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Right now, with the Bitcoin market cap sitting just under $1 trillion, BTC is only a very tiny fraction of the worldâs assets combined. So in the grand scheme of crypto, this is why many analyst believe weâre still so early.
âIf Bitcoin captures just 5% of the market cap of other assets on this chart, itâll be worth over $2M/coin.â
In other trending Bitcoin News today: Bitcoin bears lack âballsâ to continue selling into 2022!
BTC bears will probably be too âstonelessâ to keep prices down much longer, fresh Bitcoin price analysis argues.
In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoinâs recent 39% correction.
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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/billionaire-investor-bill-miller-puts-50-of-net-worth-in-bitcoin
https://cointelegraph.com/news/world-s-biggest-podcaster-joe-rogan-has-a-lot-of-hope-for-bitcoin
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BITCOIN HITTING 0K BY DECEMBER IS NOW âCONSERVATIVEâ SAYS TOP CRYPTO ANALYST WILLY WOO!!
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Bitcoin hitting $300,000 per BTC in just one yearâs time is ânot out of the question,â popular statistician Willy Woo says.
In a series of tweets on Dec. 1, Woo stated that he has ânever been so bullishâ on Bitcoinâs prospects for 2021.
Discussing potential Bitcoin price trajectory, he confirmed that he was looking at six figures by December next year.
âMy Top Model suggesting $200K per BTC by end of 2021 looks conservative, $300K not out of the question,â one post read.
âThe current market on average paid $7456 for their coins. You all are geniuses.â
Woo used his technical Top Cap metric to deliver the forecast. Despite being what his analytics website Woobull calls âexperimental,â Top Cap has accurately matched price tops in the past.
Continuing, he eyed the decreasing amount of BTC held on spot exchanges as a sign that bullish price action would be catalyzed in the coming twelve months.
âIâve never been so bullish for 2021,â he wrote.
âThis re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.â
Lastly, the dollar gain in Bitcoinâs market cap for each dollar invested this cycle has outpaced the 2013 and 2017 bull runs.
âAll pointing to reflexivity increasing; an amplified 2021 bullish feedback loop,â Woo concluded.
Is anyone bearish on 2021?
As Cointelegraph reported, Woo is far from alone in his optimistic outlook for post-2020 Bitcoin.
Sky-high price predictions have come thick and fast over the course of the past two months, with quant analyst PlanBâs $100,000 December 2021 estimate now looking decidedly modest.
Beyond technical circles, familiar figures such as serial investor Mike Novogratz have begun taking price predictions to the mainstream. In the case of Novogratz, he told actress Maisie Williams last month that BTC/USD would head to $20,000 and then to $65,000. Williams subsequently invested.
This week, meanwhile, a giant $590,000 price forecast came courtesy of the Realized Profit/ Loss metric, which has returned to its classic bull run launch position.
In other trending Bitcoin News today:
Bitcoin Moves $500K Around The Globe Every Second, Says Samson Mow
Samson Mow, chief strategy officer at Blockstream, says Bitcoin was never about âtransactions per second and coffee,â but about value and a ânew financial paradigm.â
Blockstreamâs Samson Mow wants to move the conversation away from Bitcoinâs (BTC) performance in transactions per second and toward its role in ushering in âa new financial paradigm,â that is, serving as a permissionless medium for the store and transfer of value.
âBitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. Itâs all about value transacted per second and a new financial paradigm. VTPS not TPS. Nothing comes close to BTCâ
Mowâs argument is that âVPTS [value transacted per second] not TPS [transaction per second]â is what really counts. Calculations for the video were reportedly made using on-chain data by the editor of the Blockstream engineering blog, who goes by âGrublesâ on Twitter.Â
The editor similarly tweeted that âBitcoin scales just fine. 1 BTC can store an infinite amount of value.â
The video, according to a follow-up tweet from Mow, âwas inspired by a stupid XRP marketing video comparing their sh*tcoinâs TPS [transaction per second] to Bitcoinâs.â
Blockchain.com data shows that as of Dec. 1, the total estimated value of transactions on the Bitcoin blockchain was estimated at $4.627 billion. This figure hit $5.15 billion, close to its all-time-high, on Nov. 5.
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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:
Views on 2021 (THREAD):My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.
The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b
â Willy Woo (@woonomic) December 1, 2020
#Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It’s all about value transacted per second and a new financial paradigm. #VTPS not #TPS. Nothing comes close to @BTC. đ pic.twitter.com/aXfDauPx9b
â Samson Mow (@Excellion) December 2, 2020
https://cointelegraph.com/news/why-one-analyst-says-bitcoin-is-on-the-cusp-of-busting-through-20k
https://cointelegraph.com/news/bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow
https://cointelegraph.com/news/bitcoin-hitting-200k-by-december-2021-is-now-conservative-willy-woo
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BITCOIN OPTIONS TRADERS TARGET $80,000 BY MAY!! HEREâS WHEN THIS BTC BULL RUN WILL LIKELY EXPIRE!!
