BITCOIN ON TRACK TO HIT $90K TARGET IN NOVEMBER, SAYS TOP CRYPTO ANALYST! Volt Equity BTC ETF LIVE!

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These are the Altcoins that have outperformed the rest of the market including Bitcoin (BTC) in the past week as the DeFi craze gains steam.

Altcoins have started to record large gains across the board. Some small-cap coins have seen triple-digit percentage gains in recent weeks.

But several larger-cap cryptocurrencies have also been posting serious gains such as VeChain (VET), Stellar (XLM), Cardano (ADA) and Chainlink (LINK).

In the past week, VET, XLM, ADA, ALGO, LINK, BSV, ATOM, XRP, CRO and ETC outperformed the rest of the market including Bitcoin, which gained just 1.13% during the period. 

Since March, both Bitcoin (BTC) and Ether (ETH) recorded gains of over 150%, reportedly fueled by a surge in retail demand as well as institutions.

Following the strong recovery of the top two crypto-assets, the momentum of many altcoins began to increase, particularly following the Bitcoin halving in mid-May.

VET ranked as the third-best performing crypto asset of the week. Some speculate that the participation of the VeChain team at a major conference might indicate a product announcement.

Others believe the rally derives from the anticipation of a potential Coinbase listing.

On June 11, Coinbase said that it is reviewing VeChain along with 19 other cryptocurrencies.

Mentioning VeChain, the exchange said:

“Today we’re announcing that we are exploring the addition of a range of new assets. As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.”

Stellar and Cardano are set to see major protocol updates, with Cardano’s hard fork scheduled to activate on July 30.

The hype around protocol upgrades and new product releases have buoyed the sentiment around top cryptocurrencies in recent weeks.

Other crypto assets, like Chainlink, for instance, have recently surpassed their record highs after a strong month in June.

The interest around LINK increased after it entered a price discovery phase.

Price discovery is a technical term for when an asset surpasses its all-time high into uncharted territory.

In other trending Bitcoin News today:

84% of Crypto Twitter Is Buying or Holding Bitcoin, Boosting Bull Case

There have been many analysts over recent weeks arguing that Bitcoin is clearly at a market top.

One trader commented that the cryptocurrency is trading in line with a textbook “distribution” pattern.

“A couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the verge of failing. 2. Side by side, ascent vs descent with selling the dominant pressure from volume,” a trader said on the matter.

Yet data shows that long-term investors are unfazed. Namely, a majority of respondents to an impromptu Twitter poll has revealed that they’re still long on Bitcoin.

On July 9th, pseudonymous BTC analyst “PlanB” conducted a poll via his Twitter account, followed by over 100,000.

He asked his followers — which represent a good portion of Crypto Twitter — if they’re holding, buying, or selling Bitcoin.

The impromptu poll, which reached over 13,800 individuals, found that 65.6% of respondents are currently holding Bitcoin. 18.3% of the respondents are buying the cryptocurrency at the moment. And a mere 3.9% of the respondents are currently selling 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:

These Altcoins Are Poised to Outshine Bitcoin (BTC), Reports Crypto Intelligence Firm

84% of Crypto Twitter Is Buying or Holding Bitcoin, Boosting Bull Case

https://cointelegraph.com/news/new-altseason-visualized-top-10-cryptos-outperforming-bitcoin

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Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is “conservative,” and those levels should hit in less than two years.

That was according to Blockstream CEO Adam Back, who delivered a fresh bullish Bitcoin price outlook on Monday.

Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor Ark, who in September forecast a BTC market cap of $1 trillion to $5 trillion by 2030 at the latest.

Ark is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise in 2020.

“Conservative. I’d say bitcoin likely sees $1 trillion market cap within 2 years, probably sooner. $1 trillion is about BTC $50k,” he said.

As of October, Bitcoin’s market cap is just over $198 billion.

For Back’s prognosis to come true, the market would need to see a 400% increase by 2022.

For reference, at the start of October two years ago in 2018, the figure stood at $114 billion.

BTC/USD traded at $6,600, two months before the pit of its bear market which bottomed out at $3,100.

Further responses to Ark included on-chain data resource Ecoinometrics, which highlighted a $2 trillion Bitcoin market cap as equal to that of Apple.

BTC/USD would trade at $100,000 under such circumstances, while to equal gold, the pair would need to reach $500,000.

