BITCOIN PREDICTION MODEL UPDATE AS ANALYSTS FLIP ON BTC!

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The Bitcoin price is not so far from reaching a $100,000 valuation, recalled Adam Back, founder of Blockstream.

The BTC price broke $10,000 when it was not even expected to move above $1,000.

Bitcoin (BTC) went on to revisit the $10,000 level with ease a few times.

Over the years, the bitcoin price reached a peak near $20,000, reached within just weeks from lows around $3,500.

Adam Back recently shared the following Tweets on Crypto Twitter:

“It’s closer than it sounds as along the path of hyperbitcoinization, the USD inflation rises, eg aided by Modern Monetary Theory rationale for high inflation, so $1 becomes worth say 10c over a decade or two of monetary craziness, then $10mil/BTC is $1mil/BTC in today’s money.”

“And $100k Bitcoin doesn’t seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.”

In other Crypto news today, this simple observation suggests Bitcoin is about to go parabolic.

Historical data suggests the BTC halving to boost prices pre-event. Cryptocurrency analyst Nunya Bizniz recently made an eerily bullish observation about Bitcoin.

He noted that in the two previous market cycles of the BTC market, the cryptocurrency performed extremely well starting 120 days (four months) out from the cycles’ respective block reward reductions, known as “halvings” or “halvenings.”

In the four months prior to the first halving in 2012, the price of BTC rallied dozens of percent higher from $10 to around $14 by the time of the event; and in the four months prior to the second halving in 2016, the price of Bitcoin went effectively parabolic, running from $432 to $700.

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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:

And $100k Bitcoin doesn’t seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.

— Adam Back (@adam3us) January 11, 2020

Bitcoin is about 120 days away from the halving.What was price action like 120 days prior to the first two halvings?

Whether you believe its priced in or not, if past is prologue – volatility may be expected. pic.twitter.com/7peG6Ir0m4

— Nunya Bizniz (@Pladizow) January 10, 2020

This Late Night Host Just Exposed Millions to Bitcoin, Again

This Simple Observation Suggests Bitcoin is About to Go Parabolic

Bitcoin Will Soon Have a $100,000 Price Tag: Adam Back

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One of the largest mutual funds in the U.S., Fidelity Investments, is enhancing its efforts in the Bitcoin and crypto space with its chief strategist, Peter Jubber, starting an institutional-grade and high net worth clients-focused BTC index.

According to a filing sent to the Securities Exchange Commission (SEC), Fidelity Investments has launched a new Bitcoin index fund, ‘Wise Origin Bitcoin Index Fund I, LP’ that targets high net worth investors and institutions.

A $100,000 minimum buy-in value is required by the index fund following the demand by corporations and accredited investors on Wall Street on cryptocurrency investments.

The Wise Origin Bitcoin fund was launched by the head of strategy and planning at Fidelity Investments, Peter Jubber, in conjunction with the mutual fund’s brokerage and distribution divisions.

The fund aims to provide a gateway for accredited investors on Wall Street to dip their feet into crypto.

Fidelity is known for its soft stance on crypto investing, owning stakes in crypto companies such as Canadian mining firm, 8Hut, and providing custodial services to institutions.

Jubber, also a well-known enthusiast and evangelist of Bitcoin and blockchain, in 2017 said the firm was sketching out a decade long plan on the impacts and opportunities that blockchain technology offers to traditional finance.

Peter will lead the ‘Wise Origin Bitcoin Index Fund’ as the executive director and FD’s Fund’s president.

Reports on Forbes also confirm that a Delaware based firm, FD Funds GP will become a general partner to Fidelity’s new BTC fund.

Fidelity’s reports on the cryptocurrency market this June showed that over 36% of big institutional investors were taking up digital assets, and another 80% of them stating they find crypto appealing.

Moreover, a recent report by the mutual fund concluded there is an increasing interest in Bitcoin as a store of value with the world’s witnessing unprecedented fiscal and monetary policies.

