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The chief investment officer of investment giant Guggenheim has repeated his warning that Bitcoin (BTC) will crash to $20,000.Â
In an interview with CNBC on April 20, Scott Minerd warned again that Bitcoin could lose half of its value in a pullback, however, his longer-term forecast of $400,000 per Bitcoin still stands.
In other trending Bitcoin News today:
Bitcoin Dominance Drops Below 50% For The First Time In 3 Years
The move came as Bitcoin was about to lose its market cap dominance supremacy to altcoins in what traditionally marks the ârealâ start of the âalt season.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:
https://cointelegraph.com/news/guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning
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BITCOIN SURGED 4,000% AFTER IT TOOK THIS LEVEL IN 2016. IT JUST HAPPENED AGAIN!! | BTC Halving 2020
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BITCOIN RETAKES CRUCIAL KEY LEVEL THAT CATALYZED
4,000% RALLY According to a crypto trader, Bitcoinâs strong rebound in April saw the BTC price close its monthly candle above a key level of the Ichimoku Cloud on the one-month chart.
This is relevant for BTC because the last time Bitcoin claimed this technical level was in early 2016, when the Bitcoin price was trading around $500 and prior to the 4,000% rally that brought the cryptocurrency to $20,000 just 20 months later.
This historical precedent suggests that the crypto market is on the verge of its next parabolic rally.
This is the latest of many historically-relevant signs that Bitcoin is soon going to erupt into a full-blown bull run.
Bitcoinâs trend earlier this week was so strong that amid the peak of Wednesdayâs rally a trader observed an unexpected technical occurrence:
The relative strength index (RSI) reading of Bitcoinâs one-hour chart hit 96.5 â just a few points shy of the top of the oscillator, 100.
Traditional forms of technical analysis state that whenever the RSI passes the level of 70, it is overbought over the time frame that is being analyzed.
The fact that Bitcoinâs one-hour RSI briefly hit 96.5 means that it was extremely overbought, almost to the point of lunacy.
According to a crypto trader, the last time this metric was this high for BTC was in April 2019, on the day that the cryptocurrency rocketed 25% higher within the span of a few hours.
What followed this move was an extended rally from the $4,000s to $14,000 within three months.
Similarly, a trader shared the chart in the wake of Bitcoinâs recent strength, noting that the rising wedge that had constrained Bitcoinâs price for the past six weeks has been decimated, with clear invalidation to the upside.
Whatâs especially notable about this formation of BTC breaking above a rising wedge after a bear market, this is the exact same market structure that marked the start of 2019âs bull run, which brought prices from the $4,000s to $14,000 in three monthsâ time.
In other trending Bitcoin News today:
Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches
A prediction that Bitcoin (BTC) is about to begin a fourth parabolic phase that will bring the leading cryptocurrency to more than a quarter-million dollars is lighting up the cryptoverse.
A post revealing the new forecast from price analyst PlanB shot across crypto Twitter this week, with more than 4,200 likes.
But the forecast itself has reignited the great debate on the relationship between Bitcoinâs halving â which will slash the rate of new BTC entering the market in a matter of days â and the price of BTC.
According to PlanB, who recently told Morgan Creek Digital co-founder Anthony Pompliano that heâs a member of an institutional investment team that manages roughly $100 billion in assets, his latest stock-to-flow model shows BTC rising to $288,000 by the end of 2024.
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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:
Daily Ichimoku will very likely confirm fully bullish on todays close, as well as 2D Kumo Breakout with a bullish Kumo Twist
I cannot not be bullish on Q2. I want to buy dips. pic.twitter.com/1OUDSintY9
â Smokey (@TraderSmokey) May 1, 2020
Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches
Post Views: 204 -
PANTERA PLACES BITCOIN PRICE TARGET AT 5K THIS CYCLE!! MICROSTRATEGY RAISES BTC HOLDINGS TO 5M
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Pantera: Bitcoin in Early Stages of Large Bull Market Fueled by Powerful Macro Tide â Hereâs How High THE BTC PRICE Could Go This Cycle
Executives at the crypto-focused venture firm Pantera Capital think future inflation will drive up the prices of Bitcoin and other crypto assets.
In a new market report, Dan Morehead, Panteraâs CEO and co-chief investment officer, and Joey Krug, the firmâs other co-chief investment officer, highlight the Federal Reserveâs new policy of allowing inflation to support the labor market, which they say is going to kick off a new bull run for digital assets.
