BITCOIN PRICE OF 0K – 0K IS CONSERVATIVE!!! | CMDX Smart Currency Interview

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Cathie Wood, CEO of Ark Invest isn’t afraid to make bold Bitcoin predictions. Last month, she told CNBC that the BTC price could soar to half a million dollars in five years.

“If we’re right and companies continue to diversify their cash into something like Bitcoin, and institutional investors start allocating 5% of their funds in Bitcoin […] we believe the price will be ten-fold what it is today. Instead of $45,000, over $500,000.”

In other trending Bitcoin News today: BTC Price ‘Ready to Rally’ with Bitcoin Bulls Clear to Charge at $85K!

Closer to the present, Bitcoin’s three-day chart, which Decentrader holds to be an especially accurate price tool, is now bullish, contradicting the current bearish daily and neutral weekly setup.

This is one ingredient feeding into a probable channel for price action which could see Bitcoin hit $150,000 by the start of 2022.

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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:

https://finance.yahoo.com/news/cathie-woods-500k-bitcoin-call-120000814.html

https://cointelegraph.com/news/satoshi-nakamoto-s-bitcoin-white-paper-is-now-a-13-year-old-teenager

https://cointelegraph.com/news/btc-price-ready-to-rally-with-bitcoin-bulls-clear-to-charge-at-85k-analysis

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Could this pandemic be the ‘tipping point’ for the BTC price?

The global spread of the coronavirus played a major role in the dramatic 2020 stock market crash.

The bailout bill for saving the world’s economy is $7 trillion and rising fast.

Bitcoin bull Tim Draper believes this confluence of factors may be the ‘tipping point’ that allows innovations such as Bitcoin (BTC) and smart contracts to flourish.

In an interview on April 6, the global venture capital investor said he was skeptical about the government’s infinite money printing bailout plan and said it would take years before that money “permeates” the global economy.

“They are gonna be printing all this money to try to get the economy back after they’ve basically tanked it,” he said. “They are going to flood it with a bunch of money, and that money is going to be worth less, and less, and less.”

Draper believes people will start turning to Bitcoin as it has a fixed supply, in stark contrast to fiat which is being printed in the billions by central banks:

“This is going to be a really interesting time where people say ‘well, why don’t I just use Bitcoin?’ I know there are only 21 million of them and we don’t have to worry about whether a government is diluting their currency by printing tons of it, we can instead just use a currency we all agree on and it’s all a part of the economy and it’s already frictionless and open and transparent and global.”   

Although there is debate about whether coronavirus may end the trend towards globalization over the past 25 years, Draper believes digital financial innovations like Bitcoin, smart contracts and artificial intelligence will force governments to compete among themselves at the “virtual level” to bring better services at “lower cost” to attract talents. 

This in return will empower people with more choices to move freely and live in a “loving” and “nicer” new global world. He added that:  “It doesn’t matter whether you are from the U.S, China or Russia or India or Europe or whatever, we are an open world and then the geographic borders are going to mean less and less.”

Bitcoin Futures Did Not ‘Manipulate’ Bitcoin Price – Stock-to-flow-Creator

Bitcoin futures do not unfairly impact the price of Bitcoin (BTC), according to the creator of one of the cryptocurrency’s most accurate price models.

In a series of tweets on April 7, PlanB, the pseudonymous analyst behind the stock-to-flow model, argued that futures have not caused the Bitcoin price to behave erratically.

“CME launched BTC futures Dec 2017. Many point to Dec 2017 ATH as proof futures have suppressed prices. But BTC prices stayed perfectly within S2F bands. I would have expected this to happen with or without futures. Nothing unusual.”

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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:

IMO #bitcoin price is NOT manipulated by futures. CME lauched BTC futures Dec 2017. Many point to Dec 2017 ATH as proof futures have suppressed prices. But BTC prices stayed perfectly within S2F bands. I would have expected this to happen with or without futures. Nothing unusual. pic.twitter.com/Ek6CRsH3vx

— PlanB (@100trillionUSD) April 7, 2020

https://cointelegraph.com/news/bitcoin-futures-did-not-manipulate-btc-price-stock-to-flow-creator

https://cointelegraph.com/news/tim-draper-pandemic-could-be-the-tipping-point-for-bitcoin

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Bitcoin (BTC) may soar as high as $200,000 in this current boom cycle says prominent crypto analyst and DataDash founder Nicholas Merten.

In a recent installment of DataDash, Merten notes that the market cap for both DeFi and cryptocurrencies is relatively tiny compared to the rest of the global markets, with still tons of room to expand.

“[The cryptocurrency market cap is] $346 billion. Not that much. The global real estate markets are hundreds of trillions of dollars. If you’re talking about treasury markets, US government bonds are tens of trillions of dollars, global bonds for governments are over a hundred trillion dollars, equities markets are over a hundred trillion dollars. You get the gist.”

Merten also sees BTC as something that clearly follows all the basic laws of economics, such as supply and demand, and having the easily understandable narrative of being a store of value.

“I believe Bitcoin concisely is going to do well because the economics of Bitcoin make total sense. The narrative is they are of a store of value. But most importantly, the inflow and outflow economics are at play here, so we have the halving event which reduces the supply issuance and along with this as well we have people stacking Bitcoin at a record pace.”

As many Bitcoin traders use it as an indicator for future price action, Merten also referenced the stock-to-flow model (S2F) as evidence of a possible explosion to $200,000.

“If we look at the last cycle from the stock to flow, what we’ll realize is that after the halving initiated back here in the summer of 2016, as the fair value of Bitcoin actually went up into July of 2017, this is basically where the market should have topped it, around $5,000. It should have topped out in a year after the halving in July of 2017. 

But it didn’t. What happened was we had a delayed response here and what happened was we actually got up to the fair value range in October of 2017, and then massively overshot just like we did back over here for the stock-to-flow model towards $20,000.”

According to Merten, Bitcoin’s delayed response to the timeline as predicted by the S2F model suggests that BTC will likely experience an expanded cycle where it can potentially go well above the model’s target Bitcoin price of $100,000.

“I think this is going to give us the range to go beyond $100,000 possibly, maybe even towards $150,000 – $200,000.”

In other trending Bitcoin News today:

Bitcoin Bull Tim Draper Reveals The Secrets of His Altcoin Portfolio

Tim Draper, the prominent venture capitalist and tech billionaire who purchased nearly 30,000 Bitcoins (BTC) that were seized from the Silk Road, has revealed his digital currency holdings span at least half a dozen different crypto assets.  

Speaking at a recent investment conference, Draper revealed that his holdings include Bitcoin Cash (BCH), Ripple (XRP), Tezos (XTZ), and Aragon (ANT), adding:

“I’m a believer. I think it’s happening – [adoption] it’s coming. It’s so important for the world, and I want the world to know it, and I want other people in the world to get on board.”

Draper has been an active cryptocurrency investor for seven years, having made multi-million investments into several startups and burgeoning projects, including major U.S. crypto exchange Coinbase.

In 2019, he announced that he had moved entirely out of public stock in favor of cryptocurrency.

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Trezor: ► http://trezor.cryptonewsalerts.net

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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:

https://dailyhodl.com/2020/09/23/bitcoin-could-target-200000-this-cycle-according-to-crypto-analyst-nicholas-merten/

https://cointelegraph.com/news/bitcoin-bull-tim-draper-reveals-the-secrets-of-his-altcoin-portfolio