BITCOIN CRASHING AS WHALES MASS ACCUMULATE!!!! RELIEF RALLY COULD TAKE BTC TO THESE PRICE LEVELS!!!!

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Mike Novogratz, CEO of crypto management firm Galaxy Digital, is revealing when he thinks Bitcoin will hit his target of $500,000.

In a discussion with Michael Saylor on the WORLD.NOW event hosted by MicroStrategy, Novogratz proposes that Bitcoin will continue to perform well, more so as a store-of-value asset rather than as a currency.

“I think we’ve hit a tipping point in this network effect I talked about, and my base case is: if I look at Bitcoin as a percentage of gold, I think Bitcoin is going to be digital gold. I know a lot of people disagree with me. They’ll think, ‘No, it going to be money. It’s going to be the blockchains of all blockchains,’ I just don’t think so. I think it’s got a beautiful lane as a store of value. It was perfectly designed as a store of value.”

Seeing it as a store of value asset, the Galaxy Digital head says he believes the largest crypto asset will continue to catch up to gold’s $10 trillion market capitalization as it prints gains of over 10x in as little as three years.

“I think of it as, ‘What percentage of market cap is gold?’ We’re about 6% of the gold market cap. My sense is by the end of the year we are easily 10%. So that gets you to Bitcoin $55,000-$60,000. I know as soon as we get to 10%, we’re going to say, ‘Well why 10? Why not 20?’ And when we get to 20%, we’re going to be 50%, and then we’re going to be 100%.

So I would be $60,000 end of this year, and I’m $500,000 probably like 2024-2025… It doesn’t happen overnight. It happens with more and more education, with more and more seminars like this, with more and more communities buying into the idea.”

In other trending Bitcoin News today:

Roses Are Red, Violets Are Blue, Bitcoin Hits $49K And A New All-Time High Too

The Bitcoin price achieved a new record above $49,500 on Valentine’s Day on Feb. 14, rising to as high as $49,600 on Coinbase.

There are three main reasons Bitcoin surged to a new all-time high, high stablecoin inflows, clean break of the $38,000 resistance area, and a prolonged consolidation phase.

Throughout the past several days, despite Bitcoin’s consolidation below $38,000, on-chain analysts pinpointed the continuous increase in stablecoin inflows.

According to data from CryptoQuant, a data analytics platform, the Stablecoin Supply Ratio (SSR) rose significantly as it rallied from the mid-$30,000 region.

The SSR indicator shows the ratio of the market cap of Bitcoin relative to the aggregated market cap of stablecoins.

When the price of Bitcoin rises in tandem with the SSR ratio, then it means it is likely being driven by sidelined capital re-entering the market.

This trend is highly optimistic because it shows that the rally was not just driven by an over-leveraged futures market. In fact, it was genuine demand from the spot market that led the uptrend.

Atop the high stablecoin ratio, analysts also pinpointed the decline in selling pressure coming from miners.

The combination of the lower selling pressure from miners and the increasing stablecoin inflows into exchanges catalyzed the ongoing Bitcoin rally.

Bitcoin was consolidating under the $38,000 resistance area for a prolonged period. This presented a risk to the short-term bull cycle of Bitcoin.

When the price of Bitcoin hovers under a key resistance area for a long time, it increases the probability of BTC dropping to a lower support area to tap lower liquidity.

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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:

After the Bitcoin halving in May 2020, miners make half the $BTC they used to make.

Today, miners earned $4m in 1 hour, making it the biggest hourly revenue in history. h/t @glassnode

That’s how fast BTC has risen in the span of 9 months.

— Joseph Young (@iamjosephyoung) February 12, 2021

https://www.theblockcrypto.com/linked/94750/jpmorgan-bitcoin-btc-trading-client-demand-coo-comments

https://cointelegraph.com/news/roses-are-red-violets-are-blue-bitcoin-hits-49k-and-a-new-all-time-high-too

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We can expect the Bitcoin price to shatter $100,000 on this ‘exact date’ according to one of the most controversial BTC analysts in Crypto.

Using the stock-to-flow model (S2F), which divides the amount of Bitcoin in circulation by the amount of BTC mined per year, PlanB believes BTC is set to be over $100,000 on August 16th, 2021. 

The high-profile crypto analyst retweeted a post from Dutch entrepreneur Marc van der Chijs on the viability and timing of the S2F model.

“Most people think this is impossible, but I have seen a 1,000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again, anything is possible.” 

PlanB was the first analyst to apply the S2F model to Bitcoin.

Although it has plenty of critics, predictions from the model have so far been highly accurate. 

