BITCOIN CAN SEE HUGE GAINS IN SIX MONTHS, SAYS PLANB – HERE’S HOW HIGH BTC PRICE CAN SOAR!!

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The Bitcoin price is primed for average gains of almost 200% over the next six months, one of its best-known supporters has told mainstream media.

Speaking to Yahoo! Finance on Feb. 4, Tom Lee, co-founder at Fundstrat Global Advisors, said one bullish technical factor, in particular, made him “really optimistic” about the BTC price short-term potential.

“Notably in January – January is usually a week month, it was a great month for Bitcoin, up 26% – but it also recovered its 200-day moving average,” Lee explained. 

“That’s a big deal as you know, as anyone who’s a trend follower knows – when you’re back above your 200-day, you’re back in a bull market. Whenever Bitcoin breaks back into its 200-day, its average six-month gain is 197%.” – Tom Lee

Crypto CEO: Bitcoin Will Hit Record High of $30,000 in 2020 for This Reason

The Bitcoin halving plus geopolitical demand drivers may push Bitcoin (BTC) above its previous all-time high in 2020.

The CEO of the crypto asset startup Celcius believes that the combination of the two could see the leading digital asset reach as high as $30,000 before the end of this year.

Alex Mashinsky believes that most people underestimate the impact the halving this spring will have on the Bitcoin price.

The increasingly entrenched “store-of-value” narrative in an increasingly unstable world may drive the price up sooner than most people think.

Mashinsky says that most people are underestimating the impact of the halving. He takes the popular opinion that global political uncertainty makes the leading crypto asset increasingly popular.

Calling Bitcoin “the doomsday insurance”, he states: “I think that Bitcoin ends the year with a new high. I estimated $30,000 but it’s going to be somewhere between $20,000 and $30,000.”

Mashinsky also comments that a bullish Bitcoin will likely drive the rest of the industry up too.

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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:

Highlight: “We’re really optimistic on crypto and bitcoin this year,” @fundstrat’s Global Advisors Managing Partner & Head of Research Tom Lee says. “Whenever bitcoin breaks back into its 200 day, its average six-month gain is 197%.” pic.twitter.com/2tqzsuOV0m

— Yahoo Finance (@YahooFinance) February 4, 2020

Crypto CEO: Bitcoin Will Hit Record High of $30,000 in 2020 for This Reason

https://cointelegraph.com/news/bitcoin-price-may-hit-27k-all-time-high-by-summer-predicts-tom-lee

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High-profile crypto strategist Peter Brandt says Bitcoin appears to be setting up for a big move that will propel the BTC price to a new all-time high.

The veteran trader tells his 364,000 Twitter followers that he sees Bitcoin ending its multi-year bear market en route to a surge of 400%.

“That is actually where my head is. Massive symmetrical triangle in BTC points to ATHs, then $50k”

The top cryptocurrency briefly climbed above psychological resistance of $10,000 on Sunday.

Brandt also sees the possibility of a long-awaited breakout for XRP.

“XRP/BTC forming a possible inverted H&S bottom. Maybe Ripple Labs, the bag holder, will be able to pull a cat out of the bag.”

Another closely-followed crypto analyst who goes by the name The Crypto Dog tells his 203,000 Twitter followers that he believes the XRP/BTC pair is on the cusp of a new uptrend.

“This is literally the very beginning for XRP. Let it ride.”

In other trending Bitcoin News today:

Ethereum Price Hits 2020 High: Key Reasons Why ETH Outperforms Others

The price of Ethereum (ETH) has reached a new yearly high at $322, surpassing the previous high achieved in February 2020.

Three key catalysts are seemingly behind the ETH rally. Since early 2020, the anticipation of Ethereum 2.0, which would enable staking for users, pushed the demand for ETH upward.

Staking allows users to receive incentives when miners are eliminated from the Ethereum network.

A proof-of-stake consensus algorithm does not need miners on the protocol.

Instead, users with a stake in ETH collectively process data and information through staking.

In return, they receive rewards in the form of ETH.

After the so-called “Black Thursday” correction on March 13, when ETH briefly dropped below $90, the DeFi market began to expand rapidly.

When new protocols, like Compound, introduced their incentive systems, the demand for decentralized finance increased even further.

In May, less than $1 billion was locked in DeFi platforms. As of July 26, more than $3.75 billion is locked across various DeFi protocols.

The optimism around DeFi and Ethereum 2.0 eventually led to Ether spot and options markets setting record high volume and open interest.

Since the start of the second quarter, the ETH options market has continuously soared to new highs in terms of trading activity.

Consequently, it intensified the uptrend of ETH in a short period. Cryptocurrency on-chain market data analysis firm Santiment said ETH broke out of $300 for the 42nd time in history.

