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Bitcoin (BTC) can surge to $92,000 in the next two weeks and still âonlyâ be matching its past performance, new data claims.
In a tweet on Wednesday, PlanB, the analyst behind the stock-to-flow family of Bitcoin price models, noted that despite this weekâs gains, BTC/USD still has plenty of energy in it.
âI calculated BTC price needed for RSI 95 at April close: $92K. Letâs see what the Coinbase IPO will do today.â
In other trending Bitcoin News today:
Bitcoin Charging to $120,000, Says Veteran Trader Tone Vays â Hereâs When
Veteran trader and crypto analyst Tone Vays says that Bitcoin (BTC) is headed towards $120,000 and reveals when he thinks the flagship cryptocurrency can get there.
In a new video, Vays tells his 105,000 YouTube subscribers why he thinks Bitcoin is close to hitting his bullish near-term price target of around $80,000.
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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 Charging to $120,000, Says Veteran Trader Tone Vays â Hereâs When
https://cointelegraph.com/news/ether-price-flirts-with-2-400-ath-as-irreversible-hard-fork-looms
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Bitcoin Price About to Tap Explosive Rally Trendline | BTC is Money Printing Protection
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Bitcoin Price Could Spark a Massive Market-Wide Rally If It Bounces at This Key LevelÂ
Crypto Bullet â another popular cryptocurrency analyst on Twitter â explained in a tweet that the BTC price is currently approaching a key macro trendline that has historically sparked explosive upwards movements.
âBTC 1M log scale update. Letâs once again take a look at our beloved log scale chart. As long we are closing the monthly above the trend line this is just another great buying opportunity. Zoom out and look at the big picture,â he explained.
If Bitcoin posts a highly bullish response to this level as it has done in the past, it is highly probable that the aggregated crypto market will also incur some intense upwards momentum in the weeks ahead.
Bitcoin Is Money Printing Protection as US Bond Yields Hit Lowest Ever
Bitcoin (BTC) is not a hedge against âeveryâ global meltdown but will ultimately protect its users from central banks, governments and fiat money printing.
That was the consensus building among cryptocurrency supporters on March 10, as traders awaited the next stage of worldwide panic â this had given much of the economy its worst day since the 2008 financial crisis.
On Monday, currency markets and stocks led the losses, which were later joined by markets such as United States government bond yields. In a move unprecedented in history, the entire U.S. bond yield curve dropped below 1% â signaling intense concern from traders over a global recession, an oil price war and, of course, coronavirus.Â
At the same time, Bitcoin shed around 15% overnight, volatility which at press time had nonetheless subsided. Noting historical behavior, Hunter Horsely, CEO of BitWise, said that BTC was performing much better than before versus the S&P 500 in particular.
âS&P is -7.6% today. Based on historical volatility, a -7.6% move in S&P is == to -41% in BTC,â he wrote on Twitter. âYet in the last 24 hrs BTC is only -5%. And only -0.5% since midnight today. Thatâs uncorrelated.â
AngelList CEO Naval Ravikant meanwhile suggested that investors zoom out from recent price adjustments. â
At the moment, Bitcoin is not a general hedge against every black swan and still behaves like a ârisk onâ trade,â he responded to criticism of the cryptocurrencyâs performance.
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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:
$BTCNice to see short term relief the past few hoursPrice couldn’t break above the daily open, and want to see it break this area before I feel good about any potential short term rally
I’ll take some profits at the resistance block above between $8030 and $8100 pic.twitter.com/UR6EXnR5Lt
â Josh Rager đ (@Josh_Rager) March 10, 2020
COVID-19 could lead to more people adopting crypto assets/#Bitcoin to reduce possible exposure to the virus
Crypto investors already knew fiat money was dirtyhttps://t.co/niME67UgJm
â Josh Rager đ (@Josh_Rager) March 9, 2020
At the moment, Bitcoin is not a general hedge against every black swan and still behaves like a ârisk onâ trade.
