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Two market analysts have said Tim Draper’s bold Bitcoin price prediction might not be as far fetched as it seems.

The billionaire venture capitalist said recently that Bitcoin (BTC) would reach a price of $250,000 between six months and a year after the 2020 halving.

BKCM LLC’s Brian Kelly and Fund Strat’s Tom Lee both believe that Bitcoin will absorb capital from the gold market.

The analysts are not sure that such a colossal figure is achievable is such a short space of time, however, analysts agree: Draper’s $250,000 BTC price isn’t inconceivable.

Founder & CEO of the digital currency investment company BKCM LLC Brian Kelly said that although the prediction sounds “bizarro”, (BTC) Bitcoin is known for spectacular price runs, like those seen in 2013 and 2017.

Kelly identified that Bitcoin has been trading within a channel since 2013.

Extending that channel out to the end of 2022, the top is around the $250,000 per Bitcoin mark.

Kelly said that he agrees with the opinion of Draper and others that Bitcoin will absorb gold’s market share over the coming years.

However, he added that he was not sure that the digital asset would reach the $4.5 trillion market capitalization required to hit Draper’s predicted price by the start of 2023.

Next to weigh in on the Bitcoin price call was Fund Strat’s Tom Lee.

Like Draper and Kelly, Lee is overall bullish on Bitcoin.

However, he too is not sure about the tight time frame predicted by Draper.

He said:

“I don’t know if 24 months is how long it would take… If it took 5 years, I think it would still be considered a huge, massive, surprising success.”

In other Crypto news today, Gin Chao, the Chief Strategy Officer of Binance, told trade news outlet BlockTV earlier this year that historical trends imply the crypto asset market has a large amount of upside potential.

In fact, he states that if you take previous cycles into account, of which there were at least three, Bitcoin could find itself in the $50,000 to $100,000 range – around seven to 15 times higher than the current price of $7,200, respectively – in the coming decade.

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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:

Crypto Market’s Long-Term Trend is Positive: Binance CEO Explain Why

Bitcoin at $250k? Analysts Weigh in on Draper’s “Bizarro” Call

➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net

Market analyst and podcaster Preston Pysh says he believes a new long-term Bitcoin bull cycle is coming that will take the BTC price far past $100,000.

In a new interview with Heyo co-founder Nathan Latka, Pysh points to the Bitcoin halving, which is set to execute next month, as the catalyst for a parabolic rally that could bring the Bitcoin price to $300,000.

“Do I think that it’s just going to up to [$100,000] and stop? Hell no. It’s going to go straight through that number. It’s probably going to go to $200,000 to $300,000.

And then, if it doesn’t meet its escape velocity, which is a whole other term, which is, in my opinion, completely dependent on all this other macro stuff that we’ve been talking about… then it’s going to come back to that $80,000 to $100,000 mark. And it will stay there until the next four year halving event.”

Pysh says concerns that the halving, which will cut in half the amount of BTC rewarded to miners who power the network, will make it hard for miners to earn a living are overblown.

He points to Bitcoin’s difficulty adjustment, which automatically reviews network activity and changes how much computing power is required to process transactions, as the key reason many miners will continue to turn a profit as Bitcoin becomes increasingly scarce.

As for his personal investments, Pysh says he owns Bitcoin (BTC) and is now out of the equities market.

He says the push from central banks to ramp up money printing will significantly weaken the US dollar.

He points to billionaire investor Ray Dalio as an example of a leading investor who shares the same views on the future of the global reserve currency.

In January, Dalio said “cash is trash” in an interview with CNBC.

Dalio argues that a weakening dollar and increasing money supply will decrease its value over time.

In other trending Bitcoin news today: ‘Boomers Are F*cked’ – New Macro Report Forecasts $1M Bitcoin by 2025

In a scathing attack on the world’s ailing financial system, Raoul Pal puts his faith firmly in Bitcoin and gold as the future.

