BITCOIN IS GEARING UP FOR $260K CYCLE PEAK IN DECEMBER!! PLAN B CLARIFIES NOVEMBER BTC PREDICTION!!

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The pseudonymous analyst who goes by the name Dave the Wave predicts the Bitcoin price will hit $500,000 – eventually.

Dave, a technical trader who correctly predicted the BTC collapse from $11,600 to $6,400 last year, is reacting to Tyler and Cameron Winklevoss’ recent Bitcoin analysis.

The twin brothers and co-founders of crypto exchange Gemini say Bitcoin is undervalued as long as it trades below $500,000, citing the likelihood of hyperinflation in the US that could drive Bitcoin as a safe-haven asset.

“Good to see a reasonable price projected here by the Winklevoss brothers.”

In response, Dave shared his analysis of Bitcoin’s long-term trajectory, which tracks the cryptocurrency’s past price movements and increasingly long cycles.

His chart shows Bitcoin could reach $500,000 sometime around 2029.

“When peaks are ‘stepped’, they meet on the logarithmic growth curve. With each subsequent cycle – from base to peak – an extra year is added.”

The trader, who refers to himself as a “BTC Centrist,” also recently released a projection predicting Bitcoin would hit $100,000 sometime in early 2023.

That’s a slightly more conservative projection than the one recently released by PlanB, the controversial analyst who burst onto the scene last year after being the first to apply the stock-to-flow (S2F) ratio to Bitcoin.

PlanB’s latest S2F forecast predicts BTC will hit $100,000 even earlier, by August 2021.

The pseudonymous analyst’s newest cross-asset model, BTC S2F (S2FX), enables the valuation of different scarce assets like silver, gold and Bitcoin with a single formula.

It predicts Bitcoin will be worth $288,000 by 2024 year end.

In other trending Bitcoin News today:

BITCOIN COULD SURGE TOWARDS $20,000 BY END OF 2020: MARKET CYCLE ANALYSIS

A market cycle analysis by one crypto trader suggests that Bitcoin will hit $20,000 in the coming months, likely by the end of 2020.

The charts show that per historical market cycles, BTC is at the point of its ongoing bull market where it will begin its parabolic ascent towards its previous all-time high.

This market cycle forecast isn’t the only analysis showing that Bitcoin could hit $20,000 by the end of 2020.

This strong sentiment has been echoed by a number of market participants.

Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, commented in a research report on crypto:

“Bitcoin is mirroring the 2016 return to its previous peak. That was the last time supply was halved, and the third year after a significant peak. Our graphic depicts Bitcoin marking time for a third year following the parabolic 2017 rally… Fast forward four years and the second year after the almost 75% decline in 2018, Bitcoin will approach the record high of about $20,000 this year if it follows 2016’s trend.”

Arthur Hayes, CEO of BitMEX, has also mentioned this price target.

In an April blog post, he said that the Federal Reserve money printer and other macro trends will push the asset to its all-time high this year:

“As violent as the Q1 collapse in asset values was, we have almost 100 years of imbalances to unwind the ancien régime. My end of 2020 price target remains $20,000.”

He seemingly doubled down on this price target in a recent blog post.

“I, like many other pseudo intellectual keyboard warriors, have a massive upside price target for Bitcoin. I will get to that in the next digest. But Q4 is going to be a humdinger. The financial markets are going to whipsaw as politicians contort themselves to continue feeding at the trough.”

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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:

The road to 500K and price stability.When peaks are ‘stepped’, they meet on the logarithmic growth curve.

With each subsequent cycle – from base to peak- an extra year is added. pic.twitter.com/i4HN49UdGi

— dave the wave (@davthewave) January 5, 2019

BTC Monthly:Yesterday the month closed above the 50% Fib retracementSo what buddy!Well if past cycles are a sign and the pattern continues, the launch sequence has been initiated.1. Halving ✅2. Monthly close above 50% Fib Retracement ✅3. Bull market 🚀to 🌜

Let’s Go! pic.twitter.com/qlLRZjphD8

— Nunya Bizniz (@Pladizow) September 1, 2020

I don’t normally like making definitive #bitcoin price predictions. That being said, this is the last time you’re going to see bitcoin below $12K…until it goes back above $12K.

— Cameron Winklevoss (@winklevoss) September 2, 2020

Bitcoin Could Surge Towards $20,000 by End of 2021: Market Cycle Analysis

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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.

Show Notes / Resources:

🚨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

https://cointelegraph.com/news/bitcoin-hits-a-new-high-of-51-3k-as-analyst-declares-historic-parabolic-advance

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Adam Back, the CEO of Blockstream who was quoted in Satoshi’s white paper, says that the Bitcoin price hitting $20,000 would’t seem surprising to him if that happened due to the current BTC market conditions.

“woke up to a vivid dream this morning, which took a moment to realize was a dream. sure you’ve had them once in a while. it was that bitcoin hit $20k overnight and then pulled back to $16k. didn’t seem surprising given the market conditions, so it wasn’t price that caused wakeup” – Adam Back

Bitcoin Could Rocket Higher

It is worth noting that Back accurately called Bitcoin’s recent price spike.

As reported by U.Today, he explained that dip buyers would soon start putting their cash to work.   

The drop that followed dampened bullish sentiment, but it remains to be seen whether this downtrend will continue.

With the U.S. Federal Reserve firing new bazookas and the Bank of England promising to print an unlimited amount of money, there hasn’t been a better time for Bitcoin (BTC) to shine. 

Bitcoin Price Analysis: BTC Continues To Be Resilient As Economy Tanks – Are We Headed Above $7,000 Next?

Bitcoin fell by a total of 4% over the past 24 hours of trading.

It had dropped much further lower but managed to find strong support at $5,786 which allowed the cryptocurrency to rebound higher and break back above $6,000.

The cryptocurrency is proving to be extremely resilient as it continues to stabilize whilst the rest of the economy around the world continues to fall further lower.

Short term prediction: NEUTRAL Bitcoin remains neutral and would need to close above $6,500 before we can consider a very short term bullish trend. 

Toward the upside, the first level of strong resistance lies at $6,175.

The coin has struggled with this resistance over the past 4-days of trading and failed to close above here on each attempt.

Above this, resistance lies at $6,542 (bearish .5 Fib Retracement) and $7,000. If the buyers continue to drive even further above $7,000, resistance lies at $7,100, $7,174 (bearish .618 Fib Retracement), and $7,270.

On the other side, support is located at $5,786. This is followed with support at $5,600, $5,500, and $5,467 (.618 Fib Retracement).

Key Levels Support: $5,911, $5,786, $5,600, $5,500, $5,467 $5,200, $5,000, $4,800, $4,672, $4,577, $4,139, $4,000, $3,912, $3,500, $3,436..

Resistance: $6,174, $6,542, $6,700, $6,800, $7,000, $7,174, $7,200, $7,270, $7,500, $7,676, $8,000, $8,073, $8,250, $8,461, $8,672, $8,979, $9,000, $9,100.

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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 will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC’s year.

— Michael Novogratz (@novogratz) March 22, 2020

but don’t write off the value of liquidity, trading with less 3rd party custody, atomic trade – that’s part of the value of bitcoin. cypherspace zero trust things are very cool and literally a cypherpunk dream realized already https://t.co/AC5CnuFGlX

— Adam Back (@adam3us) March 21, 2020

https://u.today/bitcoin-btc-price-hitting-20000-wouldnt-be-surprising-for-blockstream-ceo-heres-why