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One of the best buy indicators in Bitcoin flashed this week, suggesting the BTC price is primed to explode.
The Hash Ribbons Indicator created by Charles Edwards uses the thirty-day and sixty-day moving averages of the Bitcoin hash rate to determine when miner capitulation has occurred, and uses this to estimate local BTC bottoms.
Hash ribbons serve as such an effective and historically accurate buy indicator for bitcoin because it uses the changes in bitcoin hash rate to measure miner capitulation in the bitcoin market.
In other trending Bitcoin News today: $400 Billion Hedge Fund Neuberger Berman Approved to Receive Access to Bitcoin and Ethereum!
The $400 billion investment management firm, Neuberger Berman, recently announced adding exposure to BTC and Ether derivatives and investment vehicles as part of the firmâs fund strategy.
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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://bitcoinmagazine.com/markets/buy-indicator-shows-bitcoin-price-will-explode
https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution
https://cointelegraph.com/news/crypto-market-cap-returns-to-2t-for-the-first-time-since-may
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Bitcoin Targeting 0K in Extended Boom & Bust Cycle | BTC WILL ROCKET 35% HIGHER AHEAD OF HALVING
âĄïžÂ TEEKA TIWARI â The Investment of the Decade: http://2020.cryptonewsalerts.net
A crypto analyst who called Bitcoinâs dramatic 2019 correction says Bitcoin (BTC) is well-positioned for a boom and bust cycle that brings the Bitcoin price to $400,000.
The pseudonymous strategist, known in the industry as Dave the Wave, accurately predicted the start of Bitcoinâs 2019 reversal.
On July 11th of last year, with BTC at $11,600, the analyst said Bitcoin appeared to be at the start of a parabolic downtrend that would last until the king of crypto hit $6,000 at the end of the year.
The prediction turned out to be remarkably on point, with the BTC price reaching a yearly low of $6,425 in December.
Dave is now updating his long-term Bitcoin forecast. By plotting a curve based on Bitcoinâs past price history, he expects BTC to witness decreasing volatility in the decade ahead.
He predicts BTC will spike to around $110,000 at the end of 2022, followed by a crash to a low of $30,000 in 2025.
After that, the analyst believes Bitcoin will begin a long-term grind that will end at around $400,000 in 2029.
In the short term, economist Alex KrĂŒger says BTC may push from its current price of just over $7,000 to $7,700.
But after that, heâs expecting another retracement to $6,400.
However, KrĂŒger warns that Bitcoin appears to remain closely correlated to traditional markets, and all bets are off if the stock market takes another beating.
â[Bitcoinâs price action] would depend on what stock indices do. Bitcoin continues to trade like a risk-on asset. Rolling correlations between BTC and the S&P 500 remain around historical highs.â
FRACTAL ANALYSIS: BITCOIN PRICE WILL ROCKET 35% HIGHER AHEAD OF HALVING
Despite the overarching risks of an economic recession, Bitcoin has performed well over the past few weeks, rallying higher and higher over week after week, shunning off bearish narratives.
In fact, since the $3,700 bottom, the cryptocurrency has gained over 80%, reaching as high as $7,500 but now trading at $7,050 as of the time of this articleâs writing.
Whatâs crazy is that just a few weeks ago, there were analysts seriously thinking the cryptocurrency was on its way to fresh macro lows, meaning a low below Bitcoinâs bottom of $3,150 in December 2018.
Now, analysts are expecting the cryptocurrency to rally even higher, with a prominent trader suggesting BTC could begin a multi-week surge towards $9,000 in the coming days.
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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:
In the event this continues to play out I’m expecting a green start of the week followed by 8800-9000 next weekend. https://t.co/a47pnvmIeb for who’s curious about the tools.
And most important. Anything under 7000 is probably a gift right now.
â Galaxy (@galaxyBTC) April 17, 2020
7700/7800 is a big deal for $BTC. There’s many different fib levels given how different exchanges had very different March lows, mainly courtesy of Bitmex.
â Alex KrĂŒger (@krugermacro) April 16, 2020
Fractal Analysis: Bitcoin Price Will Rocket 35% Higher Ahead of Halving
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4 LONG-TERM BITCOIN SCENARIOS | BTC Price Could Soon Pump Another 20 Percent
âĄïž TEEKA TIWARI: 12 SECONDS TO $12,000 REPLAY: http://12seconds.cryptonewsalerts.net
Hereâs the â4 Long-Term Bitcoin Scenariosâ shared on Crypto Twitter that are most likely to play out according to well known Cryptocurrency analyst Alex Kruger:
#1 â Bitcoin becomes a global reserve currency. Current hodlers, all proven to be early, get immensely rich.
#2 â Scarcity keeps price going up forever. Bitcoin continues to outperform. Investors do extraordinarily well.
#3 â After a few more epic runs $BTC eventually matures and settles into a wide range, like most commodities do (in real-terms). Bitcoin maxis turn into goldbugs 2.0.
#4 â Bitcoin dumps into oblivion. People keep on buying the dip. Bitcoiners get REKT.
In other Crypto news todayâŠ
Drastically dropping volumes on Crypto exchanges could mean that itâs the calm before the storm for the BTC price.
