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John McAfee has just backpedaled on his $1 Million Bitcoin price prediction, one of the wildest wagers in the history of Cryptocurrency.
In his recent tweet, the cybersecurity tycoon makes it clear that his promise to eat his penis if the BTC price doesn’t go to $1 Million by Dec. 31, 2020, was simply a ‘ruse’ that was meant to attract new users.
John McAfee tweeted on Crypto Twitter:
“Eat my dick in 12 months? A ruse to onboard new users. It worked. Bitcoin was first. It’s an ancient technology. All know it. Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?”
In other Crypto news today, a number of analysts are still bullish on Bitcoin.
One analyst recently drew attention to a fractal, suggesting that should BTC follow it, the price of the cryptocurrency could top $10,000 by February.
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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:
Eat my dick in 12 months?A ruse to onboard new users. It worked.Bitcoin was first. It’s an ancient technology. All know it.Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future?
Was the Model T the future of the automobile?
— John McAfee (@officialmcafee) January 5, 2020
This Fractal Suggests Bitcoin Price Will Explode Past $10,000
https://bitcoinist.com/has-mcafee-drops-bitcoin/
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Bitcoin Price Analysis 10 Weeks After BTC Halving (2016 vs 2020) | Crypto Asset Skyrockets 10,000%
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Popular Crypto Analyst Josh Rager makes a comparison between the Bitcoin price 10 weeks after the BTC halving in 2016 versus 2020.
“BTC – 10 weeks after halving (2016 vs 2020)
2016 halving: led to over 3000% gains in about 525 days
2020 halving: just getting started”
Someone pointed out, “Totally different situation, Pandemic and global recession” in which Rosh Rage responded…
“Yes and notice I didn’t put BTC at 3000% gains… I put it at like 1/3 that. I know there is nothing sensational about it. Still expect it to move up to new highs. Don’t know if that is 25k or 50k – all we can do is trade it accordingly”
BITCOIN HAS ROOM TO RALLY, SAY ANALYSTS
BTC’s ongoing breakout has allowed it to deny a bearish market structure that was set to send the asset plummeting, said an analyst on Jul. 22.
He specifically made reference to how Bitcoin invalidated a potential descending triangle and diagonal resistance during its recent move higher.
“Multiple failed attempts to send price lower soaked up at daily demand & the monthly open for BTC. Yesterday’s 1D close posted a higher high breaking MS on the daily. Metals, equities, alts, all ripping higher… may be time for the best asset of the past decade to now.”
This analyst did not convey a price prediction in the abovementioned analysis.
But in previous analyses, the trader has noted that Bitcoin is primed to move above $10,000, then $11,000.
The optimism was echoed by another analyst, who suggested that Bitcoin’s ability to surmount $9,500 is positive.
Referencing the chart below, that analyst opined:
“BTC HTF Update: Looking good still, seems as though $9300 is holding as support but even if we pullback to around $9200 that’s fine and we should be looking good for another leg upwards. Really want to see if bulls have the power to break $9500 as this is where the party starts.”
In other trending Bitcoin News today:
Little-Known Crypto Asset Skyrockets 10,000% As Analysts Track Nascent DeFi Market
A little-known cryptocurrency is the latest to send shockwaves through the industry after rising over 10,000% just a few days after it launched.
The crypto analysis platform Santiment is tracking the performance of YFI, the governance token of decentralized finance (DeFi) protocol yearn.finance.
An analyst at Santiment explains that the token helps investors generate passive income by leveraging platforms that offer the best yields.
“In a nutshell, YFI is something that makes you money, good ton of money. It is the only thing right now in the DeFi market that gives you the highest yield…
How it does that is by taking whatever you deposit, and it actually goes around and searches all the other platforms, whatever protocols are out there, and finds the best yields in the area and then deposits over there, ensuring that you get the best yields. Think of it as an automated yield aggregator.”
While its creator Andre Cronje insists that YFI has no financial value, the market begs to differ.
