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Bitcoin O.G. Max Keiser has said that the Bank of England (BoE) will scramble to buy Bitcoin before the digital asset trades at $1 million per BTC.
The host of the Keiser Report and Orange Pill Pod, Max Keiser responded to the Bank of Englandâs deputy governorâs recent warning about cryptocurrencies in a statement to Express.co.uk.
âBitcoin is designed to trigger a meltdown of the current fiat money banking system. This is a mathematically guaranteed outcome.
The bargaining phase will be their central bank digital currency stage and when that fails comes depression as the price tops $500,000 and then acceptance with the Bank of England scrambling to buy Bitcoin before it tops $ 1million per coin.â
In other trending Bitcoin News today: Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF!
On Oct. 17, Barry Silbert, the CEO of Grayscaleâs parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund.
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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/all-time-high-weekly-close-5-things-to-watch-in-bitcoin-this-week
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BLOOMBERG: BITCOIN CAN REACH 0K IN NEXT YEAR OR TWO!! BTC HAS NO TOP BECAUSE FIAT HAS NO BOTTOM!!
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As Bitcoin inches closer to its previous $20K all-time high, Bloomberg analyst Mike McGlone shared on Bloomberg TV that heâs bullish on whatâs next for the benchmark cryptocurrency in the future and even predicted a $170,000 BTC price point by 2022.
Bitcoin closed Thursday at $17,821, slightly above the previous day and also a new 2020 high. Itâs also the highest it has reached in the last three years.Â
With Bitcoin now less than $2,000 away from its previous high of just below $20,000, analyst Mike McGlone from Bloomberg believes the dominant crypto is not yet finished in its ascent.
McGlone said that since Bitcoin added one in front of its number compared to last year, it will likely add a zero to the back of its number next year or by 2022.Â
âIf you look at past performance, which is potentially indicative of the future, next year or two could add a zero to the back of the number,â he said on Bloomberg TV.
Bitcoin ended 2019 at $7,000 and is now at $17,000. This means McGlone was right that the cryptocurrency added a one at the front of its number.Â
If Bitcoin adds zero at the back of its number, thatâs a price of $170,000, as McGlone predicted.
McGlone pointed out that Bitcoinâs price increase is because of peopleâs perception that it is digital gold, Cointelegraph reported.Â
Gold, a store of value, has also breached past $2,000 in a new all-time high and is now consolidating. Â
With that, Bitcoin could likely be consolidating at this price point as well, with $20,000 only acting as short-term resistance.Â
âIâm afraid itâs probably going to do what gold did. It got to $2,000, and then thatâs been consolidating in a bull market since,â McGlone continued.
Finally, McGlone mentioned that institutional FOMO (fear of missing out) is also the likely reason why the new price run is different from the one in 2017.Â
Both Microstrategy, a billion-dollar company, and payments firm Square announced that they have put Bitcoin as part of their reserves. PayPal Holdings Inc. recently allowed U.S. customers to purchase Bitcoin.Â
In other trending Bitcoin News Today:
âPrice Target $300K? Bitcoin Has No Top Because Fiat Money Has No Bottom â Max Keiserâ
The hosts of RTâs Keiser Report, Max Keiser and Stacy Herbert, look at Citibank coming out with âmoonmathâ on bitcoin with a hugely bullish price target of $318,000 by December 2021.
Max says that he canât believe what Citibank is saying because it is becoming âeven more aggressiveâ on the price than John McAfee who has always been âcrazy beyond the pale price predictions.â According to Max, Citibank is now kind of âtaking the price prediction crown.âÂ
According to Max, more banks will be competing with each other to come up with higher and higher price predictions.Â
âBut none of them are going to capture the ultimate bull market number because remember, bitcoin has no top because fiat money has no bottom.â
4 Reasons Why Bitcoin Price Is On The Verge Of A New All-Time High
Earlier today the price of Bitcoin (BTC) hit $18,815 on Binance for the first time in nearly three years. Following the breakout, BTC is on track to see a new all-time high in the near term for four significant reasons.
The factors that make a new record high likely are growing institutional demand, reduced selling pressure, a spot-driven market rally, and the significance of the $18,500 resistance breach.
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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://www.rt.com/business/507167-bitcoin-price-has-no-top/
https://cointelegraph.com/news/4-reasons-why-bitcoin-price-is-on-the-verge-of-a-new-all-time-high
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TOP CRYPTO ANALYST PREDICTS â$180K MASSIVE BITCOIN SURGEâ, SAYS BTC IS TRAPPING SELLERS!!
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With Bitcoin hovering above $50,000, widely followed crypto analyst and trader Pentoshi is predicting a wild Bitcoin rally, with the leading cryptocurrency now primed to print a massive green daily candle.
â$49,893 as posted yesterday was the point of breakdown in May. Right now acting as support. BTC in my opinion trapping sellers and about to put a green candle where the sun doesnât shine for bears. $5,000 candle in a day seems like something thatâs being built.â
As for his bull cycle target for Bitcoin, Pentoshi believes that BTC could rally to as high as $180,000, marking a 250% upside potential from its current value of around $51,000.