Over the weekend, the quantitative analyst told his 123,000 Twitter followers that the stock-to-flow ratio continues to be in step with Bitcoin’s price action.

“3rd red dot (currently $11,850) above 2nd red dot (bitcoin July close $11,356) and above 1st red dot (June close $9,132)… next target: December 2017 ATH close $14,000.”

In other rending Bitcoin News today:

ANALYST: BITCOIN COULD SURGE TO $17,000 ONCE THIS CRUCIAL LEVEL IS BROKEN

Analysts are now closely watching to see how BTC continues responding to $12,000, as it has yet to catalyze any sharp selloff during this latest push higher. While speaking about Bitcoin’s near-term outlook, one analyst explained that in an optimistic scenario, the crypto’s price could push as high as $17,000.

That being said, he also notes that there are hurdles in the way, with $13,000 being the first region he is watching.

“Bitcoin: Given the significance of this level, I’m starting to think this is becoming a very likely scenario. However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area.”

For this possibility to play out – or even come close to coming to fruition – it is imperative that Bitcoin breaks past $12,000 with decisive force.

EX-PRUDENTIAL CEO DOES A U-TURN: IT IS TIME TO BUY BITCOIN

In an interview with Fred Katayama of Reuters, Mr. Ball, who currently serves as the Chairman of the investment firm Sanders Morris Harris seemed to showcase a more positive stance towards Bitcoin.

Previously, George was a hater of the world’s top cryptocurrency and blockchain technology.

But now he thinks that Bitcoin makes for an attractive long-term investment. According to him:

“…it’s where many people will turn after Labor Day…” Ideally, as an investor, he would either want “to make a safe haven for my money or a short-term speculative bet.”

The ex-Prudential boss remarked that the current scenario in stock markets is boring, and the ‘liquidity flood’ is the only thing that’s keeping things afloat.

But that will soon end. Mr. Ball said that the continuous flurry of stimulus packages would eventually return to bite back the government, and added that: He thinks that ‘traders and investors should realign their portfolios substantially,’ and allocate sections of their portfolios to Bitcoin.

Why? Because BTC’s “…something that can’t be undermined by the government, and it won’t become worthless…” And that’s why wealthy traders and investors could probably turn to Bitcoin, as ‘there are no yields today.’

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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:

$BTC #BITCOINGiven the significance of this level, I’m starting to think this is becoming a very likely scenario.

However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area. pic.twitter.com/jSeAuyRhCp

— Crypto Michaël (@CryptoMichNL) August 15, 2020

No, $288k is the average in roughly mid2020-mid2024

— PlanB 🔴 🔴 🔴 (@100trillionUSD) August 17, 2020

Most people think this is impossible, but I have seen a 1000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again anything is possible. https://t.co/rOf63ud0zK

— Marc van der Chijs – new account (@marcvanderchijs) August 16, 2020

Analyst: Bitcoin Could Surge to $17,000 Once This Crucial Level is Broken

https://cryptopotato.com/ex-prudential-ceo-does-a-u-turn-it-is-time-to-buy-bitcoin/

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Strike CEO Jack Mallers was recently interviewed on CNN to talk about the Bitcoin global payments network with Strike and where BTC transaction cost are headed.

“If we’re all on the same standard, in the same way we’re all on the same internet – interoperability & connectivity becomes seamless, instant & free.

If Bitcoin was $100 or $100k, Strike can still get $$ from here to Japan instantly at no cost. The network’s going to disrupt the world no matter the price of BTC.”

Regarding Mallers Bitcoin price prediction moving into Q4 of this year, he shared the following, “I expect to go well into the 6 figures this year.”

In other trending Bitcoin News today: Bitcoin history repeating? 3 indicators suggest October will reignite the BTC bull market.

The flagship cryptocurrency has closed October in profit seven out of nine times since 2013, raising hopes that it will be able to log a fractal bull run in the next 31 days.

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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:

“If we’re all on the same standard, in the same way we’re all on the same internet – interoperability & connectivity becomes seamless, instant & free.”

Talking global payments with @ln_strike CEO @jackmallers and where transaction costs are headed!

“Race to the bottom, baby!” pic.twitter.com/Lcq18pW9I3

— Julia Chatterley (@jchatterleyCNN) October 1, 2021

https://cointelegraph.com/news/3-factors-that-can-send-ethereum-price-to-100-gains-in-q4

https://cointelegraph.com/news/bitcoin-history-repeating-3-indicators-suggest-october-will-reignite-the-btc-bull-market

https://cointelegraph.com/news/bitcoin-investors-no-longer-fearful-watch-this-btc-price-level-next