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

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Venture capitalist and Bitcoin billionaire Chamath Palihapitiya says BTC will drive financial accessibility to billions of people – if the global financial system crumbles.

The Social Capital CEO and former Facebook executive is one of the largest known Bitcoin HODL’ers that holds 1,000,000 Bitcoins.

In a new interview on CNBC’s Squawk Box with Joe Kernen, Palihapitiya explains what he believes it will take for Bitcoin’s price and adoption to reach meteoric heights.

“The last few million coins of Bitcoin are obviously going to cost more energy than the first 18 million. But in the grand scheme of things, again, this is something in Bitcoin parlance people say ‘Hodl’. You buy it, you hold it, you put it away.”

But Palihapitiya adds that this is a situation no one should want to happen.

“And honestly, I think you hope that you never need it because the amount of actual chaos that will drive bitcoin appreciation is not something you actually really want to see.”

On the other hand, Palihapitiya remains optimistic about the changes Bitcoin could make on the financial infrastructure.

“Now that being said, if it does happen, I think it will create an enormous power redistribution and it will push power, it will push financial accessibility to the edges, to billions and billions of people. And in that there is something to be really proud and excited about.”

Palihapitiya also says inflation will continue regardless of who wins the election in November.

“The most dominant factor that I see is the combination of Treasury and the Federal Reserve. They have printed so much money that the likelihood is we are going to continue to see asset price inflation independent of who is in the White House.”

Virgin Galactic Chairman Chamath Palihapitiya has shared his bitcoin investment strategy, predicting that bitcoin’s price could reach a million dollars.

He further suggested that everybody should have 1% of their assets in bitcoin since it is “a fantastic hedge.”

“In 2013, I bought a lot and at one point I think I had almost 5% of all the bitcoins. My basis is about 80 bucks a coin. I’ve never bought more.”

He then shared his Bitcoin prediction of how high he thinks the btc price could be over the next 10 years.

“It is a 10-year trajectory,” he began. “I’ve always thought of bitcoin as a very binary investment, whether it goes from 80 to 8,000 to 6,000 to 3,000 to 13,000, it doesn’t matter.”

Noting that bitcoin’s price will be “either zero or it’s millions,” Palihapitiya asserted:

“What it will do is it will create a quasi gold standard. It’ll create an index, except instead of having to own gold where gold is owned by central banks, it is an instrument that has value that’s determined in between its participants, and it’s owned by everybody.”

In other trending Bitcoin News today:

Bitcoin Forms Rare Bullish Crossover Not Seen Since 2014 – Here’s Why Analysts Are Preparing for a Big Move

Despite the uncertainty surrounding Bitcoin, the number one cryptocurrency just flashed a bullish signal that has not been seen in six years.

Crypto analyst Eric Thies is highlighting a trend indicator known as the KDJ, which has made a bullish cross on the six-month timeframe for the first time since 2014.

“BTCUSD Notes on this crazy high TF but I’ll gladly give hopium when I see it 6M KDJ crossed bullish when it closed in July, confirming an unmistakably bullish 6M hammer at the same time. Last time KDJ crossed bull was 2014 with a $200 BTC low. Last cross bear at $17k high.”

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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:

“The most dominant factor that I see is the combination of Treasury and the Federal Reserve,” says @Chamath. “They have printed so much money that the likelihood is we are going to continue to see asset price inflation independent of who is in the White House.” pic.twitter.com/315RlmEKPZ

— Squawk Box (@SquawkCNBC) October 6, 2020

https://news.bitcoin.com/chamath-palihapitiya-bitcoin/

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Walmart Bitcoin mass adoption is here as the retail giant has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to install 200 BTC ATMs in its stores across the U.S. 

Although the pilot includes only 200 kiosks, the broader launch plans to eventually see the installation of 8,000 Bitcoin ATMs across the country, according to Bloomberg. There has been no further details on timelines as of yet.

In other trending Bitcoin News today: Crypto analyst TechDev shares a  macro chart which suggest Bitcoin tops out at $290,000 by the end of January.

