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The world of Bitcoin and Cryptocurrency moves at a whirlwind pace but the Twitter / Square CEO Jack Dorsey remains committed to BTC.

In an interview with Reuters on Sept. 10, Dorsey, who also founded the mobile-payment platform Square, said he believes Bitcoin’s potential still outshines later developments:

“I think the internet warrants a […] native currency and […] Bitcoin is probably the best manifestation of that thus far. I can’t see that changing given all the people who want the same thing and build it for that potential.”

Dorsey connected BTC’s founding principles with the cooperative and decentralized ethos that he considers to be the driving spirit behind the web:

“The internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.”

Dorsey lauded the fact that “anyone with a great idea” who wants to be part of Bitcoin can join the community — they “don’t have to be part of a company,” he said.

Dorsey appeared committed to both Bitcoin and the internet in an idealized form — free from the specters of oligopoly, the excesses of corporate and government surveillance, and the stubborn asymmetries of power and capital that the advocates of decentralization must necessarily wrestle with.

Consistent with this belief in the possibility for grassroots control over the cryptocurrency’s — and the internet’s — future direction, Dorsey told reporters that it’s important to focus on improving users’ experience of Bitcoin in order to foster its widespread adoption.

In other trending Bitcoin News today:

Bitcoin Price Prediction: BTC Crucial Liftoff to $12,200 – Discovering On-Chain Metrics

The flagship cryptocurrency is currently stuck in consolidation.

The sluggish price movement comes after recovery from the recent dips under $10,000.

On the upside, BTC is limited under $10,400.

Meanwhile, the Bollinger Band highlights that ongoing consolidation is nearing an end.

As the Bollinger Bands squeeze, volatility continues to build.

Therefore, BTC could be heading into a period of high volatility and drastic price movement, but in which direction would be the breakout?

According to Timothy Peterson, CAIA manager at Cane Island Alternative Advisors, every time Bitcoin’s “30-day return hits this lower threshold (we are very close now), it is usually followed by 30-day gains of 20 – 40%.”

In other trending Crypto News today:

CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin

According to popular Bitcoin bull Anthony Pompliano, he just convinced “Jim Cramer to buy Bitcoin.”

The details of the interview are not out yet, but Pompliano remarked in his replies that the financial analyst and investor “understands the benefit of Bitcoin better than most.”

“Just convinced Jim Cramer to buy Bitcoin. Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner”

Cramer’s comments come a year after he was openly hesitant to buy Bitcoin. Responding to a follower that asked if he thinks it’s logical to have 60% of his wealth in stocks and 40% in BTC, Cramer wrote:

“Mad Money into bitcoin? Hmmm.. not top of mind. but then again, it is YOUR mad money so you must do what you think is right.”

These comments, though, also come after he stated that Bitcoin could reach $1 million in 2017.

He purportedly said on Squawk on the Street,” another CNBC show, that the cryptocurrency had room to rally exponentially to the upside because of its decentralized nature.

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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:

Just convinced @jimcramer to buy Bitcoin.

Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner 🔥

— Pomp 🌪 (@APompliano) September 10, 2020

CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-prediction-btc-crucial-liftoff-to-12-200-discovering-on-chain-metrics-202009110717

https://cointelegraph.com/news/jack-dorsey-still-thinks-bitcoin-is-the-strongest-contender-for-an-internet-native-currency

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Bloomberg Intelligence commodity strategist Mike McGlone says the Bitcoin price could be en route to $100,000, but BTC investors will have to wait.

In a new edition of the Bloomberg Crypto Outlook, McGlone says that Bitcoin is on track to breach key resistance at $14,000 as indicators show that investors are flocking into the number one cryptocurrency.

“Our chart depicts the market cap of the Grayscale Bitcoin Trust (GBTC) approaching Bitcoin equivalent holdings of 500,000. A year ago, this direct indicator of investor demand held less than half that amount. Inflows in GBTC, the largest exchange traded product, absorbed about 70% of new Bitcoin supply in 3Q, we calculate.