But long term, Bitcoin is a hedge against central banks printing money, which is inevitable as a reaction to the virus.
â Naval (@naval) March 10, 2020
S&P is -7.6% today.Based on historical volatility, a -7.6% move in S&P is == to -41% in BTC.Yet in the last 24 hrs BTC is only -5%.And only -0.5% since midnight today.That’s uncorrelated.
Treasuries are up (GOVT +1%)! That’s a negative correl, which is a different thing. pic.twitter.com/F0oVlGp8m0
â Hunter Horsley (@HHorsley) March 9, 2020
$BTC 1M log scale update đLet’s once again take a look at our beloved log scale chart.As long we are closing the monthly above the trend line this is just another great buying opportunity.
Zoom out and look at the big picture!#bitcoin #trading pic.twitter.com/Rx7v6X7ZzV
â crypto bullet (@SilverBulletBTC) March 9, 2020
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BREAKING: FIDELITY PRESIDENT LAUNCHES NEW BITCOIN FUND; 0,000 BTC MINIMUM BUY-IN PRICE!!
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One of the largest mutual funds in the U.S., Fidelity Investments, is enhancing its efforts in the Bitcoin and crypto space with its chief strategist, Peter Jubber, starting an institutional-grade and high net worth clients-focused BTC index.
According to a filing sent to the Securities Exchange Commission (SEC), Fidelity Investments has launched a new Bitcoin index fund, âWise Origin Bitcoin Index Fund I, LPâ that targets high net worth investors and institutions.
A $100,000 minimum buy-in value is required by the index fund following the demand by corporations and accredited investors on Wall Street on cryptocurrency investments.
The Wise Origin Bitcoin fund was launched by the head of strategy and planning at Fidelity Investments, Peter Jubber, in conjunction with the mutual fundâs brokerage and distribution divisions.
The fund aims to provide a gateway for accredited investors on Wall Street to dip their feet into crypto.
Fidelity is known for its soft stance on crypto investing, owning stakes in crypto companies such as Canadian mining firm, 8Hut, and providing custodial services to institutions.
Jubber, also a well-known enthusiast and evangelist of Bitcoin and blockchain, in 2017 said the firm was sketching out a decade long plan on the impacts and opportunities that blockchain technology offers to traditional finance.
Peter will lead the âWise Origin Bitcoin Index Fundâ as the executive director and FDâs Fundâs president.
Reports on Forbes also confirm that a Delaware based firm, FD Funds GP will become a general partner to Fidelityâs new BTC fund.
Fidelityâs reports on the cryptocurrency market this June showed that over 36% of big institutional investors were taking up digital assets, and another 80% of them stating they find crypto appealing.
Moreover, a recent report by the mutual fund concluded there is an increasing interest in Bitcoin as a store of value with the worldâs witnessing unprecedented fiscal and monetary policies.
In other trending Bitcoin News today:
Stablecoin metric hints Bitcoin price will rise as buyers snap up BTC!
At $11,400, Bitcoin (BTC) is ripe for a fresh price surge thanks to stablecoin investors buying up cheap coins, data suggests.
Highlighting the latest readings from its stablecoin supply ratio (SSR) metric on Aug. 26, on-chain monitoring resource Glassnode forecast upside for BTC/USD.
SSR refers to the potential buying power of stablecoins over Bitcoin. A low Bitcoin price allows stablecoin owners, for example, on exchanges, to purchase more of the BTC supply.
This demand pushes the price of Bitcoin up, given its predictable, verifiable supply and high stock-to-flow ratio.
As the price increases, stablecoins, which remain priced the same in whichever fiat currency they are pegged to, can buy less of the BTC supply.
The ability to enter a BTC position is called âbuying power.â
Currently, that buying power is high, meaning stablecoin owners can purchase a comparatively large amount of the supply.
