Best Places to Earn Interest on Your Cryptocurrency | Bitcoin Bears Target ,000

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BITCOIN (BTC) BREAKING THIS LEVEL WILL VALIDATE BULLS, HURT BEARS

Although the Bitcoin price seems volatile, the cryptocurrency has been in a period of consolidation over the past two weeks, stalling in the high-$6,000s and the low-$7,000s after briefly interacting with the highs of $7,470.

Bitcoin seems to be stuck between a rock and a hard place, with any move below $6,700 being bid heavily and $7,300-$7,400 failing to crack due to that zone’s historical importance to the market.

But according to a prominent crypto analyst, if a certain price point is reached, fireworks — or a rapid move higher, in other words — are likely to follow.

A trader with the moniker CryptoYoda — who has garnered over 200,000 followers on Twitter — on Saturday released the latest iteration of his technical analysis newsletter series, the Letters from Dagobah.

In it, he explained that while the market structure is leaning bearish due to the existence of a rising wedge formation and a head and shoulders pattern — two trends that are bearish by textbook definition — Bitcoin breaking $7,475 would invalidate the bear case, “pushing Bears out of their positions while inviting Longs buying the Bears’ pain”:

“A takeout of that High could lead to massive covering of Shorts and buying on volume leading to a strong rally, especially as buyers have already eaten through the Resistance levels of previous Lows.”

What he’s explaining is that if Bitcoin manages to set new highs, it will prove that the ongoing consolidation is not indicative of a top, but is instead consolidation proceeding bullish continuation, likely to $8,000 and beyond.

Importantly, the analyst did admit that if this breakout can take place, there remains “significant overhead Resistance” with the daily 100 and 200 exponential moving averages at $7,600 and $7,900, respectively.

$3,000,000,000 in ‘Dry Powder’ Poised to Enter Bitcoin (BTC) and Cryptocurrency Markets: Messari CEO

The CEO of blockchain database startup Messari says there’s a huge amount of crypto capital sitting on the sidelines, ready to move into Bitcoin, Ethereum, XRP and the greater altcoin markets.

Ryan Selkis cites new data that shows cryptocurrency exchanges are now holding over $3 billion in stablecoins on behalf of their customers.

He says these investors are in a strategic position to re-enter the speculative crypto market at a moment’s notice.

“There’s now $3 billion++ of stablecoins sitting on exchanges. If investors wanted to cash out of crypto completely, they would have withdrawn funds to banks. Instead, we’ve got more dry powder held in the crypto economy than ever before. In both real and market cap % terms.”

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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:

Bitcoin Breaching This Level Will Trigger Market Fireworks: Analyst

https://u.today/active-bitcoin-btc-supply-hits-new-high-in-6-months-as-hashrate-drops

https://yoda.substack.com/p/the-attempted-break

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‘Rich Dad, Poor Dad’ best selling author Robert Kiyosaki has again taken to Twitter to talk Bitcoin (BTC) to his followers in the context of the QE measures that the Fed Reserve resumed last week.

He also reminded the community that three weeks ago, the US Congress suggested giving the Fed access to $425 bln so it could “extend emergency support to failing businesses or struggling localities”, as reported by The New York Times.

The ‘Rich Dad, Poor Dad’ author said that ordinary people should buy more Bitcoin, as well as other safe haven physical assets – here’s why.

The famous investor Robert Kiyosaki, who made a fortune after the 2008 financial crisis on real estate and the author of a bestselling book on finance and investments, recently proved to be a major Bitcoin supporter.

Unlike other BTC bulls, he does not put gold and Bitcoin into opposing camps.

In his recent tweet, he reminded the community about the recent suggestion from republican US senators to create $425 bln in funding to be used by the Fed Reserve in order to support its emergency cash printing.

Kiyosaki referred to that with a rhetorical question, ‘Is Fed broke?’.

The investment guru reminded his followers that the Fed has been printing extra cash since 2008.

He fears that after the US Central Bank prints tons of money to bail out large corporations and SME, someone will have to bail out the Fed itself.

The investor fears that, eventually, it might have to be ordinary people.

“IS FED BROKE? Hidden in recent $2.2 Trillion Congress rescue bill was buried $425 Billion for Fed. Fed has been bailing out the world since 2008. Who bails out the Fed? Now we know. We are. Why are Fed and Treasury hiding this from us? Buy more gold silver & Bitcoin. SCREWED.”

In an earlier tweet, Kiyosaki said that the Fed could hardly go broke.

However, he added, it could lose the population’s trust.

In that case, Kiyosaki believes, the IMF will step in to support the fiat USD.

Robert Kiyosaki emphasized his skeptical attitude about the international monetary fiat system overall as well.

“FED CANNOT GO BROKE in theory. But people can lose confidence in Fed & US $. The $425 Billion US gave Fed secretly will expand to $4.25 Trillion of fake $ into economy for over $9 Trillion in fake Fed $. When confidence goes game over. IMF steps in. IMF stands for I M Fkd.”

