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Samson Mow, chief strategy officer of blockchain technology provider Blockstream, has said he expects El Salvadorâs volcano-powered, Bitcoin-back bonds to help the BTC price climb to $1 million per Bitcoin in just five years.
âIf Bitcoin at the five-year mark reaches $1 million, which I think it will, [El Salvador] will sell BTC in two quarters and recoup that $500 million,â said Mow, speaking alongside El Salvadorâs president Nayib Bukele at the weekend and explaining how the country could finance its Bitcoin bonds.
In other trending Bitcoin News today: Bitcoin Will Hit $100,000, According to Experts. Hereâs When They Predict It Will Happen!
And it isnât just crypto insiders who are making Bitcoin predictions. Big financial institutions have made their own predictions, as well, with JPMorgan predicting a long-term high of $146,000 and Bloomberg predicting it could hit $400,000 by 2022.
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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://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-predictions/
TA: Ethereum Prints Bullish Pattern, Why ETH Could Revisit $4.5K
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MAX KEISER: Bitcoin Will âEviscerateâ Competitors, Rally to 0K Per BTC | Ferocious Rally to K!
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According to Max Keiser, no such altseason will happen.
In July 9thâs episode of the Keiser Report, Max said that all of the Bitcoin (BTC) competitors will âbe evisceratedâ in the future.
âSo, all these altcoin posers and government subsidy-welfare bums will be eviscerated by the one true Bitcoin. Itâs about timeâŠâ
Keiser was referencing documents from the U.S. government showing that a number of cryptocurrency firms received âPPPâ loans.
The investorâs latest thoughts on the efficacy of altcoin projects come shortly after he told London Realâs Brian Rose that Bitcoin is unlikely to be usurped by any altcoins.
Keiser said that there is âno coin out there that can do something that BTC doesnât do already or will be able to do shortly.â
He added in a comment days later that Bitcoin dominance is likely to eventually reach 99% once again.
In addition to his thoughts on altcoins, Keiser also briefly discussed his price outlook for Bitcoin.
The investor said that he thinks the cryptocurrency is on its way to â$100,000 per coin,â which is a more than 900% rally from the current price of $9,200.
He previously told Infowarsâ Alex Jones that $100,000 may be too low, citing a new expectation of his that BTC will hit $400,000:
âI am officially raising my target for BTC â and I first made this prediction when it was $1, I said this could go to $100,000 â Iâm raising my official target for the first time in eight years, Iâm raising it to $400,000.â
Along with other factors, Keiser sees Bitcoinâs scarcity as a leading reason why the asset will appreciate so far in the future.
Commenting on the âPlanBâ stock to flow model, which predicts Bitcoin will reach $100,000 by December 2021, Keiser said:
âSo far, the arguments âdebunkingâ S2F for BTC appear to be just random word-salads by attention seekers. S2F is a valid and vital analysis of Bitcoin price that provides excellent insight into the market.â
The model also predicts that the cryptocurrency will achieve a price close to $1,000,000 by the end of the decade.
In other trending Bitcoin News today:
Bitcoin (BTC) Model Forecasts Ferocious Rally to $70,000, Says Weiss Crypto Ratings
The popular but controversial stock-to-flow (S2F) model now indicates Bitcoin could hit $70,000 by mid-2021, according to two analysts at Weiss Crypto Ratings.
The S2F model compares the amount of commodity in circulation divided by the amount produced every year.
The model is traditionally used to analyze the intrinsic value of precious metals such as gold and silver.
âAlthough based on a different methodology than the one used by the Weiss Cryptocurrency cycles model, it is widely respected in the crypto world. And it now points to a ferocious rally over the next 12 months or so.â
Gold currently has an S2F of 62 â meaning it would take 62 years of current production to match global above-ground holdings, according to Weiss analysts Bruce Ng and Juan M. Villaverde. Silver comes in at 22, while Bitcoinâs S2F score is 56, meaning BTC may be poised to rival gold as a safe-haven investment.
