BITCOIN CRASHING!! BTC MAY PASS $30K SEPTEMBER LOWS, TOP CRYPTO TRADER WARNS!!

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A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030.

The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin cash, ethereum, and litecoin.

“The equation of exchange model is an absolute approach to valuing crypto assets,” the report begins.

“This means that the model gives a target price that crypto assets should be priced at based on assumptions regarding changes in supply and demand.”

Noting that “The absolute valuation approach is inspired by Mill’s equation of exchange, later formulated by Irving Fisher,” the CRR team detailed:

In this model, the percentage of the total addressable market (TAM) can be used to estimate a crypto asset’s implied future price.

After examining “all the variables and addressable markets,” the CRR researchers arrived at future price estimates for BTC, ETH, LTC, BCH, and XLM.

They expect the price of bitcoin to rise to $19,044 in 2020, $341,000 in 2025, and $397,727 in 2030.

Ethereum’s price is expected to reach $331, $3,549, and $3,644 respectively while bitcoin cash’s price should climb to $414, $6,690, and $13,016 during the same time periods.

The target addressable market for all cryptocurrencies today is approximately $212 trillion, the report notes.

It includes unit of account and medium of exchange, consumer loans, offshore accounts, reserve currency, store of value, online transactions, remittance, micropayments, unbanked, gaming, crypto trading, ICO funding, and STO funding.

The largest use case for cryptocurrencies is as a medium of exchange, the CRR research team found, elaborating:

We believe that bitcoin is still at the very start of its adoption curve. The price of $7,200 at the end of 2019 suggests that bitcoin has penetrated less than 0.44% of its total addressable markets.

If this penetration manages to reach 10%, its non-discounted utility price should reach nearly $400,000.

The CRR analysis estimates that there are more than 40 million cryptocurrency users globally, and the number of crypto users in a country is positively correlated to the country’s GDP per capita.

High GDP means more cryptocurrency adoption in the country.

Furthermore, “On-chain velocity for most coins is decreasing, while off-chain velocity is increasing, currently at an all-time high,” the report highlights, discussing in-depth how speculation and savings outpace all other uses of cryptocurrencies.

They provided “evidence that growth in speculative transactions on exchanges is faster than the growth in using cryptocurrencies to buy goods and services.”

In other trending Bitcoin News today:

Bitcoin Is A Better Gold Than Gold Itself, Says Tyler Winklevoss

According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game. 

“Bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better,” Winklevoss said in a Sept. 21 tweet.  

Over the last decade or so, Bitcoin has risen dramatically in price, surpassing numerous landmark price comparisons along the way.

For many, it is now seen more as a store of value than a transactional currency, and the public often compares the digital coin against gold; a time-tested method of value storage used for thousands of years.

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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://news.bitcoin.com/bitcoin-price-20k-2020-398k-2030/

https://cointelegraph.com/news/bitcoin-is-a-better-gold-than-gold-itself-tyler-winklevoss-says

https://cointelegraph.com/news/new-report-says-bitcoin-price-in-more-sustainable-uptrend-than-2019

💰 Crypto’s Next $1 Trillion Coin: http://teeka.cryptonewsalerts.net

Tesla confirms Bitcoin HODL strategy as new report says BTC shouldn’t have a problem reaching $100,000 during the current bull cycle thanks to impressive behavior from hodlers. 

Also breaking BTC news announced today by Elon Musk that Tesla now officially accepts Bitcoin from US customers.

“You can now buy a Tesla with Bitcoin. Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” – Elon Musk

In response, Jason Yanowitz points out on Twitter:

“The ability to buy a Tesla with Bitcoin is not a big deal. Tesla’s decision to NOT convert that Bitcoin into fiat after the sale is a huge deal. This leads the way for thousands of companies to sell products using Bitcoin without ever turning that Bitcoin back into US dollars.”

In their latest newsletter seen by Cointelegraph, analysts from trading suite Decentrader including Cointelegraph Markets contributor filbfilb sought to allay fears that Bitcoin’s bull run is running out of steam.

Backing their optimism, they said, is data showing that more and more investors are hodling BTC for the long term — one year or more. 

Taken from the popular “HODL Wave” indicator, this suggests that there is less desire to sell Bitcoin at short notice at a certain price, providing a solid foundation for further growth.

“The 1Yr+ HODL Wave suggests that Bitcoin should comfortably reach the $100,000 level during this cycle,” Decentrader summarized.

“The greater the amount of Bitcoin being held for a year or longer, the less liquid the supply or potential selling pressure there will be. Typically, if 50% or more of Bitcoin is being HODLed the bull market continues, below this is potentially cause for concern.”

HODL Waves tracks the proportion of the existing Bitcoin according to when it was last used in a transaction. Previously, Cointelegraph noted that those who bought BTC during the 2017 bull run had largely held onto their position despite realizing significant gains.

As Cointelegraph reported on Monday, roughly 36% of the circulating Bitcoin supply is currently made up of “younger” coins which have moved at some point in the past six months.

Exchange data further reinforces the pro-hodl mindset among investors, as overall reserves continue to plummet in March despite BTC/USD making a new all-time high.

