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Popular crypto analyst Michaël van de Poppe reveals that he is still standing by his peak high bull cycle prediction for Bitcoin, Ethereum, as well as 6 other top altcoins including Polkadot, Chainlink, Cardano, Zilliqa, Elrond and DIA.
In other trending Cryptocurrency News today: Ethereum Primed for 500% Explosion, Says Crypto Trader Lark Davis – Here’s Why!
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BITCOIN PRICE PUMPS 20%, ARE BULLS RUNNING INTO A TRAP?
With the BTC price registering gains of over 20% in the last 24 hours, many holders are getting excited.
But, it seems that the jury is still out on just how positive this latest pump is.
Could the bulls be running into a trap?
Bitcoin analysts can’t agree on whether this latest pump will keep seeing BTC price soar.
Some seasoned traders are celebrating Bitcoin’s decoupling from the stock market while others are calling for caution.
Indeed, throughout its 11-year trajectory, bitcoin price has widely been regarded as uncorrelated with the stock market.
We’re all well-versed in the safe haven narrative and comparing bitcoin to gold.
As stock markets plunge, Bitcoin has often held its own or even swung to the upside.
However, just days ago, that narrative appeared to have been called sharply into check.
The cryptocurrency market experienced a major sell-off alongside the S&P 500.
While there is a generally positive vibe in the air (at last), some traders are calling for caution.
After all, we’ve been burned before. This could be another liquidity grab before the next major downswing.
That said, many seem to be in agreement that the key support level bitcoin price needed to flip was $6400.
Both Josh Rager and CryptoBirb cited the $6,400 level as crucial.
CryptoBirb even went as far as to predict that bitcoin price could bounce all the way back to $7,600 as there is “little resistance between 6.4k and 7.6k.”
Rager also points out though, that even breaking $6.4k, stocks selling off is not bullish for BTC. Coinbase also warns that if the S&P 500 correlation sustains again in the future, “Bitcoin will enter uncharted territory.”
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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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I can not express how bullish I am on bitcoin. We are at risk of losing the entire system right now. I know they will find a way to save it but all trust is lost.
Gold guys/girls – you’ll be fine too. It’s just that $BTC has bigger upside, by far but is riskier than gold
— Raoul Pal (@RaoulGMI) March 19, 2020
$btc tapping ex-range lows flipped to resistance. Positive for bulls is that there is little resistance between 6.4k and 7.6k
Intraday consolidation breakout retest towards 5.4-5.6k would be the most healthy to confirm price action is slowly recovering after Friday 13th PTSD lol pic.twitter.com/6u1fUZjpU6— Crypto₿irb (@crypto_birb) March 20, 2020
$BTC rejected off the point of control (highest traded volume price) – a level that we saw act as support twice before the breakdownFor me to start to feel bullish, price needs to flip at least $6400 on high time frames
Even then, stocks selling off is not bullish for BTC pic.twitter.com/CjrlzqZtRe
— Josh Rager 📈 (@Josh_Rager) March 20, 2020
https://cointelegraph.com/news/raoul-pal-super-bullish-on-bitcoin-price-after-miraculous-80-rebound
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Bitcoin Price Plunges to ,700! | BTC Quarterly Performance
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The Bitcoin price (BTC) has dropped by more than 25 percent in the past two weeks and is again flashing red, having hit a 3.5-month low earlier today and is on track to post the first quarterly loss of 2019.
Are Altcoins ready to explode?!
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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.
News Resources From Today’s Show:
https://www.ccn.com/bitcoin-price-7700-bloody-monday/
Bitcoin Price Eyes Quarterly Loss After Hitting 3.5-Month Low
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BITCOIN HAS BEEN A MONSTER FROM BITCOIN HAS BEEN A MONSTER FROM $1 AND NOW HEADING TO $400K SAYS MAX KEISER! BTC APOCALYPSE SURVIVAL AND NOW HEADING TO 0K SAYS MAX KEISER! BTC APOCALYPSE SURVIVAL
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“Bitcoin has been a monster from $1 to $11,000 and is now heading to $400,000”, says BTC pioneer Max Keiser, RT host of the Keiser Report.
