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Wall Street strategist Tom Lee told CNBC on Monday that last weekâs Bitcoin collapse has not shaken his bullish resolve, saying heâs standing by his $100,000 per BTC year-end price target.
âI think bitcoin is hyper-volatile. Thatâs the nature of it, but thatâs what creates the reward for people,â Lee said in an interview on âTechCheck.â
âAgain, even though bitcoin is in the penalty box now, I still think it could exit the year over $100,000,â said Lee, co-founder and head of research at Fundstrat Global Advisors.
In other trending Bitcoin News today: AMC Plans To Accept Bitcoin At Movie Theaters By The End Of 2021!
Speaking during a Monday conference call regarding the firmâs Q2 results announced earlier the same day, AMC chairman and CEO Adam Aron revealed that the cinema chain intends to have the infrastructure ready to accept BTC payments for online movie tickets by the end of 2021.
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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://www.cnbc.com/2021/05/24/bitcoin-bull-tom-lee-still-sees-100000-by-year-end.html
https://cointelegraph.com/news/ethereum-could-pave-way-for-100-000-bitcoin-bloomberg-analyst-asserts
https://cointelegraph.com/news/total-crypto-market-value-breaks-1-9t-for-first-time-since-may
https://cointelegraph.com/news/cinema-operator-amc-plans-to-accept-btc-by-2022
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These Altcoins Are Poised to Outshine Bitcoin (BTC), Says Crypto Intelligence Firm | New âAltseasonâ
âĄïž Tap into OPM (Other Peopleâs Money): http://opm.cryptonewsalerts.net
These are the Altcoins that have outperformed the rest of the market including Bitcoin (BTC) in the past week as the DeFi craze gains steam.
Altcoins have started to record large gains across the board. Some small-cap coins have seen triple-digit percentage gains in recent weeks.
But several larger-cap cryptocurrencies have also been posting serious gains such as VeChain (VET), Stellar (XLM), Cardano (ADA) and Chainlink (LINK).
In the past week, VET, XLM, ADA, ALGO, LINK, BSV, ATOM, XRP, CRO and ETC outperformed the rest of the market including Bitcoin, which gained just 1.13% during the period.Â
Since March, both Bitcoin (BTC) and Ether (ETH) recorded gains of over 150%, reportedly fueled by a surge in retail demand as well as institutions.
Following the strong recovery of the top two crypto-assets, the momentum of many altcoins began to increase, particularly following the Bitcoin halving in mid-May.
VET ranked as the third-best performing crypto asset of the week. Some speculate that the participation of the VeChain team at a major conference might indicate a product announcement.
Others believe the rally derives from the anticipation of a potential Coinbase listing.
On June 11, Coinbase said that it is reviewing VeChain along with 19 other cryptocurrencies.
Mentioning VeChain, the exchange said:
âToday weâre announcing that we are exploring the addition of a range of new assets. As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.â
Stellar and Cardano are set to see major protocol updates, with Cardanoâs hard fork scheduled to activate on July 30.
The hype around protocol upgrades and new product releases have buoyed the sentiment around top cryptocurrencies in recent weeks.
Other crypto assets, like Chainlink, for instance, have recently surpassed their record highs after a strong month in June.
The interest around LINK increased after it entered a price discovery phase.
Price discovery is a technical term for when an asset surpasses its all-time high into uncharted territory.
In other trending Bitcoin News today:
84% of Crypto Twitter Is Buying or Holding Bitcoin, Boosting Bull Case
There have been many analysts over recent weeks arguing that Bitcoin is clearly at a market top.
One trader commented that the cryptocurrency is trading in line with a textbook âdistributionâ pattern.
âA couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the verge of failing. 2. Side by side, ascent vs descent with selling the dominant pressure from volume,â a trader said on the matter.
Yet data shows that long-term investors are unfazed. Namely, a majority of respondents to an impromptu Twitter poll has revealed that theyâre still long on Bitcoin.
