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The first cryptocurrency analyst to apply the stock-to-flow model to Bitcoin is predicting that the leading crypto asset could meteorically rise in the following months as BTC continues to hold its ground in the midst of bearish news.
“Net result (after Turkey ban, US tax FUD, Faketoshi lawsuits, Elon/Tesla energy FUD) is that Bitcoin is 5x higher than ~6 months ago. And both stock-to-flow model + on-chain data indicate that we are only halfway through this bull market. I would not be surprised to see another 5x next ~6 months.”
In other trending BTC News today: Bitcoin still on track to $100K despite growing risks, says strategic investor Lyn Alden! Lyn is convinced Bitcoin has still the potential to reach 6-figures in the current bull cycle – despite growing uncertainty and increasing volatility.
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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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Coinbase Reports Strong First Quarter Earnings, Set to Add Dogecoin Soon
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BITCOIN WILL STILL FINISH THE YEAR BETWEEN $140K-$160K, SAYS CELSIUS NETWORK CEO!!!!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Alex Mashinsky, CEO of crypto lending platform Celsius, says he’s standing by his prediction of Bitcoin ending 2021 somewhere in the $140,000-$160,000 range.
The Celsius CEO says that once BTC breaks a certain range not far above its current prices, the flagship crypto won’t be facing any tough resistances until new all-time highs. Mashinsky adds that he sees BTC flying up above $140,000 by the end of the year for a rally of 265% based on the current price of $38,300.
“I think we are also hitting some resistance here in the $40,000 to $45,000 levels, and there is not a lot of resistance above that, so I think we’re going to consolidate here and break to new highs. I still stand by my prediction that this year we’ll see anywhere between $140,000 and $160,000 per Bitcoin.”
In other trending Bitcoin News today: Crypto Analyst Predicts Massive Ethereum Breakout, Forecasts New Bitcoin All-Time High by November!
He also says that a “flippening,” or an overtaking of Bitcoin in terms of market cap, is in store for Ethereum.
“This consolidation will come to an end soon. The flippening is knocking the door.”
As for Bitcoin (BTC), the crypto trader also sees the leading cryptocurrency meteorically rising to a new all-time high of around $80,000 by November. According to Inmortal, Bitcoin’s daily chart looks very similar to its price action at the start of 2020 when BTC rallied from $7,000 to $10,000 in a few weeks.
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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:
Celsius CEO Still Sees Bitcoin Finishing the Year Between $140,000–$160,000
https://cointelegraph.com/news/binance-to-bring-bitcoin-payments-to-shopify-via-new-partnership
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BITCOIN TANKS AFTER OIL’S COLOSSAL COLLAPSE, BUT THE BULL CASE REMAINS STRONG | BTC News Today
➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net
#Bitcoin was in for a surprise plunge this Monday as investors assessed the situation in a worrisome oil market.
The #BTC price fell by 4.30 percent to circa $6,748 per token shortly after the US oil futures price slipped into negative territory for the first time.
The two assets remain non-correlated, but Bitcoin’s growing correspondence to the stock market amid the fast-spreading coronavirus pandemic might have led to the Bitcoin price decline.
The Dow Jones Industrial Average slipped 2.4 percent to 23650.44 on Monday, taking cues from the oil market.
The S&P 500 and Nasdaq Composite, too, plunged by 1.8 percent and 1 percent, respectively, showing that investors continued to seek safety away from risk-on assets.
TECHNICAL ADVANTAGE FOR BITCOIN BULLS
Bitcoin’s intraday fall did not stop its prices from holding its prevailing uptrend.
The cryptocurrency plunged right into what appears like its interim support before attempting a minor pullback heading into the Asian session Tuesday.
As shown in the Coinbase 1D chart above, bitcoin tested the upward sloping support trendline of the saffroned Ascending Channel.
The cryptocurrency bounced back weakly by 1.01 percent to hit an intraday high near $6,925, expressing its likelihood to consolidate further in the current resistance range defined by $6,800-lows and $7,500-highs.
Meanwhile, the price located converging support in the blue 50-daily moving average wave.
Bulls attempted to maintain bitcoin’s interim upside bias near these support levels, confirming that they still have a technical advantage against a dwindling macroeconomic outlook.
“People say bitcoin is wild,” commented Frank Chapporra, a former Nasdaq reporter. “Throughout this [coronavirus] crisis, we’ve seen spine-tingling equity volatility, Treasury yields hit record lows, oil prices fall below zero, unprecedented Fed printing and bond purchasing. Right now, bitcoin might be more stable than anything else.”
