Bitcoin (BTC), XRP, Ethereum (ETH), and Crypto Hot Trends For 2020 | John McAfee Halts Crypto Promos

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The Bitcoin price hasn’t fared too well over the past week; after hitting $10,000 last weekend, the BTC price of the leading cryptocurrency fell, tumbling from that key psychological resistance to a price as low as $8,450 (TradingView data) – a drop of 15%.

While there are a number of analysts hinting that this retracement is a precursor to a deeper correction, a growing number of commentators claim that Bitcoin (BTC) is on the verge of rallying 100% (or more) towards the previous all-time high of $20,000.

What’s even more interesting about these Bitcoin predictions is that a few traders expect such price action to transpire over a couple of months, not the years it took BTC to move out of a bull market in 2014-2015.

Could Bitcoin Really Hit $18,000 In the Coming Months?

Despite the fear floating around the crypto industry at the moment due to last week’s severe correction, Polar Hunt recently shared his analysis.

The analysis, which attempts to compare the price action between the market structure in 2014-2016 to the market structure, suggests that Bitcoin is currently “holding up nicely” against the previous market cycle.

BTC following the previous market cycle to T, per Polar Hunt’s charts, will mean the asset surging to $18,000 – a gain of over 100% from the current price of $8,550 – by the time of the block reward reduction in May 2020.

Veteran Trader Who Predicted Bitcoin (BTC) Rise to $100,000 Issues Painful Update to Cryptocurrency Investors

A veteran technical trader who was immortalized in the world of crypto for calling the top of Bitcoin’s last parabolic cycle is updating his views on the leading cryptocurrency.

In June of last year, Peter Brandt said BTC appeared to be at the start of a fourth parabolic phase, taking aim at $100,000.

“Bitcoin takes aim at $100,000 target. BTC/USD is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”

As its price continued to rise in February, he said Bitcoin’s strong start to the year suggested an even larger moonshot could play out through 2021.

Since then, BTC has aggressively retraced from a high of $10,421 on February 12th to its current price of $8,669 at time of publishing.

Amid the downturn, Brandt says he still has a positive outlook on BTC – but the significant correction shows the painful truth: Bitcoin has yet to prove it’s on a parabolic path.

“I am constructive on BTC, but let’s look at facts. BTC has been in bear market for 26 months — not exactly a bull trend”

“I receive a ton of criticism, sarcasm and trolling because I change my mind on markets. Just to let you trolls know, I take my willingness and ability to change my mind quickly as a point of survival and pride as a trader.”

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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:

Here are the stages an investor goes through in a liquidating market1. It’s a great stock. I believe in it2. I will buy more if it goes down more3. I will get out if I can break even4. I will get out if my loss is reduced

5. My opinion of the stock doesn’t matter. Let me out

— Peter Brandt (@PeterLBrandt) February 28, 2020

This is also holding up nicely and shows how this particular part of the marketcycle is “sideways” and therefor both hard to buy and hard to hold.

Im writing these posts to show you, but also to remind my self not sell any. I actually added to my stack this Friday. pic.twitter.com/VIG2a6OZ8q

— Polar Hunt (@polar_hunt) March 1, 2020

Here’s Why Bitcoin Could Rally 100% to $18,000 by the 2020 Halving

https://www.tradingview.com/chart/XBTUSD/Noakp7n5-Why-I-believe-Bitcoin-will-retest-All-Time-Highs-by-July-1-2020/

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Bitcoin (BTC) bull and crypto influencer Lark Davis is unveiling the next big thing in crypto that he believes has the potential to ignite a massive surge of 100x or about 10,000%.

Davis says the crypto market will continue to offer new and profitable opportunities as it evolves and expands beyond the red-hot decentralized finance (DeFi) sector.

“So NFTs (non-fungible tokens) is one such area that is getting a lot of attention right now and could be a big growth area, and it’s certainly an area that we, as investors, maybe want to be paying attention to.”

According to the crypto researcher, NFTs are unique tokens that represent ownership in a particular asset.

“A fungible item is one that can be exchanged for any similar item. For example, a dollar bill is fungible because it can be exchanged for any other dollar and maintain the same value.

However, something like a ticket is non-fungible because even though we could, for example, trade our ticket for someone else’s ticket, well it’s not going to be exactly the same, is it?

Maybe that other ticket’s for a different film, or it’s the same film but at a different time… It’s not equal, is the point.

Each ticket gives you access to a unique set of experience… If we move this idea into the blockchain setting, an NFT is thus a one-of-a-kind token, a certificate of digital authenticity verifiable on chain.”

Lark explains that NFTs offer a wide array of use cases for investors, including ownership in digital art, in-game items such as virtual lands, and skins as well as collectible items such as card decks and virtual pets.

The crypto researcher also highlights that NFTs can extend their reach beyond the realms of art and gaming.

Lark sees non-fungible tokens being used in royalties, insurance, and many other enterprise solutions including tokenizing invoices in order to take out a loan.

