💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Global payments giant PayPal disclosed on Friday that its customers in the United Kingdom can now buy, sell, and hold multiple cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), directly from their accounts.
“We are delighted to share that all eligible customers in the UK can now buy, hold, and sell Cryptocurrencies Bitcoin, Ethereum, BitcoinCash & Litecoin from their PayPal accounts. Look out for it in the PayPal app,” the announcement reads.
In other trending Bitcoin News today: Ethereum eyes $6.5K bullish target as ETH price chart paints ‘cup and handle’!
The success rate for cup-and-handle patterns in forex and stock markets, on daily timeframes, are 65% and 68%, respectively, per a Harvard study.
Ethereum blockchain’s native asset, Ether (ETH), faces the prospect of exploding toward $6,500 in the coming sessions.
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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://cryptopotato.com/paypals-u-k-customers-can-now-buy-sell-and-hold-bitcoin/
https://cointelegraph.com/news/satoshi-nakamoto-statue-goes-up-in-budapest
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ASSET GIANT FIDELITY VALIDATES BITCOIN MODEL THAT PREDICTS BTC PRICE RISE TO ASSET GIANT FIDELITY VALIDATES BITCOIN MODEL THAT PREDICTS BTC PRICE RISE TO $1,000,000!!,000,000!!
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The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.
A recent report from Fidelity Digital Assets analyzes the BTC stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.
Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that the BTC price will soar to $1 million by 2029.
Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets.
The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.
“Commodities with a stock that is difficult to double due to a low rate of production relative to existing supply have historically served as superior stores of value.
Such commodities are largely used for investment purposes, and occasionally industrial uses.
On the other hand, consumable commodities that are susceptible to large increases in supply, are less effective in storing value.
In the Bitcoin Standard, Saifedean Ammous adapted stock-to-flow to compare bitcoin to commodities used for investment and consumption and the use of the metric has since expanded and even given rise to models based on the ratio.
Gold, the most resilient store of value through the ages, has the highest stock-to-flow ratio, followed by Bitcoin (today) and silver.
Following the recent halving (May 2020), the gap between the gold and Bitcoin ratio compressed.
Bitcoin’s stock-to-flow will eclipse that of gold following the next halving (2024).”
Grayscale echoes Fidelity’s assessment that commodities with high S2F ratios are typically sought after by investors.
The investment giant looks at Bitcoin to illustrate the positive correlation between an asset’s price and its S2F ratio.
“Commodities with high stock-to-flow ratios such as Bitcoin, gold, and silver have historically been utilized as stores of value.”
However, Grayscale cautions that the S2F price model does not guarantee an increase in the asset’s value.
“While it’s true that price has followed this stock-to-flow model with high correlation, the relationship may be spurious and does not take into account the requisite demand for price appreciation.”
In other trending Bitcoin News today:
BLOOMBERG PREDICTS GOLD AT $3K, BITCOIN AT $20K IN CURRENT BULL RUN!
A bullish comment on gold by a top Bloomberg Intelligence analyst could leave Bitcoin in a similar upside spell.
“Central banks essentially printing money to spur inflation is a solid foundation for the benchmark store of value,” McGlone said.
“Gold bottomed at about $700 in 2008 and peaked near $1,900 in 2011. A similar-velocity 2.7x advance from this year’s low-close near $1,470 would approach $4,000 by 2023.”
The analyst said in its June update that the cryptocurrency could hit $20,000 by the end of this year, citing increasingly favorable fundamental and technical factors.
They included its maturity as an asset, followed by its rising futures open interest and more buy-and-hold strategy among institutional investors.
“Bitcoin ended 2019 at about $7,000, near the bottom of its range, favoring a shift toward the peak. Last year, the high was about $14,000, which would translate into almost double in 2020 if rotating within the recent band,” Mr. McGlone explained.
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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 Asymmetric ReturnLast 10 years (2011-2020):– 2 years negative return (2014, 2018)– 3 years [+25% -> +100%] return (2015, 2019, 2020)
– 5 years >100% return (of which 3 yrs >1000% return!) pic.twitter.com/WFatEzbG5Z
— PlanB (@100trillionUSD) August 26, 2020
The Fed, under the leadership of Jerome Powell, continues to be #Bitcoin‘s biggest booster. On Thursday, he will deliver a speech about how the Fed will begin targeting higher inflation. 🧙♂️🙏🚀https://t.co/MUXB2MRTp3
— Tyler Winklevoss (@tylerwinklevoss) August 25, 2020
Bloomberg Predicts Gold at $3K, Bitcoin at $20K in Current Bull Run
https://cointelegraph.com/news/tyler-winklevoss-says-us-fed-is-the-biggest-booster-of-bitcoin-price
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BICOIN PRICE TARGETING 5,000 BY AUGUST OF NEXT YEAR!! BTC EYES NEW 2020 HIGH!!
➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Crypto Titan Dan Moorehead, the CEO of Pantera Capital remains bullish on the Bitcoin price, which he notes BTC goes up, on average, a little more than 200% per year, despite the “manic” bull and bear runs that grab the headlines.
Based on his firm’s stock-to-flow analysis of previous halvings, Morehead says Bitcoin is projected to hit $115,000 by next August.
While he cautions that he wouldn’t necessarily take even odds on BTC actually surpassing that figure in 12 months, he does say it’s “definitely pretty possible.”
