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Microstrategy CEO Michael Saylor in a new interview with Bitcoin Magazine, predicts BTC will hit $10,000,000 per coin. Bitcoin price hit $57,600 this morning, a new five-month high. In todayâs show I share the 5 most important things to watch in BTC market this week. Also in todayâs show: El Salvador to build $4M veterinary hospital using profits from Bitcoin trust. Salvadoran President Nayib Bukele has announced plans to invest part of the $4 million worth of profits the country has amassed from its Bitcoin (BTC) holdings to invest into constructing a new veterinary hospital in the local capital of San Salvador.
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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/analysis-the-distinction-between-bitcoins-market-cycles-in-2017-and-2021/
https://cointelegraph.com/news/btc-price-hits-57k-five-month-high-5-things-to-watch-in-btc-this-week
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MAX KEISER SAYS BITCOIN SUPERCYCLE IS JUST BEGINNING AND WILL SUPER CHARGE BTC TO THE STRATOSPHERE!!
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Bitcoin dumped 17% in the past 24 hours liquidating $5.64 billion in extended BTC losses, however, Wall Street veteran and host of the Keiser Report, Max Keiser remains optimistically bullish sharing the following on Crypto twitter:
âBitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart). Â
We are now heading into a crushing inflationary period that will super charge BTCâs price to the stratosphere.
Incredibly bullish for Bitcoin. The BTC super cycle is just beginning!â
The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board.
Liquidations occur when leveraged futures positions fall to a certain threshold. For example, a position using 10x leverage would get liquidated or turn worthless if the price of BTC drops by 5%.
What triggered the mass Bitcoin liquidation fest?
If the Bitcoin futures market is highly overleveraged and overcrowded, a minor price movement can trigger mass liquidations.
According to analysts at Santiment, a data analytics firm, an address was responsible for the second-largest Bitcoin transaction of the year, as Cointelegraph reported.
More than 2,700 BTC were transferred right before the drop, which were bigger than the 2,000 BTC inflow seen before the March 2020 crash when Bitcoin dropped below $4,000. The analysts said:
âAs we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoinâs price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet before a quick sell-off. This same address also made a 2,000 $BTC import last March right as the Black Thursday correction took place. In total, itâs made 73 transactions in its one-year existence, for a total of 91,935 $BTC imported, with all tokens moving away within minutes after arrival.â
It is a possibility that a major sell-off in the spot market triggered the futures market to see intense selling pressure from many long positions getting liquidated.
When Bitcoin initially began to correct on Feb. 22, the futures funding rate of the dominant cryptocurrency was hovering at around 0.15% even as it continued to drop.
In other trending Bitcoin News today:
North American Bitcoin ETF Erupts, Analyst Says It Could Soon Shatter $1 Billion in Assets Under Management
A Bloomberg Intelligence analyst is estimating that the first North American Bitcoin exchange-traded fund (ETF) is on track to reach $1 billion in assets under management (AUM) in the coming days.
In a new tweet, Bloomberg Intelligenceâs senior ETF analyst Eric Balchunas predicts that the Purpose Bitcoin ETF, which trades under the BTCC ticker on the Toronto Stock Exchange (TSX), could soon hold more than double its current AUM.
âCanada Bitcoin ETF BTCC traded $350m (CAD+USD) today, a 40% jump from yesterday (defying typical Day Two drop-off) and 3x more than any other ETF (unreal). Proportionally speaking, this is equivalent to about $5 billion in volume in the US (or about 7x more than GBTC). Two-day AUM is estimated at $330m.
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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:
Sec Treasury Janet Yellen states: âBitcoin is extremely inefficient.â Give me a break. Does she think printing trillions of fake dollars is efficient? Does she not know the more fake dollars she prints the more efficient and valuable Bitcoin becomes? God bless her.
â therealkiyosaki (@theRealKiyosaki) February 22, 2021
#Bitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart).
We are now heading into a crushing inflationary period that will super charge BTCâs price to the stratosphere. pic.twitter.com/4FyO1xAz7D
â Max Keiser (@maxkeiser) February 23, 2021
As we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoin‘s price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet pic.twitter.com/CTgtJr27np
â Santiment (@santimentfeed) February 23, 2021
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Three Altcoins Ready to Outperform Bitcoin | K BTC Price May Be Just Weeks Ahead
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Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before Bitcoin (BTC) Hits $14,000
After rallying as high as ~$10,100 on leading exchanges this week, Bitcoin plunged off a proverbial cliff.
Within 12 hours after hitting the highs, the cryptocurrency dipped by almost $1,000, crushed as long orders cascaded BTC lower.
While this was a bearish rejection at a crucial level, analysts are still bullish.
They cite a confluence of technical and fundamental factors showing that the BTC trend remains slanted to the upside.
Bitcoinâs recently price action may make it seem like a top is forming, but a fractal analysis from a leading analyst in the space has suggested the opposite.
âFractals also refer to a recurring pattern that occurs amid larger more chaotic price movements.â
The analyst suggested that a fractal has formed between the start of 2019âs 300% rally and BTCâs price action over the past few weeks.
The fractal suggests that BTC will trade as high as $14,000 by the middle of July.
As a pertinent aside: the analyst who shared the chart below is known for observing accurate fractals, which predicted a number of key swings over the past year.
In other trending Bitcoin News today:
Three Altcoins Ready to Outperform Bitcoin (BTC), According to Crypto Analytics Firm Santiment
Crypto analytics firm Santiment says a handful of crypto market metrics indicate that Ethereum (ETH), Basic Attention Token (BAT) and Maker (MKR) all look more bullish in the short term than Bitcoin (BTC).
Santiment looked at each assetâs three-day averages in three metrics.