When asked about a timeline for his bullish $400K Bitcoin price prediction, Max responded,
“It all depends upon how fast the dollar collapses, BTC has no top.”
Max says Bitcoin has no top because the US dollar has no bottom and when it comes to investing…
“You want hard money, something they can’t print.”
In other trending Bitcoin News today:
Apocalypse Survival Requires 1 BTC…
Says Joe Rogan Guest Celebrity and podcaster Adam Curry described the importance of Bitcoin to podcaster and comedian Joe Rogan.
He posited the asset’s importance amid an internet-based world which thrives on personal data sales, banking activities, and centralized control.
“The apocalypse is coming, and you’re gonna need a Bitcoin — at least one,” Curry said in a Sept. 8 interview with Rogan.
“Are you a Bitcoin salesman, Adam Curry?” Rogan responded, put off at first by the comment.
“I was very anti-Bitcoin, until I sold a s***load of them at like $900,” Curry said said, noting he acquired a stack of the asset in its early days. “I got them for nothing,” he said, adding:
“People just gave them to me in the beginning and I denied it.”
He then referenced the industry’s progress over the last decade, including mention of altcoins.
Rogan responded, opening an age-old can-of worms. He asked Curry why BTC remains in the number one go-to position among thousands of other crypto assets, wondering if another asset will overtake the asset’s spotlight.
“Ten years of data have shown that Bitcoin really is the only one that you can trust,” Curry said, referring to the asset’s resistance against manipulation and its trail-blazing technical makeup.
Much talk of a flippening — a digital asset overtaking Bitcoin’s market cap — has come and gone over the years, but no asset has yet achieved such a feat.
In other Crypto news today:
BITCOIN CLOSING ABOVE THIS LEVEL COULD TRIGGER A MOVE BACK ABOVE $11,000
Bitcoin has flirted with a recovery ever since it hit $9,800 late last week.
The leading cryptocurrency currently trades at $10,250, but traded at both $9,900 and $10,400 over the past few days.
A crypto analyst believes that the cryptocurrency closing above $10,450 could trigger a recovery to $11,200. $11,200 is 9.2% above the current price and 7.1% above the validation point of this bullish theory.
“No candle has closed below 10.100 in 7 days, good work of the Spartans. Now bulls need to close above to 10.450 to “confirm” a up move to 11.2k.”
This trader isn’t the first to have assigned importance to the resistance in the $10,450 region.
A historically accurate analyst thinks that Bitcoin moving above $10,500 could trigger a textbook Wyckoff Accumulation pattern.
That pattern, should it play out, will take BTC back into the $11,000-12,000 range as the above analyst also suggested.
Analysts still think that macroeconomic trends favor Bitcoin’s growth in the longer run.
Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, recently wrote on the matter of BTC’s price action:
“Gold at $1,900, Bitcoin $10,000 Return to Decisive Support Zone – Some overdue mean reversion in the stock market is pressuring most assets, but we expect gold and Bitcoin to come out ahead in most scenarios. Declining equity prices encourage more monetary and fiscal stimulus…”
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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:
BOOMERS had it easy. Plenty of jobs-low cost real estate-rising stock market. MILLENNIALS have it hard. 9/11, 2008 real estate crash-now Covid-19. Good news. Millennials tech savvy. Boomers not. Bitcoin-Block chain-Digital currencies give Millennials head start into the future.
— therealkiyosaki (@theRealKiyosaki) September 9, 2020
#Gold at $1,900, #Bitcoin $10,000 Return to Decisive Support Zone – Some overdue mean reversion in the stock market is pressuring most assets, but we expect gold and Bitcoin to come out ahead in most scenarios. Declining equity prices encourage more monetary and fiscal stimulus.. pic.twitter.com/8dkJ2vdkdg
— Mike McGlone (@mikemcglone11) September 9, 2020
Bitcoin Closing Above This Level Could Trigger a Move Back Above $11,000
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