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

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Crypto analyst Nicholas Merten says Bitcoin may be only a couple of months away from surpassing its all-time high BTC price of $20,000.

On a new episode of DataDash, Merten looks at the boom and bust cycles of Bitcoin and says it is well-positioned to begin a parabolic rally.

“There’s a really interesting similarity that I’m seeing here when I take a look at the monthly chart of Bitcoin and the sense that has given me confidence that we’re just a couple of months away from getting back above $20,000. 

The first thing I want to focus on is the longer-term chart, the expanding cycles. We talked about this: about how each new cycle usually expands by around 11 to 13 months.

In this case, we added 12 months for the previous one just to keep it neutral and we’re expecting sometime in November 2022 to be the peak around $100,000.”

The crypto strategist says that his $100,000 BTC prediction is conservative, especially in comparison to other analysts who forecast Bitcoin surging as high $500,000.

Once BTC begins printing new highs, Merten believes a rising tide will lift all boats and spark a new altcoin season.

The analyst says that the Bitcoin dominance chart is already flashing signals that are similar to the 2015 – 2017 altcoin bull market.

“I think this historical similarity is a good sign that we could be in an early stage of an altcoin cycle coming up here very soon. And not to mention, during this time period, even though the broader altcoin space hasn’t really kicked off yet, we have got from 72% to 66% for market dominance for Bitcoin.

That’s gains for the altcoin space in general… If you are in the right place here even in these early moves, you can benefit quite greatly if you start to make the right calls.”

Merten believes that the new altcoin spring will be spearheaded by Ethereum.

He says the second-largest cryptocurrency is primed to erupt in a few months. “What we want to look for is an eventual breakout above this wedge and a continuation of higher lows and higher highs.

It looks like we’re formulating for that sometime around in the fall to the winter of 2020, lining up pretty close to our general estimations from what we can tell about altcoin dominance as well as Bitcoin.”

In other trending Bitcoin News today:

New Bitcoin Model Predicts BTC Will Shatter $100,000 Without Stock-to-Flow – Here’s How

A new Bitcoin price model sweeping across the cryptoverse predicts BTC will hit $100,000 – without relying on the popular yet controversial stock-to-flow (S2F) model.

In a tweetstorm, analyst Croesus says that PlanB’s S2F model, which forecasts BTC’s rise to $100,000 by 2021, has a lot of naysayers because it predicts Bitcoin rising dramatically in a relatively short period of time.

But Croesus points out that critics of the model fail to take into account the exponential increase that comes with the adoption of new technology, whether it is social media or Bitcoin.

The pseudonymous analyst assumes that Bitcoin has a total addressable market of 2.2 billion users based on the number of individuals in the world with a net worth of at least $10,000.

Croesus says that Bitcoin has a current market penetration of 10 million users based on the number of addresses holding less than $1,000 worth of BTC and including balances in crypto exchanges as well as ownership of Bitcoin derivatives.

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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:

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

Institutional investor and creator of the Bitcoin Stock-to-Flow valuation model known as PlanB, for fun did some BTC price modeling with central bank balance sheets which implies a $20,000,000 Bitcoin price.

The pseudonymous trader tweeted,

“Modeling bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M”

Rich Dad Author Robert Kiyosaki added his sentiment regarding the out of control money printing by the Fed…

“WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.”

In other trending Bitcoin News today:

3 Key Metrics Show Bulls Control Bitcoin Price Despite $12K Resistance

Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure.

This holds especially true when considering that the $12,500 level hasn’t been touched in over 13 months.

Currently, analysts are making $16,000 price targets partially due to a CME gap and the expectation that U.S. inflation will rise higher.

While short-term traders confabulate whether the Aug. 28 CME futures and options expiry caused the dip seen in the past few days, on-chain data reveals holders have become more robust than ever.

63% of UTXOs haven’t been touched for over a year, something without precedent.

These holders faced a 53% dip over the thirty days leading into March 13, but even the Black Thursday crash did not entice them to move their BTC.

And in other trending Cryptocurrency news:

DEFI TOKEN YFI PEAKS AT $38,682, MORE THAN 3X PRICE OF BITCOIN

Yearn Finance and the project’s native token YFI has jumped significantly in value.

Last week, YFI made headlines for outpacing bitcoin (BTC) by price per coin, as the YFI token value spiked to $16k on August 20.

On Friday, YFI was averaging around $17-18k per coin, and the value leaped even higher during Saturday afternoon’s (ET) trading sessions.

According to market data, YFI touched an all-time high of over $38,000 on August 29. Presently, the value is hovering around $30,000.

