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A Bitcoin breakout to avoid a fresh price dip below $30K would be a “miracle,” says top trader Crypto Ed, as storm clouds gather for BTC bulls.
“Now in green box but I’d expect 1 more leg down today, followed by a bounce to ~35k From there down again, sub 30k, or ‘up only’ again, but the latter feels more like a miracle tbh.”
In other trending Bitcoin News today: As Bitcoin and Crypto Markets Retreat, On-Chain Analyst Says Major Shift Happening Behind the Scenes! With the crypto market struggling to sustain any bullish momentum, Popular on-chain data analyst William Clemente tells his 99,700 Twitter followers that sellers in the BTC market are starting to show signs of exhaustion.
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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/bitcoin-price-due-for-break-below-30k-trader-warns-after-9-daily-loss
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BITCOIN WILL HIT $1 MILLION – HERE’S WHEN!! LARGEST LATIN AMERICAN ECOM PLATFORM BUYS $7.8M IN BTC!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
“Bitcoin is going to $1 million a coin,” CoinDesk Learn Editor Ollie Leech said. “I actually believe that it will, at some stage, with just the scarcity aspect alone, it makes it an incredibly exciting asset to hold… BTC is uncontested.”
In other trending Bitcoin News today: Mercado Libre, The Largest Latin American eCommerce Platform Adds $7.8 Million In Bitcoin To Its Treasury. The purchase makes the eCom platform the 36th publicly traded company to add BTC to its balance sheet.
More breaking Cryptocurrency news: Crypto VC Giant Ramps Up Bitcoin Investment by $500,000,000! Crypto-focused venture capital giant Digital Currency Group (DCG) is snapping up another $500 million worth of Grayscale Bitcoin Trust (GBTC) shares.
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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.
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LIVE BITCOIN TECHNICAL ANALYSIS WITH PHILIP SWIFT SUGGEST BTC PRICE WELL ABOVE 0K NEXT YEAR!
➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net
In this exclusive interview, crypto analyst Philip Swift shares some live Bitcoin technical analysis which suggest we easily see a $100K+ BTC price next year.
“Into next year, probably Q3, Q4 I think we’ll be around $100K. Then as you’ve seen before we get these blow-off tops. Once price breaks above the red line I can easily see us heading up well above $100K, maybe the high $100K levels, so good times ahead.”
Philip also shares some very bullish on-chain analysis charts as well as the ‘Golden Ratio Indicator’ which suggest a $22K-$24K Bitcoin price target in the weeks ahead.
Show Notes / Resources:
🔥 Philip’s DecenTrader Software: https://decentrader.com/
🔥 Follow Philip on Twitter: https://twitter.com/PositiveCrypto
In other trending Bitcoin News today:
Not just Wall Street: Quant Trader Explains Why Bitcoin Price Is Going Up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the BTC price.
The catalysts are increasing adoption, whales, inflows from other products into Bitcoin, and influence from other markets.
Alameda Research is a major cryptocurrency firm that trades a variety of cryptocurrencies and derivatives, with a volume between $600 million and $1.5 billion a day.
Throughout the past month, Cointelegraph has continued to report on the trend of whale accumulation.
Whale clusters form when whales buy Bitcoin and do not immediately sell. This typically indicates that whales bought BTC, sent them to their personal wallets, and have not moved their funds.
The accumulation of Bitcoin from whales possibly synergized with a profit-taking pullback in the altcoin market. Notably, when the decentralized finance market pulled back, Bitcoin continuously saw a significant rally.
Based on various trends and data points, Trabucco said the four abovementioned factors likely contributed to the Bitcoin rally over the past months. He wrote:
“So, first off, why ‘up’? There’s been a lot of discourse about this — some reasons for BTC to go up I’ve seen postulated include lots of institutional buying, increased adoption, ‘whales,’ outflows from faddish products back into BTC, influence from other markets, etc.”
Atop these factors, Cointelegraph reported that the Bitcoin exchange reserves are also declining at a rapid rate.
Bitcoin exchange reserves drop when investors increasingly pull their funds out of exchanges. Since investors often deposit cryptocurrencies to exchanges to sell, this trend suggests that there are fewer sellers in the market and a smaller available supply of BTC.
