BITCOIN CAN GO STRAIGHT TO $1 MILLION THIS BULL CYCLE!! ETHEREUM CO-FOUNDER BECOMES BILLIONAIRE!!

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

A high-profile crypto trader is discussing what he believes is in store for Bitcoin heading into the rest of the year. 

The pseudonymous trader, known as ‘Crypto Kaleo’, also shares a chart overlaying with his projected July BTC price action. According to the trader’s chart, Bitcoin might consolidate until the end of July, and then take off and hit $48,000 by August.

“This isn’t to say that history mirrors itself perfectly, but it often rhymes.”

In other trending Bitcoin News today: DeFi on Bitcoin: Jack Dorsey says Square’s new division will make it happen.

Square CEO Jack Dorsey has revealed that the firm is building a new division that will focus on building decentralized finance services that utilize Bitcoin.

“Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is Bitcoin. Its name is TBD.”

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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:

Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD.

— jack (@jack) July 15, 2021

https://cointelegraph.com/news/defi-on-bitcoin-jack-dorsey-launches-new-square-division-to-make-it-easy

https://cointelegraph.com/news/paypal-increases-crypto-purchase-limits-to-100k

https://cointelegraph.com/news/bitcoin-price-tumbles-to-final-support-as-trader-warns-of-24k-btc-price-target

➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net

Bitcoin price has officially reached a new all-time high on Dec. 1 above $19,892 after nearly three years, according to data from Coinbase and Tradingview.

Despite the Thanksgiving crash last week, BTC price has managed to rebound throughout the weekend. Bitcoin then easily passed the $19,000 mark on Monday to reach its all-time high, albeit on a couple of exchanges.

There are three key trends that fueled BTC’s rise from sub-$3,600 in March to over $19,892. These include the rise in institutional demand, lower selling pressure, and the resilience of Bitcoin throughout 2020.

Most on-chain data points show that the demand for Bitcoin from institutions has been rapidly increasing.

In November, Grayscale recorded all-time high net inflows, and the CME Bitcoin futures market saw its open interest climb near $1 billion.

Grayscale, in particular, said that more institutions invested in cryptocurrencies during the third quarter of 2020 than ever before.

The figures Grayscale sees are important to gauge the institutional interest in Bitcoin because the Grayscale Bitcoin Trust is typically the first point of entry for most institutions to gain exposure to BTC.

In the United States, there is no exchange-traded fund (ETF) for Bitcoin and other major cryptocurrencies. Hence, the Grayscale Bitcoin Trust is the closest investment vehicle to an ETF in the U.S. market. The Grayscale report read:

“More institutions invested in 3Q20 than ever before and have increased their average allocation from $2.2 million in 3Q19 to $2.9 million in 3Q20. Institutions that are comfortable with multiple products within the Grayscale suite of products, have averaged nearly double the commitments of single-product investors during 3Q20.”

As Cointelegraph reported in August, MicroStrategy purchased $450 million worth of BTC, adopting Bitcoin as its primary treasury asset. This was likely the spark that triggered the current wave of institutional demand for the digital store of value.

In other trending Bitcoin News today:

This Metric Suggests Bitcoin Price Can Go As High As $590K This Bull Run

The current Bitcoin (BTC) bull run could send BTC/USD as high as $590,000, one indicator forecast this week.

Curated by on-chain analytics resource Glassnode, the Net Unrealized Profit/Loss (NUPL) index has reached a level that has historically launched the Bitcoin price an order of magnitude higher.

The latest bull signal was noticed and uploaded to social media by the company’s chief technical offier, Rafael Schultze-Kraft, on Nov. 30. At the time, BTC/USD was already making new all-time highs on several exchanges.

NUPL currently resides at 0.62. Previously, reaching this level has begun an uptrend that only reversed once Bitcoin hit a new price range.

In 2011, the price expanded by a record 3,000% after the NUPL event, while in early 2013 it expanded 800% and another 600% later that year. In 2017, the year which delivered Bitcoin’s previous all-time high, there were 1,200% gains.

NUPL measures the proportion of coins in the network that are in profit versus those that are not. Built around a neutral zero value, the closer the index gets away from it, the more the network is in profit. Negative readings likewise signify majority losses.

“NUPL is at 0.62 and predicts tops at 0.8+,” Schulze-Kraft explained alongside an annotated chart.

A 0.8 reading or higher this time around thus opens the door to BTC/USD topping out at anywhere between $133,000 and $590,000.