Bitcoin Turned ‘Sell’ After A Key Technical Rejection Above $7K

Bitcoin was rejected above the $7,000 level and it declined heavily against the US Dollar. BTC price is currently trading in a bearish zone and it could continue to slide towards $6,400.

After forming a support base above the $6,700 level, bitcoin price started a fresh increase against the US Dollar.

BTC price climbed above the $6,900 and $7,000 levels, but it failed to gain bullish momentum.

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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:

IS FED BROKE? Hidden in recent $2.2 Trillion Congress rescue bill was buried $425 Billion for Fed. Fed has been bailing out the world since 2008. Who bails out the Fed? Now we know. We are. Why are Fed and Treasury hiding this from us? Buy more gold silver & Bitcoin. SCREWED.

— therealkiyosaki (@theRealKiyosaki) April 13, 2020

FED CANNOT GO BROKE in theory. But people can lose confidence in Fed & US $. The $425 Billion US gave Fed secretly will expand to $4.25 Trillion of fake $ into economy for over $9 Trillion in fake Fed $. When confidence goes game over. IMF steps in. IMF stands for I M Fkd.

— therealkiyosaki (@theRealKiyosaki) April 13, 2020

Bitcoin Turned ‘Sell’ After A Key Technical Rejection Above $7K

https://u.today/buy-more-bitcoin-btc-before-people-are-forced-to-bail-out-fed-rich-dad-poor-dad-author

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Bloomberg Intelligence senior commodity strategist Mike McGlone says he expects the big Bitcoin rally to continue in 2021.

In a new December outlook on BTC, McGlone says Bitcoin’s new line of resistance in 2021 will likely be at the $50,000 mark.

“Bitcoin will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance, implying about a $1 trillion market cap. The $10,000 mark has shifted to a critical support level after serving as the crypto’s resistance mark since 2017.”

The report says Bitcoin is “far from overheated,” noting its foundation of support may be greater than back in 2015 through 2017 due to increasing institutional investments and a drop in new supply due to this year’s halving.

“The year 2020 will likely be looked back upon as key to Bitcoin’s mainstream evolution, in our view. Strong inflows in regulated exchange-traded products, futures open interest, addresses used and allocations from corporate treasuries, and some billionaires, solidify the 2020 annual price of about $10,000 as foundation support…

Demand measures of Bitcoin and crypto assets appear to be gaining endurance for more of the same in 2021. From the Office of the Comptroller of the Currency (OCC) allowing banks to provide crypto-asset custody services to PayPal onboarding payments, clearing 2020’s volatility hurdle likely widens the path toward mainstream adoption.”

McGlone says the macro economy will also continue to serve as a headwind fueling both BTC and gold in the new year.

“The digital newcomer and old guard quasi-currencies stand to be primary beneficiaries of unparalleled quantitative easing, rising debt-to-GDP and an increasing focus on modern money theory.”

In other trending Bitcoin News today:

CEO of $7.4 Trillion Asset Manager BlackRock Says Bitcoin Could Evolve Into Global Market Asset

Larry Fink, CEO of the world’s largest money management firm, BlackRock, appears to be changing his once highly skeptical tune on Bitcoin and cryptocurrency.

Speaking to former Bank of England governor Mark Carney at the Council on Foreign Relations, Fink said BTC may be on a path toward evolving into a global asset.

“Bitcoin has caught the attention and the imagination of many people. Many people are fascinated by it. Many are excited about it. But it’s still untested, it’s still a pretty small market relative to other markets. We see these big, giant movements every day… it’s a thin market.

So, can it evolve into a global market? Possibly. Certainly by evidence of the imaginations of so many who want to learn about it or are interested in it, to me, is a very telling sign.”

Fink also says the advent of digital currencies could weaken the status of the US dollar as a reserve currency for non-Americans.

“Having a digital currency has a real impact on the US dollar because having a digital currency makes the need for the US dollar less relevant for international holders of dollar-based assets. Does it change the need for a dollar reserve currency if there was a true digital currency that was separated from dollar-based assets?”

In late November, BlackRock chief investment officer Rick Rieder also made a bullish case for Bitcoin, saying that the digital asset is here to stay and is well on its way to replacing gold as a primary store of value.

“Do I think it will take the place of gold to a large extent? Yeah, I do because it’s so much more functional than passing a bar of gold around.”

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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:

#bitcoin stock-to-flow cross asset model-if BTC doesn’t break it’s historical path-BTC market cap will approach gold market value $5-10T in 2021-2024-and approach real estate market value $10-100T in 2024-2028

-after 2028 we can no longer interpolate and enter uncharted waters pic.twitter.com/DGf6T87Tdf

— PlanB (@100trillionUSD) December 4, 2020

https://cointelegraph.com/news/bitcoin-whales-selling-to-institutions-as-grayscale-adds-7-188-btc-in-24-hours

https://cointelegraph.com/news/bitcoin-arrives-on-wall-street-s-p-dow-jones-launching-crypto-indexes-in-2021