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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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MAX KEISER SAYS BITCOIN WILL ROCKET TO #post_titleM AS BIG INSTITUTIONS BUY BTC DIRECTLY FROM MINERS!!
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The Bitcoin price will rise exponentially until âitâll get almost impossible to buy BTC as price rockets higherâ Max Keiser has announced.
Speaking to Express.co.uk, RT host of the Keiser Report, Max Keiser said:Â
âThe demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day.Â
This is why I think institutions that are buying Bitcoin will do so directly from miners and the public wonât have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 per BTC.â
âMeanwhile, Generation Z who bought lots of bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.â
Studying the daily demand for Bitcoin from the worldâs major exchanges, the current estimated average daily demand far outweighs the daily supply created by mining bitcoin.
The daily demand on exchanges amounts to 2,600 BTC, whereas the supply from mining is only 900 Bitcoin.
Of this disparity, Max Keiser said: âThis is amazing, the daily demand from these four is 2,600 Bitcoin, but the daily supply from mining is only 900 Bitcoins.â
This Bitcoin prediction of an escalating price was also echoed by Dan Morehead, the CEO of Pantera Capital, who said:Â
âThe first investment firm in the US to launch a digital currency, pre-auction ICO, and blockchain-enabled venture funds.Â
PayPal and CashApp already buying more than 100 percent of all newly-issued bitcoins. PayPal alone likely buying all within weeks. Where would Cash App get theirs? Thatâs where the finite-supply, inelasticity part comes in, at a higher price.â
Bitcoin expert Dan Held gave a list of the financial institutions âand trading legendsâ that recognize Bitcoin is the new gold.
Mr Held tweeted the following names and institutions, âFidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmillerâ.
A follower of Mr Held tweeted: âBitcoin will divide people into two groups. In those who have it and those who want it.â
In other trending Bitcoin News today:
âBlackRock Chief Investment Officer Says Bitcoin Will Overtake $10 Trillion Gold As Primary Store of Valueâ
Rick Rieder, chief investment officer of global fixed income at investment management corporation BlackRock, says he believes Bitcoin will surpass gold as the primary store of value.
In a CNBC Squawk Box interview, Rieder explains why he believes Bitcoin and cryptocurrency at large arenât going anywhere.
âI think cryptocurrency is here to stay and I think it is durable and youâve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennialsâ receptivity to technology and cryptocurrency is real. Digital payments systems is real so I think Bitcoin is here to stay.â
The BlackRock executive highlights why he believes Bitcoin will overtake gold as the go-to store-of-wealth asset.
âDo I think it will take the place of gold to a large extent? Yeah, I do because itâs so much more functional then passing a bar of gold around.â
While Rieder sees a rosy future for the largest cryptocurrency, he admits that he does not include much BTC in his corporate and business portfolios.Â
Also, the BlackRock CIO says heâs unsure whether Bitcoin is worth the price it is trading at today, which is around $18,770.
Rieder is the latest high-profile Wall Street figure to see the potential of Bitcoin. Earlier this month, billionaire investor Stanley Druckenmiller revealed he owns Bitcoin and said that the flagship cryptocurrency has more upside potential than 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:
Current #bitcoin price action is nice, but we are waiting for a real jump (like the red arrows early 2013 and 2017). IMO that will be the start of the real bull market, and indeed phase5. January 2021? pic.twitter.com/orzwdCOcvP
â PlanB (@100trillionUSD) November 22, 2020
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MICHAEL SAYLOR PREDICTS BITCOIN TO HIT $5,000,000 AND SAYS BTC IS A âSCREAMING BUYâ SIGNAL!!
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MicroStrategy CEO Michael Saylor believes the Bitcoin price can easily hit the seven-digit mark.
In a new interview with FamilyOffice, Saylor says Bitcoin could appreciate a hundredfold to reach a price of $5 million per BTC.
âI can see bitcoin going to a million. I can see it going to $5 million⊠because if it simply replaces all the indexes as a monetary index money, why shouldnât it go to $100 trillion in market cap or something?â
Saylor, whose company MicroStrategy now owns 91,326 Bitcoin, points out that the flagship crypto asset is currently a âscreaming signalâ to investors, and this is aided by a rapid expansion in the money supply globally and the dominance of its blockchain network.
âIn my life Iâve never seen something that was such a screaming signal. Youâve got a $200 to $300 trillion addressable market. Youâve got a problem â money is not sound. Youâve got engineered thermodynamically sound money. Youâve got a dominant network. Everybodyâs decided itâs the network. Itâs exploding.
