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A high-profile crypto strategist and trader is keeping a close watch on five crypto assets that he believes are gearing up to blast off into the stratosphere. In a new tweet, the trader known as Smart Contracter tells his 136,500 followers that Bitcoin (BTC) is almost ready to break out of its three-month consolidation above $50,000 en route to a new all-time high.
âBTC breakout activated. $80,000 next.â
In other trending Crypto News today: Ethereum breaks $500 billion market cap for first time as ETH price hits new $4,350 high. On May 12, Ether price set another historic record, surging to as high as $4,346, according to data from CoinMarketCap. Etherâs market capitalization briefly surpassed $500 billion, reaching nearly $505 billion on Wednesday
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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:
đ„đ„đ„ Got this 24K gold crypto visa debit card w/ custom etched #Bitcoin logo b/c I closed out all my banks in the đșđž, donated the rest of my fiat to charity & decided to live off crypto versus USD. đđ pic.twitter.com/61jrgFMzxy
â Crypto News Alerts đ„đ (@CryptoNewsYes) May 11, 2021
https://cointelegraph.com/news/ether-breaks-500-billion-market-cap-for-first-time
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BITCOIN PRICE WILL SOON SHOOT TOWARDS K, THEN K PER BTC PREDICTS THIS EERIE SILVER FRACTAL!!
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A narrative has formed over recent months that the Bitcoin price is closely correlated with gold.
But according to a recent analysis shared by a crypto trader, BTC may actually be closely correlated with silver.
The issue with this correlation is, silverâs price action is preceding that of Bitcoin by a few weeks.
The trader in question shared the chart on August 23rd.
The chart shows that should Bitcoinâs trajectory continue to follow that of silver, the cryptocurrency will soon trade at $20,000.
After hitting $20,000, the fractal also suggests that the BTC price will move to $30,000.
Few analysts actually expect Bitcoin to hit $30,000 this year, especially in just a few months.
But many analysts and investors, like BitMEXâs Arthur Hayes and Galaxy Digital, are adamant that $20,000 will be breached in 2020.
The fundamentals, like the silver fractal aforementioned, also suggest that Bitcoin is likely to move higher from here.
Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, recently said that Bitcoinâs trend of volatility suggests an uptrend is intact:
âStuck between 3-9x over the past few years, the price of Bitcoin per ounce of gold tilts the crypto toward resuming appreciation, if volatility history tells us anything. The Aug. 19 cross rate of 6x is the same as in 2017, yet Bitcoinsâs volatility has dropped relative to gold.â
McGlone has been touting the Bitcoin bull case for months now.
Also core to his positive sentiment is the influx of investment the cryptocurrency space is seeing, exemplified by institutional money flows through the CME, Grayscale, and other avenues:
âBloomberg Intelligence Commodity Primer â Something unexpected needs to happen for #Bitcoinâs price to stop doing what itâs been doing for most of the past decade: appreciating. Demand and adoption metrics remain favorable vs. the #crypto assetâs unique attribute of fixed supply.â
McGlone says that Bitcoin could hit $20,000 in 2020, citing the similarities between this market cycle and the last one.
In other trending Bitcoin News today:
Fed, futures and fundamentals: 5 things to watch in Bitcoin this week
Bitcoin (BTC) starts another week in a bullish mood as hurdles line up to shape price trajectory.
Here are five factors determining where BTC/USD may go in the coming days, and what traders should look out for.
1 â All eyes on the Fed and U.S. inflation
Stocks saw records last week with the S&P 500 hitting all-time highs.
Despite a lower overall impact on Bitcoin, moves on macro markets are still more than capable of spilling over into cryptocurrency.
2 â Analyst eyes $9,600 for BTC price âbuy the dipâ
In a transaction analysis video on Sunday, van de Poppe added that in the event of a breakdown, the âbuy the dipâ level to look out for would nonetheless fall below $10,000.
âThe real level Iâm watching for buy the dip levels if we do break out is between $9,600 and $9,900,â he summarized.
3 â Bitcoin difficulty hits a new record
A mixed bag for Bitcoin fundamentals saw network difficulty adjust upwards 3% to hit new all-time highs, but hash rate trend lower.
According to data from monitoring resource BTC.com, difficulty increased by 3.6% on Monday to hit 18.17 trillion.
4 â $730 million options expire
62,000 BTC ($730 million) worth of Bitcoin options will expire on Aug. 28, reminiscent of the end-of-month action from June.
5- âExtreme greedâ reigns supreme
Bitcoin investor sentiment is âextremely greedyâ and getting greedier.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:
This Eerie Silver Fractal Predicts Bitcoin Will Soon Shoot Towards $20k
https://cointelegraph.com/news/fed-futures-and-fundamentals-5-things-to-watch-in-bitcoin-this-week
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TWITTER CEO: BITCOIN IS STILL THE MOST VIABLE INTERNET-NATIVE CURRENCY!! BTC PRICE PREDICTION!!
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The world of Bitcoin and Cryptocurrency moves at a whirlwind pace but the Twitter / Square CEO Jack Dorsey remains committed to BTC.
In an interview with Reuters on Sept. 10, Dorsey, who also founded the mobile-payment platform Square, said he believes Bitcoinâs potential still outshines later developments:
âI think the internet warrants a [âŠ] native currency and [âŠ] Bitcoin is probably the best manifestation of that thus far. I canât see that changing given all the people who want the same thing and build it for that potential.â
Dorsey connected BTCâs founding principles with the cooperative and decentralized ethos that he considers to be the driving spirit behind the web:
âThe internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.â
Dorsey lauded the fact that âanyone with a great ideaâ who wants to be part of Bitcoin can join the community â they âdonât have to be part of a company,â he said.