BTC price activity is currently much more subdued, with analysts expecting more sideways action to characterize the remainder of the year. 

At the same time, anticipation is building over BTC/USD abandoning its correlation to traditional macro assets and rising in line with historical behavior — specifically centered on predictions from the stock-to-flow price forecasting models. 

Stock-to-flow calls for an average price of $288,000 during the current halving cycle, which began in May and will last until 2024.

Adam Back: Crisis Will Push BTC to $300K Even Without Institutions

The Bitcoin pioneer says that unlimited money printing will drive retail investors toward BTC and push the price to $300,000 within five years.

In an interview with Bloomberg — in which he once again denied he was Bitcoin (BTC) creator Satoshi Nakamoto — Back outlined his thinking behind the sky-high price prediction.

The cypherpunk OG — who was cited in the Bitcoin white paper — added that BTC may not need the long-awaited flood of institutional money to push it into a bull run.

“It might not require additional institutional adoption because the current environment is causing more individuals to think about hedging,” Back said.

“And retaining value when there’s a lot of money printing in the world.”

In January, Back responded to reports that had unearthed early Bitcoin dev Hal Finney’s wild speculation that Bitcoin may be worth $10 million one day.

Back said that it was entirely possible that high inflation could make $1 worth $0.10 over a decade or so, which would mean: “$10mil/BTC is $1mil/BTC in today’s money.”

“And $100K Bitcoin doesn’t seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.”

With that in mind, it’s possible that Back expects a $300,000 BTC price in five years’ time to be more achievable, as it would be worth considerably less in today’s money due to inflation.

In other trending Bitcoin News today:

Bitcoin and Ethereum Bull Raoul Pal Details How to Spot the Next 100x Investment

The Real Vision CEO Raoul Pal is sharing his blueprint for how to spot the next investment with 100x potential.

In an interview with Chris Dark, the host of Dr Dark after Dark, Pal says you don’t have to venture far to find that life-changing bet.

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

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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 30 day historic volatility has been falling fast and is in the 20’s. In the past it has hit 20% vol 7 times. 6 times prices exploded higher immediately and vol hit 80% in a few months. 1 time (Nov 2018) prices fell sharply. Either way, a big move is coming soon. #Bitcoin pic.twitter.com/9qKdLcAf0V

— Raoul Pal (@RaoulGMI) October 7, 2020

https://cointelegraph.com/news/bitcoin-pioneer-predicts-1t-btc-market-cap-by-2022-or-sooner

https://cointelegraph.com/news/adam-back-crisis-will-push-btc-to-300k-even-without-institutions

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Alex Mashinsky, CEO of crypto lending platform Celsius, says he’s standing by his prediction of Bitcoin ending 2021 somewhere in the $140,000-$160,000 range.

The Celsius CEO says that once BTC breaks a certain range not far above its current prices, the flagship crypto won’t be facing any tough resistances until new all-time highs. Mashinsky adds that he sees BTC flying up above $140,000 by the end of the year for a rally of 265% based on the current price of $38,300.

“I think we are also hitting some resistance here in the $40,000 to $45,000 levels, and there is not a lot of resistance above that, so I think we’re going to consolidate here and break to new highs. I still stand by my prediction that this year we’ll see anywhere between $140,000 and $160,000 per Bitcoin.”

In other trending Bitcoin News today: Crypto Analyst Predicts Massive Ethereum Breakout, Forecasts New Bitcoin All-Time High by November!

He also says that a “flippening,” or an overtaking of Bitcoin in terms of market cap, is in store for Ethereum.

“This consolidation will come to an end soon. The flippening is knocking the door.”

As for Bitcoin (BTC), the crypto trader also sees the leading cryptocurrency meteorically rising to a new all-time high of around $80,000 by November. According to Inmortal, Bitcoin’s daily chart looks very similar to its price action at the start of 2020 when BTC rallied from $7,000 to $10,000 in a few weeks.

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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:

Celsius CEO Still Sees Bitcoin Finishing the Year Between $140,000–$160,000

https://cointelegraph.com/news/binance-to-bring-bitcoin-payments-to-shopify-via-new-partnership

https://cointelegraph.com/news/bitcoin-eyes-36k-support-as-chart-hints-at-potential-golden-cross-within-weeks