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Right now, with the Bitcoin market cap sitting just under $1 trillion, BTC is only a very tiny fraction of the worldâs assets combined. So in the grand scheme of crypto, this is why many analyst believe weâre still so early.
âIf Bitcoin captures just 5% of the market cap of other assets on this chart, itâll be worth over $2M/coin.â
In other trending Bitcoin News today: Bitcoin bears lack âballsâ to continue selling into 2022!
BTC bears will probably be too âstonelessâ to keep prices down much longer, fresh Bitcoin price analysis argues.
In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoinâs recent 39% correction.
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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:
https://cointelegraph.com/news/bitcoin-and-ether-heading-100k-and-5k-in-2022-bloomberg-intelligence
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CHINA MADE A TRILLION-DOLLAR MISTAKE BY OUSTING BITCOIN MINERS, SAYS MICHAEL SAYLOR!!
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By ousting the Bitcoin miners from its borders, China made a trillion-dollar mistake, argued the CEO of MicroStrategy, Michael Saylor. During a recent interview with Bloomberg, the prominent BTC bull spoke about the adverse short-term effects of Chinaâs recent crackdown on Bitcoin mining. While he acknowledged the hash rate and price declines, Saylor believes this âmistakeâ from the Asian country will provide an excellent opportunity for others.
âChina had a 50% market share of Bitcoin, and they were generating $10 billion a year and a business that was growing 100% year over year. And then, the government cracked down on it and squeezed the entire industry out of China. I think that given the growth rate of Bitcoin, this will turn out to be a trillion-dollar mistake for China.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:
https://cryptopotato.com/tanzanias-central-bank-working-on-adopting-cryptocurrencies/
https://cointelegraph.com/news/athena-confirms-plans-to-bring-1500-bitcoin-atms-to-el-salvador
https://cointelegraph.com/news/el-salvador-to-airdrop-30-in-bitcoin-to-every-adult-citizen
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Crypto Analyst Adjusts 0,000 Bitcoin Forecast | BTC Buy Signal That Preceded 2017âs 2,000% Rally
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The crypto analyst who accurately predicted last years Bitcoin retracement has updated his roadmap of the BTC ascent to $100,000 as the king cryptocurrency approaches the apex of a long-term triangle.
Trader Dave the Wave tells his 33,000 Twitter followers that Bitcoin is poised for a big move as the top cryptocurrency shows signs of compression.
âMomentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it âoughtâ to do. Shaping up nicely for the move going forward.â
Based on Daveâs chart, Bitcoin is losing steam as seen on the slumping logarithmic moving average convergence and divergence (LMACD).
The indicator is designed to reveal changes in an assetâs trend, strength and momentum.
In addition, the king coinâs volatility looks ready to hit its all-time lows as the Bollinger bands width (BBW) indicator approaches a value of 0.50.
The low BBW reading suggests that BTCâs trading range is at its narrowest point in four years. Bitcoinâs tightening trading range and dying momentum suggest that a violent move is on the horizon as the dominant cryptocurrency approaches the end of a multi-year triangle.
Dave says that once volatility returns, he expects Bitcoin to go through a significant correction.
Once the pullback is over, Dave sees Bitcoin eventually breaking out of the long-term triangle.
He says Bitcoin will recover its all-time high of $20,000 next year before igniting a manic phase that would send the top cryptocurrency above $100,000 before 2022 expires.
In other trending Bitcoin News today:
BITCOIN TO SOON CONFIRM BUY SIGNAL THAT PRECEDED 2017âS 2,000% RALLY
According to a crypto analyst, Bitcoinâs macro Moving Average Convergence Divergence (MACD) is about to cross green on the monthly time frame.
Should this take place, it will mark a large win for the bull case. For instance, prior to the rally from under $1,000 to $20,000 in late-2016/2017, BTC formed this signal.
And prior to the rally to $14,000 in 2019, this signal was formed.
The potential cross in the MACD isnât the only signal that is supporting the long-term bull case.
This past Sunday, digital asset manager Charles Edwards noted that his indicator, the Hash Ribbons, printed a âbuyâ signal:
âBitcoin Hash Ribbons âBuyâ signal just confirmed. The post-Halving signal is particularly special. It will probably be a very long time until the next occurs. âŠand so the great bull run begins.â
This is important as the signal has preceded parabolic rallies in the price of BTC.
Edwards found in an analysis published last year that the gain-to-peak of the indicatorâs âbuyâ signals comes out to an average of 5,520%.
The fundamentals are equally as bullish, analysts have said.
