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Crypto analyst and YouTuber Tyler Swope believes that prevailing sentiment might drive traders into making a big mistake just before the market makes a huge move.
In a new video, Swope tells his 247,000 subscribers that he believes bears are going to get left behind as Bitcoin gears up for the next leg of its market cycle.
“We are smack-dab in the middle of the bear trap, A.K.A. (also known as) we are still in the awareness phase of this hypercycle.”
In other trending Crypto News today: Crypto analyst Austin Arnold of Altcoin Daily is naming five of the most undervalued altcoins that he says are ripe for opportunities this new month.
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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:
Here Are Five Undervalued Altcoins To Buy in June: Altcoin Daily
Here’s How Bitcoin Millionaires Are Playing the Crypto Market: Santiment
https://cointelegraph.com/news/pre-2019-bitcoins-now-make-up-just-44-of-the-btc-active-supply
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ELON MUSK CONFIRMS TESLA NOW ACCEPTS BITCOIN AS NEW REPORT SAYS BTC SHOULD ‘COMFORTABLY’ HIT $100K!!
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Tesla confirms Bitcoin HODL strategy as new report says BTC shouldn’t have a problem reaching $100,000 during the current bull cycle thanks to impressive behavior from hodlers.
Also breaking BTC news announced today by Elon Musk that Tesla now officially accepts Bitcoin from US customers.
“You can now buy a Tesla with Bitcoin. Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” – Elon Musk
In response, Jason Yanowitz points out on Twitter:
“The ability to buy a Tesla with Bitcoin is not a big deal. Tesla’s decision to NOT convert that Bitcoin into fiat after the sale is a huge deal. This leads the way for thousands of companies to sell products using Bitcoin without ever turning that Bitcoin back into US dollars.”
In their latest newsletter seen by Cointelegraph, analysts from trading suite Decentrader including Cointelegraph Markets contributor filbfilb sought to allay fears that Bitcoin’s bull run is running out of steam.
Backing their optimism, they said, is data showing that more and more investors are hodling BTC for the long term — one year or more.
Taken from the popular “HODL Wave” indicator, this suggests that there is less desire to sell Bitcoin at short notice at a certain price, providing a solid foundation for further growth.
“The 1Yr+ HODL Wave suggests that Bitcoin should comfortably reach the $100,000 level during this cycle,” Decentrader summarized.
“The greater the amount of Bitcoin being held for a year or longer, the less liquid the supply or potential selling pressure there will be. Typically, if 50% or more of Bitcoin is being HODLed the bull market continues, below this is potentially cause for concern.”
HODL Waves tracks the proportion of the existing Bitcoin according to when it was last used in a transaction. Previously, Cointelegraph noted that those who bought BTC during the 2017 bull run had largely held onto their position despite realizing significant gains.
As Cointelegraph reported on Monday, roughly 36% of the circulating Bitcoin supply is currently made up of “younger” coins which have moved at some point in the past six months.
Exchange data further reinforces the pro-hodl mindset among investors, as overall reserves continue to plummet in March despite BTC/USD making a new all-time high.
Even miners appear to be increasingly interested in keeping their BTC rewards, as evidenced by figures from on-chain analytics service Glassnode showing net miner positions turning positive this month. Michael Saylor, CEO of MicroStrategy, described their behavior as “onlyrational.”
According to Bitcointreasuries.org, Tesla currently holds an estimated 48,000 BTC, a number that should grow as people exchange their Bitcoin for the company’s electric vehicles.
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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:
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
Remember, we didn’t choose #Bitcoin, Bitcoin chose us All will have to come to terms with this eventually
The benefits of obliterating fiat money and central banks (with BTC) are enormous. The demonetization of war and violence will have profound, positive impacts on society.
— Max Keiser (@maxkeiser) March 24, 2021
https://cointelegraph.com/news/elon-musk-says-tesla-now-accepts-bitcoin-from-us-customers
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Bitcoin Will Reach 0K After Halving, History Dictates | BTC Price 4,000% Rally Signal Forms Again
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Much of the conversation around predicting the BTC price through 2020 and beyond hinges on the effect of the Bitcoin mining reward halving set to take place in May will have.
Some believe it will have no effect at all, while others are betting big on this.
If history is to be taken into consideration, the Bitcoin price should reach a new high of $400,000 following the event.
