BITCOIN CAN HIT $147K BY MID-MAY IF BTC REPEATS THIS PATTERN!! ETHEREUM (ETH) BULLISH PRICE TARGET!!

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Tone Vays, the well-known BTC derivatives trader, believes the Bitcoin price will stay above $10,000 for the rest of 2020. 

At the start of the year, Vays said he was skeptical the BTC price would break $20,000 in 2021 but now he thinks it’s possible for the top cryptocurrency to overtake its record all-time high.

If the price of Bitcoin surpasses $20,000 in the medium-term, Vays said history shows it tends to double.

Based on the historical price cycles, he said the $45,000 to $50,000 range is a reasonable target.

During an interview with IGTV, Vays said:

“Every time Bitcoin breaks a prior all-time high, especially when it takes years to break that all-time high, it tends to usually more than double. So I think $45,000 to $50,000 is a reasonable target.”

Throughout 2020, Vays said Bitcoin would likely stay above $10,000 and gear towards $20,000 the following year.

He noted:

“In the beginning of the year, I thought that even next year would be a struggle to break $20k. Now I think it’s pretty likely that we’ll break $20k next year.”

As on-chain analysts have said throughout August, the $10,000 area has become a strong support level for Bitcoin.

As long as a key psychological level at $10,000 is intact, an extended uptrend becomes more likely.

Vays also drew a comparison between Bitcoin and gold. He emphasized that gold broke its all-time high and saw a 5% upside past its previous high fairly quickly. 

The trader explained that Bitcoin could do something similar over the medium to long-term when it breaks its previous all-time high at $20,000. He stated:

“We are watching what’s happening with gold right now. Gold finally broke its all-time high, that it made ten years ago, just recently, and it went already $100 past that. So it went 5% more fairly quickly. So let’s see how fast gold goes up since breaking all-time high, and Bitcoin can do something similar.”

How far could Bitcoin go?

Various price models predict the price of Bitcoin to reach anywhere between $30,000 to $250,000 in the long-term. 

According to Vays, he would be satisfied if the next top of Bitcoin is at around $45,000.

Historically, Bitcoin has seen a major breakout past its previous record high, reach a new peak, then correct.

A rapid upsurge to unsustainable price levels could leave BTC vulnerable to sharp drops. He added:

“Do we think we go as high as $100,000? I’m not willing to make that statement. For me, I would be happy if the next top was around $45,000, and that can happen quickly.”

In other trending Bitcoin News today:

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

Bitcoin price recently set a new high for 2020 but has since pulled back to just under $12,000.

However, the cryptocurrency is slightly “ahead of schedule,” according to a top crypto expert and former Google engineer.

Because the asset is further beyond in its cycle “trajectory,” it could mean that there’s still more downside to go before the bull run picks up in steam.

In the end, however, it doesn’t matter, as the same projection brings the cryptocurrency to a peak of over $325,000 in under two years.

According to the crypto expert, if the cryptocurrency was following the last cycle exactly, the price per BTC should be trading around roughly $10,800.

Currently, BTCUSD is trading roughly $1000 higher following a pullback that began after setting a local high at $12,400.

If Bitcoin continues to follow this path, and it has thus far, the next peak would arrive sometime around October 19, 2021.

The target? $325,000.

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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:

If we were to follow the 2016/17 trajectory (we’re ahead of schedule right now), the peak of the cycle would occur on October 19th, 2021 and the peak price would be approximately…

$325,000 👀

— Vijay Boyapati (@real_vijay) August 19, 2020

Stats showcasing crypto growth in 2020– Crypto market cap +95% – Stablecoin market cap +185%

– $BTC +65%

– $ETH +220%
– $LINK +800%– BTC futures OI +50%– BTC options OI +560%– BTC CME futures OI +660%– BTC CME futures OI (in BTC) +360%

– Total value locked in DeFi +900%

— Alex Krüger (@krugermacro) August 20, 2020

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

https://grayscale.co/wp-content/uploads/2020/08/Grayscale_Valuing_Bitcoin.pdf

https://cointelegraph.com/news/grayscale-bitcoin-market-looks-like-2016-before-historic-bull-run

https://cointelegraph.com/news/50k-bitcoin-is-reasonable-if-btc-hits-new-highs-says-tone-vays

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Bitcoin analyst Willy Woo is outlining why he believes BTC is a significant advancement in the history of money. 

Woo, who earlier this week said Bitcoin whale movements are signaling a bottom, maps out why he believes BTC is reinventing the monetary system. 

Believing that Bitcoin is the future of money, Woo expects BTC to reach $1 million per coin in the future.

“Dan Held is calling this a supercycle. I’m thinking this might be the last cycle. Meaning, at this point, Bitcoin doesn’t see this very strongly imprinted four-year cycle, and we do more of a random walk, and it’s highly correlated to macro, and we just random walk all the way up to a million dollars in a few years…”

In other trending Bitcoin News today: Bitcoin and Ethereum Ripe for Big Breakouts, According to Popular Crypto Analyst!

A popular crypto analyst and trader believes that Bitcoin (BTC) and Ethereum (ETH) are poised for huge breakouts amid the bearish sentiment in the digital asset markets.

The pseudonymous analyst known in the industry as Smart Contracter, tells his 154,900 followers that Bitcoin is forming a bullish pattern indicating that a move to the upside is on the horizon.

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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-rebounds-from-33k-support-as-us-dollar-inflation-comes-back-into-focus

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The Bitcoin price will rise exponentially until “it’ll get almost impossible to buy BTC as price rockets higher” Max Keiser has announced.

Speaking to Express.co.uk, RT host of the Keiser Report, Max Keiser said: 

“The 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. 

This is why I think institutions that are buying Bitcoin will do so directly from miners and the public won’t have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 per BTC.”

“Meanwhile, 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.”

Studying the daily demand for Bitcoin from the world’s 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: “This is amazing, the daily demand from these four is 2,600 Bitcoin, but the daily supply from mining is only 900 Bitcoins.”

This Bitcoin prediction of an escalating price was also echoed by Dan Morehead, the CEO of Pantera Capital, who said: 

“The first investment firm in the US to launch a digital currency, pre-auction ICO, and blockchain-enabled venture funds. 

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? That’s where the finite-supply, inelasticity part comes in, at a higher price.”

Bitcoin expert Dan Held gave a list of the financial institutions “and trading legends” that recognize Bitcoin is the new gold.

Mr Held tweeted the following names and institutions, “Fidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmiller”.

A follower of Mr Held tweeted: “Bitcoin will divide people into two groups. In those who have it and those who want it.”

In other trending Bitcoin News today:

“BlackRock Chief Investment Officer Says Bitcoin Will Overtake $10 Trillion Gold As Primary Store of Value”

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 aren’t going anywhere.

“I think cryptocurrency is here to stay and I think it is durable and you’ve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennials’ receptivity to technology and cryptocurrency is real. Digital payments systems is real so I think Bitcoin is here to stay.”

The BlackRock executive highlights why he believes Bitcoin will overtake gold as the go-to store-of-wealth asset.

“Do I think it will take the place of gold to a large extent? Yeah, I do because it’s so much more functional then passing a bar of gold around.”

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. 

Also, the BlackRock CIO says he’s 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

— PlanB (@100trillionUSD) November 22, 2020

https://www.express.co.uk/finance/city/1363025/Bitcoin-price-news-update-latest-rocketing-surging-big-institution-banks-buy-directly-mine

https://cointelegraph.com/news/bitcoin-price-dips-below-18k-time-to-watch-these-whale-cluster-support-zones