As reported by Bitcoinist previously, Nexoâs Antoni Trenchev argued that Bitcoin is still poised to hit $50,000 by the end of 2020.
He attributed this strong sentiment to the presence of money printing by central banks and the block reward halving:
âSo yes, Iâm sticking to my prediction of 50K until the end of the year. I appreciate that it is a bold statement, but the fundamentals are there and the momentum is shifting there as well,â
Trenchev concluded to the Bloomberg journalist.
This optimism has been echoed by Adam Back, the chief executive of Blockstream.
The long-time industry executive and programmer told Bloomberg in a July interview that BTC will hit $300,000 in the next five years.
Like Trenchev, Back also mentioned money printing, but added that bonds and real estate likely have low risk-return ratios.
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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:
Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do.
Shaping up nicely for the move going forward pic.twitter.com/prrdi576XD
â dave the wave (@davthewave) July 15, 2020
https://bitcoinist.com/bitcoin-confirm-buy-signal-preceded-2017/
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BITCOIN HITS 'HISTORIC' NEW ALL-TIME HIGH UNDERGOING ITS 3RD PARABOLIC ADVANCE IN THE PAST DECADE!!
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Bitcoin (BTC) hit new lifetime highs of more than $51,700 on Feb. 17 as it tackled what trader Peter Brandt confirms is a âparabolic advance.â
Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory.
Tuesday had seen Bitcoin hit $50,000 for the first time ever, that level nonetheless failing to hold for more than a matter of minutes.
With its return, the largest cryptocurrency is in a âparabolic advanceâ â the fourth in its twelve-year history, analysts say.
âBig picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade,â Brandt tweeted alongside an annotated price chart.
âA parabolic advance on an arithmetic scale is extremely rare â three on a log scale is historic.â
Responding, Kraken growth lead Dan Held noted that if counting its initial phase prior to 2012, there have in fact been four parabolic advances.
Brandt added that should the advance be violated, a correction of 80% is âmost commonâ as a bearish consequence. Such behavior was observed in 2018 after Bitcoin peaked at near $20,000 â the market bottomed out at $3,100 one year later.
As Cointelegraph reported, various indicators nonetheless suggest that Bitcoin is far from violating any uptrend, being at the start, rather than the end of its bull run.
â$50,000 #Bitcoin is the new normal,â Blockstream CSO Samson Mow declared on Wednesday.
Discussing the new price highs, others noted that macro factors could converge to create a chain reaction of adoption, which would push Bitcoin further still into price discovery.
âIf you think $50,000 a bitcoin is expensive, wait until you hear that the government is about to print $1,900,000,000,000 out of thin air,â popular Twitter account Documenting Bitcoin added.
Data meanwhile showed that Bitcoin had taken the momentum out of altcoin growth with its moves over the last few days, with all of the top ten cryptocurrencies except Polkadot (DOT) seeing sideways price action.
In other trending Bitcoin News today:
Bitcoin Selling At 36% Premium In Nigeria
Itâs been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff penalties, all banks and institutions were directed to close crypto-related firmsâ accounts immediately.Â
In the wake of the controversial move, public interest in Bitcoin (BTC) in Nigeria continues to outstrip other countries, according to the latest available data from Google Trends. Even more stark is the hefty 36% premium on Bitcoinâs price as of the time of writing, Feb. 16.
The premium translates into a $71,150 price tag per Bitcoin, as compared with the average spot market price of $51,314 calculated in Cointelegraphâs price index. The premium is also incomparable to the five next largest premiums globally at present: 3.24% in South Africa, and between 1% and 3% in Argentina, Peru, Malaysia and Vietnam.
As a Cointelegraph analysis outlined last week, the immediate impact of the central bank ban appears to have done little to quell what its author dubbed the âhyperbitcoinizationâ of retail trading culture in the country.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.
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đšHUGE NEWSđš
Morgan Stanley has put in an application to the SEC to launch a #Bitcoin ETF!
Thia is the first Bitcoin ETF application filed this year.
If an ETF is approved #BTC price will sky rocket in minutes! đ
(Source: Coinspeaker) pic.twitter.com/Mb8XTDPwZX
â NebraskanGoonerđ (@nebraskangooner) February 17, 2021
Big picture $BTC
Bitcoin is undergoing its third parabolic advance in the past decade. A parabolic advance on an arithmetic scale is extremely rare â three on a log scale is historic pic.twitter.com/fyyM5Ws6N5â Peter Brandt (@PeterLBrandt) February 16, 2021
https://cointelegraph.com/news/bitcoin-selling-at-36-premium-in-nigeria
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