The CEO is more confident Bitcoin will crack $100,000 in two years’ time, comparing it to an early-stage venture investment opportunity that only looks different because it has real-time pricing.
Still, he warns investors to put in only as much capital into BTC as they can afford to lose and then “hold it for 10-15 years.”
In a new interview with Thinking Crypto, Dan Morehead says the company’s largest allocation is in Bitcoin, followed by Ethereum.
After that, Morehead lists Polkadot, Filecoin, Augur and 0x as other altcoins with large allocations at the firm.
In total, Pantera manages $600 million worth of assets in the crypto space, and the CEO says he personally invests in the firm’s capital funds.
He believes there is an inefficiency in the market that fails to completely price in the impact of Bitcoin’s halvings before they happen.
“Over the past two halvings, there have been very clear positive impulses. They start about a year and a quarter prior to the halving and they go for about 440 days after the halving. And what’s typically happened is the markets have gone up a bit into the halving, and then after the halving, over the next 440 days, they go up a ton.”
Morehead says the crypto market is benefiting from significant changes in custody offerings, which offer institutional investors more ways to safely store their assets.
In other trending Bitcoin News today:
Chainlink Rival Band Protocol Surged 65% Overnight – 3 Reasons Why
Band Protocol (BAND), a rival blockchain network to Chainlink (LINK) — which is also at an all-time high — surged by 65%. Within 24 hours, BAND rose from $4.825 to $8, setting a new record high.
Three major catalysts appear to have triggered the rally of BAND, namely the DeFi (decentralized finance) boom, Coinbase listing and new partnerships. Since June 1, the total value locked in DeFi protocols increased from $1.04 billion to $4.47 billion.
The valuations of DeFi-related project tokens has risen substantially as the capital involved in the DeFi space surged by more than four-fold.
Band Protocol, like Chainlink, is a blockchain network for oracles. DeFi protocols rely on oracles to retrieve market data, as they cannot access raw data from other blockchains or websites.
As such, oracles are critical to the success of DeFi applications. As the DeFi market is rapidly expanding, the demand for oracles is also increasing in tandem.
DeFi projects technically could make their own oracles but it requires time and resources to develop them. That is where oracles like Band Protocol and Chainlink come in.
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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/chainlink-rival-band-protocol-surged-65-overnight-3-reasons-why
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ENORMOUS INSTITUTIONAL WALL OF MONEY WILL PUSH BITCOIN (BTC) TO ENORMOUS INSTITUTIONAL WALL OF MONEY WILL PUSH BITCOIN (BTC) TO $1 MILLION , SAYS MACRO STRATEGIST! MILLION , SAYS MACRO STRATEGIST!!
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Raoul Pal, the founder and CEO of Global Macro Investor who has more than 50% of his capital in Bitcoin, is anticipating a wave of institutional funds to push the BTC price to $1,000,000 in the next 5 years.
In an interview with Stansberry Research, the former hedge fund manager says that the world economy is moving from the “hope phase” to the “insolvency phase” as investors realize that the economy is going to recover from the COVID-19 pandemic much slower than originally expected.
Along with institutional adoption, he believes this narrative may create the perfect set-up for a huge long-term BTC bull cycle.
“…There’s no stimulus around, and we’ve got more problems to come in Europe, the US and elsewhere, and businesses don’t have enough cash flow. They’re closing in droves and that’s what I call the ‘Insolvency Phase’…
“Yeah, I think [$1 million is] about right. Just from what I know from all of the institutions and all of the people I speak to, there is an enormous wall of money coming into this. It’s an enormous wall of money. Just the pipes aren’t there to allow people to do it yet, and that’s coming, but it’s on everybody’s radar screen and there’s a lot of smart people working on it.”
Though Pal considers himself a “hybrid adopter” of both gold and Bitcoin, he still says that he’s considering selling his gold to buy more Bitcoin.
“When you get to the macro opportunity, when it’s all happening and Bitcoin starts breaking out of these patterns that its been forming, it is going to massively outperform gold. I am 100% sure of that, so in which case, why would I have a gold allocation?”
In other trending Bitcoin News today:
ANALYST: BREAKING THIS ONE LEVEL COULD SEND BITCOIN TO $14,000+
Bitcoin and the entire crypto market have been caught in the throes of a consolidation phase in the time following BTC’s surge from $10,600 to $11,400.
This move was significant and seemed to indicate a trend reversal working in favor of buyers.
BTC’s momentum has slowed, but this may mark bulls’ attempt to garner enough support to spark a continuation of this uptrend.
One analyst is now noting that a move past $14,000 could be imminent in the near-term if the crypto can surmount $11,600.
Bitcoin has remained strong despite bears attempting to thwart its uptrend. It is currently trading up nearly $1,000 from where it was just over a week ago.
This strength may extend further, as its ongoing consolidation phase does appear to be shifting the cryptocurrency’s trend and positioning it for further upside.
Despite Bitcoin’s slowing momentum as it hovers around $11,400, one analyst believes that it is on the cusp of potentially seeing significantly further gains in the days and weeks ahead.
He notes that it all depends on how BTC reacts to $11,600, a key near-term resistance level to observe.
“BTC: If $11,600 gets flipped I see a clean $14k+… Until then I think we reject/range around $11,600 and dump lower,” the analyst said while pointing to the below chart.
Because this level sits less than 2% above where Bitcoin is currently trading, a test of it could be right around the corner.
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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:
Analyst: Breaking This One Level Could Send Bitcoin to $14,000+
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