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

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Tesla confirms Bitcoin HODL strategy as new report says BTC shouldn’t have a problem reaching $100,000 during the current bull cycle thanks to impressive behavior from hodlers. 

Also breaking BTC news announced today by Elon Musk that Tesla now officially accepts Bitcoin from US customers.

“You can now buy a Tesla with Bitcoin. Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” – Elon Musk

In response, Jason Yanowitz points out on Twitter:

“The ability to buy a Tesla with Bitcoin is not a big deal. Tesla’s decision to NOT convert that Bitcoin into fiat after the sale is a huge deal. This leads the way for thousands of companies to sell products using Bitcoin without ever turning that Bitcoin back into US dollars.”

In their latest newsletter seen by Cointelegraph, analysts from trading suite Decentrader including Cointelegraph Markets contributor filbfilb sought to allay fears that Bitcoin’s bull run is running out of steam.

Backing their optimism, they said, is data showing that more and more investors are hodling BTC for the long term — one year or more. 

Taken from the popular “HODL Wave” indicator, this suggests that there is less desire to sell Bitcoin at short notice at a certain price, providing a solid foundation for further growth.

“The 1Yr+ HODL Wave suggests that Bitcoin should comfortably reach the $100,000 level during this cycle,” Decentrader summarized.

“The greater the amount of Bitcoin being held for a year or longer, the less liquid the supply or potential selling pressure there will be. Typically, if 50% or more of Bitcoin is being HODLed the bull market continues, below this is potentially cause for concern.”

HODL Waves tracks the proportion of the existing Bitcoin according to when it was last used in a transaction. Previously, Cointelegraph noted that those who bought BTC during the 2017 bull run had largely held onto their position despite realizing significant gains.

As Cointelegraph reported on Monday, roughly 36% of the circulating Bitcoin supply is currently made up of “younger” coins which have moved at some point in the past six months.

Exchange data further reinforces the pro-hodl mindset among investors, as overall reserves continue to plummet in March despite BTC/USD making a new all-time high.

Even miners appear to be increasingly interested in keeping their BTC rewards, as evidenced by figures from on-chain analytics service Glassnode showing net miner positions turning positive this month. Michael Saylor, CEO of MicroStrategy, described their behavior as “onlyrational.”

According to Bitcointreasuries.org, Tesla currently holds an estimated 48,000 BTC, a number that should grow as people exchange their Bitcoin for the company’s electric vehicles.

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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:

You can now buy a Tesla with Bitcoin

— Elon Musk (@elonmusk) March 24, 2021

Remember, we didn’t choose #Bitcoin, Bitcoin chose us All will have to come to terms with this eventually

The benefits of obliterating fiat money and central banks (with BTC) are enormous. The demonetization of war and violence will have profound, positive impacts on society.

— Max Keiser (@maxkeiser) March 24, 2021

https://cointelegraph.com/news/elon-musk-says-tesla-now-accepts-bitcoin-from-us-customers

https://cointelegraph.com/news/tesla-confirms-bitcoin-hodl-strategy-as-new-report-says-btc-should-comfortably-hit-100k

https://cointelegraph.com/news/bitcoin-tackles-56k-as-tesla-elon-candle-hits-days-before-record-options-expiry

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

Bitcoin can offer protection against the “depreciating value of money,” newly bullish BTC investor Ray Dalio says.

In a Reddit “Ask Me Anything” session on Dec. 8, Dalio, who last month abandoned his skepticism of Bitcoin, said that the cryptocurrency could complement gold as an investment.

“I think that Bitcoin (and some other digital currencies) have over the last ten years established themselves as interesting gold-like asset alternatives, with similarities and differences to gold and other limited-supply, mobile (unlike real estate) storeholds of wealth,” he wrote.

“So it could serve as a diversifier to gold and other such storehold of wealth assets.”

Dalio shed light on his opinion of various aspects of the global economy, including the United States’ current position, China and the state of fiat currency.

Continuing, he argued that money printing would spur asset inflation, implying that simply holding wealth in cash would lead to losses.

“We are in a flood of money and credit that is lifting most asset prices and distributing wealth in a way that the system that we’ve come to believe is normal is unable to, and that is threatening to the value of our money and credit,” he warned.

“Most likely that flood will not recede, so those assets will not decline when measured in the depreciating value of money. It is important to diversify well in terms of currencies and countries, as well as asset classes.”

His perspective conspicuously mimics that of Bitcoin proponents, notably Michael Saylor, CEO of MicroStrategy, who is guiding the company toward BTC reserves of nearly $1 billion.

Saylor, in an interview with The Bitcoin Standard author Saifedean Ammous in September, stressed that asset inflation was far outstripping that of cash, and that large paper money holdings were thus akin to a “melting ice cube.”

Dalio thus departs further and further from the Bitcoin-skeptic position he held just weeks ago, which began to thaw when he admitted that he “may be missing something” about its true nature. Nonetheless, he stopped short of advocating a “full Bitcoin” portfolio.

“The main thing is to have some of these type of assets (with limited supply, that are mobile, and that are storeholds of wealth), including stocks, in one’s portfolio and to diversify among them. Not enough people do that,” he reasoned.

On the topic of gold, Dalio was more opaque. Choosing between the precious metal and Bitcoin would depend on central banks’ behavior.

“As far bitcoin relative to gold, I have a strong preference for holding those things which central banks are going to want to hold and exchange value in when they are trying to transact,” he concluded.

In other trending Bitcoin News today: 

Bitcoin Plunges Below $18,000 – Here Are The Levels To Watch Next

Bitcoin fell below $18,000 on Dec. 9 in the latest continuation of its bearish comedown from all-time highs.

