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While Bitcoin price has slipped by more than 8.2% after rising to $42,230, the 43.5% rally included 10 consecutive days of gains. But despite BTC currently trading at around $39,700 as of Aug. 2, some analysts anticipate that it can rise by another 100%.
Nunya Bizniz, an independent market analyst, posted the bullish setup on Sunday, noting that each of the cryptocurrencyâs previous 10-day bull runs has ended up doubling its prices at a later stage.
Therefore, if the history repeats or rhymes, Bitcoin price can go up by more than 100% in the next 30-60 days.
âBoth tops occurred in November and December, respectively, which could insinuate that the trigger for bear markets has more to do with taxes,â explained Santos-Alborna, adding that $88,000-$150,000 is a âmore realisticâ upside target for Bitcoin in 2021.
In other trending Crypto News today: Eth2 Will Help Ethereum Outpace Bitcoin, Pantera Capital CEO Predicts!Â
Amid the looming Ethereum London hard fork, Pantera Capital CEO Dan Morehead predicted that the upcoming upgrade would likely help Ether (ETH) outpace Bitcoin (BTC) as the largest cryptocurrency.
Despite predicting a brighter future for Ether, Morehead is still optimistic about Bitcoinâs growth in the future. The CEO reportedly predicted that Bitcoin would trade between $80,000 and $90,000 by the end of 2021, rising above $120,000 within a year. Surging mainstream adoption could further drive Bitcoinâs price to as high as $700,000 in the next decade, Morehead noted.
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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/eth-2-0-will-help-ether-outpace-bitcoin-pantera-capital-ceo-predicts
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BITCOIN WILL SEE A âMONSTER BREAKOUTâ IN THE NEXT THREE DAYS!!! | BTC Ready for âExtraordinary Moveâ
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According to a cryptocurrency trader, Bitcoin will see a âmonster breakoutâ in the next three days as the BTC price continues to tighten on a macro scale.
He shared the chart which shows that per the Bollinger Bands, a key technical indicator denoting volatility and key levels, BTCâs price action is extremely tight.
Separate analyses of the Bollinger Bands indicator have found that they are at their tightest levels since November 2018.
What followed the consolidation, of course, was a 50% drop over the span of two weeks that ended the bear market.
This suggests there will be an imminent move of macro proportions, likely to play out within the next week or two.
Bulls Are In Control?
Volatility indicators do not indicate which way the leading cryptocurrency will break.
But with this latest news and new analyses, a growing number of traders are betting on the case for upside.
KI Young Ju, the chief executive of cryptocurrency analytics firm CryptoQuant, shared the charts below on July 20th.
Attached, he wrote that there are three on-chain indicators signaling investors to âBUY.â
These indicators are as follows:
* Addresses linked to Bitcoin miners are not sending their coins to exchanges, suggesting they are not being sold. * Large BTC holders deemed âwhalesâ remain HODLing their coin.
* The reserve of BTC on exchanges âhit the year-low a month ago and [it has kept] that low.
This suggests there remains an accumulation mindset amongst a majority of cryptocurrency investors.
Further adding to the bull case forming, digital asset manager Charles
Edwards noted last week that his flagship indicator just printed a macro buy signal. âBitcoin Hash Ribbons âBuyâ signal just confirmed.
The post-Halving signal is particularly special. It will probably be a very long time until the next occurs. âŠand so the great bull run begins.â
In other trending Bitcoin News today:
Bitcoin Appears Ready for Extraordinary Move in Just 48 Hours, According to Morgan Creek Digital Partner
Bitcoinâs three-month-long tightening trading range may end in about 48 hours, says Morgan Creek Digital executive Jason Williams.
Williams tells his 41,000 Twitter followers that BTC appears to be poised for a big move as the leading cryptocurrency approaches the apex of an ascending triangle pattern on the short-term timeframe.
âThis feels like a little World Cup of sorts. Bitcoin could break out on or about the 22nd. I donât think I would want to be on the sidelines going into this⊠Bitcoin volatility could be extraordinary to the upside.â
The Morgan Creek Digital co-founder is not the only analyst who expects the end of BTCâs tightening range soon.
Crypto strategist Ethereum Jack sees the king cryptocurrency exploding within the next seven days as Bitcoinâs spot volume hits a level that precedes significant price expansion.
A dwindling volume indicates that many traders are on the sidelines while waiting for an asset to provide clarity in terms of direction.
