BITCOIN CRASH 55% FROM IT’S ALL-TIME HIGH BUT $83,000 BTC PRICE NOW IN THE CARDS FOR MID-JUNE!!

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A well-known Bitcoin influencer and analyst just gave one of the most bullish Bitcoin price predictions on record, saying the top cryptocurrency could skyrocket to $5 million per BTC.

The pseudonymous analyst, known in the industry as Carl the Moon, has a collective following of 170,000 on Twitter and YouTube.

In a new interview with Coin Post, he says the bold Bitcoin prediction depends on the future of fiat currency.

“If you look at the currency supply of the world, it is currently valued at $100 trillion. If Bitcoin takes over this whole pool of liquidity, this fiat money pool, then this means that Bitcoin could potentially take over this market cap and that would put Bitcoin at approximately $5 million per Bitcoin.”

Carl says he believes the current global economic landscape is favorable for the number one cryptocurrency. 

“I think it’s obvious that Bitcoin is eventually going to break $20,000. We’re seeing central banks printing currency like never before. And what we’re seeing is [an] historical amount of currency printing, this is the exact scenario that Bitcoin was created for. Fundamentally, Bitcoin is looking extremely bullish, much more bullish than on a technical level.”

While the pseudonymous analyst is bullish on Bitcoin, he says that most traders will likely lose money trying to time BTC’s price action.

“I think that people that hold Bitcoin will be the biggest winners in the world because Bitcoin has been the best performing asset of the previous decade. It will continue to be the best performing asset of this decade in my opinion.

Traders can make more money than holders if they actively trade and if they know what they’re doing. But people that are not experienced tend to lose money when trading. Approximately, 80 to 90% of people that trade actually lose money over time.”

In the short-term, the analyst says Bitcoin just needs to break $14,000 in order to start the big uptrend. 

“I believe Bitcoin is currently in a bull market but I’m not so sure that we have started the big Bitcoin bull run just yet… The big question is will Bitcoin be able to break this previous high. There was a high at approximately $14,000 back here in June – July 2019. I think that when we break this level, then I can say for sure we are guaranteed in a bull market.” 

Carl, who, says Bitcoin must stay above a crucial technical indicator to have a chance to breach key resistance of $14,000 and then move on to $20,000.

“For us to reach $20,000 obviously we’re going to have to reach $14,000 first, but more importantly we have to break it. If we get rejected here, then that would be a bad sign… If Bitcoin can hold above this 20-weekly moving average here, then the 20-weekly might look something like this and we will see the Bitcoin price maybe do something like this.

In that case, maybe we could see Bitcoin break above $14,000 before April 2021. When we break the $14,000, then I think we’re going to see a huge candle. We’re going to see a massive move up to $20,000.”

In other trending Bitcoin News Today:

Vitalik Buterin Updates Ethereum 2.0 Roadmap, Details Plans to Exponentially Increase Scalability

The Ethereum co-founder says the leading smart contract protocol will rely on rollups to massively elevate the throughput of the leading smart contract platform by over 666,500%.

“Today, Ethereum has ~15 TPS (transactions per second). If everyone moves to rollups, we will soon have ~3000 TPS. Once phase 1 comes along and rollups move to eth2 sharded chains for their data storage, we go up to a theoretical max of ~100000 TPS… Eventually, phase 2 will come along, bringing eth2 sharded chains with native computations, which give us… ~1000-5000 TPS.

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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://dailyhodl.com/2020/10/04/influential-crypto-analyst-says-bitcoin-could-reach-5-million-but-most-traders-will-lose-money/

https://news.bitcoin.com/kucoin-ceo-says-exchange-hack-suspects-found-204-million-recovered/

https://dailyhodl.com/2020/10/04/influential-crypto-analyst-says-bitcoin-could-reach-5-million-but-most-traders-will-lose-money/

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Bitcoin Billionaires, the Winklevoss twins, believe BTC as “digital gold” would compete against gold over the long term, recently making the case for a $500K Bitcoin price.

Specifically, its immense upside potential makes it an attractive investment since the Bitcoin market capitalization is still roughly only 1.5% of gold.

Cameron Winkelvoss, the co-founder of Gemini, said BTC has already made significant ground on gold. He said:

“Bitcoin has made significant ground on gold — going from white paper to over $200 billion in market capitalization in under a decade. It will continue to cannibalize gold dramatically over the next decade.”

Warren Buffett and Berkshire Hathaway substantially cut their position on Wells Fargo, selling 100 million shares.

The Oracle of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC).

Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion.

Throughout his career, Buffett emphasized the importance of value investing and cash flow.

The investor typically prefers businesses with predictable and stable operations that result in consistent profitability.

