BITCOIN PRICE WILL NEVER HIT 0K?! | 5 Reasons Why BTC Is Crashing Right Now!

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The Bitcoin price will hit $250,000 by 2022 according to legendary billionaire venture capitalist Tim Draper who was the first to go on the record with his quarter million dollar BTC price prediction.

There have been many fears over recent years that central banks and other authorities will target Bitcoin as they may see it as a threat to traditional financial infrastructure.

According to Dan Tapiero, though, these fears are unfounded for the time being. Dan Tapiero is the co-founder of DTAP Capital, Gold Bullion Int., amongst other firms.

He has been closely following Bitcoin for a while now, being one of the first macro voices to enter the space.

He recently commented that until Bitcoin hits $250,000, or a market capitalization of around $5 trillion, it may not have relevance on a macro scale:

“$200 billion too small to matter for macro authorities. Gold is $12 trillion and no one really cares. Bitcoin has clearance up to at least 250k. 25x before big boy global macro authorities start caring that it exists.”

His contemporary Raoul Pal, a former Goldman Sachs head of hedge fund sales and Real Vision CEO, recently commented that Bitcoin is “irrelevant on a global asset scale.”

“Yeah, 100% agree. It’s currently irrelevant on a global asset scale. As you say, even a $10trn doesn’t concern most central banks. The FX market trades half that in a day. DTCC clears and settles something over a quadrillion in a year.”

It’s worth noting that both of the investors are extremely bullish on Bitcoin.

Both believe that the leading cryptocurrency will undergo an exponential rally this market cycle that will take it above $100,000 and beyond.

Tapiero’s and Pal’s point that Bitcoin currently isn’t relevant on a macro scale has been echoed by Tom Lee of Fundstrat Global Advisors.

Lee said at a conference in Singapore in 2018 that before a Bitcoin ETF should be approved by the U.S. Securities and Exchange Commission, it should trade at $150,000 or more.

Bloomberg wrote on his comment:

“If you’re involved in crypto, the SEC can look like an obstacle,” Lee said.

“They’re establishing protections for individuals and right now it’s not convenient for the industry, but if the SEC is someone that people trust” to protect them, “that’s how you get the mainstream willing to get involved in cpypto.”

In other trending Bitcoin News today:

Former Goldman Sachs Exec Says Bitcoin ETF Will Be Approved, Bringing Billions Into Crypto Market

Raoul Pal, former Goldman Sachs exec and hedge fund manager, says that Bitcoin is offering a rare opportunity for retail investors to get out and invest in the next big thing before institutional investors.

In a YouTube interview with Jerry Hall, Pal says that a proper Bitcoin exchange traded fund (ETF) will be the catalyst that brings billions of dollars into BTC and exponentially expands the market capitalization of the largest cryptocurrency. 

“You’re allowed to front-run in Bitcoin, and I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate because the larger the market cap of Bitcoin is… This is an opportunity for retail to front-run the institutions for once as opposed to Goldman Sachs front running us.”

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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:

Analysts: Bitcoin May Surge Up to $250,000 Before Macro Authorities Care

The Last Time Bitcoin Formed This Signal, It Surged $2,500

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

Mike Novogratz, CEO of crypto management firm Galaxy Digital, is revealing when he thinks Bitcoin will hit his target of $500,000.

In a discussion with Michael Saylor on the WORLD.NOW event hosted by MicroStrategy, Novogratz proposes that Bitcoin will continue to perform well, more so as a store-of-value asset rather than as a currency.

“I think we’ve hit a tipping point in this network effect I talked about, and my base case is: if I look at Bitcoin as a percentage of gold, I think Bitcoin is going to be digital gold. I know a lot of people disagree with me. They’ll think, ‘No, it going to be money. It’s going to be the blockchains of all blockchains,’ I just don’t think so. I think it’s got a beautiful lane as a store of value. It was perfectly designed as a store of value.”

Seeing it as a store of value asset, the Galaxy Digital head says he believes the largest crypto asset will continue to catch up to gold’s $10 trillion market capitalization as it prints gains of over 10x in as little as three years.

“I think of it as, ‘What percentage of market cap is gold?’ We’re about 6% of the gold market cap. My sense is by the end of the year we are easily 10%. So that gets you to Bitcoin $55,000-$60,000. I know as soon as we get to 10%, we’re going to say, ‘Well why 10? Why not 20?’ And when we get to 20%, we’re going to be 50%, and then we’re going to be 100%.

