ANTHONY POMPLIANO – XRP And Ripple New Outlook | Brad Garlinghouse Interview

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CRUCIAL ON-CHAIN BITCOIN INDICATOR SUGGESTS A STRONG RALLY WILL COME

Ki Young Ju, CEO of CryptoQuant, noted that BTC is likely on the verge of a full-blown bull run as the mining ecosystem flashes a number of bull signals.

He shared a chart on September 24th, noting that Bitcoin miners are suggesting that a bull run is around the corner.

This same signal appeared in early 2017, preceding a parabolic surge.

“If BTC miners still drive the price, the next bull-run should be starting soon. MPI(Miner Position Index) has a very high hit rate in forecasting the bull/bear market when the macro factors like the stock market are not significant.”

Should history rhyme, the Bitcoin price is on the verge of a parabolic rally that should bring it past the previous all-time high at $20,000.

And if history actually repeats itself with Bitcoin surging another 1500% from here, then the BTC price can literally skyrocket to $150,000.

Aside from pure on-chain data, analysts say that the fundamentals of Bitcoin are stronger than ever.

This corroborates the expectations of the cryptocurrency market to undergo a strong rally to the upside.

Speaking on the fundamentals of BTC, Raoul Pal, CEO of Real Vision, recently stated: 

“Most people don’t understand the latter but is simply put, Powell has shown that there is ZERO tolerance for deflation so they will do ANYTHING to stop it, and that is good for the two hardest assets – Gold and Bitcoin.

Powell WANTS inflation. I don’t think he gets true demand push inflation but he will get fiat devaluation, in conjunction with the other central banks all on the same mission.”

Others like Pal have echoed this optimistic sentiment.

They say that due to the vast amount of monetary stimulus amongst other geopolitical and monetary trends, BTC is primed to move higher.

In other trending Bitcoin News today:

Bitcoin Has 60X Market Expansion Potential, Says Crypto Investment Firm Galaxy Digital – Here’s Why

Galaxy Digital Capital Management, a leader in digital asset investing, says Bitcoin’s mainstream market presence is on the rise, with more growth potential than gold. 

Although the precious metal has historically been investors’ favorite time-tested and reliable safety net against financial uncertainty, Galaxy Digital says in a new report that recent investments in Bitcoin from macro investing legend Paul Tudor Jones and tech giant MicroStrategy highlight Bitcoin’s attractiveness as a potential hedge against inflation.

With a market cap of over $200 billion, Galaxy Digital says Bitcoin still has tremendous room to grow.

“Gold’s market capitalization is currently over $12 trillion. Bitcoin’s value, on the other hand, is currently around $200 billion, less than 2% of the gold market. That presents a potential greater than 60x market expansion opportunity if Bitcoin grows to gold’s level as an alternative, digital store of value asset.”

Due to its open-source ethos and 11-year history of negative correlation to major global assets, Bitcoin has transformed from an obscure, decentralized peer-to-peer digital transaction facility to a globally-recognized institutional asset that is resistant to political censorship or interference.

Institutional adoption and usage of Bitcoin has surged since the Covid-19 pandemic, thanks to swelling government debt and fiscal stimulus hitting record highs, says Galaxy Digital.

“Top investors and large institutions are adopting it as an inflation hedge, including macro legend Paul Tudor Jones and MicroStrategy Inc., a publicly-traded business intelligence software firm (NASDAQ: MSTR).” 

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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:

One year from now I think 1 Bitcoin will be worth $53,100

— Crypto Capital Venture ⚡️ (@cryptorecruitr) September 26, 2020

https://mcusercontent.com/4ee5467326fbf62430854c9c7/files/d3f78f5b-247d-4232-8f29-ad603fef945f/GFM_Digital_Assets_Diversified_September_2020.pdf

When This Signal Flashed in 2017, Bitcoin Gained 1,500%. It’s Back Again

https://cointelegraph.com/news/ultimate-bitcoin-bull-case-trader-says-23-factors-show-a-rally-is-due

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The Bitcoin price just surpassed $11,700, breaching a critical resistance level with BTC ending July at its highest monthly close since its 2017 peak.

