💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Rick Rieder, Blackrock’s chief investment officer (CIO) of Global Fixed Income, was asked Friday in an interview with CNBC about his view on Bitcoin now that the cryptocurrency is legal tender in El Salvador.
“Part of why I own a small piece of BTC is I do think there are more people who are going to enter that fray over time … I like assets that are volatile that have upside convexity. I could see Bitcoin go up significantly.”
In other trending Bitcoin News today: Bitcoin investors are reportedly exempt from taxes in El Salvador!
The government of El Salvador will reportedly exempt investors from paying a capital gains tax and an income tax on Bitcoin (BTC), according to a presidential legal counsel.
“If a person has assets in Bitcoin and makes high profits, there will be no tax. This is done obviously to encourage foreign investment,” Argueta said, adding that El Salvador will impose no taxes on “either the capital increase or the income.”
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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://news.bitcoin.com/zimbabwean-minister-says-cryptocurrency-based-solutions-could-lower-charges-for-diaspora-remittances/
https://cointelegraph.com/news/bitcoin-investors-are-reportedly-exempt-from-taxes-in-el-salvador
Ukraine set to become next country to make Bitcoin legal tender
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BITCOIN BREAKOUT ON JULY 22ND? 5 Things to Watch for BTC Price This Week | McAfee #post_titleM Bet Honored?
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Analysts predict that the end of the Bitcoin compression cycle will hit within days as BTC price action continues to preserve $9,000 support.
Equities led a somewhat uneventful start to the week’s trading, with major stocks futures slightly down on the day — by a maximum of 0.6% at press time.
Bitcoin likewise had a quiet weekend, with volatility remaining negligible and a narrow trading corridor continuing to characterize price performance.
On Monday, BTC/USD hovered at around $9,180, having hit local highs of $9,226 earlier, its highest since July 15.
As has become standard in recent weeks, coronavirus sentiment and reactions to associated remedial measures from governments and central banks dictate macro action, and Bitcoin remains susceptible to copycat moves.
With calm reigning prior to the opening bell on Wall Street, room for maneuver appeared limited, given the “compression” in BTC/USD over the past several weeks.
A cycle of higher lows and lower highs, the current compression cycle showed little sign of breaking this month.
However, the status quo is ripe for change — and that should happen this week, say analysts.
“This feels like a little World Cup of sorts. bitcoin could break out on or about the 22nd,” Jason Williams, co-founder of crypto hedge fund Morgan Creek Digital, tweeted on Sunday.
Investors should not treat Bitcoin as a safe-haven “too literally” within the current market, says the CEO of cryptocurrency exchange Binance.
Speaking to Bloomberg on July 20, Changpeng Zhao, known as “CZ” in cryptocurrency circles, cautioned against considering BTC/USD as having a particular relationship to stocks.
“I think people should not take that meaning of “safe haven assets” too literally… there are always multiple factors affecting the price of an asset,” he told the network.
“If you imagine Bitcoin as the same as a float and there’s the Titanic sinking beside it, if there’s a rope tying the float to the Titanic, then the float will sink down with the Titanic, even though the float does have floating properties — it’s just not able to sustain that kind of load.”
In other trending Bitcoin News today:
‘Worthless Coin’ – McAfee Says He Never Believed Bitcoin Would Hit $1M
John McAfee says he never believed Bitcoin would hit $1 million in a recent tweet, backtracking from his previous prediction.
In July 2017, John McAfee said he would “eat his own ****” if Bitcoin does not hit $500,000 within three years.
Today, BTC is hovering at a mere $9,130 and its price must increase by more than 5,376% to meet McAfee’s prediction.
In general, Bitcoin quite clearly got nowhere near $500,000 in the past three years.
Not only that, but McAfee is also seemingly backtracking from his $1 million per BTC prediction.
Last year, McAfee said he is positive Bitcoin goes to $1 million.
He said negativity around the cryptocurrency market was overblown, especially considering Bitcoin was in the mid-$10,000s.
But on July 19, 2020, McAfee said:
“Not going to get out of it. I never believed Bitcoin would hit $1 mil. It’s absurd. It’s an old, tired, worthless coin. I just wanted to eat my **** on TV. Wait for it.”
