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Mike McGlone, a senior commodity strategist for Bloomberg Intelligence, believes the Bitcoin price could shoot past the price of an ounce of gold – by around 100 times.
In the July 2021 edition of the monthly cryptocurrency newsletter ‘Bloomberg Crypto Outlook’, McGlone says that based on technical analysis, BTC could keep appreciating relative to the coveted metal.
“Bitcoin may be more than a digital version of gold. A potential path for the Bitcoin price is to stabilize around 100x an ounce of gold and for volatility to resume its downward trajectory, if past patterns repeat.”
In other trending Bitcoin News today: “Top Analyst Predicts Parabolic Bitcoin Rally, Says Bull Market Gearing Up for Final Phase”
A prominent crypto strategist and trader is predicting a parabolic rise in Bitcoin’s value that would make the rise to the recent all-time high of $64,000 a blip in the chart.
Jack Sparrow, the crypto analyst who accurately predicted BTC’s rise to $19,000 last year, tells his 203,600 followers that he’s positioning himself to capture the possibility of a massive Bitcoin ascent to $380,000.
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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:
I Stand By My $100,000 Bitcoin Price Target, Anthony Scaramucci
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MAX KEISER SAYS BITCOIN COULD RISE 300X AS BTC SETS ITS SIGHTS ON THE DOMINANCE OF THE US DOLLAR!!
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Crypto evangelist Max Keiser says Bitcoin (BTC) could increase 300x as it sets its sights on the dominance of the US dollar.
On a new episode of RT’s Keiser Report, the Bitcoin bull shares a Morgan Stanley report with his 4.17 million YouTube subscribers that says the flagship cryptocurrency will remain an asset class and is a viable alternative to gold as a store of value and the US dollar as a means of exchange.
“Do you accept fiat money where the volatility is zero, but the loss of purchasing power is guaranteed? Or would you prefer Bitcoin, where there is volatility but the gain in purchasing is guaranteed? Those are your two options.”
Keiser adds that the king coin is close to dominating the precious metals market. He forecasts that BTC will overtake silver within a few months and get halfway to gold’s market capitalization in 2021.
“Once it gets past gold, only the dollar is left and the thing about Bitcoin is that it is the apex predator. It is the shark in an ocean full of goldfish and or plankton, which is the US dollar.
They print a lot of dollars but they’re not particularly robust and they are going to be decimated as Bitcoin dominates and becomes the global world reserve currency as we predicted. Morgan Stanley now is finally waking up to this.”
Keiser points out that as Bitcoin displaces gold and the US dollar, the value of the leading cryptocurrency will rise meteorically.
“I guess it’s going a lot higher because it has to replace gold. It has to replace the US dollar. The total addressable market (TAM) for Bitcoin is $300 trillion. It’s now at $1 trillion. It’s got a 300x path to go from here. Own it or have fun staying poor.”
In other trending Bitcoin News today:
En Route to $200K? Bitcoin Closed February 26% Above Stock-to-Flow Model Price
The bitcoin price is outpacing the popular Stock-to-Flow (S2F) model, which predicts that the BTC price would eventually reach $200,000.
The S2F model forecasts the long-term price trend of Bitcoin by taking two main factors into account, namely the amount of BTC in existence (the stock) against the amount of newly mined coins entering the market (the flow).
According to the the S2F multiple, the price of Bitcoin should be hovering at around $36,851 in order for the S2F model to be on track.
Due to the recent bull cycle and Bitcoin’s strong momentum, BTC/USD is now well above the S2F estimate at around $49,000.
Saifdean Ammous, the renowned author of The Bitcoin Standard, emphasized that Bitcoin rarely diverged from the S2F model since it was created well over two years ago.
As Cointelegraph previously reported, S2F creator PlanB said that he has no doubt the price of Bitcoin would reach $100,000 by December 2021, based on the model.
In mid-2020, PlanB said Bitcoin could tap anywhere between $100,000 to $288,000 by December of next year. He said:
“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!”
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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 Analyst Sees “Aggressive” Bull Run Towards $64,000; Here’s Why
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‘NO DEBATE’ THAT BITCOIN WILL INCREASE 20-30X PUSHING PRICES AS HIGH AS 0K SAYS GOLD INSIDER!!
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Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin surges into the six-figure threshold as $15 trillion in institutional capital could flow into BTC, pushing the Bitcoin price as high as $500,000.
Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation, Bitcoin is king, even though he believes investors should own both gold and Bitcoin:
“In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.”
He went on to add, “I don’t really think that anyone in the gold world […] they are not going to debate that.”
Tapiero believes that institutional investors and finance whales are likely to invest between 5% and 15% of their portfolios in Bitcoin, and noted that the sector was currently worth $100 trillion:
“That’s a huge chunk. I mean, 15% of $100 trillion is $15 trillion.”
But gold is a store of value, and that is only one aspect of what Bitcoin is. Bitcoin is an entire network, and that’s why he believes it will be much bigger than gold:
“There is no question that Bitcoin is going to outperform gold.”
Other analysts are similarly bullish about Bitcoin, with Off the Chain Capital chief investment officer Brian Estes telling Reuters today that it “is not a stretch” for BTC to surpass $100,000 in one year, and predicted that it could go as high as $288,000 by the end of 2021.
CNBC host Jim Cramer also believes in the future of Bitcoin, as revealed on another podcast with Pompliano. Cramer, who was a Bitcoin skeptic during the 2017 bull market, recently stated that he had since realized that Bitcoin is a good hedge against inflation and also one that his kids can understand:
“I think that my kids, when they get my inheritance, won’t feel comfortable with gold, and will feel comfortable with crypto.”
