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Right now, with the Bitcoin market cap sitting just under $1 trillion, BTC is only a very tiny fraction of the worldâs assets combined. So in the grand scheme of crypto, this is why many analyst believe weâre still so early.
âIf Bitcoin captures just 5% of the market cap of other assets on this chart, itâll be worth over $2M/coin.â
In other trending Bitcoin News today: Bitcoin bears lack âballsâ to continue selling into 2022!
BTC bears will probably be too âstonelessâ to keep prices down much longer, fresh Bitcoin price analysis argues.
In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoinâs recent 39% correction.
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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/billionaire-investor-bill-miller-puts-50-of-net-worth-in-bitcoin
https://cointelegraph.com/news/world-s-biggest-podcaster-joe-rogan-has-a-lot-of-hope-for-bitcoin
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CONTROVERSIAL BITCOIN PRICE MODEL PLACES 'EXACT DATE' ON WHEN BTC WILL SHATTER 0,000!!
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We can expect the Bitcoin price to shatter $100,000 on this âexact dateâ according to one of the most controversial BTC analysts in Crypto.
Using the stock-to-flow model (S2F), which divides the amount of Bitcoin in circulation by the amount of BTC mined per year, PlanB believes BTC is set to be over $100,000 on August 16th, 2021.Â
The high-profile crypto analyst retweeted a post from Dutch entrepreneur Marc van der Chijs on the viability and timing of the S2F model.
âMost people think this is impossible, but I have seen a 1,000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again, anything is possible.âÂ
PlanB was the first analyst to apply the S2F model to Bitcoin.
Although it has plenty of critics, predictions from the model have so far been highly accurate.Â
Over the weekend, the quantitative analyst told his 123,000 Twitter followers that the stock-to-flow ratio continues to be in step with Bitcoinâs price action.
â3rd red dot (currently $11,850) above 2nd red dot (bitcoin July close $11,356) and above 1st red dot (June close $9,132)⊠next target: December 2017 ATH close $14,000.â
In other rending Bitcoin News today:
ANALYST: BITCOIN COULD SURGE TO $17,000 ONCE THIS CRUCIAL LEVEL IS BROKEN
Analysts are now closely watching to see how BTC continues responding to $12,000, as it has yet to catalyze any sharp selloff during this latest push higher. While speaking about Bitcoinâs near-term outlook, one analyst explained that in an optimistic scenario, the cryptoâs price could push as high as $17,000.
That being said, he also notes that there are hurdles in the way, with $13,000 being the first region he is watching.
âBitcoin: Given the significance of this level, Iâm starting to think this is becoming a very likely scenario. However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area.â
For this possibility to play out â or even come close to coming to fruition â it is imperative that Bitcoin breaks past $12,000 with decisive force.
EX-PRUDENTIAL CEO DOES A U-TURN: IT IS TIME TO BUY BITCOIN
In an interview with Fred Katayama of Reuters, Mr. Ball, who currently serves as the Chairman of the investment firm Sanders Morris Harris seemed to showcase a more positive stance towards Bitcoin.
Previously, George was a hater of the worldâs top cryptocurrency and blockchain technology.
But now he thinks that Bitcoin makes for an attractive long-term investment. According to him:
ââŠitâs where many people will turn after Labor DayâŠâ Ideally, as an investor, he would either want âto make a safe haven for my money or a short-term speculative bet.â
The ex-Prudential boss remarked that the current scenario in stock markets is boring, and the âliquidity floodâ is the only thing thatâs keeping things afloat.
But that will soon end. Mr. Ball said that the continuous flurry of stimulus packages would eventually return to bite back the government, and added that: He thinks that âtraders and investors should realign their portfolios substantially,â and allocate sections of their portfolios to Bitcoin.
Why? Because BTCâs ââŠsomething that canât be undermined by the government, and it wonât become worthlessâŠâ And thatâs why wealthy traders and investors could probably turn to Bitcoin, as âthere are no yields today.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.
Show Notes / Resources:
$BTC #BITCOINGiven the significance of this level, I’m starting to think this is becoming a very likely scenario.
However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area. pic.twitter.com/jSeAuyRhCp
â Crypto MichaĂ«l (@CryptoMichNL) August 15, 2020
No, $288k is the average in roughly mid2020-mid2024
â PlanB đŽ đŽ đŽ (@100trillionUSD) August 17, 2020
Most people think this is impossible, but I have seen a 1000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again anything is possible. https://t.co/rOf63ud0zK
â Marc van der Chijs â new account (@marcvanderchijs) August 16, 2020
Analyst: Bitcoin Could Surge to $17,000 Once This Crucial Level is Broken
https://cryptopotato.com/ex-prudential-ceo-does-a-u-turn-it-is-time-to-buy-bitcoin/
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Bitcoin Price Predicted to Skyrocket to 0K in 2020 by Silk Road Founder Ross Ulbricht | BTC News
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http://trade.cryptonewsalerts.netThe Bitcoin price could hit $100,000 as soon as in 2020 based on Elliot Wave Theory, according to Silk Road founder Ross Ulbricht.
