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Guggenheim Partners founder Scott Minerd says a $600,000 Bitcoin price is still in the cards, but investors may have to prepare for a further drawdown before BTC can start rising again. In an interview with CNBC, Minerd discusses the possibility of Bitcoin losing over 50% of its based on historical price action.
“Every major run-up in Bitcoin, there has been about an 80% crash. Now, that would make a lot of sense in a lot of ways because that would bring us back into the neighborhood of $15,000.”
“Our research shows that as a store of value, and that’s a debatable point, that if you were to compare it against gold, you’d be at somewhere between $400,000 and $600,000.”
In other trending Bitcoin News today: Bitcoin To Meteorically Rise 15x, Says Crypto Analyst Lark Davis. Davis believes BTC is poised to reach a six-figure price as its fundamentals continue to grow at an exponential rate.
“Bitcoin will go on to rival the market cap of gold this decade. That is a 15X from the current price, which will give a per unit price of $550,000 per 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:
TA: Bitcoin Stuck Near $35K, What Could Trigger A Strong Rally
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REAL REASON TO BELIEVE BITCOIN WILL HIT $10 MILLION BY THIS DATE!! BTC HYBER-BULLISH ASCENSION!!
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While a $10 million Bitcoin price might seem hyper-bullish, there is real reason to believe such an ascension in BTC price could occur. Bitcoin will experience three halvings this decade, the first in 2020, the second in 2024 and the third in 2028. Counting the 2020 halving that already occurred last year, Bitcoin has experienced a total of 3 halvings since its launch in 2009. Historically, in the year following each halving, the bitcoin price shoots up exponentially due to an increase in demand and decrease in supply in the market.
In other trending Bitcoin News today: President Bukele Teases El Salvador’s Volcano-Powered Bitcoin Mining Preview! El Salvador’s President, Nayib Bukele, used Twitter to give an early peak at the planned Bitcoin mining setup, which would be powered by volcanoes. Earlier this month, Salvador became the first country in the world to recognize Bitcoin as legal money. The country’s congress passed the Bitcoin bill with an overwhelming yes vote. The President also announced ambitions to turn small island nations into a hotspot for environmentally friendly Bitcoin mining.
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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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https://bitcoinmagazine.com/culture/bitcoin-10-million-price
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BITCOIN WILL SEE A “MONSTER BREAKOUT” IN THE NEXT THREE DAYS!!! | BTC Ready for ‘Extraordinary Move’
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According to a cryptocurrency trader, Bitcoin will see a “monster breakout” in the next three days as the BTC price continues to tighten on a macro scale.
He shared the chart which shows that per the Bollinger Bands, a key technical indicator denoting volatility and key levels, BTC’s price action is extremely tight.
Separate analyses of the Bollinger Bands indicator have found that they are at their tightest levels since November 2018.
What followed the consolidation, of course, was a 50% drop over the span of two weeks that ended the bear market.
This suggests there will be an imminent move of macro proportions, likely to play out within the next week or two.
Bulls Are In Control?
Volatility indicators do not indicate which way the leading cryptocurrency will break.
But with this latest news and new analyses, a growing number of traders are betting on the case for upside.
KI Young Ju, the chief executive of cryptocurrency analytics firm CryptoQuant, shared the charts below on July 20th.
Attached, he wrote that there are three on-chain indicators signaling investors to “BUY.”
These indicators are as follows:
* Addresses linked to Bitcoin miners are not sending their coins to exchanges, suggesting they are not being sold. * Large BTC holders deemed “whales” remain HODLing their coin.
* The reserve of BTC on exchanges “hit the year-low a month ago and [it has kept] that low.
This suggests there remains an accumulation mindset amongst a majority of cryptocurrency investors.
Further adding to the bull case forming, digital asset manager Charles
Edwards noted last week that his flagship indicator just printed a macro buy signal. “Bitcoin Hash Ribbons “Buy” signal just confirmed.
The post-Halving signal is particularly special. It will probably be a very long time until the next occurs. …and so the great bull run begins.”
In other trending Bitcoin News today:
Bitcoin Appears Ready for Extraordinary Move in Just 48 Hours, According to Morgan Creek Digital Partner
Bitcoin’s three-month-long tightening trading range may end in about 48 hours, says Morgan Creek Digital executive Jason Williams.
Williams tells his 41,000 Twitter followers that BTC appears to be poised for a big move as the leading cryptocurrency approaches the apex of an ascending triangle pattern on the short-term timeframe.
“This feels like a little World Cup of sorts. Bitcoin could break out on or about the 22nd. I don’t think I would want to be on the sidelines going into this… Bitcoin volatility could be extraordinary to the upside.”
The Morgan Creek Digital co-founder is not the only analyst who expects the end of BTC’s tightening range soon.
Crypto strategist Ethereum Jack sees the king cryptocurrency exploding within the next seven days as Bitcoin’s spot volume hits a level that precedes significant price expansion.
A dwindling volume indicates that many traders are on the sidelines while waiting for an asset to provide clarity in terms of direction.
Meanwhile, the pseudonymous crypto trader Walter Wyckoff believes that Bitcoin will breach resistances as it gets a helping hand from a bullish S&P 500.
