BITCOIN CAN SURPASS $6 MILLION BY THIS DATE, SAYS EARLY BTC DEVELOPER!!!

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“So end of 2021, I think Bitcoin (BTC) will hit $100,000 in US dollar value.” – Anthony Pompliano

Despite the gloomy economy, Morgan Creek Digital co-founder Anthony Pompliano says he’s not backing down from his bullish outlook on the BTC price.

In a new interview on Tech with Catalina, the crypto investment firm executive says he predicts the Bitcoin price is on the verge of a new long-term 1,288% bull run that will bring BTC from its current price of about $7,200 to $100,000.

Pompliano says the macro-economic backdrop along with the much-anticipated halving event in May, which will reduce Bitcoin’s new supply by half, will likely fuel a major rally.

He believes that massive money printing by central banks around the world will drive people to invest in assets that remain scarce and offer inherent anti-inflationary properties.

“So end of 2021, I think Bitcoin will hit $100,000 in US dollar value. And really, the reason for that is a combination of the macro-environment with the halving structure…

You then have massive quantitative easing. [In] the United States, we’ve announced two trillion dollars in stimulus. Japan just approved an almost one trillion dollar stimulus plan.

They’re devaluing their currencies and when that occurs, people are going to seek out inflation hedge assets like gold, Bitcoin, real estate, et cetera. And so, right when everyone is running to gold, Bitcoin, real estate and others, Bitcoin’s going to have this supply shock. Fifty percent of the incoming daily supply will disappear…

I think you’ll continue to see kind of the same level of demand, or more likely you’re going to see an increase in demand over time. If you get that increase in demand but you get a decrease in incoming supply, supply-demand economics take over and you get an increase in price.”

Pompliano says he expects Bitcoin’s rise to begin slowly, with BTC taking more than a year to register a new all-time high.

“Within the first 18 months of the halving, give or take, we will see a very material increase in price. My guess is that we’ll see $100,000 by the end of December 2021 at a minimum.”

In other breaking Bitcoin News today…

This Technical Sign Sent Bitcoin 250% Higher In 2019.

It’s About to Appear Again On April 19th, Josh Olszewicz shared a chart, indicating that Bitcoin is about to cross above the Ichimoku Cloud for the first time in five weeks.

This, he claimed, is a “once-a-quarter” buying signal, which is likely to see BTC rally even higher towards $8,000, $9,000, and beyond.

The importance of the Cloud should not go understated.

Previous moves on the daily above red Clouds also led to staggering bullish follow-throughs.

In 2019, the move above the Cloud marked the start of a 250% rally from $4,000 to $14,000, and just this year, the move above the Cloud was followed by a 20% rally higher.

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

Bitcoin (BTC) will be worth “infinity” and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken.

Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000.

“Of course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think it’s going to infinity,” he told Bloomberg TV about future price trajectory.

“This national currency’s only fifty years old, it’s already showing extreme signs of weakness, and pretty soon I think people are going to start measuring the price of things in Bitcoin.”

Powell was commenting as the USD weakened alongside a macro market sell-off on Wednesday, an event which had next to no impact on Bitcoin. At the same time, the U.S. national debt quietly passed $28 trillion for the first time in history.

Despite a rejection of $50,000 support, Bitcoin bulls thus remained more than optimistic.

“The people that are believers in Bitcoin see… it’s going to replace all of the world’s currency, so that basically means whatever the market cap of the dollar is, the euro — all of that combined is what Bitcoin could be worth,” Powell continued.

“I think in the near term, people see it surpassing gold as a store of value, so I think $1 million as a price target within the next ten years is pretty reasonable.”

As Cointelegraph noted, Bitcoin closed February 26% above its target dictated by the stock-to-flow-based price models, with creator PlanB still confident that $100,000 will hit at some time this year.

Meanwhile, the gold eclipse argument has been steadily gaining support on social media in particular, often at the expense of gold bugs, who are left with increasingly little ammunition to defend their anti-Bitcoin stance.

As Cointelegraph reported, it was billionaire and former Bitcoin skeptic Mark Cuban who this week took SchiffGold.com CEO Peter Schiff to task over his love of the precious metal. Gold, he told Schiff, “is dead.”

“Bitcoin has been crushing gold since inception,” Kraken growth lead Dan Held added in response to claims by Schiff that a bet against gold was a losing one.

