BITCOIN IS ABOUT TO GAP HIGHER TO $77K, SAYS MAX KEISER!! ALTCOINS SET FOR EPIC PARABOLIC FINALE!!

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Bitcoin Price May Rally 4,900% and Hit Half a Million Dollars, Says Fundstrat Analyst Tom Lee – Here’s How

The head of research at Fundstrat Global Advisors, Tom Lee, says Bitcoin (BTC) could rise to half a million dollars in the long run.

In a new interview with Nasdaq, Lee says he stands by his view that the BTC price will hit $40,000 before the Dow Jones hits 40,000.

When asked if Bitcoin will hit $500,000, Lee says he believes a 4,900% increase is possible based on the number of users that ultimately join the network.

“I think in the long term it’s possible because today Bitcoin’s transaction activity is twice that of PayPal, 7x the Discover network. It’s the second-largest transaction network after Visa, and there’s four billion Visa card holders. So if you get to five million Bitcoin users, it’s almost 100x increase in price.”

As for the timeline for such a meteoric rise, Lee says he’s unsure and doesn’t have a crystal ball.

But he does think Bitcoin has a strong use case in the current financial system.

“It’s not like I’m necessarily critical of how financial systems work, but too much money is paid to intermediaries. Today, roughly 6% of all GDP globally is paid to the financial system to manage trust. Bitcoin has been around for 11 years, has never had a single fraudulent activity on its blockchain with $5 trillion of activity. So it works better than the traditional financial system and the cost is vastly lower. Today, you can transmit a million dollars of Bitcoin between countries for $15. That same transaction using remittance counterparties would cost you 5 to 10% of that – $50,000 to $100,000.”

BITCOIN PRICE RETURNS ABOVE $10K, HERE’S WHY:

Bitcoin’s recent golden cross on the daily chart may have driven bullish enthusiasm for the leading crypto to reach a tipping point.

With the upcoming halving, many investors are buying up sub 10K BTC in preparation of the supply-side shock.

Many crypto analysts have predicted when we will never see BTC price under 10K again, but with the golden cross, it may actually be the final catalyst to push Bitcoin’s price into 5 figures permanently.

Bitcoin is often referred to as a deflationary currency due to it’s ever decreasing emission schedule of new coins.

Eventually the economic law of supply and demand will have its impact on Bitcoin’s existing supply, and its decreased production of new coins, causing a rise in prices overall.

As BTC rises in price, we can expect Altseason to really kick into overdrive, due to their heavy correlation with Bitcoin’s price.

We have already witnessed many traders diversifying into alts as BTC dominance has dropped over the last few weeks, dramatically.

Many altcoins have already been outperforming Bitcoin so far this year, acting as leading indicators for the largest market cap coin.

Smart money has been silently taking positions in both Bitcoin and Alts, while prices were down during the crypto winter.

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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://www.nasdaq.com/videos/marketbrief%3A-the-bull-case-for-bitcoin

Bitcoin Price Returns Above $10K, Here’s Why

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Economist and former Goldman Sachs hedge fund manager Raoul Pal says unprecedented global economic downturns could help underpin Bitcoin as the world’s reserve currency.

And what might that do for the Bitcoin price? Pal says he believes BTC could skyrocket all the way to $1 million before the next halving, which will occur in about four years.

Due to the devastation Covid-19 has caused the global economy, Pal says there’s a high probability that a new financial system will emerge that relies on digital currencies in multiple formats.

Pal, the founder and CEO of the Global Macro Investor, believes the market is betting on the Covid-19 recession/depression to last six months.

He thinks, however, that it’s more likely to last three years.

“It’s not clear how long it will take, but if this is a recession or depression, which I think it may well end up morphing into, and it drags on three years, I think three years would be the time horizon where they’re gonna have to do something, because I fear that the dollar is going to rise dramatically over this period of time, and basically that’s a wrecking ball to the global economy, the U.S. economy, and creating deflation as we go and a whole bunch of other problems.” 

That global economic crisis could, however, correspond with a Bitcoin explosion. When utilizing a log price scale to get a long-term outlook, Pal says the BTC price is on a path toward $1 million.

“When you look at the chart in a log scale, it looks also very extraordinary, because what’s useful about these kind of triangle patterns – I call them wedges – is that usually the size of the pole of the flag is repeated again. Now, if you did that using the log chart, it would take you to $1 million in this halving. Is that possible? Who the hell knows. I think it is. But it wouldn’t match the stock-to-flow model which says it might spike to [$250,000] or something like that.”

In other trending Bitcoin News today:

Bitcoin Climbs Past $9.5K as Analysts Stress ‘Decoupling’ From Stocks

A fresh surge sees BTC/USD well on its way back to $10,000 as the impact of its weekend crash continues to dissipate.

