3 Key Metrics Suggest Bitcoin Price Has Completed Its Macro Bear Cycle | Altcoin Apocalypse?!

➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net

Dan Morehead, founder of Pantera Capital, says the Bitcoin price has a pretty good shot at hitting $100,000 per BTC by the end of next year.

Along with Micheal Sonnenshein of Grayscale Investments, together they share their bullish forecasts on the Bitcoin (BTC) price trajectory.

On a new episode of the Money Movement podcast, Morehead says he and his firm remain bullish on the godfather of cryptocurrency.

He believes BTC is gearing up for another bull run that would be deemed “ludicrous” by traditional standards.

“[Bitcoin’s] got a nine-year 209% compound annual growth rate and we think it will continue, and it’s just that simple. It has some bubbles, it has some down trades, but if it got back on that trend it would be at $100,000 at the end of next year.

In the normal markets, saying something goes up 10x is ludicrous and you’d be ridiculed but, it happens every three or four years and all the factors are coming together. So I think it is a pretty good shot that hits $100,000 at the end of next year.”

Sonnenshein says people shouldn’t be putting money into Bitcoin unless they can afford to lose it.

He cites a recent report from Grayscale that compares BTC’s current market structure to 2016 before the coin began a historic 4,400% rally.

“In my opinion, Bitcoin is not something people should be putting more money into than they can afford to lose. Think of it as an early-stage technology.

Buyer beware, it does have those 80% drawdowns, but from here, Bitcoin is either a hell of a lot higher and a lot more valuable than it is today, or something somehow comes along and displaces Bitcoin and we all move on to something else.”

In other trending Bitcoin News today:

This Newly Created Crypto Asset Just Surged 6,200% – And Bitcoin Trader Josh Rager Says It’s Just Getting Started

Crypto strategist and trader Josh Rager is a keeping a watchful eye on a new crypto token that has skyrocketed by about 6,200% in less than a month.

Rager tells his 87,000 Twitter followers he sees Shroom.Finance (SHROOM) doubling in value in the next 30 days.

“SHROOM is currently near $0.01 and if MEME can go from $30 to $1600 in one month, there’s no reason why SHROOM can’t go from current price to $0.50+ the coming month if Shroom bridges gaming, DeFi and NFTs, especially as liquidity is added in the coming weeks as LPs will be rewarded.”

According to its website, Shroom.Finance is a fork of the Sushiswap protocol.

The new crypto asset seeks to build community-owned DEXes (decentralized exchanges) that specialize in the $10-billion in-game asset industry.

“We foresee a future where in-game assets, fungible and non-fungible, trade freely in a decentralized fashion, and we are here to take that spot and facilitate the ownership to a community of gamers.”

Rager points to the emergence of the widely-talked about non-fungible tokens (NFTs) as a possible bullish catalyst for SHROOM.

“Let’s just say NFTs are one of the hottest trends to hit 2020. And Shroom Finance team is building a decentralized ecosystem for in-game assets trading and minting. This includes NFTs (ERC-721, ERC-1155) and ERC-20 token standards. I’m really bullish on SHROOM for long term.”

The trader also says that Shroom.Finance’s new DEX will allow SHROOM holders to participate and generate income via yield farming.

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

Prepare for a great Q4 2020 for BTC folks (blah blah, de-coupling, blah blah, new correlations). The difficulty ribbon is one of my more reliable personal favourites. https://t.co/syPL4RfFTD

— Willy Woo (@woonomic) September 28, 2020

$SHROOM is currently near $0.01 & if MEME can go from $30 to $1600 in one monthThere’s no reason why SHROOM can’t go from current price to $0.50+ the coming month if Shroom bridges gaming, defi & NFTs

Especially as liquidity is added in the coming weeks as LPs will be rewarded

— Josh Rager 📈 (@Josh_Rager) September 21, 2020

https://dailyhodl.com/2020/09/28/btc-set-to-erupt-in-ludicrous-bull-run-says-crypto-fund-manager-dan-morehead/

https://dailyhodl.com/2020/09/28/this-newly-created-crypto-asset-just-surged-6200-and-bitcoin-trader-josh-rager-says-its-just-getting-started/

https://cointelegraph.com/news/bitcoin-difficulty-ribbon-chart-hasnt-been-this-bullish-since-march

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

A narrative has formed over recent months that the Bitcoin price is closely correlated with gold.

But according to a recent analysis shared by a crypto trader, BTC may actually be closely correlated with silver.

The issue with this correlation is, silver’s price action is preceding that of Bitcoin by a few weeks.

The trader in question shared the chart on August 23rd.

The chart shows that should Bitcoin’s trajectory continue to follow that of silver, the cryptocurrency will soon trade at $20,000.

After hitting $20,000, the fractal also suggests that the BTC price will move to $30,000.

Few analysts actually expect Bitcoin to hit $30,000 this year, especially in just a few months.

But many analysts and investors, like BitMEX’s Arthur Hayes and Galaxy Digital, are adamant that $20,000 will be breached in 2020.

The fundamentals, like the silver fractal aforementioned, also suggest that Bitcoin is likely to move higher from here.

Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, recently said that Bitcoin’s trend of volatility suggests an uptrend is intact:

“Stuck between 3-9x over the past few years, the price of Bitcoin per ounce of gold tilts the crypto toward resuming appreciation, if volatility history tells us anything. The Aug. 19 cross rate of 6x is the same as in 2017, yet Bitcoins’s volatility has dropped relative to gold.”

McGlone has been touting the Bitcoin bull case for months now.