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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/hold-more-gold-than-bitcoin-says-btc-bull-mike-novogratz
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Bitcoin Price to Hit K or K Next? Crypto Traders Discuss Macro Signs | India Plans BTC Ban
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
The Bitcoin price is still struggling to break out above $10,000Â following three failed attempts over a 36-day period.
Traders remain mixed on the short-term BTC price trend as macro indicators suggest varying trends.
Many traders believe the price of Bitcoin is primed for a rally above the multiyear resistance level of $10,500, which would confirm the end to a two-year price cycle and the start to a newfound rally.
Others foresee the price of Bitcoin falling all the way to the $6,000â$7,000 range in the near term, given the three consecutive rejections of the same range in between $10,000 and $10,500 spanning over a month.
Historical data shows that declining volatility and volume suggest a large Bitcoin price movement will likely occur in the near term.
For instance, the price of Bitcoin in early September 2019 was hovering around $10,500 to $10,800.
At the time, the volume of both futures and spot markets declined substantially compared with the previous two weeks.
By the end of October, after a month of consolidation, the price of Bitcoin dropped from $10,800 to $7,300, recording a 32% pullback within two months after weeks of low volatility.
The bullish scenario for Bitcoin in the short term Traders generally anticipate a Bitcoin upsurge in the near term due to three main reasons: a compelling technical structure, an increase in the number of long-term holders and a rapidly growing hash rate.
According to Michael van de Poppe, a full-time Amsterdam Stock Exchange trader, the short-term trend of Bitcoin is optimistic as long as the price remains above $9,100.
The $9,100â$9,300 range has served as a strong support area for Bitcoin since May.
If the price holds $9,100 and breaks above $10,500 once again, van de Poppe emphasized that $12,000 is likely next.
He said: âIf we break $10,000, next level is $10,500. If we break $10,500, next level is $11,500-12,000. Crucial level to hold; $9,100-9,300.â
Similarly, cryptocurrency trader Nunya Bizniz said earlier this month that the following levels are the most important for BTC to see a prolonged rally:
* $10,000: a resistance and psychological barrier;
* $10,500: first higher high, change to market structure;
* $11,600: last three cycles, a monthly close is above a key technical level at 50% Fibonacci retracement; and
* $14,000: a close above a monthly all-time high indicates an attempt at BTCâs record high.
In other trending Bitcoin News today:
INDIA PLANS BITCOIN BAN EVEN AS ITS BANKING SYSTEM GRADUALLY COLLAPSES
The Indian government may ban Bitcoin. According to a report by Economic Times, the countryâs finance ministry has sent the proposal for inter-ministerial consultation.
The department then expects to forward the plan to its top cabinet, which operates directly under Prime Minister Narendra Modi. The move further allows the motion to be tabled as a bill in the parliament.
âWhile we have recognized⊠the power of Reserve Bank of India to take preemptive action, we are testing in this part of the order the proportionality of such measure, for the determination of which RBI needs to show at least some semblance of any damage suffered by its regulated entities. But there is none.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:
$BTC #BITCOINSlight wick now, which is fine.If we break $10,000, next level is $10,500.If we break $10,500, next level is $11,500-12,000.Crucial level to hold; $9,100-9,300.
Check it here:https://t.co/nCn6H1LjY5 pic.twitter.com/TxxsVk0GrB
â Crypto MichaĂ«l (@CryptoMichNL) June 10, 2020
BTC overhead stepping stones:1. $10K â Resistance & psychological barrier2. $10.5K â 1st higher high, changes market structure.3. $11.6K â Last 3 cycles, a monthly close above 50% Fib retracement = đ
4. $14K â A close above monthly ATH close always = đ
â Nunya Bizniz (@Pladizow) June 1, 2020
The government needs to stop this madness of deciding whether they want to ban crypto or not. Either do it so we can fight it or come up with better regulations instead of throwing a news byte every few days creating panic in public.
Aadmi kare to kya kare?