On July 9th, pseudonymous BTC analyst âPlanBâ conducted a poll via his Twitter account, followed by over 100,000.
He asked his followers â which represent a good portion of Crypto Twitter â if theyâre holding, buying, or selling Bitcoin.
The impromptu poll, which reached over 13,800 individuals, found that 65.6% of respondents are currently holding Bitcoin. 18.3% of the respondents are buying the cryptocurrency at the moment. And a mere 3.9% of the respondents are currently selling BTC.
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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:
These Altcoins Are Poised to Outshine Bitcoin (BTC), Reports Crypto Intelligence Firm
84% of Crypto Twitter Is Buying or Holding Bitcoin, Boosting Bull Case
https://cointelegraph.com/news/new-altseason-visualized-top-10-cryptos-outperforming-bitcoin
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7K BITCOIN PRICE PREDICTION BY MAY 12TH 2021!! BTC IS IN âEARLY MAIN BULL PHASEâ CIRCA Q4 2016!!
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Macro investor Dan Tapeiro, just revealed a Bitcoin price chart which suggest BTC soars 38X peaking at $387,000 on May 12th, 2021.
However, he reveals the following conservative BTC price prediction based on this chart:
âTremendous long term Log Chart of Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.â
The investor goes on to share:
âI spent 25 yrs looking at charts all day. I would not say that I was a technical analyst but I did learn that certain patterns repeat in obvious ways. When you can identify those patterns it can be very profitable.â
Bitcoin is copying what it did a year before its $20,000 all-time highs, and the new bull market has been here for over a year already.
That was according to popular statistician Willy Woo, who this week shed further light on Bitcoinâs current price gains.
Woo: Bitcoin âearly main bull phaseâ began recently In a series of tweets on Aug. 10, Woo continued a debate begun by Bitcoin developer Jimmy Song, who himself debated the topic in the latest issue of his Tech Talk blog post series.
âYes. The bull market really started April 2019,â Woo responded, continuing:
âWhatâs started recently is the early main bull phase, itâs Q4 2016 all over again, but different dynamics and themes at play.â
BTC/USD hit $12,000 twice in recent days, managing to hold support at $11,500 in a long-awaited show of strength that has given many analysts cause for long-term optimism.Â
Despite failing to flip $12,000 to support, Bitcoin remains firmly bullish, both sentiment and technical fundamentals-based evidence suggests.
For Woo, the composition of the market formed a major difference in maturity between this year and 2016 â maturity which has historically dictated both price trajectory and volatility.
âOne of the themes is the legitimization of BTC for large institutional funds, and also the easy accessibility to buy crypto for the masses with the likes of square cash, paypal, and not to mention the one Iâm working on LVL which is real regulated banking integrated with crypto,â he continued.
In other trending Bitcoin News today:
Four Altcoins Could Break Out As Ethereum-Based Ecosystem Goes Parabolic, According to Messari Researcher
Messari researcher Ryan Watkins is shining the spotlight on four small-cap crypto assets in the Ethereum ecosystem.
In a series of tweets, Watkins says the coins could be part of a new decentralized finance (DeFi) paradigm that breaks out alongside the second-largest blockchain.
âAs Ethereum faces challenges scaling and interest in DeFi goes parabolic, there hasnât been a better time for a parallel DeFi ecosystem to break out.â
Watkins says Terra (LUNA) generates the highest transaction fees after Bitcoin and Ethereum.
The Messari researcher highlights the fact that Terra is on track to print $3.8 billion in annualized transaction volume, allowing the coin to pocket $26 million in transaction fees.
Watkins says from a fundamental standpoint, Luna is a potential big winner.
âIf LUNA were to be valued like itâs peers by year-end, it would imply as much as a $3.53 price â 10x current.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:
Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.Just breaking up NOW.Should last a few years as 2.5yr consolidation is fantastic base for catapult up.Break of old highs will have explosive follow through. Time to sit and be patient.
