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Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin.
At the 2017 peak, when the Bitcoin price was trading at around $20,000 in the U.S. spot market, Bitcoin was being traded in South Korea’s cryptocurrency exchange market for around 26,000,000 Korean won, equivalent to about $22,000.
This difference is now known as the Kimchi premium.
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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:
https://cointelegraph.com/news/bitcoin-price-which-countries-have-the-biggest-premiums
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To HODL Bitcoin is to love BTC. And love, being the primary experience which we were set upon this earth for, should be spread like pollen in the wind.
Retail investors have the ability to drive us to a $1 million Bitcoin price all the sooner through their efforts to show Bitcoin to others — or BTC will simply show itself.
In other trending Bitcoin News today: Ukraine Adopts Law ‘On Virtual Assets’ to Regulate Crypto Market!
The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses.
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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://bitcoinmagazine.com/culture/retail-investor-1-million-bitcoin-price
https://news.bitcoin.com/ukraine-adopts-law-on-virtual-assets-to-regulate-crypto-market/
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STOCK-TO-FLOW MODEL SHOWS 0K BITCOIN PRICE IN 2021!! BTC COULD SHATTER 4K BY 2024 SAYS PLANB!!
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At a $100,000 Bitcoin price, the BTC market cap will be worth as much as Apple.
Seems like that’s the least we can do in this halving cycle according to a popular Crypto analyst.
The Bitcoin stock-to-flow model predicts a $100,000 BTC price for the first time on August 16th, 2021.
PlanB says Bitcoin could eclipse the prediction of his controversial stock-to-flow model (S2F) and meteorically rise to $864,000 in four years.
In an interview with cryptocurrency podcaster Peter McCormack, the quantitative analyst says he actually made a conservative bet when he predicted that BTC will hit $288,000.
“I’m on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I don’t mean the time-series model. So we’re not looking at Bitcoin only. We’re looking at gold, silver, diamonds, real estate, all that stuff. It’s $288,000.
That’s an average value. It could overshoot, like three times, like it did the last phases. I don’t want to mention the number. I try to be conservative all the time. But let’s say a 2x or a 3x from that $288,000, and then it crashes again, of course.”
PlanB also highlights the significance of getting a publicly-listed company to purchase hundreds of millions of dollars worth of BTC as a hedge against inflation.
“I noticed a lot of people didn’t see the importance of what MicroStrategy did but because it’s a listed company, it means that people can put Bitcoin or well [get] Bitcoin exposure in their pension funds.
They could just call their broker and, they can’t say ‘Well, get me some Bitcoin in my pension fund.’ But they can say, ‘Get me these and these and these companies. I want to have those in my pension scheme.’ In that way, you could see MicroStrategy as an ETF.”
Meanwhile, the crypto analyst remains confident in his S2F model and stresses the fact that it is following the script so far.
PlanB also notes that the king crypto is starting to seriously pique the interest of big-money players.
“We now are seeing pull from clients, from people that go to Fidelity and all the big players and ask for Bitcoin in their pension fund.”
But, the widely-followed analyst emphasizes that the S2F model is not infallible.
“The model can fail. It’s a model right. It’s a theory. It’s more to describe something and it’s quantitative so that helps. But it is a model. It can fail. Bitcoin will not fail. I don’t believe that.”
As for the Bitcoin’s current correction, PlanB says that the pullback is meant to scare new investors.
“Small Bitcoin test to shake out weak hands that entered May-Aug. If you can’t handle this, get out now. If you can, welcome to the club! Things to watch –will this be the first dip that stays above $10,000 – will we see a fast V-shape recovery next days.”
In other trending Bitcoin News today:
Sushiswap Creator Returns $14 Million After Community Cries Exit Scam
One week after the Sushiswap creator was accused of an exit scam, he has returned all of the coins he cashed out.
The anonymous creator also apologizes to the community, including to Binance which came under fire for listing the sushi token.
The creator of Sushiswap, the anonymous Chef Nomi, has returned $14 million worth of ETH to the project’s developer fund.
Chef Nomi tweeted Friday:
I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of Sushiswap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish.
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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:
I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of SushiSwap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish.https://t.co/QwFj5SeeuQ
— Chef Nomi #SushiSwap (@NomiChef) September 11, 2020
https://news.bitcoin.com/sushiswap-returns-14-million-exit-scam/
https://cointelegraph.com/news/bullish-pennant-hints-at-bitcoin-price-breakout-to-11-300
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$6 BILLION NCR OPENS BITCOIN PURCHASES TO 650 BANKS IN 160 COUNTRIES!! $20K ETHEREUM PREDICTION!!
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BREAKING – A new deal between payments giant NCR and NYDIG will bring Bitcoin purchases to 650 U.S. banks and credit unions. NCR offers ATMs and kiosks in 160 countries.
650 U.S. banks will soon be able to offer bitcoin purchases to an estimated 24 million total customers. As part of the deal, between enterprise payments giant NCR and digital asset management firm NYDIG, community banks including North Carolina-based First Citizens Bank and credit unions including Bay Federal Credit Union in California will be able to offer their clients cryptocurrency trading through mobile applications built by the payments provider.
In other trending Crypto News today: Ethereum Could Surge Above $20,000 on Back of This Emerging Crypto Sector, According to Coin Bureau! The pseudonymous host of Coin Bureau thinks Ethereum has the potential to surge past $20,000 with the help of an emerging sector of the crypto markets.
In a new video, the popular analyst who goes by Guy says that decentralized finance (DeFi) and its ability to replicate the services of traditional finance without the drawbacks will be the catalyst that pushes Ethereum to the stratosphere.
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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.
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