BITCOIN SURGES AS PAYPAL LAUNCHES CRYPTO PAYMENTS AT 29M MERCHANTS!! $1T SET TO FLOW INTO CRYPTO!!

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts​

Anthony Scaramucci, the former White House communications director and founder of investment firm SkyBridge Capital, has said Bitcoin could ‘easily’ hit $100,000 within the next 12 months as more companies and money managers are adopting it.

In an interview with Yahoo Finance on Wednesday, Scaramucci said he would advise investors to move the money that they do not need in the short-term to BTC. Bitcoin, he said, has a very big future.

Scaramucci has previously been critical of Bitcoin but has since become a believer. Last month, SkyBridge launched its Bitcoin Fund L.P with a $25 million capital. The fund’s minimum subscription size is $50,000 and it is about to cross $100 million in assets under management (AUM), the founder told Yahoo. The firm started investing in Bitcoin late last year. SkyBridge now has under $500 million worth of Bitcoin across all of its investments.

Scaramucci said money managers will soon be “benchmarked off of Bitcoin” and that a few percentage points of this will be related to digital currency. “So if you’re not going to be an investor in Bitcoin you’re effectively short Bitcoin,” he added, noting that the dominant cryptocurrency actually lifted his fund’s performance that took a hit at the beginning of the coronavirus pandemic.

“The SkyBridge Series G fund is up 33% since April 1, and some of that frankly has been the move in Bitcoin that we took advantage of in the fourth quarter of last year,” Scaramucci told Yahoo.

For him, Bitcoin is simply just going to work. In a previous interview, he said the GameStop fiasco is proof that Bitcoin is going to work. “How are you going to beat the decentralized crowd? That to me is more affirmation about decentralized finance,” he added.

In other breaking Bitcoin News today:

Jack Dorsey and Jay-Z to set up 500 BTC blind Bitcoin trust in India, Africa

Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin (BTC) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in India and Africa.

Dorsey revealed the creation of the trust on Feb. 12 while sending out a call for three board members to oversee the blind trust initially.

Dubbed the ₿Trust, the application form for board members reveals the mission statement, “Make Bitcoin the internet’s currency.”

The Twitter CEO’s tweet appeared just hours after news broke concerning India’s alleged plans to completely ban the use of cryptocurrencies within its borders. The world’s second-most populated country could soon move to ban all crypto-assets, giving users a 3–6 month grace period to liquidate their holdings, according to an anonymous source who spoke to Bloomberg.

On Feb. 10, Jack Dorsey donated $1 million to the Washington D.C-based nonprofit organization Coin Center which also received a $2 million donation from asset management firm Grayscale. Dorsey’s ongoing infatuation with Bitcoin recently saw him set up a Bitcoin full-node from his Macbook, meaning he now has a hand in verifying the Bitcoin blockchain.

In other trending Crypto news today:

BITCOIN SETS NEW HIGHS AS ALL EYES WATCH REACTION TO $50,000 RESISTANCE

Bitcoin and the entire crypto market have been caught within a strong uptrend throughout the past few days and weeks, with sellers unable to gain any profound control over the aggregated market.

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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:

JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe

— jack (@jack) February 12, 2021

#Bitcoin is also front-running the Fed Because it’s better than Gold and its market cap is still small compared to Gold, stocks, bonds, property It has the most upside >> Because it’s perfect

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

Major United States-based crypto exchange Kraken has released a report predicting that the Bitcoin (BTC) price will rally by between 50% and 200% in the coming months.

The report notes that Bitcoin posted a 21-month low for volatility on July 24 of just 23%, and stated that BTC’s 12 historic volatility lows (of between 15% and 30%) have typically been followed by a rally of 140% on average.

With August usually the third-most volatile month for BTC price fluctuations, Kraken is predicting that upward momentum produced by Bitcoin at the end of July will continue for several months to come.

Kraken emphasized that Bitcoin’s recent rally resulted in the second-strongest July for BTC price performance since 2011, noting that July was usually the third-weakest calendar month for Bitcoin.

Bitcoin’s 14.5% jump between July 27 to July 31 drove the month’s overall performance to a 24% gain, positioning the market for continued momentum, according to Kraken. Prior to the move, July produced what the report describes as a “suppressed pocket” of weak volatility.

Ten of the 12 past instances of Bitcoin entering a suppressed pocket have been followed by gains exceeding 196%.

Kraken estimates that 44% of July’s total trade volume transpired during the final seven days of the month.

The report also notes that Bitcoin’s rolling 30-day correlation with gold jumped to a one-year high of 0.93 on July 31.

The spike comes after the monthly correlation fell to a 10-month low of -0.66 on July 2, contradicting predictions that gold and Bitcoin would emerge as popular “safe-haven” assets and move in-step throughout the COVID-19 pandemic and recession.

In other trending Bitcoin News today:

Analyst: Chainlink Targeting $32 by End of 2020 Amid Booming DeFi Market

ChainLink’s (LINK) raging bull market may have more upside potential, according to one alternative investment analyst.

Timothy Peterson, a chartered financial analysts, says LINK, which is now the sixth-largest cryptocurrency after posting gains of over 500% in a year, appears ready to continue its parabolic rally and move higher by the end of 2020. 

“Did some quick analysis of Chainlink‘s network growth rate and historical deviations in price put LINK at $32 by end of year.”

At that price, however, Peterson stresses that LINK would have difficulty sustaining it’s bullish momentum.

“Investors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.”

ChainLink is a decentralized oracle network that connects real-world data such as interest rates and exchange rates to smart contracts on the blockchain.

The boom in the decentralized finance (DeFi) over the last few months has helped fuel the growth of parallel projects like ChainLink.

