BITCOIN PRICE RALLY IN 2017 CAUSED BY ONE WHALE?! | Stellar Lumens (XLM) Crypto Supply Manipulation?

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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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Crypto analyst PlanB says the Bitcoin price could eclipse the prediction of his controversial stock-to-flow model (S2F) and meteorically rise to a BTC price of $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 Bitcoin 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:

Max Keiser Reaffirms His $400K Bitcoin Price Prediction

In a recent interview with Cointelegrpah, Max Keiser, host of the Keiser Report reaffirms his Bitcoin $400K prediction while ETH, BSV, BCH, and DeFi scams go to Zero.

Max sees the Bitcoin price climbing to $28,000 in the short term before seeing any major pullback and goes on to share that his $100,000 Bitcoin price prediction he made back in 2011 is still currently in play.

He recently increased his $100,000 BTC price prediction to $400,000 because he’s completely confident in that Bitcoin will compete with gold.

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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 Falls 12% But a Reuters Poll Indicates Massive Rally Ahead

Bitcoin Could Shatter $864,000 by 2024, According to Crypto Analyst PlanB

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

Walmart, the world’s largest retailer, to start accepting Bitcoin and crypto payments soon?!

Here’s what we know: Walmart is hiring a “digital currency and cryptocurrency product lead.” The company says it “enables broad set of payment options for its customers” and is developing a “digital currency strategy and product roadmap.”

In the listing for the role, Walmart indicates it is looking for someone who has a track record in leading and scaling businesses, with at least 10 years of experience in product/program management and technology-based product commercialization. The ideal candidate would have expertise in cryptocurrencies and blockchain-related technologies and in-depth knowledge of the crypto ecosystem and its core actors.

In other trending Bitcoin News today: Majority of World’s Top Banks Are Investing in Crypto and Blockchain Companies

A new report from blockchain research firm Blockdata suggests that over half of the world’s biggest banks are getting exposure in crypto and blockchain companies.

The firm says that out of the 100 biggest banks by assets under management (AUM), 55 of them have investments in crypto or blockchain-related businesses, either directly or through subsidiaries.

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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://cointelegraph.com/news/walmart-seeks-crypto-product-lead-to-drive-digital-currency-strategy

https://news.bitcoin.com/wolf-of-all-streets-trader-bitcoin-100k-within-6-to-12-months/

https://cointelegraph.com/news/btc-eyes-50k-breakout-despite-most-greed-since-all-time-highs-5-things-to-watch-in-bitcoin-this-week