So I would be $60,000 end of this year, and I’m $500,000 probably like 2024-2025… It doesn’t happen overnight. It happens with more and more education, with more and more seminars like this, with more and more communities buying into the idea.”

In other trending Bitcoin News today:

Roses Are Red, Violets Are Blue, Bitcoin Hits $49K And A New All-Time High Too

The Bitcoin price achieved a new record above $49,500 on Valentine’s Day on Feb. 14, rising to as high as $49,600 on Coinbase.

There are three main reasons Bitcoin surged to a new all-time high, high stablecoin inflows, clean break of the $38,000 resistance area, and a prolonged consolidation phase.

Throughout the past several days, despite Bitcoin’s consolidation below $38,000, on-chain analysts pinpointed the continuous increase in stablecoin inflows.

According to data from CryptoQuant, a data analytics platform, the Stablecoin Supply Ratio (SSR) rose significantly as it rallied from the mid-$30,000 region.

The SSR indicator shows the ratio of the market cap of Bitcoin relative to the aggregated market cap of stablecoins.

When the price of Bitcoin rises in tandem with the SSR ratio, then it means it is likely being driven by sidelined capital re-entering the market.

This trend is highly optimistic because it shows that the rally was not just driven by an over-leveraged futures market. In fact, it was genuine demand from the spot market that led the uptrend.

Atop the high stablecoin ratio, analysts also pinpointed the decline in selling pressure coming from miners.

The combination of the lower selling pressure from miners and the increasing stablecoin inflows into exchanges catalyzed the ongoing Bitcoin rally.

Bitcoin was consolidating under the $38,000 resistance area for a prolonged period. This presented a risk to the short-term bull cycle of Bitcoin.

When the price of Bitcoin hovers under a key resistance area for a long time, it increases the probability of BTC dropping to a lower support area to tap lower liquidity.

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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:

After the Bitcoin halving in May 2020, miners make half the $BTC they used to make.

Today, miners earned $4m in 1 hour, making it the biggest hourly revenue in history. h/t @glassnode

That’s how fast BTC has risen in the span of 9 months.

— Joseph Young (@iamjosephyoung) February 12, 2021

https://www.theblockcrypto.com/linked/94750/jpmorgan-bitcoin-btc-trading-client-demand-coo-comments

https://cointelegraph.com/news/roses-are-red-violets-are-blue-bitcoin-hits-49k-and-a-new-all-time-high-too

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Crypto analyst claims “If the Bitcoin price hit the gold market cap, BTC price will be worth $300,000.”

This bullish analyst shared on Crypto Twitter…

“People underestimate how quickly Bitcoin will go from $20k to $50k and then $100k. Most of the new people have never seen a full bull market. They have no idea how much Bitcoin will pump once it really gets going!”

“If Bitcoin ever hits the market cap of Gold, BTC will be worth $300k. If Bitcoin ever hits the market cap of the world’s narrow supply of money, BTC will be worth $2m. Buying under $10k is an absolute no brainer. Keep accumulating. Keep holding. This is only the start!”

$12 to $12K: The $100,000 BTC Halving 2020 Is Just 100 Days Away

Bitcoin (BTC) is just over three months away from having its supply cut in half – and major market commentators are unashamedly bullish on its impact.

In a tweet on Feb. 1, rating agency Weiss Ratings presented a summary of Bitcoin price performance over its two previous block reward halvings. 

“Here’s how Bitcoin halvings have impacted the market. So, does the Bitcoin halving help drive prices higher? Absolutely. The only question now is how high will BTC go this time around?”

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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:

People underestimate how quickly Bitcoin will go from $20k to $50k and then $100k.

Most of the new people have never seen a full bull market. They have no idea how much Bitcoin will pump once it really gets going!

— Bitcoin Macro (@BTC_Macro) February 1, 2020

If Bitcoin ever hits the market cap of Gold, BTC will be worth $300k.If Bitcoin ever hits the market cap of the world’s narrow supply of money, BTC will be worth $2m.Buying under $10k is an absolute no brainer.Keep accumulating. Keep holding.

This is only the start!

— Bitcoin Macro (@BTC_Macro) January 31, 2020

https://cointelegraph.com/news/12-to-12k-the-100-000-bitcoin-halving-is-just-100-days-away

https://www.forbes.com/sites/billybambrough/2020/02/03/coronavirus-fears-could-see-bitcoin-explode-in-value/#566624f07cbe