The signal that is exploding is itâs growing 200% a year every year for 12 years running. Thatâs the signal.â
Saylor predicts that the flagship crypto assetâs growth rate is unlikely to be replicated by the FAANG (Facebook, Amazon, Apple, Netflix, Google) tech behemoths going forward, making Bitcoin the better bet.
âNow do I think Apple, Amazon, Facebook or Google are going to go up by a factor of 10 from this point? Not really. I think theyâre plus 20, minus 20, plus 100⊠maybe they will double, maybe they will triple.â
Saylor adds that Bitcoinâs potential became far easier to understand following the economic fallout and increase in money printing that began early last year.
â[Bitcoin] got to be a much easier trade in March of 2020. And every month since March of 2020, itâs been de-risked exponentially, and then the need is exploding.â
In other trending Bitcoin News today:
Bitcoin Falls to Two-Week Lows as $6 Billion In Options Set to Expire â Whatâs Next?
Bitcoinâs (BTC) price has been in retreat, down 20% since the recent all-time high at $62,000 in mid-March. As crypto markets are frequently volatile, this may very well be another normal pullback within the current bull cycle.Â
Corrections are needed to generate strength for further upward momentum as markets canât go up in a straight line. Additionally, a record $6 billion expiration of options is expected on March 26, which often brings some volatility.Â
It is also quite common for the marketâs momentum to shift momentum once the options expiration date comes and goes.
The 4-hour chart shows an apparent downtrend since the recent all-time high at $62,000 with bearish support/resistance flips.Â
Regardless, Bitcoinâs price has rejected the critical resistance zone at $56,500 in the latest rally after Tesla announced it has started accepting (and holding) BTC in the United States for its vehicles.Â
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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.
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Bitcoin Price Is Likely to Plunge to #post_titleK, Says Silk Road Founder | BTC Halving 2020 Countdown
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Forget about $100,000. âDread Pirate Robertsâ Ross Ulbricht expects the Bitcoin price to plunge to $1K before another bull run.
Ross Ulbricht, the founder of the infamous Silk Road dark web marketplace, has spotted âa strong signalâ for lower BTC price.
According to his new price analysis that relies on the Elliott Wave theory, the Bitcoin (BTC) price could plunge to as low as $1,200.
Ulbricht states that BTC is currently in the last stage of its first cycle degree bear market. Wave II is comprised of three primary-degree waves, with wave C being the largest one.
It is not clear how low wave II can go, but Ulbricht notes that the two previous bear markets resulted in 86 percent and 94 percent drawdowns, which means that there is more pain in store for the bulls. Hence, he notes that a similar price plunge could take Bitcoin all the way down to $1,200.
According to Ulbricht, itâs hard to estimate the duration of this bear market, but, based on the historical data, it could end this June.
âEstimating the extent and duration of wave II is difficult and imprecise. There is no limit to how low it can go (except $0) because wave I started at $0.â
Ulbricht also says that Bitcoin could invalidate this bearish scenario is its price surges back above $14,000 (its 2019 high). However, this turnaround seems âunlikely to him.â â
If the price rises above the peak near $14,000, we will have to reevaluate our interpretation, but at this point that seems like a very unlikely scenario.â
Back in December, Ulbricht predicted that BTC could surge to $100,000 in 2020, but the drop below the start of wave 2 ($4,200) on March 12 made such a bullish scenario improbable.
However, if BTC were to drop to this level, Ulbricht would view it as a âmajor buying opportunityâ before the start of wave 3.
Bitcoin (BTC) Halving Searches Breakout With Biggest Event in Crypto Just 30 Days Away
The Bitcoin halving countdown has reached the one-month mark with estimates targeting 29-31 days left to go.
The BTC halving event will reduce the amount of new Bitcoin entering the circulating supply by dropping mining rewards by 50%.
The event has triggered increasing interest as central banks resort to money printing to counter the economic blow of coronavirus.
âBitcoin halving countdownâ, âBitcoin halving price chartâ and âBitcoin halving clockâ are all currently trending on Google as breakout searches in the US. âBitcoin halving predictionâ, âBitcoin halving price predictionâ and âBitcoin halving 2020â are all breakout searches worldwide.
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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://medium.com/@RossUlbricht/bitcoin-by-ross-9-a-strong-signal-for-lower-prices-87d2cdcdba95
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