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

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Popular crypto analyst and trader Kevin Svenson is saying that Bitcoin is due for a steep rally to the six-figure level as BTC follows a widely-known pattern in the equities market.

“George Lindsay says the basement is essentially a bear trap… So it would actually be a good bear trap if we did actually continue with a move up to the first floor and that would mean over the next month or two, we would expect a move back up toward the $50,000 to $60,000 to form our first floor. And this could potentially lead us to into a final mania phase all the way up to the $200,000 level.”

In other trending Bitcoin News today: Adoption And Scarcity To Fuel A Bitcoin Run To $100K!

Despite having fallen by nearly 30% since its November all-time high, Bitcoin is in a consolidating bull market and on its way to $100,000, according to a Bloomberg Intelligence report. The paper said it is unlikely that BTC’s bull run has come to a halt and predicts the fixed supply to sustain increasing prices.

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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:

Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin

https://bitcoinmagazine.com/business/bitcoin-to-hit-100000-in-2022-bloomberg-report

https://cointelegraph.com/news/bitcoin-price-dip-may-end-wednesday-as-bitfinex-bids-hint-at-fed-buy-the-news-plans

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Bitcoin can pass its $20,000 all-time highs within weeks, says Alex Saunders, while Ethereum only needs a year to beat its own record.

BTC can hit $100,000 in five years and $1 million by 2035, Nugget’s News CEO Alex Saunders has told Cointelegraph.

Speaking in an interview with Cointelegraph Markets analyst Michaël van de Poppe on Nov. 18, Saunders described current conditions as a “perfect backdrop” for new highs.

“It’s either going to keep going like right now in the next few weeks and get to $20,000 very quickly, or it’s going to have its bit of a range now and then hopefully positive into next year,” he said.

Saunders was speaking as BTC/USD came off recent highs of $18,400 to move in a wide corridor, which has become focused on $17,700. Gains have been swift, with weekly performance alone delivering up to 15% returns.

Looking ahead, Saunders believed that six or seven figures for Bitcoin lay some way off, but that a combination of money and adoption meant that there was now “no way out.”

“I honestly think that Bitcoin will hit $100,000 in the next five years, and then it’s going to become about, ‘Well do they actually try and shut it down, or how do they regulate it and trade it?’” he told Van de Poppe.

“And if it’s allowed to just continue on its mission and absorb all the money from around the world and become a global reserve currency… I think we can get to $1 million per coin in the next, whatever that is, 15 years.”

The estimates appear somewhat conservative by comparison to some extant price forecasts, among them, the popular stock-to-flow based series, which predicts at least $100,000 by next year.

Saunders’ concerns about legality in the event of major price rises echo those of major investor Ray Dalio, whose comments on Bitcoin earned him significant publicity this week.

In terms of the largest altcoin Ether (ETH), meanwhile, the prognosis is even better. Saunders considers there to be a strong possibility that new all-time highs for ETH/USD are a year away — or less.

Given current performance, that would require nearly 200% of upside from press-time levels of $470.

Ether, like most altcoins, has failed to copy Bitcoin’s recent advances, despite the rollout of the long-awaited Ethereum 2.0 and associated roadmap, which will transform the network.

Van de Poppe nonetheless agrees that the future is likely bright for Ether, with the next bull run halting only at an order of magnitude above the peak of the previous one.

“Next cycle ATH for ETH probably between $10,000–20,000,” he told Twitter followers on Wednesday.

In other trending Bitcoin News today:

Bitcoin Price Dives Back Under $16,900 As Whale Deposits Spike Again

The BTC price dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase.

Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections.

After the price of Bitcoin briefly dropped to $16,200 on Nov. 27, it started to show some signs of recovery. It remained above the $17,000 level for over 11 hours before another leg down.

Following the sharp drop of Bitcoin, a low volatility price range was expected. The earlier drop on Nov. 26 to $16,200 decimated exchange order books, particularly in the futures market. 

Hundreds of millions of dollars worth of futures contracts were liquidated within several hours, as Cointelegraph Markets reported.

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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:

Next cycle ATH for $ETH probably between $10,000-20,000.

