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

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Many analysts asserted that 2020 would be a strong year for the Bitcoin price long before the current global economic crisis began.

Most notably, the flagship cryptocurrency was expected to jump after May’s block reward halving.

New data now suggest that these BTC predictions are still on-track.

Analyst PlanB continues to stand by the assertion that Bitcoin’s stock-to-flow ratio points to extremely high gains after the halving.

This metric is determined by comparing present inventory to production and is a common tool used to gauge the value of hard commodities such as precious metals.

PlanB has just tweeted:

“So btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May.”

Thus, although a prediction of USD $70k may seem outlandish, it would be perfectly in-line with previous gains for the flagship cryptocurrency.

Also, there is no doubt that the capital exists to drive Bitcoin this high, as well as the public interest.

In fact, government responses to the impending recession may make Bitcoin and other cryptocurrencies even more attractive.

A just-published article on HackerNoon asserts that the banks and legacy financial companies are all but certain to receive massive bailouts, just as they did in 2008.

However, unlike twelve years ago, the infuriated public has the opportunity to put their assets into crypto, which will boost prices.

Author Mark Helfman writes: “Don’t underestimate the potential for this financial crisis to spur people into buying crypto and building businesses around crypto-based products, services, and processes.

People might get so angry that they look for an “out” that doesn’t involve the banks, governments, and corporations.”

It is worth noting that Bitcoin was born out of frustration with central banks, and the U.S. government’s willingness to prop up incompetent and corrupt financial institutions.

It is safe to assume that a repeat of this cronyism would only drive more investors into the crypto space.

Market activity notwithstanding, the development and adoption of Bitcoin and other cryptocurrencies are rapidly taking place.

Of particular note is the institutional embrace of blockchain technology by a wide range of industrial sectors.

Also, whereas fiat remains strong for purchases, the world is increasingly turning to crypto for remissions and financial transfers.

It is these real-world use cases that will play a key role in driving up Bitcoin’s value.

In other words, the central bank-issued fiat must now compete with a new asset class that offers many clear advantages.

When placed in this context, predictions of much higher Bitcoin prices are very realistic.

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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:

So #btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May🚀 pic.twitter.com/2pkCgOSAEN

— PlanB (@100trillionUSD) April 4, 2020

Bitcoin Just Passed $7,000 Yet Again: What Do Analysts Think Is Next?

Bank of Korea Begins Central Bank Digital Currency Rollout

Bitcoin Follows Pre-Bull Run Pattern That Sent Amazon Stocks Soaring

Will Bitcoin Price Hit $70,000 Post Halving?

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On Wednesday, just before Bitcoin surpassed the digital asset’s all-time high (ATH), the crypto analyst known as “Techdev” said the “2-week chart looks strong and ready for much higher highs.” 

Just 26 days ago, Techdev said that “$200-300K BTC looks almost too programmed” and this week, the analyst noted that we are “nowhere near a top.”

Also BTC_Archive tweeted this morning to his 550,000 Twitter followers: “The last time Bitcoin weekly RSI was at this level on the way up, the price was $13K and went up 5x. IF that repeats = $322K. We are just getting started!”

In other trending Bitcoin News today: Bitcoin Futures ETF Hits $1B AUM In A Record-Breaking Two Days!

Since the ProShares Bitcoin Strategy ETF started trading this week, it has become the fastest fund ever to reach $1 billion in assets under management (AUM).

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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://news.bitcoin.com/analyst-that-said-200-300k-bitcoin-looks-programmed-still-says-btc-price-nowhere-near-a-top/

https://cointelegraph.com/news/bitcoin-futures-etf-hits-1b-aum-in-a-record-breaking-two-days

https://cointelegraph.com/news/breaking-2-2t-asset-manager-pimco-plans-to-buy-more-crypto

https://cointelegraph.com/news/bitcoin-gains-2k-in-an-hour-after-btc-price-bounces-near-previous-all-time-high

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A prominent crypto trader and analyst says it is not yet too late for investors to jump into Bitcoin (BTC).

