BITCOIN EYES DROP TO $35K AS BTC PRICE PAINTS ‘DEATH CROSS’!! CRYPTO FEAR HITS 5 MONTH LOW!!

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Few have called the Bitcoin price action as well as Dave the Wave has over the past few months; in the middle of last year, the analyst predicted a retracement to $6,400 when the BTC price was rallying above $10,000, and more recently, he called for a retracement from $11,000 to $8,500.

Now, he’s starting to lean bullish once again.

In an analyst published Sunday, the trader suggested that Bitcoin (BTC) is in the midst of “turbulence before take-off,” pointing to a chart that shows the current price action in the crypto market is reminiscent to that of late-2016, just months before Bitcoin began its rally from $800 to $20,000 in a year’s time.

Where Will the Rally Take Bitcoin? Although Dave the Wave did not mention his long-term targets in that tweet, he has suggested previously that the cryptocurrency could be on the verge of a 1,000% rally.

The analyst suggested that the cryptocurrency is still on a clear trajectory to enter a six-digit price point in the coming two to three years.

Dave backed this prediction by pointing out that Bitcoin is on the verge of finishing a fractal correction and is about to break past of a long-term descending trendline, which marked the two swing tops over the past two years.

A move past the trendline, which will soon line up with the long-term buying zone for Bitcoin, is likely to kick off a rally to $100,000, the trader suggested.

This lofty prediction can be backed up by the famous stock-to-flow model from PlanB, a pseudonymous quantitative analyst working for a European institution.

The model equates Bitcoin’s scarcity (inflation rate) to its market capitalization, suggesting the after the May 2020 block reward halving, BTC will have a fair price of around $55,000 to $100,000. 

BITCOIN STILL ON TRACK FOR MASSIVE GAINS AFTER HALVING

Bitcoin has spent the weekend consolidating in the mid-$8k zone following a week of sharp declines through several levels of support.

The stock to flow model is still holding course though which means big gains could be ahead after the halving. Bitcoin has corrected around 20% from its 2020 peak to yesterday’s low of just over $8,400.

It has held in the mid-$8k range for a couple of days low leading analysts to believe that the bottom could be in.

With just 70 days to go to the halving, analyst ‘PlanB’ has revisited his stock to flow model noting that things are right on track with it.

The stock to flow (S2F) model examines the relationship between the production of supply and the current stock available.

Using this model, the analyst has predicted a rise to around $80-$100k in the months following the halving.

Previous events in 2012 and 2016 saw huge rallies in the years that followed and many are expecting that 2021 could be even bigger for Bitcoin than this year.

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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:

Very long term i can see how fancy math can explain price. But fancy math can never explain short term price movement imo. So monthly predicitions really ?

— Liam Janssens (@LiamJanssens) March 1, 2020

$BTC Hash Ribbons ain’t looking so good as halving is approaching.Mining cost right now at~ $7700.Bitcoin should rally to over $15000 in the before Halving if Miners wants to feed their family.

Pump it for the Miners and their family. pic.twitter.com/3ohIlbqfmX

— Anondran (@AnondranCrypto) February 29, 2020

You don’t think Coronavirus will affect this?

— ₿rucewayne (@HouseSt12782619) March 1, 2020

For those getting stuck or confused on the shorter term call, here’s my view going forward. If you’re a holder/ investor, ignore the short term calls and focus on the medium/ long term.

Main point being, a consolidation to the buy zone would set BTC up nicely for its run. pic.twitter.com/AC2gv5VrGI

— dave the wave (@davthewave) February 16, 2020

Bitcoin Still on Track For Massive Gains After Halving

https://cointelegraph.com/news/bitcoin-price-avoids-82k-to-mirror-stock-to-flow-creators-forecast

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Will the Bitcoin price ‘Moon’ if there is a war with Iran?

Iran-based sellers on peer-to-peer trading platform LocalBitcoins are currently asking for around 1 billion Iranian rials or over $24,000 per Bitcoin (BTC), based on the official exchange rate from the country’s central bank. 

Founder of crypto analytics outlet Messari, Ryan Selkis wrote:

“Bitcoin is trading at nearly $24,000 in the USD equivalent of Iranian Rials on LocalBitcoins today. It’s unlikely those purchases are paying for the Iranian military’s response. Instead, it might be innocent (and desperate) Iranians looking for a way out of the coming chaos.”

While the BTC price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year.

In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019. On Friday morning, Nexo co-founder Antoni Trenchev told Bloomberg’s Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.

“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” said Trenchev.

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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.forbes.com/sites/ktorpey/2020/01/03/why-the-bitcoin-price-could-hit-50000-in-2020/#658439eb2f37

https://www.forbes.com/sites/investor/2020/01/03/bitcoin-war-iran/#5c6cb96f343b

https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate

➡️ OPM Wealth: http://opm.cryptonewsalerts.net

Bitcoin (BTC) investors have already made more on their holdings this quarter than any Q1 since 2014, as data shows a sustained influx of institutional interest.

According to findings from statistics resource Skew Markets, the Bitcoin price gains so far in 2020 amount to just under 30%.

In no other quarter in the past six years did markets perform that strongly. 

By contrast, Q1 tends to be an underwhelming period for the BTC price. 2014 saw 39% losses, while 2015 and 2016 saw BTC/USD drop by 24% and 3% respectivelyOnly 2017 and 2019 managed to produce positive moves, but at around 11%, neither comes close to this year.

2011 and 2013 were the years Q1 returns were strongest, at 165% and 570%, according to Bitinfocharts’ price index.

Crypto markets have been on fire this week and another $10 billion has just been pumped in.

Crypto pundit John McAfee is back bashing Bitcoin as some top altcoins make double digit gains.

Digital warlord John McAfee has been known for his candid commentary on Crypto twitter.

A recent outburst has again taken a swipe at Bitcoin labeling it as a ‘true shitcoin’.

“Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins; Was brilliant. But we all know that the future of Crypto rests with the Alt Coins. Bitcoin – Old, clunky, no security, no smart contracts, no DAPs …. Is the true Shitcoin.” – John McAfee

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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:

Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins;Was brilliant.But we all know that the future of Crypto rests with the Alt Coins.Bitcoin –Old, clunky, no security, no smart contracts, no DAPs ….

Is the true Shitcoin.

— John McAfee (@officialmcafee) January 29, 2020

Open interest on #bitcoin is currently at $943 million. Every time we’ve hit $1 billion we’ve seen a pretty big sell off.

Let’s see if this time will be different.

— Jacob Canfield (@JacobCanfield) January 28, 2020

$BTC

Volume tells all. A true trend is identified when volume is rising. Blue arrows show volume and price in agreement. Red arrows show price action on descending volume. Price going down with volume = consolidation, not a bearish trend. Volume may be rising with price again. pic.twitter.com/w7Crg7MgjA

— The Wolf Of All Streets (@scottmelker) January 27, 2020

Altcoins Surging, But Why is John McAfee Bashing Bitcoin Again?

https://cointelegraph.com/news/bitcoins-best-q1-since-2013-to-escalate-if-95k-is-broken-trader