FUTURES-BASED BITCOIN ETF HAS ’75% CHANCE OF APPROVAL’ IN OCTOBER, SAYS BLOOMBERG SENIOR ETF ANALYST

➡️ 5 *MORE* COINS TO $5 MILLION: http://5coins.cryptonewsalerts.net

BITCOIN PRICE PLUMMETS TO $3,858 ON COINBASE

On Friday morning, many crypto exchanges saw the BTC price tumbling to a daily low at around $3,800, after which it quickly returned to above $4,000.

On Coinbase, the king of crypto hit a daily low at $3,858, while on Bitfinex it stopped at $4,001.

The last time when Bitcoin (BTC) was trading below $4,000 was in April 2019, so the cryptocurrency touched the lowest level in almost a year.

This is by far one of the worst weeks for Bitcoin. Since Monday, it has lost 53% to its recent bottom. Last Friday, it traded above $9,100, and has lost 58% since then.

However, most of the pain came yesterday, when bears tested one support level after another.

Initially, Bitcoin fell to around $7,500, which was a strong support line of an uptrend that started to form in April last year.

Once it broke below it, the price plummeted and ignored any logic. Bulls were crashed and the updating lows imposed traders to close their positions en masse, which fueled the panic.

Panic has been the norm this week not only for the crypto market. The stock markets also crashed to multi-year lows, with US and European indexes experiencing their worst declines in over 30 years.

The trigger point of all this economic horror is the coronavirus outbreak that started in China and spread to Europe, South Korea, Iran, and other regions.

The price war between Saudi Arabia and Russia has also had an impact, as oil prices crashed 30% on Monday, which was the biggest single-day decline since the Gulf War in 1991.

The crypto market couldn’t remain indifferent to the economic shock and has lost half of its value this week, falling to below $140 billion.

It has lost over $90 billion in the last 24 alone.

Bitcoin Under $1K Is Possible Warns Veteran Trader Peter Brandt Veteran trader Peter Brandt — who is famous for correctly predicting the market crash from the all time high — today tweeted an answer that no one wanted to hear in response to an inquiry about the new ‘bottom’ for Bitcoin due to coronavirus.

Brandt said that if he looks at the Bitcoin chart “without bias” the new bottom is potentially “sub-$1,000”.

That’s almost 80% below the current price, which is just under $5000.

The one time commodities analyst is no crypto skeptic — in fact, he’s often more bullish than bearish about Bitcoin, and believes that parabolic increases in the Bitcoin chart could see it hit $140,000.

Brandt also correctly tipped a price spike during the depths of crypto winter shortly before the Bitcoin price doubled in mid-July. 

Follow Us:

➡️ [PODCAST PROMO] Get $25 In Free CMDX Tokens from our sponsor: http://promo.cryptonewsalerts.net

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

If I interpret the chart without bias, I would say sub $1,000

— Peter Brandt (@PeterLBrandt) March 12, 2020

This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.

— Edward Snowden (@Snowden) March 13, 2020

Bitcoin just jumped $1,800, 40%, in three minutes on Coinbase.

What. The. Hell.

— Nick Chong (@_Nick_Chong) March 13, 2020

No, Bitcoin as a store of value isn’t dead just because it had a super shitty day. No, Ethereum and defi aren’t dead just because they had a super shitty day. In the coming months the world will see what anti-fragile means.

— Erik Voorhees (@ErikVoorhees) March 13, 2020

Bitcoin Surges 40% In Minutes After Briefly Breaking $3,900

Bitcoin Dips Below $4K to 1-Year Low, What’s Next?

https://cointelegraph.com/news/us-fed-unveils-15t-rescue-injection-but-will-bitcoin-price-rebound

https://cointelegraph.com/news/bitcoin-under-1k-is-possible-warns-veteran-trader-peter-brandt

https://cointelegraph.com/news/edward-snowden-feels-like-buying-bitcoin-amid-price-crash

➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net

Two years ago, venture capitalist and noted Bitcoin investor Tim Draper publicly stated that BTC will hit $250,000 by 2022.

Yet, as Bitcoin continues to gain interest from investors, Draper revealed to Cointelegraph during an interview that a $250,000 price prediction may have been conservative:

“I think it’ll certainly hit that. But a lot of people are thinking that $250,000 was a little too conservative.” 

Draper also discussed the impact of the COVID-19 pandemic on the blockchain space, noting that tokenization will play a major role in solving problems related to global shipping and real estate.

Additionally, Draper shared his thoughts on decentralized finance, or DeFi, saying he wants to “‘DeFi’ the venture capitalist business” moving forward.

CT: Right now, the world is in the midst of a crisis. Which technological breakthrough will help humanity come out stronger on the other end? 

TD: Tokenization will advance. We’re seeing it in real estate, global shipping and in everything where items of value need to be moved between parties.

Now, these items can be transferred over the internet, which is so useful for industries like real estate and global shipping.

In the case of real estate, you could buy a piece of my house, or you could tokenize my real estate and own a piece of that property without having to buy the whole thing. 

Tokenization and shipping is also a great way for people to own containers to keep track of the entire Iot.

I think we’re going to see some extraordinary breakthroughs in shipping and also with any kind of logistic use cases.

CT: And are you still sticking with your prediction that Bitcoin will hit $250,000 by 2022?

TD: Yes, Bitcoin will hit $250,000 by 2022 or the beginning of 2023. That $250,000 is really based on a 5% market share of currencies.

I think that’s easily achievable, especially as more women start using Bitcoin, since they control 80% of retail spending. It’s really interesting that there used to be one in 15 Bitcoin wallets that women held, and now it’s advancing.

As women start using those wallets, they’ll realize this is much easier. I moved as much of my money as I felt fair into Bitcoin. And so, yes, I think it’ll certainly hit that, but a lot of people are thinking that was a little too conservative.

In other trending Bitcoin News today:

Bitcoin Price Hits $14,000 Exactly 12 Years After Whitepaper Released

The price of Bitcoin has surpassed the critical $14,000 mark, the highest level since January 2018.

The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008.

Since then, the world’s biggest cryptocurrency has seen remarkable and exponential growth across various areas.

Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory.

An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid.

The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle.

Every four years, Bitcoin undergoes a block reward halving, which cuts the rate at which new BTC is mined by half.

This happens because 21 million BTC can ever exist on the blockchain.

As BTC approaches its fixed supply, the rate of production gets slowed.

A halving historically has had a positive impact on the price of Bitcoin.

It reduces the pace a new BTC supply is introduced to the market.

Consequently, every four years, there is less BTC flowing into the exchange market.

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on Spotify: http://spotify.cryptonewsalerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

Compared to the past ($1, $10, $100, $1K, $10K), we will see a short insane mania fomo peak above $100K. It’s impossible to say how high exactly. Anything between $120K and $220K I guess, based on these previous tops.https://t.co/LxYLwAJM7o

— Bit Harington (@bitharington) October 31, 2020

$15,000 by Monday #Bitcoin

— Max Keiser (@maxkeiser) October 30, 2020

Tim Draper wants to “DeFi venture capitalism,” also noting that Bitcoin will hit $250 thousand in the coming years thanks to consumer adoption. https://t.co/lrb1zJhM1s

— Cointelegraph (@Cointelegraph) October 30, 2020

https://www.wsj.com/articles/cash-is-trash-so-lets-bet-425-million-on-bitcoin-11604070071

https://cointelegraph.com/news/tim-draper-seeks-to-defi-the-venture-capital-business-with-bitcoin

https://cointelegraph.com/news/bitcoin-price-hits-14-000-exactly-12-years-after-whitepaper-released

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

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.

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

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