Even miners appear to be increasingly interested in keeping their BTC rewards, as evidenced by figures from on-chain analytics service Glassnode showing net miner positions turning positive this month. Michael Saylor, CEO of MicroStrategy, described their behavior as “onlyrational.”

According to Bitcointreasuries.org, Tesla currently holds an estimated 48,000 BTC, a number that should grow as people exchange their Bitcoin for the company’s electric vehicles.

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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:

You can now buy a Tesla with Bitcoin

— Elon Musk (@elonmusk) March 24, 2021

Remember, we didn’t choose #Bitcoin, Bitcoin chose us All will have to come to terms with this eventually

The benefits of obliterating fiat money and central banks (with BTC) are enormous. The demonetization of war and violence will have profound, positive impacts on society.

— Max Keiser (@maxkeiser) March 24, 2021

https://cointelegraph.com/news/elon-musk-says-tesla-now-accepts-bitcoin-from-us-customers

https://cointelegraph.com/news/tesla-confirms-bitcoin-hodl-strategy-as-new-report-says-btc-should-comfortably-hit-100k

https://cointelegraph.com/news/bitcoin-tackles-56k-as-tesla-elon-candle-hits-days-before-record-options-expiry

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

A Dubai businessman is pledging to buy 100,000 Bitcoin worth up to $4.8 billion as part of a new company strategy. To put that into perspective, it’s the largest BTC investment of its kind in the world.

Khurram Shroff, the Chairman of Dubai’s IBC Group, a noted Arab Whale, and the poster child of Blockchain technology in the Middle East and Asia, has pledged 100,000 Bitcoin (current value of USD $4.8 Billion) to setup the Miami 2.0 Blockchain Strategy Foundation and many other related Joint Venture Projects. 

Mr. Shroff’s backing of Miami 2.0 Blockchain Strategy could turbo-charge use of the cryptocurrency, which is estimated to transact USD $200 Billion per day, by the end of 2021.

The pledge by IBC group, the largest in Bitcoin history, will be significant in facilitating the digital-currencies adoption across multiple industries and critical in aiding Miami’s vision to integrate Bitcoin in everyday transactions. 

An avid supporter of Ethereum 2.0, Khurram Shroff was instrumental in its beacon chain reaching the required threshold for its launch in November 2020. As of the date of this article, the beacon chain has more than USD $5 Billion worth of Ether staked to secure the Ethereum Proof of Stake (ETH2.0) to enable decentralized finance, including DeFI and DaPPs.

IBC Group was recently approached by landmark U.S based real-estate developer Burkhan World Investment LLC, to increase the adoption of the blockchain technology in Real Estate and to enable efficiencies in government and private sectors. 

“Making the largest Bitcoin investment in history is proof of our commitment to assisting cities adopt Blockchain, which we see as the key to enabling widespread adoption,” reiterated Khurram Shroff.

Burkhan currently has over US$1 billion worth of Real Estate projects in Miami in its pipeline that are being empowered with technological innovation. “Enabling investment into Real Estate utilizing Bitcoin as a collateral asset will further enhance its use case as a tool to create a hybrid investment vehicle for BTC holders,” said Shahal Khan, Burkhan’s CEO and Founder, “Economical debt coupled with a favorable hedge for BTC holders in stable long-term assets such as Real Estate, are a double win for digital currency holders as well as developers and property owners.”

Inspired by Miami’s Mayor Francis Suarez’s commitment to blockchain, both IBC group and Burkhan are looking forward to being a part of Miami’s strategic tech vision. In a recent interview, while talking about integrating bitcoin into certain government transactions, Mayor Suarez said, “Cities like Miami, we’re trying to attract tech town. It’s part of a larger play to position Miami as one of the most tech-forward cities in the country.”

In other breaking Bitcoin News today:

MicroStrategy Purchases Another $1 Billion Worth of Bitcoin

Business intelligence firm MicroStrategy increased its Bitcoin (BTC) holdings by 27% on Wednesday after purchasing an additional 19,452 coins, taking its total haul to 90,531 BTC.

Announced on the company’s website on Wednesday, the coins were reportedly purchased for approximately $52,765 per coin, equating to an outlay of just over $1 billion.

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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:

https://twitter.com/Bloqport/status/1363207832221462534

$BTCif 4h breaks down, be prepared for some uber bearish calls to start popping up on CTAB=CD & 1.618 fib both at 36.7k

meanwhile, i’ll be bidding the daily Kijun at 42k pic.twitter.com/xu7DCYCFk4

— Josh Olszewicz (@CarpeNoctom) February 25, 2021

https://gulfnews.com/business/company-releases/dubais-ibc-group-pledges-100000-bitcoins-the-largest-bitcoin-investment-in-history-to-support-setup-of-miami-20-blockchain-strategy-foundation-1.1613649280442

https://cointelegraph.com/news/microstrategy-purchases-another-1-billion-worth-of-bitcoin-now-owns-90-000-btc

https://cointelegraph.com/news/what-bitcoin-price-levels-will-invalidate-the-short-term-bear-scenario