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With range-bound movements for the past ten days or so, Bitcoin is readying for another BIG leg up or down. The chart patterns are showing a pennant formation that will eventually come to a conclusion resulting in a larger move.
Macroeconomics analyst and long-term BTC investor Madelon Vos commented that a huge breakout is very plausible. “Combined with positive divergence on RSI and a symmetrical triangle having a possible breakout of $10.000… a very plausible scenario. We could end up around $48 or $25k the next couple of weeks.”
In other trending Bitcoin News today: BTC bull Max Keiser, RT host of the Keiser Report and Orange Pill Podcast just made another bold prediction that the Bitcoin price will climb $25,000+ in the next 24 hours: “I’m trying to stage a new Bitcoin ATH the moment I step on stage Friday at
The Bitcoin Conference.”
Max also says that, “Central banks have lost control. It was inevitable. You can’t print forever. All fiat money has been in a hyperinflationary collapse against Bitcoin for years. BTC is the pin, not the bubble.”
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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/bitcoin-breakout-imminent-chart-patterns-suggest-institutional-buying/
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BITCOIN (BTC) SCALES JUST FINE AS STORE OF VALUE!! MICROSTRATEGY DECLARES WAR ON THE FED: MAX KEISER
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Bitcoin Bull Max Keiser Believes Shareholders Will Demand Corporations to Grab BTC Following Microstrategy’s $425M Acquisition.
Keiser stated that now shareholders of other big companies and corporations are going to demand to convert their cash reserves into Bitcoin as Tahini’s pro-Bitcoin restaurant chain has already begun to do.
The Nasdaq-traded business software producer Microstrategy amazed the crypto community by placing more if its cash into Bitcoin.
Back then, its CEO Michael Saylor tweeted that the company had acquired 16,796 Bitcoin for $175,000,000.
That was the second purchase of BTC by this company.
The first acquisition took place on Aug. 11, when Microstrategy acquired 21,454 BTC for a whopping $250,000,000, making headlines in crypto and mainstream media.
Bitcoin proponent Max Keiser tweeted that now shareholders will demand that corporations start acquiring Bitcoin with their spare cash.
$MSTR declares war on the Fed, Who will join them? *Every* CFO/CEO, per statues of corporate governance, is now obligated to examine their own “melting ice cube” Shareholders will now *DEMAND* they deploy idle cash to Bitcoin. Michael Saylor is a board room revolutionary”
He was, in fact, commenting on a tweet thread posted by the Canadian restaurant chain Tahini’s, which has recently converted all of its cash reserves to Bitcoin.
On Aug. 19, the Tahini’s franchise acquired BTC using all of its spare cash reserves down to the last dollar.
The CEO Omar Hamam tweeted that, despite difficulties after the lockdown and many of his staffers deciding not to go back to work (as they received stimulus checks), he decided that the stimulus cash he received from the government would no longer be a secure investment.
So he started educating himself on blockchain and Bitcoin and then decided to convert all of his company’s cash reserves in BTC.
In other trending Bitcoin News today:
MicroStrategy CEO Says ‘Bitcoin Scales Just Fine As Store Of Value’
Bitcoin (BTC) as a store of value “scales just fine,” the CEO of the company that just purchased 38,250 BTC has said.
In a tweet on Sep. 17, Michael Saylor revealed more information about MicroStrategy’s dramatic launch into Bitcoin.
“We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions. Bitcoin scales just fine as a store of value.”
Continuing, Saylor described a status quo where on-chain transactions for major investors will remain a rarity:
“If Bitcoin is treated as a treasury reserve asset, based on our model, 99.98% of all transactions will be off-chain, and assets-at-risk will be in cold storage 99.92% of the time.”
Off-chain transactions via solutions such as the Lightning Network allow Bitcoin transaction volume to increase without adding volume to the blockchain and raising fees to appeal to miners.
In his popular book, The Bitcoin Standard, Saifedean Ammous likewise argues that off-chain activity will become the norm once Bitcoin gains a much larger user base.
That could happen sooner rather than later.
Following the Pompliano interview, statistician Willy Woo picked up on Saylor highlighting the world’s 35,000 publicly traded companies that have spare cash reserves of $5 trillion.
