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Cryptocurrency analyst Michaël van de Poppe is saying that Bitcoin (BTC) is set to hit a six-figure price in the current bullish cycle.
The crypto analyst says Bitcoin is likely to replicate a previous pattern, when BTC surged from around $15,000 to slightly over $63,000, before possibly reaching a new all-time high of at least $250,000.
âSo we get some sideways action, get to watch the all-time high, get down sideways action, big breakout. And then we get into the final phase in which you can simply copy-paste this entire run [$15,000-$63,000] towards the one that we have above $63,000. And then we probably assume that weâre going to get towards $250,000 or higher.â
In other trending Bitcoin News today: Bitcoin Could Surge to This Near Six-Figure Price by Year-End, According to Crypto Exchange Kraken!
Cryptocurrency exchange Kraken says that Bitcoin could end the year with a massive surge that would more than double BTCâs value from its September closing price.
In a new report, Kraken says that Bitcoin has typically recorded the best annual performance during the last three months of the year (Q4).
âAt BTCâs quarter-end closing price of $43,800, a +119% return in 4Q2021 would put BTC at roughly $96,000.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/pro-crypto-senator-cynthia-lummis-discloses-up-to-100k-btc-purchase
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Bitcoin Price Could Shoot Towards ,000 in 2020 | How Can You Not Be Bullish On BTC?
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One fractal analysis, predicts that Bitcoin price ongoing consolidation will resolve to the upside in an explosive fashion.
The catch: the BTC breakout will come at the end of 2020 â over five months away.
On March 12th and 13th, the Bitcoin market broke down. As many investors likely remember, in the span of approximately 24 hours, the cryptocurrency market fell by around 50%.
Bitcoin then plunged from the $7,000s to $3,700. Few expected the market to recover at the time.
There were some, however, trying their best to stay optimistic.
The CIO of Altana Digital Currency Fund, Alistair Milne, shared the chart below in the day after the crash, attaching the comment:
âSo, if you take the fractal after the Aug 2015 meltdown due to exchange dysfunction (and major trendline break) ⊠and place it on the end of Fridayâs meltdown, you get this âŠâ
The chart, which showed Bitcoin could follow the path it took after 2015âs crash, implied that BTC would recover to $10,000 by June.
And that it did, with Bitcoin spiking above $10,000 at the start of June.
This same fractal now predicts that after two more months of consolidation, Bitcoin will hit $18,000 by the end of 2020.
As Milne explained in a recent update about the fractal:
âWould you accept another ~2 months of no volatility if it meant we go directly to $18k within 4 weeks of a breakout?â
Milne isnât the first individual to have suggested that Bitcoinâs ongoing consolidation will resolve higher.
Mike McGlone â the senior commodity analyst at Bloomberg Intelligence â recently wrote the following on Twitter:
âVolatility should continue declining as Bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset, yet we expect recent compression to be resolved via higher prices.â
So, if you take the fractal after the Aug 2015 meltdown due to exchange dysfunction (and major trendline break) ⊠and place it on the end of Fridayâs meltdown, you get this âŠ
The sentiment McGlone shared is in line with the sentiment he shared in previous analyses. In editions of Bloombergâs âCrypto Outlookâ released over recent months, the Wall Street analyst has outlined a perfect storm of reasons indicating that Bitcoin will move higher.
Some of those reasons are as follows:
* The BTC block reward halving that came in May
* The increasing investment in the Bitcoin market by users of the CME and clients of Grayscale
* Bitcoinâs growing correlation with the gold market
* And more.
In other trending Bitcoin News today:
HOW CAN YOU NOT BE BULLISH ON BITCOIN? ANALYST ASKS DUE TO NEW DATA
Despite volatile price action, a majority of Bitcoin in circulation remains inactive.Â
According to data from Glassnode, a blockchain analytics firm, the percentage of coins not moved has reached 62% â an all-time high.
This comes in spite of the fact that 77% of the Bitcoin supply was accumulated at a price lower than current.
