I’M PUTTING MY BILLION IN BITCOIN, SAYS RICARDO SALINAS!! JOHN MCAFEE FOUND DEAD AT AGE 75!!

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The crypto analyst who accurately predicted last years Bitcoin retracement has updated his roadmap of the BTC ascent to $100,000 as the king cryptocurrency approaches the apex of a long-term triangle.

Trader Dave the Wave tells his 33,000 Twitter followers that Bitcoin is poised for a big move as the top cryptocurrency shows signs of compression.

“Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do. Shaping up nicely for the move going forward.”

Based on Dave’s chart, Bitcoin is losing steam as seen on the slumping logarithmic moving average convergence and divergence (LMACD).

The indicator is designed to reveal changes in an asset’s trend, strength and momentum.

In addition, the king coin’s volatility looks ready to hit its all-time lows as the Bollinger bands width (BBW) indicator approaches a value of 0.50.

The low BBW reading suggests that BTC’s trading range is at its narrowest point in four years. Bitcoin’s tightening trading range and dying momentum suggest that a violent move is on the horizon as the dominant cryptocurrency approaches the end of a multi-year triangle.

Dave says that once volatility returns, he expects Bitcoin to go through a significant correction.

Once the pullback is over, Dave sees Bitcoin eventually breaking out of the long-term triangle.

He says Bitcoin will recover its all-time high of $20,000 next year before igniting a manic phase that would send the top cryptocurrency above $100,000 before 2022 expires.

In other trending Bitcoin News today:

BITCOIN TO SOON CONFIRM BUY SIGNAL THAT PRECEDED 2017’S 2,000% RALLY

According to a crypto analyst, Bitcoin’s macro Moving Average Convergence Divergence (MACD) is about to cross green on the monthly time frame.

Should this take place, it will mark a large win for the bull case. For instance, prior to the rally from under $1,000 to $20,000 in late-2016/2017, BTC formed this signal.

And prior to the rally to $14,000 in 2019, this signal was formed.

The potential cross in the MACD isn’t the only signal that is supporting the long-term bull case.

This past Sunday, digital asset manager Charles Edwards noted that his indicator, the Hash Ribbons, printed a “buy” signal:

“Bitcoin Hash Ribbons “Buy” signal just confirmed. The post-Halving signal is particularly special.  It will probably be a very long time until the next occurs. …and so the great bull run begins.”

This is important as the signal has preceded parabolic rallies in the price of BTC.

Edwards found in an analysis published last year that the gain-to-peak of the indicator’s “buy” signals comes out to an average of 5,520%.

The fundamentals are equally as bullish, analysts have said.

As reported by Bitcoinist previously, Nexo’s Antoni Trenchev argued that Bitcoin is still poised to hit $50,000 by the end of 2020.

He attributed this strong sentiment to the presence of money printing by central banks and the block reward halving:

“So yes, I’m sticking to my prediction of 50K until the end of the year. I appreciate that it is a bold statement, but the fundamentals are there and the momentum is shifting there as well,”

Trenchev concluded to the Bloomberg journalist.

This optimism has been echoed by Adam Back, the chief executive of Blockstream.

The long-time industry executive and programmer told Bloomberg in a July interview that BTC will hit $300,000 in the next five years.

Like Trenchev, Back also mentioned money printing, but added that bonds and real estate likely have low risk-return ratios.

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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:

Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do.

Shaping up nicely for the move going forward pic.twitter.com/prrdi576XD

— dave the wave (@davthewave) July 15, 2020

https://bitcoinist.com/bitcoin-confirm-buy-signal-preceded-2017/

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There is nothing stopping Bitcoin from attempting to become a six-figure asset, the Magnetic managing director William E. Quigley professed in an interview with CNN Business.

The New York-based senior executive listed a string of reasons behind his bullishness on Bitcoin, the world’s leading decentralized cryptocurrency whose rates surged from as low as $3,858 just shy of $58,500 in the previous 12 months. 

They included Bitcoin’s scarcity and growing demand among mainstream corporate houses that look for alternative store-of-value assets for their balance sheets.

A pre-embedded algorithm within the Bitcoin blockchain’s source code reduces its supply rate by half every four years or after every 210,000 block—an event known as “halving.” Meanwhile, there can only be 21 million BTC tokens in existence, making the cryptocurrency scarce, making it more valuable in the long-term if the demand for it rises.

Bitcoin has had three halvings in the past. The November 2012 and June 2016 supply cuts saw the BTC/USD rates jumping from about $12 to nearly $1,150 and $650 to almost $20,000.