“Probably SPX [is] gonna rip on vaccine news and if that happens [it is] gonna pull up BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of BTC. Can’t see Bitcoin giga dumping while markets make new highs.”
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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 feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.I don’t think I would want to be on the sidelines going into this but low time pref 🧠
Tina and I both agree that #bitcoin volatility could be extraordinary to the upside. @BitcoinTina pic.twitter.com/EWoB0Tv8VW
— Jason Williams 🦍 (@JWilliamsFstmed) July 19, 2020
On-chain Indicators Status: BUY 🟢– Miners are not selling (based on MPI, Miner Outflows)
– No significant #BTC exchange inflows from whales so far
– All exchanges’ reserve hit the year-low a month ago and keep that low pic.twitter.com/IzEmujvbsU— Ki Young Ju (@ki_young_ju) July 20, 2020
Bitcoin Will See a “Monster Breakout” in the Next Three Days: Analyst
https://cointelegraph.com/news/paypal-to-reportedly-offer-crypto-trading-through-paxos-partnership
https://cointelegraph.com/news/bitcoin-surges-to-93k-for-first-time-in-a-week-is-it-a-fakeout
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,000 BITCOIN EXTENDED TARGET TRIGGERED!! YEAR-END GOLD AND BTC PRICE PREDICTIONS!!
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Crypto analyst spotted this strong Bitcoin bullish harmonic structure in an advanced form.
The pattern is pointing towards a $32,000 BTC price as the next bull run target.
Yesterday, Bitcoin price reclaimed its critical $12,000 resistance before suddenly dropping by $500 in seconds to fill futures gap.
A bounce off $11,500 saves investors from serious pain but $12,000 remains a problematic level to flip to support.
Data from Cointelegraph Markets and Coin360 showed BTC/USD nosedive 4% during Monday trading, bouncing off $11,500 and since returning to $11,700.
In doing so, Bitcoin neatly filled the latest gap in CME Group’s Bitcoin futures markets, which lay just below $11,700.
A classic move, Cointelegraph predicted on the day that markets would likely attempt to go lower on short timeframes to fill the gap, in line with standard behavior.
The event caused a dramatic spike in liquidations on derivatives giant BitMEX, data from monitoring resource Skew confirms.
For Cointelegraph Markets analyst Michaël van de Poppe, the sudden dip suggested that Bitcoin was returning to the pattern of behavior seen in recent months.
“Smaller timeframe chart explaining what just happened. Essentially, we’re back into the ranging gameplan,” he told Twitter followers.
“Ranging” within a certain price corridor has become a feature of BTC/USD in 2020, with recent gains upending a protracted period, which slowly narrowed to point — a process known as compression.
Going forward, lower levels could see a retest, with significant support just above $10,000 still apt to form the price floor, Van de Poppe thinks.
“Larger timeframe; still expecting such a scenario,” he continued.
“If we break $12K however, I assume we’ll see $13k.”
Attention will thus now focus on bulls’ ability to cement $12,000 as a support zone, something which has yet to occur on any meaningful level for Bitcoin.
Nonetheless, the latest weekly close marked the highest since January 2018 and the initial fall from Bitcoin’s all-time highs of $20,000.
In other trending Bitcoin News today:
‘Capital Flight out of Asia Is Taking Bitcoin Express’ Says Max Keiser
Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes.
Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that rising tensions in Asia are one of factors for Bitcoin’s rally up to $12,000.
In an Aug. 10 tweet, Keiser argued that Bitcoin is a solid method to move big amounts of money abroad while crossing borders.
According to Keiser, a number of people in Asia are using Bitcoin to move their money out of the continent as geopolitical tensions risk affecting markets.
“Capital flight out of Asia taking the Bitcoin express,” Keiser wrote. Comparing Bitcoin to gold — one of the world’s most popular safe-haven assets, Keiser argued that Bitcoin is one of the few ways to move a fortune abroad. Keiser said, “You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you. (Something near impossible with gold).”
The news comes amid reports of Chinese citizens illegally crossing into the United States with $28,000 worth of gold bars.
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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:
#Bitcoin up as tensions rise in Asia
Capital flight out of Asia taking the #Bitcoin express
You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you
(Something near impossible with Gold)
— Max Keiser (@maxkeiser) August 10, 2020
$BTC #BITCOINSmaller timeframe chart explaining what just happened. Essentially, we’re back in to the ranging gameplan.
Larger timeframe; still expecting such a scenario. If we break $12K however, I assume we’ll see $13k. pic.twitter.com/vjnJzJfVzC
— Crypto Michaël (@CryptoMichNL) August 10, 2020
https://www.tradingview.com/chart/XBTUSD/CtL1HlXn-Bitcoin-to-32k/
https://news.bitcoin.com/year-end-gold-and-bitcoin-price-predictions-from-regular-everyday-people/
https://cointelegraph.com/news/bitcoin-price-suddenly-drops-by-500-in-seconds-to-fill-futures-gap
https://cointelegraph.com/news/capital-flight-out-of-asia-is-taking-bitcoin-express-says-max-keiser
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