Bitcoin (BTC) rose to reclaim $9,500 on May 14 as the recovery from last weekend’s $1,200 crash gained fresh momentum.

Bitcoin’s futures this week contrast it even further with traditional markets and macro assets.

This stock “decoupling,” which Cointelegraph reported on previously, shows no signs of abating. 

As Cointelegraph analyst Scott Melker wryly summarized on Twitter:

“Remember that day that stocks dumped and Bitcoin went up? That was today. And yesterday. They’re not correlated now, and they weren’t correlated before. Thanks.”

For fellow analyst Michaël van de Poppe, paying too much attention to correlating markets in times of crisis and afterward was a dangerous game.

“When shit hits the fan (which was in March), all correlations tend to go towards 1,” he tweeted on Thursday: 

“Since then, gold, silver & Bitcoin have been resilient for any downwards move and showing strength apart from the equity markets. Don’t pin yourself on those correlations.”

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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:

When shit hits the van (which was in March), all correlations tend to go towards 1.

Sinc then, gold, silver & #Bitcoin have been resilient for any downwards move and showing strength apart from the equity markets.

Don’t pin yourself on those correlations.$BTC

— Crypto Michaël (@CryptoMichNL) May 14, 2020

Remember that day that stocks dumped and Bitcoin went up? That was today. And yesterday. They’re not correlated now, and they weren’t correlated before.

Thanks.

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

https://cointelegraph.com/news/bitcoin-climbs-past-95k-as-analysts-stress-decoupling-from-stocks

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Institutional investor and creator of the Bitcoin Stock-to-Flow valuation model known as PlanB, for fun did some BTC price modeling with central bank balance sheets which implies a $20,000,000 Bitcoin price.

The pseudonymous trader tweeted,

“Modeling bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M”

Rich Dad Author Robert Kiyosaki added his sentiment regarding the out of control money printing by the Fed…

“WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.”

In other trending Bitcoin News today:

3 Key Metrics Show Bulls Control Bitcoin Price Despite $12K Resistance

Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure.

This holds especially true when considering that the $12,500 level hasn’t been touched in over 13 months.

Currently, analysts are making $16,000 price targets partially due to a CME gap and the expectation that U.S. inflation will rise higher.

While short-term traders confabulate whether the Aug. 28 CME futures and options expiry caused the dip seen in the past few days, on-chain data reveals holders have become more robust than ever.

63% of UTXOs haven’t been touched for over a year, something without precedent.

These holders faced a 53% dip over the thirty days leading into March 13, but even the Black Thursday crash did not entice them to move their BTC.

And in other trending Cryptocurrency news:

DEFI TOKEN YFI PEAKS AT $38,682, MORE THAN 3X PRICE OF BITCOIN

Yearn Finance and the project’s native token YFI has jumped significantly in value.

Last week, YFI made headlines for outpacing bitcoin (BTC) by price per coin, as the YFI token value spiked to $16k on August 20.

On Friday, YFI was averaging around $17-18k per coin, and the value leaped even higher during Saturday afternoon’s (ET) trading sessions.

According to market data, YFI touched an all-time high of over $38,000 on August 29. Presently, the value is hovering around $30,000.

This week, an individual on Twitter, asked the Yearn Finance founder why he was talking with the FTX exchange CEO Sam Bankman-Fried.

Andre Cronje did not detail what Yearn Finance and FTX were collaborating on, but he did confirm that some kind of partnership was in place.

“Guess the cat is out of the bag,” Cronje tweeted. “But just so that there is some expectation management, this is a long roadmap that we are working on, so it won’t be anything anytime soon. But there will be something very sexy in the future.”

In addition to the FTX topic, the defi token YFI was also recently listed on the lending platform Aave this week. Aave has also been making headlines in recent days for its total value locked (TVL), and the project’s electronic money license granted by the UK’s Financial Conduct Authority (FCA).

Yearn Finance has also revealed a new insurance primitive this week called “yinsure.finance.”

The Yearn development team published an article about the yinsure.finance subject which states:

We will systematically be releasing yinsure.finance, a prototype for a new kind of tokenized insurance.

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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:

Friday Fun: modeling #bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M💥💥💥 pic.twitter.com/WPS8Ft9B2r

— PlanB (@100trillionUSD) August 28, 2020

WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.

— therealkiyosaki (@theRealKiyosaki) August 29, 2020

https://news.bitcoin.com/defi-project-yearn-finance-smashes-records-as-native-token-surpasses-30k/

https://cointelegraph.com/news/3-key-metrics-show-bulls-control-bitcoin-price-despite-12k-resistance