“Just getting started,” he concluded.

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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 fellow bitcoiners, the bull market is upon us. Like clockwork November red dot closed above all other red dots .. at $19,700 .. a new #bitcoin ATH. This is just the beginning. We will see volatility (e.g. -35%), but also new ATH’s. Enjoy the ride!🚀🚀🚀 pic.twitter.com/27fmkCOoEY

— PlanB (@100trillionUSD) December 1, 2020

https://cointelegraph.com/news/this-metric-suggests-bitcoin-price-can-go-as-high-as-590k-this-bull-run

https://cointelegraph.com/news/tyler-winklevoss-tells-cnbc-that-cash-is-trash

https://cointelegraph.com/news/bitcoin-futures-hit-20-3k-right-before-btc-price-drops-1k-in-10-minutes

https://cointelegraph.com/news/bitcoin-price-hits-new-all-time-high-as-crypto-market-matures

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

CNBC’s Brian Kelly says he believes Bitcoin is ready to once again surprise the naysayers and begin a blistering parabolic bull run.

In a new interview on Fast Money, Kelly points to the recent BTC halving, which cut the rate of new supply entering the market in half, as a prime reason Bitcoin is set to outperform gold amid the shaky global economy.

“For me, it’s going to be Bitcoin. You might say I’m biased because I run a crypto fund, but that’s not it. I also trade macro, which means I have a whole bunch of different things I can invest in: currencies, stock, bonds, precious metals. And when I look at precious metals versus Bitcoin, Bitcoin has better fundamentals.

And with fundamentals, I’m talking about the stock-to-flow ratio. It’s better than gold at this point because we had the halving, and when I look at the Bitcoin cycles, the bull markets tend to cluster around the halvings.”

Kelly says he thinks Bitcoin is on track to return to its all-time high of $20,000 within six months, with $50,000 coming next year.

In the same time frame, he doubts gold will double in value.

“So we’re tracking right along the 2016 halving cycle and that would imply that sometime in Q2 2021, you’re looking at a Bitcoin price of $50,000. So that’s kind of the long-term target. And in the shorter term, $10,500 was a really big number.

We’re breaking out of a two-year range. It would not surprise me, this is just pure trading 101, once you break out of a range, [an asset] goes to prior highs. That’s $20,000. To me, I think that’s three to six months down the road. So Bitcoin looks like it could go two to five times higher.”

When pressed on why he’s overly bullish, with many sky-high Bitcoin predictions failing to materialize in the past, Kelly said he believes his forecast fits right in with Bitcoin’s prior price history.

“What we know about Bitcoin is it’s extremely volatile. It’s highly speculative, and when it goes on these speculative runs, it goes a lot further than people expect.

So I don’t think saying $20,000 is that outrageous when it’s already been there. You might question me on the $50,000, but that’s a year from now.”

In other trending Bitcoin News today:

Ethereum Rockets 50% in 5-Year Anniversary Month: What’s Behind the ETH Rally?

The Ethereum price has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase.

It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol.

There appear to be two key factors fueling the rally of ETH. 

First, the anticipation of the market towards ETH 2.0 has been continuously building.

Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum.

In mid-June, DeFi platform Compound essentially kickstarted the phenomenon called “yield farming.”

Ethereum users would flock to DeFi platforms providing the highest incentives, trying to obtain the highest yield possible.

Since then, several major DeFi platforms have emerged. According to Defipulse.com, Aave, Balancer, and Curve Finance have $482 million, $291 million, and $263 million locked in, respectively.

Consequently, the total value locked in the DeFi space has increased to $3.94 billion.

It is up by more than three-fold since the beginning of June.

The upward trajectory of the DeFi market could positively affect Ethereum for various reasons.

The most prominent factor is its usage as gas.

When users clog the Ethereum blockchain with many transactions, ETH is needed to pay transaction fees or “gas.”

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Trezor: ► http://trezor.cryptonewsalerts.net

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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:

$COMP appears to be in a great position for a potential turnaround, according to the real-time metrics we’re seeing on Sanbase PRO. Track the chart to see the bullish developments for:1. DAA2. Network growth3. Transaction volume

4. Social volumehttps://t.co/4EleYExoKL pic.twitter.com/ZXWesq0hNQ

— Santiment (@santimentfeed) July 30, 2020

https://cointelegraph.com/news/ether-rockets-50-in-5-year-anniversary-month-whats-behind-the-rally