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

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

Bloomberg Intelligence commodity strategist Mike McGlone says Bitcoin is set for a major breakout, with the leading cryptocurrency targeting $13,000 in the near term.

McGlone says he expects weeks of consolidation to end as Bitcoin’s volatility hovers at a level where big breakouts tend to erupt.

“Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance — The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold.”

In other trending Bitcoin News today:

At This Rate Grayscale Will Own 3.4% of All Bitcoin by January

Grayscale Investments has added 19,879 BTC to its Bitcoin Trust in the last week, purchasing Bitcoin faster than the tokens can be mined.

Grayscale Investments has purchased almost half a billion dollars in Bitcoin since the May block reward halving, and this week bought BTC around three times faster than miners could produce blocks.

According to a June 25 tweet from crypto analyst Kevin Rooke, the investment firm bought 19,879 Bitcoin (BTC) — $184 million worth — in the last week for its Bitcoin Trust, bringing its total number of coins to roughly 400,000.

“Unbelievable. Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving). Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving). That’s almost 400,000 BTC under management for $GBTC”

Rooke stated that not only is Grayscale buying massive amounts of the cryptocurrency, but it’s now doing so at a rate roughly 280% of the new Bitcoin mined. 

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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:

Unbelievable.Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving).Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving).

That’s almost 400,000 BTC under management for $GBTC pic.twitter.com/aMtSGHZnz2

— Kevin Rooke (@kerooke) June 25, 2020

#Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance —
The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold. pic.twitter.com/2CqGEx95JS

— Mike McGlone (@mikemcglone11) June 26, 2020

Coinbase Will Now Pay You to Learn About These Five Altcoins

https://cointelegraph.com/news/at-this-rate-grayscale-will-own-34-of-all-bitcoin-by-january

https://dailyhodl.com/2020/06/27/mike-mcglone-calls-major-bitcoin-breakout-but-analysts-warn-btc-eth-and-xrp-will-likely-tumble-before-bull-run-begins/

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

Financial services outfit Square just announced it has picked up more Bitcoin (BTC). 

Square “has purchased approximately 3,318 bitcoin at an aggregate purchase price of $170 million,” the company said in a public statement on Tuesday, adding:

“Combined with Square’s previous purchase of $50 million in bitcoin, this represents approximately five percent of Square’s total cash, cash equivalents and marketable securities as of December 31, 2020.”

Bitcoin has fallen significantly this week so far, dropping below the $50,000 mark after tapping a record high past $58,000, based on TradingView.com data. Based on the $170 million sum Square swapped for about 3,318 BTC, the outfit looks to have paid an average of $51,235 per coin on its new investment.

“Aligned with the company’s purpose, Square believes that cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future,” Square noted in the statement. “The investment is part of Square’s ongoing commitment to bitcoin, and the company plans to assess its aggregate investment in bitcoin relative to its other investments on an ongoing basis.”

Square bought $50 million worth of Bitcoin in 2020, which it announced last fall.

Square’s statement also included an unveiling of its 2020 financial documents. Twitter CEO Jack Dorsey also serves as CEO of Square. Dorsey recently donated 1 Bitcoin to a nonprofit aimed at Bitcoin technical progress.

In other trending Bitcoin News today:

3 Reasons BTC Price Is Quickly Recovering From Its ‘Severe’ 23% Correction

The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours. 

Behind the rapid recovery are three major factors, including low funding rates, Square’s $170 million Bitcoin purchase, and the spot market stabilizing.

Across major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%.

The Bitcoin futures funding rate was consistently above 0.1% throughout the entirety of the rally from the $40,000s to $58,000.

When the futures funding rate is high, it means the market is overcrowded with buyers and the rally likely overextended.

This creates a major risk of a long squeeze, which can cause the price of Bitcoin to drop quickly in a short period.

With the funding rate back to 0.01%, the risk of a long squeeze is significantly lower and if a new uptrend ensues, the rally could be more sustainable.

When the price of Bitcoin was correcting, the price of Bitcoin on spot exchanges, like Coinbase, was much lower than futures exchanges

On Feb. 23, for instance, Bitcoin was trading $600 lower on Coinbase at one point when the price was near $44,800.

When the price of Bitcoin initially recovered from $44,800 to $48,000, there were signs of a bearish retest.

John Cho, the director of global expansion at GroundX, said:

“We were expecting it, but didn’t think it’d come this soon or this fast. A solid bounce from here would be ideal; but some potential retracement support regions I’m watching. My bias is towards the 40-41k region as it would fulfill a 30% correction from ATH.”

