BILLIONAIRE INVESTOR BILL MILLER PUTS 50% OF NET WORTH IN BITCOIN, SAYS BTC CAN GO UP 50X!!

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

Real Vision Finance co-founder Raoul Pal says a $1 million price tag on Bitcoin could be in the cards for this BTC bull cycle.

In an interview with Peter McCormack on the What Bitcoin Did podcast, the former Goldman Sachs executive says that the seven-figure mark is his peak bull cycle target for the flagship cryptocurrency if the BTC chart goes parabolic to the extent it has in previous cycles.

“I’ve peaked at a million but not for this cycle, but it’s possible that we overshoot. So I just use the regression line and used the trend of the [logarithmic] scale, and basically it says somewhere between PlanB’s [stock-to-flow model prediction] and $400,000 is right, but it could actually hyperextend to get as high as it did from the trend in 2013 which would give us $1 million. So I think it’s skewed slightly higher than people expect so I don’t think it gets to $1 million but we’ve got institutions coming in, who knows how this dynamic changes.”

The macroeconomics expert foresees some key hurdles that Bitcoin will have to overcome in its path towards its cycle top, including Coinbase’s initial public offering (IPO).

“The other thing for people to bear in mind is that there’s a couple of price hurdles that are coming up that people haven’t thought through. The first one is Coinbase’s IPO. If you are an institution who wants to buy Bitcoin and you’ve got to get through all this rigmarole to get it signed off and the Coinbase IPO comes out and it’s a $60 billion company, and you can stick a few billion in, it’s a good enough proxy for a while. So my guess is that it’s going to take out a lot of demand from institutions in the short term.”

Pal also highlights a key level as a potential psychological price barrier where many BTC investors will choose to take profits.

“The next big thing after that, I think $100,00 is going to be an issue because a lot of people got in at around $10,000. A lot of people have made 10 times their money and $100,000 is a round number, and people think, ‘Let me take half my chips off the table’ so I think we might see a longer correction.”

Pal predicts Bitcoin will reach that $100,000 range this June, a level where he expects a lot of profit-taking to happen.

In other trending Bitcoin News today:

Bitcoin Price Rally to $61,800 Shows BTC Bulls Are In Full Control

On March 13 bulls took full control of the crypto market as Bitcoin (BTC) price vaulted to a new all-time high at $61,844 after a high volume surge pushed the price through overhead resistance near $58,000.  

Analysts had spent the week calling for an eventual move above the $60,000 level and social metrics showed bullish sentiment for Bitcoin continued to increase as a number of companies and institutional investors announced plans to make BTC purchases. 

Bitcoin now finds itself in the realm of price discovery as there is limited data available from a technical analysis standpoint to determine where the price may go next.

One possible price target was highlighted in a recent report from Decentrader co-founder Philip Swift, who is now looking at the 1.618 fib extension ($70,000) as the next take profit level.

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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:

💥💥💥 “The people that lost a lot of wealth in 2008, primarily people of color are now getting raked over the coals again through this inflationary pass at their assets. Again, remember #bitcoin is unconfiscatable…” – @MaxKeiser

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) March 13, 2021

Russell Okung announced in December he was converting half of his $13M salary into Bitcoin.Bitcoin was $27,000.

Now, with the price at $61,000, @RussellOkung turned his $13M annual salary into over $21M.

This increase makes Okung one of the 30 highest-paid NFL players today. pic.twitter.com/xXX970Ng8H

— Joe Pompliano (@JoePompliano) March 13, 2021

They only reason that you think $61k per #bitcoin is expensive is that you haven’t seen $610k per #bitcoin. If you had, you’d think $61k is a deep discount. If you make decisions based on past prices you’re going to make mistakes, instead look at the fundamental value of #bitcoin

— Pierre Rochard (@pierre_rochard) March 13, 2021

https://cointelegraph.com/news/bitcoin-price-rally-to-61-800-shows-btc-bulls-are-in-full-control

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Popular Crypto Analyst Josh Rager makes a comparison between the Bitcoin price 10 weeks after the BTC halving in 2016 versus 2020.

“BTC – 10 weeks after halving (2016 vs 2020)

2016 halving: led to over 3000% gains in about 525 days

2020 halving: just getting started”

Someone pointed out, “Totally different situation, Pandemic and global recession” in which Rosh Rage responded…

“Yes and notice I didn’t put BTC at 3000% gains… I put it at like 1/3 that. I know there is nothing sensational about it. Still expect it to move up to new highs. Don’t know if that is 25k or 50k – all we can do is trade it accordingly”

BITCOIN HAS ROOM TO RALLY, SAY ANALYSTS

BTC’s ongoing breakout has allowed it to deny a bearish market structure that was set to send the asset plummeting, said an analyst on Jul. 22.

He specifically made reference to how Bitcoin invalidated a potential descending triangle and diagonal resistance during its recent move higher.

“Multiple failed attempts to send price lower soaked up at daily demand & the monthly open for BTC. Yesterday’s 1D close posted a higher high breaking MS on the daily. Metals, equities, alts, all ripping higher… may be time for the best asset of the past decade to now.”

This analyst did not convey a price prediction in the abovementioned analysis.

But in previous analyses, the trader has noted that Bitcoin is primed to move above $10,000, then $11,000.

The optimism was echoed by another analyst, who suggested that Bitcoin’s ability to surmount $9,500 is positive.

Referencing the chart below, that analyst opined:

“BTC HTF Update: Looking good still, seems as though $9300 is holding as support but even if we pullback to around $9200 that’s fine and we should be looking good for another leg upwards. Really want to see if bulls have the power to break $9500 as this is where the party starts.”

