its website, Shroom.Finance is a fork of the Sushiswap protocol.
The new crypto asset seeks to build community-owned DEXes (decentralized exchanges) that specialize in the $10-billion in-game asset industry.
âWe foresee a future where in-game assets, fungible and non-fungible, trade freely in a decentralized fashion, and we are here to take that spot and facilitate the ownership to a community of gamers.â
Rager points to the emergence of the widely-talked about non-fungible tokens (NFTs) as a possible bullish catalyst for SHROOM.
âLetâs just say NFTs are one of the hottest trends to hit 2020. And Shroom Finance team is building a decentralized ecosystem for in-game assets trading and minting. This includes NFTs (ERC-721, ERC-1155) and ERC-20 token standards. Iâm really bullish on SHROOM for long term.â
The trader also says that Shroom.Financeâs new DEX will allow SHROOM holders to participate and generate income via yield farming.
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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:
Prepare for a great Q4 2020 for BTC folks (blah blah, de-coupling, blah blah, new correlations). The difficulty ribbon is one of my more reliable personal favourites. https://t.co/syPL4RfFTD
â Willy Woo (@woonomic) September 28, 2020
$SHROOM is currently near $0.01 & if MEME can go from $30 to $1600 in one monthThere’s no reason why SHROOM can’t go from current price to $0.50+ the coming month if Shroom bridges gaming, defi & NFTs
Especially as liquidity is added in the coming weeks as LPs will be rewarded
â Josh Rager đ (@Josh_Rager) September 21, 2020
https://cointelegraph.com/news/bitcoin-difficulty-ribbon-chart-hasnt-been-this-bullish-since-march
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