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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:
John McAfee honored his bet, made three years ago, to bite off his dick if #Bitcoin wasn’t at $500,000
GOOD NEWS: He’s doing well at the hospital and expected to make a full recovery. pic.twitter.com/5ak0jau42u
— Max Keiser (@maxkeiser) July 19, 2020
Not going to get out of it. I never believed Bitcoin would hit $1 mil. It’s absurd. Ir’s an old, tired, worthless coin.I just wanted to eat my dick on TV.
Wait for it.
— John McAfee (@officialmcafee) July 19, 2020
I’ve only made one bet in crypto. $1 mil by the end of 2020. I’ve never lost a bet. I cannot lose. It will be many times more. Wake up and use your head. It was given to you for a purpose.
— John McAfee (@officialmcafee) July 14, 2019
This feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.I don’t think I would want to be on the sidelines going into this but low time pref 🧠
Tina and I both agree that #bitcoin volatility could be extraordinary to the upside. @BitcoinTina pic.twitter.com/EWoB0Tv8VW
— Jason Williams 🦍 (@JWilliamsFstmed) July 19, 2020
https://cointelegraph.com/news/bitcoin-price-predictions-by-top-analysts-are-usually-wrong-heres-why
https://cointelegraph.com/news/worthless-coin-mcafee-says-he-never-believed-bitcoin-would-hit-1m
https://cointelegraph.com/news/bitcoin-breakout-on-july-22-5-things-to-watch-for-btc-price-this-week
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WHY BITCOIN SHOULD TECHNICALLY HIT ,000 BEFORE NOVEMBER 1ST!! 4k BTC PRICE IN 4 YEARS!!
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The underlying reason for Bitcoin (BTC) hitting $28,000 by November 1, 2020, is based on historical data and not just an analyst’s prediction.
Bitcoin’s volatility is a well-known aspect of the asset and the fact that this aspect is high is what’s preventing it from becoming an everyday unit of exchange/account or in simple terms – money.
Arguing the soundness of Bitcoin is for another day, however, what’s important is this historical data that suggests an average BTC return of 196% after a certain condition has been met.
According to Kraken’s August volatility report, there are “suppressed pockets” which represent bitcoin volatility slump between 15% to 30%.
To date, bitcoin has only every hit these pockets 12 times, and every time bitcoin slides into these pockets, it reverses to the mean, which happens to be a 315-day moving average.
In other words, after sliding into these pockets, volatility has seen an average surge of 140%.
What’s interesting is the price implication of this volatility suppression and eventual expansion.
It was observed that the price saw an average surge of 196% over the next 90 days.
On two separate occasions – 2014 and 2018, the returns were -60% and -45%., hence, there is an 83% chance of price surging 196%.
Considering the last dip in the pocket was July 24, 2020, and the surge as of writing was only 4.36%, there is a lot of upside for Bitcoin.
196% surge from July 24, over the next 90 days should put bitcoin between the $28,000 and $30,000 range and on October 22, 2020.
This would mean the Bitcoin price has to surge a 4.2% surge every day to hit the target of ~$30,000.
In other trending Bitcoin News today:
PlanB: $700,000,000 Investment in Bitcoin Industry Shows New Phase of BTC’s Financial Takeover Underway
Recent Bitcoin developments have convinced popular analyst PlanB that Bitcoin is entering a new phase of adoption.
The anonymous trader and creator of the stock-to-flow Bitcoin model points to a Reuters report that Kazakhstan has been in talks to attract more than $700 million worth of investments into the cryptocurrency sector.
The oil-reliant central Asian country offers BTC miners cheap electricity rates and reportedly accounts for more than 6% of the total Bitcoin hashrate across the globe, according to a report published in the Cambridge Centre for Alternative Finance.
PlanB also points to last month’s news that MicroStrategy, the largest publicly-traded business intelligence company, had used $250 million of its balance sheet capital to buy Bitcoin.
“This is a game changer: Nasdaq-listed company with $250M Bitcoin (25% of assets, 15% of market cap) is basically a Bitcoin ETF! Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF).”
PlanB recently told cryptocurrency podcaster Peter McCormack that he actually made a conservative bet when he predicted that BTC will hit $288,000.
Instead, he says it could meteorically rise to $864,000 in four years.
“I’m on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I don’t mean the time-series model. So we’re not looking at Bitcoin only. We’re looking at gold, silver, diamonds, real estate, all that stuff.
It’s $288,000. That’s an average value. It could overshoot, like three times, like it did the last phases. I don’t want to mention the number. I try to be conservative all the time. But let’s say a 2x or a 3x from that $288,000, and then it crashes again, of course.”
