BITCOIN IS STILL HEADING TO $500K DESPITE RECENT CRASH SAYS ARK INVEST CEO!! WHAT’S NEXT FOR BTC?!!

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Bitcoin could nail the now-popular $98,000 BTC price target – but it could end up being the cycle top, new research argues.

In its “October 2021 Market Recap & Outlook,” major United States exchange Kraken said that Bitcoin should reach around $96,000 if this quarter copies the last bull run.

“At the current pace, 4Q is trending most similarly to 4Q2017 with a correlation of 0.88. It should be noted that 4Q2017 went on to become Bitcoin’s third best 4Q on record with a return of +220%,” Kraken wrote.

“Assuming BTC continues to follow in the footsteps of 4Q2017, we could expect BTC to rally even higher into month end. For some context, a +220% in 4Q2021 would imply a price of $96,355 for BTC.”

In other trending Bitcoin News today: Apple CEO Tim Cook confirms owning both Bitcoin and Ethereum and says…

“It’s reasonable to own it as a part of a diversified portfolio. I been interested in it for a while, I been researching it and so forth and so I think it’s interesting.”

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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-to-hit-250k-in-january-2022-but-invalidate-s2fx-btc-price-model-new-prediction

https://cointelegraph.com/news/bitcoin-price-briefly-hits-69k-ath-before-plummeting-back-to-earth

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Bold Profits Daily guru, Ian Dyer, doesn’t think the Bitcoin price will just hit $100,000, he thinks is will soar past it!

Ian believes the BTC price can go to $115,000 by next August. That means Bitcoin could soar 995% in less than a year.

Talk about a fast, HUGE return!

The bullish Bitcoin prediction is right in alignment with the infamous Stock-to-Flow model which suggest a $100,000 BTC price by August, 2021.

“We’re telling you how you can benefit from the rise of Bitcoin as it disrupts the global financial system. Our prediction stands: The Dow and Bitcoin will hit 100K in America 2.0.”

THE 995% RETURN YOU DON’T WANT TO MISS!

“You know we’re extremely bullish, optimistic and positive on Bitcoin. The reasons it could surge in just a short time stem from Paul’s GoingUpness strategy.”

“Since March, the number of Bitcoin stored on a crypto exchange is decreasing, which adds to Bitcoin’s ScarceAbility: At the same time, the Bitcoin price has risen more than 150% from its March low. Plus, demand for BTC has continued to increase.”

“Last month the first publicly-traded company announced that it used $400 million of its cash to purchase about 38,000 bitcoins. This is incredibly bullish. Corporations are starting to see its value which is another sign of demand.”

In other trending Bitcoin News today:

Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days

The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC.

Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com.

Grayscale’s bitcoin position is also displayed on the company website as well for transparency purposes.

Since the Grayscale Bitcoin Trust inception date on September 25, 2013, there are 471,022,700 shares outstanding and each share is worth 0.00095519 BTC per share.

This week, digital currency proponents noticed that Grayscale scooped up around 17,100 BTC or $182 million using today’s exchange rates.

Bybt.com’s data shows the trust obtained the bitcoin stash during the last seven days and GBTC’s aggregate bitcoin position is now 449,900 BTC.

Bitcoin (BTC) markets have done well in recent days and dominance is nearing 60% again.

The cryptocurrency’s percentage change versus USD during the last year is up 29% and during the last 90-days, BTC has gained over 16%.

With 449,900 BTC held, Grayscale’s Bitcoin Trust has 2.14% of the entire 21 million BTC supply.

As far as coins in circulation, BTC just passed the milestone of 18,500,000 in circulation.

This means GBTC’s purse represents 2.43% out of the BTC currently in circulation.

No one knows exactly how Grayscale acquired the 17,100 BTC, but Microstrategy’s CEO Michael Saylor explained the efforts his company took to purchase the 16k BTC Microstrategy recently purchased.