“Back to the macro. Update on the mind-bending gold fractal… For those unfamiliar, this marks the 54th straight week that Bitcoin has followed gold from 1970-1979. Both local topped at exactly 1.2T MC (Market Cap). If it continues, top at 290K end of January.”

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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:

Back to the macro. Update on the mind-bending gold fractal…

For those unfamiliar, this marks the 54th straight week that #Bitcoin has followed gold from 1970-1979.

Both local topped at exactly 1.2T MC.If it continues, top at 290K end of January.

Will we finally deviate? pic.twitter.com/Dcyeg4EHJL

— TechDev (@TechDev_52) October 22, 2021

https://cointelegraph.com/news/200-bitcoin-atms-installed-at-walmart-with-plans-for-8000-in-total

https://www.coindesk.com/markets/2021/10/20/valkyrie-secures-go-ahead-for-bitcoin-futures-etf/

https://cointelegraph.com/news/paypal-co-founder-peter-thiel-says-he-underinvested-in-bitcoin

https://cointelegraph.com/news/bitcoin-extends-correction-as-ethereum-sees-picture-perfect-rejection-at-all-time-highs

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A crypto analyst who warned traders about last year’s large Bitcoin (BTC) correction says he believes a similar scenario is about to play out.

With the Bitcoin price currently trading around $9,200 since peaking at $9,903 over the past seven days, the technical trader, known in the industry as Dave the Wave, says he believes that after failing to beat resistance at $10,000, BTC is now “back on track” to fall to $6,300.

Dave’s latest chart shows the BTC price falling next month to the low $6,000s. In the long run, the trader is extremely bullish on Bitcoin.

He says BTC is steadily approaching the end of a symmetrical triangle dating back to late 2017.

A quick survey sent to his 29,000 followers on Twitter shows most respondents agree that BTC is not yet ready to break out. Although he’s predicting pain in the short term, Dave is one of the most bullish analysts when it comes to Bitcoin’s path in the years ahead.

He predicts BTC will break through the strong line of resistance early next year and begin a long-term parabolic rally that will bring the leading cryptocurrency to $150,000 in 2023.

Dave made a name for himself in crypto circles after correctly calling the beginning of Bitcoin’s 2019 correction.

He told traders to brace for Bitcoin to drop to about $6,000 before the end of 2019.

The forecast ended up being on the mark, with BTC hitting a low of about $6,400 in December.

In other trending Bitcoin News today:

GOLDMAN SACHS IS INVITING CLIENTS TO A BITCOIN CALL: HERE’S WHY THAT’S SO IMPORTANT

Multinational investment bank Goldman Sachs will be hosting a Bitcoin call on May 27th for its clients.

The news was revealed Friday by The Block’s Mike Dudas, who shared the image below of an invitation to a call for May 27th entitled “Implications of Current Policies for Inflation, Gold, and Bitcoin.”

The call hasn’t even happened and some have postulated what this indicates and what could transpire in the wake of this call.

Although the Goldman Sachs call has yet to transpire and it’s unclear what exactly the firm will say about Bitcoin, many in the space have taken the news as a positive sign.

A commentator on institutional trends in the cryptocurrency space said that the existence of this call confirms there is true client demand for BTC.

“The fact that BTC is included tells you they are seeing substantial client interest.”

That’s not to say Goldman Sachs will be bullish on Bitcoin when the call comes around, though.

Sharmin Mosszvar-Rahmani, a Chief Investment Officer of the Investment Strategy Group at Goldman Sachs, has previously expressed bearish opinions about the efficacy of Bitcoin as an investment.

She wrote in a report published in 2018 that she believes cryptocurrencies “do not fulfill any of the three traditional roles of a currency,” before adding:

“Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been borne out much sooner than we expected.”

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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:

pic.twitter.com/39lgLcer2w

— dave the wave (@davthewave) May 20, 2020

Does anyone think Goldman is going to be negative on BTC on this call?The fact that BTC is included tells you they are seeing substantial client interest.

Probably some good trading opps with this, including a possible run-up beforehand (may have already started). https://t.co/RH2yyXWmZr

— MacroScope (@MacroScope17) May 23, 2020