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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:
💥💥💥This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)
So it begins https://t.co/UepeYeOqbI
— PlanB (@100trillionUSD) August 27, 2020
#phase5https://t.co/03h07lkiiU
— PlanB (@100trillionUSD) September 5, 2020
Futures bounce back significantly in the U.S. Europe also bouncing back up.
Might signal a slight relief on $BTC as well towards the area of $10,600-10,800.
— Crypto Michaël (@CryptoMichNL) September 9, 2020
https://cointelegraph.com/news/stocks-may-push-bitcoin-to-108k-says-trader-as-usd-bull-run-falters
Post Views: 218 -
BITCOIN ANALYST SEES ‘PERFECT BACKDROP’ FOR 0K THIS BULL CYCLE AND #post_titleM PER BTC BY THIS DATE!!
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Bitcoin can pass its $20,000 all-time highs within weeks, says Alex Saunders, while Ethereum only needs a year to beat its own record.
BTC can hit $100,000 in five years and $1 million by 2035, Nugget’s News CEO Alex Saunders has told Cointelegraph.
Speaking in an interview with Cointelegraph Markets analyst Michaël van de Poppe on Nov. 18, Saunders described current conditions as a “perfect backdrop” for new highs.
“It’s either going to keep going like right now in the next few weeks and get to $20,000 very quickly, or it’s going to have its bit of a range now and then hopefully positive into next year,” he said.
Saunders was speaking as BTC/USD came off recent highs of $18,400 to move in a wide corridor, which has become focused on $17,700. Gains have been swift, with weekly performance alone delivering up to 15% returns.
Looking ahead, Saunders believed that six or seven figures for Bitcoin lay some way off, but that a combination of money and adoption meant that there was now “no way out.”
“I honestly think that Bitcoin will hit $100,000 in the next five years, and then it’s going to become about, ‘Well do they actually try and shut it down, or how do they regulate it and trade it?’” he told Van de Poppe.
“And if it’s allowed to just continue on its mission and absorb all the money from around the world and become a global reserve currency… I think we can get to $1 million per coin in the next, whatever that is, 15 years.”
The estimates appear somewhat conservative by comparison to some extant price forecasts, among them, the popular stock-to-flow based series, which predicts at least $100,000 by next year.
Saunders’ concerns about legality in the event of major price rises echo those of major investor Ray Dalio, whose comments on Bitcoin earned him significant publicity this week.
In terms of the largest altcoin Ether (ETH), meanwhile, the prognosis is even better. Saunders considers there to be a strong possibility that new all-time highs for ETH/USD are a year away — or less.
Given current performance, that would require nearly 200% of upside from press-time levels of $470.
Ether, like most altcoins, has failed to copy Bitcoin’s recent advances, despite the rollout of the long-awaited Ethereum 2.0 and associated roadmap, which will transform the network.
Van de Poppe nonetheless agrees that the future is likely bright for Ether, with the next bull run halting only at an order of magnitude above the peak of the previous one.
“Next cycle ATH for ETH probably between $10,000–20,000,” he told Twitter followers on Wednesday.
In other trending Bitcoin News today:
Bitcoin Price Dives Back Under $16,900 As Whale Deposits Spike Again
The BTC price dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase.
Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections.
After the price of Bitcoin briefly dropped to $16,200 on Nov. 27, it started to show some signs of recovery. It remained above the $17,000 level for over 11 hours before another leg down.
Following the sharp drop of Bitcoin, a low volatility price range was expected. The earlier drop on Nov. 26 to $16,200 decimated exchange order books, particularly in the futures market.
Hundreds of millions of dollars worth of futures contracts were liquidated within several hours, as Cointelegraph Markets reported.
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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:
Next cycle ATH for $ETH probably between $10,000-20,000.
— Michaël van de Poppe (@CryptoMichNL) November 18, 2020
My best guess at this point:1. Attached tweet playing out2. Give this dump another week or so to consume liquidity below
3. Sharp rally to ATH for remainder of the year https://t.co/M9UFcTdcDZ
— //Fiat 𝕵ack 🐐 (@BTC_JackSparrow) November 26, 2020
https://cointelegraph.com/news/bitcoin-price-dives-back-under-16-900-as-whale-deposits-spike-again
Post Views: 199