Bitcoin volume on BitMEX, the leading destination for trading crypto derivatives, reached $784 million worth of BTC, its lowest level since March 30th.Â
The last time the BitMEX exchange recorded such underwhelming numbers, the BTC price surged by more than 20 percent just two days later, kick-starting the 2019 bull run.
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The math and science behind this system is incredibly complex.
It uses 350 years of stock market data, complex aerospace technology, and an algorithm 100 times faster than anything you can access in a lab to predict where stock prices might move next.
This is the goal of quant trading: to build models that find signals hidden in the noice of the market that allow you to predict what comes next.
This quantitative trading system combines rocket science with a 100X-speed trading algorithm to guarantee you a shot to see $12,000/month with a 12 second move, without cryptocurrencies, without private placements, without stocks, and with no trading experience necessary.
âThe trading system so accurate, I took money out of Crypto to commit to this instead.â â Teeka Tiwari
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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:
Four long-term bitcoin scenarios#1 Bitcoin becomes a global reserve currency. Current hodlers, all proven to be early, get immensely rich.
#2 Scarcity keeps price going up forever. Bitcoin continues to outperform. Investors do extraordinarily well.
â Alex KrĂŒger (@krugermacro) November 16, 2019
#3 After a few more epic runs $BTC eventually matures and settles into a wide range, like most commodities do (in real-terms). Bitcoin maxis turn into goldbugs 2.0.#4 Bitcoin dumps into oblivion. People keep on buying the dip. Bitcoiners get REKT.
Which one is more likely?
â Alex KrĂŒger (@krugermacro) November 16, 2019
Ugly.. Look at that volume on Bitmex. 784 Million.The last time 24 hour volume was this low was March 30th. Go ahead, look at that date on the chart.
Realized and ATM Implied Volatility all at lows as well. $BTC pic.twitter.com/fvKJ64mCZ3
â Cantering Clark (@CanteringClark) November 17, 2019
https://u.today/bitcoin-price-could-soon-pump-another-20-percent-as-trading-volumes-tank
https://cointelegraph.com/news/bitcoin-atms-worldwide-hit-new-milestone-surpassing-6-000
Post Views: 373 -
Bitcoin Halving Will be âMake or Breakâ for Stock-to-Flow Model: PlanB | K BTC Price End of 2020
âĄïžÂ Tradecraft: http://tradecraft.cryptonewsalerts.net
The creator of the stock-to-flow (S2F) Bitcoin (BTC) price model says that the upcoming block reward Bitcoin halving will decide if it lives or dies.
In a series of tweets on April 16, PlanB said that he is sticking by the Bitcoin price increasing by âan order of magnitudeâ in the two years after the May halving.
âIMO bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effectsâ
Stock-to-flow measures the issuance of new Bitcoins each block against Bitcoinâs existing supply, a method which has proven highly accurate in charting price performance.Â
According to the modelâs latest incarnation, BTC/USD should hit $30,000 by the end of 2020.Â
Continuing, PlanB responded to queries regarding Bitcoinâs correlation to traditional markets.
A key concern among many traders is that a repeat of March could still occur, BTC/USD shedding 60% in a day as stocks crashed.
Highlighting the Dow Jones, PlanB argued that current correlation was the result of the broader coronavirus crisis, and was not a permanent feature for Bitcoin:
âDuring crisis everything is correlated. Whatâs next is whatâs interesting. They will not be correlated forever (in my opinion).â
Promising to throw out the stock-to-flow model altogether if it fails to deliver as planned, he added that he nonetheless was not nervous about such a scenario occurring.Â
Recently, some well-known cryptocurrency figures have criticized the concept, arguing it is simply too optimistic and has created a âcultâ which reinforces its prognosis.
As Cointelegraph reported, they include Ethereum co-founder Vitalik Buterin and a Bitcoin whale known as J0E007.
âTo be clear: I expect S2F-price relationship to hold,â PlanB confirmed.
Hereâs Why Bitcoin Rallying 15% to $8,000 Is Just a Matter of Time
Ever since the $3,700 bottom, Bitcoin has mounted an impressive comeback, rallying as high as $7,500 last week as global markets have also seen a similar recovery to pre-crash levels.
But the rally might not be done yet. Crypto trader LightCrypto, or just Light, recently remarked that it âfeels like $8,000 is at hand,â referencing his sentiment that the cryptocurrency could soon rally just under 15% from current levels to $8,000.
As to why this is the case, he remarked that with the potential of new buyers âabsorbing profit-taking [by longs] and miner selling,â thereâs a good chance $7,000 will be âaccepted,â which could result in another strong leg to the upside.
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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:
IMO #bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects pic.twitter.com/kiTdN0n3Lu
â PlanB (@100trillionUSD) April 16, 2020
Acceptance of this price level comes from new buyers absorbing profit-taking and miner selling. After 1 month of consolidation, it seems that tension will be resolved shortly, with enough kindling built up for a strong leg.
Feels like $8,000 is at hand. pic.twitter.com/xHCAIgtVU1
â light (@LightCrypto) April 16, 2020
Hereâs Why Bitcoin Rallying 15% to $8,000 Is Just a Matter of Time
https://cointelegraph.com/news/bitcoin-halving-will-be-make-or-break-for-stock-to-flow-model-planb
Post Views: 399