Meanwhile, the pseudonymous crypto trader Walter Wyckoff believes that Bitcoin will breach resistances as it gets a helping hand from a bullish S&P 500.
âProbably SPX [is] gonna rip on vaccine news and if that happens [it is] gonna pull up BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of BTC. Canât see Bitcoin giga dumping while markets make new highs.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:
This feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.I don’t think I would want to be on the sidelines going into this but low time pref đ§
Tina and I both agree that #bitcoin volatility could be extraordinary to the upside. @BitcoinTina pic.twitter.com/EWoB0Tv8VW
â Jason Williams đŠ (@JWilliamsFstmed) July 19, 2020
On-chain Indicators Status: BUY đąâ Miners are not selling (based on MPI, Miner Outflows)
â No significant #BTC exchange inflows from whales so far
â All exchanges’ reserve hit the year-low a month ago and keep that low pic.twitter.com/IzEmujvbsUâ Ki Young Ju (@ki_young_ju) July 20, 2020
Bitcoin Will See a âMonster Breakoutâ in the Next Three Days: Analyst
https://cointelegraph.com/news/paypal-to-reportedly-offer-crypto-trading-through-paxos-partnership
https://cointelegraph.com/news/bitcoin-surges-to-93k-for-first-time-in-a-week-is-it-a-fakeout
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BLOOMBERG FORECAST: Bitcoin Set for Massive Bull Run!! 0K+ BTC Price On the Horizon!!
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Bloomberg just released its latest Bitcoin (BTC) outlook on the crypto markets.
Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoinâs adoption among mainstream investors is on the rise.
He expects an advantageous macroeconomic landscape to sustain a Bitcoin bull run that will âdustâ the Nasdaq.
âIncreasing adoption and vehicles for exposure, and custody, are accelerating Bitcoin into the mainstream of investments. In a world of zero and negative interest rates and diminishing equity-price returns due to quantitative easing, the quasi currency stores of value â gold and Bitcoin â are finding increasing investor interestâŠ
Bitcoin $10,000 Breach Set to Dust Nasdaq â Fundamentally bullish and breaking above key $10,000 resistance, Bitcoin has a solid foundation on the back of a steep correction and period of disdain, in our view.â
McGlone adds that Bitcoinâs growing fundamentals suggest BTC is solidifying its position as digital gold.
He says the leading crypto is no longer the highly speculative and unknown asset it once was, with the Bollinger Bands momentum indicator suggesting a burst to $13,000 is imminent.
In contrast, the Bloomberg Intelligence analyst says Ethereumâs hot streak is likely fueled by pure speculation as opposed to BTCâs fundamentally-driven growth.
âEthereum has extended last yearâs highs and leaped to one of the top-performing major crypto assets in 2020, but we view its rally as more speculative vs. the favorable demand vs. supply conditions supporting Bitcoin.â
McGlone says Ethereum is facing heavy competition from protocols that offer the same use case, as a total of 6,000 crypto assets of all sorts flood the markets.
He believes Bitcoinâs scarcity is the key factor driving its value and points to a two-year comparison of BTCâs performance compared to Ethereum, XRP and the altcoin market at large as a sign that BTC is the better long-term play.
Bitcoin is up 54% over the last two years, while Ethereum is down 4.5% and XRP is down 30%.
âItâs the unlimited supply of the broad crypto market vs. the relative scarcity of Bitcoin that will maintain buoyancy in the benchmark asset, in our view. About 90% of the 21 million available Bitcoins have been produced, leaving demand and adoption as the primary price-outlook gauges. Our indicators point positive for Bitcoin, while the basic rules of supply and demand leave little hope of broad-market price advancement.â
In June, McGlone made the case for why BTC may return to its all-time high of $20,000 this year.
In other trending Bitcoin News today:
Panteraâs Founder Foresees $100K+ Bitcoin On the Horizon
Dan Morehead is more conservative in his Bitcoin price predictions than his firm Pantera Capital, though both agree that it will hit $100,000.
Pantera Capital is the oldest Bitcoin investment firm in the United States.
When the companyâs founder, Dan Morehead, was asked to make a Bitcoin price prediction during a recent interview, he first mentioned an investment letter published by the firm.
In this letter, based on the stock-to-flow model, the firm made the bold prediction that Bitcoin will hit $115,000 by August 2021.Â
Morehead thinks this is still possible, despite the fact that in just one year, the assetâs price would have to increase to nearly 10 times its current value.
