PLAN B STICKS TO $135K BITCOIN YEAR-END PRICE PREDICTION ‘WORST-CASE SCENARIO’ AFTER OCTOBER CLOSE!!

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Bitcoin price dumped on Friday as the news appeared to rattle markets, sliding almost 10% and bouncing off support at around $7,000.

Cryptocurrency exchanges operating illegally in China face a new threat after the central bank announced it would take new steps to uphold its trading ban.

In a statement on Nov. 21, the People’s Bank of China warned it was taking action against entities allegedly involved in trading cryptocurrencies such as Bitcoin (BTC).

In a Twitter debate on Nov. 21, commentators joined forces against Peter Schiff, who shared with $1,000 BTC price prediction. Schiff: $1,000 would “complete the pattern” for BTC

Arguing current price action correlated to a “head and shoulders” formation, the gold bug forecast a dramatic downturn would characterize markets in the future. He summarized:

“Bitcoin is nearing the neckline of the head-and-shoulders top I pointed out before the Oct 25th 40% pump. The right shoulder is now shrugged and the neckline slanted and parallel to the shoulders. If it breaks the price objective for the dump is $1,000 to complete the pattern.”

In other Crypto news todays, popular Crypto analyst Alex Kruger called the Bitcoin price dump yesterday, in which he tweeted the following:

“BTC needs to rally or it will crash. How brilliant, right? If it doesn’t go up, it will go down! I’m aware non-technical traders are repelled by this way of thinking, so let me break it down. Mind this is NOT financial advice, just sharing my thought process. I’m often wrong.”

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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 asked “why did this happen?”A rationalization:#1 China news used to drive price +42% (front-running expected new demand)#2 Price dripped lower on low volume=>increased demand never materialized

#3 Sellers sold every single rip. They just did.https://t.co/TmVfeMCGXE

— Alex Krüger (@krugermacro) November 22, 2019

https://cointelegraph.com/news/ok-doomer-peter-schiff-is-convinced-bitcoin-will-now-crash-to-1k

https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

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BTC and crypto trading guru Tone Vays has said that the Bitcoin price may have reached its price floor bottom.

If so, he advocates for investors to buy now for long-term holding. The notion of buying on dips as a tried-and-true investment strategy dates back generations.

For Bitcoin (BTC) and other cryptocurrencies in general, picking up promising platforms during lows can be both extremely profitable, yet it is also quite challenging given the volatility of the market.

Vays clearly thinks that now is the time for investors to start accumulating. He has tweeted:

“It’s hard to say if Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard. Ex: These capitulations ‘usually’ drive price to NEW lows but we stayed above $3,150.”

“For those that “Bought the Dip” under $4k lock it down as HODL. For those that missed it, I am comfortable buying it here, but also setting $BTC Limit orders at $4,550, $3,550 & my ALL IN is at $2,750-2,950! Can’t see Bitcoin going lower for those waiting on sub $2k”

Since the price collapse on Thursday, there has been no shortage of speculation over the market’s next steps.

Unlike previous crashes, this one has deeper ties to global events. Many crypto advocates believe that the BTC price could go much lower.

Even Vays acknowledges such but claims that enough data exists to feel optimistic that the worst is over.

Anthony Pompliano Calls Market Conditions ‘Bitcoin Rocket Fuel’, Confirms Morgan Creek Digital Bought BTC Dip

In spite of the historic losses and wild swings, Morgan Creek co-founder Anthony Pompliano remains upbeat on the cryptocurrency’s future, revealing how he bought the dip.

“Basically, what you guys have to understand is that there’s incredible pressure in the Bitcoin market but nothing about the network changed. It’s completely stable. It’s exactly how it was, and there’s been a very big price discount. Of course, we’re bullish. As I said earlier this week, I bought more Bitcoin. We bought more Bitcoin at Morgan Creek. We definitely think that there is the same exact investment thesis that’s laid out.”

Pompliano says several factors can catalyze a Bitcoin surge around the halving.

“I think that, as I’ve been saying for months and months now, there is complete rocket fuel for Bitcoin… You’re going to see the rate cuts, you’re going to see quantitative easing, and then you’re going to see the Bitcoin halving. It’s all going to happen around the same time. And, I think that Bitcoin is going to become incredibly attractive to a lot of people very quickly.”

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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:

It’s hard to say if #Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard.
Ex: These capitulations ‘usually’ drive price to NEW lows but we stayed above $3,150. pic.twitter.com/zD3FT1reeD

— Tone Vays – TheFinancialSummit.com (@ToneVays) March 13, 2020

Blockchain is the future. The few great companies and projects should and will rise to the top.

— The Wolf Of All Streets (@scottmelker) March 14, 2020

Bitcoin Price Will Not Drop Below the $2000 Mark: Tone Vays

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Widely followed on-chain analyst Willy Woo predicts Bitcoin will ‘go nuts’ in the coming months as long-term holders continue to accumulate the leading cryptocurrency (BTC).

“This is a macrocycle thing. You would have seen it at the 2015, 2014 bottom. You saw it at the 2019 bottom, and actually, you saw it over the 2020 where we came back down. There was the Covid crisis. There was Michael Saylor scooping up all the coins, and that was another peak of long-term holders accumulating. We’re moving into a peak, and we will be at the peak at current rates by next month. 

That means peak accumulation. Peak accumulation means, that’s defining this kind of sideways band and then after that, we do a run-up.

The last run-up was $10,000 to $60,000 starting from October last year. The run-up before that was from $4,000 to $14,000 over a matter of months. So if October we start to peak… we’re starting to look into November onwards to go. That’s when the run-up happens. All the coins are being scooped up by these long-term guys… Just the structure of the market is like, “This thing is going to go nuts.’”

In other trending Bitcoin News today: Bitcoin in a Supercycle? Analyst Will Clemente Says Long-Term BTC Holders Changing Market Structure!

“If I had to use one chart to argue that we are in a ‘Supercycle’ it would be this. Macro HODLing (hold on for dear life) behavior has shifted after March of last year. Makes a convincing case for the end of the 4-year cycle.”

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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/remarkable-on-chain-metrics-could-spell-bitcoin-ethereum-bull-market-return-new-report

https://cointelegraph.com/news/bitcoin-price-sinks-to-46-7k-despite-record-accumulation-and-supply-shock-events