âAssets such as gold which have not been impaired by the pandemic are rising even faster. Gold is at a 5,000-year high. Or, said another way, paper money is at an all-time low. However, the best performing assets are ones which have both fixed-supply and improved usage/fundamentals â like cryptocurrency.
Cryptocurrency has out-performed most/all other asset classes this year. We strongly believe we are in the early stages of a large bull market fueled by both a powerful global macro tide and growing fundamentals in the underlying technology.â
Morehead has placed his BTC price target at $115,000, which he thinks will likely happen by next summer.
Despite their confidence, however, they still warn that Bitcoin is volatile and risky, and remains a âmassive hype cycle roller coaster.â
In terms of their own investments, Pantera recently sunk money into YFI and Terra (LUNA), according to the executives.
YFI is a two-month-old governance token for the decentralized finance (DeFi) protocol yearn.finance.
The asset has been largely immune to the September slump that plagued other cryptocurrencies and is trading at almost $40,000 at time of writing, according to CoinMarketCap.
Terra is a network of stablecoins pegged to some of the worldâs major currencies. LUNA, Terraâs native staking asset, can be traded or staked to earn rewards in the network generated from transaction fees.
It is trading around $0.32 at time of writing.
In other tending Bitcoin News today:
Nasdaq-Listed Microstrategy Raises Bitcoin Holdings to $425 Million After Second Purchase
âOn 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.â
This follows an update the company provided the SEC about its bitcoin investment plan.
In the filing dated Sept. 11, the Nasdaq-listed company revealed that its board of directors has adopted a new Treasury Reserve Policy âthat updated the companyâs treasury management and capital allocation strategies.â
Under this new policy, the companyâs treasury reserve will consist of two types of assets.
The first type comprises âcash, cash equivalents, and short-term investments ⊠held by the company that exceed working capital needs.â
The second type consists of âbitcoin held by the company, with bitcoin serving as the primary treasury reserve asset on an ongoing basis, subject to market conditions and anticipated needs of the business for cash assets, including future potential share repurchase activity.â
Microstrategy clarified:
âAs a result of this new policy, the companyâs holdings of bitcoin may increase beyond the $250 million investment.â
Michael Saylor, Microstrategyâs CEO, has not always been pro-bitcoin.
He tweeted back in 2013: âBitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.â
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Trezor: âș 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:
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.
â Michael Saylor (@michael_saylor) September 15, 2020
Apparently there is some kind of bitcoin buying race between MicroStrategy and @Grayscale
Game on
â Barry Silbert (@barrysilbert) September 15, 2020
MicroStrategy is adopting a #bitcoin standard. Other companies will follow. Finally, central banks will follow (Switzerland likely to be the first.) A new gold standard for the digital age. A neutral store-of-value will create more check and balances for governments.
â Datavetaren (@Datavetaren) September 16, 2020
https://news.bitcoin.com/nasdaq-microstrategy-bitcoin-425-million/
https://cointelegraph.com/news/other-companies-will-follow-mstr-stock-up-9-after-buying-bitcoin
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John McAfee Launches Decentralized Cryptocurrency Exchange McAfeeDex in Beta!
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John McAfee, American entrepreneur and vocal Cryptocurrency advocate has launched a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain.
McAfeeDEX is set to run in a beta release status as of Oct. 7th today, according to the new platformâs official website and John McAfeeâs Twitter personal feed.
McAfee tweeted, âThe McAfee Distributed Dex beta version is coming 10/7. Play with it. It takes time for enough users to join to make it real, but if you play, and be patient, you will see itâs the door that frees us from Governmentâs cornerstone of control: Fiat currencies. It canât be shut down.â
In other Bitcoin news today:
BTC and the entire Crypto market is pumping as most all the major cryptocurrencies are in the green.
Are Altcoins ready to explode?!
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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.
News Resources From Todayâs Show:
The McAfee Distributed Dex beta version is coming 10/7. Play with it. It takes time for enough users to join to make it real, but if you play, and be patient, you will see it’s the door that frees us from Government’s cornerstone of control: Fiat currencies. It can’t be shut down pic.twitter.com/W3XCExspQT
â John McAfee (@officialmcafee) October 5, 2019
https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta
Post Views: 168