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CryptoQuant CEO Ki Young Ju is naming one catalyst that he says could send the Bitcoin price into the stratosphere.
“NYSE (New York Stock Exchange) listed the first gold ETF in Nov 2004, and the price never came back. Many economic factors have affected the gold price, but listing ETF would have played a major role in the inflow of global institutional funds. We may never see this BTC price again once ETF’s approved.”
In other trending Bitcoin News today: 3 Reasons Why Bitcoin Doesn’t Care About Elon Musk! Tempers are running hot in the latest round of Bitcoin FUD, but a longer-term perspective reveals “business as usual” for BTC. Bitcoin dived 17% when Tesla CEO Elon Musk criticized its energy consumption – but it’s already bouncing back.
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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/3-reasons-why-bitcoin-doesn-t-care-about-elon-musk
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UPDATE: BITCOIN CAN HIT $450K IN 2021, BEST AND WORST-CASE BTC SCENARIOS REVEALED BY S2F CREATOR!!!!
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The only way is up for the Bitcoin price action, analyst PlanB insists, offering a potential 2021 high of $450,000 per BTC, while $135,000 would be the “worst-case scenario”.
“Wait until you seen my base case and best case scenarios! OK, a hint: best case Dec $450K,” he added in comments about what Bitcoin could be capable of in 2021 which he originally shared 3 months ago on June 20th, and now 3 months later he just updated us with the following:
“In June I sketched the rough path of how bitcoin could go towards its s2f target of $100K in Dec. Just confirming we are still on that path IMO.”
In other trending Bitcoin News today: Commodity strategist predicts Bitcoin ETF could get the nod in US next month!
A Bitcoin ETF could be approved by U.S. regulators by October. according to Bloomberg Intelligence Commodity Strategist Mike McGlone.
When asked about a timeframe on potential U.S. Bitcoin ETF approval, McGlone said it could happen “potentially by the end of October.” He maintained that it was likely to be a futures-backed product first, adding that it would open a “legitimization window for a massive amount of money inflow.”
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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-can-hit-450k-in-2021-135k-is-worst-case-scenario-planb
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THIS METRIC SHOWS BITCOIN TARGETING 0K SAYS CRYPTO TRADER WHO PREDICTED 2019’s BTC MELTDOWN!!
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The pseudonymous Bitcoin trader who made the accurate call that BTC will fall by over 40% last year is back with another Bitcoin price prediction.
This time, he says Bitcoin may be on a long-term path to $540,000. Dave the Wave relies on a chart shared by on-chain market analyst Willy Woo to illustrate that Bitcoin (BTC) is still in the earliest stage of the adoption life cycle.
“If the current market represents 2.5%, then that would put price at 500K with 100% adoption/ full capitalization. This is the S curve.”
According to Dave, Bitcoin’s growth in terms of market share is just getting started as those buying the number one cryptocurrency over the last 11 years are considered innovators which make up 2.5% of the total addressable market.
Using the S-curve, Dave predicts that Bitcoin’s value will skyrocket to $540,000 as it captures a bigger percentage of the market share in the next decade or so.
While Dave sees the possibility of Bitcoin meteorically rising 4,900% from its current value of $10,800 as extrapolated from the S-curve, the crypto strategist remains a skeptic of the stock-to-flow model (S2F) as he doesn’t expect Bitcoin to hit $100,000 by December 2021.
He says he managed to get a set of criteria from Plan B, the first to apply the S2F model to BTC, that would invalidate the wildly-popular model.
Dave highlights that the criteria are set to keep subscribers from blindly believing in the model.
“Insofar as people can be rational/ civil about the matter [both subscribers and non-subscribers to s2f] then this should be the crucial test. It’s generous enough to s2f price prediction while also holding it to account unless it become a dogma.”
In other trending Bitcoin News today:
Investors Ponder Big Crypto Question in Viral Post – Will Bitcoin Really Reach $100,000?
A new, viral post on Reddit centers on an oft-debated question in the world of crypto – will Bitcoin ever hit $100,000?
This year alone, numerous BTC analysts and traders, as well as top-ranking crypto entrepreneurs, have hinted at the possibility or issued formal predictions that the leading cryptocurrency will reach six figures in value in the next couple of years.
Many Redditors agree with their confidence, calling Bitcoin’s rise to $100,000 as “inevitable” and saying it is “just a question of how much time it’ll take.”
Others still think BTC is at the mercy of whales and will remain too volatile for that kind of sustained growth. Says one Redditor,
“I’ve been a BTC bull since the early days, but also recognize that ownership is concentrated in the hands of a minority early adopters who have good motivation to cash out at the right levels. I think price will remain a cycle of pumps and dumps ranging between $6k and $30k for the next 10 years.”
Others expressed worries about dollar depreciation and pondered “how much $100,000 will buy” at whatever time Bitcoin reaches that value.
