Best Places to Earn Interest on Your Cryptocurrency | Bitcoin Bears Target ,000

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Bitcoin price remains below key resistances, but this hasn’t stopped investors from becoming extremely bullish on BTC.

Key on-chain data indicates that the propensity that Bitcoin investors have to hold their coins is almost at all-time highs.

Along with accentuating the optimism of crypto-asset holders, this is also a similar trend seen at the start of the 2017 bull market.

Blockchain analytics firm Glassnode recently found that 60% of all BTC in circulation “hasn’t moved in over a year, showing increased investor HODLing behavior.”

The last time this much of the cryptocurrency was frozen was “right before the BTC bull market of 2017,” prior to the 2,000% rally that took Bitcoin from $1,000 to $20,000.

The accumulation habits of Bitcoin investors aren’t the only thing indicating another parabolic rally is near.

Analyst Nunya Bizniz recently shared the two charts below with the following comment:

“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.”

He’s showing that the last time Bitcoin’s 50-day and 200-day simple moving averages looked almost exactly as they do right now, the asset rallied 6,400% in the year that followed.

Fundamentally, this makes sense.

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.” Golden crosses show that “a bull market on the horizon and is reinforced by high trading volumes,” the investment knowledge website added.

In other trending Bitcoin News today:

ANALYST: BITCOIN MARKET STRUCTURE LOOKS VERY SIMILAR TO $10,500 FEBRUARY HIGH

Since bottoming at $8,600 over five days ago, Bitcoin has performed extremely well.

The asset rallied as high as $9,650 on Thursday, liquidating dozens of millions of dollars worth of shorts in the process.

Simultaneously, Ethereum saw a massive breakout past a crucial level, suggesting that BTC has room to the upside.

Even still, a top trader has suggested that Bitcoin’s recent price action is looking much like the price action seen at the February year-to-date top.

A crypto trader recently shared the image below, showing that Bitcoin’s recent price action looks eerily similar to that seen at the February highs of $10,500.

Both periods have similar phases, including a triple-topping pattern indicative of a potential reversal. Should BTC trade as it did after February highs, a strong drop could ensue in the following weeks.

It isn’t only the similarities in the market structure suggesting Bitcoin is topping in the $10,000 range. One prominent crypto trader recently shared the chart below of BTC’s price action since the start of the year with Bitfinex order book data overlayed.

The chart indicates that there is currently a mass of sell-side orders in the $10,000-10,300 range.

This is important as when Bitcoin rallied to and was rejected by the $10,000 range two times over the past month, there was also a sell wall in that range.

This chart also shows that when BTC topped at $10,500 in February, it also ran into a confluence of sell orders at $10,500.

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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:

Some people say re-accumulation. Some people say distribution. So far the structure is closely resembling the distribution of the last highs, albeit with more volatility pic.twitter.com/Km5N2epUsb

— joshnomics (@joshnomics) May 29, 2020

In spite of $BTC‘s mild -4.4% downswing today, its NVT looks healthy, and our model is showing a semi-bullish signal. The amount of unique tokens being transacted on #Bitcoin‘s network is slightly above average for in May, according to where price levels currently sit. 👍 pic.twitter.com/3BIcqTS3VN

— Santiment (@santimentfeed) May 22, 2020

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

The Last Time This On-Chain Signal Was Seen, Bitcoin Rallied 2,000%

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“The Bitcoin price will skyrocket to $100,000 before 2023 comes to a close”, says the pseudonymous Crypto strategist who accurately forecasted the BTC price collapse from $11,600 to $6,400 in 2019.

Trader Dave the Wave is now marking the moment when he believes Bitcoin (BTC) will break out and begin its ascent to $100,000.

Dave tells his 37,000 Twitter followers that Bitcoin is slowly grinding up in an effort to take out its all-time high around $20,000.

“And the standard use of a technical pattern, known as the breakout of an ascending triangle, gives a target of 100K.”

Based on Dave’s chart, crypto enthusiasts would have to wait until the end of 2021 before Bitcoin catches fire and erupts.

The trader predicts that Bitcoin will skyrocket to $100,000 before 2023 comes to a close.

The crypto analyst also highlights that the slow climb will set the stage for a massive BTC explosion.

However, Dave acknowledges that just like any other prediction, his analysis can be wrong and BTC can surge to $100,000 ahead of 2023.

The trader shares a conversation that he had with PlanB, the first analyst to apply the controversial stock-to-flow model to Bitcoin.

In the thread, PlanB asked whether Dave’s model would be proven incorrect should Bitcoin climb above $100,000 before December 2021.

Says Dave….

“It would certainly be in extremis. The log growth curve could accommodate a brief spike to that price but price carrying on higher would invalidate/falsify the curve.”

In other trending Bitcoin News today:

World’s largest sovereign wealth fund indirectly holds almost 600 Bitcoin

Mainstream finance giants may hold more Bitcoin than you think.

The Norwegian Government Pension Fund, also known as the Oil Fund, has over $1 trillion in assets, including 1.4% of all global stocks and shares.

It is considered the world’s largest sovereign wealth fund.

According to Arcane Research’s report on Sept. 19, the fund also owns almost 600 Bitcoin (BTC) through its investment holdings.

Arcane Research analysis data shows that the Norwegian oil fund has 577.6 BTC through its investment in business intelligence firm MicroStrategy.