Max Keiser just tweeted,

“Bitcoin hits new 2020 high. This leg up will continue to $28,000 before we might see a pause.”

Spartan Group’s Kelvin Koh said that when BTC breaks out of $11,400, a rally to $12,000 is likely.

Meanwhile, on-chain analyst and trader Willy Woo said Bitcoin’s rally above $11,000 could place BTC at the start of the “main bull phase.”

On June 27, on-chain analyst and Bitcoin trader Willy Woo revealed a new price model for BTC. The model suggested that a new bull run for the top cryptocurrency is brewing.

At the time, Woo said:

“This is a new model I’m working on, it picks the start of exponential bull runs.

1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.

2) This model suggests we are close to another bullish run. Maybe another month to go.”

A month has passed since the model was revealed and the price of Bitcoin has increased from $9,100 to over $11,000.

Following up on the model, Woo said he is “relatively confident” the main bull phase is igniting.

The analyst broke down various on-chain data points, including Bitcoin’s mempool and the relative strength index (RSI), to evaluate market cycles.

Woo said that the on-chain RSI, specifically, suggests the main bull market could begin in the fourth quarter. Woo explained that:

“With the current break to 11K, I’m relatively confident last months model is working on queue, we’re at the start of the ‘main bull phase’… 365 day on-chain RSI shows the compression at the early phase of the bull cycle nearing completion, I’m expecting RSI expansion that typifies the main bull season run starting Q4 2020 into 2021.”

Similarly, Koh said that if the price of Bitcoin continues to increase above $11,400, it will sustain its momentum.

But if BTC continues to rally, the investor emphasized that alternative cryptocurrencies could consolidate.

Koh said: “If BTC breaks the resistance at $11.4K, we are going above $12K in no time. Will take the wind out of altcoins again in the short term.”

In other trending Bitcoin News today:

As The Bitcoin Price Soars, Bitcoin’s ‘Real’ Crypto Market Dominance Is Revealed

According to the new measure of bitcoin dominance, bitcoin currently makes up 79% of the cryptocurrency market—up from the 62% bitcoin market share calculated by the oft-cited crypto data website CoinMarketCap, which takes into account hundreds of cryptocurrencies that are all created and issued in different ways.

The Real Bitcoin Dominance Index, created by Buy Bitcoin Worldwide founder Jordan Tuwiner, calculates bitcoin’s market share among cryptocurrencies that are created, or “mined,” in a similar way to bitcoin.

The new bitcoin dominance index also excludes all cryptocurrencies issued as a form of fundraising, known as initial coin offerings (ICOs), cryptocurrencies tied to traditional currencies, such as tether, and other centralized projects, making it “a better measure” of the cryptocurrency market, according to Tuwiner.

“The issue with ICOs is that they are centrally controlled. Let’s say a bitcoin exchange releases stock legally via a token. Other dominance indexes would likely include that in their index. If so, then why not include the whole stock market? ICOs or stocks that are tokens are not trying to be money, and therefore should not be measured in a dominance index with bitcoin,” Tuwiner said via email.

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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:

🔴 fixed at $9132🔴🔴 fixed at $11356🔴🔴🔴 currently $11700

I can’t make a chart for you now (at sea), but S2F model perfectly on track. pic.twitter.com/rJGuKyxPKG

— PlanB 🔴🔴🔴 (@100trillionUSD) August 1, 2020

https://cointelegraph.com/news/bitcoin-price-soars-to-11-400-as-traders-say-a-bull-phase-is-igniting

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The Bitcoin price is still struggling to break out above $10,000 following three failed attempts over a 36-day period.

Traders remain mixed on the short-term BTC price trend as macro indicators suggest varying trends.

Many traders believe the price of Bitcoin is primed for a rally above the multiyear resistance level of $10,500, which would confirm the end to a two-year price cycle and the start to a newfound rally.

