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

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Bitcoin price broke out from a tightening range to rally above $9,500 but will BTC hold above the crucial resistance level?

Perhaps the move is purely technical as Bitcoin has been compressing into a tighter range of higher lows and lower highs since early June, or possibly investor sentiment has been buoyed by the following massive breaking Bitcoin news today:

US Banking Regulator Greenlights Crypto Custody at Federally Chartered Banks

The Office of the Comptroller of the Currency (OCC) has given permission to allow federally chartered U.S. banks to provide clients with crypto custody services. 

This is a positive step forward as it removes some of the rigamarole involved in acquiring and storing cryptocurrency, meaning, crypto investors will eventually be able to hold their digital assets in the same bank where they keep their checking, savings, and brokerage accounts. 

The recent announcement from the European Union to kickstart another $857 billion euro round of stimulus and the expectation that the U.S. Federal Reserve will follow suit with a $1 to $2 trillion economic stimulus package could also be boosting investors’ belief that as long as the Fed is printing, equities will rise and Bitcoin will soon make another run at $10,000. 

This issue has seen much skepticism, given that crypto wallets do not resemble the custody requirements of other sorts of assets. Nonetheless, in its interpretive letter on the subject, the OCC wrote: 

“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers.”

In the words of the announcement, the new opinion “applies to national banks and federal savings associations of all sizes.”

The OCC’s letter further specifies that bank “custody” of crypto assets is dependent on their access to the keys to the crypto wallets rather than any sort of physical requirement — a confirmation of Andreas Antonopoulos’ famous line of “not your keys, not your coins.” the OCC specifies:

“That national banks may escrow encryption keys used in connection with digital certificates because a key escrow service is a functional equivalent to physical safekeeping.”

In regards to the new rounds of stimulus Gemini exchange co-founder and CEO Tyler Winklevoss suggested that: 

“The Fed continues to set the stage for Bitcoin’s bull run.”

Central bank printing continues to push the markets higher In traditional markets, silver started off the week with a strong pump which completed a nice cup and handle pattern on the daily timeframe, and at the time of writing the asset is up 19.25% for the week. 

Gold has also continued its upward trajectory by pushing to a new high at $1,874 today. To date, gold has gained 29% since the coronavirus-driven market correction occurred in mid-March.

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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:

Once there is attention, these illiquid altcoins then get a surge of buyersPushing the price up even more

You can see that with many defi alts $BAND caught on and ppl piled in, this week $ALEPH (both solid btw), next week will be be another

Always another trade to be made

— Josh Rager 📈 (@Josh_Rager) July 22, 2020

The altcoin chart set-ups that get the least engagement usually pump the hardestThat’s because most people arent in & that same mass of people won’t care unless you’re sharing about an asset they’re in

Until after that alt pumps – that tends to grab attention

— Josh Rager 📈 (@Josh_Rager) July 22, 2020

OK, there is the first lift in the BB Squeeze. Now we need to see follow through or we’ll be setup for real trouble, a Head Fake. $BTCUSD

— John Bollinger (@bbands) July 21, 2020

https://cointelegraph.com/news/us-banking-regulator-green-lights-crypto-custody-at-federally-chartered-banks

https://cointelegraph.com/news/bitcoin-price-rises-to-9-500-as-2-trillion-fed-stimulus-expected

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Crypto analyst and influencer Alex Saunders says he believes Bitcoin is heading toward the $1 million mark, but the journey will take a while.

In a new interview with Stansberry Research, Saunders says BTC is on track to shatter $100,000 in the next five years.

After that, he believes Bitcoin will set its sights on $1 million, and the outcome will depend on how governments decide to deal with the the leading cryptocurrency.

“I honestly think now, if you look at the market cap and you look at the trillions of dollars that are being printed by the month these days, I definitely think we’re going to hit $100,000 in the next five years.

And then it becomes about how governments and central banks react. Are they really going to go hard and try and shut this down or are they going to have to leave it there as a sort of neutral open competitor that’s going to make them more fiscally and financially responsible. 

Depending on how that plays out, I think we can get to $1 million in the next 10 or 20 years simply because it is going to grow to compete with gold and forex and just capture anything that’s previously been a store of value. Why wouldn’t you now park that in Bitcoin?”