Some Redditors predict it will either surpass $100,000 or go bust and plummet to zero, all dependent on adoption.
The list of crypto influencers who say the BTC price will hit six figures includes Pantera Capital founder Dan Morehead; Real Vision CEO and former Goldman Sachs manager Raoul Pal; Morgan Creek Digital co-founder Anthony Pompliano…
Kraken chief executive Jesse Powell; veteran analyst Tone Vays; popular Youtuber Nicholas Merten; Su Zhu, chief executive of fund management firm Three Arrows Capital…
Bitcoin Pioneer Max Keiser; Bitcoin Billionaires, Tim Draper, Chamath Palihapitiya & The Winklevoss Twins; and the pseudonymous strategists Dave the Wave and PlanB among others.
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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:
If the current market represents 2.5%, then that would put price at 500K with 100% adoption/ full capitalization. This is the S curve. https://t.co/ZXj5YNlckp
— dave the wave (@davthewave) September 29, 2020
https://cointelegraph.com/news/bitcoin-price-in-flux-bulls-target-115k-bears-desire-drop-to-98k
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0,000 BITCOIN PRICE IS INEVITABLE THANKS TO A CRITICAL MASS OF LONG TERM BTC HODL’ers!!
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Determining the true Bitcoin value can be more complicated than simply looking at the current BTC market price.
“Most Bitcoins already cost at least $100,000, but probably more like $10 million,” said Michael Goldstein, also known as Bitstein, in an Aug. 17 tweet.
While the Bitcoin price sits around $12,000 at this time, many folks in the crypto industry likely value the asset at a much higher price tag.
If someone buys a BTC at $10,000, but is unwilling to sell it until the asset reaches $100,000, then the price tag of that Bitcoin is naturally much higher than its current market value.
This then begs the question: How many Bitcoin are currently worth $100,000?
At the start of the year, 64% of Bitcoin’s circulating supply had remained in the same wallets since 2018, which seems to suggest that most BTC has a higher valuation than current market prices indicate.
According to Goldstein, many of Bitcoin’s largest bag holders value the asset between $100,000 and $10 million.
These numbers sit in line with a bevy of price predictions from various authorities over the years.
On March 5, 2020, Bitcoiner Max Keiser predicted Bitcoin shooting up to $100,000 in 2020 as fueled by COVID-19 repercussions.
Other notable names across the industry also predicted prices above $100,000 for Bitcoin at some point, including Morgan Creek Digital co-founder Anthony Pompliano, BTC stock-to-flow model creator PlanB, and cryptographer Adam Back, among others.
In other trending Bitcoin News today:
Million-Dollar Bitcoin Whale Says Traders Should Track Two Altcoins in Addition to BTC
An outspoken Bitcoin whale who rarely shows affection for anything other than BTC says two crypto assets have potential.
The pseudonymous trader known as Joe007 says UNUS SED LEO (LEO) may be a solid pick for investors looking to diversify their crypto portfolio.
“In a sane world, extremely low correlation by LEO would make it a desirable diversification instrument when it comes to constructing crypto portfolios. But of course, crypto traders are too busy chasing the latest shitcoin-du-jour pump to even take a notice.”
LEO is an ERC20 utility token that operates on the Ethereum and EOS blockchains.
LEO holders enjoy multiple benefits on the crypto exchange Bitfinex including taker fee reduction, lending fee reduction, and discounts on crypto and fiat deposits and withdrawals.
Joe, who is known for placing large bets on the crypto exchange Bitfinex, says another coin on his list is Binance Coin (BNB).
The trader says the token offers a use case that sets it apart from other crypto assets.
Binance Coin is a utility token issued by crypto exchange Binance. BNB holders get discounts when using the coin to pay for trading fees on Binance and Binance DEX.
Holders can also use BNB to pay for goods and services to select merchants.
Because demand for both BNB and LEO is driven in part by the performance of their respective crypto exchanges, Joe says they have an additional potential use case aside from simply being a digital form of money.
“I wouldn’t consider LEO or BNB shitcoins, actually – as they are not trying to be money (‘coins’) in the first place. If anything, they are equity-like centralized crypto assets.”
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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:
It’s an interesting thought experiment. What is the closest price it would take for you to sell all your bitcoins right now, on the condition you could never own any ever again?
— Senuto Cryon (@senutocryon) August 18, 2020
Most bitcoins already cost at least $100k, but probably more like $10 million.
— Michael Goldstein (@bitstein) August 18, 2020
ICYMI: #bitcoin is nicely moving away from 200 week moving average. 200WMA is currently $6400, is increasing $200 per month, and has never decreased. Best of all, BTC monthly close has never been below 200WMA. pic.twitter.com/c21W1kVDiv
— PlanB 🔴 🔴 🔴 (@100trillionUSD) August 19, 2020
https://cointelegraph.com/news/98-of-all-bitcoin-is-now-worth-more-than-when-you-bought-it
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