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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:

worth noting https://t.co/uAwm7j9QMP from the $51k price implied, @square bought in the last 7days. either before $58k or after, or a mix of peak & dip buying average. keep that in mind before selling BTC under $50k: both institutional and retail ETF buying up for cold storage.

— Adam Back (@adam3us) February 23, 2021

Things @michael_saylor is disrupting: – Outdated beliefs about money – Gold / Gold bugs – Fiat – Mainstream financial media – Corporate governance – Central banking – Financial engineering – Banks – Elitism – BLS (govt. economic reports)

– $USD

– Fake Inflation no.’s— Max Keiser (@maxkeiser) February 23, 2021

https://cointelegraph.com/news/square-bought-more-bitcoin-almost-doubling-its-holdings

https://cointelegraph.com/news/3-reasons-bitcoin-price-is-quickly-recovering-from-its-severe-23-correction

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

Bitcoin is the new gold, said Thomas Fitzpatrick – a Managing Director in the giant multinational bank Citibank. 

He also predicted that BTC could skyrocket to $318,000 per Bitcoin in the upcoming 13 months by exploring several historical price cycles and the ongoing economic uncertainties.

Fitzpatrick has spent 22 years as the Global Head of Citibank’s G10 Forex business arm called Citi FX Technicals. Apart from analyzing the foreign exchange market, though, he recently explored the performance of gold and Bitcoin as outlined by a popular cryptocurrency commentator.

The Managing Director at Citibank emphatically noted in the report that “Bitcoin is the new gold.” He highlighted BTC’s limited supply and digital form as two of its most distinctive features.

Bitcoin also “moves across borders easily and ownership is opaque.” That last point is “very relevant” as “the huge Fiscal deterioration of today has a cost in the future, either directly or indirectly.”

Additionally, Fitzpatrick weighed in on the argument of how would central bank digital currencies (CBDCs) impact the primary cryptocurrency and world economies:

“This is a double-edged sword. On one side, it [CBDC] creates a much more effective mechanism for distributing stimulus (particularly fiscal), but on the other side, it also makes capital confiscation easier (e.g., negative interest rates.) Both these scenarios would look to me to be positive 

Bitcoin and in the 21st Century 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).”

Apart from comparing BTC to gold, Fitzpatrick also examined Bitcoin’s historical price performances and provided a somewhat optimistic prediction, as the chart below demonstrates.

Fitzpatrick touched upon Bitcoin’s massive volatility and remarkable price developments during the last decade. He highlighted the two most significant market booms.

Those are BTC’s two-year-long rally from 2011 to 2013, where its price multiplied by “an incredible 555 times” and the latest major bull run that culminated in 2017’s all-time high of $20,000.

However, he also pointed out that a vicious bear market followed in both cases, which dropped BTC’s price by about 85%.

Fitzpatrick believes that Bitcoin is actually in a bull market now that started in December 2018 and could lead to groundbreaking price territories. As he noted that every new cycle is longer than the previous one, the current one could end in December 2021. This time horizon allows for BTC to explode in value and “move as high as $318,000.”

With Bitcoin’s price currently sitting at $16,000, such a 1,900% price surge sounds a bit far-fetched at the moment, to say the least.

However, it’s worth noting that Fitzpatrick’s model is not the only one that sees BTC reaching similar territory. The creator of the famous stock-to-flow model foresees $288,000 per coin by December 2021.

In other trending Bitcoin News today:

“Stocks Boom, Dollar Gloom: 5 Things To Watch In Bitcoin This Week”

Bitcoin (BTC) begins a new week with stocks rising and the U.S. dollar falling — all while trading back above $16,000. What’s next for price action?

1- Stocks near all-time highs while USD sinks

2- Bitcoin in 3rd highest weekly close

3- Institutions aren’t selling

4- Fundamentals trend upward

5- How much extreme greed is possible?

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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 EC meets in D.C. in 29 days. Nothing re election will resolve before then. #Bitcoin will hit 28,000

— Max Keiser (@maxkeiser) November 15, 2020

#Bitcoin Highest Weekly Closes:1. December 11-17, 2017 – $18953.002. January 1-7, 2018 – $16124.023. November 9-15, 2020 – $15976.644. November 2-8, 2020 – $15489.15

Next weeks/months are going to be fun.

— Jimmy Song (송재준) (@jimmysong) November 16, 2020

https://cryptopotato.com/bitcoin-price-to-reach-318k-by-december-2021-as-the-new-gold-citibank-director-says/

https://cointelegraph.com/news/stocks-boom-dollar-gloom-5-things-to-watch-in-bitcoin-this-week