Bitcoin (BTC) can rally to $1 million but coronavirus means that the baby boomer generation is “f*cked,” a damning new macro report concludes.

Originally published to clients on March 30, the report from Global Macro Investor dubbed “The Unfolding” paints a dismal future for the financial market.

According to CEO Raoul Pal, who authored the report, coronavirus has fueled the fire of systemic weakness across global markets.

“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg,” he summarized on the market losses from March.

“The Baby Boomers are totally f*cked. I have been publicly warning and warning about this.”

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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:

Jack Dorsey has one thing listed in his bio on twitter. So here’s the question for people that think BTC won’t work:

What the hell does this guy know about #Bitcoin that you don’t? pic.twitter.com/q6dug8A8Hn

— Preston Pysh (@PrestonPysh) April 23, 2020

https://cointelegraph.com/news/boomers-are-fcked-new-macro-report-forecasts-1m-bitcoin-by-2025

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Despite stagnation in the Bitcoin market, the hash rate of the leading cryptocurrency has grown stronger and stronger.

The hash rate is the measure of the computational power being allocated to mine BTC blocks.

As noted by CoinCorner’s Matt Ward, data shows that the hash rate just hit a new all-time high on July 13th.

The measure hit 147.88 exahashes per second, which is double that seen a year ago and over 10 times higher than that of 2017’s $20,000 high.

“Bitcoin hashrate just reached an 𝗮𝗹𝗹 𝘁𝗶𝗺𝗲 𝗵𝗶𝗴𝗵. The 𝗵𝗶𝗴𝗵𝗲𝗿 the hashrate, the more 𝘀𝗲𝗰𝘂𝗿𝗲 the network is.”

This indicates that Bitcoin is more secure as a computational network than ever before, even though the market has flatlined.

But what effect will the booming hash rate have on the price of BTC?

According to Bitcoin investor and the co-host of the Keiser Report, Max Keiser, BTC is likely to follow the hash rate higher.

In a series of tweets published on July 13th, Keiser cemented his sentiment:

“Hashrate precedes price BTC. Bitcoin price – not that important – as Gold price is not that important since both BTC and Gold trade inversely with the USD. BTC hashrate increasing shows confidence in fiat money collapsing Soon, BTC will actually be drawing energy away from fiat.”

As a pertinent aside, Keiser previously said that he thinks 99% of all the hash rate in the crypto industry will soon be allocated to Bitcoin.

This sentiment has been corroborated by other investors.

Charles Edwards, a digital asset manager, unveiled the “Energy Value” model for the BTC price in December of 2019.

The premise is that the “value of Bitcoin is a function of its energy input in Joules.

The formula he created was then accurate, with his analysis indicating it has had an 80% R2 value over Bitcoin’s lifespan.

The same model predicts that BTC is currently around 28% undervalued. With the high accuracy of the model, should Bitcoin’s hash rate remain this high or continue to grow, the BTC price will eventually follow.

In other trending Bitcoin News today:

7 Crypto Assets Making Huge Moves As Bitcoin (BTC) and Ethereum (ETH) Prepare for Breakout, Says Analyst Nicholas Merten

Crypto analyst Nicholas Merten says the crypto markets are gaining momentum.

On a new episode of DataDash, Merten looks at digital assets in the 100-200 rank by market capitalization and points to a few that are making big moves.

“The excitement’s happening. We’re seeing a lot of plays starting to make 10, 20, 30% moves in a single day, and this is the kind of sign here of a reversal pattern in cryptocurrency markets.

Optimism starting to show…  Request Network up 26.6%. Band Protocol, a competitor within the Oracle space, up nearly 18%. Ocean Protocol [up] 14%. Haven Protocol, another one that many people have been talking about, up 13.69%.

And also things like Theta Fuel, Elastos and Unibright all up in double-digit territory. So this is really exciting to see.”

Merten is also bullish on Bitcoin (BTC), predicting a sharp move to the upside for the crypto king and for Ethereum (ETH) “in the next month or so.”

