ETHEREUM 2.0 CRITICS CALL THE ENTIRE NETWORK “A SCAM”!!!! | Vitalik Buterin Enters ‘Beast Mode’!

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Last year, two academics concluded that the Bitcoin price rally in 2017, when BTC hit the all-time high, was caused by manipulation.

Now the research authors figured out that the surge was likely caused by a single entity. University of Texas Professor John Griffin and Ohio State University’s Amin Shams shared their updated research paper with Bloomberg where they double down on past claims that Tether, the biggest stablecoin issuer, was the sole reason the Bitcoin price surged to its insurmountable all-time high of $20,000 at the end of 2017.

Now, the academics claim that a single Bitfinex whale was actually responsible for fueling Bitcoin’s rocket to the moon.

“Our results suggest instead of thousands of investors moving the price of Bitcoin, it’s just one large one.”

In other Cryptocurrency news today, a few hours ago the Stellar Development Foundation burnt 50,000,000,000 XLM.

Ripple XRP has also been fiddling with Crypto token supply recently in a possible ploy to inflate token prices.

Stellar Lumens pumped 25% on the announcement and XRP also got a lift, but are they connected?

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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.

News Resources From Today’s Show:

$XLM just burned half their “total” supply The current “circulating” supply didn’t decrease from my knowledge, therefore I don’t see the rush to buy (though it will pump hard)

There are still 50 Billion tokens, people act like it’s a scarce asset 😄

— Josh Rager 📈 (@Josh_Rager) November 5, 2019

Ugh. Their “research” is based on an elementary misunderstanding of how financial assets work. It’s like saying that GLD is traded mostly by 1 person because it has a single custodian and a single point for creations and redemptions.

— Ari Paul ⛓️ (@AriDavidPaul) November 4, 2019

I continue to be disappointed by career academics that fail to understand Bitcoin/crypto market structure basics as well as the fundamentals of cause and effect. The rise of tether is a result of organic bitcoin and crypto demand in periods of hyper growth.https://t.co/fMyhwPC5oa

— Gabor Gurbacs (@gaborgurbacs) November 4, 2019

Bitcoin 2017 Surge Caused By Single Entity: Bloomberg

https://u.today/bitcoin-price-rally-in-december-2017-was-orchestrated-by-one-whale-research

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Mimicking 5,000% gains which were experienced during the previous BTC halving bull cycle, gives a Bitcoin price of $424,000, happening sometime in November 2021.

Obviously, there is no indication yet as to whether the 20MA will now act as support for an extended Bitcoin (BTC) bull run.

But, if we assume that we have reached that point in the cycle and project the same gains from this point as we saw from February 2016, we come up with an impressive new all-time high (ATH).

However, Cowen does not see fresh gains of 5,000%, rather than gains on the way to the next ATH may be a more conservative, although still huge 1,000-1,500%.

He also thinks that the market cycles are lengthening.

Specifically that the time between the halving and the peak has been getting longer.

After the first Bitcoin halving, the peak came after around 52 weeks.

However, after the second halving, this period increased to 73 weeks. Cowen, therefore, suggests that the peak following this year’s halving may take longer still, with a potential peak not occurring until 2022.

Still, that would give us a $125k BTC price sometime in early 2022, which is certainly not to be sniffed at… if we can stay above the 20MA as support.

Analyst Who Predicts Bitcoin Will Hit $1,000,000 Says This Ratio Shows BTC’s Big Advantage Over Amazon

PlanB, a closely-watched crypto analyst known for his bold prediction that Bitcoin will hit $1,000,000 over the next decade, says a popular ratio used to asses risk and reward shows the leading cryptocurrency’s potential upside compared to some of the biggest stocks on the Nasdaq.

The analyst is releasing a series of charts that apply the Sharpe ratio to BTC, Facebook, Apple, Amazon, Netflix and Google.

The ratio was created by Nobel laureate William Sharpe and is designed to show the amount of return an investor could potentially get for enduing the volatility of a risky asset.

The pseudonymous analyst says Bitcoin has a Sharpe ratio greater than 1, which is well above the competition.

