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While a $10 million Bitcoin price might seem hyper-bullish, there is real reason to believe such an ascension in BTC price could occur. Bitcoin will experience three halvings this decade, the first in 2020, the second in 2024 and the third in 2028. Counting the 2020 halving that already occurred last year, Bitcoin has experienced a total of 3 halvings since its launch in 2009. Historically, in the year following each halving, the bitcoin price shoots up exponentially due to an increase in demand and decrease in supply in the market.
In other trending Bitcoin News today: President Bukele Teases El Salvadorâs Volcano-Powered Bitcoin Mining Preview! El Salvadorâs President, Nayib Bukele, used Twitter to give an early peak at the planned Bitcoin mining setup, which would be powered by volcanoes. Earlier this month, Salvador became the first country in the world to recognize Bitcoin as legal money. The countryâs congress passed the Bitcoin bill with an overwhelming yes vote. The President also announced ambitions to turn small island nations into a hotspot for environmentally friendly Bitcoin mining.
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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/bitcoin-10-million-price
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MAX KEISER SAYS BITCOIN SUPERCYCLE IS JUST BEGINNING AND WILL SUPER CHARGE BTC TO THE STRATOSPHERE!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Bitcoin dumped 17% in the past 24 hours liquidating $5.64 billion in extended BTC losses, however, Wall Street veteran and host of the Keiser Report, Max Keiser remains optimistically bullish sharing the following on Crypto twitter:
âBitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart). Â
We are now heading into a crushing inflationary period that will super charge BTCâs price to the stratosphere.
Incredibly bullish for Bitcoin. The BTC super cycle is just beginning!â
The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board.
Liquidations occur when leveraged futures positions fall to a certain threshold. For example, a position using 10x leverage would get liquidated or turn worthless if the price of BTC drops by 5%.
What triggered the mass Bitcoin liquidation fest?
If the Bitcoin futures market is highly overleveraged and overcrowded, a minor price movement can trigger mass liquidations.
According to analysts at Santiment, a data analytics firm, an address was responsible for the second-largest Bitcoin transaction of the year, as Cointelegraph reported.
More than 2,700 BTC were transferred right before the drop, which were bigger than the 2,000 BTC inflow seen before the March 2020 crash when Bitcoin dropped below $4,000. The analysts said:
âAs we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoinâs price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet before a quick sell-off. This same address also made a 2,000 $BTC import last March right as the Black Thursday correction took place. In total, itâs made 73 transactions in its one-year existence, for a total of 91,935 $BTC imported, with all tokens moving away within minutes after arrival.â
It is a possibility that a major sell-off in the spot market triggered the futures market to see intense selling pressure from many long positions getting liquidated.
When Bitcoin initially began to correct on Feb. 22, the futures funding rate of the dominant cryptocurrency was hovering at around 0.15% even as it continued to drop.
In other trending Bitcoin News today:
North American Bitcoin ETF Erupts, Analyst Says It Could Soon Shatter $1 Billion in Assets Under Management
A Bloomberg Intelligence analyst is estimating that the first North American Bitcoin exchange-traded fund (ETF) is on track to reach $1 billion in assets under management (AUM) in the coming days.
In a new tweet, Bloomberg Intelligenceâs senior ETF analyst Eric Balchunas predicts that the Purpose Bitcoin ETF, which trades under the BTCC ticker on the Toronto Stock Exchange (TSX), could soon hold more than double its current AUM.
âCanada Bitcoin ETF BTCC traded $350m (CAD+USD) today, a 40% jump from yesterday (defying typical Day Two drop-off) and 3x more than any other ETF (unreal). Proportionally speaking, this is equivalent to about $5 billion in volume in the US (or about 7x more than GBTC). Two-day AUM is estimated at $330m.
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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:
Sec Treasury Janet Yellen states: âBitcoin is extremely inefficient.â Give me a break. Does she think printing trillions of fake dollars is efficient? Does she not know the more fake dollars she prints the more efficient and valuable Bitcoin becomes? God bless her.
â therealkiyosaki (@theRealKiyosaki) February 22, 2021
#Bitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart).
We are now heading into a crushing inflationary period that will super charge BTCâs price to the stratosphere. pic.twitter.com/4FyO1xAz7D
â Max Keiser (@maxkeiser) February 23, 2021
As we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoin‘s price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet pic.twitter.com/CTgtJr27np
â Santiment (@santimentfeed) February 23, 2021
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Bitcoin Halving, Stocks, Fundamentals: 3 Things to Watch in BTC This Week | Bitcoin News Today
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With the infamous Bitcoin Halving now less than 8 days away, BTC is approaching the most eagerly anticipated moment in its history, and markets are feeding the excitement after weeks of gains.
Bitcoin is just days away from a historic crossroads this week â what will the coming days have in store for traders and hodlers?
Letâs take a look at the major factors influencing the Cryptocurrency market just over a week before Bitcoinâs third block reward halving.
This immediate 50% drop in supply should have considerable knock-on effects for demand, especially taken against the historical precedent of the previous two halvings.
The impact is neatly summarized by Bitcoinâs stock-to-flow price model, which suggests that major price movements should come 1-2 years after the halving.