“I really do think you’re going to see Bitcoin above $10,000, you’re going to see ETH above $300, and you’re going to see a ton of altcoins continue day by day in this case to continue making double-digit returns into the month of August.”

Back in April, Merten said he believes $100,000 is a practical price target for Bitcoin’s next long-term cycle.

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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:

Hashrate precedes price#Bitcoin price – not that important – as Gold price is not that important since both BTC and Gold trade inversely with the $USD BTC hashrate increasing shows confidence in fiat money collapsing

Soon, BTC will actually be drawing energy away from fiat

— Max Keiser (@maxkeiser) July 13, 2020

Bitcoin’s Hash Rate Just Hit a High — Max Keiser Thinks Price Will Follow

https://cointelegraph.com/news/rich-dad-poor-dad-author-gold-guys-are-being-phased-out?fbclid=IwAR3pANz6Fs2ckXmt4qkiMJR1I5ByGd8Hgbp1VJRbnjcYpfY8abxGk49GjYE

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The highs for Bitcoin are yet to be seen this year, says Alex Mashinsky, chief executive officer and co-founder of Celsius – the centralized cryptocurrency lending platform – told Cointelegraph at Bitcoin 2021 in Miami that he sees the BTC price reaching $160,000 this year, or possibly a bit lower.

Mashinsky further remarked that the crypto market was bound for a correction, following Bitcoin’s recent all-time high of ~$64,800:

“When you go too high, too fast, you are bound for a correction. You can see my tweets in both March and February saying ‘we’re going to have a crash, we’re going to have a correction.’ I predicted $30,000. Bitcoin is like a spring – we stretch it too much and we put too much leverage. Too many people got greedy.”

In other trending Bitcoin News today: Bitcoin Taproot locked in to improve privacy and introduce smart contracts. The Bitcoin Taproot upgrade will activate later in 2021 as developers urge to create applications that will leverage its advantages.

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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-will-go-all-the-way-to-160-000-this-year-says-celsius-ceo

https://cointelegraph.com/news/bitcoin-taproot-locked-in-to-improve-privacy-and-introduce-smart-contracts

https://cointelegraph.com/news/bitcoin-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range

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Payments platform Strike has announced that it will allow U.S. customers to buy and sell Bitcoin with almost no trading fees from today. 

In an announcement on July 1, Strike founder and CEO Jack Mallers launched a salvo at leading U.S. cryptocurrency exchange Coinbase, stating that his platform will set out to be the “cheapest and easiest place on the planet to acquire BTC.”

Mallers added that the aim is to drive prices in the market as close to nothing as possible, which would be in keeping with Bitcoin’s ethos. 

“Our mission is to secure financial freedom for all, and we won’t stop until we do so for all 8 billion people on the planet.”

In other trending Bitcoin News today: “Bitcoin May Hit $250,000, This Analyst Predicts An Incredible Price Surge!”

Because of its volatility, the Bitcoin market is a new market every day. The outcome is always surprising, no matter how well one predicts the future. 

These were the thoughts of Scott Melker, called “The Wolf of All Streets”. He picked up the monthly chart in his most recent analysis video and brought up some fascinating observations.

“Even if it went next month to the top of the channel (the upper trend line), that’d be $158,000, a month later 168, 176 you see it takes a few months…That gets us to those 230, 250, 280 thousand targets”

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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:

Bitcoin May Hit $250,000, This Analyst Predicts An Incredible Price Surge

https://jimmymow.medium.com/announcing-the-bitcoin-tab-133fffc5f668

https://cointelegraph.com/news/strike-to-offer-no-fee-bitcoin-trading-taking-aim-at-coinbase-and-square

https://cointelegraph.com/news/bitcoin-bounces-at-key-range-amid-hope-btc-price-will-avoid-big-nuke

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The world will be “nasty” if Bitcoin hits stock-to-flow’s BTC price predictions of $288,000 and higher, PlanB warns, as governments will fight for it.