In other trending #BitcoinNews today:
Low Adoption Puts Bitcoin Price ‘Expectations’ at Risk – Peter Brandt
As prices stick around $7,000, Brandt appeared to get cold feet over the still marginal role that Bitcoin has in the corporate realm.
Bitcoin (BTC) may not be “living up to expectations,” one of its best-known supporters from the finance world has warned as prices stagnate.
In a Twitter discussion on April 20, Peter Brandt pointed to low corporate interaction as an indicator that Bitcoin was not having the revolutionary impact its supporters hoped for.
“I understand the bullish narrative for $BTC relative to the: Fables of the Feds and their Frivolous Fiats: The argument for the moon makes sense. My only question is whether Bitcoin is actually living up to its high expectations. This question does NOT make me a hater”
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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:
I understand the bullish narrative for $BTC relative to the: Fables of the Feds and their Frivolous FiatsThe argument for the moon makes sense
My only question is whether Bitcoin is actually living up to its high expectations. This question does NOT make me a hater
— Peter Brandt (@PeterLBrandt) April 20, 2020
https://cointelegraph.com/news/low-adoption-puts-bitcoin-price-expectations-at-risk-peter-brandt
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BITCOIN ANALYST SAYS K – 0K BTC PRICE IS POSSIBLE | Chainlink Partners With Korean Tech Giant
➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net
Due to the debasement of the US dollar, Tuur Demeester thinks $50,000 Bitcoin – or even $100,000 BTC price – isn’t out of the question.
Bitcoin continues to show impressive price trends amidst a coronavirus-induced gloomy macroeconomic outlook.
The Bitcoin price has ballooned by circa 150 percent after bottoming out near $3,800 on March 13, 2020.
Meanwhile, analysts and traders are betting on its extended growth, with a price prediction model even envisioning it above $280,000 by 2024.
Adding his forecast to a long list of bullish predictions is Tuur Demeester, an influencer known for investing in Kraken, a U.S.-based crypto exchange, via his fund Adamant Capital. Mr. Demeester said he sees Bitcoin anywhere between $50,000 and $100,000, stating that the cryptocurrency will not fall back below $6,000 ever again.
The bold prediction surfaced a day after Bitcoin options’ open interest on Chicago Mercantile Exchange rose to near $150 million – its highest level ever.
Analysts treat CME as the best gauge of interest in Bitcoin for institutional investors. Mr. Demeester used a similar metric to justify why the cryptocurrency could surge by up to 950 percent.
The analyst noted that the cryptocurrency is entering a “deployment phase” – a period wherein big Wall Street players are beginning to associate themselves with emerging blockchain assets.
He mentioned JP Morgan Chase & Co, a banking institution that once treated Bitcoin as fraud-money, suddenly embracing two of the biggest U.S. crypto firms as its clients.
The Wall Street makeover of Bitcoin also continued with considerable investment from Paul Tudor Jones.
The billionaire hedge fund manager, as Mr. Demeester pointed out, recently put 1-2 percent of his portfolio’s worth into bitcoin futures.
That validated the cryptocurrency as insurance against global market risks.
“It’s a land-grab phase,” said Mr. Demeester on the ongoing institutional influx. “You know [bitcoin] is going to be big [and] it is not correlated with traditional financial systems [..] Institutions are staking their claims and see what is going to be built atop [Bitcoin] later.”
Family offices, billionaires, hedge funds, and the interest of other prominent investors in Bitcoin could quickly push the price above $50,000, he added.
In other trending Bitcoin News today:
Chainlink Partners With Korean Tech Giant to Boost Blockchain and Crypto Mass Adoption
Chainlink, a leading platform in the blockchain industry for connecting smart contracts to real-world data sources, has signed a partnership with an affiliate of South Korean internet giant Kakao, the company behind KakaoTalk, one of the most popular mobile messaging apps in Asia.
Kakao’s Klatyn is the company’s public blockchain project. The partnership will see the integration of Chainlink’s oracles with Klaytn’s smart contracts.
According to its team of developers,
“Smart contracts need to interface with the data feeds, events, and widely accepted payment methods that centralized digital agreements rely on to provide value. By providing the building blocks needed by complex smart contracts in the form of critical inputs and key outputs, we seek to enable the next generation of smart contracts that will step beyond tokenization to become the dominant form of digital agreement.”
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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://bitcoinist.com/bitcoin-bottomed-says-top-investor-as-institutional-inflow-hits-record-high/
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