At press time, new lows near $17,600 were appearing, with 24-hour losses totaling more than 7%.

The situation was tenuous for Bitcoin after support was lost higher up, with exchange data showing buyer interest only lined up in significant amounts at $16,200. Converse selling pressure had provided an instant rejection at close to $20,000 last week.

“Third test of support and breakdown,” summarized Cointelegraph Markets analyst Michaël van de Poppe to his Twitter followers on Wednesday.

“Testing levels multiple times doesn’t make the level stronger. Downtrend likely to continue? I think so, unless $18,500–18,700 is reclaimed, I think we’ll continue correcting.”

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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:

Averaged out, Bitcoin has 10x’d every 2 years.2008 .012010 .102012 1.002014 10.002016 100.002018 1000.002020 10,000.00

h/t @FreakieF

— Dan Held (@danheld) December 8, 2020

Citi downgraded MicroStrategy because of its plan to accumulate a significant amount of #Bitcoin in its corporate treasury.

Never forget this is one of the ratings agencies that rated subprime mortgages AAA right before the housing market crashed and destroyed the global economy

— Vijay Boyapati (@real_vijay) December 9, 2020

BIG UPDATE: @RayDalio, Founder of Bridgewater (world’s largest hedge fund) just said in Reddit AMA: “I think that #Bitcoin (and some other digital currencies) have over the last ten years established themselves as interesting gold-like asset alternatives.”https://t.co/0yqia9frvy

— Cameron Winklevoss (@cameron) December 8, 2020

Watch how traders, shitcoiners and weak hands transfer their #bitcoin to strong hands like Grayscale, Paypal, Square, MicroStrategy etc. These BTC will disappear from the market and go into deep cold storage and stay there for years. pic.twitter.com/McpnqEelV0

— PlanB (@100trillionUSD) December 8, 2020

Third test of support & breakdown. Testing levels multiple times doesn’t make the level stronger.

Downtrend likely to continue? I think so, unless $18,500-18,700 is reclaimed, I think we’ll continue correcting. $BTC

— Michaël van de Poppe (@CryptoMichNL) December 9, 2020

https://cointelegraph.com/news/bitcoin-plunges-below-18-000-here-are-the-levels-to-watch-next

https://cointelegraph.com/news/a-flood-of-money-and-credit-ray-dalio-new-bitcoin-praise-echoes-microstrategy

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

Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before Bitcoin (BTC) Hits $14,000

After rallying as high as ~$10,100 on leading exchanges this week, Bitcoin plunged off a proverbial cliff.

Within 12 hours after hitting the highs, the cryptocurrency dipped by almost $1,000, crushed as long orders cascaded BTC lower.

While this was a bearish rejection at a crucial level, analysts are still bullish.

They cite a confluence of technical and fundamental factors showing that the BTC trend remains slanted to the upside.

Bitcoin’s recently price action may make it seem like a top is forming, but a fractal analysis from a leading analyst in the space has suggested the opposite.

“Fractals also refer to a recurring pattern that occurs amid larger more chaotic price movements.”

The analyst suggested that a fractal has formed between the start of 2019’s 300% rally and BTC’s price action over the past few weeks.

The fractal suggests that BTC will trade as high as $14,000 by the middle of July.

As a pertinent aside: the analyst who shared the chart below is known for observing accurate fractals, which predicted a number of key swings over the past year.

In other trending Bitcoin News today:

Three Altcoins Ready to Outperform Bitcoin (BTC), According to Crypto Analytics Firm Santiment

Crypto analytics firm Santiment says a handful of crypto market metrics indicate that Ethereum (ETH), Basic Attention Token (BAT) and Maker (MKR) all look more bullish in the short term than Bitcoin (BTC).

Santiment looked at each asset’s three-day averages in three metrics.

The first, Daily Active Addresses (DAA) vs. Price

Divergence, compares an asset’s price action to the number of unique crypto addresses interacting with that specific coin on a daily basis.

The metric views price action that outpaces DAA as a bearish signal, and vice versa.

The second, Network Value to Transactions Ratio (NVT), compares the value transferred on a specific network (transaction volume/token circulation) to the network’s market cap. If the transaction volume is low relative to market cap, an asset is considered overvalued and vice versa.

The third metric, Sentiment Volume Consumed, measures the sentiment of market participants on Twitter.

Santiment evaluated each asset using a simplified rating system: 0-10, with 0 representing the most bearish and 10 the most bullish.

A 5 implies a prediction of sideways consolidation.

Bitcoin scored a 3 on the DAA vs. Price Divergence metric, a 2 on the NVT, and a 6.5 on Sentiment Volume Consumed, for an average rating of 3.8, or “slightly bearish.”

Ethereum scored a 5 on DAA vs. Price Divergence, a 5.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 5.5 (neutral).

Basic Attention Token scored an 8.5 on DAA vs. Price Divergence, a 9.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 8.0 (bullish).

Maker scored a 9 on DAA vs. Price Divergence, a 10 on NVT, and a 5.5 on Sentiment Volume Consumed, for an average rating of 8.2 (bullish).

Santiment cautions that none of these scores are indicative of the firm’s long-term outlook on each asset.

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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:

Don’t lose sight of the HTF…Our prior resistance region has now been broken and is now being tested as support. Bulls remain in control and gunning for the highs again imo. HTF has been bullish since posting this weeks ago, hope you have been buying the dips. $BTC https://t.co/Q7k4bd86Q5 pic.twitter.com/WpVUf1wPGt

— Credible Crypto (@CredibleCrypto) June 4, 2020

Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before BTC Hits $14,000