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On Wednesday, just before Bitcoin surpassed the digital asset’s all-time high (ATH), the crypto analyst known as “Techdev” said the “2-week chart looks strong and ready for much higher highs.”
Just 26 days ago, Techdev said that “$200-300K BTC looks almost too programmed” and this week, the analyst noted that we are “nowhere near a top.”
Also BTC_Archive tweeted this morning to his 550,000 Twitter followers: “The last time Bitcoin weekly RSI was at this level on the way up, the price was $13K and went up 5x. IF that repeats = $322K. We are just getting started!”
In other trending Bitcoin News today: Bitcoin Futures ETF Hits $1B AUM In A Record-Breaking Two Days!
Since the ProShares Bitcoin Strategy ETF started trading this week, it has become the fastest fund ever to reach $1 billion in assets under management (AUM).
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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/bitcoin-futures-etf-hits-1b-aum-in-a-record-breaking-two-days
https://cointelegraph.com/news/breaking-2-2t-asset-manager-pimco-plans-to-buy-more-crypto
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OMG!! BITCOIN BREAKING OUT!! K IS NEXT ONCE K ALL-TIME HIGH IS CLEARED!!
➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net
BITCOIN COULD HIT $50,000 IF IT SECURES ALL-TIME HIGH!!
BTC is literally skyrocketing right now above $18,000.
In the past 30 days the leading cryptocurrency has gained 60% which represents over $6,000 in gains.
Analysts are confident that further Bitcoin gains are on the horizon.
According to Mike McGlone, a senior commodity analyst or strategist at Bloomberg Intelligence, Bitcoin passing its previous all-time high at $20,000 will cause a large move higher.
McGlone went as far as to say that the cryptocurrency passing $20,000 per BTC could trigger a move to a $1 trillion market cap for all Bitcoin.
This corresponds with approximately $50,000 per Bitcoin, a price $32,000 higher than the current BTC price point of $18,000.
“$20,000 Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap — The digital version of gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is rising…”
Analysts think that Bitcoin moves beyond $50,000 in this market cycle, despite how impressive a rally to $50,000 would be.
The Winklevoss Twins, the co-founders of Gemini and long-time BTC holders, recently stated that the cryptocurrency could pass $500,000 per coin in this market cycle:
“Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or BTC will outrun the scourge. And money stored in Bitcoin will run the fastest, overtaking gold…
Nonetheless, we believe that BTC will continue to cannibalize gold and that this story will play out dramatically over the next decade. The rate of technological adoption is growing exponentially. Software is eating the world and gold is on the menu.”
In other trending Bitcoin News today:
“Mexico’s Second-Richest Man Invests 10% of His Liquid Portfolio in Bitcoin”
Ricardo Salinas Pliego, the second-wealthiest man in Mexico, has revealed that 10% of his “liquid portfolio” is invested in BTC.
The billionaire shared a video captured in “a Latin country” depicting banks throwing out garbage bags filled with paper money into a dumpster.
He asserted that “paper money is worth nothing,” adding: “That is why it is always good to diversify our investment portfolio.”
The video appears to show bags of Venezuelan bolivars being thrown out, including 10,000 bolivar notes issued in 2016 and 2017 before the country redenominated its banknotes in 2018 amid an escalating inflation crisis.
Three hours later, Pliego then tweeted a recommendation for the book The Bitcoin Standard, asserting that “Bitcoin protects the citizen from government expropriation” and revealing his cryptocurrency investment:
“Today I recommend THE BITCOIN STANDARD, this book is the best and most important to understand Bitcoin. Bitcoin protects the citizen from government expropriation. Many people ask me if I have Bitcoins, YES. I have 10% of my liquid portfolio invested.”
Crypto Twitter reacted gleefully to the news that the world’s 166th-wealthiest citizen is significantly invested in Bitcoin, with Kraken’s Dan Held proclaiming , “The institutional herd is stampeding.”
Pliego responded to Held, saying that institutional adoption had manifested gradually since the launch of Grayscale’s Bitcoin Investment Trust in 2016.
Pliego was born in 1955 in Mexico City and is the founder and chairman of Grupo Salinas, which owns businesses in media, telecommunications, finance and retail.
Salinas is also the chairman of TV Azteca, the second-largest producer of Spanish-language programming worldwide, and the second-largest media company in Mexico.
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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:
Mexico’s third richest man, owner of a media conglomerate, a bank, with the ear of the Mexican President, just disclosed his 10% BTC position, shilling @saifedean‘s “The Bitcoin Standard” in the process.