This week, an individual on Twitter, asked the Yearn Finance founder why he was talking with the FTX exchange CEO Sam Bankman-Fried.

Andre Cronje did not detail what Yearn Finance and FTX were collaborating on, but he did confirm that some kind of partnership was in place.

“Guess the cat is out of the bag,” Cronje tweeted. “But just so that there is some expectation management, this is a long roadmap that we are working on, so it won’t be anything anytime soon. But there will be something very sexy in the future.”

In addition to the FTX topic, the defi token YFI was also recently listed on the lending platform Aave this week. Aave has also been making headlines in recent days for its total value locked (TVL), and the project’s electronic money license granted by the UK’s Financial Conduct Authority (FCA).

Yearn Finance has also revealed a new insurance primitive this week called “yinsure.finance.”

The Yearn development team published an article about the yinsure.finance subject which states:

We will systematically be releasing yinsure.finance, a prototype for a new kind of tokenized insurance.

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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:

Friday Fun: modeling #bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M💥💥💥 pic.twitter.com/WPS8Ft9B2r

— PlanB (@100trillionUSD) August 28, 2020

WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.

— therealkiyosaki (@theRealKiyosaki) August 29, 2020

https://news.bitcoin.com/defi-project-yearn-finance-smashes-records-as-native-token-surpasses-30k/

https://cointelegraph.com/news/3-key-metrics-show-bulls-control-bitcoin-price-despite-12k-resistance

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

“I think $50,000 Bitcoin price will trigger a global FOMO panic-buying spree that will destabilize the global banking system fatally”, shared BTC pioneer Max Keiser in a recent Tweet.

Heisenberg Capital founder Max Keiser says that Warren Buffett has missed out on numerous prosperous investments such as Apple and Amazon as “his timing is poor.”

At the same time, Buffett “shunned Gold for 20 years while Gold outperformed Buffett for 20 years.”

As such, Keiser asserted that Buffett and another Bitcoin basher – Peter Schiff – will eventually catch on with BTC and start accumulating.

“My guess is that Buffett (or whoever takes over after he passes) will start panic-buying Bitcoin at $50,000, just like Peter Schiff will do.

The only major player in the money management business that knows what they’re doing is Paul Tudor Jones who I expect will take his Bitcoin allocation up from the current 2% of the portfolio to 10% in the near term.”

Although the prominent US investor Warren Buffett has never been a fan of gold in the past, he recently made a sizeable investment in Barrick Gold Corp while reducing his exposure to his favorite sector, banks.

Similiar with gold, Buffett has been bashing “the new gold,” Bitcoin, and this raises the question of whether he may change his mind on the primary cryptocurrency at some point in the future.

The soon-to-turn 90-year old chairman and CEO of Berkshire Hathaway have never displayed any favoritism regarding gold and its role as an investment tool.

In his 2019 letter to Berkshire Hathaway’s shareholders concerning an upcoming financial apocalypse, Buffett refers to the ones planning to accumulate gold as a hedge instead of making investments in “American businesses,” their portfolio would be much smaller:

“And what would that supposed protection [gold] have delivered? You would now have an asset worth less than 1% of what would have been realized from a simple unmanaged investment in American business. The magical metal was no match for the American mettle.”

Another asset, quite similar to gold in terms of fixed supply and recent price movements that Buffett hasn’t been fond of, is Bitcoin.

Previously, he had referred to the primary cryptocurrency as a “rat poison squared,” and a “gambling device,” and even a lunch with Justin Sun, CEO of TRON, and other leading crypto figures couldn’t change his mind.

But what if the American investor somehow changes his attitude about Bitcoin like JPMorgan CEO Jamie Dimon did?

And, what if Buffett starts allocating funds into the primary cryptocurrency, like Paul Tudor Jones III and MicroStrategy did?

Such a drastic change of heart could not only push BTC’s price into the stratosphere but also start a snowballing effect that will ultimately enhance the asset’s adoption rates among the masses.

In other trending Bitcoin News today:

Why Experts Feel Bitcoin IS Going to Cross The 100K Mark In 2020

Many experts feel that sometime in the future, the prices of bitcoin will go as high as $100,00 landing it to the six-digit zone.

However, the prices are being said can even be higher than 100k.

There are plenty of insiders in the industry who are analysts and experts who believe that the price of BTC will very easily touch $100,000.

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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://cryptopotato.com/max-keiser-warren-buffett-will-start-panic-buying-bitcoin-at-50000-just-like-peter-schiff/

https://www.techtimes.com/articles/251825/20200815/why-experts-feel-bitcoin-is-going-to-cross-the-100k-mark-in-2020.htm