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Since the Bitcoin price tapped $6,500 in late-November, analysts have been wondering if the bottom is really in.

The BTC price bounced by 20% from $6,500, hitting $7,850 just a week after that.

Now, Bitcoin (BTC) is currently trading at just above $7,500, seemingly trying to establish a market trend for the coming week.

While some say that Bitcoin’s inability to move past the resistance in the high-$7,000s is decisively bearish, an analyst has said that the odds are leaning in the favor of bulls.

Why BTC Could Jump 15%: Popular trader Mr. Chief (or Halo Crypto) recently noted on Crypto Twitter that the cryptocurrency ball is finally entering the court of the bulls.

He noted that the inverse chart of Bitcoin has shown that the cryptocurrency has broken below (meaning above) a key trend line that has been in place for over six weeks.

The asset is also situated in a descending channel (actually an ascending channel) that implies a move to $8,500 is “definitely on the table.”

A move to $8,500 would mark a 15% rally from current price levels. Also Adaptive Capital’s Willy Woo, a popular on-chain metrics analyst, noted on Dec. 7 that a proprietary indicator his fund uses is implying that the usage of the Bitcoin network is implying that bulls will soon gain the upper hand again:

“On-chain momentum is crossing into bullish [territory]… The bottom is most likely in, any [move] lower will be just a wick in the macro view.”

In other Crypto news today,

Deutsche Bank Research: Crypto to Replace Fiat Currencies by 2030 By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank.

In the “Imagine 2030” report, Deutsche Bank strategist Jim Reid raised awareness of the challenges the existing fiat system has encountered in recent years, specifically with the emergence of cryptocurrencies.

Reid stipulated that people’s heightened demand for dematerialized means of payment and anonymity could drive more individuals to digital currencies.

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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:

On-chain momentum is crossing into bullish. Prep for halvening front running here on in. Can’t say what this indicator is, as it’s proprietary to @AdaptiveFund, but it tracks investor momentum. The bottom is mostly likely in, anything lower will be just a wick in the macro view. pic.twitter.com/WqiPRpweUv

— Willy Woo (@woonomic) December 7, 2019

15% Jump to $8,500 on the Table for Bitcoin Price; Analyst Explains Why

https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

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Two years ago, venture capitalist and noted Bitcoin investor Tim Draper publicly stated that BTC will hit $250,000 by 2022.

Yet, as Bitcoin continues to gain interest from investors, Draper revealed to Cointelegraph during an interview that a $250,000 price prediction may have been conservative:

“I think it’ll certainly hit that. But a lot of people are thinking that $250,000 was a little too conservative.” 

Draper also discussed the impact of the COVID-19 pandemic on the blockchain space, noting that tokenization will play a major role in solving problems related to global shipping and real estate.

Additionally, Draper shared his thoughts on decentralized finance, or DeFi, saying he wants to “‘DeFi’ the venture capitalist business” moving forward.

CT: Right now, the world is in the midst of a crisis. Which technological breakthrough will help humanity come out stronger on the other end? 

TD: Tokenization will advance. We’re seeing it in real estate, global shipping and in everything where items of value need to be moved between parties.

Now, these items can be transferred over the internet, which is so useful for industries like real estate and global shipping.

In the case of real estate, you could buy a piece of my house, or you could tokenize my real estate and own a piece of that property without having to buy the whole thing. 

Tokenization and shipping is also a great way for people to own containers to keep track of the entire Iot.

I think we’re going to see some extraordinary breakthroughs in shipping and also with any kind of logistic use cases.

CT: And are you still sticking with your prediction that Bitcoin will hit $250,000 by 2022?

TD: Yes, Bitcoin will hit $250,000 by 2022 or the beginning of 2023. That $250,000 is really based on a 5% market share of currencies.

I think that’s easily achievable, especially as more women start using Bitcoin, since they control 80% of retail spending. It’s really interesting that there used to be one in 15 Bitcoin wallets that women held, and now it’s advancing.

As women start using those wallets, they’ll realize this is much easier. I moved as much of my money as I felt fair into Bitcoin. And so, yes, I think it’ll certainly hit that, but a lot of people are thinking that was a little too conservative.

In other trending Bitcoin News today:

Bitcoin Price Hits $14,000 Exactly 12 Years After Whitepaper Released

The price of Bitcoin has surpassed the critical $14,000 mark, the highest level since January 2018.

The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008.

Since then, the world’s biggest cryptocurrency has seen remarkable and exponential growth across various areas.

Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory.

An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid.

The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle.

Every four years, Bitcoin undergoes a block reward halving, which cuts the rate at which new BTC is mined by half.