“Bitcoin protects the common citizen against government expropriation.” https://t.co/DEAUcuxFki
— David Puell (@kenoshaking) November 18, 2020
Offers getting pulled, as I predicted. There’s nothing of size for sale. $20,000 will come and go in a heartbeat. Nothing but air above that. $28,000 in play. #Bitcoin
— Max Keiser (@maxkeiser) November 17, 2020
$20,000 #Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap —
The digital version of #gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is rising.. pic.twitter.com/m4JSt5G09N— Mike McGlone (@mikemcglone11) November 16, 2020
#bitcoin $18K. Big difference with 2017 is that most BTC sold today will never see the daylight again, they disappear into deep cold storage. Buyers today are professionals with long term vision and staying power. pic.twitter.com/Ght9LGlfSV
— PlanB (@100trillionUSD) November 18, 2020
The Primary Hurdle Toward $50,000 Bitcoin Is the $20,000 All-Time High
https://cointelegraph.com/news/why-bitcoin-price-just-flash-crashed-6-after-rejecting-at-18-5k
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INVESTMENT GIANT THE MOTLEY FOOL PREDICTS $500K BITCOIN TARGET AND ADDING BTC TO ITS BALANCE SHEET!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Financial and investment advisory giant The Motley Fool has announced it will invest $5 million into Bitcoin (BTC) with the expectation that it will rise to $500,000.
Announced earlier today via a blog and Twitter post, the firm stated it won’t be “buying overpriced ETFs” but will be “buying Bitcoin directly.” Currently ranked fifth globally in the investing category, according to SimilarWeb, and with 87 million website visits per month, The Motley Fool outlined three core reasons behind the purchase: Bitcoin is a better store of value than gold, it’s an effective hedge against inflation and it has the potential to become a transactional asset.
The firm will be investing in Bitcoin through its 10X real-money portfolio as one of 40 assets that it predicts will provide a 1,000% return over the next 15 years. The firm has recommended the digital asset as a core holding to all its 10X members and has provided time for them to purchase BTC before The Motley Fool initiates its own purchase. It added that in the coming weeks the company “will also be separately buying $5 million in Bitcoin on our own balance sheet.”
Due to the long-term commitment, the announcement explains that volatility is of little concern.
“While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today’s levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years.”
Should the company’s prediction prove true, it will see Bitcoin passing $500,000 within the next 15 years. The Motley Fool says it has a solid track record with its investments.
The Motley Fool has so far named 10 of the 40 investment picks for the 10X portfolio, with the others being cloud computing company Appian Corporation, Swiss biotech firm CRISPR Therapeutics, cybersecurity firm CrowdStrike, e-commerce platform Etsy, genetic testing platform Fulgent, insurer Lemondate, social media platform Pinterest, mobile gaming platform Skillz and video communication firm Zoom. It is worth noting that many of these stocks have already been recommended in the firm’s other, more basic investment services.
The advisory firm has been aware of cryptocurrencies for years now, with a 2017 analysis suggesting that Bitcoin’s biggest competitor was not Ethereum but Litecoin.
In other trending Bitcoin News today:
‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level
Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000.
According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other.
Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February.
“The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch up and indicators to reset,” they wrote in a tweet on Feb. 17.
“Looks like $48k is the new $35k now.”
The buoyant perspective adds fuel to the bulls hoping that $50,000, a level Bitcoin took for the first time this week, will form a solid foundation without a major correction.
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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:
We’ve got BIG NEWS! We’re buying $5 million in Bitcoin on our own balance sheet.
That’s right. $5 million.
— The Motley Fool (@themotleyfool) February 17, 2021
I’m raising my short term #BTC price target from $65K to $77K based on growing supply-shock issues – as coins are removed from exchanges
My 2021 target of $220,000 remains pic.twitter.com/y1SKIYQW53
— Max Keiser (@maxkeiser) February 17, 2021
$250k by end of 2022. Just 5X from here. Looking a lot more likely than when I made the initial prediction three years ago, eh? #Bitcoin
— Tim Draper (@TimDraper) February 17, 2021
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BITCOIN PRICE WILL SEE A 90% RALLY TO ,000!!! | XRP Price Hits Three-Week High!
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A new Bitcoin price prediction model created through machine learning is predicting that the BTC price will begin to head higher in the coming months, and will hit around $15,000 by the time of May 2020’s block reward reduction aka Bitcoin halving.
This model implies that Bitcoin will rally by 25% to $10,000 by mid-November, hit a local peak at $11,500 by January, and then dip back down to $11,000.
Should the model play out 100% in full, Bitcoin will rally by some 90% from the current price of $8,000 to hit $15,500 by the approximate date of the halving in May 2020.
In other cryptocurrency news today:
The XRP price exits downtrend to hit a new three-week high.
Are Altcoins ready to explode?!
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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:
Bitcoin Will See 90% Rally to $15,000 By 2020 Halving, Model Predicts
0/ Been working on a $btc price prediction model based on Stock-to-Flow analysis, using Machine Learning. for the past few days. Here’s how the prediction looks going into the halving next May.
Details will be shared later.$btcusd $xbt pic.twitter.com/5g5wA1lKYF
— (Stationary) Data Dater (@datadater) October 16, 2019
#Bitcoin aiming for 100trillionUSD (after 2028)?!
All physical commodities are nicely lined up on the stock-to-flow / market value grid. I added diamonds (S2F19, market value $1.5trn). Bitcoin seems to grow towards the 1 free spot on the S2F periodic table 🚀 pic.twitter.com/OZdEz72U8E— Plan₿ (@100trillionUSD) June 6, 2019
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