BITCOIN ETF COULD BE APPROVED THIS WEEK!!! | BTC Price Will Rally Higher!

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Adam Back, the CEO of Blockstream who was quoted in Satoshi’s white paper, says that the Bitcoin price hitting $20,000 would’t seem surprising to him if that happened due to the current BTC market conditions.

“woke up to a vivid dream this morning, which took a moment to realize was a dream. sure you’ve had them once in a while. it was that bitcoin hit $20k overnight and then pulled back to $16k. didn’t seem surprising given the market conditions, so it wasn’t price that caused wakeup” – Adam Back

Bitcoin Could Rocket Higher

It is worth noting that Back accurately called Bitcoin’s recent price spike.

As reported by U.Today, he explained that dip buyers would soon start putting their cash to work.   

The drop that followed dampened bullish sentiment, but it remains to be seen whether this downtrend will continue.

With the U.S. Federal Reserve firing new bazookas and the Bank of England promising to print an unlimited amount of money, there hasn’t been a better time for Bitcoin (BTC) to shine. 

Bitcoin Price Analysis: BTC Continues To Be Resilient As Economy Tanks – Are We Headed Above $7,000 Next?

Bitcoin fell by a total of 4% over the past 24 hours of trading.

It had dropped much further lower but managed to find strong support at $5,786 which allowed the cryptocurrency to rebound higher and break back above $6,000.

The cryptocurrency is proving to be extremely resilient as it continues to stabilize whilst the rest of the economy around the world continues to fall further lower.

Short term prediction: NEUTRAL Bitcoin remains neutral and would need to close above $6,500 before we can consider a very short term bullish trend. 

Toward the upside, the first level of strong resistance lies at $6,175.

The coin has struggled with this resistance over the past 4-days of trading and failed to close above here on each attempt.

Above this, resistance lies at $6,542 (bearish .5 Fib Retracement) and $7,000. If the buyers continue to drive even further above $7,000, resistance lies at $7,100, $7,174 (bearish .618 Fib Retracement), and $7,270.

On the other side, support is located at $5,786. This is followed with support at $5,600, $5,500, and $5,467 (.618 Fib Retracement).

Key Levels Support: $5,911, $5,786, $5,600, $5,500, $5,467 $5,200, $5,000, $4,800, $4,672, $4,577, $4,139, $4,000, $3,912, $3,500, $3,436..

Resistance: $6,174, $6,542, $6,700, $6,800, $7,000, $7,174, $7,200, $7,270, $7,500, $7,676, $8,000, $8,073, $8,250, $8,461, $8,672, $8,979, $9,000, $9,100.

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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:

$btc will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC’s year.

— Michael Novogratz (@novogratz) March 22, 2020

but don’t write off the value of liquidity, trading with less 3rd party custody, atomic trade – that’s part of the value of bitcoin. cypherspace zero trust things are very cool and literally a cypherpunk dream realized already https://t.co/AC5CnuFGlX

— Adam Back (@adam3us) March 21, 2020

https://u.today/bitcoin-btc-price-hitting-20000-wouldnt-be-surprising-for-blockstream-ceo-heres-why

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

The CEO of digital payment platform Abra says Bitcoin could break $250,000 before year’s end, but he also thinks that the crypto markets are overdue for a healthy correction.

On a new episode of What Bitcoin Did with Peter McCormack, Bill Barhydt says he’s looking for potential resistance at the $60,000 level before a massive BTC correction ensues.

“If I look at the tea leaves, we haven’t had a 30% pullback since we went back down to $30,000 when we first got up to $44,000, $43,000, whatever it was, so we’re due for that. If I had to guess, I would say if you look at the upward slope that we’ve been on since December, depending upon how fast we get there, if it’s in February, we could top out just below $60,000 and then easily fall 30% and that would actually wind up the rubber band to probably go to $85,000 to $90,000. That would take us probably through August which if you look at stock to flow (S2F), it’s basically said that’s around the time it should happen and it’s uncanny, I mean it really is uncanny how accurate that model has been.”

Although Barhydt is short-term bearish on Bitcoin, he predicts that the largest crypto asset has more upside potential but its bull market peak may all depend on the rate of adoption of big corporations.

“What’s interesting is once you get to that August timeframe when you start to approach $100,000, PlanB’s two models diverge. Because he’s got the one model, the original stock to flow which says we’re at $100,000 for 24 months basically. And then he’s got his cross-asset model which basically talks about the next phase which says, ‘Hey we get up to $250,000 this year…’

Last December, when I went on, I think, your show and I talked to [Anthony Pompliano] and others, I basically said I think Bitcoin is going to be at $100,000 by the end of 2021. I still think that’s right but I think that if we get a bunch of other Fortune 500 companies making announcements like Tesla, that is going to push this up to a quarter of a million very quickly.”

In other trending Bitcoin News today:

MicroStrategy Prepares To Purchase $1,030,000,000 in Bitcoin After Completing Debt Offering

Business intelligence firm MicroStrategy is gearing up to make an additional purchase of $1.03 billion worth of Bitcoin.

In a new post on the company’s website, the publicly-traded firm announces that is wrapping up its offering of convertible notes in an effort to acquire more funds to buy Bitcoin.

The offering, which closed on February 19th, allows qualified institutional investors to purchase unsecured notes from MicroStrategy which have a maturity date of February 15th, 2027.

MicroStrategy reports earning approximately $1.03 billion from the sale of its notes and plans to use the entirety of those funds to purchase more Bitcoin.

“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy.

MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin.”

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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:

“They say #Bitcoin is the ‘Big Bang’ of money b/c you can only do it once. That’s one of the attributes of it. There’s no imitators to ever come along. You can only create absolute scarcity once, you can only create the multiverse once with the Big Bang.”-@MaxKeiser 🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 21, 2021

If I were to actually buy some #Bitcoin, how would I know when to sell? If your answer is to never sell, then what is the point of buying in the first place?

— Peter Schiff (@PeterSchiff) February 21, 2021

https://cointelegraph.com/news/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week

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ChainLink (LINK) is having an ‘Altcoin Season’ of its own – all over again.

LINK has been known to move against the trend, staging a similar rally in the second quarter.

The Chainlink crypto has now grown more than 49% in a single week, touching $2.97 last night, with predictions of easily reaching $3.

LINK has managed to grow to and all time high of $4.54, and may repeat this record. The ChainLink price is also growing against Bitcoin (BTC), already breaking its own record to above 34,000 Satoshi.

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 Today’s Show:

5 Reasons Why ChainLink (LINK) Is Leading the Market Today

https://www.tradingview.com/chart/BTCUSD/Z1vb3kth-Bitcoin-Bullish-Signals-On-The-Daily-TimeFrame-11-111-Next/

I have had the 7.2-7.4k region as my bottom target for some time now, but if it is lost I think we test the mid 6k region and then we get our mega bounce to 14k+. Will be buying more spot all the way down and likely opening some low-leveraged longs in the mid 6k’s. $BTC pic.twitter.com/XfHdPdCRea

— Credible Crypto (@CredibleCrypto) October 9, 2019

$BTC – As you can see from the blue lines and volume profile Bitcoin price managed to break and close above the highest volume areas in this rangeThis will now typically act as support

$8,380s could act as resistance but price can run up to $8500s with a break above there pic.twitter.com/06PaiqdjTa

— Josh Rager 📈 (@Josh_Rager) October 8, 2019