BITCOIN CHARGING TO $120K, SAYS VETERAN TRADER!! BTC CAN HIT $92K IN APRIL TO MATCH BULL RUN PEAKS!!

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“The Bitcoin price will skyrocket to $100,000 before 2023 comes to a close”, says the pseudonymous Crypto strategist who accurately forecasted the BTC price collapse from $11,600 to $6,400 in 2019.

Trader Dave the Wave is now marking the moment when he believes Bitcoin (BTC) will break out and begin its ascent to $100,000.

Dave tells his 37,000 Twitter followers that Bitcoin is slowly grinding up in an effort to take out its all-time high around $20,000.

“And the standard use of a technical pattern, known as the breakout of an ascending triangle, gives a target of 100K.”

Based on Dave’s chart, crypto enthusiasts would have to wait until the end of 2021 before Bitcoin catches fire and erupts.

The trader predicts that Bitcoin will skyrocket to $100,000 before 2023 comes to a close.

The crypto analyst also highlights that the slow climb will set the stage for a massive BTC explosion.

However, Dave acknowledges that just like any other prediction, his analysis can be wrong and BTC can surge to $100,000 ahead of 2023.

The trader shares a conversation that he had with PlanB, the first analyst to apply the controversial stock-to-flow model to Bitcoin.

In the thread, PlanB asked whether Dave’s model would be proven incorrect should Bitcoin climb above $100,000 before December 2021.

Says Dave….

“It would certainly be in extremis. The log growth curve could accommodate a brief spike to that price but price carrying on higher would invalidate/falsify the curve.”

In other trending Bitcoin News today:

World’s largest sovereign wealth fund indirectly holds almost 600 Bitcoin

Mainstream finance giants may hold more Bitcoin than you think.

The Norwegian Government Pension Fund, also known as the Oil Fund, has over $1 trillion in assets, including 1.4% of all global stocks and shares.

It is considered the world’s largest sovereign wealth fund.

According to Arcane Research’s report on Sept. 19, the fund also owns almost 600 Bitcoin (BTC) through its investment holdings.

Arcane Research analysis data shows that the Norwegian oil fund has 577.6 BTC through its investment in business intelligence firm MicroStrategy.

This puts the company’s portfolio in BTC at around $6.3 million.

The Norwegian Government Pension Fund has a 1.51% stake in MicroStrategy.

Michael Saylor, MicroStrategy founder, said in a recent tweet that the company owns 38,250 BTC.   

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”

In addition, two other major investment advisory companies, BlackRock Fund Advisors and the Vanguard Group, have a 15.24% stake (5829.30 BTC) and a share of 11.72% (4482.90 BTC), respectively. 

BlackRock currently is the biggest shareholder in MicroStrategy, indirectly holding BTC.

The Vanguard Group is an American investment advisor with about $6.2 trillion in global assets under management (AUM) as of January 31, 2020.

It is the largest mutual funds provider and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock’s iShares.

BlackRock Fund Advisors, on the other hand, has $7.3 trillion in AUM. 

MicroStrategy has made a lot of headlines in the past few days as it announced a bold plan to invest in Bitcoin.

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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:

When considering network dominance in the crypto industry, I find it clarifying to separate crypto-asset networks like #Bitcoin from crypto-application networks like Ethereum & stablecoins. Bitcoin dominance has advanced from a low of 71.05% on December 20, 2017 to 93.57% today. pic.twitter.com/03cbWVyoLY

— Michael Saylor (@michael_saylor) September 20, 2020

https://cointelegraph.com/news/bitcoin-price-hits-1-week-low-as-us-dollar-currency-index-aims-higher

https://cointelegraph.com/news/worlds-largest-sovereign-wealth-fund-indirectly-holds-almost-600-bitcoin

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Chainalysis posted their report for the Bitcoin market for March 2020.

According to the blockchain and crypto analytics firm, exchanges have experienced a huge inflow of BTC since March 9, receiving nearly 319,000 of the cryptocurrency on March 13 alone. 

However, between March 12-13, almost nine times the average daily amount of Bitcoin was sent to exchanges to be sold, causing the BTC price to plummet to $3,000s.

This represented Bitcoin’s biggest daily drop in the last seven years. Has the Bitcoin price stabilized for now?

Though the volume of crypto inflow remains high — twice the daily average — according to Chainalysis, the price of BTC appears to have stabilized for the moment. 

“The majority of excess bitcoin arriving at exchanges has been sold, and the worst of the oversupply appears to be finished for now.”