This puts the company’s portfolio in BTC at around $6.3 million.

The Norwegian Government Pension Fund has a 1.51% stake in MicroStrategy.

Michael Saylor, MicroStrategy founder, said in a recent tweet that the company owns 38,250 BTC.   

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”

In addition, two other major investment advisory companies, BlackRock Fund Advisors and the Vanguard Group, have a 15.24% stake (5829.30 BTC) and a share of 11.72% (4482.90 BTC), respectively. 

BlackRock currently is the biggest shareholder in MicroStrategy, indirectly holding BTC.

The Vanguard Group is an American investment advisor with about $6.2 trillion in global assets under management (AUM) as of January 31, 2020.

It is the largest mutual funds provider and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock’s iShares.

BlackRock Fund Advisors, on the other hand, has $7.3 trillion in AUM. 

MicroStrategy has made a lot of headlines in the past few days as it announced a bold plan to invest in Bitcoin.

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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 considering network dominance in the crypto industry, I find it clarifying to separate crypto-asset networks like #Bitcoin from crypto-application networks like Ethereum & stablecoins. Bitcoin dominance has advanced from a low of 71.05% on December 20, 2017 to 93.57% today. pic.twitter.com/03cbWVyoLY

— Michael Saylor (@michael_saylor) September 20, 2020

https://cointelegraph.com/news/bitcoin-price-hits-1-week-low-as-us-dollar-currency-index-aims-higher

https://cointelegraph.com/news/worlds-largest-sovereign-wealth-fund-indirectly-holds-almost-600-bitcoin

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Bitcoin could surge to $100,000 by the end of 2021, according to the crypto investor Anthony Pompliano. 

BTC traded as high as $19,389 on Wednesday and is nearing its all-time high, reached in 2017.

Pomp, a cofounder of Morgan Creek Digital, told CNBC on Wednesday that demand for Bitcoin was rapidly outpacing supply, especially after its “halving” in May, when the number of Bitcoins awarded to miners was cut in half. 

This occurs roughly every four years and serves to limit the supply of BTC coming into the market. 

Bitcoin is “the winner of a supply-and-demand exercise,” Pompliano said.

Pomp added that the macroeconomic environment right now was “rocket fuel” for Bitcoin. 

Low interest rates, money printing, and the Federal Reserve’s average inflation target of 2% have driven retail and institutional investors into BTC, he said.

The investor also said that Janet Yellen, President-elect Joe Biden’s pick for treasury secretary, was “notorious” for tolerating higher levels of inflation and that this could also push the BTC price higher.

“I don’t think it’s that crazy to see a $100,000 Bitcoin price by the end of 2021,” Pompliano said. 

“And if we continue to get bigger and bigger buyers … if this kind of tips over and all of the sudden it becomes kind of a consensus trade, it wouldn’t surprise me to see something even higher than $100,000.”

Bitcoin has surged by roughly 160% this year as more major investors and institutions acknowledge the cryptocurrency’s legitimacy as a store of value. 

The billionaire hedge-fund manager Stanley Druckenmiller told CNBC earlier this month that he owned a “tiny bit” of bitcoin as a hedge against inflationary pressure, while the venture capitalist Chamath Palihapitiya said in February that every citizen should hold 1% of their assets in bitcoin because it’s a “fantastic hedge.”

Despite his bullish view, Pompliano shared two potential risks he sees for Bitcoin.

“The first thing’s a self-inflicted wound, right, if there’s a bug introduced into the code or something like that,” he said. “The second thing would be some sort of geopolitical risk where we saw a really aggressive coordinated kind of action by multiple nation-states.

“But again, I think that those things are very low probability of occurring, so it doesn’t really kind of seem like that’s going to happen in the short term.”

In other trending Bitcoin News today:

How Massive Liquidations Caused Bitcoin to Plummet 16% in 24 Hours

Bitcoin fell by a whopping 16% to $16,334 on Nov. 26 since achieving its peak at $19,484 the previous day. Data suggests that cascading liquidations were the driving force of the massive correction.

Prior to the pullback, the open interest of the Bitcoin futures market hit a new record high. The derivatives market was also overheated with buyers, causing the market to sway to one side.

The combination of two factors triggered a rapid BTC price drop alongside a spike in futures trading volume.

Over a billion dollars worth of futures contracts were liquidated, similar to the March 12 crash. The Chicago Mercantile Exchange, for example, saw $1.8 billion in volume — its highest ever, according to Skew.

As the price of Bitcoin started to drop, inflows into exchanges spiked. This indicates that whales, or high-net-worth investors, were selling heavily on major exchanges, including Coinbase.

Ki Young Ju, the CEO of CryptoQuant, pointed out that the All Exchanges Inflow Mean indicator was showing the selling pressuring coming from whales.

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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:

Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I’m concerned that this would have unintended side effects, and wanted to share those concerns.

— Brian Armstrong (@brian_armstrong) November 25, 2020

Bitcoin Falls as Mnuchin [Reportedly] Plans to Regulate Private Wallets

https://markets.businessinsider.com/currencies/news/bitcoin-price-bullish-view-anthony-pompliano-halving-supply-demand-record-highs-2020-11-1029839786

https://cointelegraph.com/news/how-massive-liquidations-caused-bitcoin-to-plummet-16-in-24-hours