âVertical accumulation innit âcolorizedâ 2012-2021.â
In other trending Bitcoin News today: On Tuesday, El Salvador will officially begin using Bitcoin as its national currency alongside the United States dollar.
Despite heavy warnings and even demands to abort the move from the likes of the International Monetary Fund and others, the countryâs president, Nayib Bukele, has held firm. Now, Bitcoin and its adoption will begin a major new experiment.
âBREAKING: At the same time El Salvadorâs bitcoin bill will become law, at 3pm September 7th, a huge Brazilian Reddit community, with more than 3 million members, will buy $30 in BTC each, remembering that Sep 7th is Brazilâs independence Day. More and more users are joining.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.
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KRAKEN PREDICTS IMMINENT ,000 BITCOIN (BTC) RALLY!! CHAINLINK TARGETING BY END OF 2020!!
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Major United States-based crypto exchange Kraken has released a report predicting that the Bitcoin (BTC) price will rally by between 50% and 200% in the coming months.
The report notes that Bitcoin posted a 21-month low for volatility on July 24 of just 23%, and stated that BTCâs 12 historic volatility lows (of between 15% and 30%) have typically been followed by a rally of 140% on average.
With August usually the third-most volatile month for BTC price fluctuations, Kraken is predicting that upward momentum produced by Bitcoin at the end of July will continue for several months to come.
Kraken emphasized that Bitcoinâs recent rally resulted in the second-strongest July for BTC price performance since 2011, noting that July was usually the third-weakest calendar month for Bitcoin.
Bitcoinâs 14.5% jump between July 27 to July 31 drove the monthâs overall performance to a 24% gain, positioning the market for continued momentum, according to Kraken. Prior to the move, July produced what the report describes as a âsuppressed pocketâ of weak volatility.
Ten of the 12 past instances of Bitcoin entering a suppressed pocket have been followed by gains exceeding 196%.
Kraken estimates that 44% of Julyâs total trade volume transpired during the final seven days of the month.
The report also notes that Bitcoinâs rolling 30-day correlation with gold jumped to a one-year high of 0.93 on July 31.
The spike comes after the monthly correlation fell to a 10-month low of -0.66 on July 2, contradicting predictions that gold and Bitcoin would emerge as popular âsafe-havenâ assets and move in-step throughout the COVID-19 pandemic and recession.
In other trending Bitcoin News today:
Analyst: Chainlink Targeting $32 by End of 2020 Amid Booming DeFi Market
ChainLinkâs (LINK) raging bull market may have more upside potential, according to one alternative investment analyst.
Timothy Peterson, a chartered financial analysts, says LINK, which is now the sixth-largest cryptocurrency after posting gains of over 500% in a year, appears ready to continue its parabolic rally and move higher by the end of 2020.Â
âDid some quick analysis of Chainlinkâs network growth rate and historical deviations in price put LINK at $32 by end of year.â
At that price, however, Peterson stresses that LINK would have difficulty sustaining itâs bullish momentum.
âInvestors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.â
ChainLink is a decentralized oracle network that connects real-world data such as interest rates and exchange rates to smart contracts on the blockchain.
The boom in the decentralized finance (DeFi) over the last few months has helped fuel the growth of parallel projects like ChainLink.
Michael Anderson, the co-founder of Framework Ventures, tells Forbes that the importance of oracle networks has become more apparent now that billions of dollars are locked up in DeFi products that rely on smart contracts.
âWe believe the value of LINK will track the value of the smart contract platform it is securing, meaning the long term market cap of LINK will eventually be larger than Ethereumâs current market cap today.â
DeFi Pulse shows that from early June, the total value locked in DeFi protocols grew from a little over $1 billion to almost $5 billion.
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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:
6/ The move above $11K is also significant because it:
+ Breaks #BTC out of its 2.5-year âpennantâ formation (what many believe to signal the next bull market cycle)
+ Makes a higher-high in the macro trend
+ Enters territory #Bitcoin has only occupied for 2.5% of its lifetime pic.twitter.com/j3Bw5EzSg9
â Kraken Exchange (@krakenfx) August 11, 2020
Did some quick analysis of #chainlink‘s network growth rate and historical deviations in price put $LINK at $32 by end of year, but that price would not be sustainable. Investors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.
â Timothy Peterson (@nsquaredcrypto) August 9, 2020
Chainlink (LINK) Soars 30% To New ATH, Dethrones Bitcoin Cash Spot
Analyst: Chainlink Targeting $32 by End of 2020 Amid Booming DeFi Market
https://www.coindesk.com/coinbase-to-offer-bitcoin-backed-loans-to-us-customers
https://cointelegraph.com/news/boom-kraken-predicts-imminent-bitcoin-price-rally-of-up-to-200
https://kraken.docsend.com/view/grpqdjb9c3h59i87
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