Meanwhile, the third halving—that took place in May 2020—has followed up with up to 558 percent rise so far. It prompted Mr. Quigley to see a bullish fractal.

“We are about halfway through the post-halving bull run,” the executive noted. “So, by my judgment, we have a lot more to go with Bitcoin. Certainly a hundred thousand and quite possible a $150,000 by the end of this year to maybe Q1 next year.”

BITCOIN DEMAND GROWS

That explains why even corporates have started embracing the flagship cryptocurrency as an alternative to cash. Tesla, the world’s leading electric carmaker, revealed in February that it added $1.5 billion worth of bitcoin in its balance sheet, noting that it would also start accepting the cryptocurrency for its services and products.

MasterCard, a credit card giant, announced that it would integrate crypto tools into its services in the same month. Bank of New York Mellon, the US’s first banking firm, joined the ranks by announcing that it would offer bitcoin custodianship via the same platform that its clients use for traditional securities and cash.

“The latest survey I saw showed that 5 percent of the public-traded companies in the US would consider adding Bitcoin to their balance sheets,” said Mr. Quigley. “And the reason they are thinking that is that corporates have trillions of dollars in cash—and where do they put it? There are government bonds but $17 trillion of them yield negative returns.”

In other trending Bitcoin News today:

Experts Divided on BTC Predictions: Bullish or Super Bullish?

Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.

On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.

“Grayscale Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is.”

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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:

Today is the two year anniversary of my #Bitcoin Halving Reward Era Price analysis chart.It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin.

I still trust it.$BTC will hit $200K+ this cycle. pic.twitter.com/jwUcOpHeXC

— K A L E O (@CryptoKaleo) February 13, 2021

Bitcoin is more likely to hit $1,000,000 than $0.

— Dan Held (@danheld) March 4, 2021

https://bitcoinist.com/top-new-york-executive-sees-bitcoin-price-at-150000-by-q1-2022/

https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish

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Bitcoin price topped $10,000 in February before dropping below $4,000 last month as investors and the financial markets reacted to the coronavirus pandemic.

Despite the plunge and ongoing macro economic turmoil, billionaire investor Tim Draper remains bullish on the BTC price.

In an interview with Chinese news outlet Bitpush, Draper, who runs venture capital firm Draper Fisher Jurvetson, warns that prolonged isolation due to widespread lockdowns threatens to aggravate the disease-induced financial crisis.

He also shares his thoughts on the projected V-shaped economic recovery, which would see the United States making a quick rebound from its current slump.

“If the government continues to keep people isolated at home for another two weeks, the economic V-shaped trend that everyone discusses will not happen, and the recession may be worse than the virus at that time.”

For investors navigating the volatile equities markets, Draper believes it’s not the best time to buy US stocks.

But that’s not his position on Bitcoin (BTC). The billionaire says he stands behind his long-standing prediction that the king coin is on track to reach $250,000 by 2022 or early 2023, despite the black swan pandemic that crashed the markets.

While crypto users anticipate the Bitcoin halving in May to limit the supply of new BTC and drive a bull run, Draper says the event is just half of the story.

“If the US dollar depreciates because of large-scale printing of money in the United States, and people know that gold is no longer worth buying, then Bitcoin is a safe haven.”

The crypto investor likewise sees a silver lining in the current situation.

During a bull market, Draper argues, people are not typically open to change, but the current pandemic is driving a shift in habits, as people look for better, cheaper and faster alternatives in banking, healthcare and other industries.

He believes the crisis could trigger the adoption of new technologies such as blockchain, smart contracts and Bitcoin.

“Once people realize that the government is saving the market by devaluing fiat currencies, they will begin to accept the use of Bitcoin. People will realize that Bitcoin is more open, transparent, smoother, more valuable and more replaceable than the US dollar, peso, naira or drachma.”

Last Time This Signal Flashed, Crypto Rallied By 50%.

It’s Back Again According to a Bloomberg report published April 3rd, Bitcoin recently pushed above a key technical resistance, allowing the DVAN Buying and Selling Pressure Gauge to print a “positive divergence and a buy signal.”

To add to this, Bloomberg noted earlier this week that the “GTI Vera Convergence Divergence Indicator, which measures up and down shifts,” suggests the Bloomberg Galaxy Crypto Index — comprised of Bitcoin, Ethereum, Litecoin, Bitcoin Cash, XRP, and EOS — “flashed its first buy signal in over three months.”

Both indicators flashing buy signals preceded the 50% rally seen in the price of Bitcoin and most other cryptocurrencies that transpired from mid-December to 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:

Last Time This Signal Flashed, Crypto Rallied By 50%. It’s Back Again