đ° Cryptoâs Next $1 Trillion Coin: http://teeka.cryptonewsalerts.net
With Coinbaseâs highly anticipated direct listing IPO expected to take place next month, options traders appear to be betting that the Bitcoin price will once again soar to new all-time highs in the coming weeks.
On March 24, the founders of crypto analytics firm Glassnode tweeted data suggesting that options traders on peer-to-peer crypto derivatives exchange, Deribit, are loading up on contracts set to expire on April 30 with a BTC strike price of $80,000.
Contracts worth a notional value of 4,000 Bitcoin have been purchased targeting the price-point in total, more than any other strike-price by at least 50%.
Should the price be less than $80,000 at the end of April, the contracts will expire worthless, indicating high conviction that the Bitcoin markets are still a long way from topping out among derivatives traders.
However, according to crypto derivatives data aggregator Skew, probability estimates based on market data for the April 30 contract suggests there is just a 6.19% chance of BTC prices being above $80,000 when the positions mature.
Significant volume has also converged around the contracts with a strike price of $120,000, meaning some traders believe the Bitcoin price will more than double over the next five weeks. Skew estimates it is only 2.15% likely Bitcoin will reach $100,000 by the April 30 expiry date.Â
However, with many options traders building positions across multiple contracts bearing divergent strike prices, some of the traders betting on $80,000 or $120,000 may not expect prices to get that high.
Skewâs data shows that contracts for April 30 are currently the third-most-popular among options traders, with open interest currently equating to a notional value of 38,700 BTC.
June 21 contracts rank second with 42,300 BTC worth of notional open interest, while 117,900 BTC worth of contracts or $6 billion in notional value is set to expire on March 26.
In other trending Bitcoin News today:
Hereâs When Bitcoinâs Bull Run May Expire, According to One of Chinaâs Biggest Crypto Miners
The CEO of one of Chinaâs largest Bitcoin mining companies says his firm is using a variety of models to try and pinpoint when Bitcoinâs current bull market cycle will end, and how high the top cryptocurrency will rise.
Jiang Zhuoer asserts that Bitcoin has not nearly reached levels of attention it garnered during the 2017 bull run.
According to Google Trends, Bitcoin hit its peak search rate in January of this cycle and was still roughly 40% off its 2017 google trend top.
The BTC.TOP CEO tells Wu Blockchain that according to both of his BTC bull cycle predictions, the king coin is far from its top.
Zhuoerâs representative tells CoinDesk that the chief executive believes Bitcoin will hit $150,00-$300,000 during this bull market.
Other Chinese blockchain companies have predicted that the cycle may top out this fall, unless a large number of institutions follow Meitu, Tesla and MicroStrategyâs lead and publicly adopt the flagship currency.
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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:
Jiang Zhuoer, one of China’s big miners, told WuBlockchain that according to the latest multiple model studies, the fastest will be September 2021 and the slowest June 2022 will turn from a bull to a bear market. pic.twitter.com/g72wgYnYnu
â Wu Blockchain (@WuBlockchain) March 21, 2021
#Bitcoin is attacking fiat money on two fronts: â Itâs perfect-money attributes are draining investment out of fiat
â Itâs insatiable appetite for energy is starving fiat out of existence pic.twitter.com/SnyiV2ltz5
â Max Keiser (@maxkeiser) March 25, 2021
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BITCOIN WILL SKYROCKET ANOTHER 10X â HEREâS WHEN, ACCORDING TO STOCK-TO-FLOW MODEL CREATOR!!!!!
đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
The pseudo-anonymous Bitcoin analyst called Plan B gave his 704,000 Twitter followers an update on the notorious stock-to-flow (S2F) BTC price model.Â
Plan B stressed on August 27, that the ânext months will be keyâ as he believes the Bitcoin S2F model predicts a minimal $100K by Christmas and also predicts, Bitcoin continues its 10+ year path and does another 10x in 4 years.â
âWait until you seen my base case and best case scenarios! OK, a hint: best case Dec $450K.â
In other trending Bitcoin News today: Bitcoin Bull and Bear Cycles To Become a Thing of the Past, According to On-Chain Analyst Willy Woo!
Woo says he sees Bitcoin as being in its âlast cycleâ, before entering a new era where BTC no longer has obvious bull and bear markets.
âI donât think weâre going to have like what we see these normal four-year cycles again. Iâm calling this the âlast cycle.â And people will think thatâs very somber and bearish, but no I mean like, this thing does a drunk walk of ups and downs, trending upwards as it finds its adoption for indefinite amounts of time. These four-year cycles are gone. Thatâs what I think might be happening, which is a big revelation because thatâs against the expectation of the majority think, so weâll see if that plays out.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.
Show Notes / Resources:
https://cointelegraph.com/news/bitcoin-whales-join-small-fish-in-buying-btc-as-price-holds-above-47k
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