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In this live Bitcoin Technical Analysis session with special guest, top analyst Philip Swift, he reveals we are still in a bull market and still have long way to go with a lot of BTC price appreciation before the HODL Waves comes down to 45% which will take us well beyond $100K per Bitcoin this cycle.
Philip says it may take us a few months, or maybe until next year until we cruise past $100K, reaching as high as $300K this cycle and explains why reaching $1 million per BTC by the time of the next cycle is inevitable.
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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.
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BITCOIN COULD SURGE TO K AMID RISING INSTITUTIONAL ADOPTION!! BTC GLOBAL HASH WARS!!
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An increasing amount of Bitcoin is being accumulated by institutions.
This much was made clear on Tuesday, when Stone Ridge Asset Management revealed to Forbes that it had picked up 10,000 BTC, representing one percent of its assets under management.
Investors think that further institutional adoption of the cryptocurrency could result in the Bitcoin price going parabolic.
Bill Barhydt, CEO of Abra and a former employee of the CIA and Goldman Sachs, recently said that if only 5% of the liquid assets that the top nine firms in the S&P 500 own were to enter Bitcoin, it would surge:
“9 companies alone in the S&P 500 are sitting on close to $600 billion in cash and short term investments. 5% of that moving into Bitcoin (or $30 billion) would likely 5x the price of Bitcoin given the lack of sellers. (3/6).”
While this math may not add up in your mind, take fiat amplifiers into account.
The amplifier is a concept that for every fiat dollar that is invested in Bitcoin or cryptocurrencies in general, the market capitalization of the space will grow than more than $1.
Estimates suggest that the fiat amplifier is anywhere from two to 25 times, depending on what phase of the market cycle cryptocurrencies are in.
In periods where investors are expecting upside, the fiat amplifier grows as investors don’t want to sell their coins too early.
Barhydt’s analysis of the institutional adoption situation comes as he is seeking to increase his personal exposure to Bitcoin.
He said that he is “considering doubling the allocation of Bitcoin in my personal portfolio to 25%.”
Explaining why he thinks this is a good idea, he pointed towards inflationary trends:
“Given the acceleration of currency inflation and the likely price inflation to follow this seems like a better weighting than my current 12%.”
He added that the contacts he has spoken with say that returns in legacy markets such as equities are likely to be “muted in the next five years.”
This trend may have the effect of driving capital into alternative assets that may be able to generate healthy returns such as gold and Bitcoin.
The comments he made are reminiscent of those made by a number of other investors in the space, who have dramatically increased their exposure to Bitcoin amid the ongoing macro backdrop.
Raoul Pal, CEO of Real Vision, for instance, has over 50% of his liquid net worth in Bitcoin.
In other trending Bitcoin News today:
Max Keiser Predicted Hash Wars: A New Front for Countries
The concept of fiat money can be said to be one of the best inventions of mankind.
However, that resulted in a huge wealth gap among the nations and people around the world.
It is no secret that the world’s top 10% richest hold 85% of the total wealth whereas the remaining 90% of people own only 15% of the total wealth.
Then came the year 2009 and we saw a rise of a new concept of money – a cryptocurrency called Bitcoin.
With the invention of cryptocurrency, we’ve stepped in a brand new world.
The first cryptocurrency Bitcoin revolutionized the whole concept of money, the way to transact it without the need of a third-party and a trustless system.
With the unprecedented rise of Bitcoin’s value in the past decade, the countries around the world started noticing the remarkable effect of cryptocurrencies on the global economy.
That opened a new gate – the fight for Bitcoin dominance. Hence the hash wars. To understand what hash rate is, basically it’s a measure of the processing power of the Bitcoin network.
So, whoever has more processing power on the Bitcoin blockchain network has more dominance over Bitcoin and its future.
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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 Bitcoin Could Surge 500% Amid Rising Institutional Adoption
https://cryptotop10.org/top-10/hash-wars-a-new-front-for-countries/
https://decrypt.co/44880/bitcoin-should-be-5-percent-your-investment-portfolio-fidelity
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BITCOIN ON TRACK TO HIT $350K BY YEAR-END, WITH CHANCE OF $1M BTC IN EXTENDED CYCLE, SAYS MACRO GURU
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Macro guru Raoul Pal predicts that Bitcoin (BTC) can skyrocket over 700% from its current price in the coming months and that Ethereum (ETH), the leading smart contract platform can surge over 480%.
“My price prediction has been ETH north of $20,000, and that’s pretty simple. All I did is just map over the ETH chart to the Bitcoin 2017 chart. They work perfectly, and it gives you $20,000. There’s no great science to that, but it feels about right.”
“I’ve also mapped the Bitcoin price versus Bitcoin 2013. They look pretty similar. There’s a bunch of other ways I’d do it with Bitcoin with log charts, regression analysis, stuff like that. Generally speaking, I think it’s somewhere between $250,000 to $400,000, with an outside chance of a million [dollars] if we get an extended cycle.”
In other trending Bitcoin News today: Legislative Assembly of El Salvador approves $150M Bitcoin Trust!
El Salvador’s Legislative Assembly has passed legislation creating a $150 million dollar Bitcoin Trust and supporting the development of crypto infrastructure and services across the country.
The bill passed on Aug. 31, with 64 officials voting in favor and 14 opposing the trust’s creation. The Trust is designed to facilitate conversion of Bitcoin into U.S. Dollars, and support the roll out of vital technological infrastructure enabling widespread adoption of crypto assets.
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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/legislative-assembly-of-el-salvador-approves-150m-bitcoin-trust
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BITCOIN AND CRYPTO ON BRINK OF RISING TO $10 TRILLION MARKET CAP, SAY TOP ANALYST – HERE’S WHEN!!
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A top crypto analyst and trader says Bitcoin (BTC) and the rest of the crypto markets are on the cusp of a massive breakout that can push the valuation of all digital assets to $10 trillion.
Justin Bennett tells his 73,600 followers that the TOTAL chart, which tracks the market capitalization of all cryptocurrency assets, is threatening to take a crucial resistance area.
“Total crypto market cap is holding steady below resistance. $2.4 trillion is the level to break. $2.44 trillion to be safe.”
Bennett predicts that once TOTAL takes out its final resistance area, the skies are clear for a rise to $10 trillion in a matter of months.
“Total crypto market cap is testing its May trend line. Break that and carve fresh all-time highs, and we just might get that $10 trillion market cap in early 2022. Weekly chart.”
In other trending Bitcoin News today: Bitcoin’s $100K price target returns as BTC price breaks out of bull pennant!
Bitcoin looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure.
Dubbed as the Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous trend to a level typically at length higher by as much as the size of the initial large move.
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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://cointelegraph.com/news/long-term-bitcoin-bulls-hodl-strong-despite-five-month-price-high
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