BITCOIN CAN BE WORTH OVER $2M PER COIN IF BTC CAPTURES JUST 5% OF THE MARKET CAP ON THIS CHART!!

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Bitcoin (BTC) can surge to $92,000 in the next two weeks and still “only” be matching its past performance, new data claims.

In a tweet on Wednesday, PlanB, the analyst behind the stock-to-flow family of Bitcoin price models, noted that despite this week’s gains, BTC/USD still has plenty of energy in it.

“I calculated BTC price needed for RSI 95 at April close: $92K. Let’s see what the Coinbase IPO will do today.”

In other trending Bitcoin News today:

Bitcoin Charging to $120,000, Says Veteran Trader Tone Vays – Here’s When

Veteran trader and crypto analyst Tone Vays says that Bitcoin (BTC) is headed towards $120,000 and reveals when he thinks the flagship cryptocurrency can get there.

In a new video, Vays tells his 105,000 YouTube subscribers why he thinks Bitcoin is close to hitting his bullish near-term price target of around $80,000.

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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:

Bitcoin Charging to $120,000, Says Veteran Trader Tone Vays – Here’s When

https://cointelegraph.com/news/bitcoin-can-hit-92k-in-april-and-still-not-match-bull-run-rsi-peaks-analyst

https://cointelegraph.com/news/ether-price-flirts-with-2-400-ath-as-irreversible-hard-fork-looms

https://cointelegraph.com/news/bitcoin-futures-open-interest-soars-to-new-heights-ahead-of-coinbase-listing

➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net

With Bitcoin turning bullish, the mainstream institutions are also taking a special interest in the leading cryptocurrency. 

The latest is Citibank, whose bitcoin technical analysis sees lofty price targets at over $300k per BTC by the end of 2021.

Thomas Fitzpatrick, Global head of CitiFXTechnicals product, the author of the report, traces the historical price performance of Bitcoin, which reflects that timeframes for the rally are getting longer, which puts this rally to peak in December 2021 at $318k.

“Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms),” with arguments in favor of Bitcoin at their most persuasive ever, he wrote.

The report notes how Bitcoin is all about “unthinkable rallies followed by painful corrections” but a type of pattern that sustains a long term trend.

As such though it’s to be seen if such lofty levels will be hit, “the price action we are looking at clearly suggest the potential for a major move higher nonetheless in the next 12-24 months,” reads the report whose snippets were first shared by trader and economist Alex Kruger.

Although “this kind of technical analysis is of little value,” Kruger noted, “what matters here is Citi’s clients being exposed to the bitcoin moon.”

Citibank compared the digital asset’s first rally that took it to the mainstream with gold, which similarly “was allowed to float in the early 1970s after 50 years of trading in a $20-$35 range.”

And that was a “structural change in the modern-day monetary regime” ushering in a world of fiscal indiscipline, deficits, and inflation. As for Bitcoin, its move happened in the aftermath of the Great Financial crisis.

In 2020, with all the MMT, gold is likely to gain from this, but the author of the report noted that gold has restrictions such as storage, non-portable, and could possibly be even called “yesterday’s news” in terms of a financial hedge.

“Bitcoin is the new gold,” reads the report.

The leading digital asset has a limited supply, is easy to move across borders, and offers opaque ownership. But the author also says that Bitcoin may be subject to more regulatory constraints going forward.

The report further mentions CBDC, which though a much more effective mechanism for distributing stimulus, “makes capital confiscation easier.” 

In both the scenarios, Bitcoin will give us the digital equivalent (Bitcoin versus Fiat digital) of what we saw in the 20th century when the financial regime changed (Gold versus FIAT paper). 

In other trending Bitcoin News today: 

Incoming Senator Hopes To ‘Bring Bitcoin Into The National Conversation’

In a clip that has been widely circulating on Twitter, the soon-to-be-senator representing Wyoming — possibly the highest ranking US official to ever speak so glowingly of the digital currency — cited her experience as a former state treasurer for why she believes in Bitcoin’s future.

“I’m a former state treasurer and I invested our state’s permanent funds, so I was always looking for a good store of value, and Bitcoin fits that bill. Our own currency inflates; Bitcoin does not. It’s 21 million Bitcoin will be mined, and that’s it, it is a finite supply. So I have confidence that this will be an important player in store of value for a long time to come.”

The Senator also appeared to brush off GMA3 host Sara Haines’ implication that Bitcoin could be used for money laundering or tax evasion, choosing not to address these charges at all.