H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h
â Dan Tapiero (@DTAPCAP) August 11, 2020
Yes. The bull market really started April 2019. Whatâs started recently is the early main bull phase, itâs Q4 2016 all over again, but different dynamics and themes at play. https://t.co/8fZgO3Upu9
â Willy Woo (@woonomic) August 10, 2020
What a difference a month makes! In July (btc $9000), 43% of my followers thought btc would stay below $55k until Dec 2021 (i.e. 43% did not believe S2F model). Now (btc $11500) that is 30%. So 25% in that group changed their mind. And 51% thinks #bitcoin > $100k before Dec 2021. pic.twitter.com/GgmIu1QzVr
â PlanB (@100trillionUSD) August 10, 2020
https://cointelegraph.com/news/bitcoin-price-is-in-early-main-bull-phase-circa-q4-2016-willy-woo
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Sweeping Crypto Report Predicts Bitcoin Rise to 7,000 | BTC Roaring Toward Exponential Bull Run
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
A sweeping new crypto report on the future of Bitcoin predicts the BTC price could rise to $397,000 â but it wonât happen overnight.
The latest analysis from the Liechtenstein-based Crypto Research Report, led by former cryptocurrency fund manager and Forbes 30 under 30 member Demelza Hays, assesses BTC based on its target addressable market (TAM).
The term is used to describe the overall revenue opportunity for a given product or service.
The report assumes Bitcoinâs use as a currency will outshine altcoins such as Ethereum, Bitcoin Cash, and Litecoin in the long run, and the firmâs analysts say BTC is likely at the very start of its adoption curve, with major upside potential in the decade to come.
The firm says its analysis is based on modest market penetration assumptions, meaning the cryptocurrency will penetrate 10% of the entire target addressable market, which includes store of value, remittance, offshore deposits, gaming, online gambling, unbanked financial services, lending, micropayments, crypto trading, and more.
âThe target addressable market for crypto assets is approximately $212 trillion. The largest use cases include medium of exchange including all global fiat currencies worth $126 trillion and consumer loans with a global value of $42 trillion. If Bitcoin penetrated 10% of this market over the next ten years, each Bitcoin would be worth $397,000 in 2030.â
The report also analyzes Bitcoinâs transaction velocity, the state of privacy coins, and Tetherâs impact on the price of BTC.
As for the altcoin market, the firmâs analysts look at the potential prices of four leading crypto assets over the next decade, forecasting Ethereum could hit $3,644 by 2030.
The report shows Litecoin targeting $2,252, Bitcoin Cash aiming at $13,016, and Stellar targeting $7.81 in the same time frame.
In other trending Bitcoin News today:
Bitcoin (BTC) Roaring Toward Exponential Bull Run, Says On-Chain Analyst Willy Woo
Crypto strategist and influencer Willy Woo says Bitcoin is ready to launch its next exponential bull.
In a viral tweet, Woo tells his 132,000 Twitter followers that the king cryptocurrency was primed to ignite a bullish onslaught in March until Covid-19 âkilled the party.â
But the on-chain analystâs new model, which signals the possible start of a new bull cycle, suggests that BTC may begin another bull run in July.
âThis is a new model Iâm working on, it picks the start of exponential bull runs.
1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.
2) This model suggests we are close to another bullish run. Maybe another month to go.â
Woo says the bull market delay brought about by the pandemic will turn out to be a welcome development for the largest cryptocurrency.
He says the long base-building process is serving as rocket fuel for BTC. âThe longer this bull market takes to wind up, the higher the peak price (Top Cap model). A long sideways accumulation band is ultimately a good thing.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:
This is a new model I’m working on, it picks the start of exponential bull runs.1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.
2) This model suggests we are close to another bullish run. Maybe another month to go. pic.twitter.com/wmoEdMVywF
â Willy Woo (@woonomic) June 27, 2020
https://cryptoresearch.report/wp-content/uploads/2020/06/Crypto-Research-Report-June-2020-ENG.pdf
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