âThus, we have a price and target for the end of wave I of ~$100,000 some time in or near 2020.â
Ulbricht claims that he has several Bitcoin charts sent him to a prison cell on a daily basis.
It takes about a week to put his letters online, which makes them slightly out of date.
However, he states that it doesnât matter since he only focuses on the coinâs long-term price action.
âThe charts we will be looking at show the price of a bitcoin in US dollars over time.âÂ
According to Ulbricht, the overall trend for Bitcoin is still up (despite a severe price correction).Â
The first cycle is divided into five waves that also feature âintermediateâ waves.
The end of the fourth wave market the bottom of the 2014-2015 bear market when the price of Bitcoin plunged to $175 in January 2015 before gearing up for its parabolic rise to the current all-time high (ATH) that was conquered back in December 2017.
Ulbricht further explains that the ATH could mark the end of the third wave while another bear market that started in January 2018 could be the fourth wave.Â
âIf the ~$20,000 peak is the end of wave (3), then the correction pattern we are in (or just came out of) is wave (4), and we can expect wave (5) to take us to new all-time highs.âÂ
However, if the fifth wave is still unfolding, the next bull run could last until February 2021Â and could ultimately take the price of Bitcoin to $100,000 as early as in 2020.Â
In other BTC news today:
Bitcoinâs scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate.
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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.coindesk.com/bitcoin-halving-could-leave-price-at-20k-50k-hedge-fund-manager-says
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BITCOIN MAY HIT #post_titleM AND TOP GOLDS MARKET CAP SAYS MACRO INVESTOR RAOUL PAL
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Influential investor Raoul Pal says the best trade heâs ever found is Bitcoin, which heâs described BTC as âa call option on the futureâ and âthe worldâs most pristine reserve asset.â
In a recent interview on Yahoo Finance, Pal said that the central banks move toward digital currencies is âliterally the biggest storyâ in his career.
Investors like Pal donât want to compete against central banks, but aim to create âa digital world,â Pal said, underscoring that despite big reservations, policymakers donât appear to want to ban crypto completely.
âThey understand the technology is out of the bottle. The genie is out of the bottle,â the investor said.
âThereâs nothing you can do about it. Itâs not going away. Itâs too small to matter still.â
Pal has stated repeatedly that bitcoinâs price could get to $1 million, becoming a $10 trillion asset class, and possibly surpassing the gold market.
In the last year, bitcoinâs price has surged more than 42% to last trade near $13,137. In the last month, the digital currency has jumped more than 22%.
With a market cap of around $240 billion, bitcoin is approximately the size of a âlarge, mid-cap S&P [500 Index] stock,â Pal pointed out.
As it moves to $500 billion or $1 trillion, âsuddenly itâs a real asset class and sucks in more money.â
One of the drivers will be the âwall of institutional moneyâ coming.
âIt becomes a Soros-style reflexive loop where weâve got the macro story backing it up,â said Pal â referring to George Soros, the speculative investor once credited with âbreakingâ the Bank of England in a bet against the British pound.
âWeâve got the flow of funds backing it up, then weâve got the move, which the central banks are driving. Itâs literally the biggest story Iâve seen,â Pal said.
What it means is more printing of currency. Thatâs not just the U.S. Itâs basically every single country on earth is doing the same thing.
In Palâs view, bitcoin âplays a role as the worldâs most pristine reserve assetâ for individuals, corporations, pension funds.
âItâs an incredible asset. Itâs the only one with a limited supply with growing demand. Itâs an extraordinary thing,â he said.
In other trending Bitcoin News today:
Bitcoin Monthly Candle Closes Above $13K For The First Time Since 2017
The monthly candle of Bitcoin (BTC) for October has closed above $13,000 for the first time since December 2017.
It comes after both daily and weekly candles all closed above the crucial resistance level.
Ark Investâs Cathie Wood emphasized the importance of the $13,000 level.
Wood, who manages $11 billion in assets under management at Ark Invest, said there is little resistance between $13,000 and $20,000.
This means if Bitcoin breaks out on a high time frame chart, the probability to rise to a new record-high could get higher.
She said:
âThat $13,000 [level] is important because if we were to get through that, then in technical terms, there would be very little resistance and we would probably be on our way back to the peaks we saw in late 2017 â so, around $20,000. Now, weâre not sure if that is going to happen. We could stay in a new trading range, just at a little bit of a higher level than the recent six to 10. Maybe weâre in the $10,000 to $13,000 range. Nonetheless, a breakout.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.
Show Notes / Resources:
https://money.yahoo.com/raoul-pal-on-bitcoin-as-a-reserve-asset-120007396.html
https://cointelegraph.com/news/bitcoin-monthly-candle-closes-above-13k-for-the-first-time-since-2017
https://cointelegraph.com/news/bitcoin-is-the-best-treasury-reserve-asset-humanity-s-ever-had
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