TIM DRAPER: Bitcoin (BTC) Is A Superior Currency That Frees People!

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Popular crypto analyst and trader Kevin Svenson is saying that Bitcoin is due for a steep rally to the six-figure level as BTC follows a widely-known pattern in the equities market.

“George Lindsay says the basement is essentially a bear trap… So it would actually be a good bear trap if we did actually continue with a move up to the first floor and that would mean over the next month or two, we would expect a move back up toward the $50,000 to $60,000 to form our first floor. And this could potentially lead us to into a final mania phase all the way up to the $200,000 level.”

In other trending Bitcoin News today: Adoption And Scarcity To Fuel A Bitcoin Run To $100K!

Despite having fallen by nearly 30% since its November all-time high, Bitcoin is in a consolidating bull market and on its way to $100,000, according to a Bloomberg Intelligence report. The paper said it is unlikely that BTC’s bull run has come to a halt and predicts the fixed supply to sustain increasing prices.

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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:

Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin

https://bitcoinmagazine.com/business/bitcoin-to-hit-100000-in-2022-bloomberg-report

https://cointelegraph.com/news/bitcoin-price-dip-may-end-wednesday-as-bitfinex-bids-hint-at-fed-buy-the-news-plans

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Aker ASA, a $6 billion Oslo Børs-listed holding company is set to begin investing in Bitcoin. According to a press release issued on Monday, Aker has created a new company called Seetee AS whose mission is to invest in BTC.

The newly formed Seetee will also delve into the Bitcoin mining arena while looking to forge useful partnerships with major players in the crypto space. Indeed, Seetee has reportedly entered into a collaborative agreement with Blockstream.

According to Blockstream CEO Samson Mow, the Bitcoin infrastructure firm will work closely with Seetee on its BTC mining and sidechain implementation pursuits.

Despite the Norwegian government ending electricity subsidies to BTC miners back in November 2018, Bitcoin mining activity in the country still contributes to a significant proportion of the global hash rate distribution.

Outside China, the country ranks eight in terms of global monthly hash rate according to data from the Cambridge Bitcoin Electricity Consumption Index. As previously reported by Cointelegraph, Bitfury signed an agreement with a private equity firm to upgrade the latter’s $35 million BTC mining farm.

The press statement also revealed that the new company will look to pursue investments into other firms in the crupto and blockchain arena.

Aker will provide 500 million Norwegian Krone ($58 million) in initial capitalization for Seetee with the new company holding all of its liquid investable assets in BTC. The move marks a significant departure from Aker’s usual investments in oil exploring and marine biotech sectors. Tweeting on Friday, Seetee revealed that it has already purchased 1,170 BTC.

Commenting on the rationale for exploring Bitcoin investments, Aker CEO Øyvind Eriksen remarked:

“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort.”

Aker is the latest in a growing list of companies around the world investing in Bitcoin. From business intelligence outfit MicroStrategy to electronic vehicle manufacturer Tesla, and Canadian restaurant have converted cash reserves to BTC in recent months.

In other trending Bitcoin News today:

Bitcoin Closes Its Second-Best Week Ever: 5 Things to Watch in BTC This Week

Bitcoin (BTC) starts a new week on a firmly bullish note as stocks tumble and BTC managed to close the week above $50,000. 

After a mixed performance last week that saw multiple tests of $46,000, buyer support is entering and BTC/USD is within 15% of all-time highs.

Coming in step with the stimulus announcement, local highs totaled $51,177 on Bitstamp. At the same time, positive investment news from China extended the supply shortage narrative, this focusing on institutional buy-ins reducing the already dwindling amount of BTC available for purchase on the market.

Despite failing to hold on Monday, the psychologically significant level did manage to remain for the weekly close, providing Bitcoin’s second-largest weekly close on record.

Analyzing trader behavior, Rafael Schultze-Kraft, co-founder and CTO of on-chain analytics resource Glassnode, forecast that a return below $46,600 is unlikely.

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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:

Today, we announced the launch of Seetee!
We are a new company in the Aker group, and will invest in ex­cit­ing projects and com­pa­nies through­out the #Bitcoin ecosys­tem.
Bitcoin is our treasury asset. Our first purchase was 1,170 BTC and our strategy is to hodl.

— Seetee (@Seetee_io) March 8, 2021

BEAUTIFUL!!!
The #BTC protocol working exactly as designed. Global FOMO kicking in. $77,000 short-term incoming.

$220,000 in 2021 on track. https://t.co/j3RNb9f5Tt

— Max Keiser (@maxkeiser) March 7, 2021

This support is holding nicely.

And it got stronger! We now have a wall of 1.2M $BTC that moved on-chain between $46.6k and $48.6k.

That’s 6.5% (!) of the circulating supply.I’d be surprised if we go below anytime soon.

I was long at

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Google Trends Suggests Bitcoin Price to Soon Explode

Since Bitcoin (BTC) investors got a taste of parabolic price action in early 2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more.

According to a Google Trends analysis, another parabolic rally is about to form in the Cryptocurrency market again.

Considering historical rallies, this next bull market could bring Bitcoin above $100,000, some analysts have suggested. Cryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, for the search term “Buy Bitcoin” have recently hit a seven-month high – the highest since June 2019.

In other Crypto news today:

A popular crypto strategist, who says Bitcoin will likely hit $50,000 to $100,000 by 2021 is analyzing the risk of a “death spiral” that could thwart his prediction.

The anonymous analyst known as PlanB is pondering whether the upcoming halving – which will slash the amount of BTC miners earn for processing transactions in half – will convince miners to switch off their rigs en masse.

The scenario could, in theory, start a so-called miner death spiral that increases Bitcoin confirmation times, lowers confidence in the network, and drags down the price of the leading cryptocurrency.

PlanB says he believes the risk of a death spiral is “effectively zero” due to a built-in feature on the Bitcoin network that automatically adjusts how much computing power is required to process transactions.

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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:

新年快乐 The year of the rat starts this weekend. Time for #Bitcoin volatility and volumes to nose dive.

— Arthur Hayes (@CryptoHayes) January 23, 2020

IMO co-integration between #bitcoin price & stock-to-flow means all network effects march lockstep: Investors, Speculators, Merchants, Consumers, Miners and Developers together … demand & supply, like clockwork! pic.twitter.com/7Ozq2Y9eVd

— PlanB (@100trillionUSD) January 5, 2020

Do you think May 2020 #bitcoin halving of miner reward will cause a mining death spiral or miner capitulation?

— PlanB (@100trillionUSD) January 22, 2020

1/ Googling for “Buy Bitcoin” just reached a 7 months high (Score 9). The long-term upwards trend is undeniable. The last time the score reached a 10 was:Nov ’13 (bull top),May ’17 (price on parabolic run-up),Jun ’19 (medium-term top)

>Feb ’20 (price on parabolic run-up?) pic.twitter.com/tkdXIEvM3Q

— CryptoKea (@CryptoKea) January 20, 2020

Key Google Metric: Bitcoin May Explode Into $100,000 Parabolic Rally

https://bitcoinexchangeguide.com/5-bitcoin-drop-is-nothing-special-during-chinese-new-year-bitmex-ceo-says-time-to-nosedive/