Following the first halving in November 2012, Bitcoin’s price increased from a $2.01 bottom to the top of $270.94 – a 13,000 percent increase.
The second halving, in July of 2016, saw Bitcoin (BTC) go from a bottom of $164.01 a top of $20,074 – a similar increase of 12,000 percent.
With this in mind, if Bitcoin moves similarly after May’s halving, investors can expect the price of the coin to reach as high as $400,000.
Other breaking Crypto stories shared in today’s show…
- Bitcoin Price Signal That Preceded 4,000% Rally Forms Again, and It’s Huge for BTC –
- A $50,000 Bitcoin Price; How Likely is a 13-Digit Market Cap?
- Research Firm: 3 Use Cases Could Send Bitcoin To $1 Trillion
- Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin
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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:
How much has #Bitcoin rallied as a result of each of its Halvings to date?Halving 1: +13,378%Halving 2: +12,160%If BTC rallies anything between 12,160 – 13,378% as a result of Halving 3…
Price of one $BTC will be $385,000 – $400,000https://t.co/4StGraQAaQ#Crypto
— Rekt Capital (@rektcapital) January 17, 2020
Research Firm: 3 Use Cases Could Send Bitcoin To $1 Trillion
A $50,000 Bitcoin Price; How Likely is a 13-Digit Market Cap?
https://decrypt.co/16998/confirmed-craig-wright-doesnt-have-keys-to-8-billion-of-bitcoin
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2021 BITCOIN PREDICTIONS FROM TOP INFLUENCERS!! BTC FUTURES OPEN INTEREST HITS NEW ALL-TIME HIGH!!
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What highs (or lows) could Bitcoin reach by the end of the year?
The Stock-to-Flow (S2F) model created by PlanB is one of the most well-known BTC price prediction apparatuses in the Bitcoin space. It forecasts the long-term price trend of Bitcoin by weighing two main factors: the amount of BTC in existence (the stock) versus the amount of newly mined coins entering the market (the flow).
Thus far, the model has been eerily accurate. Bitcoin closed February 26% above the model’s projected price and remains on pace to hit the model’s end-of-year target of $288K. With Bitcoin currently trading at around $56K, it would need to increase over 400% between now and December.
Anthony Pompliano of Morgan Creek Digital and Dan Morehead of Pantera Capital haven’t set their sights on $200K for 2021, but that doesn’t mean they are bearish. They both believe Bitcoin will close the year above $100K, which would be double the current price.
In a recent interview with Cointelegraph, Pomp noted:
“If all of a sudden only about 8 million Bitcoin are available and all this demand is showing up, you are going to have a pretty aggressive price increase.”
Who would have thought the day would come when $100K, or even $200K, Bitcoin price predictions are considered moderate? Well, today may finally be that day. Unconfirmed reports say Citibank have set their sights set on even higher price targets for 2021.
And that’s just in the short term. As Bitcoin’s price rises, so do the long-term forecasts. Frank Holmes of US Global Investors and Scott Minerd of Guggenheim Investments both believe half a million dollars is within reach in the coming years.
But there’s one price prediction that trumps them all. Microstrategy CEO Michael Saylor foresees Bitcoin sucking up ‘monetary energy’, which would propel it to an unthinkable price:
“In theory, all monetary energy that’s simply looking for a store of value/safe haven index should presumably drain out of real estate, cash, stocks, and bonds into the Bitcoin network.”
MicroStrategy chief executive Michael Saylor is envisioning a future where hundreds of trillions of dollars worth of investments can push the value of Bitcoin to as high as $14 million.
“I think that demonetizing gold gets you to $500,000 and that’s simply pulling all the monetary energy off of the gold rock from gold bugs who believe is a store of value and a safe haven. It’s important to note there are a lot of organizations and a lot of investors that don’t use gold as their safe haven. They use government debt, sovereign debt, and so cash is a safe haven, and sovereign debt is a safe haven, and another safe haven people use as a store of value is the index funds.”
In other trending Bitcoin News today:
Bitcoin Futures Open Interest Hits New ATH As Traders Flock to Derivatives
With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets.
According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges approaching $20 billion.
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Trezor: ► http://trezor.cryptonewsalerts.net
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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:
On this day last year #Bitcoin dropped 40% in one single day to $3,858. #Bitcoin is up +1400% since that day.
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 12, 2021
https://cointelegraph.com/news/from-318k-to-0-bitcoin-price-predictions-for-2021
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