“I make out if others follow MicroStrategy’s lead and even just 1% of that capital finds its way into BTC, that’s enough to blow Bitcoin cap to $2T,” he tweeted.
Woo added that given MicroStrategy took six months to approve its shift to Bitcoin, any copycat moves would begin to surface in 2021.
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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:
Some takeaways from @APompliano‘s interview with @michael_saylor, CEO of MicroStrategy, after their 38,250 BTC buy ($425m).Plot goes: “I’m a good thinker and a large financial player, this what I found researching Bitcoin coming from outside of the industry”Read on…
👇
— Willy Woo (@woonomic) September 18, 2020
Why did $425M MSTR buy not move #bitcoin price up? Because they bought carefully, thousands of small incognito algo orders over a period of weeks. Key thing: $425M is transferred from weak hands (shitcoiners, traders, noobs) to strong hands (hodl): reducing future sell pressure🚀 pic.twitter.com/bBJsAFj6iy
— PlanB (@100trillionUSD) September 17, 2020
What are the odds … that other cash-rich companies like Google, Apple, Microsoft will not get serious questions about #bitcoin at the next shareholder meeting, or even get sued for breaching their fiduciary obligation for not buying bitcoin and letting all that cash melt away? pic.twitter.com/QY1C0NbMjG
— PlanB (@100trillionUSD) September 17, 2020
Technicals Suggest Bitcoin Looks Ready For Another Leg Higher Over $11K
https://cointelegraph.com/news/microstrategy-ceo-says-bitcoin-scales-just-fine-as-store-of-value
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BLOOMBERG ANALYST PREDICTS BITCOIN SHOOTING TO K TARGET RESISTANCE AND #post_titleT MARKET CAP IN 2021!!
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Bloomberg Intelligence senior commodity strategist Mike McGlone says he expects the big Bitcoin rally to continue in 2021.
In a new December outlook on BTC, McGlone says Bitcoin’s new line of resistance in 2021 will likely be at the $50,000 mark.
“Bitcoin will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance, implying about a $1 trillion market cap. The $10,000 mark has shifted to a critical support level after serving as the crypto’s resistance mark since 2017.”
The report says Bitcoin is “far from overheated,” noting its foundation of support may be greater than back in 2015 through 2017 due to increasing institutional investments and a drop in new supply due to this year’s halving.
“The year 2020 will likely be looked back upon as key to Bitcoin’s mainstream evolution, in our view. Strong inflows in regulated exchange-traded products, futures open interest, addresses used and allocations from corporate treasuries, and some billionaires, solidify the 2020 annual price of about $10,000 as foundation support…
Demand measures of Bitcoin and crypto assets appear to be gaining endurance for more of the same in 2021. From the Office of the Comptroller of the Currency (OCC) allowing banks to provide crypto-asset custody services to PayPal onboarding payments, clearing 2020’s volatility hurdle likely widens the path toward mainstream adoption.”
McGlone says the macro economy will also continue to serve as a headwind fueling both BTC and gold in the new year.
“The digital newcomer and old guard quasi-currencies stand to be primary beneficiaries of unparalleled quantitative easing, rising debt-to-GDP and an increasing focus on modern money theory.”
In other trending Bitcoin News today:
CEO of $7.4 Trillion Asset Manager BlackRock Says Bitcoin Could Evolve Into Global Market Asset
Larry Fink, CEO of the world’s largest money management firm, BlackRock, appears to be changing his once highly skeptical tune on Bitcoin and cryptocurrency.
Speaking to former Bank of England governor Mark Carney at the Council on Foreign Relations, Fink said BTC may be on a path toward evolving into a global asset.
“Bitcoin has caught the attention and the imagination of many people. Many people are fascinated by it. Many are excited about it. But it’s still untested, it’s still a pretty small market relative to other markets. We see these big, giant movements every day… it’s a thin market.
So, can it evolve into a global market? Possibly. Certainly by evidence of the imaginations of so many who want to learn about it or are interested in it, to me, is a very telling sign.”
Fink also says the advent of digital currencies could weaken the status of the US dollar as a reserve currency for non-Americans.