â Naimish Sanghvi (@ThatNaimish) June 12, 2020
Evidence of buyer interest around $btc M.O.This level got front run on recent dumps. Sellers just don’t have what it takes to push price down.
Longed. pic.twitter.com/LDyjNYJQDn
â Mohit Sorout đ (@singhsoro) June 11, 2020
India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses
https://charts.woobull.com/bitcoin-hodl-waves/
https://cointelegraph.com/news/bitcoin-price-to-hit-12k-or-8k-next-btc-traders-discuss-macro-signs
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BITCOIN PRICE TARGET OF $1 MILLION IS âPRETTY REASONABLEâ WITHIN THE NEXT 10 YEARS SAYS KRAKEN CEO!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Bitcoin (BTC) will be worth âinfinityâ and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken.
Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000.
âOf course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think itâs going to infinity,â he told Bloomberg TV about future price trajectory.
âThis national currencyâs only fifty years old, itâs already showing extreme signs of weakness, and pretty soon I think people are going to start measuring the price of things in Bitcoin.â
Powell was commenting as the USD weakened alongside a macro market sell-off on Wednesday, an event which had next to no impact on Bitcoin. At the same time, the U.S. national debt quietly passed $28 trillion for the first time in history.
Despite a rejection of $50,000 support, Bitcoin bulls thus remained more than optimistic.
âThe people that are believers in Bitcoin see⊠itâs going to replace all of the worldâs currency, so that basically means whatever the market cap of the dollar is, the euro â all of that combined is what Bitcoin could be worth,â Powell continued.
âI think in the near term, people see it surpassing gold as a store of value, so I think $1 million as a price target within the next ten years is pretty reasonable.â
As Cointelegraph noted, Bitcoin closed February 26% above its target dictated by the stock-to-flow-based price models, with creator PlanB still confident that $100,000 will hit at some time this year.
Meanwhile, the gold eclipse argument has been steadily gaining support on social media in particular, often at the expense of gold bugs, who are left with increasingly little ammunition to defend their anti-Bitcoin stance.
As Cointelegraph reported, it was billionaire and former Bitcoin skeptic Mark Cuban who this week took SchiffGold.com CEO Peter Schiff to task over his love of the precious metal. Gold, he told Schiff, âis dead.â
âBitcoin has been crushing gold since inception,â Kraken growth lead Dan Held added in response to claims by Schiff that a bet against gold was a losing one.
In other trending Bitcoin News today:
Bitcoin Price Charts Hint At Another Drop After Failing to Break $52K
Bitcoin (BTC) has halted its bull run in the past few weeks as the price has corrected from an all-time high of $58,000 to around $43,000.
Several arguments were found for the pullback, including a sell-off from miners and whales. The other primary reason for the correction is the sudden surge of yields across the world.
The 2-hour chart for Bitcoin shows a clear downtrend since the peak high in February at $58,000. Since then, bearish support/resistance flips have been happening suggesting further weakness in the near term.
This bearish support/resistance flip has happened at the $55,000 and $52,000 levels, with the latter serving as the current major area of resistance.
In recent days, Bitcoinâs price tried to break through this resistance zone but failed to do so. After such a failed breakout, retesting the levels below seems inevitable.
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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:
Americaâs super entrepreneurial class is waking up to #Bitcoin This is the best chance đșđž has to reclaim world economic leadership in 2021
China has a head start, but their power structure is too centralized pic.twitter.com/T0bgixxvCV
â Max Keiser (@maxkeiser) March 3, 2021
Grayscale #Bitcoin Trust Discount May Signal March to $100,000 â Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is. pic.twitter.com/qj6hfTvH8K
â Mike McGlone (@mikemcglone11) March 4, 2021
https://cointelegraph.com/news/bitcoin-price-is-going-to-infinity-kraken-ceo
https://cointelegraph.com/news/bitcoin-price-charts-hint-at-another-drop-after-failing-to-break-52k
Post Views: 611