The creator of the Bitcoin price model, which forecasts $288,000 for BTC/USD by 2024 will “go dark” if his BTC predictions come true.

Speaking on the latest edition of the Stephan Livera podcast on May 5, PlanB warned about the implications of his Bitcoin bull scenario. 

Stock-to-flow’s latest incarnation, S2FX, was released last week and increased its average Bitcoin price expectations five times compared to the previous version. For PlanB, despite the obvious satisfaction of BTC/USD increasing by an order of magnitude in line with stock-to-flow, the result would not be without its problems.

“I will go dark if the model is successful because if the model is successful, it will not be a pretty picture,” he said.  “It will be nasty, it will (be) maybe war — people have Bitcoins, some people don’t have Bitcoin, it’ll be some countries have Bitcoins, some won’t have Bitcoins, it will be the U.S. dollar losing its reserve status, it will be geopolitical, it will be military.”

In other trending Bitcoin News today:

Bitcoin Whales Have Been Buying En-Masse Since Early-2020: “Macro Bullish” Sign

Unlike traditional assets, where many transactions are hidden, Bitcoin is almost entirely transparent. 

One may not know who made a transaction or who owns an address, yet people can gain access to data of transactions.

It is a nearly inescapable fact that many have used to their advantage.

One can analyze the data in order to get an edge over their fellow investors and users. Noted on-chain analyst Willy Woo made this much clear, recently saying that Bitcoin data is printing a “macro bullish sign.”

Citing data from Glassnode, Willy Woo on May 5th noted that the population of large Bitcoin holders (1,000+ coins) has increased strongly since January’s lows.

This indicates these users have been in “solid accumulation mode,” which is a “macro bullish” trend:

“Whale population spotted increasing in the wild. They’ve been in solid accumulation mode since January unperturbed by the COVID crash.

This is macro bullish,” Woo said With just 5 more days to go until the infamous Bitcoin Halving, notably, retail investors have also been found to have recently been buying BTC.

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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:

Lol, this is not a tweet stating that it’s going to moon or what. Just in general doing pretty well.

Even a retrace to mid $6k is still ‘pretty well’ for $BTC.

— Crypto Michaël (@CryptoMichNL) May 5, 2020

I admit I like to rile you guys up. Once #Bitcoin collapse I won’t be able to do it as much. So I need to make hay while the sun shines, as it won’t shine for long.

— Peter Schiff (@PeterSchiff) May 5, 2020

https://cointelegraph.com/news/bitcoin-price-criss-crosses-9k-as-peter-schiff-warns-of-collapse

https://cointelegraph.com/news/bitcoin-stock-to-flow-creator-will-go-dark-if-btc-price-hits-6-figures

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Guggenheim Partners founder Scott Minerd says a $600,000 Bitcoin price is still in the cards, but investors may have to prepare for a further drawdown before BTC can start rising again. In an interview with CNBC, Minerd discusses the possibility of Bitcoin losing over 50% of its based on historical price action.

“Every major run-up in Bitcoin, there has been about an 80% crash. Now, that would make a lot of sense in a lot of ways because that would bring us back into the neighborhood of $15,000.”

“Our research shows that as a store of value, and that’s a debatable point, that if you were to compare it against gold, you’d be at somewhere between $400,000 and $600,000.”

In other trending Bitcoin News today: Bitcoin To Meteorically Rise 15x, Says Crypto Analyst Lark Davis. Davis believes BTC is poised to reach a six-figure price as its fundamentals continue to grow at an exponential rate.

“Bitcoin will go on to rival the market cap of gold this decade. That is a 15X from the current price, which will give a per unit price of $550,000 per BTC.”

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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/key-bitcoin-price-indicator-flashes-its-fifth-buy-signal-in-btc-history

TA: Bitcoin Stuck Near $35K, What Could Trigger A Strong Rally

➡️ REPLAY – TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net

Economist and former Goldman Sachs hedge fund manager Raoul Pal says unprecedented global economic downturns could help underpin Bitcoin as the world’s reserve currency.