In other trending Bitcoin News today:

Stablecoin metric hints Bitcoin price will rise as buyers snap up BTC!

At $11,400, Bitcoin (BTC) is ripe for a fresh price surge thanks to stablecoin investors buying up cheap coins, data suggests.

Highlighting the latest readings from its stablecoin supply ratio (SSR) metric on Aug. 26, on-chain monitoring resource Glassnode forecast upside for BTC/USD.

SSR refers to the potential buying power of stablecoins over Bitcoin. A low Bitcoin price allows stablecoin owners, for example, on exchanges, to purchase more of the BTC supply.

This demand pushes the price of Bitcoin up, given its predictable, verifiable supply and high stock-to-flow ratio.

As the price increases, stablecoins, which remain priced the same in whichever fiat currency they are pegged to, can buy less of the BTC supply.

The ability to enter a BTC position is called “buying power.”

Currently, that buying power is high, meaning stablecoin owners can purchase a comparatively large amount of the supply.

“SSR is 3x stronger than it was when BTC hit these price levels over a year ago,” Glassnode commented.

In another tweet, the firm noted that the largest stablecoin, Tether (USDT), was conspicuously primed to enter such positions.

“Further support comes from an increase in the $USDT (ERC20) balance on exchanges over the past year — indicating that stablecoins are waiting on the sidelines.”

Tether’s market cap passed a landmark $10 billion in July. In terms of average daily transfer value, USDT beat both Bitcoin and PayPal this month.

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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 is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)

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— PlanB (@100trillionUSD) August 27, 2020

#phase5 https://t.co/JfCkPRQzAG

— PlanB (@100trillionUSD) August 26, 2020

https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12

https://ir.microstrategy.com/news-releases/news-release-details/microstrategy-adopts-bitcoin-primary-treasury-reserve-asset

https://cointelegraph.com/news/stablecoin-metric-hints-bitcoin-price-will-rise-as-buyers-snap-up-btc

https://cointelegraph.com/news/latest-fidelity-filing-outlines-mainstream-bitcoin-trading-product

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BITCOIN BTC DOMINANCE DOWN 11%

Bitcoin has started to consolidate just above the $10k mark but altcoins are still climbing which has pushed BTC dominance to an eight-month low.

Has the alt season finally arrived? Since the beginning of this year, the BTC market share has declined by almost 11%.

By the end of last year it had topped 70% but today it has dropped to 62.5% according to Tradingview.

This is the lowest it has been since early July 2019. The Bitcoin price itself has made around 44% this year in a climb from just under $7,200 to top out at $10,500 a couple of days ago.

These gains are impressive when compared to any other asset such as gold which has only managed just over 4% in the same period.

However, in the world of cryptocurrencies, these gains have been eclipsed by some of the altcoins, several of which have surged by three figures since the beginning of the year.

Total market capitalization itself is up over 60% since New Year’s Day as the rest of the cryptocurrencies out-perform their big brother.

Total crypto market cap topped $300 billion this week which is the highest it has been since early August last year.

XRP Price Hits 7-Month High as BitMEX Users Reel From 60% Flash Crash BitMEX continues to field major criticism and even anger from traders who lost huge amounts of money in a flash crash involving altcoin Ripple XRP.

The crash, which occurred at 14.00 UTC on Feb. 13, saw XRP/USD fall 60% from $0.33 to just $0.13 – for two seconds.

In that time, traders complain, measures designed to prevent liquidations of positions failed to activate, and BitMEX automatically erased their entire balances.

BitMEX is well known for offering trades with significant leverage. In the case of XRP, traders are able to leverage by up to 50 times.

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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:

Look urself in the mirror first dude and ask yourself, “who am I ? What am I?” You need it seriously.

— CRYPTO BUDDHA (@AntonioB162738) February 13, 2020

https://cointelegraph.com/news/xrp-price-hits-7-month-high-as-bitmex-users-reel-from-60-flash-crash

https://bitcoinist.com/bitcoin-dominance-drops-to-8-month/