As Cointelegraph has previously reported, Lummis is an early adopter of Bitcoin, having first picked up the currency in 2013 following a tip from her son-in-law, Will Cole, who works at cryptocurrency services firm Unchained Capital. 

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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:

MINDBLOWING

Grayscale just bought another 15,114 #Bitcoin which has increased the overall holdings to 506,000 $BTC. This accounts for more than 2 percent of the global Bitcoin supply.

— The Moon 🌙 (@TheMoonCarl) November 15, 2020

3/ Given current trajectory, I expect price to approach the 350dma x 2 around $22-24k.

Maybe we need to correct there for a while due to FOMO kicking in having breached ATH? pic.twitter.com/xcyuxuSewS

— Philip Swift (@PositiveCrypto) November 12, 2020

Why Bitcoin Could Rally to $24,000 Before Seeing Its First Major Retrace

https://bitcoinexchangeguide.com/bitcoins-moon-target-set-at-318000-in-december-2021-by-citibank-report/

https://cointelegraph.com/news/incoming-senator-hopes-to-bring-bitcoin-into-the-national-conversation

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Since Bitcoin (BTC) traders got a taste of parabolic price action in early-2019, during which the Bitcoin price surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more and more and more.

The cryptocurrency’s ability to surge by hundreds of percent in a few months’ time – gains absolutely astronomical when compared to that of stocks, precious metals, and other traditional asset classes – was something many fell in love with.

Fortunately for these investors, a prominent analyst recently suggested that should this key indicator prove to be accurate yet again, the BTC price is on the verge of starting yet another parabolic rally.

While the jury is still out on where exactly the next bull run will take BTC, the consensus is a fresh all-time high of at least $50,000, proven by a crazy accurate price model made by an institutional quantitative analyst and shilled by a bonafide German bank.

According to prominent trader Bitcoin Jack, former head analyst at trading group Bravado, Bitcoin is showing signs that 2020 will “cement the foundation for the next parabolic run.”

As to why this is the case, the analyst looked to BTC’s one-week Ichimoku Cloud, which should show what long-term trends are forming and what key price points there are to watch out for.

The start of the two previous macro bull trends in 2012 and 2016 saw the indicator print a “thin red cloud,” which some would classically define as bearish but turned out to be extremely bullish for Bitcoin. In fact, in 2012, BTC immediately began to rally higher once the thin red cloud was reached, and Bitcoin rallied by nearly 100% in the five weeks after the thin red cloud was reached in 2016.

Top Cryptocurrency Analysts Say $100,000 Bitcoin Predictions Way Off Base – Here’s Where They Think BTC Will Land

Two leading Crypto analysts say they believe Bitcoin is in a new bull market cycle, but predictions that BTC is poised to soar to $100,000 are far too bullish.

In a recent episode of Trading Bitcoin, Tone Vays and the pseudonymous trader Filbfilb debate the current state of the crypto market and where it may head in the months to come.

Says Filbfilb,

“I think we’re going to struggle to get past $60k. I think $60k is going to be a really, really troublesome level to get across. I’ll certainly be looking to book in some serious profits at that point. I think you said it right in Fiji. I think you said the return you get off of these long-term positions versus the risk of you getting it wrong is a terrible trade. So trying to go higher than $60k I think would be a little bit foolish at this point. But certainly around $50k, $60k would be sensible.”

Vays says he’s looking for BTC to top out at a slightly lower price of around $45,000.

Although the traders say hype around Bitcoin’s halving is fueling price action in early 2020, they say rising trading volumes and an increasing number of outstanding derivative contracts are key metrics to watch in order to gauge real long-term interest in the space.

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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:

I think we will be above 14K by July

— //Bitcoin 𝕵ack (@BTC_JackSparrow) February 21, 2020

The model appears to model the bubbles ánd bear markets fairly well. It confirms a certain inertia of price reaction, so a lag ánd overshoot. Model would predict: Price will catch up with S2F ratio a year after the halving. And overshoot by ~ 2x. (3/3) h/t Tom! pic.twitter.com/kWecmWgH5e

— GeertJancap (@Geertjancap) January 15, 2020

https://bitcoinexchangeguide.com/heres-how-bitcoin-could-see-a-4826-increase-in-value/

https://www.newsbtc.com/2020/02/21/crucial-indicator-bitcoin-parabolic-bull-run-50000-begins-2020/