BITCOIN DOMINANCE DROPS TO 3 YEAR LOW!! GUGGENHEIM $400K LONG TERM PREDICTION STILL STANDS!!

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Bill Miller, chairman and chief investment officer of Miller Value Partners, is sharing his crypto investment strategy and why he’s bullish on Bitcoin (BTC).

In a FutureProof interview, the head of the investment firm that manages $3 billion in assets describes the start of his journey as a BTC believer.

“I got involved in Bitcoin around 2013. It was trading at around $200 or so when I started buying it. Then it ran up to around $1,100 to $1,200 and then Mt. Gox collapsed. [Bitcoin] collapsed all the way back to $200 again in 2014. I began to buy it again… My average cost is about $300 [a coin].”

Miller says there are several fundamental reasons why he became an early adopter and long-term advocate of the world’s leading cryptocurrency.

“The nature of what it was trying to do, it had many different ways to win. My view was if any of those various things – it became a currency, it became a payment system, it became a non-correlated asset – any of those things, much less all of them, would lead to a very dramatic move in the underlying price.

That was also helped along by the fact that it is limited to 21 million Bitcoin and it is decentralized. It is not able to be tampered with or debased.”

From an investment standpoint, Miller says Bitcoin continues to offer a very favorable risk-reward ratio.

He’s an advocate for a small 1% to 2% portfolio allocation to BTC.

In the long run, he believes he could earn a 1000x or more return on his BTC investment, which would place Bitcoin at $300,000.

“I could make 100x of my money. I could make 1,000x, maybe more than that. I can only lose 100%… I still have it. I haven’t sold any Bitcoin… Back in the 70s and early 80s, people were talking about putting 5% of your assets in gold because it’s a hedge.

It’s an insurance policy in case inflation comes back again as it did in the 1970s. I would say that if that’s a sensible thing to do, then, certainly to have 1 to 2% of your assets in Bitcoin makes great sense here.”

The experienced investor also makes a unique case as to why Bitcoin is less risky now compared to when it was trading below $100.

“For most assets that you buy, the more they go up in price, the less value there is to be extracted out of it, and the riskier it becomes.

Bitcoin is in an unusual position of being the exact opposite of that. It was very risky when it was trading at a dollar, $5, or $10. It could have easily disappeared.”

In other trending Bitcoin News today:

Bitcoin Price Stalls at $9,300, Altcoins Rally to New Multi-Year Highs

Within the last few hours, the Bitcoin (BTC) price pushed above $9,300 after struggling to hold the $9,300–$9,400 level for the past three days. 

As Bitcoin price slowly worked its way through resistance to $9,300, a handful of the top-50 altcoins posted strong double-digit gains.

Cardano (ADA) reached a new two-year high by rallying 26% to $0.13. 

Chainlink (LINK) also rallied 6.11% to a new all-time high at $5.99.

VeChain (VET) was another top performer for the day with a 21.6% rally.

According to CoinMarketCap, the overall cryptocurrency market cap now stands at $271.3 billion and Bitcoin’s dominance rate is 63%.

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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/bitcoin-price-stalls-at-9-300-altcoins-rally-to-new-multi-year-highs

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

Mike Novogratz, CEO of crypto management firm Galaxy Digital, is dramatically pushing up his bullish Bitcoin  price prediction for 2021.

In a Bloomberg Technology interview, Novogratz shares that he’s witnessing the rising interest of big and institutional investors into BTC.

“We started seeing one group of investors after another. It was corporates with Square and MicroStrategy and Tesla. It was insurance companies with Mass Financial and others. It’s high-net-worth individuals. It’s ETFs (exchange traded funds).

All of a sudden, we went from a world where buying Bitcoin was kind of fringy or risky to not having it being risky right to not having this part of your portfolio in a world of central banks printing money. Our business at Galaxy is booming. We can’t hire salesmen fast enough to cover all the institutional accounts that want to either understand it or participate.”

As more institutions embrace the flagship crypto asset, the Bitcoin bull predicts that the BTC price will more than double and hit $100,000 by the end of 2021.

“It feels like we’re going to consolidate a little bit here in this $50,000 area, caught [between] $42,000 to $60,000 but then the next big leg is up to $100,000, and that wouldn’t surprise me at all if we crack a hundred by the end of the year.”

In November 2020, Novogratz predicted that Bitcoin will hit $20,000 first and then $65,000. The Bitcoin advocate’s newest projection presents an upside potential of nearly 120% as the leading cryptocurrency is currently trading around $45,500.

Novogratz adds that he believes older investors will likely get into the Bitcoin revolution soon.

“You know it surprises me. I’m saying that you know where I was in November, but the adoption I’m seeing is shocking, and it’s not like I’m just guessing. I’m looking behind me, in front of me, and seeing all these new projects that are coming, banks that are going to issue products for their wealth management businesses. Every big bank in America is working on a wealth management product, and so we’re going to get into the baby boomers sooner than I thought we would.”

In other trending Bitcoin News today:

3 reasons Bitcoin Recovered By 8% Overnight — Key Levels To Watch Next

The price of Bitcoin (BTC) recovered by more than 8% overnight on March 1 following a steep drop during the weekend.

There are three reasons the price of Bitcoin recovered swiftly in the past 24 hours. They include the recovering global stock market, rising Coinbase premium, and a typical weekend reversal.

The global stock market has started to recover as soon as the market opened on Monday, March 1.

The stock market slumped over the past week due to the rising Treasury yield curve. As the bond market rallied, risk-on assets, such as stocks, saw a pullback.

Holger Zschaepitz, said the global risk markets started the week strongly as bond yields eased. He said:

“Global risk mkts start the week on the front foot as bonds rally. Australia’s 10y yield fell 25bps, German 10y drops 3bps ahead of inflation data. US 10y steady at 1.41%. Following last week’s bloodbath, easing in bond yields is big relief. Gold gains to $1757. Bitcoin at $46.8k.”

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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:

The all-fiat money global experiment that started in 1971 led to increasing synchronized central bank policies. Now, there is only one global bank. And it’s about to fail (due to a collapse in confidence in fiat money, exacerbated by the rise #Bitcoin) pic.twitter.com/Fg82WkA9CI

— Max Keiser (@maxkeiser) February 28, 2021

Citibank have released a 106-page report on #Bitcoin.

BTC’s attributes “could spur it to become the currency of choice for international trade…. Bitcoin is at a tipping point and we could be at the start of a massive transformation of cryptocurrency into the mainstream.” pic.twitter.com/i8lrpxn5Ha

— Bloqport (@Bloqport) March 1, 2021

https://cointelegraph.com/news/3-reasons-bitcoin-recovered-by-8-overnight-key-levels-to-watch-next

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“The Bitcoin price will skyrocket to $250,000 by the end of 2022 – BTC will make it look very easy” says CMDX founder Tom McMurrain.

In this exclusive crypto interview we discuss everything from the latest BTC price predictions, Ethereum (and its supply cap), Chainlink, DeFi, altcoins as well as a potential altcoin season here amongst us in late 2020.

We also talk about how to create your own cryptocurrency and even more importantly how to create massive demand utilizing scarcity to grow a thriving crypto community.

🔥 For more details on CMDX – the fastest growing health rewards cryptocurrency in the world, please visit: http://cmdx.io

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

Ledger: ► http://ledger.cryptonewsalerts.net

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:

For more details on CMDX – the fastest growing health rewards cryptocurrency in the world, please visit: http://cmdx.io