This happens because 21 million BTC can ever exist on the blockchain.

As BTC approaches its fixed supply, the rate of production gets slowed.

A halving historically has had a positive impact on the price of Bitcoin.

It reduces the pace a new BTC supply is introduced to the market.

Consequently, every four years, there is less BTC flowing into the exchange market.

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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:

Compared to the past ($1, $10, $100, $1K, $10K), we will see a short insane mania fomo peak above $100K. It’s impossible to say how high exactly. Anything between $120K and $220K I guess, based on these previous tops.https://t.co/LxYLwAJM7o

— Bit Harington (@bitharington) October 31, 2020

$15,000 by Monday #Bitcoin

— Max Keiser (@maxkeiser) October 30, 2020

Tim Draper wants to “DeFi venture capitalism,” also noting that Bitcoin will hit $250 thousand in the coming years thanks to consumer adoption. https://t.co/lrb1zJhM1s

— Cointelegraph (@Cointelegraph) October 30, 2020

https://www.wsj.com/articles/cash-is-trash-so-lets-bet-425-million-on-bitcoin-11604070071

https://cointelegraph.com/news/tim-draper-seeks-to-defi-the-venture-capital-business-with-bitcoin

https://cointelegraph.com/news/bitcoin-price-hits-14-000-exactly-12-years-after-whitepaper-released

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Blockchain investment firm Pantera Capital says Bitcoin looks like it will break the $100,000 level sooner than they originally forecasted.

In a new letter to investors, CEO and co-chief investment officer Dan Morehead notes that when BTC plummeted in March of 2020, he assured investors that it would set a new record within 12 months as institutional investors started making allocations.

“It took a few months to stabilize. A few months for the rally to build steam. Now it’s full on. My instinct from trading many cycles over 35 years is that crypto prices are going to melt-up. We’ll see much higher prices before this cycle is over.”

Morehead says Bitcoin is now rallying ahead of Pantera’s original projection. The CEO of the blockchain investment company highlights that as of March 15th, 2021, BTC is already three weeks ahead of schedule based on an analysis of the BTC stock to flow ratio (S2F) after the third halving.

Bitcoin broke the $60,000 mark on March 13th, exceeding Pantera’s original prediction of $52,943 for March 15th, 2021. Morehead concedes that BTC is outpacing their forecast and is now on track to reach $115,000 in a few weeks.

“Bitcoin is now ahead of our April 2020 forecast schedule — to hit $115,000 this summer.”

According to the firm, exposure to Bitcoin and the digital asset space has allowed their performance to skyrocket. Morehead also mentions the outstanding performance of the decentralized finance (DeFi) sector.

“Since publishing our March 2020 investor letter, which outlined our core thesis that unlimited money printing will push up the price of things whose quantity cannot be eased, Pantera Funds are up immensely.

In addition, the power of DeFi is emerging in the returns of our hedge funds. DeFi assets are out-performing even the remarkable performance of bitcoin.

We believe we are at the beginning of a multi-decade transformation.”

In other trending Bitcoin News today:

Rich Dad Poor Dad Author Says He’s Buying Bitcoin and Ethereum, Economy Is Screwed

Rich Dad Poor Dad author Robert Kiyosaki says he is racing to buy Bitcoin, Ethereum, and precious metals as the economy weakens.

In a new Rich Dad Radio Show podcast episode, the best-selling author and entrepreneur says that while he does not wish to argue over which store of value asset is superior, he is currently scrambling to own as much BTC, ETH and gold as he can.

“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’ Just get as much as you can right now because the government is screwed. We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”

Last year, Kiyosaki predicted Bitcoin would break the $50,000 level in 2021. He said that this bet wasn’t necessarily based on the strength of Bitcoin, but in the weakness of the US economy and government.

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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:

Anyone who says “money doesn’t make you happy” is sick puppy who has never been broke. Money is a drug. It makes people happy. Problem is when drug wears off people get unhappy. Buy gold silver Bitcoin real money and stay happy.

— therealkiyosaki (@theRealKiyosaki) March 21, 2021

Saw some people freaking out about this drop of #Bitcoin and #altcoins.

Yes, altcoins drop further than $BTC due to the correlations.

And dips are interesting to accumulate.Corrections are healthy and organic.Stop zooming in on the charts and relax.

It’s still bull.

— Michaël van de Poppe (@CryptoMichNL) March 21, 2021

Pantera Capital Says Its Big Bitcoin Price Prediction Is Ahead of Schedule

https://cointelegraph.com/news/bitcoin-price-slides-5-after-failing-to-break-60k-here-s-why