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In this exclusive interview with CMDX founder Tom McMurrain, the early cryptocurrency adopter predicts Bitcoin to 10-20x in value by the year 2026, which suggest a $580,000 – $1,160,000 BTC price.
He also reveals his bullishness for Ethereum, saying he sees the leading smart contract platform growing 100x bigger than it is right now suggesting a $400,000 ETH price.
“I think we’re gonna hit the tipping point of people having wallets by the end of 2023. That means that 13% of the world has a cryptocurrency wallet.
Then I see from 2023 – 2026 is when mass adoption occurs. Realistically we’ll peak out at 10 years later so 2030 is what I’m looking at.”
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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.
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BITCOIN HITS 'HISTORIC' NEW ALL-TIME HIGH UNDERGOING ITS 3RD PARABOLIC ADVANCE IN THE PAST DECADE!!
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Bitcoin (BTC) hit new lifetime highs of more than $51,700 on Feb. 17 as it tackled what trader Peter Brandt confirms is a “parabolic advance.”
Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory.
Tuesday had seen Bitcoin hit $50,000 for the first time ever, that level nonetheless failing to hold for more than a matter of minutes.
With its return, the largest cryptocurrency is in a “parabolic advance” — the fourth in its twelve-year history, analysts say.
“Big picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade,” Brandt tweeted alongside an annotated price chart.
“A parabolic advance on an arithmetic scale is extremely rare – three on a log scale is historic.”
Responding, Kraken growth lead Dan Held noted that if counting its initial phase prior to 2012, there have in fact been four parabolic advances.
Brandt added that should the advance be violated, a correction of 80% is “most common” as a bearish consequence. Such behavior was observed in 2018 after Bitcoin peaked at near $20,000 — the market bottomed out at $3,100 one year later.
As Cointelegraph reported, various indicators nonetheless suggest that Bitcoin is far from violating any uptrend, being at the start, rather than the end of its bull run.
“$50,000 #Bitcoin is the new normal,” Blockstream CSO Samson Mow declared on Wednesday.
Discussing the new price highs, others noted that macro factors could converge to create a chain reaction of adoption, which would push Bitcoin further still into price discovery.
“If you think $50,000 a bitcoin is expensive, wait until you hear that the government is about to print $1,900,000,000,000 out of thin air,” popular Twitter account Documenting Bitcoin added.
Data meanwhile showed that Bitcoin had taken the momentum out of altcoin growth with its moves over the last few days, with all of the top ten cryptocurrencies except Polkadot (DOT) seeing sideways price action.
In other trending Bitcoin News today:
Bitcoin Selling At 36% Premium In Nigeria
It’s been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff penalties, all banks and institutions were directed to close crypto-related firms’ accounts immediately.
In the wake of the controversial move, public interest in Bitcoin (BTC) in Nigeria continues to outstrip other countries, according to the latest available data from Google Trends. Even more stark is the hefty 36% premium on Bitcoin’s price as of the time of writing, Feb. 16.
The premium translates into a $71,150 price tag per Bitcoin, as compared with the average spot market price of $51,314 calculated in Cointelegraph’s price index. The premium is also incomparable to the five next largest premiums globally at present: 3.24% in South Africa, and between 1% and 3% in Argentina, Peru, Malaysia and Vietnam.
As a Cointelegraph analysis outlined last week, the immediate impact of the central bank ban appears to have done little to quell what its author dubbed the “hyperbitcoinization” of retail trading culture in the country.
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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.
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🚨HUGE NEWS🚨
Morgan Stanley has put in an application to the SEC to launch a #Bitcoin ETF!
Thia is the first Bitcoin ETF application filed this year.
If an ETF is approved #BTC price will sky rocket in minutes! 🚀
(Source: Coinspeaker) pic.twitter.com/Mb8XTDPwZX
— NebraskanGooner📈 (@nebraskangooner) February 17, 2021
Big picture $BTC
Bitcoin is undergoing its third parabolic advance in the past decade. A parabolic advance on an arithmetic scale is extremely rare – three on a log scale is historic pic.twitter.com/fyyM5Ws6N5— Peter Brandt (@PeterLBrandt) February 16, 2021
https://cointelegraph.com/news/bitcoin-selling-at-36-premium-in-nigeria
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NEXT BITCOIN PRICE ATH TO FALL IN THE K-K RANGE | BTC Dropped 6% in Just 5 Minutes
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With the Crypto community awaiting the next Bitcoin price all-time high, Blockroots CEO, Josh Rager, warns that they might be disappointed if they expect BTC to hit $100k or more.
Bitcoin (BTC) has been a hot topic ever since it started a massive bull run in late 2017, which led the coin to its all-time high (ATH) at $20,000.
As everyone knows by now, Bitcoin saw a massive drop after that, eventually reaching only $3,200 as its lowest point in the last three years.
After the bearish 2018, the following year started showing signs of recovery, taking the BTC price almost to $14k by June 22, 2019.
BTC (Bitcoin) then saw another drop, nearly cutting its price in half.
However, the beginning of 2020 brought another surge that returned investors’ hope that this might be the year when BTC finally exceeds all previous milestones and goes as high up as to $100k, or more.
While this is a popular opinion, Blockroots’ CEO, Josh Rager, disagrees with it. Rager recently made his expectations known on Twitter, admitting that it may be an ‘unpopular opinion,’ but he sees it as more realistic.
In his recent tweet, he stated that Bitcoin’s next price peak will likely not be as high as people expect it to be.
Despite the fact that numerous analysts have proposed prices from $100k to $300k — and some even suggested $1 million.
Rager, on the other hand, claims that the simple rate of return shows the bottom to peak return reduces by 20% per cycle.
With that in mind, he expects that Bitcoin’s next price ATH will only be between $75k and $80k.
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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 Unpopular Opinion:The next Bitcoin peak high will not be as high as most people thinkLots of analysis out there point from $100k to $300k to $1MSimple rate of return will show you bottom to peak return reduces by around 20% each cycle
IMO, next high hits $75k to $85k pic.twitter.com/EoWZqcWfbe
— Josh Rager 📈 (@Josh_Rager) January 17, 2020
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REAL REASON TO BELIEVE BITCOIN WILL HIT $10 MILLION BY THIS DATE!! BTC HYBER-BULLISH ASCENSION!!
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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 Salvador’s Volcano-Powered Bitcoin Mining Preview! El Salvador’s 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 country’s 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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