Also core to his positive sentiment is the influx of investment the cryptocurrency space is seeing, exemplified by institutional money flows through the CME, Grayscale, and other avenues:

“Bloomberg Intelligence Commodity Primer – Something unexpected needs to happen for #Bitcoin’s price to stop doing what it’s been doing for most of the past decade: appreciating. Demand and adoption metrics remain favorable vs. the #crypto asset’s unique attribute of fixed supply.”

McGlone says that Bitcoin could hit $20,000 in 2020, citing the similarities between this market cycle and the last one.

In other trending Bitcoin News today:

Fed, futures and fundamentals: 5 things to watch in Bitcoin this week

Bitcoin (BTC) starts another week in a bullish mood as hurdles line up to shape price trajectory.

Here are five factors determining where BTC/USD may go in the coming days, and what traders should look out for.

1 – All eyes on the Fed and U.S. inflation

Stocks saw records last week with the S&P 500 hitting all-time highs.

Despite a lower overall impact on Bitcoin, moves on macro markets are still more than capable of spilling over into cryptocurrency.

2 – Analyst eyes $9,600 for BTC price “buy the dip”

In a transaction analysis video on Sunday, van de Poppe added that in the event of a breakdown, the “buy the dip” level to look out for would nonetheless fall below $10,000.

“The real level I’m watching for buy the dip levels if we do break out is between $9,600 and $9,900,” he summarized.

3 – Bitcoin difficulty hits a new record

A mixed bag for Bitcoin fundamentals saw network difficulty adjust upwards 3% to hit new all-time highs, but hash rate trend lower.

According to data from monitoring resource BTC.com, difficulty increased by 3.6% on Monday to hit 18.17 trillion.

4 – $730 million options expire

62,000 BTC ($730 million) worth of Bitcoin options will expire on Aug. 28, reminiscent of the end-of-month action from June.

5- “Extreme greed” reigns supreme

Bitcoin investor sentiment is “extremely greedy” and getting greedier. 

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

This Eerie Silver Fractal Predicts Bitcoin Will Soon Shoot Towards $20k

https://cointelegraph.com/news/fed-futures-and-fundamentals-5-things-to-watch-in-bitcoin-this-week

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

CNBC’s Brian Kelly says he believes Bitcoin is ready to once again surprise the naysayers and begin a blistering parabolic bull run.

In a new interview on Fast Money, Kelly points to the recent BTC halving, which cut the rate of new supply entering the market in half, as a prime reason Bitcoin is set to outperform gold amid the shaky global economy.

“For me, it’s going to be Bitcoin. You might say I’m biased because I run a crypto fund, but that’s not it. I also trade macro, which means I have a whole bunch of different things I can invest in: currencies, stock, bonds, precious metals. And when I look at precious metals versus Bitcoin, Bitcoin has better fundamentals.

And with fundamentals, I’m talking about the stock-to-flow ratio. It’s better than gold at this point because we had the halving, and when I look at the Bitcoin cycles, the bull markets tend to cluster around the halvings.”

Kelly says he thinks Bitcoin is on track to return to its all-time high of $20,000 within six months, with $50,000 coming next year.

In the same time frame, he doubts gold will double in value.

“So we’re tracking right along the 2016 halving cycle and that would imply that sometime in Q2 2021, you’re looking at a Bitcoin price of $50,000. So that’s kind of the long-term target. And in the shorter term, $10,500 was a really big number.

We’re breaking out of a two-year range. It would not surprise me, this is just pure trading 101, once you break out of a range, [an asset] goes to prior highs. That’s $20,000. To me, I think that’s three to six months down the road. So Bitcoin looks like it could go two to five times higher.”

When pressed on why he’s overly bullish, with many sky-high Bitcoin predictions failing to materialize in the past, Kelly said he believes his forecast fits right in with Bitcoin’s prior price history.

“What we know about Bitcoin is it’s extremely volatile. It’s highly speculative, and when it goes on these speculative runs, it goes a lot further than people expect.

So I don’t think saying $20,000 is that outrageous when it’s already been there. You might question me on the $50,000, but that’s a year from now.”

In other trending Bitcoin News today:

Ethereum Rockets 50% in 5-Year Anniversary Month: What’s Behind the ETH Rally?

The Ethereum price has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase.

It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol.

There appear to be two key factors fueling the rally of ETH. 

First, the anticipation of the market towards ETH 2.0 has been continuously building.

Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum.

In mid-June, DeFi platform Compound essentially kickstarted the phenomenon called “yield farming.”

Ethereum users would flock to DeFi platforms providing the highest incentives, trying to obtain the highest yield possible.

Since then, several major DeFi platforms have emerged. According to Defipulse.com, Aave, Balancer, and Curve Finance have $482 million, $291 million, and $263 million locked in, respectively.

Consequently, the total value locked in the DeFi space has increased to $3.94 billion.

It is up by more than three-fold since the beginning of June.

The upward trajectory of the DeFi market could positively affect Ethereum for various reasons.

The most prominent factor is its usage as gas.

When users clog the Ethereum blockchain with many transactions, ETH is needed to pay transaction fees or “gas.”

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

$COMP appears to be in a great position for a potential turnaround, according to the real-time metrics we’re seeing on Sanbase PRO. Track the chart to see the bullish developments for:1. DAA2. Network growth3. Transaction volume

4. Social volumehttps://t.co/4EleYExoKL pic.twitter.com/ZXWesq0hNQ

— Santiment (@santimentfeed) July 30, 2020

https://cointelegraph.com/news/ether-rockets-50-in-5-year-anniversary-month-whats-behind-the-rally