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Bitcoin has not died for the 500th time, but market fear could easily convince you otherwise as analysts predict a slow return to higher levels.
BTC starts a new week with traders still digesting the impact of the last â a major price drop that at one point saw $41,900.
A modest recovery is now competing with some formidable resistance, the first of which is $50,000.
In other trending Bitcoin News today: Top Crypto Analyst Says Ethereum Rival Primed for Price Explosion, With ETH Itself Set for Monster Rally!
The pseudonymous trader known in the industry as Smart Contracter tells his 195,500 Twitter followers that Ethereum is primed for a monster rally against Bitcoin (ETH/BTC) after the pair broke out from a large bullish continuation pattern.
âETH/BTC breaking out of a multimonth reaccumulation on a marketwide dump seems pretty bullish for alts in my opinion. 0.1 BTC ($4,885) and then 0.14 BTC ($6,839) will come sooner than people think. Imagine thinking this is a bear market.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/virtual-land-in-the-metaverse-dominated-nft-sales-over-past-week
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BITCOIN PRICE COULD JUMP TO 0K IN 2 YEARS | BTC Breaking This Key Level Could Send It to The Moon
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Ever since the Bitcoin price shot over 1,000% higher in 2017 to hit $20,000 â a BTC price point that was once seen as relatively unobtainable by even some of the cryptocurrencyâs most dedicated bulls â analysts have been waiting for the asset to âmoonâ once again.
Bitcoin Needs to Break Past Ultimate $14,000 Level
While Bitcoin (BTC) surged as high as $20,000 in 2017, it didnât stay at this level for long, failing to establish any semblance of support in that region. In fact, it closed the month of December at $14,000 â 30% below the all-time high as bulls failed to maintain momentum.
For those not versed in technical analysis, this close meant that $14,000 became the level to cross above on a monthly basis, for a close above this ultimate resistance would suggest a higher high has been established.
A chartist going by âDelboyâ doubled down on this in a recent tweet, remarking that Bitcoinâs long-term chart is showing signs that $14,000 might be key in launching the price of BTC âto the moon.â
Bitcoin has been in a slight pullback for the past few days, having descended from above the psychological $10,000 level.
A crypto trader talks about Bitcoin inflation comparing it to the inflation target set by most central banks and makes a bullish long-term prediction on BTC. âBTC COULD EASILY JUMP TO $200,000 WITHIN 2 YEARS!â
On his Twitter page, trader TheMoonCarl has shared data that after the approaching halving of the major cryptocurrency, the Bitcoin inflation is going to reduce from the current 3.6 percent to 1.8 percent.
As per him, the majority of central banks have set themselves a target to keep inflation at 2 percent, so the BTC inflation is going to be lower.
The trader also states that within two years, the price of Bitcoin could easily hit $200,000.
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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:
The #Bitcoin inflation is now 3.6% & will be 1.8% after the halving.That’s officially lower than the 2% inflation-target adopted by most central banks.This is actually HUGE!
The $BTC price could easily jump to $200,000 within 2 years!
â The Moon (@TheMoonCarl) February 22, 2020
Longs filled on that wick. We either soar to the heavens or we go to Valhalla as heroes. #bitcoin.
â Jacob Canfield (@JacobCanfield) February 21, 2020
Bitcoin Breaking This Key Level Above $10,000 Could Send It to âthe Moonâ
https://u.today/bitcoin-btc-price-could-jump-to-200000-within-two-years
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THE UPSIDE OF BUYING BITCOIN TODAY IS STILL 80X HUGE, THE RISK HAS NEVER BEEN LOWER SAYS MAX KEISER!
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âJust to be clear, the risk of buying Bitcoin today HAS NEVER BEEN LOWER and the upside is still huge, like 80x. This is why institutions are pouring in now. The risk has never been lowerâ, says BTC pioneer Max Keiser, host of the Keiser Report.
As Bitcoin Tina tweeted: âIf you donât understand how fast Bitcoin can be repriced you donât understand how markets work. TSLA went from the 150 range to the 450 range from the end of May to the middle of September. Bitcoin could reprice from 20K range to 75K range between now and February.â
Max Keiser responded with: âThis is true. In fact, I expect it. The risk reward ratio for Bitcoin right now is; youâre risking 1 to make 100. The risk/reward has actually NEVER BEEN BETTER.â
In other trending Bitcoin News today:
Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
An SEC filing on Friday indicates that the next Wall Street institution to take a public position in Bitcoin may also be among the largest yet: the $275 billion financial services firm Guggenheim Partners.Â
The Guggenheim filing allows the Macro Opportunities fund to purchase GBTC, a publicly-traded Bitcoin investment vehicle from Grayscale, at an indeterminate point in the future.Â
âThe Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (âGBTCâ),â the filing reads.
According to independent ratings firm Morningstar, the Guggenheim Macro Opportunities fund currently has $5.3 billion in assets under management and sports a four-star rating âbased on risk-adjusted returns out of 270 Nontraditional Bond funds.â
Guggenheim describes the overall fund strategy for the institutional-grade shares (ticker: GIOIX) as a product of the investment teamâs âhighest-conviction ideas.â If the fund were to take the full 10% stake in GBTC, it would be worth north of $500 million.
The filing also notes a long list of potential investor risks associated with cryptocurrencies, which it refers to as âdigital assets designed to act as a medium of exchange.âÂ
Risks include lack of cryptocurrency exchange regulation, GBTCâs historical âsignificant premiumâ to net asset value, and uncertainty regarding tax laws and regulations, among others.