Michael Anderson, the co-founder of Framework Ventures, tells Forbes that the importance of oracle networks has become more apparent now that billions of dollars are locked up in DeFi products that rely on smart contracts.

“We believe the value of LINK will track the value of the smart contract platform it is securing, meaning the long term market cap of LINK will eventually be larger than Ethereum’s current market cap today.”

DeFi Pulse shows that from early June, the total value locked in DeFi protocols grew from a little over $1 billion to almost $5 billion.

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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:

6/ The move above $11K is also significant because it:

+ Breaks #BTC out of its 2.5-year “pennant” formation (what many believe to signal the next bull market cycle)

+ Makes a higher-high in the macro trend

+ Enters territory #Bitcoin has only occupied for 2.5% of its lifetime pic.twitter.com/j3Bw5EzSg9

— Kraken Exchange (@krakenfx) August 11, 2020

Did some quick analysis of #chainlink‘s network growth rate and historical deviations in price put $LINK at $32 by end of year, but that price would not be sustainable. Investors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.

— Timothy Peterson (@nsquaredcrypto) August 9, 2020

Chainlink (LINK) Soars 30% To New ATH, Dethrones Bitcoin Cash Spot

Analyst: Chainlink Targeting $32 by End of 2020 Amid Booming DeFi Market

https://www.coindesk.com/coinbase-to-offer-bitcoin-backed-loans-to-us-customers

https://cointelegraph.com/news/boom-kraken-predicts-imminent-bitcoin-price-rally-of-up-to-200

https://kraken.docsend.com/view/grpqdjb9c3h59i87

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“Just to be clear, the risk of buying Bitcoin today HAS NEVER BEEN LOWER and the upside is still huge, like 80x. This is why institutions are pouring in now. The risk has never been lower”, says BTC pioneer Max Keiser, host of the Keiser Report.

As Bitcoin Tina tweeted: “If you don’t understand how fast Bitcoin can be repriced you don’t understand how markets work. TSLA went from the 150 range to the 450 range from the end of May to the middle of September. Bitcoin could reprice from 20K range to 75K range between now and February.”

Max Keiser responded with: “This is true. In fact, I expect it. The risk reward ratio for Bitcoin right now is; you’re risking 1 to make 100. The risk/reward has actually NEVER BEEN BETTER.”

In other trending Bitcoin News today:

Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC

An SEC filing on Friday indicates that the next Wall Street institution to take a public position in Bitcoin may also be among the largest yet: the $275 billion financial services firm Guggenheim Partners. 

The Guggenheim filing allows the Macro Opportunities fund to purchase GBTC, a publicly-traded Bitcoin investment vehicle from Grayscale, at an indeterminate point in the future. 

“The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”),” the filing reads.

According to independent ratings firm Morningstar, the Guggenheim Macro Opportunities fund currently has $5.3 billion in assets under management and sports a four-star rating “based on risk-adjusted returns out of 270 Nontraditional Bond funds.”

Guggenheim describes the overall fund strategy for the institutional-grade shares (ticker: GIOIX) as a product of the investment team’s “highest-conviction ideas.” If the fund were to take the full 10% stake in GBTC, it would be worth north of $500 million.

The filing also notes a long list of potential investor risks associated with cryptocurrencies, which it refers to as “digital assets designed to act as a medium of exchange.” 

Risks include lack of cryptocurrency exchange regulation, GBTC’s historical “significant premium” to net asset value, and uncertainty regarding tax laws and regulations, among others.

This preparatory move by Guggenheim appears to be part of a cascading series of investments indicating increased acceptance of Bitcoin among major financial institutions. 

In August, business intelligence firm Microstrategy purchased nearly 40,000 Bitcoin, leading to a parabolic move in share price. Likewise, financial services firm Square, Inc bought $50 million in Bitcoin in October.

This rolling snowball of institution interest may quickly become an avalanche, as noted by one prominent voice in crypto journalism: 

“2016: The institutions are coming! 2017: The institutions are coming! 2018: The institutions are coming! 2019: The institutions are coming! 2020: The institutions are here! 2021: Dammit, the institutions bought all the Bitcoin”

In other trending Crypto News today:

Weekend Bull Trap? Traders Remain Cautious As Bitcoin Price Rebounds to $18K

The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.

Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.

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

Ledger: ► http://ledger.cryptonewsalerts.net

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:

2016: The institutions are coming!2017: The institutions are coming!2018: The institutions are coming!2019: The institutions are coming!2020: The institutions are here!

2021: Dammit, the institutions bought all the #Bitcoin

— Jon Rice (@JonRiceCrypto) October 17, 2020

Just to be clear, the risk of buying #Bitcoin today HAS NEVER BEEN LOWER and the upside is still huge, like 80x

This is why institutions are pouring in now. The risk has never been lower. https://t.co/LlPemmn4Zk

— Max Keiser (@maxkeiser) November 29, 2020

If you don’t understand how fast #bitcoin can be repriced you don’t understand how markets work. TSLA went from the 150 range to the 450 range from the end of May to the middle of September.#bitcoin could reprice from 20K range to 75K range between now and February. pic.twitter.com/kMABvU0AsJ

— BitcoinTina☣️- “TINA” #bitcoin (@BitcoinTina) November 28, 2020

https://cointelegraph.com/news/weekend-bull-trap-traders-remain-cautious-as-bitcoin-price-rebounds-to-18k

https://cointelegraph.com/news/guggenheim-partners-prepares-to-dip-investment-fund-s-toes-into-bitcoin

https://cointelegraph.com/news/paul-tudor-jones-bitcoin-fractal-hints-at-possible-explosive-btc-rally