Dorsey appeared committed to both Bitcoin and the internet in an idealized form â free from the specters of oligopoly, the excesses of corporate and government surveillance, and the stubborn asymmetries of power and capital that the advocates of decentralization must necessarily wrestle with.
Consistent with this belief in the possibility for grassroots control over the cryptocurrencyâs â and the internetâs â future direction, Dorsey told reporters that itâs important to focus on improving usersâ experience of Bitcoin in order to foster its widespread adoption.
In other trending Bitcoin News today:
Bitcoin Price Prediction: BTC Crucial Liftoff to $12,200 â Discovering On-Chain Metrics
The flagship cryptocurrency is currently stuck in consolidation.
The sluggish price movement comes after recovery from the recent dips under $10,000.
On the upside, BTC is limited under $10,400.
Meanwhile, the Bollinger Band highlights that ongoing consolidation is nearing an end.
As the Bollinger Bands squeeze, volatility continues to build.
Therefore, BTC could be heading into a period of high volatility and drastic price movement, but in which direction would be the breakout?
According to Timothy Peterson, CAIA manager at Cane Island Alternative Advisors, every time Bitcoinâs â30-day return hits this lower threshold (we are very close now), it is usually followed by 30-day gains of 20 â 40%.â
In other trending Crypto News today:
CNBCâs âMad Moneyâ Host Jim Cramer Is Finally Buying Bitcoin
According to popular Bitcoin bull Anthony Pompliano, he just convinced âJim Cramer to buy Bitcoin.â
The details of the interview are not out yet, but Pompliano remarked in his replies that the financial analyst and investor âunderstands the benefit of Bitcoin better than most.â
âJust convinced Jim Cramer to buy Bitcoin. Reply to this tweet with your best meme or gif to welcome the worldâs newest Bitcoinerâ
Cramerâs comments come a year after he was openly hesitant to buy Bitcoin. Responding to a follower that asked if he thinks itâs logical to have 60% of his wealth in stocks and 40% in BTC, Cramer wrote:
âMad Money into bitcoin? Hmmm.. not top of mind. but then again, it is YOUR mad money so you must do what you think is right.â
These comments, though, also come after he stated that Bitcoin could reach $1 million in 2017.
He purportedly said on Squawk on the Street,â another CNBC show, that the cryptocurrency had room to rally exponentially to the upside because of its decentralized nature.
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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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Just convinced @jimcramer to buy Bitcoin.
Reply to this tweet with your best meme or gif to welcome the worldâs newest Bitcoiner đ„
â Pomp đȘ (@APompliano) September 10, 2020
CNBCâs âMad Moneyâ Host Jim Cramer Is Finally Buying Bitcoin
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BITCOIN PRICE HITS 0K BRIEFLY | BTC Now âPerfectly on Trackâ to 0K | Chainlink Surges New ATH
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Bitcoin price experienced a massive spike towards $100,000 on its Quarterly Futures chart.
According to the official Binance announcement, a single user placed several large orders over a very short period of time creating an insane BTC candlestick wick up to $99,964.
This incident did cause the entire Crypto market to shake.
According to Binance, because Futures uses the mark price for liquidations and other calculations, no one was actually liquidated when the BTC price touched $99,964, however, on the spot market, there was a large fluctuation in price.
In less than 1 hour, Bitcoin went from a high of $12,123 to $10,518 before quickly recovering above $11,000.
Ethereum price also got affected dropping from $415 to $325 in the same time frame.
Other major coins suffered the same price action.
In other trending Bitcoin News today:
Bitcoin Now âPerfectly on Trackâ to $100K, Says Stock to Flow Creator
PlanB, the well-known creator of the contested stock-to-flow (S2F) model, believes Bitcoin (BTC) is now well on track to reach $100,000 as the price has risen to yearly highs.
The optimistic sentiment coincides with the shift in momentum from alternative cryptocurrencies, or altcoins, to BTC. He recently shared,
âI canât make a chart for you now (at sea), but S2F model perfectly on track.â
At the same time, the price of Bitcoin has increased by 17% this week, as it broke through a major three-year trendline.
As Cointelegraph reported, traders seemingly expect BTC to test higher resistance levels in the near term.
Altcoins declined particularly in the past 72 hours when the price of Bitcoin started to rally.
Ethereumâs Ether (ETH) moved in tandem with BTC throughout the rally, but it slumped against BTC in the past two days.
In the short term, as Bitcoin sees a profit-taking rally from altcoins, some investors expect BTC to outperform altcoins.
Kelvin Koh, the co-founder of Asia-based venture capital firm Spartan Group, said:
âIf BTC breaks the resistance at $11.4K, we are going above $12K in no time. Will take the wind out of alts again short term.â
In other trending BTC news today:
Chainlink (LINK) Surges 12% to a Fresh All-Time High of $9.72
For the first time in its multi-year history, the Chainlink price passed above $9.00 for the first time ever on Monday.
At the local highs, the asset reached a price of $9.72, as per data from CoinMarketCap.
This surge comes after Chainlink was subject to a strong retracement after hitting $8.94 near the middle of July.
Like many other leading altcoins, LINK suffered from volatility in the prices of Bitcoin and Ethereum, which centralized gains in those market players.
LINK currently trades at $9.50 as of this time, having dropped slightly from the local highs (which is also the all-time high).
According to Santiment, blockchain analytics firm, indicated amid the surge that there has been an uptick in trading volume and social sentiment.
This may suggest that Chainlink does have room to rally.
What it may also show, though, is that a near-term peak may be reached.
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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:
Chainlink (LINK) Surges 12% to a Fresh All-Time High Above $9
https://cointelegraph.com/news/bitcoin-now-perfectly-on-track-to-100k-says-stock-to-flow-creator
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