Bitcoin continues to exhibit some copycat price behavior which tracks movements on major stock markets.Â
As of Sunday, futures for the S&P 500 and Dow Jones among others were tanking 3%, which soon translated into a fresh price dip for BTC/USD.
At press time, the pair traded at around $8,700, down 3.7% on the day, having bounced off support at $8,500.Â
Coronavirus continues to weigh on sentiment, as the United States and China spar over the pandemicâs origins and handling, sparking trade fears.
Bitcoinâs network fundamentals remain on an upward trajectory despite mixed price action.
Hash rate and difficulty are hovering near all-time highs.
The difficulty is set to increase by a modest 1.4% on May 5 and will be the last such increase before the halving seven days later.
The two aspects of Bitcoin go hand in hand for analysts, as Bitcoinâs automatic difficulty adjustment mechanism prevents manipulation of supply rate, regardless of how much BTC is worth in fiat terms.
In other trending Bitcoin News today:
Same Trend That Marked Start of Bitcoinâs $10,000 Run In 2019 Is Back
After a nearly 20% surge last week, Bitcoinâs weekly candle on Sunday evening closed decisively green at $8,900.
This marked the seventh consecutive weekly gain for BTC, which has posted stellar performances ever since the mid-March capitulation lows.
Although the seven consecutive weeks may mean nothing to readers, it is a strong technical occurrence that may signal that even more upside is on the table for the months ahead.
Zack Voell, a market analyst at CoinDesk, recently noted that Bitcoin closing its seventh consecutive weekly gain hasnât happened since April 2019, when the last bear market ended.
This would suggest that should history repeat itself, the cryptocurrency is on the verge of yet another bull run.
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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:
$BTC-Mex funding+premium index still negative-Above the yearly vwap -Above the 200 DMA -Bullish 1D cloud-Halving in 10 days
You might not call and short THE top but youâll save yourself a lot of potential headaches by just waiting for a break in 1D market structure.
â HornHairs đ (@CryptoHornHairs) May 2, 2020
Same Trend That Marked Start of Bitcoinâs $10,000 Run In 2019 Is Back
https://cointelegraph.com/news/halving-stocks-fundamentals-3-things-to-watch-in-bitcoin-this-week
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BITCOIN PRICE TO âTRADE AGAIN AT K SOONâ | XRP Price Will Fall All The Way to $.03?!
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http://trade.cryptonewsalerts.netIt is looking increasingly likely that the recent Bitcoin price dip to lows of $6,500 will mark a long-term bottom for the cryptocurrency, as its bulls have been able to propel its price higher and sustain their momentum, with the Bitcoin (BTC) price now targeting a movement to $8,000.
Analysts are now noting that Bitcoin is clearly shifting its recent downtrend in favor of its bulls, which may mean that significantly further upside is imminent for the cryptocurrency.
Alex KrĂŒger, a popular economist who focuses primarily on cryptocurrencies, explained in a recent tweet that he believes Bitcoin is currently expressing signs of showing a clear long-term bottom. âMy current $BTC roadmap. Should be obvious why I believed $8000 âwill trade again soonâ, itâs where downtrend accelerated. The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive. Nothing to chase if not long IMHO,â he explained while pointing to a couple charts seen in the below tweet.
In other Crypto news todayâŠ
Accurate trader calls for a $1,000 Bitcoin and destruction of Crypto industry.
Whatever the case may be, one crypto analyst who has made a string of accurate calls in the past, is now saying that Bitcoin will go âto the $1,000 range.â
The analyst explains that this would be âgood for cryptoâ as it would âdestroy investors and projects,â claiming thatâs exactly what the space needs. He also tweeted the following regarding the Ripple XRP price, âWhile I love XRP (and I do believe that it is superior to all other cryptocurrencies) if BTC falls to the 1000 range as Iâm currently anticipating, I think XRP could simultaneously fall to 0.03. I hate to report that, but thatâs what the charts suggest, if BTC falls to 1000.â
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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:
Some ways to determine an asset is in a bull market:â· Percent from bottom before equivalent drop from top, e.g. 20% for stocks, say 50% for bitcoin.â· Moving averages, e.g. price>200DMA, 50DMA>200DMA.â· Price relative to key levels, e.g. above X.
â· Rise over X time.
â Alex KrĂŒger (@krugermacro) July 27, 2019
My current $BTC roadmap. Should be obvious why I believed $8000 “will trade again soon”, it’s where downtrend accelerated.The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive.
Nothing to chase if not long IMHO. pic.twitter.com/uPzJpKqd6f
â Alex KrĂŒger (@krugermacro) November 29, 2019
$BTC gameplanNo need to overthink it, if we break $7.4k I’ll be looking for longs.
Really hope we find the strength to do so, not necessarily for the increase in price, but to get the chance to play such clean levels again. pic.twitter.com/3Tkpo5mbNi
â HornHairs đ (@CryptoHornHairs) November 27, 2019
Accurate Trader Calls For $1K Bitcoin and Destruction of Crypto Industry
Bitcoin is a Clear Long After Forming Textbook Bottom, Claims Analyst
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