“Bitcoin is the only asset with a ‘Sharpe ratio’ greater than 1! Classic asset (stocks, bonds, gold) risk and return [is] basically flat. Even FAANG (Facebook, Apple, Amazon, Netflix, Google) [are] not even close to BTC. Note I skipped Bitcoin’s first years (2009-2012) and updated data.”

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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 price was unable to reclaim level and has made its way back toward supportAll is not lost, want to see how it reacts at $8k

Be patient, you’ll be happy you stuck around this emotional roller coaster of a market in a couple years https://t.co/cKg6otZjeE

— Josh Rager 📈 (@Josh_Rager) January 25, 2020

They really should be calculated inside the same time period IMO, as Bitcoin has only ever existed inside a macro bull market, while many of those stocks weathered a financial crisis in 2008 and one or more bear markets which contributed to their Sharpe calculation.

— Willy Woo (@woonomic) January 25, 2020

Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Here’s Why

Can Bitcoin Price Hit $424,000 Sometime in Late 2021?

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Dan Held, growth lead at crypto exchange Kraken, is outlining the catalysts that he believes could ignite a Bitcoin ‘Supercycle’, catapulting the BTC price to $1 million.

In a new episode of the What Bitcoin Did podcast, Held explains why he believes the current bull market could grow exponentially larger than Bitcoin’s boom cycles in 2013 and 2017.

“When I look at these cycles though, what makes me very excited about this upcoming one, which could be… a supercycle, is that this time, is different. The 2013 bull run, the 2017 bull run, it was mainly based on retail-driven speculation. The macro markets, the rest of the world, was doing fine. It was a large bull run and these were mainly speculative cycles run by retail with a very shaky infrastructure…

With this bull run, we’ve got a lot of different things lined up.”

According to Held, Bitcoin’s primary use case as a store-of-value asset was put into the spotlight by the Covid-19 pandemic amid the rampant money printing of governments across the globe.

Covid was the catalyst moment that makes Bitcoin shine. With the Covid lens when we look at Bitcoin, for most people who had dismissed it previously, now it makes sense. And that’s where we see this echoed by the institutions. The managers of all the wealth in the world, the large portion of wealth in the world, they look at Bitcoin as a store of value, as a gold 2.0… And that is a huge value for the world. 

As the governments had their response to Covid-19 being money printing, that will devalue these currencies eventually and folks are looking at the 21 million fixed hard cap of Bitcoin. They are looking at this monetary policy, they are looking at Bitcoin’s construction, and how decentralized it is. Now you can store value in it and no one can take that value away from you, as this incredible lifeboat…

So Bitcoin’s demand, or people believing in Bitcoin, that market has grown tremendously to where now we have institutions.”

Held adds that the improvement in cryptocurrency infrastructure, which has made the flagship crypto asset more accessible to retail investors, is another factor that could continue fueling demand.

“We also have a much more vast retail customer segment. So retail buyers can now buy Bitcoin on PayPal, Robinhood, Cash App. They can buy it everywhere. And eventually, that’s going to reach brokerages like Fidelity, like within a retail brokerage Fidelity or E-Trade and Interactive Brokers. Eventually, you’re going to be able to buy Bitcoin everywhere, which means Bitcoin can now tap into all demand that wants it.”

For the current bull run to qualify as a supercycle, the Kraken Bitcoin needs to appreciate over 20x from its current value of $48,944.

In other trending Bitcoin News today:

Bitcoin Breaks $50K: Why BTC Price Is Primed For Another Leg Up

The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major exchanges, including Coinbase and Binance Futures.

CryptoQuant CEO Ki Young Ju explained that Bitcoin’s struggle to break past $50,000 is about “Coinbase whales (USD) vs. Stablecoin whales (USDT).”

Ki emphasized that there was a negative Coinbase premium at the time Bitcoin rejected $50,000 in the morning. For BTC to cleanly break past it, he explained that the negative premium has to be “cooled down.”

Since the initial rejection, the Coinbase premium has stabilized, reaching parity with Binance’s Tether price.

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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:

Number of the day: 4,000,000,000,000$4T of cash sitting in US non-financial corporations.$4T is also Gold’s financial cap.

$4T is also #Bitcoin‘s projected cap for end of this year on current models.

— Willy Woo (@woonomic) February 16, 2021

https://cointelegraph.com/news/bitcoin-futures-break-50k-why-btc-price-is-primed-for-another-leg-up