Also featured in our graphic is the 30-day average of Bitcoin active addresses from Coinmetrics. This strong price companion points to the crypto closer to $15,000 vs. about $10,500 on Oct. 2. Addresses plunged with prices in 2018 and were a leading indicator of the Bitcoin recovery in 2019.”

McGlone also highlights Bitcoin’s unique property in that price does not influence supply, which leaves adoption as the number one metric to measure value.

According to McGlone, Bitcoin’s valuation will rise on the back of rising adoption rates, and BTC’s historical price history suggests $100,000 could happen by 2025.

“Still in hangover mode from the 2017 rally, we don’t know what specific catalyst might launch Bitcoin to new highs, but demand vs. supply metrics remain price-positive. If the crypto echoes its past gains, with some maturation, about double the time period it took to add a zero to $1,000 could get its price to $100,000 in 2025.”

In addition, the Bloomberg Intelligence strategist says that the current macroeconomic landscape should serve as a tailwind for Bitcoin’s ascent.

“In an unparalleled macroeconomic backdrop of rapidly increasing fiscal and monetary stimulus, limited supply stores of value such as gold and Bitcoin stand to prevail, in our view. This should be true when traditional asset classes – stocks and bonds – are overextended.”

In other trending Bitcoin News today:

Bitcoin Pioneer Adam Back Predicts $50,000 BTC Price By 2022 Or Sooner

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 BTC 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 Bitcoin 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.

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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:

For context a $2 trillion market cap for #Bitcoin would put one BTC at $100,000.That’s also the same market cap as Apple.To reach the market cap of gold, one BTC would be worth about $500,000.

There is plenty of upside to come. pic.twitter.com/L1yDnaCWdg

— ecoinometrics (@ecoinometrics) October 5, 2020

https://assets.bbhub.io/professional/sites/10/Bloomberg-Indices-Outlook_Cryptos_Oct-2020.pdf

https://dailyhodl.com/2020/10/06/top-commodity-strategist-says-bitcoin-aiming-for-100000-but-it-wont-happen-anytime-soon/

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

https://cointelegraph.com/news/bitcoin-whale-clusters-pinpoint-critical-levels-btc-must-hold-to-rally

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The Bitcoin price has a maximum 15% chance of falling below $3,800 if current BTC price levels continue, says popular Crypto trader Tone Vays as BTC nears $7,000.

In a YouTube update on March 24, an increasingly bullish Vays updated his outlook for BTC/USD.

He argued that at around $6,750, the pair was sitting at resistance. Break above $6,800 and Bitcoin (BTC) would all but eliminate the likelihood of dipping to new lows under $3,800 — only a 15% chance would remain.

“Going above $6,800 would maybe give me 85% confidence we’re not going to go below this — and we’re almost there, we’ve almost broken it; we’re sitting at resistance,” he said.

“Right now, I believe there’s a 20-25% chance we’re going to go below $3,800.”

Vays had previously sounded the alarm about a potential Bitcoin collapse to as low as $2,000 before May’s block reward halving.

Now, however, he told traders that it was foolish to avoid entering the market in the hope of catching the next dip.

He continued: “That still means that you can’t wait; you can’t wait for another pullback to $3,500 — you should be in Bitcoin by now.”

As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount.

As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible.

Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”.

“As we get used to talk about Trillions, a modest $2 trillion market cap of bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right? As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.”

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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:

Here’s some perspective on the astronomical number that is $6 trillion. $6 trillion is the same as – 1/3 of America’s GDP– 130% of the Federal Reserve’s balance sheet– Enough money for $850 for each human being on Earth– or 900 million Bitcoin

Crazy.

— Nick Chong (@_Nick_Chong) March 24, 2020

As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?

As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.

— CZ Binance 🔶🔶🔶 (@cz_binance) March 25, 2020

https://cointelegraph.com/news/as-trump-talks-trillions-binance-ceo-predicts-2t-bitcoin-market-cap

https://cointelegraph.com/news/bitcoin-price-rejects-7k-but-tone-vays-says-75-chance-btc-bottomed