The native token of yearn.finance traded at $31.65 on July 18th before exploding to an all-time high of $3,458.31 on July 25th – a meteoric rise of 10,828.6% according to CoinGecko.
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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:
Totally different situation
Pandemic and global recession— Crypto Damus (@AstroCryptoGuru) July 23, 2020
Why One Prominent Chess Grandmaster is Bullish on Bitcoin Adoption
Bitcoin’s Latest Surge Higher Is Extremely Positive: Factors to Consider
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CNBC Analyst Says Massive ,000 Bitcoin (BTC) Bull Run Officially Underway! | Ethereum Skyrockets!
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CNBC’s Brian Kelly says he believes Bitcoin is ready to once again surprise the naysayers and begin a blistering parabolic bull run.
In a new interview on Fast Money, Kelly points to the recent BTC halving, which cut the rate of new supply entering the market in half, as a prime reason Bitcoin is set to outperform gold amid the shaky global economy.
“For me, it’s going to be Bitcoin. You might say I’m biased because I run a crypto fund, but that’s not it. I also trade macro, which means I have a whole bunch of different things I can invest in: currencies, stock, bonds, precious metals. And when I look at precious metals versus Bitcoin, Bitcoin has better fundamentals.
And with fundamentals, I’m talking about the stock-to-flow ratio. It’s better than gold at this point because we had the halving, and when I look at the Bitcoin cycles, the bull markets tend to cluster around the halvings.”
Kelly says he thinks Bitcoin is on track to return to its all-time high of $20,000 within six months, with $50,000 coming next year.
In the same time frame, he doubts gold will double in value.
“So we’re tracking right along the 2016 halving cycle and that would imply that sometime in Q2 2021, you’re looking at a Bitcoin price of $50,000. So that’s kind of the long-term target. And in the shorter term, $10,500 was a really big number.
We’re breaking out of a two-year range. It would not surprise me, this is just pure trading 101, once you break out of a range, [an asset] goes to prior highs. That’s $20,000. To me, I think that’s three to six months down the road. So Bitcoin looks like it could go two to five times higher.”
When pressed on why he’s overly bullish, with many sky-high Bitcoin predictions failing to materialize in the past, Kelly said he believes his forecast fits right in with Bitcoin’s prior price history.
“What we know about Bitcoin is it’s extremely volatile. It’s highly speculative, and when it goes on these speculative runs, it goes a lot further than people expect.
So I don’t think saying $20,000 is that outrageous when it’s already been there. You might question me on the $50,000, but that’s a year from now.”
In other trending Bitcoin News today:
Ethereum Rockets 50% in 5-Year Anniversary Month: What’s Behind the ETH Rally?
The Ethereum price has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase.
It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol.
There appear to be two key factors fueling the rally of ETH.
First, the anticipation of the market towards ETH 2.0 has been continuously building.
Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum.
In mid-June, DeFi platform Compound essentially kickstarted the phenomenon called “yield farming.”
Ethereum users would flock to DeFi platforms providing the highest incentives, trying to obtain the highest yield possible.
Since then, several major DeFi platforms have emerged. According to Defipulse.com, Aave, Balancer, and Curve Finance have $482 million, $291 million, and $263 million locked in, respectively.
Consequently, the total value locked in the DeFi space has increased to $3.94 billion.
It is up by more than three-fold since the beginning of June.
The upward trajectory of the DeFi market could positively affect Ethereum for various reasons.
The most prominent factor is its usage as gas.
When users clog the Ethereum blockchain with many transactions, ETH is needed to pay transaction fees or “gas.”
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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:
$COMP appears to be in a great position for a potential turnaround, according to the real-time metrics we’re seeing on Sanbase PRO. Track the chart to see the bullish developments for:1. DAA2. Network growth3. Transaction volume
4. Social volumehttps://t.co/4EleYExoKL pic.twitter.com/ZXWesq0hNQ
— Santiment (@santimentfeed) July 30, 2020
https://cointelegraph.com/news/ether-rockets-50-in-5-year-anniversary-month-whats-behind-the-rally
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,000 BITCOIN EXTENDED TARGET TRIGGERED!! YEAR-END GOLD AND BTC PRICE PREDICTIONS!!
