MICHAEL SAYLOR SAYS BITCOIN WILL SKYROCKET 300X IN THE LONG RUN HITTING $14 MILLION PER BTC!!!!!

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The president of El Salvador’s bill to make Bitcoin (BTC) legal tender in El Salvador passed congress with a supermajority in the Salvadoran Congress with 62 out of 84 votes just before 6 am UTC. “It goes into effect immediately,” he said, clarifying the government would allow 90 days for the infrastructure to be put into place.

In other trending Bitcoin News today: Mexico lawmakers aim to follow the example of neighboring countries with proposed Bitcoin legislation. Eduardo Murat Hinojosa, a senator of the federal government of Mexico, has said he will be submitting a proposal to lawmakers seemingly aimed at crypto adoption in the country.

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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/mexico-lawmakers-aim-to-follow-the-example-of-neighboring-countries-with-proposed-bitcoin-legislation

https://cointelegraph.com/news/berkshire-hathaway-invests-500m-in-brazilian-digital-bank

Paraguay Politician Promises Big Bitcoin Announcement

https://cointelegraph.com/news/el-salvador-president-bitcoin-law-will-be-approved-tonight

https://cointelegraph.com/news/bitcoin-price-targets-35k-bounce-level-on-el-salvador-legal-tender-milestone

➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net

With Bitcoin turning bullish, the mainstream institutions are also taking a special interest in the leading cryptocurrency. 

The latest is Citibank, whose bitcoin technical analysis sees lofty price targets at over $300k per BTC by the end of 2021.

Thomas Fitzpatrick, Global head of CitiFXTechnicals product, the author of the report, traces the historical price performance of Bitcoin, which reflects that timeframes for the rally are getting longer, which puts this rally to peak in December 2021 at $318k.

“Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms),” with arguments in favor of Bitcoin at their most persuasive ever, he wrote.

The report notes how Bitcoin is all about “unthinkable rallies followed by painful corrections” but a type of pattern that sustains a long term trend.

As such though it’s to be seen if such lofty levels will be hit, “the price action we are looking at clearly suggest the potential for a major move higher nonetheless in the next 12-24 months,” reads the report whose snippets were first shared by trader and economist Alex Kruger.

Although “this kind of technical analysis is of little value,” Kruger noted, “what matters here is Citi’s clients being exposed to the bitcoin moon.”

Citibank compared the digital asset’s first rally that took it to the mainstream with gold, which similarly “was allowed to float in the early 1970s after 50 years of trading in a $20-$35 range.”

And that was a “structural change in the modern-day monetary regime” ushering in a world of fiscal indiscipline, deficits, and inflation. As for Bitcoin, its move happened in the aftermath of the Great Financial crisis.

In 2020, with all the MMT, gold is likely to gain from this, but the author of the report noted that gold has restrictions such as storage, non-portable, and could possibly be even called “yesterday’s news” in terms of a financial hedge.

“Bitcoin is the new gold,” reads the report.

The leading digital asset has a limited supply, is easy to move across borders, and offers opaque ownership. But the author also says that Bitcoin may be subject to more regulatory constraints going forward.

The report further mentions CBDC, which though a much more effective mechanism for distributing stimulus, “makes capital confiscation easier.” 

In both the scenarios, Bitcoin will give us the digital equivalent (Bitcoin versus Fiat digital) of what we saw in the 20th century when the financial regime changed (Gold versus FIAT paper). 

In other trending Bitcoin News today: 

Incoming Senator Hopes To ‘Bring Bitcoin Into The National Conversation’

In a clip that has been widely circulating on Twitter, the soon-to-be-senator representing Wyoming — possibly the highest ranking US official to ever speak so glowingly of the digital currency — cited her experience as a former state treasurer for why she believes in Bitcoin’s future.

“I’m a former state treasurer and I invested our state’s permanent funds, so I was always looking for a good store of value, and Bitcoin fits that bill. Our own currency inflates; Bitcoin does not. It’s 21 million Bitcoin will be mined, and that’s it, it is a finite supply. So I have confidence that this will be an important player in store of value for a long time to come.”

The Senator also appeared to brush off GMA3 host Sara Haines’ implication that Bitcoin could be used for money laundering or tax evasion, choosing not to address these charges at all.

As Cointelegraph has previously reported, Lummis is an early adopter of Bitcoin, having first picked up the currency in 2013 following a tip from her son-in-law, Will Cole, who works at cryptocurrency services firm Unchained Capital. 