— Michaël van de Poppe (@CryptoMichNL) November 18, 2020

My best guess at this point:1. Attached tweet playing out2. Give this dump another week or so to consume liquidity below

3. Sharp rally to ATH for remainder of the year https://t.co/M9UFcTdcDZ

— //Fiat 𝕵ack 🐐 (@BTC_JackSparrow) November 26, 2020

https://cointelegraph.com/news/bitcoin-analyst-sees-perfect-backdrop-for-100k-this-bull-cycle-1m-by-2035

https://theunionjournal.com/bitcoin-will-get-rid-of-all-empires-including-the-american-one-max-keiser-rt-business-news/

https://cointelegraph.com/news/bitcoin-price-dives-back-under-16-900-as-whale-deposits-spike-again

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With the recent Bitcoin price surge from the lower $14,000’s to almost touching $16K in the past 24 hours, BTC pioneer Max Keiser, host of the Keiser Report went on an epic tweet storm sharing the following on Twitter:

“Order book shows no Bitcoin for sale up to $20,000. Any offers between $20-28,000 will get pulled. I’m looking at a possible pause at $28,000.”

“Bitcoin won’t pause until $28,000. Will update my forecast when it gets there, but I don’t see any pullbacks until $28,000”

“$16,000 is no resistance. None at $17,000 either. Virtually no resistance at all. Bitcoin has no top because fiat has no bottom.”

SCAM ALERT: “CoinSwitch Exchange Scammed Me Of $50,000 In Crypto”

I went to exchange some crypto as they advertise through their platform using Binance.

Then my transaction failed according to their support due to a technical error on their end.

Then they exploited KYC to withhold my funds.

However, even after complying and sending in all requested information, I’m still getting the run around, going back and forth with their support and they’re still withholding my funds.

I’m shocked that Cointelegraph influencers such as Keith Wareing promote this crypto exchange scam.

In other trending Bitcoin News Today:

“Fed Calling For More Stimulus Is ‘Code for Buy Bitcoin,’ says Winklevoss”

The United States Federal Reserve is still unintentionally advertising Bitcoin, as Chair Jerome Powell argues for more money printing.

In a tweet on Nov. 6, Tyler Winklevoss, co-founder of crypto exchange Gemini, said that Powell’s latest speech this week was “code for buy Bitcoin.”

Powell was addressing a news conference, which followed the Fed’s Nov. 5 meeting on the state of the economy and future measures.

As before, he reiterated that the central bank had not exhausted its range of tools for supporting the economy.

These have so far included heavy interventions in stock markets, financial stimulus measures and direct payments to Americans.

“I just would say that I think we’ll have a stronger recovery if we can just get some more fiscal support, when it’s appropriate… the size Congress thinks is appropriate,” he said, quoted by Reuters.

Bitcoin proponents have long warned about the long-term impact of short-term meddling in the economy by central banks that is represented by the huge increase in public debt seen in the U.S. and elsewhere in 2020.

The Fed’s balance sheet stood at $7.14 trillion on Friday, near record highs. U.S. national debt has topped $27.2 trillion, a figure never before seen in history.

In what some this week described as a clear demonstration of simple supply and demand at work, Bitcoin — with its fixed supply — continued climbing as Powell delivered his speech.

The largest cryptocurrency has gained over 15% since the start of the week, rising to levels not seen since the end of 2017.

According to quant analyst PlanB and others, this is to be expected, as six months after its block subsidy halving cut the supply of new Bitcoins in half, investors have bought up the slack.

These have included existing corporate buyers who have upped their requirements, among them payment gateway Square, which saw 80% of its Q3 revenue come from Bitcoin.

“There is virtually no BTC left for sale,” the popular Twitter account Girevik summarized, noting large buyer support on exchanges at levels below $13,000. Sellers have yet to impact the market, even at close to $16,000.

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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:

SCAM ALERT: @coinswitch scammed me of $50,000, exploiting KYC to withhold customer funds. Even after complying and sending all required documentation. I’m shocked @Cointelegraph influencers like @officiallykeith promote this exchange scam. Video coming soon with full details.

— Crypto News Alerts (@CryptoNewsYes) November 6, 2020

Millions of us opted out of this political nightmare years ago with #Bitcoin Take as long as you want to sort this out We don’t give AF In fact, the longer it takes the mega-richer we get Take your time, hombre

🍊💊👍 https://t.co/idIXV1xUPL

— Max Keiser (@maxkeiser) November 5, 2020

Top Bitcoin Expert Claims “The Train Has Left The Station” With $14K Broken

https://cointelegraph.com/news/fed-calling-for-more-stimulus-is-code-for-buy-bitcoin-says-winklevoss