Thatâs to say, 77% of all BTC can currently be sold for profit. To Rafael Schultze-Kraft, the CTO of Glassnode, the confluence of high profitability amongst investors and increasing levels of holding is bullish.
âBTC supply not moved in over a year: 62%. BTC supply in a state of profit: 77%. Read: Many investors could be profitably cashing out, but instead choose to hodl. How can you not be bullish on Bitcoin.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:
How Can You Not Be Bullish on Bitcoin? Analyst Asks Due to New Data
#Bitcoin Blahs? Benchmark #Crypto Looked Similar Before Past Gains â
Volatility should continue declining as Bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset, yet we expect recent compression to be resolved via higher prices. pic.twitter.com/XbIMv5AYAfâ Mike McGlone (@mikemcglone11) July 2, 2020
Would you accept another ~2 months of no volatility if it meant we go directly to $18k within 4 weeks of a breakout?
Check what happened in early 2016⊠https://t.co/BH18zB9eOb
â Alistair Milne (@alistairmilne) July 14, 2020
This 2016 Bear Market Fractal Shows Bitcoin Could Shoot Towards $20k in 2020
https://cryptopotato.com/bullish-bitcoin-price-post-halving-patterns-start-repeating/
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Buy More Bitcoin (BTC) Before People Are Forced to Bail Out Fed: âRich Dad, Poor Dadâ Author
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âRich Dad, Poor Dadâ best selling author Robert Kiyosaki has again taken to Twitter to talk Bitcoin (BTC) to his followers in the context of the QE measures that the Fed Reserve resumed last week.
He also reminded the community that three weeks ago, the US Congress suggested giving the Fed access to $425 bln so it could âextend emergency support to failing businesses or struggling localitiesâ, as reported by The New York Times.
The âRich Dad, Poor Dadâ author said that ordinary people should buy more Bitcoin, as well as other safe haven physical assets â hereâs why.
The famous investor Robert Kiyosaki, who made a fortune after the 2008 financial crisis on real estate and the author of a bestselling book on finance and investments, recently proved to be a major Bitcoin supporter.
Unlike other BTC bulls, he does not put gold and Bitcoin into opposing camps.
In his recent tweet, he reminded the community about the recent suggestion from republican US senators to create $425 bln in funding to be used by the Fed Reserve in order to support its emergency cash printing.
Kiyosaki referred to that with a rhetorical question, âIs Fed broke?â.
The investment guru reminded his followers that the Fed has been printing extra cash since 2008.
He fears that after the US Central Bank prints tons of money to bail out large corporations and SME, someone will have to bail out the Fed itself.
The investor fears that, eventually, it might have to be ordinary people.
âIS FED BROKE? Hidden in recent $2.2 Trillion Congress rescue bill was buried $425 Billion for Fed. Fed has been bailing out the world since 2008. Who bails out the Fed? Now we know. We are. Why are Fed and Treasury hiding this from us? Buy more gold silver & Bitcoin. SCREWED.â
In an earlier tweet, Kiyosaki said that the Fed could hardly go broke.
However, he added, it could lose the populationâs trust.
In that case, Kiyosaki believes, the IMF will step in to support the fiat USD.
Robert Kiyosaki emphasized his skeptical attitude about the international monetary fiat system overall as well.
âFED CANNOT GO BROKE in theory. But people can lose confidence in Fed & US $. The $425 Billion US gave Fed secretly will expand to $4.25 Trillion of fake $ into economy for over $9 Trillion in fake Fed $. When confidence goes game over. IMF steps in. IMF stands for I M Fkd.â
Bitcoin Turned âSellâ After A Key Technical Rejection Above $7K
Bitcoin was rejected above the $7,000 level and it declined heavily against the US Dollar. BTC price is currently trading in a bearish zone and it could continue to slide towards $6,400.
After forming a support base above the $6,700 level, bitcoin price started a fresh increase against the US Dollar.
BTC price climbed above the $6,900 and $7,000 levels, but it failed to gain bullish momentum.
