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Closely-followed cryptocurrency trader Michaël van de Poppe is unveiling how high Bitcoin, Ethereum, Cardano and a handful of other crypto assets can rise before this bull market expires.
In a new tweet, Van de Poppe tells his 192,000 followers that he expects Bitcoin (BTC) to end the bull market with a price tag between $350,000 and $450,000. From BTCâs current value of $58,427, the traderâs apex target represents an upside potential of over 670%.
In other trending Bitcoin News today:
XRP Surpasses $1 For The First Time Since 2018: Whatâs Behind The New Rally?
The price of XRP has surpassed $1 on April 6 for the first time since March 2018, putting its market valuation at around $47 billion.
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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://cointelegraph.com/news/xrp-surpasses-1-for-the-first-time-since-2018-what-s-behind-it
https://cointelegraph.com/news/bitcoin-s-1-trillion-market-holds-for-10-days-straight
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BLOCKSTREAM CEO ADAM BACK PREDICTS K BITCOIN PRICE BY 2022 OR SOONER!! 0K BTC WITHIN 5 YEARS!!
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Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is âconservative,â and those levels should hit in less than two years.
That was according to Blockstream CEO Adam Back, who delivered a fresh bullish Bitcoin price outlook on Monday.
Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor Ark, who in September forecast a BTC market cap of $1 trillion to $5 trillion by 2030 at the latest.
Ark is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise in 2020.
âConservative. Iâd say bitcoin likely sees $1 trillion market cap within 2 years, probably sooner. $1 trillion is about BTC $50k,â he said.
As of October, Bitcoinâs market cap is just over $198 billion.
For Backâs prognosis to come true, the market would need to see a 400% increase by 2022.
For reference, at the start of October two years ago in 2018, the figure stood at $114 billion.
BTC/USD traded at $6,600, two months before the pit of its bear market which bottomed out at $3,100.
Further responses to Ark included on-chain data resource Ecoinometrics, which highlighted a $2 trillion Bitcoin market cap as equal to that of Apple.
BTC/USD would trade at $100,000 under such circumstances, while to equal gold, the pair would need to reach $500,000.
BTC price activity is currently much more subdued, with analysts expecting more sideways action to characterize the remainder of the year.Â
At the same time, anticipation is building over BTC/USD abandoning its correlation to traditional macro assets and rising in line with historical behavior â specifically centered on predictions from the stock-to-flow price forecasting models.Â
Stock-to-flow calls for an average price of $288,000 during the current halving cycle, which began in May and will last until 2024.
Adam Back: Crisis Will Push BTC to $300K Even Without Institutions
The Bitcoin pioneer says that unlimited money printing will drive retail investors toward BTC and push the price to $300,000 within five years.
In an interview with Bloomberg â in which he once again denied he was Bitcoin (BTC) creator Satoshi Nakamoto â Back outlined his thinking behind the sky-high price prediction.
The cypherpunk OG â who was cited in the Bitcoin white paper â added that BTC may not need the long-awaited flood of institutional money to push it into a bull run.
âIt might not require additional institutional adoption because the current environment is causing more individuals to think about hedging,â Back said.
âAnd retaining value when thereâs a lot of money printing in the world.â
In January, Back responded to reports that had unearthed early Bitcoin dev Hal Finneyâs wild speculation that Bitcoin may be worth $10 million one day.
Back said that it was entirely possible that high inflation could make $1 worth $0.10 over a decade or so, which would mean: â$10mil/BTC is $1mil/BTC in todayâs money.â
âAnd $100K Bitcoin doesnât seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.â
With that in mind, itâs possible that Back expects a $300,000 BTC price in five yearsâ time to be more achievable, as it would be worth considerably less in todayâs money due to inflation.
In other trending Bitcoin News today:
Bitcoin and Ethereum Bull Raoul Pal Details How to Spot the Next 100x Investment
The Real Vision CEO Raoul Pal is sharing his blueprint for how to spot the next investment with 100x potential.
In an interview with Chris Dark, the host of Dr Dark after Dark, Pal says you donât have to venture far to find that life-changing bet.
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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:
Bitcoin 30 day historic volatility has been falling fast and is in the 20’s. In the past it has hit 20% vol 7 times. 6 times prices exploded higher immediately and vol hit 80% in a few months. 1 time (Nov 2018) prices fell sharply. Either way, a big move is coming soon. #Bitcoin pic.twitter.com/9qKdLcAf0V
â Raoul Pal (@RaoulGMI) October 7, 2020
https://cointelegraph.com/news/bitcoin-pioneer-predicts-1t-btc-market-cap-by-2022-or-sooner
https://cointelegraph.com/news/adam-back-crisis-will-push-btc-to-300k-even-without-institutions
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BITCOIN HITS 'HISTORIC' NEW ALL-TIME HIGH UNDERGOING ITS 3RD PARABOLIC ADVANCE IN THE PAST DECADE!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Bitcoin (BTC) hit new lifetime highs of more than $51,700 on Feb. 17 as it tackled what trader Peter Brandt confirms is a âparabolic advance.â
Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory.