Others foresee the price of Bitcoin falling all the way to the $6,000–$7,000 range in the near term, given the three consecutive rejections of the same range in between $10,000 and $10,500 spanning over a month.

Historical data shows that declining volatility and volume suggest a large Bitcoin price movement will likely occur in the near term.

For instance, the price of Bitcoin in early September 2019 was hovering around $10,500 to $10,800.

At the time, the volume of both futures and spot markets declined substantially compared with the previous two weeks.

By the end of October, after a month of consolidation, the price of Bitcoin dropped from $10,800 to $7,300, recording a 32% pullback within two months after weeks of low volatility.

The bullish scenario for Bitcoin in the short term Traders generally anticipate a Bitcoin upsurge in the near term due to three main reasons: a compelling technical structure, an increase in the number of long-term holders and a rapidly growing hash rate.

According to Michael van de Poppe, a full-time Amsterdam Stock Exchange trader, the short-term trend of Bitcoin is optimistic as long as the price remains above $9,100.

The $9,100–$9,300 range has served as a strong support area for Bitcoin since May.

If the price holds $9,100 and breaks above $10,500 once again, van de Poppe emphasized that $12,000 is likely next.

He said: “If we break $10,000, next level is $10,500. If we break $10,500, next level is $11,500-12,000. Crucial level to hold; $9,100-9,300.”

Similarly, cryptocurrency trader Nunya Bizniz said earlier this month that the following levels are the most important for BTC to see a prolonged rally:

* $10,000: a resistance and psychological barrier;

* $10,500: first higher high, change to market structure;

* $11,600: last three cycles, a monthly close is above a key technical level at 50% Fibonacci retracement; and

* $14,000: a close above a monthly all-time high indicates an attempt at BTC’s record high.

In other trending Bitcoin News today:

INDIA PLANS BITCOIN BAN EVEN AS ITS BANKING SYSTEM GRADUALLY COLLAPSES

The Indian government may ban Bitcoin. According to a report by Economic Times, the country’s finance ministry has sent the proposal for inter-ministerial consultation.

The department then expects to forward the plan to its top cabinet, which operates directly under Prime Minister Narendra Modi. The move further allows the motion to be tabled as a bill in the parliament.

“While we have recognized… the power of Reserve Bank of India to take preemptive action, we are testing in this part of the order the proportionality of such measure, for the determination of which RBI needs to show at least some semblance of any damage suffered by its regulated entities. But there is none.”

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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:

$BTC #BITCOINSlight wick now, which is fine.If we break $10,000, next level is $10,500.If we break $10,500, next level is $11,500-12,000.Crucial level to hold; $9,100-9,300.

Check it here:https://t.co/nCn6H1LjY5 pic.twitter.com/TxxsVk0GrB

— Crypto Michaël (@CryptoMichNL) June 10, 2020

BTC overhead stepping stones:1. $10K – Resistance & psychological barrier2. $10.5K – 1st higher high, changes market structure.3. $11.6K – Last 3 cycles, a monthly close above 50% Fib retracement = 🚀

4. $14K – A close above monthly ATH close always = 🚀

— Nunya Bizniz (@Pladizow) June 1, 2020

The government needs to stop this madness of deciding whether they want to ban crypto or not. Either do it so we can fight it or come up with better regulations instead of throwing a news byte every few days creating panic in public.

Aadmi kare to kya kare?

— Naimish Sanghvi (@ThatNaimish) June 12, 2020

Evidence of buyer interest around $btc M.O.This level got front run on recent dumps. Sellers just don’t have what it takes to push price down.

Longed. pic.twitter.com/LDyjNYJQDn

— Mohit Sorout 📈 (@singhsoro) June 11, 2020

India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses

https://charts.woobull.com/bitcoin-hodl-waves/

https://cointelegraph.com/news/bitcoin-price-to-hit-12k-or-8k-next-btc-traders-discuss-macro-signs