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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:

MINDBLOWING

Grayscale just bought another 15,114 #Bitcoin which has increased the overall holdings to 506,000 $BTC. This accounts for more than 2 percent of the global Bitcoin supply.

— The Moon 🌙 (@TheMoonCarl) November 15, 2020

3/ Given current trajectory, I expect price to approach the 350dma x 2 around $22-24k.

Maybe we need to correct there for a while due to FOMO kicking in having breached ATH? pic.twitter.com/xcyuxuSewS

— Philip Swift (@PositiveCrypto) November 12, 2020

Why Bitcoin Could Rally to $24,000 Before Seeing Its First Major Retrace

https://bitcoinexchangeguide.com/bitcoins-moon-target-set-at-318000-in-december-2021-by-citibank-report/

https://cointelegraph.com/news/incoming-senator-hopes-to-bring-bitcoin-into-the-national-conversation

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Crypto Analyst ‘Big Crypto Dave’ plotted his latest Bitcoin prediction chart which shows the BTC price right in alignment with PlanB’s $288,000 Stock-to-Flow model.

“Some might deem my support for the S2F chart as merely confirmation bias. They must not know of my education in macroeconomics and modern money mechanics. Every time I plot a bitcoin chart based on hardware & trend, it’s close to his 288k prediction.”

When asked on Crypto Twitter, “What’s your timeline? New ATH 2023? Do you agree that the cycles are getting longer?”

Big Crypto Dave responded…

“Q4 2021. Not really, need to see what happens this cycle for confirmation.”

In other trending Bitcoin News today:

5 Crypto Assets Have 100x Potential After Market Correction, Says Lark Davis

Crypto investor and influencer Lark Davis is naming five DeFi tokens that he believes are likely to exponentially rise after the current market correction is over.

Number one on Davis’s list is Akropolis (AKRO) which he says offers stellar DeFi products.

“Things like Sparta which allow you to take under-collateralized loans so the borrower only has to provide 50% of the collateral for the loan which is pretty damn cool. It also allows you to passively generate yield via integrated yield rebalancing to help you get maximum available APR from different DeFi protocols. 

The second product that they have on offer is called Delphi. Now this is a pool that allows for automatic dollar-cost averaging into Bitcoin and Ethereum as well as yield harvesting from different popular DeFi platforms.”

The next coin is Meta or mstable (MTA) which Davis explains is focused specifically on the stablecoin market.

“Mstable is a protocol that unites stablecoins, brings together lending, brings together swapping, all into one robust standard, basically allowing for unique savings options for stablecoins and trading for stablecoins with zero slippage.”

Davis says MTA has huge upside potential considering that the stablecoin market is growing so fast.

Number three on the list is Tellor (TRB) which Davis believes will become a major player in the oracle space, competing against the likes of Chainlink (LINK) and Band Protocol (BAND).

Although Tellor is down 65% in a little over a week, Davis predicts that one TRB will equal one Ethereum as he sees the crypto token being valued at $400 to $500 in the future.

Coming at number four is bZx Protocol (BZRX) which Davis labels as a “DeFi beast.”

“Token holders can stake their coins to get a cut of the fees on lending, on borrowing, and on trading across these different platforms that are part of the bZx protocol.”

While he says the token is down a whopping 60%, Davis believes that it is the most undervalued DeFi asset and could easily print a 10x growth.

Last on Davis’s list is Kava (KAVA) which he believes has the potential to be the next Maker DAO.

He says that Kava will be supporting Bitcoin before the year ends and that may serve as a major bullish catalyst for the crypto asset.

Davis also says now is an interesting time to enter positions on Kava as it is down 55% from two weeks ago.

The crypto analyst believes that Kava’s market cap will spike from $84 million to billions of dollars during this bull market.

Meanwhile, Lark Davis highlights that he owns some, but not all of the coins on the list and warns traders that anything can happen in the extremely risky and nascent market.

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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:

Some might deem my support for the @100trillionUSD S2F chart as merely confirmation bias. They must not know of my education in macroeconomics and modern money mechanics. Every time I plot a #bitcoin chart based on hardware & trend, it’s close to his 288k prediction. pic.twitter.com/PuYD7pO29d

— Big Crypto Dave (@Crypto_Dave_) September 6, 2020

https://ecoinometrics.substack.com/p/ecoinometrics-august-05-2020

https://dailyhodl.com/2020/09/13/5-crypto-assets-have-100x-potential-after-market-correction-says-lark-davis/