In other trending Bitcoin News today:

Bitcoin Price Charts Hint At Another Drop After Failing to Break $52K

Bitcoin (BTC) has halted its bull run in the past few weeks as the price has corrected from an all-time high of $58,000 to around $43,000.

Several arguments were found for the pullback, including a sell-off from miners and whales. The other primary reason for the correction is the sudden surge of yields across the world.

The 2-hour chart for Bitcoin shows a clear downtrend since the peak high in February at $58,000. Since then, bearish support/resistance flips have been happening suggesting further weakness in the near term.

This bearish support/resistance flip has happened at the $55,000 and $52,000 levels, with the latter serving as the current major area of resistance.

In recent days, Bitcoin’s price tried to break through this resistance zone but failed to do so. After such a failed breakout, retesting the levels below seems inevitable.

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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:

America’s super entrepreneurial class is waking up to #Bitcoin This is the best chance 🇺🇸 has to reclaim world economic leadership in 2021

China has a head start, but their power structure is too centralized pic.twitter.com/T0bgixxvCV

— Max Keiser (@maxkeiser) March 3, 2021

Grayscale #Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is. pic.twitter.com/qj6hfTvH8K

— Mike McGlone (@mikemcglone11) March 4, 2021

https://cointelegraph.com/news/bitcoin-price-is-going-to-infinity-kraken-ceo

https://cointelegraph.com/news/bitcoin-price-charts-hint-at-another-drop-after-failing-to-break-52k

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

The crypto-focused venture firm Pantera Capital just released its latest outlook on Bitcoin and the overall crypto markets.

In a note to investors, CEO Dan Morehead says he expects an ongoing tidal wave of money printing to boost BTC as investors search for assets with a fixed supply.

“That tsunami of money will have a large impact on many things. In our markets it seems inevitable that it will push up the price of fixed-quantity things like bitcoin. If there are trillions more paper dollars, the law of supply and demand implies much more paper money to buy the same amount of cryptocurrency.”

Pantera’s analysis shows the Bitcoin price targeting $150,000 by August of next year.

As for the altcoin market, Pantera co-chief investment officer Joey Krug points out a number of coins have outperformed BTC’s 34% gains this year, including a 98% rise in 0x (ZRX), a 97% surge in Augur (REP) and an 88% jump in Ethereum (ETH).

It’s a trend that Pantera expects to continue in a new bull cycle.

“During cryptocurrency bull markets, we expect assets outside of bitcoin (alt-coins or alts) to outperform… Historically, alts haven’t outperformed until mid to late in the bull cycle.

For instance, from Jan 1, 2016 to Dec 31, 2016 bitcoin’s share of the market dropped from 91% to 87%. But by the end of 2017 it was down to 38%. It’s currently sitting at 65%.

The implication here is that over time we expect the performance gap between alts and bitcoin to widen over the course of the next year, with alts outperforming.”

According to Krug, another boom for initial coin offerings is unlikely to happen, and coins will need to prove their utility this time around.

The firm’s multi-currency hedge fund is currently outperforming BTC by about 20%.

In other trending Bitcoin News today:

Billionaire Chamath Palihapitiya Says He Bought 1,000,000 BTC in 2013, Warns Bitcoin’s Success Will Spell Global Economic Catastrophe

Chamath Palihapitiya views Bitcoin as financial doomsday insurance.

The 43-year-old billionaire, venture capitalist and chairman of spaceflight company Virgin Galactic says on the Unchained Podcast that investors should apportion 1% of their portfolio to BTC and hope it never pays off.

“I just think that if people have been hard working, with their heads down, they should have an opportunity to make sure that they don’t get wiped out if the government itself just continues to make a string of bad decisions that then have rising consequences. And Bitcoin, to me, is the only thing that I’ve seen so far that is really fundamentally uncorrelated to that decision-making process and to that decision-making body. 

Because at the end of the day, any other asset class – equities, debt, real estate, commodities – they’re all tightly, tightly coupled to a legislative framework and an interconnectedness in the financial markets that brings together many of the governments that are sort of behaving this way. And so it’s almost like a bet against the ruling class in some ways, and making sure that you have a small amount of insurance…

Insurance is something that pays off 1,000 bucks to a buck. You want these massive, massive asymmetric payoffs, because you want to be sure that a small amount of insurance can basically make you whole. And that’s why I think that you should just take 1% of your portfolio, put it in Bitcoin, never look at it… and hope that that 1% goes to zero.” 

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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/4-reasons-bitcoin-price-suddenly-slid-below-9k-liquidating-55m