This preparatory move by Guggenheim appears to be part of a cascading series of investments indicating increased acceptance of Bitcoin among major financial institutions.Â
In August, business intelligence firm Microstrategy purchased nearly 40,000 Bitcoin, leading to a parabolic move in share price. Likewise, financial services firm Square, Inc bought $50 million in Bitcoin in October.
This rolling snowball of institution interest may quickly become an avalanche, as noted by one prominent voice in crypto journalism:Â
â2016: The institutions are coming! 2017: The institutions are coming! 2018: The institutions are coming! 2019: The institutions are coming! 2020: The institutions are here! 2021: Dammit, the institutions bought all the Bitcoinâ
In other trending Crypto News today:
Weekend Bull Trap? Traders Remain Cautious As Bitcoin Price Rebounds to $18K
The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTCâs weekend rally.
Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.
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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:
2016: The institutions are coming!2017: The institutions are coming!2018: The institutions are coming!2019: The institutions are coming!2020: The institutions are here!
2021: Dammit, the institutions bought all the #Bitcoin
â Jon Rice (@JonRiceCrypto) October 17, 2020
Just to be clear, the risk of buying #Bitcoin today HAS NEVER BEEN LOWER and the upside is still huge, like 80x
This is why institutions are pouring in now. The risk has never been lower. https://t.co/LlPemmn4Zk
â Max Keiser (@maxkeiser) November 29, 2020
If you don’t understand how fast #bitcoin can be repriced you don’t understand how markets work. TSLA went from the 150 range to the 450 range from the end of May to the middle of September.#bitcoin could reprice from 20K range to 75K range between now and February. pic.twitter.com/kMABvU0AsJ
â BitcoinTinaâŁïž- “TINA” #bitcoin (@BitcoinTina) November 28, 2020
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BLOOMBERG: BITCOIN COULD HIT 0,000 OR DROP TO ZERO!! BTC CAN SURPASS #post_titleM IN THE NEXT 3-5 YEARS!!
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Bitcoin has the potential to surpass $1 million in the next three to five years, says Raoul Pal, calling BTC the âbiggest trade of our lifetimes.â
In Septemberâs crypto outlook newsletter, Bloombergâs analyst Mike McGlone observed that the Bitcoin price could either be heading to the $500,000 mark, or it could fail.
McGlone has continued to reiterate that in his view, Bitcoin is set to become digital gold.
He emphasized once again how Bitcoinâs limited supply and increasing demand were key adoption indicators, and drew comparisons to the 2017 bull run:
âMuch of the broad crypto-asset market echoes 2017âs excesses, but the foundation is firming due to expanding decentralized exchanges (DEXs) and finance (DeFi).
Limited supply vs. increasing demand is the bottom-line for Bitcoin, with macroeconomic underpinnings that support its march toward the market cap of gold, at a price of $500,000 by some estimates. Or it could fail.â
The estimates that the analyst refers to are likely based on assumptions that Bitcoinâs market capitalization will eventually reach parity with goldâs $9 trillion.
Dividing that number by the maximum supply of Bitcoin of 21 million produces $428,571.
A similar sentiment was recently voiced by The Morgan Creek Digital co-founder Anthony Pompliano.
Zero to five hundred thousand provide a pretty good margin of error, unlikely Bloomberg will be proven wrong anytime soon.
In other trending Bitcoin News today:
Bitcoin (BTC) Is the Best Reserve and Collateral Asset Ever Created, Says Global Macro Investor CEO
The CEO of Global Macro Investor, Raoul Pal, says Bitcoin (BTC) is the best reserve and collateral asset ever created.
In a new report on the leading cryptocurrency, the former Goldman Sachs hedge fund manager says he thinks BTC, with its permanently limited supply, is the âhardestâ form of money created.
He says as a reserve asset, it is superior to gold in every metric due to its decentralized nature and provable transaction history.
Pal, who predicted the 2008 financial crisis, notes that, in the current macroeconomic structure, government bonds serve as the âbottom of the pyramidâ in terms of collateral for the world and the U.S. Treasury.
âThat used to work just fine until the central banks became fearful of allowing the business cycle to run unimpeded. Thus, when debt loads became unsustainable, meaning that the weakest borrowers couldnât get access to enough collateral, instead of the price of collateral rising, thus forcing firms to go bust, central banks began to increase the supply of collateral and reserves (quantitative easing).â
However, this devalues the collateral over the longer term and leads to debt spirals, Pal explains. Bitcoin, however, doesnât have this problem, according to the investor.
âBitcoin is pristine collateral. The greatest form of collateral. Its blockchain ownership structure reduces the huge black swan of risk of who owns what. It is all recorded and more importantly, provable.â
Pal notes that all BTC needs to become the preeminent form of collateral is a yield curve indicating future value, something that is already happening with the breakout of decentralized finance (DeFi).
âThe revolution in DeFi is doing just that, establishing a forward curve of future value. It is only at the money-market phase right now (short-term yield curve) but over time we will establish the time preference for Bitcoin over 30 years or more, just like bonds.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:
In the post-Halving bull cycles, bitcoin can often correct 25% (even 40% + in 2017), throwing off the short-term traders (or giving swing traders a shot at the short side). Each of those was a buying opportunity. DCA opportunity ahead? đđ€#Bitcoin pic.twitter.com/tL443DyX63
â Raoul Pal (@RaoulGMI) September 3, 2020
I wrote a very long GMI Monthly this weekend (143 pages, 15,500 words). The core focus was this month on crypto, which I think its the worlds best trade and of which Im irresponsibly long.
Here are a couple of pages with some top-down thoughts.. #Bitcoin pic.twitter.com/xltojJtQn1
â Raoul Pal (@RaoulGMI) August 31, 2020
https://cointelegraph.com/news/bloomberg-bitcoin-could-hit-500k-or-drop-to-zero
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