In July, Wells Fargo posted a $2.4 billion loss, recording its first loss since the 2008 housing crisis. Following the disappointing quarterly report, the company said it would cut its dividend to 10 cents per share.

But the persistent theme in Berkshire’s portfolio reshuffle in recent months is its investment in Barrick Gold.

While decreasing its exposure to the U.S. banking sector, Buffett invested in gold and Japanese trading companies.

The decision shows that Buffett is seeking safety in terms of cash flow and a hedge against inflation.

The Barrick Gold investment fuels the bull case of Bitcoin because the perception of BTC as a store of value is improving, especially given the tight correlation between the two since the March 2020 crash.

In other trending Bitcoin News today:

Perfect storm leads to big sell-off for Bitcoin and DeFi: Weekly Recap

A significant drop in equities markets was led by blue-chip stocks that had been at all-time highs.

As this occurred, many tokens tied to DeFi platforms corrected sharply, most notably, SushiSwap (SUSHI) which lost nearly 40 percent of its value.

The correction in traditional markets appears to have influenced Bitcoin’s (BTC) more than 10 percent drop before a small bounce back to the $10.3-$10.4K range.

Ethereum transactions soared to multiple new all-time highs for the second time in three weeks and Uniswap V2: Router 2 is now the lead contributor to gas usage, according to Etherscan.

The decentralized exchange is followed by Tether (USDT); and then the latest DeFi sweetheart that is SushiSwap: MasterChef LP Staking Pool.

And so, Tether has finally been dethroned from its top spot as the main contributor of gas usage.

The fact that it was toppled by none other than a DeFi platform speaks a lot for the recent growth of the industry and, as it stands, over $9.34 billion is locked across various platforms.

Currently, Aave, Maker and Uniswap constitute about $1.5 billion TVL each.

On the one hand, DeFi is a high risk, high reward market, but so is trading small-cap (pink sheet) stocks. Both clearly have a

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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 has made significant ground on gold — going from white paper to over $200 billion in market capitalization in under a decade. It will continue to cannibalize gold dramatically over the next decade.

— Cameron Winklevoss (@winklevoss) September 4, 2020

Buffett’s move into Japan, along with his $GOLD investment, confirms he’s getting out of $USD BIGLY $USD is trending lower today, about to break key support #Bitcoin – Gold – Silver

Will all make new ATH in the near term

— Max Keiser (@maxkeiser) August 31, 2020

Bought more $LINK and $YFL

Because Chainlink based asset tend to be some of the fasted to recovery post Bitcoin dips

— Josh Rager 📈 (@Josh_Rager) September 3, 2020

https://cointelegraph.com/news/buffett-dumps-wells-fargo-amplifying-bull-case-for-gold-and-bitcoin

https://dailyhodl.com/2020/09/03/analyst-says-hes-bullish-on-four-altcoins-after-big-bitcoin-and-crypto-market-sell-off/

https://cointelegraph.com/news/perfect-storm-leads-to-big-sell-off-for-bitcoin-and-defi-weekly-recap

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Michael Saylor , CEO of Microstrategy ($MSTR) predicts Bitcoin will continue appreciating in value to the point where BTC becomes a “stabilizing influence” for the entire global financial system. He predicted, in a bold call, that Bitcoin’s market value will skyrocket to $100 trillion.

“There’s a $500 trillion monetary planet and the outer layer is currency, then you’ve got stocks, bonds, real estate. There’s $10 trillion worth of gold in there, $1 trillion of bitcoin in there. Bitcoin is going to flip gold, and it’s going to subsume the entire gold market cap.

Then it’s going to subsume negative-yielding sovereign debt and other monetary indexes until it grows to $100 trillion. Once it gets to $10 trillion, its volatility will be dramatically less,” Saylor said. “As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”

In other trending Bitcoin News today: Looming Bitcoin Supply Squeeze Could Trigger New Bull Cycle, According to Crypto Analytics Firm Glassnode!

Certain Bitcoin ownership metrics indicate that Bitcoin (BTC) could be teeing up for a bullish market cycle, according to the blockchain analytics platform Glassnode.

“On an absolute coin volume basis, LTHs currently own the most coins in history, hitting 12.97M BTC this week.

Peaks in LTH-owned supply typically correlate with late-stage bear markets which are historically followed by a supply squeeze and initiation of cyclical bull runs.”

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

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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://www.cnbc.com/2021/02/23/microstrategy-ceo-michael-saylor-sees-bitcoin-100-trillion-market-value-one-day.html

https://cointelegraph.com/news/skybridge-raises-100m-for-algorand-fund-and-files-for-crypto-company-etf

https://cointelegraph.com/news/btc-holds-48k-as-evergrande-forms-lehman-brothers-moment-for-china