Saunders says he doesn’t see BTC as a tool to get rich quick, and notes that people often invest in assets too late, after their parabolic rallies are well under way.

As for the altcoin market outside of Bitcoin, Saunders predicts the vast majority of crypto assets will fail, but there are a handful of promising protocols that will survive.

“We’re very much focused on, out of these 10,000 different coins, 99% of them are going to fail just like the dot-com bubble. But we very much think there’s a handful, a few dozen and those are the ones that we’ve invested in, that we believe are promising…

In some ways, [altcoin detractors are] right in that Bitcoin is the king of the currencies and everything else in that realm is a distraction. But these days, it’s kind of expanded out to be a digital asset class, and [rejecting altcoins is] kind of like saying when the internet was invented that there’s only going to be one internet company or one internet stock.

So I definitely think we’re seeing a number of companies that are disrupting a number of industries in the field that are catching on already. Ernst & Young are using Ethereum (ETH). [So is] Microsoft… The biggest companies in the world are using protocols like Ethereum, so they are gaining traction.”

In other trending Bitcoin News today:

“NEXT CYCLE ALL-TIME HIGH FOR ETHEREUM $10K-$20K”

Ether (ETH) returned to $500 for the first time in more than two years on Nov. 20 as altcoins slowly staged a comeback from poor performance.

Despite being capped at roughly 6% daily gains at press time, Ether’s achievement delighted traders, who noted that overall in 2020, the largest altcoin has outperformed even Bitcoin (BTC).

Year-to-date returns stand at 284% for Ether and 155% for Bitcoin.

Versus the pit of its price lows in mid March, just after the coronavirus-induced cross-asset crash, Bitcoin was still the strongest player. At the time, ETH/USD traded at just $117, making Friday’s levels an increase of 327%, while BTC/USD gained 411% from $3,600 to $18,420.

Earlier, Cointelegraph Markets analyst Michaël van de Poppe argued that a new “altseason” would need to wait, but that a realistic top for Ether’s next bull run could be as high as $20,000.

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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:

Next cycle ATH for $ETH probably between $10,000-20,000.

— Michaël van de Poppe (@CryptoMichNL) November 18, 2020

https://dailyhodl.com/2020/11/17/crypto-strategist-predicts-bitcoin-will-reach-1-million-if-governments-dont-interfere-heres-how-long-it-could-take/

https://cointelegraph.com/news/ethereum-hits-500-for-the-first-time-since-june-2018-outperforming-bitcoin-ytd

https://cointelegraph.com/news/rapper-logic-invests-6m-in-bitcoin-as-latest-celebrity-to-catch-crypto-bug

https://cointelegraph.com/news/corporate-bitcoin-frenzy-companies-now-hold-15-3-billion-in-btc

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A closely-followed crypto trader is predicting giant rallies for Bitcoin and Ethereum before the turn of the new year, but there’s a catch. In a series of tweets, the pseudonymous trader and analyst known as Kaleo lays out gargantuan predictions for BTC and ETH in the coming months.

Among other things, Kaleo predicts that before 2022 rolls around, Bitcoin shatters $100,000 and Ethereum breaks through $10,000, all while altcoins rally hard.

“My predictions for the second half of 2021:

– $BTC enters 6 figure price discovery

– $ETH breaks above $10K

– We see one more major alt season

– More institutional / government adoption 

– More institutional / government FUD

– Cryptunez gets a girlfriend

– Bears remain bearish”

In other trending Bitcoin News today: Here’s When the Altseason Rocket Takes Off, According to Crypto Trader Tyler Swope! Even though Bitcoin can’t seem to recover the $40,000 level and Ethereum is toying with dropping down to $2,000 again, Swope tells his 253,000 subscribers that there will be another altseason, and it will come sooner than some may think.

“There will be more than a few other altseasons coming this year, and a big one I project happening begins in July – around the middle of it. There are already signs the market wants this to happen.”

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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:

My predictions for the second half of 2021:

– $BTC enters 6 figure price discovery

– $ETH breaks above $10K– We see one more major alt season– More institutional / government adoption – More institutional / government FUD– Cryptunez gets a girlfriend

– Bears remain bearish

— K A L E O (@CryptoKaleo) June 17, 2021

https://cointelegraph.com/news/bitcoin-price-dips-below-34k-as-grayscale-starts-giant-btc-unlocking