$450K BITCOIN PEAK HIGH PREDICTION THIS CYCLE SAYS TOP ANALYST!! ETHERUEM PRIMED FOR 500% EXPLOSION!

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The Bitcoin price dropped below $34,000 as traders look to the next key levels of support. In the near term, the major macro level for BTC and Ethereum remain at $30,000 and $2,000, respectively. According to traders like TraderKoz, if Bitcoin can remain above $37,000 throughout the weekend and recover to around $37,500, the chances of overtaking $42,000 become high.

In other trending Bitcoin News today: Will Bitcoin Still Hit $100,000? Crypto Analyst PlanB Analyzes the State of BTC Market. In a new interview with trader Scott Melker on The Wolf of All Streets, PlanB emphasizes he believes that his stock-to-flow models, which predict that Bitcoin will eventually hit $100,000 or $288,000, are still intact.

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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/bitcoin-price-slips-below-34k-what-are-the-key-levels-to-watch

💰 Crypto’s Next $1 Trillion Coin: http://teeka.cryptonewsalerts.net

Bitcoin still gets criticized for being too volatile, but one Bloomberg analyst believes that BTC is conversely becoming a “risk-off” choice for investors.

In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency and that a $400,000 Bitcoin price would ‘rhyme’ with history.

McGlone uploaded a chart of the BTC/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use.

“Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view,” he wrote.

A potential price peak this year, with previous behavior as context, could be as much as $400,000 per bitcoin, the chart shows. This dwarfs other estimates, such as that of stock-to-flow, which calls for an average of $288,000 between now and 2024.

While McGlone did not provide exact details of the factors behind Bloomberg’s view, the idea of Bitcoin reducing, rather than increasing portfolio risk is the talking point of the year among corporates. New reports of treasury allocations to BTC appear frequently, with appetite unfazed by price action.

“My mission right now is to fix the balance sheets of the world,” Michael Saylor, CEO of MicroStrategy, one of the largest Bitcoin treasury investors, said in an interview with TIME this week.

In other trending Bitcoin News today:

Here’s How Bitcoin Dolphins, Sharks and Whales Are Playing the Crypto Markets, According to Top Analyst Willy Woo

On-chain analyst Willy Woo is providing his take on how large Bitcoin (BTC) holders are attacking the market.

As Bitcoin takes a dive to the low $50,000 range this week, new crypto whales are entering the market, according to Woo.

“Some bearish scares over whales selling down, here’s more complete picture. Chart: BTC held by dolphin/shark/whales (100-10,000 BTC).

Whales becoming dolphin/sharks, new buyers coming in, cohort is still accumulating, they usually sell in the middle of the bull run. Still bullish.”

Woo points out that although it may appear as though whales have been parting with their BTC at an alarming rate causing the recent sell-off, the Bitcoin being sold on the market are newer supplies likely held by entities that are taking profits after the largest crypto asset’s huge run up.

“This is a new species of whale; hedge funds. Likely selling down for end of quarter rebalancing after such a good run from $10,00 BTC last year. Doesn’t look like the typical OGs selling (which they do on every bull season rally). The coins being sold lately are relatively young.

Bitcoin addresses are forensically clustered into wallets held by individual participants before extracting this view. Beware that looking at just raw address balances, which I’ve seen posted elsewhere can be misleading.”

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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:

#Bitcoin in Transition to Risk-Off Reserve Asset: BI Commodity — Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view. pic.twitter.com/Ycr1LSqEAJ

— Mike McGlone (@mikemcglone11) March 26, 2021

A Tesla is the new pizza

10 years from now people will be amazed that someone spent a whole #Bitcoin for a Tesla

— Max Keiser (@maxkeiser) March 25, 2021

Law of averages gives #Bitcoin an $83,000 price target for April.

Avg over 10 years in April +51%

— Danny Scott (@CoinCornerDanny) March 27, 2021

Pizza Day 2.0: Buying A Tesla With Bitcoin Could Be A Mistake

https://cointelegraph.com/news/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg

https://cointelegraph.com/news/stock-to-flow-creator-doesn-t-think-bitcoin-s-bull-market-is-done

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Bitcoin Gigachad and MicroStrategy chief executive Michael Saylor predicts hundreds of trillions of dollars worth of investments will flow into BTC which can push the BTC price to as high as $14 million per coin.

Saylor ballparks that between $100 trillion and $300 trillion could seek a store of value in Bitcoin, and that’s just in today’s money. If Bitcoin were to reach the $300 trillion market cap Saylor outlines, that would bring each BTC to more than $14 million.

“So ultimately, the amount of monetary energy in the world that’s looking for a safe haven store of value, has got to be between $100 trillion and $250 trillion. Why not all of it? Why not $300 trillion or $350 trillion? The total sum of everything…

In theory, all monetary energy that’s simply looking for a store of value safe haven index should presumably drain out of real estate, cash, stocks and bonds into the Bitcoin network and as that happens the price discovery will return to real estate and bonds… 

The top is more than $100 trillion, it’s somewhere between $100 trillion and $300 trillion in today’s money.”

In other trending Bitcoin News today: El Salvador purchases first 400 BTC, President Bukele confirms!

El Salvador President Nayib Bukele confirmed Monday that his government has purchased its first 400 Bitcoin ahead of the Tuesday rollout of a new law set to make the cryptocurrency legal tender. 

“Our brokers will be buying a lot more as the deadline approaches,” Bukele said, referring to the Tuesday, Sept. 7, timetable for fully implementing the new BTC legislation.

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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/republic-of-panama-introduces-bill-for-regulating-crypto

https://cointelegraph.com/news/el-salvador-purchases-first-200-btc-president-bukele-confirms

https://cointelegraph.com/news/btc-price-further-crushes-resistance-nears-53k-on-el-salvador-bitcoin-day