In other trending Bitcoin News today:
Bitcoin Could Be On Track To $74,000, Trader Says As Cryptocurrency Approaches All-Time Highs
“It’s hard to give Bitcoin an intrinsic fundamental value because there’s pretty much a finite supply,” Todd Gordon, founder of TradingAnalysis.com, told CNBC’s “Trading Nation” on Tuesday.
Only 21 million bitcoins will ever be produced.
“The point of all this is a reliable relationship in the Elliott wave theory is the percent distance traveled in that first wave in 2014 is often equal to the percent change in wave five,” Gordon said.
Seeing as the first wave was a roughly 658% rally, Gordon’s target was a lofty one.
“I can’t believe I’m going to go out on CNBC and say this, but it’s about 74,000,” he said. “The Elliott wave goes very well with … Fibonacci multiples. If it does want to fall short, it can go to 61% of that target, which is only at 34,000.“
Another trader saw even loftier heights ahead for the crypto play.
“I’ve always had to own some,” Mark Tepper, president and CEO of Strategic Wealth Partners, said in the same “Trading Nation” interview.
“It’s like a FOMO concept for me,” he said. “If I never owned any and bitcoin hits 100,000 per coin, I’d probably cry myself to sleep every night for the rest of my life if I didn’t own some.”
“You can kind of compare this to Tesla,” he said. “Tesla’s up over 500% this year. In my opinion … I think bitcoin could potentially be the Tesla of 2021. It could, in my most bullish case possible, get to 100K by the end of next year. That’d be my bull case. I think my base case is a little closer to it doubling up to about 40K 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:
it is not too late for Bitcoin.. great alternative to gold… which i have always believed in
— Jim Cramer (@jimcramer) November 24, 2020
https://cointelegraph.com/news/2-counterarguments-for-cnbc-s-brian-kelly-who-sees-a-19k-bitcoin-top
https://www.cnbc.com/2020/11/24/bitcoins-on-track-to-74000-trader-says-as-crypto-nears-records.html
https://cointelegraph.com/news/no-debate-that-bitcoin-will-increase-20x-says-gold-industry-insider
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BITCOIN COULD BE WORTH MILLIONS OF DOLLARS EACH SAYS NORWEGIAN OIL BILLIONAIRE!! $200M BTC FUND!!
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Billionaire Kjell Inge Rokke’s company, Aker, has established a new business dedicated to Bitcoin. Rokke believes that BTC could “become the core of a new monetary architecture” and each coin could be “worth millions of dollars.” His new company “will keep all its liquid investable assets in bitcoin.”
Norwegian oil billionaire Kjell Inge Rokke has spoken in favor of bitcoin. His company, Aker ASA, which controls oil and oil service companies, announced Monday that it has established a new business, Seetee AS, to tap into the potential of the cryptocurrency.
Listed on the Oslo Stock Exchange, Aker is a Norwegian holding company engaged in offshore fishing, construction, and engineering. Established in 2004, the company is controlled by Rokke with 67% ownership through TRG Holding.
In its announcement, Aker described Seetee as “a new company dedicated to investing in projects and companies throughout the bitcoin ecosystem and which will keep all its liquid investable assets in bitcoin.” Seetee is starting with 500 million kroner ($59 million) in capital, which Rokke called “an amount we aim to increase significantly over time.”
Following the announcement, Rokke expressed his view on bitcoin and the new enterprise launch in a shareholder letter published on Seetee’s website. The billionaire wrote:
“We will use bitcoin as our treasury asset and join the community. In bitcoin speak, we will be hodler.”
Initially, Seetee will focus on four areas. The first is “investing in and owning bitcoin.” The second is “joining the bitcoin and broader blockchain community and establishing partnerships with leading players.” The third is “launching bitcoin verification operations,” and the fourth is “building and investing in innovation projects and companies in the bitcoin and blockchain ecosystem.”
Seetee will actively partner with other companies in order to accelerate its initiatives, the announcement adds, noting that the company has “entered into a collaboration agreement with Blockstream,” which “will initially focus on mining operations.”
Rokke further opined:
“Bitcoin may still go to zero. But it can also become the core of a new monetary architecture. If so, one bitcoin may be worth millions of dollars.”
He added: “The direction is clear: finance will be disrupted as surely as fossil fuels will be. The question is not if, but when.”
In other trending Bitcoin News today:
BITCOIN FIRM NYDIG GETS $200M INJECTION FROM MORGAN STANLEY, SOROS
Earlier today, NYDIG, a leading provider of investment and financial solutions for Bitcoin, announced that they were receiving $200 million in growth capital funding led by strategic partners Morgan Stanley, Soros Fund Management, FS Investments, Stone Ridge Holdings, Mass Mutual and New York Life. FinTech Collective and Bessemer Venture Partners, who previously funded NYDIG, also took part.
NYDIG will be working with these firms on Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy.” He also promised that through the $200 million investment from their strategic partners, NYDIG would deliver “an explosion of innovation in Bitcoin products and services.”
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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:
Top 4 stories on ZH today.
Inflation/hyperinflation is here now! #Bitcoin tops $1 trillion and is headed to a $4 trillion+ market cap ($220,000 per coin) in 2021 – as flight-capital jumps the fiat ship and finds safe haven in Bitcoin pic.twitter.com/zOruSWdMh1
— Max Keiser (@maxkeiser) March 9, 2021
Bitcoin Firm NYDIG Gets $200m Injection from Morgan Stanley, Soros
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