An upsurge above $350 would be significant, according to researchers, because it has only happened three times in the past. Santiment stated in a tweet:

“It’s clear that Ethereum is sitting in its ‘sweet spot’ where the most polarization has historically unfolded (between the $200 and $300 levels) during its five year history.”

Based on the technical market structure of Ether, some traders said that $308 and $400 remain as the key short-term resistance levels.

Michaël van de Poppe, a Cointelegraph contributor and a full-time trader at the Amsterdam Stock Exchange, said in a tweet that ETH has increased higher than expected:

“Going a little higher than the plan initially was, a month ago. But we’re doing fine. Might be on the resistance at the $308 level. But that’s basically final hurdle before $400+, to me.”

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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:

That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k

— Peter Brandt (@PeterLBrandt) July 25, 2020

https://www.coindesk.com/research/reports/ethereum-2-0-how-it-works-and-why-it-matters

https://cointelegraph.com/news/ether-price-hits-2020-high-key-reasons-why-eth-outperforms-others

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Goldman Sachs just wrapped up a highly anticipated investor call that focused, in part, on its outlook for Bitcoin (BTC).

The investing giant is not impressed with increasing institutional investments in cryptocurrency and says the digital assets do not “constitute a viable investment rationale.”

Goldman says BTC is not an asset class because it can’t create a cash flow, as bonds do. According to the analysts, the world’s leading cryptocurrency has a number of other factors working against it: it does not generate earnings through exposure to economic growth; it has not proved itself to be a reliable hedge against inflation; and it has been used to facilitate money laundering and purchases on the dark web.

Billionaire Bitcoin entrepreneurs and co-founders of the crypto exchange Gemini quickly responded.

Tyler Winklevoss says Goldman may not have the moral high ground when it comes to the illicit use of capital.

“Goldman Sachs: In 2019, $2.8 billion in Bitcoin was sent to currency exchanges from criminal entities. Fun Fact: Goldman Sachs facilitated $6 billion in money laundering via 1MDB scandal between 2012-13. Double standard much?”

According to a report published last year by the United Nations Office on Drugs and Crime, banks carry the torch for the money laundering industry.

Cameron Winklevoss also points to Bitcoin’s official status as a commodity, implying its researchers need to get with the times.

“Hey Goldman Sachs, 2014 just called and asked for their talking points back. Bitcoin was declared a commodity by the CFTC in 2015 in the Coinflip order…so yea it’s an asset whose price is set by supply and demand. Just like gold. Just like oil. It’s a commodity.”

The Winklevoss twins, who are strong advocates for a smart global regulatory framework for blockchain and crypto technology, did not stop there.

Here are a few additional hot takes from their ongoing tweetstorm.

“Goldman Sachs: We do not recommend bitcoin on a strategic or tactical basis for clients’ investment portfolios… Google Translate: We don’t want our clients to buy bitcoin and realize they don’t need us anymore.”

“Paul Tudor Jones isn’t waiting around for approval from the establishment to buy bitcoin. And neither should you. Do your own research, build your own conviction, avoid groupthink.”

“Goldman Sachs aka Bankers aka Wall Street still don’t get (or want to get) Bitcoin. It’s ok, because everyone else does.”

“Bitcoin does “not generate cash flow like bonds.” Because it’s not a bond. And the sky is blue.”

Goldman’s report also addresses the economy as a whole, saying global markets have hit a bottom and have not entered into a depression.

However, the firm’s analysts say “significant uncertainty” on the path to recovery remain, centered on the question of whether people who have been laid off will be able to get their jobs back.

In other trending Bitcoin News today:

Crucial Fundamental Data Shows Bitcoin Will Break Out of $10,500

Resistance Analyst Nunya Bizniz recently noted that Bitcoin is currently trading below a crucial resistance level at $9,200.

The technical level he indicated marked three previous highs, one in July, one in August, and one in February of this year.

“The VWAP anchored to June 26th high has been formidable resistance. Flirting with it again. Note: All breaks above the AVWAP have always resulted in lower highs. A close above $9,944 would change that,” the analyst commented.

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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:

Goldman Sachs: In 2019, $2.8 billion in Bitcoin was sent to currency exchanges from criminal entities.Fun Fact: Goldman Sachs facilitated $6 billion in money laundering via 1MDB scandal between 2012-13.

Double standard much?

— Tyler Winklevoss (@tylerwinklevoss) May 27, 2020

Goldman Sachs is a large organization with many different divisions. The Wealth Management division’s opinion on Bitcoin & Crypto doesn’t necessarily reflect the company’s view pic.twitter.com/PpmYrRLkAy

— Ethan Vera (@ethan_vera) May 27, 2020

Crucial Fundamental Data Shows Bitcoin Will Break Out of $10,500 Resistance