BITCOIN CRASHING AS WHALES MASS ACCUMULATE!!!! RELIEF RALLY COULD TAKE BTC TO THESE PRICE LEVELS!!!!

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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 Investor’s 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.

“What we expect right now is that eventually retail will come in and that’s what we’re seeing right now… We’re seeing this quiet accumulation of even more whales come in and we’re seeing the very first hints of retail. And when retail comes in, you’ll 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. 

In the later phases of this bull market, you’ll see the inventory on these exchanges increase and we’re still not seeing that yet. So we’re all really early in this phase. 

It’s 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, they’re exploding in numbers right now and we’ve never seen such a sharp climb in that species of holders.”

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 Woo’s bullish outlook, hypothesizing that there is likely at least half a year left in the current bull cycle.

“I totally agree with Willy that we’re in a bull market and in the early phase so we have a long way to go if you ask me. We’re in the bull market since November-December, so we have at least a half year to go.”

The traders’ 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.

“This is a mean reversion model. Fancy words for saying that everything tends towards averages… Right now, when I’m looking at it, it’s $102,000 and it tends to curve upwards. So we’ve still got a bit of room to move.”

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.

“It already tells a lot. There’s a lot of people thinking that cycles are going to be longer and lower, but well, this data point shows it’s right in the middle of the last two halvings and not lower, so that’s 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 – if you compare to current price levels – 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.” 

In other trending Bitcoin News today:

“$50K and BTC’s biggest weekly candle ever: 5 things to watch in Bitcoin this week”

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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:

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 collapsing

The Rupee is dead. pic.twitter.com/bfj45wkCBd

— Max Keiser (@maxkeiser) February 14, 2021

https://cointelegraph.com/news/50k-and-btc-s-biggest-weekly-candle-ever-5-things-to-watch-in-bitcoin-this-week

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It is looking increasingly likely that the recent Bitcoin price dip to lows of $6,500 will mark a long-term bottom for the cryptocurrency, as its bulls have been able to propel its price higher and sustain their momentum, with the Bitcoin (BTC) price now targeting a movement to $8,000.

Analysts are now noting that Bitcoin is clearly shifting its recent downtrend in favor of its bulls, which may mean that significantly further upside is imminent for the cryptocurrency.

Alex Krüger, a popular economist who focuses primarily on cryptocurrencies, explained in a recent tweet that he believes Bitcoin is currently expressing signs of showing a clear long-term bottom. “My current $BTC roadmap. Should be obvious why I believed $8000 “will trade again soon”, it’s where downtrend accelerated. The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive. Nothing to chase if not long IMHO,” he explained while pointing to a couple charts seen in the below tweet.

In other Crypto news today…

Accurate trader calls for a $1,000 Bitcoin and destruction of Crypto industry.

Whatever the case may be, one crypto analyst who has made a string of accurate calls in the past, is now saying that Bitcoin will go “to the $1,000 range.”

The analyst explains that this would be “good for crypto” as it would “destroy investors and projects,” claiming that’s exactly what the space needs. He also tweeted the following regarding the Ripple XRP price, “While I love XRP (and I do believe that it is superior to all other cryptocurrencies) if BTC falls to the 1000 range as I’m currently anticipating, I think XRP could simultaneously fall to 0.03. I hate to report that, but that’s what the charts suggest, if BTC falls to 1000.”

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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:

Some ways to determine an asset is in a bull market:▷ Percent from bottom before equivalent drop from top, e.g. 20% for stocks, say 50% for bitcoin.▷ Moving averages, e.g. price>200DMA, 50DMA>200DMA.▷ Price relative to key levels, e.g. above X.

▷ Rise over X time.

— Alex Krüger (@krugermacro) July 27, 2019

My current $BTC roadmap. Should be obvious why I believed $8000 “will trade again soon”, it’s where downtrend accelerated.The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive.

Nothing to chase if not long IMHO. pic.twitter.com/uPzJpKqd6f

— Alex Krüger (@krugermacro) November 29, 2019

$BTC gameplanNo need to overthink it, if we break $7.4k I’ll be looking for longs.

Really hope we find the strength to do so, not necessarily for the increase in price, but to get the chance to play such clean levels again. pic.twitter.com/3Tkpo5mbNi

— HornHairs 🌊 (@CryptoHornHairs) November 27, 2019

Accurate Trader Calls For $1K Bitcoin and Destruction of Crypto Industry

Bitcoin is a Clear Long After Forming Textbook Bottom, Claims Analyst

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A self-declared cryptocurrency whale whisperer known for being a top trader on BitMEX is bullish on the Bitcoin price trajectory over the next five months.

In a new viral tweet, AngeloBTC tells his 150,000 followers on Crypto Twitter that BTC is coiling in a triangle that will lead to an eventual breakout and surge to $16,000 by October.

Last month, Angelo compared the current BTC price path to the early days of its epic run to $20,000 back in 2017.

This time around, he believes Bitcoin is en route to $30,000 in 2021. “Crazy how they had to tank the stock market to shake people out before the halving.

Crazy how we are still going to $30k.” BTC is currently battling psychological resistance at the $9,000 level.

At time of publishing, Bitcoin is down 4.50% in the last 24 hours at $9,072, according to CoinMarketCap.

That’s an 8.39% drop from a recent high of $9,903 set on May 17th.

In the short term, analyst and trader Michaël van de Poppe says BTC is at risk of a further drop to low $8,000 levels.

“Testing the support level here (might wick to $9,100), after breaking below the rising wedge structure. Holding here and we can test the range highs again. If Bitcoin can’t, I’m assuming the $8,200-8,500 level to be tested as support next.”

In other trending Bitcoin News today:

Bitcoin Traders Now Eye $6-7Ks After 4 Failed Attempts to Break $10K

The price of Bitcoin is set to test lower levels as support after numerous attempts to break $10,000 have failed.

Since May 20 Bitcoin (BTC) price has dropped nearly 10%, shifting traders’ focus from taking out the $10K resistance to now holding above the all-important $8,800 support. 

The short-term bearish trend took hold after the top-ranked crypto-asset on CoinMarketCap experienced repeated rejections near the $10K mark, which took the form of higher lows at $9,942, $9,905 and $9,849. 

Failure to set a higher high above these levels and the steady loss of momentum eventually caused the price to drop below the bullish pennant and the last two days have seen the bearish move intensify. 

For the time being, Bitcoin price continues to find support at the ascending channel trendline but the strength of each bounce from this support is beginning to thin and a number of traders are now calling for a revisit to $7,400-$6,500 if the $8,800-$8,575 support gives out.

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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:

Imagine shorting the best performing asset of the decade.

— Angelo฿TC (@AngeloBTC) May 21, 2020

https://cointelegraph.com/news/bitcoin-traders-now-eye-6-7ks-after-4-failed-attempts-to-break-10k

https://cointelegraph.com/news/dont-buy-bitcoin-says-wealth-exec-as-lebanon-chooses-btc-over-fiat