The first, Daily Active Addresses (DAA) vs. Price
Divergence, compares an assetâs price action to the number of unique crypto addresses interacting with that specific coin on a daily basis.
The metric views price action that outpaces DAA as a bearish signal, and vice versa.
The second, Network Value to Transactions Ratio (NVT), compares the value transferred on a specific network (transaction volume/token circulation) to the networkâs market cap. If the transaction volume is low relative to market cap, an asset is considered overvalued and vice versa.
The third metric, Sentiment Volume Consumed, measures the sentiment of market participants on Twitter.
Santiment evaluated each asset using a simplified rating system: 0-10, with 0 representing the most bearish and 10 the most bullish.
A 5 implies a prediction of sideways consolidation.
Bitcoin scored a 3 on the DAA vs. Price Divergence metric, a 2 on the NVT, and a 6.5 on Sentiment Volume Consumed, for an average rating of 3.8, or âslightly bearish.â
Ethereum scored a 5 on DAA vs. Price Divergence, a 5.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 5.5 (neutral).
Basic Attention Token scored an 8.5 on DAA vs. Price Divergence, a 9.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 8.0 (bullish).
Maker scored a 9 on DAA vs. Price Divergence, a 10 on NVT, and a 5.5 on Sentiment Volume Consumed, for an average rating of 8.2 (bullish).
Santiment cautions that none of these scores are indicative of the firmâs long-term outlook on each asset.
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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:
Don’t lose sight of the HTFâŠOur prior resistance region has now been broken and is now being tested as support. Bulls remain in control and gunning for the highs again imo. HTF has been bullish since posting this weeks ago, hope you have been buying the dips. $BTC https://t.co/Q7k4bd86Q5 pic.twitter.com/WpVUf1wPGt
â Credible Crypto (@CredibleCrypto) June 4, 2020
Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before BTC Hits $14,000
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I WONâT BE SURPRISED IF BITCOIN HITS 0K BY 2022, SAYS FAMILY THAT BET EVERYTHING ON BTC AT 0!!
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Didi Taihuttu, his wife, and three kids bet âeverythingâ they have on Bitcoin.Â
This is how the legend of the BTC family begins.
In 2017, CNBC spoke to the Dutch family of five when they were in the process of liquidating their assets â from a profitable business and 2,500-square-foot house, to their shoes â and trading it all in for the popular cryptocurrency and a life on the road.Â
Nearly four years and 40 countries later, Taihuttu and his family still donât have bank accounts, a house, or all that much by way of personal possessions. All of the familyâs savings remain tied up in highly volatile cryptocurrencies.Â
âWe stepped into bitcoin, because we wanted to change our lives,â said the 42-year-old father of three.
When the price of bitcoin collapsed in 2018, Taihuttu added more to his investment portfolio. He says he was always a firm believer that the cryptocurrency was poised for a major rebound.Â
âI think in this bull cycle, we are going to see a minimal peak of $100,000. I wonât be surprised if it hits $200,000 by 2022.âÂ
The price of bitcoin reached an all-time high on Monday, as it closed in on $20,000. And some analysts say the cryptocurrency still has a lot of room to run higher.Â
Mike Novogratz, CEO of investment firm Galaxy Digital, thinks this comeback rally is only just getting started. He sees bitcoin rising to $60,000 by next year.Â
And Tom Fitzpatrick, global head of CitiFXTechnicals, said the charts signaled that bitcoin could reach $318,000 by December 2021, in a report meant for Citibankâs institutional clients and obtained by CNBC.
Taihuttu bought the bulk of his bitcoin holdings when it was was trading at around $900 in early 2017, just months before it reached nearly $20,000 a coin.Â
Even as bitcoin peaked, the family stayed invested in the cryptocurrency. Once the bubble burst, and the price tumbled down to about $3,000 in early 2018, Taihuttu and his family werenât deterred. âWhen bitcoin dipped, we started to buy more.âÂ
When I asked Taihuttu on our Skype call whether he was worried that we could be in the midst of another bitcoin bubble, he doubled down on his investment. âI donât see demand going down,â he added. âI think weâre headed for a supply crisis.âÂ
In other trending Bitcoin News today:
Billionaire Paul Tudor Jones Says Bitcoinâs âCrazy Rocket Ship Rideâ Is Just Beginning
Veteran investor and hedge fund manager Paul Tudor Jones is likening Bitcoin and crypto to the early stages of the internet.
In an interview with Yahoo Finance, Jones says that while he is not sure where Bitcoin will land in the financial landscape a decade from now, he is fairly confident that it is in the early stages of a major upward movement.
âSo what I do know is that itâs no way possible today to know what the next 10 or 20 years are going to be like and I know if I had to take a position on it Iâm going to take the brand name and Iâm going to assume that itâs the wrong price for the possibilities that it has and Iâm going to assume that the path forward from here is north.
I think crypto is going to have a crazy rocket ship ride, up and down along the way, but my guess is that something like Bitcoin in particular will be substantially higher 20 years from now than where it is right now and who knows what role it has in the monetary system.â
âBitcoin reminds me so much of the internet stocks of 1999 because [when] the internet was in its infancy no one knew how to value it because of the world of possibility that lay ahead.
What you can be certain of is that probably 20 years from now is that weâll be using some kind of digital currency.â
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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:
Micro strategy now holds 40k bitcoin.There is about 2.44M bitcoin left to mine.So if we think of fresh supply coming in, there is only room for 61 more companies to hold as much as MSTR before the last sat is mined.
The rest has to be torn out of hodler hands.
â hodlonaut đźâĄđ đ (@hodlonaut) December 4, 2020
https://finance.yahoo.com/news/microstrategy-buys-additional-50m-bitcoin-225922648.html
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