“Having a digital currency has a real impact on the US dollar because having a digital currency makes the need for the US dollar less relevant for international holders of dollar-based assets. Does it change the need for a dollar reserve currency if there was a true digital currency that was separated from dollar-based assets?”
In late November, BlackRock chief investment officer Rick Rieder also made a bullish case for Bitcoin, saying that the digital asset is here to stay and is well on its way to replacing gold as a primary store of value.
“Do I think it will take the place of gold to a large extent? Yeah, I do because it’s so much more functional than passing a bar of gold around.”
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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 stock-to-flow cross asset model-if BTC doesn’t break it’s historical path-BTC market cap will approach gold market value $5-10T in 2021-2024-and approach real estate market value $10-100T in 2024-2028
-after 2028 we can no longer interpolate and enter uncharted waters pic.twitter.com/DGf6T87Tdf
— PlanB (@100trillionUSD) December 4, 2020
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BITCOIN (BTC) FUND MANAGER: Crypto Could Soon Rally 4,000% To A Trillion Market Cap
➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net
Bitcoin (BTC) and other top crypto assets are trading far from their all-time highs.
According to data from TradingView, BTC is trading more than 50% below its all-time high, while Ethereum is down nearly 85%.
Most altcoins have registered even worst performances than the two market leaders, crushed as large players cashed out of the market during the 2017/2018 bubble.
Yet this hasn’t stopped investors from speculating where this nascent market could end up once the next market cycle peaks.
CRYPTO COULD HIT $10 TRILLION AS RETAIL MONEY FLOODS IN
According to Joseph Todaro — managing partner of crypto-centric fund Blocktown Capital — the crypto market’s capitalization could reach over $10 trillion in the next cycle as “retail money really starts flowing back in.”
$10 trillion is approximately 4,000% higher than the current aggregate value of digital assets at around $270 billion.
“When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top”
In context, $10 trillion is a fair sum of value in the grand scheme of things.
Blockforce Capital chief executive Eric Ervin shared the chart below on June 9th, showing that the total market capitalization of the S&P 500 is $27.8 trillion.
At $10 trillion, crypto would be just over one-third of the current value of some of the most valuable companies in the world, including Apple, Microsoft, Facebook, and Amazon. $10 trillion is also around 50% of the U.S.’s national GDP in 2019 or around 10-12% of the global GDP.
Importantly, though, just because crypto’s market cap may reach $10 trillion may not mean that $10 trillion greenbacks have been deposited into Bitcoin exchanges.
Due to what is known as a fiat amplifier, which means that $1 worth of Bitcoin purchased may push up its market cap by more than $1, a $10 trillion industry may not be as hard to achieve as some may expect.
The expectation is that all cryptocurrencies will rally in the upcoming market cycle, but prominent names in the space expect the gains to be concentrated in Bitcoin.
Raoul Pal, chief executive of Real Vision and a former Goldman Sachs executive, has spoken on the matter on a number of occasions.
The investment veteran has said that he sees a world of cryptocurrency and blockchain as the future, but sees Bitcoin as the “call option” on that potential world coming to fruition.
That’s to say, if cryptocurrencies go mainstream, BTC will likely be the one leading the charge.
In other trending Bitcoin News today:
Bombshell Report Shows 36% of Institutional Investors Already Own Crypto Assets Such As Bitcoin and Ethereum
A new survey from the global asset management giant Fidelity shows 36% of institutional investors already own crypto assets.
Four out of five investors who are not yet in the market say they’re interested in holding cryptocurrency in the future and find at least one aspect of the emerging technology appealing.
“Almost 80% of institutional investors find something appealing about digital assets, with the three almost equally compelling characteristics across U.S. and European investors being: uncorrelated to other asset classes (36%); an innovative technology play (34%); and high potential upside (33%).”
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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:
When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top
— Joseph Todaro (@JosephTodaro_) June 10, 2020
Fund Manager: Crypto Could Soon Rally 4,000% to a $10 Trillion Market Cap
https://cointelegraph.com/news/report-less-than-6-accounts-control-80-of-wealth-on-top-stablecoins
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