In other trending Bitcoin News today:

Little-Known Crypto Asset Skyrockets 10,000% As Analysts Track Nascent DeFi Market

A little-known cryptocurrency is the latest to send shockwaves through the industry after rising over 10,000% just a few days after it launched.

The crypto analysis platform Santiment is tracking the performance of YFI, the governance token of decentralized finance (DeFi) protocol yearn.finance.

An analyst at Santiment explains that the token helps investors generate passive income by leveraging platforms that offer the best yields.

“In a nutshell, YFI is something that makes you money, good ton of money. It is the only thing right now in the DeFi market that gives you the highest yield…

How it does that is by taking whatever you deposit, and it actually goes around and searches all the other platforms, whatever protocols are out there, and finds the best yields in the area and then deposits over there, ensuring that you get the best yields. Think of it as an automated yield aggregator.”

While its creator Andre Cronje insists that YFI has no financial value, the market begs to differ.

The native token of yearn.finance traded at $31.65 on July 18th before exploding to an all-time high of $3,458.31 on July 25th – a meteoric rise of 10,828.6% according to CoinGecko.

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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:

Totally different situation
Pandemic and global recession

— Crypto Damus (@AstroCryptoGuru) July 23, 2020

Why One Prominent Chess Grandmaster is Bullish on Bitcoin Adoption

Bitcoin’s Latest Surge Higher Is Extremely Positive: Factors to Consider

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The U.S. dollar is getting so weak that even Warren Buffett is getting out and Bitcoin (BTC) will see all-time highs, says Max Keiser.

In his latest forecast for macro, the RT host warned that safe havens would seriously outperform fiat.

Buffett, he implied, knew what was coming. “Buffett’s move into Japan, along with his gold investment, confirms he’s getting out of USD bigly,” Keiser wrote on Twitter on Monday.

“USD is trending lower today, about to break key support. Bitcoin – Gold – Silver Will all make new ATH in the near term.”

He was referring to Buffett’s move into Japanese assets, taking a 5% stake in the country’s five biggest trading houses in a move totaling $6 billion, Reuters reported.

“The five major trading companies have many joint ventures throughout the world and are likely to have more. I hope that in the future there may be opportunities of mutual benefit,” the publication quoted him saying.

The announcement came days after the Federal Reserve confirmed that it would let inflation rise above its 2% target as a temporary measure, something that weighed heavily on the dollar.

After volatility, the USD currency index (DXY) began plunging to new depths on Monday, bouncing off its lowest levels in two years.

Late in July, when those levels first appeared, Bitcoin saw a price jump to $12,500.

As Cointelegraph reported, expectations remain that further dives in the DXY will produce similar effects.

Buffett, meanwhile is well known for his macro moves, even as he remains a steadfast Bitcoin skeptic.

Last week, the so-called “Buffett Indicator” warned about a stock market crash, even as large-cap equities continued their climbs higher.

Prior to that, Anthony Pompliano, co-founder of Morgan Creek Digital, publicly bet on Buffett eventually buying Bitcoin after he revealed his move into gold.

At the time, Keiser claimed that the gold entry alone would spark a run among investors, helping push BTC/USD to $50,000. P

erhaps Buffett’s most famous quip about Bitcoin is from 2018 when he referred to cryptocurrency as “rat poison squared.”

In other trending Bitcoin News today:

Federal Reserve’s Major Policy Shift to ‘Push Up Inflation’ Could Send Bitcoin Price to $500K

The U.S. Federal Reserve has announced a significant policy change to push up inflation. Bitcoin is set to greatly benefit from this policy change.

Not only the price of bitcoin could surge past $500K, but a number of companies have also begun moving their reserves into the cryptocurrency to hedge against higher inflation.

Bitcoiners view the Fed’s announcement as bullish. Following Powell’s speech, a number of people took to social media to remind others of the benefits bitcoin offers.

Mimesis Capital Louis Liu wrote, “Powell is friend of bitcoin,” while many others chimed in to just say “buy bitcoin.”

Abra CEO Bill Barhydt commented:

“Bitcoin doesn’t need the Fed to succeed but if they insist on throwing gasoline on the fire then so be it.”

“The Fed, under the leadership of Jerome Powell, continues to be Bitcoin’s biggest booster,” Gemini Exchange co-founder Tyler Winklevoss wrote.

He made a case on Thursday for a $500K bitcoin as “ultimately the only long-term protection against inflation.”

He explained that the price of the cryptocurrency could appreciate 45 times from today’s price, meaning it could hit $500K per coin or even higher.

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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 #BITCOINBullish. Reached the $12,000 area that I’ve pointed since the low.

Would like to see consolidation above $11,600 here. If that happens, we’ll most likely see a rally towards $12,400 and new highs. $ETH already painting the way. pic.twitter.com/Kcf6y8PvRF

— Crypto Michaël (@CryptoMichNL) September 1, 2020

Buffett’s move into Japan, along with his $GOLD investment, confirms he’s getting out of $USD BIGLY $USD is trending lower today, about to break key support #Bitcoin – Gold – Silver

Will all make new ATH in the near term

— Max Keiser (@maxkeiser) August 31, 2020

https://news.bitcoin.com/federal-reserve-inflation-bitcoin-price-500k/

https://cointelegraph.com/news/huge-ethereum-buy-wall-sends-eth-to-a-19-month-high-against-bitcoin

https://cointelegraph.com/news/bitcoin-will-hit-new-high-in-near-term-as-buffett-exits-usd-keiser