GOLDMAN SACHS PREDICTS ETHEREUM WILL OVERTAKE BITCOIN AS STORE OF VALUE!! PAYPAL ALLOWS WITHDRAWALS!

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Bitcoin could surge by up to 10x and reach $170,000 if BTC closes November’s monthly candle at or above $13,880, based on historic performance, according to popular crypto analyst Josh Rager.

Bitcoin has been surging in value in the past month. The impressive performance led to several consecutive yearly records and reaching $16,000 last Friday – the highest BTC price displayed since early January 2018.

Although the cryptocurrency has retraced since its peak and currently trades at about $15,400, the analyst Josh Rager suggested that the asset could soon skyrocket even further.

Rager noted that “every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1,000% uptrend has followed.”

The first similar scenario highlighted in his graph above occurred in 2013. BTC’s January monthly close was around $20, which coincided with the previous monthly high.

Shortly after, the primary cryptocurrency spiked to about $150 – or a near 700% increase.

Somewhat identical events transpired on two more occasions in 2014 and during the parabolic price increase of 2017.

The latter is also the current benchmark as BTC closed in December at about $13,880.

With Bitcoin’s price hovering above that level now, Rager believes that “November could be the first monthly close that we see breaking the previous high.”

Should his prediction materialize, Bitcoin will find itself in a six-digit price territory.

The “modest” 700% increase will take BTC to $120,000, while the 1,000% surge will result in $170,000 per coin.

Another famous BTC analyst, Willy Woo, attributed Bitcoin’s latest price surge to smart money – high net worth individuals. He asserted that the average transaction value between investors had increased substantially in the past few months.

“Who has been buying this rally? It’s smart money… High Net Worth Individuals.

You can see the average transaction value between investors taking a big jump upwards. OTC desks are seeing this too.

Bitcoin is still in its stealth phase of its bull run.”

In other trending Bitcoin News today:

“Billionaire Investor Stanley Druckenmiller Says He Owns Bitcoin, Believes Top Crypto Asset Has More Upside Potential Than Gold”

Billionaire and famed money manager Stanley Druckenmiller says he has warmed up to Bitcoin and now owns the crypto asset.

Druckenmiller tells CNBC’s The Exchange that he’s predicting a steady decline in the value of the US dollar in the next few years as he expects inflation to rear its ugly head.

“When you look at the extraordinary measures taken by the Fed and the fact that they’re monetizing the debt, I think it’s a high probability that we get inflation in the next five or six years, starting maybe in a year or two.

Particularly with the vaccine, now the economy could run very hot, at the same time all the stimulus is in the pipeline, at the same time we have challenged supply chains between the United States and China.”

Kelly Evans, the host of The Exchange, noted Druckenmiller’s interest in BTC when she introduced him.

The billionaire emphasizes that his interest in the cryptocurrency is only moderate compared to gold.

“With regard to gold and Bitcoin, you’ve kind of overstated in your introduction my enthusiasm for Bitcoin. I do own a tiny bit of it but I own a lot more gold. Gold is a 5,000-year brand as a go-to asset in terms of inflation.”

Druckenmiller, however, does note that Bitcoin could potentially have more upside than the precious metal.

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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:

$BTCEvery time Bitcoin has closed above the previous monthly all-time high – a 700% to 1000% uptrend has followed

November could be the first monthly close that we see breaking the previous high and historically that’s been a very bullish sign for the crypto market pic.twitter.com/5SBTtE600U

— Josh Rager 📈 (@Josh_Rager) November 10, 2020

“I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value,” says legendary investor Stanley Druckenmiller to @KellyCNBC. His “dollar-decline basket” also features good ol’ gold.$BTC $RIO $FCX pic.twitter.com/2zuM8JqxaW

— The Exchange (@CNBCTheExchange) November 9, 2020

Who has been buying this rally? It’s smart money… High Net Worth Individuals. You can see the average transaction value between investors taking a big jump upwards. OTC desks are seeing this too.

Bitcoin is still in it’s stealth phase of its bull run. pic.twitter.com/3q41pmNVP9

— Willy Woo (@woonomic) November 9, 2020

The significance of the worlds greatest and most respected money manager – Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to invest…#Bitcoin

— Raoul Pal (@RaoulGMI) November 9, 2020

https://cointelegraph.com/news/18k-bitcoin-price-eh-btc-market-cap-may-pass-canada-s-monetary-base

https://cryptopotato.com/analysis-bitcoin-can-go-10x-from-current-price-if-november-breaks-monthly-ath-close/

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

By integrating direct Bitcoin payments, Twitter is paving the way for the BTC price to surpass $300,000.

Jack Dorsey’s social media platform Twitter has officially enabled third-party Bitcoin tipping services for iOS users, giving them the ability to seamlessly pay one another across the globe, nearly instantly.

If Bitcoin’s market capitalization consisted solely of the $700 billion global remittance industry, the $13.8 billion influencer marketing industry and the $5.44 trillion global digital payments market (a combined estimated value of $6.1538 trillion) through applications like Twitter’s tipping service, each Bitcoin in existence (18,824,860 at the time of this writing) would be worth approximately $326,897.

In other trending Bitcoin News today: Bitcoin could hit $100,000 as soon as next month?!

“There’s still a high probability that the U.S. is just going to follow Canada, maybe with a futures-based bitcoin ETF,” Bloomberg Intelligence senior commodity strategist Mike McGlone told Stansberry Research last week.

McGlone also doubled down on his $100,000 bitcoin price prediction, forecasting bitcoin will hit the psychological level by the end of 2021 but potentially as soon as October.

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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://bitcoinmagazine.com/markets/twitter-drives-300000-bitcoin-price

https://www.forbes.com/sites/billybambrough/2021/09/27/crypto-price-prediction-100000-per-bitcoin-could-come-even-sooner-than-you-think-with-ethereum-leading-the-way/?sh=2df374e11748&utm_source=TWITTER&utm_medium=social&utm_content=5578979739&utm_campaign=sprinklrForbesCrypto

TA: Bitcoin Forms Bullish Pattern, Why BTC Could Rally above $45K

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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/bitcoin-price-en-route-to-new-2020-high-once-bulls-break-118k-resistance

https://cointelegraph.com/news/chainlink-rival-band-protocol-surged-65-overnight-3-reasons-why