And what might that do for the Bitcoin price? Pal says he believes BTC could skyrocket all the way to $1 million before the next halving, which will occur in about four years.

Due to the devastation Covid-19 has caused the global economy, Pal says there’s a high probability that a new financial system will emerge that relies on digital currencies in multiple formats.

Pal, the founder and CEO of the Global Macro Investor, believes the market is betting on the Covid-19 recession/depression to last six months.

He thinks, however, that it’s more likely to last three years.

“It’s not clear how long it will take, but if this is a recession or depression, which I think it may well end up morphing into, and it drags on three years, I think three years would be the time horizon where they’re gonna have to do something, because I fear that the dollar is going to rise dramatically over this period of time, and basically that’s a wrecking ball to the global economy, the U.S. economy, and creating deflation as we go and a whole bunch of other problems.” 

That global economic crisis could, however, correspond with a Bitcoin explosion. When utilizing a log price scale to get a long-term outlook, Pal says the BTC price is on a path toward $1 million.

“When you look at the chart in a log scale, it looks also very extraordinary, because what’s useful about these kind of triangle patterns – I call them wedges – is that usually the size of the pole of the flag is repeated again. Now, if you did that using the log chart, it would take you to $1 million in this halving. Is that possible? Who the hell knows. I think it is. But it wouldn’t match the stock-to-flow model which says it might spike to [$250,000] or something like that.”

In other trending Bitcoin News today:

Bitcoin Climbs Past $9.5K as Analysts Stress ‘Decoupling’ From Stocks

A fresh surge sees BTC/USD well on its way back to $10,000 as the impact of its weekend crash continues to dissipate.

Bitcoin (BTC) rose to reclaim $9,500 on May 14 as the recovery from last weekend’s $1,200 crash gained fresh momentum.

Bitcoin’s futures this week contrast it even further with traditional markets and macro assets.

This stock “decoupling,” which Cointelegraph reported on previously, shows no signs of abating. 

As Cointelegraph analyst Scott Melker wryly summarized on Twitter:

“Remember that day that stocks dumped and Bitcoin went up? That was today. And yesterday. They’re not correlated now, and they weren’t correlated before. Thanks.”

For fellow analyst Michaël van de Poppe, paying too much attention to correlating markets in times of crisis and afterward was a dangerous game.

“When shit hits the fan (which was in March), all correlations tend to go towards 1,” he tweeted on Thursday: 

“Since then, gold, silver & Bitcoin have been resilient for any downwards move and showing strength apart from the equity markets. Don’t pin yourself on those correlations.”

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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:

When shit hits the van (which was in March), all correlations tend to go towards 1.

Sinc then, gold, silver & #Bitcoin have been resilient for any downwards move and showing strength apart from the equity markets.

Don’t pin yourself on those correlations.$BTC

— Crypto Michaël (@CryptoMichNL) May 14, 2020

Remember that day that stocks dumped and Bitcoin went up? That was today. And yesterday. They’re not correlated now, and they weren’t correlated before.

Thanks.

— The Wolf Of All Streets (@scottmelker) May 14, 2020

https://cointelegraph.com/news/bitcoin-climbs-past-95k-as-analysts-stress-decoupling-from-stocks

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Bitcoin advocate Max Keiser, host of the Keiser Report and Orange Pill Podcast, says his BTC price target for this year remains at $220,000, despite the FUD that has crept in over the past couple of weeks. 

On that, Keiser added that volatile downswings in Bitcoin are part and parcel of its nature. But on higher time frames and over its 10+ year history, it has still provided 200% annualized gains. 

“We’ve been doing this for ten years, we’ve had fifteen of these corrections over the past twelve years, and this current one is an average one. Nothing special. Number two, it always shakes out the weak hands…”

In other trending Bitcoin News today: Bitcoin and Crypto Assets To Trigger Largest Redistribution of Wealth in History, Says Macro Guru Raoul Pal. 