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Crypto analyst spotted this strong Bitcoin bullish harmonic structure in an advanced form.
The pattern is pointing towards a $32,000 BTC price as the next bull run target.
Yesterday, Bitcoin price reclaimed its critical $12,000 resistance before suddenly dropping by $500 in seconds to fill futures gap.
A bounce off $11,500 saves investors from serious pain but $12,000 remains a problematic level to flip to support.
Data from Cointelegraph Markets and Coin360 showed BTC/USD nosedive 4% during Monday trading, bouncing off $11,500 and since returning to $11,700.
In doing so, Bitcoin neatly filled the latest gap in CME Group’s Bitcoin futures markets, which lay just below $11,700.
A classic move, Cointelegraph predicted on the day that markets would likely attempt to go lower on short timeframes to fill the gap, in line with standard behavior.
The event caused a dramatic spike in liquidations on derivatives giant BitMEX, data from monitoring resource Skew confirms.
For Cointelegraph Markets analyst Michaël van de Poppe, the sudden dip suggested that Bitcoin was returning to the pattern of behavior seen in recent months.
“Smaller timeframe chart explaining what just happened. Essentially, we’re back into the ranging gameplan,” he told Twitter followers.
“Ranging” within a certain price corridor has become a feature of BTC/USD in 2020, with recent gains upending a protracted period, which slowly narrowed to point — a process known as compression.
Going forward, lower levels could see a retest, with significant support just above $10,000 still apt to form the price floor, Van de Poppe thinks.
“Larger timeframe; still expecting such a scenario,” he continued.
“If we break $12K however, I assume we’ll see $13k.”
Attention will thus now focus on bulls’ ability to cement $12,000 as a support zone, something which has yet to occur on any meaningful level for Bitcoin.
Nonetheless, the latest weekly close marked the highest since January 2018 and the initial fall from Bitcoin’s all-time highs of $20,000.
In other trending Bitcoin News today:
‘Capital Flight out of Asia Is Taking Bitcoin Express’ Says Max Keiser
Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes.
Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that rising tensions in Asia are one of factors for Bitcoin’s rally up to $12,000.
In an Aug. 10 tweet, Keiser argued that Bitcoin is a solid method to move big amounts of money abroad while crossing borders.
According to Keiser, a number of people in Asia are using Bitcoin to move their money out of the continent as geopolitical tensions risk affecting markets.
“Capital flight out of Asia taking the Bitcoin express,” Keiser wrote. Comparing Bitcoin to gold — one of the world’s most popular safe-haven assets, Keiser argued that Bitcoin is one of the few ways to move a fortune abroad. Keiser said, “You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you. (Something near impossible with gold).”
The news comes amid reports of Chinese citizens illegally crossing into the United States with $28,000 worth of gold bars.
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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 up as tensions rise in Asia
Capital flight out of Asia taking the #Bitcoin express
You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you
(Something near impossible with Gold)
— Max Keiser (@maxkeiser) August 10, 2020
$BTC #BITCOINSmaller timeframe chart explaining what just happened. Essentially, we’re back in to the ranging gameplan.
Larger timeframe; still expecting such a scenario. If we break $12K however, I assume we’ll see $13k. pic.twitter.com/vjnJzJfVzC
— Crypto Michaël (@CryptoMichNL) August 10, 2020
https://www.tradingview.com/chart/XBTUSD/CtL1HlXn-Bitcoin-to-32k/
https://news.bitcoin.com/year-end-gold-and-bitcoin-price-predictions-from-regular-everyday-people/
https://cointelegraph.com/news/bitcoin-price-suddenly-drops-by-500-in-seconds-to-fill-futures-gap
https://cointelegraph.com/news/capital-flight-out-of-asia-is-taking-bitcoin-express-says-max-keiser
Post Views: 149