Tuesday had seen Bitcoin hit $50,000 for the first time ever, that level nonetheless failing to hold for more than a matter of minutes.
With its return, the largest cryptocurrency is in a âparabolic advanceâ â the fourth in its twelve-year history, analysts say.
âBig picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade,â Brandt tweeted alongside an annotated price chart.
âA parabolic advance on an arithmetic scale is extremely rare â three on a log scale is historic.â
Responding, Kraken growth lead Dan Held noted that if counting its initial phase prior to 2012, there have in fact been four parabolic advances.
Brandt added that should the advance be violated, a correction of 80% is âmost commonâ as a bearish consequence. Such behavior was observed in 2018 after Bitcoin peaked at near $20,000 â the market bottomed out at $3,100 one year later.
As Cointelegraph reported, various indicators nonetheless suggest that Bitcoin is far from violating any uptrend, being at the start, rather than the end of its bull run.
â$50,000 #Bitcoin is the new normal,â Blockstream CSO Samson Mow declared on Wednesday.
Discussing the new price highs, others noted that macro factors could converge to create a chain reaction of adoption, which would push Bitcoin further still into price discovery.
âIf you think $50,000 a bitcoin is expensive, wait until you hear that the government is about to print $1,900,000,000,000 out of thin air,â popular Twitter account Documenting Bitcoin added.
Data meanwhile showed that Bitcoin had taken the momentum out of altcoin growth with its moves over the last few days, with all of the top ten cryptocurrencies except Polkadot (DOT) seeing sideways price action.
In other trending Bitcoin News today:
Bitcoin Selling At 36% Premium In Nigeria
Itâs been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff penalties, all banks and institutions were directed to close crypto-related firmsâ accounts immediately.Â
In the wake of the controversial move, public interest in Bitcoin (BTC) in Nigeria continues to outstrip other countries, according to the latest available data from Google Trends. Even more stark is the hefty 36% premium on Bitcoinâs price as of the time of writing, Feb. 16.
The premium translates into a $71,150 price tag per Bitcoin, as compared with the average spot market price of $51,314 calculated in Cointelegraphâs price index. The premium is also incomparable to the five next largest premiums globally at present: 3.24% in South Africa, and between 1% and 3% in Argentina, Peru, Malaysia and Vietnam.
As a Cointelegraph analysis outlined last week, the immediate impact of the central bank ban appears to have done little to quell what its author dubbed the âhyperbitcoinizationâ of retail trading culture in the country.Â
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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:
đšHUGE NEWSđš
Morgan Stanley has put in an application to the SEC to launch a #Bitcoin ETF!
Thia is the first Bitcoin ETF application filed this year.
If an ETF is approved #BTC price will sky rocket in minutes! đ
(Source: Coinspeaker) pic.twitter.com/Mb8XTDPwZX
â NebraskanGoonerđ (@nebraskangooner) February 17, 2021
Big picture $BTC
Bitcoin is undergoing its third parabolic advance in the past decade. A parabolic advance on an arithmetic scale is extremely rare â three on a log scale is historic pic.twitter.com/fyyM5Ws6N5â Peter Brandt (@PeterLBrandt) February 16, 2021
https://cointelegraph.com/news/bitcoin-selling-at-36-premium-in-nigeria
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Bitcoin Price Indicator Shows Bearish Mood Strongest Since February | BTC News Today
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Bitcoin price is facing its strongest selling pressure since February and has potential to drop below recent lows near $7,750.
The BTC price fell from $8,326 to $7,935 in 60 minutes, confirming a downside break.
In other BTC news today we take a look at PlanBâs tweet on Crypto Twitter regarding the upcoming Bitcoin halving set to take place in May, which is just 6 more months away.
Are Altcoins ready to explode?!
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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.
News Resources From Todayâs Show:
Bitcoin Price Indicator Shows Bearish Mood Strongest Since February
We are at about 6 months before May 2020 #bitcoin halving.
In 2012 btc jumped from $5 to $12 (2.3x) in those 6 months before the halving. In 2016 btc jumped from $350 to $650 (1.7x). pic.twitter.com/DKSQBOO2TD
â Planâż (@100trillionUSD) October 16, 2019
Correct, it is not priced in.
In my article, I simply analyse the effect that the Halving has had on Bitcoin’s price prior to and after each of its Halvings to datehttps://t.co/4StGraQAaQ
â Rekt Capital (@rektcapital) October 16, 2019
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