Real Vision founder and macro analyst Raoul Pal says a historic transfer of wealth is coming as money flows out of legacy finance into Bitcoin and crypto assets. 

“What is happening is a parallel financial system – and even more than a financial system, it’s the new digital architecture of the world – is being built. There’s a new promised land and people are migrating across at unbelievable speed.

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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://cryptoslate.com/bitcoin-proponent-max-keiser-sticks-with-220000-btc-price-prediction-by-2022/

https://cointelegraph.com/news/willy-woo-rick-astley-hodlers-a-key-force-again-and-on-chain-signals-suggest-recovery

https://cointelegraph.com/news/bitcoin-bulls-must-now-defend-33k-support-after-5-daily-loss

➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net

Bitcoin isn’t even past $10,000 — let alone the latest all-time high of $20,000 — but analysts are already craving the crypto market’s next parabolic bull rally.

While this rally has yet to arrive, a prominent cryptocurrency chartist has indicated that it’s close.

He pointed to a crucial and rare technical formation that marked the start of Bitcoin’s last macro bull trend, which brought the BTC price from $200 to $20,000.

Depending on what chart you look at, today or within the next few days, Bitcoin will print what is known in technical analysis as a “golden cross.”

Investopedia describes a golden cross as a “candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average.”

In BTC’s case, the 50-day simple moving average will cross above the 200-day simple moving average for the second time this year.

This golden cross is bullish in and of itself: golden crosses, as I analyzed, have historically led to massive gains for Bitcoin.

Yet the exact context the cross is taking place could signal even greater gains are in the works.

Analyst Nunya Bizniz recently shared the two charts below with the following comment, indicating that the last time Bitcoin’s 50 and 200-day moving averages looked as they do now, the cryptocurrency rallied 6,400%:

“Bitcoin daily chart: for the first time during the 2015 lows, there was a golden cross, death cross, golden cross sequence that occurred all within the span of about 100 days. Price then rallied 6,400%. For the 2nd time at 2020 lows, this sequence has agains occurred within about 100 days.”

It isn’t only this technical formation suggesting Bitcoin has another period of dramatic growth on its horizon.

Tuur Demeester — founding partner of Adamant Capital, a Bitcoin alpha hedge fund — recently shared that he thinks BTC is ready to rally towards the $50,000-100,000 range.

Such high prices may seem like a quixotic dream, sure, but according to the long-time industry analyst, a five-figure and six-figure BTC making more and more sense due to fundamentals.

Demeester specifically cited the ongoing macroeconomic environment as a way to back his prediction, zeroing in on the money printing by governments and central banks alike:

“I think a price target of like $50,000 is not insane at all, especially given just how crazy the money printing is. I would even say between $50,000-$100,000.”

In other trending Bitcoin News today:

Ethereum, Litecoin, Chainlink and 4 More Altcoins Poised for Major Rallies in New Market Cycle, Says Crypto Analyst DataDash

Crypto strategist Nicholas Merten is naming seven altcoins that he believes are in a good position to surge in a new bull market cycle.

On the latest episode of DataDash, the crypto analyst examines when the altcoin market may begin to turn around.

“What it looks like [Bitcoin is] doing is possibly coming up here to around $11,000, breaking out of this very long-term wedge, breaking out above resistance, and making it support for the next coming months. If [Bitcoin] can do this and start to trigger the next cycle, this is actually very good news for altcoins.”

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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 daily:For the 1st time during the 2015 lows there was a GC-DC-GC sequence that occurred all within the span of about 100 days.Price then rallied 6,400%.For the 2nd time at 2020 lows this GC-DC-GC pattern has again occurred within about 100 days.

Price will ……………? pic.twitter.com/8i4V1EjQiY

— Nunya Bizniz (@Pladizow) May 18, 2020