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The Bitcoin technical charts suggest that BTC is heading for $90K levels but might witness a shake-off before that. The recent Taproot upgrade to the Bitcoin blockchain can fuel further rally to a $190K-$260K cycle peak in December.Â
Also stock-to-flow model creator Plan B clarifies his $98K November BTC price prediction sharing the following:
âTo clarify: 98K Nov prediction is NOT based on S2F model but on my floor model. As I said before (in tweets and latest podcasts), I use 3 models:
1) S2F
2) Floor model
3) On-chain model
If for example 98K Nov floor model prediction fails, that does NOT mean S2F or on-chain fails.â
In other trending Bitcoin News today: LA Lakersâ Home Staples Center Renamed to CryptoCom Arena in a $700M Deal!
âWe are very excited about partneringÂ
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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:
Bitcoin (BTC) Is Gearing Up for Rally to $90,000 as It Hovers Around Its All-Time High
https://cryptopotato.com/la-lakers-home-staples-center-renamed-to-cryptocom-arena-in-a-700m-deal
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WHY BITCOIN SHOULD TECHNICALLY HIT ,000 BEFORE NOVEMBER 1ST!! 4k BTC PRICE IN 4 YEARS!!
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The underlying reason for Bitcoin (BTC) hitting $28,000 by November 1, 2020, is based on historical data and not just an analystâs prediction.
Bitcoinâs volatility is a well-known aspect of the asset and the fact that this aspect is high is whatâs preventing it from becoming an everyday unit of exchange/account or in simple terms â money.
Arguing the soundness of Bitcoin is for another day, however, whatâs important is this historical data that suggests an average BTC return of 196% after a certain condition has been met.
According to Krakenâs August volatility report, there are âsuppressed pocketsâ which represent bitcoin volatility slump between 15% to 30%.
To date, bitcoin has only every hit these pockets 12 times, and every time bitcoin slides into these pockets, it reverses to the mean, which happens to be a 315-day moving average.
In other words, after sliding into these pockets, volatility has seen an average surge of 140%.
Whatâs interesting is the price implication of this volatility suppression and eventual expansion.
It was observed that the price saw an average surge of 196% over the next 90 days.
On two separate occasions â 2014 and 2018, the returns were -60% and -45%., hence, there is an 83% chance of price surging 196%.
Considering the last dip in the pocket was July 24, 2020, and the surge as of writing was only 4.36%, there is a lot of upside for Bitcoin.
196% surge from July 24, over the next 90 days should put bitcoin between the $28,000 and $30,000 range and on October 22, 2020.
This would mean the Bitcoin price has to surge a 4.2% surge every day to hit the target of ~$30,000.
In other trending Bitcoin News today:
PlanB: $700,000,000 Investment in Bitcoin Industry Shows New Phase of BTCâs Financial Takeover Underway
Recent Bitcoin developments have convinced popular analyst PlanB that Bitcoin is entering a new phase of adoption.
The anonymous trader and creator of the stock-to-flow Bitcoin model points to a Reuters report that Kazakhstan has been in talks to attract more than $700 million worth of investments into the cryptocurrency sector.
The oil-reliant central Asian country offers BTC miners cheap electricity rates and reportedly accounts for more than 6% of the total Bitcoin hashrate across the globe, according to a report published in the Cambridge Centre for Alternative Finance.
PlanB also points to last monthâs news that MicroStrategy, the largest publicly-traded business intelligence company, had used $250 million of its balance sheet capital to buy Bitcoin.
âThis is a game changer: Nasdaq-listed company with $250M Bitcoin (25% of assets, 15% of market cap) is basically a Bitcoin ETF! Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF).â
PlanB recently told cryptocurrency podcaster Peter McCormack that he actually made a conservative bet when he predicted that BTC will hit $288,000.
Instead, he says it could meteorically rise to $864,000 in four years.
âIâm on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I donât mean the time-series model. So weâre not looking at Bitcoin only. Weâre looking at gold, silver, diamonds, real estate, all that stuff.
Itâs $288,000. Thatâs an average value. It could overshoot, like three times, like it did the last phases. I donât want to mention the number. I try to be conservative all the time. But letâs say a 2x or a 3x from that $288,000, and then it crashes again, of course.â
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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:
đ„đ„đ„This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)
So it begins https://t.co/UepeYeOqbI
â PlanB (@100trillionUSD) August 27, 2020
#phase5https://t.co/03h07lkiiU
â PlanB (@100trillionUSD) September 5, 2020
Futures bounce back significantly in the U.S. Europe also bouncing back up.
Might signal a slight relief on $BTC as well towards the area of $10,600-10,800.
â Crypto MichaĂ«l (@CryptoMichNL) September 9, 2020
https://cointelegraph.com/news/stocks-may-push-bitcoin-to-108k-says-trader-as-usd-bull-run-falters
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BITCOIN SET TO REACH $100K SOON AND BECOME THE WORLDâS RESERVE ASSET, SAYS NEW BLOOMBERG REPORT!!!!!
đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Bloomberg just published their new September edition report which says, âBitcoin at $100,000 is the path of least resistanceâ and predicts that BTC is set to reach 6-figures soon and become the worldâs reserve asset as its unique properties become more evident.
Making a parallel to the dollar status as the global reserve currency, Bloomberg has asserted how Bitcoin can reap the benefits of an ever-more digital society, one hungry for a liquid, always-available asset suitable to become the worldâs reserve currency.
In other trending Bitcoin News today: Mainstream Crypto: Reese Witherspoon Buys Ethereum; Paris Hilton Shows Love for BTC!
As the cryptocurrency market continues to grow, being a multi-trillion dollar industry, it keeps garnering the attention of famous individuals. Earlier today, popular actress and entrepreneur Reese Witherspoon outlined his first ETH purchase, while Paris Hilton showcased her support for BTC.
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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/markets/bloomberg-report-100000-bitcoin-price
https://cointelegraph.com/news/dreading-september-bitcoin-price-hopes-to-break-the-slump-trend
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BITCOIN BREAKING OUT!! | Massive BTC Symmetrical Triangle Points to K | Ethereum (ETH) 2.0 Update
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The Bitcoin price rose to as high as $10,272 on July 26 in an unexpected weekend rally.
It liquidated $74 million worth of long contracts on BitMEX alone, catching many traders off guard.
There appear to be two main reasons behind the abrupt upsurge of Bitcoin from $9,700 to over $10,200.
They are the liquidation of over-leveraged shorts and traders taking profit from over-extended alternative cryptocurrencies (altcoins).
When the price started to rally, major altcoins, as well as well-performing DeFi tokens, began to slump.
Ethereum declined from $322 to $311, and DeFi tokens, including Aave and YFI, saw steep rejections.Â
The simultaneous rejections of major altcoins and the price surge of Bitcoin suggest that traders took profit from recent altcoin rallies.
As traders moved their altcoin gains to Bitcoin, it possibly triggered a BTC uptrend, while altcoins declined.
ETH, as an example, rose from $247 on July 23 to $322 on the dayâs peak, recording a 30% gain.
Despite the strong sentiment around altcoins, investors are possibly taking a more cautious approach by hedging their gains.
When Bitcoin initially broke over $10,000, it triggered over-leveraged short contracts to become liquidated.
When BTC reached $10,200, it caused a cascade of liquidations to occur, totaling $74 million.
Bitcoin has seen many phases when more than $50 million worth of short or long contracts gets liquidated.
But for this to occur within a span of a few hours is less typical.
The mass liquidations of long contracts at $10,000 also suggest that the $10,000 to $10,200 remains as a heavy resistance area.
As soon as BTC hit $10,200, the price dropped below $10,000, marking a short-lived rally.
As the price of Bitcoin recovered strongly in recent weeks, some industry executives and investors expressed optimism toward BTC and ETH.
âAre you ready?â Grayscale CEO Barry Silbert tweeted when Ether price broke out of the dreaded $280 resistance level on July 25.
Well-known trader Peter Brandt, meanwhile, expects the price of Bitcoin to hit a new record high and eventually make its way to $50,000. He said:
âThat is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k.â
In other trending Bitcoin news today:
Everything You Need to Know About Ethereum 2.0
The yearslong upgrade â intended to radically transform the worldâs largest smart-contract platform â is inching closer to deployment.
The Ethereum Foundation recently announced âMedalla,â a final testnet before the mainnet launch of the Eth 2.0 beacon chain.
As of July 10, some developers, including Ethereum founder Vitalik Buterin, estimate the oft-delayed Eth 2.0 will launch by the end of this year.Â
When phase zero of Eth 2.0 does ship, little about Ethereum will change in the near term for users and dapp developers.
This is because unlike all other system-wide upgrades in Ethereum history, the Eth 2.0 overhaul will primarily be happening on a different blockchain.
The first phase of development for Eth 2.0 is centered around the creation of a separate proof-of-stake blockchain network called the beacon chain.
On this new network, ETH holders with a minimum of 32 ETH can earn rewards in the form of annualized interest on their wealth.
To earn these rewards, ETH holders must have the appropriate hardware and software connecting to the beacon chain and a strong understanding of how the technology works.Â
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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:
#DeFi platforms are red-hot with nearly $1b in collateral pledged. Oracles empower not only DeFi, but just about everything that 2nd & 3rd-generation cryptos do. So, it’s hardly an exaggeration to say that #Chainlink will lie at the heart of the #crypto revolution going forward.
â Weiss Crypto Ratings (@WeissCrypto) July 24, 2020
That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k
â Peter Brandt (@PeterLBrandt) July 25, 2020
https://www.coindesk.com/everything-you-need-to-know-about-ethereum-2-0
https://cointelegraph.com/news/why-bitcoin-suddenly-spiked-to-10-200-liquidating-75m-in-fast-rally
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