When positive fundamental and technical factors coincide with an overall drop in selling pressure, it could buoy the momentum around Bitcoin.
According to Trabucco, Joe Biden’s projected victory and the prospect of Moderna and Pfizer vaccines are both positive factors for Bitcoin.
The support for Bitcoin from various tech companies including PayPal, banks, politicians, high-net-worth investors and billionaires are all likely pushing up the BTC price, the trader argues. He wrote:
“My take would be: eh probably a combination. I do think that Biden’s victory and the vaccines were net good for e.g. SPY which has both short- and long-term correlation to BTC in the COVID era, which contributed.
And there are also legit a lot of traditional companies / entities — banks, hedge funds, random rich people, thought leaders, tech companies, Wyoming senators, etc. — signaling support for BTC, which both directly (buying) and indirectly (sentiment) influences its price up.”
In the near term, the roadblock for Bitcoin remains the $18,500 resistance area. Above it, there is little resistance until a new all-time high, after which BTC would enter the uncharted waters of price discovery.
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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.
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TOP NEW YORK EXECUTIVE SEES BITCOIN AT $150K BY END OF THIS YEAR!! SUPER BULLISH BTC PREDICTIONS!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
There is nothing stopping Bitcoin from attempting to become a six-figure asset, the Magnetic managing director William E. Quigley professed in an interview with CNN Business.
The New York-based senior executive listed a string of reasons behind his bullishness on Bitcoin, the world’s leading decentralized cryptocurrency whose rates surged from as low as $3,858 just shy of $58,500 in the previous 12 months.
They included Bitcoin’s scarcity and growing demand among mainstream corporate houses that look for alternative store-of-value assets for their balance sheets.
A pre-embedded algorithm within the Bitcoin blockchain’s source code reduces its supply rate by half every four years or after every 210,000 block—an event known as “halving.” Meanwhile, there can only be 21 million BTC tokens in existence, making the cryptocurrency scarce, making it more valuable in the long-term if the demand for it rises.
Bitcoin has had three halvings in the past. The November 2012 and June 2016 supply cuts saw the BTC/USD rates jumping from about $12 to nearly $1,150 and $650 to almost $20,000.
Meanwhile, the third halving—that took place in May 2020—has followed up with up to 558 percent rise so far. It prompted Mr. Quigley to see a bullish fractal.
“We are about halfway through the post-halving bull run,” the executive noted. “So, by my judgment, we have a lot more to go with Bitcoin. Certainly a hundred thousand and quite possible a $150,000 by the end of this year to maybe Q1 next year.”
BITCOIN DEMAND GROWS
That explains why even corporates have started embracing the flagship cryptocurrency as an alternative to cash. Tesla, the world’s leading electric carmaker, revealed in February that it added $1.5 billion worth of bitcoin in its balance sheet, noting that it would also start accepting the cryptocurrency for its services and products.
MasterCard, a credit card giant, announced that it would integrate crypto tools into its services in the same month. Bank of New York Mellon, the US’s first banking firm, joined the ranks by announcing that it would offer bitcoin custodianship via the same platform that its clients use for traditional securities and cash.
“The latest survey I saw showed that 5 percent of the public-traded companies in the US would consider adding Bitcoin to their balance sheets,” said Mr. Quigley. “And the reason they are thinking that is that corporates have trillions of dollars in cash—and where do they put it? There are government bonds but $17 trillion of them yield negative returns.”
In other trending Bitcoin News today:
Experts Divided on BTC Predictions: Bullish or Super Bullish?
Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.
On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.
“Grayscale Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Today is the two year anniversary of my #Bitcoin Halving Reward Era Price analysis chart.It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin.
I still trust it.$BTC will hit $200K+ this cycle. pic.twitter.com/jwUcOpHeXC
— K A L E O (@CryptoKaleo) February 13, 2021
Bitcoin is more likely to hit $1,000,000 than $0.
— Dan Held (@danheld) March 4, 2021
https://bitcoinist.com/top-new-york-executive-sees-bitcoin-price-at-150000-by-q1-2022/
https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish
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