While investors who want a position in the emerging space can simply buy NFTs, Lark emphasizes one particular opportunity that can deliver worthwhile gains.

“Perhaps the most financially lucrative use case for NFTs is going to be plugging into DeFi. Maker DAO is already working on bringing music royalties and shipping invoices into their platform…

One that I’m keeping a close eye on is called Persistence. Now, this is a new player coming to Cosmos which will be focused on bringing in enterprises into both the NFT and, of course, into the blockchain world, looking at DeFi and how we can bring those NFTs into DeFi. So this is definitely one that I’m keeping an eye on…” 

In other trending Bitcoin News today:

Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”

Ethereum’s DeFi space has fallen off dramatically over recent weeks due to weakness in the markets.

Top coins pertaining to the space have dropped by over 30-40% from their recent all-time highs, resulting in market carnage.

Not to mention, some crypto assets in the space have lost even more than 40%, plunging as capital floods into safer bets such as Bitcoin.

There are still many prominent supporters of DeFi, though.

For one, the Winklevoss Twins, the Bitcoin billionaires behind the Gemini exchange, recently threw their weight behind DeFi in a series of messages.

“DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.” – Cameron Winklevoss

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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:

DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.

— Cameron Winklevoss (@cameron) September 22, 2020

Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”

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An increasing amount of Bitcoin is being accumulated by institutions.

This much was made clear on Tuesday, when Stone Ridge Asset Management revealed to Forbes that it had picked up 10,000 BTC, representing one percent of its assets under management.

Investors think that further institutional adoption of the cryptocurrency could result in the Bitcoin price going parabolic.

Bill Barhydt, CEO of Abra and a former employee of the CIA and Goldman Sachs, recently said that if only 5% of the liquid assets that the top nine firms in the S&P 500 own were to enter Bitcoin, it would surge:

“9 companies alone in the S&P 500 are sitting on close to $600 billion in cash and short term investments. 5% of that moving into Bitcoin (or $30 billion) would likely 5x the price of Bitcoin given the lack of sellers. (3/6).”

While this math may not add up in your mind, take fiat amplifiers into account.

The amplifier is a concept that for every fiat dollar that is invested in Bitcoin or cryptocurrencies in general, the market capitalization of the space will grow than more than $1.

Estimates suggest that the fiat amplifier is anywhere from two to 25 times, depending on what phase of the market cycle cryptocurrencies are in.

In periods where investors are expecting upside, the fiat amplifier grows as investors don’t want to sell their coins too early.

Barhydt’s analysis of the institutional adoption situation comes as he is seeking to increase his personal exposure to Bitcoin.

He said that he is “considering doubling the allocation of Bitcoin in my personal portfolio to 25%.”

Explaining why he thinks this is a good idea, he pointed towards inflationary trends:

“Given the acceleration of currency inflation and the likely price inflation to follow this seems like a better weighting than my current 12%.”

He added that the contacts he has spoken with say that returns in legacy markets such as equities are likely to be “muted in the next five years.”

This trend may have the effect of driving capital into alternative assets that may be able to generate healthy returns such as gold and Bitcoin.

The comments he made are reminiscent of those made by a number of other investors in the space, who have dramatically increased their exposure to Bitcoin amid the ongoing macro backdrop.

Raoul Pal, CEO of Real Vision, for instance, has over 50% of his liquid net worth in Bitcoin.

In other trending Bitcoin News today:

Max Keiser Predicted Hash Wars: A New Front for Countries

The concept of fiat money can be said to be one of the best inventions of mankind.

However, that resulted in a huge wealth gap among the nations and people around the world.

It is no secret that the world’s top 10% richest hold 85% of the total wealth whereas the remaining 90% of people own only 15% of the total wealth.

Then came the year 2009 and we saw a rise of a new concept of money – a cryptocurrency called Bitcoin.

With the invention of cryptocurrency, we’ve stepped in a brand new world.

The first cryptocurrency Bitcoin revolutionized the whole concept of money, the way to transact it without the need of a third-party and a trustless system. 

With the unprecedented rise of Bitcoin’s value in the past decade, the countries around the world started noticing the remarkable effect of cryptocurrencies on the global economy.

That opened a new gate – the fight for Bitcoin dominance. Hence the hash wars. To understand what hash rate is, basically it’s a measure of the processing power of the Bitcoin network.

So, whoever has more processing power on the Bitcoin blockchain network has more dominance over Bitcoin and its future.

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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:

How Bitcoin Could Surge 500% Amid Rising Institutional Adoption

https://cryptotop10.org/top-10/hash-wars-a-new-front-for-countries/

https://www.fidelitydigitalassets.com/articles/bitcoin-as-alternative-investment?ccmedia=owned&ccchannel=social&cccampaign=BIT_ALT&cctactics=twitter

https://decrypt.co/44880/bitcoin-should-be-5-percent-your-investment-portfolio-fidelity