The firm offers some possible explanations for the price leveling out after such a tumultuous period. Though transfers between 10 and 1,000 BTC accounted for 70% of the flow of the cryptocurrency through exchanges, Chainalysis says the overall amount of BTC wasn’t enough to do lasting damage:

“The majority of available bitcoin was not cashed out, suggesting that most bitcoiners are happy to hold. At 712,000 more than average, the amount of bitcoin sent to exchanges in the last eight days is unprecedented. But this extra 712,000 represents just 5% of available bitcoin (all mined bitcoin minus all lost bitcoin).”

With retail businesses shutting down across the United States and more companies being forced to let their employees work from home, the future of all financial markets is uncertain.

International travel restrictions to combat the spread of the coronavirus continue to change on a daily basis, which has delayed or cancelled crypto events worldwide.

Despite this uncertainty, Chainalysis still plans to use traditional indicators to monitor Bitcoin:

“It’s hard to predict where the bitcoin market will go next. However, large increases in exchange inflows have proven to be a good indicator of increased volatility, so we recommend keeping an eye on the amount being transferred to exchanges. We also expect that professional traders will continue to drive events, as opposed to retail exchange users, simply because they are responsible for much larger volumes.”

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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:

The next key event is confirmation of BTC decoupling from traditional markets. Here’s a bunch of charts, many are bullish. I will note that I don’t expect a V-shaped bottom, I think there will be time, an accumulation range before moving up.

— Willy Woo (@woonomic) March 19, 2020

https://cointelegraph.com/news/chainalysis-says-bitcoin-price-stable-for-now-but-future-uncertain

https://cointelegraph.com/news/bitcoin-price-surges-10-to-56k-as-stocks-react-to-750b-eu-stimulus

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$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes

The BTC price and Ethereum price plunged by 13% and 21%, respectively, within minutes on Aug. 2.

The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550.

There appear to be two main reasons behind the sudden cascade of liquidations.

First, the volume in the cryptocurrency market tends to drop during weekends.

Second, the market was heavily swayed to longs or buyers.

In other trending Bitcoin news today:

Joe Rogan Says Bitcoin Is Transformational, Tells Audience of 200,000,000 to Get on Board

Prominent podcaster Joe Rogan is urging his audience of 200 million to buy Bitcoin and start stacking sats.

On the opening salvo of episode 1,515 of the Joe Rogan Experience, Rogan promotes Bitcoin as part of a Cash App advertisement.

Rogan touts Cash App’s ability to let users to automatically purchase Bitcoin at different intervals based on their preferences.

“With the Cash App, you can automatically purchase bitcoin, daily, weekly or even bi-weekly, known in the industry as stacking sats. Sats is short for Satoshi –  the legendary person who created Bitcoin…

Bitcoin, what it is for sure, is a transformational digital currency that acts as a decentralized peer-to peer-payment network powered by its users with no central authority. I love it. I wish it was the way we exchanged currency and maybe it will be in the future. Get on board.”

$20,000 Won’t Pose Any Resistance for Bitcoin Price, Says Max Keiser

According to Heisenberg Capital founder and Keiser Report host Max Keiser, the price of Bitcoin (BTC) would soon rally to $28,000.

He believes the all-time high of BTC at $20,000 likely won’t act as resistance.

Keiser, who is an early investor in unicorn Kraken and $100-million-worth Bitstamp, said:

“The $20,000 level for Bitcoin won’t pose any resistance. We won’t see any resistance till $28,000. A brief pullback then the assault on $100,000 begins with renewed vigor.”

In the past 12 days, the price of Bitcoin has increased from $9,200 to $12,000, marking the highest price in over a year.

The cryptocurrency market is benefiting from the strong momentum of Bitcoin and Ethereum’s Ether.

Keiser reaffirms his $100,000 Bitcoin prediction Throughout the Bitcoin rally in the past month, Keiser has continuously reaffirmed his position on the medium-term trend of BTC.

He expects BTC to eventually surpass $28,000, and shoot for a new all-time high at six figures.

In late July, when the price of Bitcoin first broke out of $11,000, Keiser said a six-figure BTC is likely.

Since then, BTC has confirmed $10,400 as a key support level, maintaining its momentum. He said:

“$28,000 is in play before we see a pullback – and then we’re heading to 6-figures.”

DataDash: Two Crypto Newcomers Will Surge Alongside Bitcoin, Ethereum and XRP in New Bull Cycle Crypto analyst Nicholas Merten says two mid-cap crypto assets will soar along with Bitcoin, Ethereum, and XRP as a new bull market emerges.

On the latest episode of DataDash, Merten says a broad correction in the altcoin markets is offering investors a chance to hop in before the next big rally explodes. He says traders should keep an eye on the relative crypto newcomers Cardano (ADA) and Tezos (XTZ) in preparation for the next bullish breakout.

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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/20-000-wont-pose-any-resistance-for-bitcoin-price-says-max-keiser

https://cointelegraph.com/news/1-billion-liquidated-as-bitcoin-price-crashes-by-14k-in-minutes