Yet, his personal prediction is a little more modest, he said:
âMy common response is itâs been growing at 209% for nine years, I think itâs going to grow at least 209% over the next couple years and that puts you at $100 000, probably in two years; but I do think that will happen.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:
In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon.
Yup. #Bitcoin $BTC pic.twitter.com/wdoN6Qgaaz
â Raoul Pal (@RaoulGMI) August 6, 2020
When bitcoin was $4k in 2019, lot of big accounts were bearish, predicting $1k. However in DM mant said that if btc would rise to $6k, they would reconsider and switch to bull. That actually happened, we shot through $6k. Now many were bearish at $9k .. $13.5k will be interesting pic.twitter.com/6D5lArCC6c
â PlanB (@100trillionUSD) August 5, 2020
https://cointelegraph.com/news/panteras-founder-foresees-100k-bitcoin-on-the-horizon
https://cointelegraph.com/news/raoul-pal-it-may-not-be-worth-owning-any-asset-other-than-bitcoin
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TOP ANALYSTS REVEAL THEIR BITCOIN PRICE TARGETS IN EARLY PHASE OF THIS 'MASSIVE' BTC BULL CYCLE!!
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Prominent crypto analysts PlanB and Willy Woo say that Bitcoin is just getting started on its journey towards mass adoption.
In a three-way interview on The Investorâs Podcast Network, on-chain data expert Woo reveals that by his estimations, whales are heavily accumulating BTC while retail investors are just getting started, indicating that Bitcoin is still in the early stages of a bull market.
âWhat we expect right now is that eventually retail will come in and thatâs what weâre seeing right now⊠Weâre seeing this quiet accumulation of even more whales come in and weâre seeing the very first hints of retail. And when retail comes in, youâll see the inventory on spot exchanges increase. Now they increase because retail are small holders and they tend to store their coins on the Coinbases of this world.Â
In the later phases of this bull market, youâll see the inventory on these exchanges increase and weâre still not seeing that yet. So weâre all really early in this phase.Â
Itâs just mind blowing how different it is in that the length of the accumulation off of exchanges is so long and so deep. And secondly, the amount of whales which are holders of more than 1,000 coins, so around $35 million, $40 million of Bitcoin upwards, theyâre exploding in numbers right now and weâve never seen such a sharp climb in that species of holders.â
Woo goes on to explain that, although the cycle may still be in its infancy, the trader has not quite seen a bull market like this one, predicting that Bitcoin will likely never dip below $30,000 again.
PlanB echoes Wooâs bullish outlook, hypothesizing that there is likely at least half a year left in the current bull cycle.
âI totally agree with Willy that weâre in a bull market and in the early phase so we have a long way to go if you ask me. Weâre in the bull market since November-December, so we have at least a half year to go.â
The tradersâ targets for BTC this cycle also indicate that the flagship cryptocurrency has plenty of room to run this cycle.
Woo says that his mean reversion model shows BTC at least doubling by the time it reaches a top.
âThis is a mean reversion model. Fancy words for saying that everything tends towards averages⊠Right now, when Iâm looking at it, itâs $102,000 and it tends to curve upwards. So weâve still got a bit of room to move.â
In a Twitter post, PlanB makes two predictions using the stock-to-flow model.
PlanB says that if the current cycle behaves like the 2013 cycle, then a price target of $300,000 BTC is in the cards. If it behaves like the 2017 cycle, then $100,000 BTC is the key level instead.
âIt already tells a lot. Thereâs a lot of people thinking that cycles are going to be longer and lower, but well, this data point shows itâs right in the middle of the last two halvings and not lower, so thatâs one point. The other point is the chart also shows that after the initial bull market, it will sort of stabilize at an equilibrium after the bull market so it goes down and it stabilizes. For 2013, that was around â if you compare to current price levels â around the $300,000 level. If you look at the more current 2017 bull run, that sort of stopped at the $100,00 level and I find those very interesting of course because those are exactly the price levels of my stock to flow model.âÂ
In other trending Bitcoin News today:
â$50K and BTCâs biggest weekly candle ever: 5 things to watch in Bitcoin this weekâ
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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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Dear Indian #Bitcoiners
Gandhi marched to the sea and made his own salt, an act of civil disobedience that defeated an empire #Bitcoin is civil disobedience that allows you to make your own money Oppressive, centralized, money-printers are collapsingThe Rupee is dead. pic.twitter.com/bfj45wkCBd
â Max Keiser (@maxkeiser) February 14, 2021
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