âSSR is 3x stronger than it was when BTC hit these price levels over a year ago,â Glassnode commented.
In another tweet, the firm noted that the largest stablecoin, Tether (USDT), was conspicuously primed to enter such positions.
âFurther support comes from an increase in the $USDT (ERC20) balance on exchanges over the past year â indicating that stablecoins are waiting on the sidelines.â
Tetherâs market cap passed a landmark $10 billion in July. In terms of average daily transfer value, USDT beat both Bitcoin and PayPal this month.
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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:
đ„đ„đ„This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)
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â PlanB (@100trillionUSD) August 27, 2020
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â PlanB (@100trillionUSD) August 26, 2020
https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12
https://cointelegraph.com/news/stablecoin-metric-hints-bitcoin-price-will-rise-as-buyers-snap-up-btc
https://cointelegraph.com/news/latest-fidelity-filing-outlines-mainstream-bitcoin-trading-product
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2021 BITCOIN PREDICTIONS FROM TOP INFLUENCERS!! BTC FUTURES OPEN INTEREST HITS NEW ALL-TIME HIGH!!
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What highs (or lows) could Bitcoin reach by the end of the year?
The Stock-to-Flow (S2F) model created by PlanB is one of the most well-known BTC price prediction apparatuses in the Bitcoin space. It forecasts the long-term price trend of Bitcoin by weighing two main factors: the amount of BTC in existence (the stock) versus the amount of newly mined coins entering the market (the flow).
Thus far, the model has been eerily accurate. Bitcoin closed February 26% above the modelâs projected price and remains on pace to hit the modelâs end-of-year target of $288K. With Bitcoin currently trading at around $56K, it would need to increase over 400% between now and December.
Anthony Pompliano of Morgan Creek Digital and Dan Morehead of Pantera Capital havenât set their sights on $200K for 2021, but that doesnât mean they are bearish. They both believe Bitcoin will close the year above $100K, which would be double the current price.
In a recent interview with Cointelegraph, Pomp noted:
âIf all of a sudden only about 8 million Bitcoin are available and all this demand is showing up, you are going to have a pretty aggressive price increase.â
Who would have thought the day would come when $100K, or even $200K, Bitcoin price predictions are considered moderate? Well, today may finally be that day. Unconfirmed reports say Citibank have set their sights set on even higher price targets for 2021.
And thatâs just in the short term. As Bitcoinâs price rises, so do the long-term forecasts. Frank Holmes of US Global Investors and Scott Minerd of Guggenheim Investments both believe half a million dollars is within reach in the coming years.
But thereâs one price prediction that trumps them all. Microstrategy CEO Michael Saylor foresees Bitcoin sucking up âmonetary energyâ, which would propel it to an unthinkable price:
âIn theory, all monetary energy thatâs simply looking for a store of value/safe haven index should presumably drain out of real estate, cash, stocks, and bonds into the Bitcoin network.â
MicroStrategy chief executive Michael Saylor is envisioning a future where hundreds of trillions of dollars worth of investments can push the value of Bitcoin to as high as $14 million.
âI think that demonetizing gold gets you to $500,000 and thatâs simply pulling all the monetary energy off of the gold rock from gold bugs who believe is a store of value and a safe haven. Itâs important to note there are a lot of organizations and a lot of investors that donât use gold as their safe haven. They use government debt, sovereign debt, and so cash is a safe haven, and sovereign debt is a safe haven, and another safe haven people use as a store of value is the index funds.â
In other trending Bitcoin News today:
Bitcoin Futures Open Interest Hits New ATH As Traders Flock to Derivatives
With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets.
According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges approaching $20 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:
On this day last year #Bitcoin dropped 40% in one single day to $3,858. #Bitcoin is up +1400% since that day.
â Bitcoin Archive đđđ (@BTC_Archive) March 12, 2021
https://cointelegraph.com/news/from-318k-to-0-bitcoin-price-predictions-for-2021
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