“To acquire 16,796 BTC, we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each [three] seconds,” Saylor said. “~$39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward spike,”

Saylor added. A number of BTC proponents also believe that companies like Microstrategy and Grayscale’s Bitcoin Trust snatching up vast amounts of BTC is bullish for investors.

CEO of UK bitcoin exchange Coincorner, Danny Scott, tweeted on Sunday that BTC’s “foundations are getting stronger by the day.” “62 days of Bitcoin ending above $10,000,” Scott tweeted. “Previous was 61 from 1st Dec 2017.”

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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: No. 1 In Race to 100K?

https://news.bitcoin.com/grayscale-investments-scooped-up-over-17000-btc-in-the-last-seven-days/

https://cointelegraph.com/news/only-25-million-bitcoin-left-to-mine

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A cryptocurrency trader who accurately predicted last year’s Bitcoin crash has updated his BTC price roadmap.

The pseudonymous crypto strategist known as ‘Dave the Wave’ says Bitcoin has already resolved the large symmetrical triangle that has kept the market bearish for over two years.

He now expects the Bitcoin price to launch a vertical ascent to $24,000 in the coming months.

Based on Dave’s chart, Bitcoin will likely continue trading inside another triangle until the second quarter of 2021.

The breakout from this pattern could ignite a manic phase that would catapult BTC to $115,000.

He also says one altcoin that was hammered during the brutal bear market has massive upside potential.

Dave the Wave tells his 34,000 Twitter followers that South Korean blockchain interoperability protocol ICON (ICX) may be gearing up for a parabolic breakout after languishing in bear territory for over two years.

During that period, ICX wiped out 99% of its value as the coin nosedived from its all-time high of $12.64 to a bear market low of $0.106937, according to CoinMarketCap.

According to Dave, the huge devaluation puts ICX in a position to surge to $102.56 and post astronomical gains of 22,947% in the next bull cycle.

In other trending Bitcoin News today:

MicroStrategy Purchases $250,000,000 in Bitcoin, Says Top Crypto Can Maximize Long-Term Value for Shareholders

MicroStrategy has adopted Bitcoin (BTC) as its reserve currency — and stunned commentators by purchasing over 21,000 BTC on Aug. 11.

The world’s largest publicly-traded business intelligence company has swapped fiat for Bitcoin as its treasury reserve asset, but the reasons behind it suggest that more big businesses will have no choice but to do the same.

Why did MicroStrategy choose Bitcoin, and will others follow?

In a press release issued on Aug. 11, CEO Michael Saylor went further than most by calling Bitcoin “digital gold.” With no “ifs” or “buts,” Saylor unreservedly plugged the largest cryptocurrency over both fiat and other traditional safe-haven assets such as gold.

“Bitcoin is digital gold – harder, stronger, faster, and smarter than any money that has preceded it,” he commented. 

That angle closely mimics some of Bitcoin’s foremost proponents, notably Saifedean Ammous, who in his book, “The Bitcoin Standard,” repeatedly explains that so-called “digital scarcity” puts Bitcoin in a separate league to any other form of money which has ever existed.

Like Ammous, Saylor also believes that Bitcoin’s very structure will ensure that its value will only increase with time.

He added:  “We expect its value to accrete with advances in technology, expanding adoption, and the network effect that has fueled the rise of so many category killers in the modern era.”

Bitcoiners were particularly excited about MicroStrategy because it unashamedly replaced fiat currency for cryptocurrency.

Its purchase of 21,454 BTC for an aggregate price of $250 million late last month may not only be symbolic (given the total 21M BTC) but it also means that the company controls 0.1% of the total Bitcoin supply — something competitors will find increasingly expensive to replicate.

“MicroStrategy bought 0.1% of the Bitcoin supply. Very few companies will be able to copy this strategy,” What Bitcoin Did podcast host Peter McCormack tweeted in response.

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

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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/3-reasons-why-microstrategy-adopted-bitcoin-and-why-others-will-too