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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:
IS FED BROKE? Hidden in recent $2.2 Trillion Congress rescue bill was buried $425 Billion for Fed. Fed has been bailing out the world since 2008. Who bails out the Fed? Now we know. We are. Why are Fed and Treasury hiding this from us? Buy more gold silver & Bitcoin. SCREWED.
â therealkiyosaki (@theRealKiyosaki) April 13, 2020
FED CANNOT GO BROKE in theory. But people can lose confidence in Fed & US $. The $425 Billion US gave Fed secretly will expand to $4.25 Trillion of fake $ into economy for over $9 Trillion in fake Fed $. When confidence goes game over. IMF steps in. IMF stands for I M Fkd.
â therealkiyosaki (@theRealKiyosaki) April 13, 2020
Bitcoin Turned âSellâ After A Key Technical Rejection Above $7K
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KRAKENâS DAN HELD SAYS BITCOIN TARGETING 0K!! BTC WILL TAP 0K-8K 'BEFORE' DECEMBER 2021!!
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Dan Held from the crypto exchange Kraken, says Bitcoin is in a much stronger position now with the possibility of skyrocketing to $100,000 per BTC in 2021.
In an interview with crypto influencer Lark Davis, Held says that Bitcoin remains a risk-on asset as he anticipates the Biden administration to print more money at an unprecedented rate.
âIf you look at options pricing in Biden, heâs being priced into the market and his impact is being priced in as a positive because he will spend more money. Money printer will go brrr, and the Democrats will likely go brrr at an even faster rate than Republicans and theyâre both brrring at a rate weâve never seen in US historyâŠ
Insane amounts of money. People are like âBitcoin, at a $100,000? Oh man, that would be a $2 trillion market cap.â Iâm like âYeah, we just printed that much last week alone.â
Despite the bullish target, Held doesnât discount the possible threat of the paperization of Bitcoin where large corporations such as PayPal buy huge amounts of BTC but do not allow the deposit or withdrawal of the crypto asset from their ecosystem, which eliminates the need to settle transactions on-chain.
âIf big corporates decided that they donât care about Bitcoinâs layer one or care about Bitcoinâs settlement mechanism and then they [are] fine with settling with each other, then that gets pretty scary where itâs like, âWell, what if we just rebuilt the old system where no one cared about the settlement guarantee of the Bitcoin layer?â
Held himself though says he still strongly believes in Bitcoinâs core settlement system and doesnât see any reason to use any counterparty.
âWe look at that from a very critical perspective, we donât want to take on any additional risk. Bitcoin as a settlement mechanism is phenomenal so I think there would have to be a really strong reason not to use that.â
In other trending Bitcoin News today:
âPLANB SAYS BITCOIN WILL TAP $100K-$288K BEFORE DEC. 2021!!â
In a recent tweet the stock-to-flow model creator PlanB shares the following Bitcoin price prediction:
âPeople ask if I still believe in my model. To be clear: I have no doubt whatsoever that Bitcoin S2FX is correct and Bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!â
And regarding Bitcoinâs relationship to gold he pointed out the following in another tweet:
âBitcoin priced in gold. 1BTC = 8 ounces of gold, up 1 ounce in 1 month .. and countingâ
In other trending Crypto news today:
â3 Ways Bitcoin Price And Stocks May React to a Biden Presidencyâ
On Nov. 7 several major media outlets announced that after 4 days of rigorous vote-counting in key battleground states Joe Biden had managed to secure enough electoral votes to become the 46th President of the United States.
As the excitement over an incredibly close election starts to abate, analysts will take a closer look at how a Biden presidency may impact traditional markets and Bitcoin price.
Three key factors to consider are the eventual passage of a new round of economic stimulus, a strengthening U.S. dollar, and the possibility of a stock market recovery.
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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:
People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG
â PlanB (@100trillionUSD) November 8, 2020
https://cointelegraph.com/news/3-ways-bitcoin-price-and-stocks-may-react-to-a-biden-presidency
https://cointelegraph.com/news/bitcoin-at-15k-is-now-bigger-than-paypal-coca-cola-netflix-disney
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