Based on Kaleo’s chart, Bitcoin is taking a page out of its 2017 bull market where it consolidated below $2,000 before surging to its previous all-time high of $20,000.

This time, the trader believes Bitcoin is setting the stage for a meteoric ascent that would catapult BTC to $250,000 by July 2021.

As for altcoins, the pseudonymous trader shares three alts that he says have the potential to spark major rallies.

Crypto Kaleo says fellow traders are underestimating Litecoin (LTC). He believes the coin often dubbed as digital silver is poised to follow its 2017 bull rally and generate gains of over 1,000% from its current price of $203.

“LTC 2017 fractal. If this plays out, there’s still time to accumulate, but you see why it’s worth it to slowly stack… 

Now is the time to stack LTC. Litecoin has vertical moves, usually from points of max pain vs. BTC. When it finally goes off, it’ll move faster than you have time to FOMO into it. Buy a little each day now. Thank yourself later.”

Another coin on Kaleo’s radar is Chainlink (LINK).

The trader believes the decentralized oracle network will follow the footsteps of Solana (SOL), which more than doubled its value in a span of a few weeks.

“LINK SOL.”

The third coin on Kaleo’s list is Algorand (ALGO), a project that aims to develop a blockchain that’s scalable, secure, and decentralized.

He says the crypto asset is gearing up to pull off a 242% rally to $6.00 from its current price of $1.75.

“Remember the big picture. ALGO is only just getting warmed up.”

Kaleo is also invested in Stellar Lumens (XLM), Balancer (BAL), and Band Protocol (BAND).

In other trending Bitcoin News today:

Bitcoin ‘Supercycle’ May Emerge In 2021 As Fed Balance Sheet Hits New Record High

Bitcoin (BTC) is looking increasingly like it is in a “supercycle,” not just a bull cycle, statistician Willy Woo suggests.

In a Twitter exchange on Feb. 12, the popular analyst joined Dan Held, growth lead at U.S. exchange Kraken, calling the current BTC market a bull run like no other.

Held had previously explained his theory about the state of Bitcoin in 2021 — that price gains cannot be compared to past bull phases, and do not even match the end of 2017 when BTC/USD neared $20,000.

Instead, this year is looking like a bull run on a wholly different magnitude — a “supercycle” in the making for Bitcoin.

In his own observations, Woo confirmed that data pointed to retail investors returning to Bitcoin in January.

“Retail has arrived. The last 4 weeks. Welcome to the middle phase of the bull market. This one is like no other,” he wrote.

When Held suggested that the supercycle had arrived with them, he responded that 2021 would provide confirmation.

“Can answer that with more confidence in Q4. Right now it’s only fundamental narrative, need to see if the capital flows validate it,” he continued.

“The setup has me leaning towards it.”

In an update this week, Rafael Schultze-Kraft, CTO of on-chain analytics resource Glassnode, estimated that should Thermocap repeat its 2017 performance, BTC/USD could hit $110,000.

“Last bull market, $BTC was at ~$8,500 when Marketcap to Thermocap was at the current levels – and surged another 135% to the top in just a month. Things can go fast,” he tweeted.

“Yea this time’s different, but just in case: 135% from here is ~$110k.”

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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:

#Fed balance sheet has hit a fresh ATH of $7.44tn last week, equivalent to 34.7% of US GDP. Fed’s balance sheet is smaller than #ECB’s, at 70.7% of GDP, and much smaller than those of SNB or BoJ where total assets are >100% of GDP. pic.twitter.com/bTQCsmTGYL

— Holger Zschaepitz (@Schuldensuehner) February 12, 2021

https://dailyhodl.com/2021/02/13/top-trader-says-hes-stacking-six-altcoins-predicts-bitcoin-will-approach-250000-by-july/

https://cointelegraph.com/news/bitpay-integration-brings-crypto-payments-to-apple-pay-s-380-million-users

https://cointelegraph.com/news/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high