Bitcoin Facing One of the Best Setups in History With $1,000,000 Target | BTC Halving 2020 News

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Bitcoin $1M Target

➡️ REPLAY – TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net

Raoul Pal of Global Macro Investor is breaking down the potential paths ahead for Bitcoin as the BTC halving approaches.

He says Bitcoin is currently in one of the best positions of any asset he’s ever seen, trading inside a “perfect wedge” that he believes is a precursor to a massive new bull run.

Pal’s first depiction of the wedge using traditional charting techniques has the Bitcoin price targeting $40,000.

But when switching to a log price scale to get a long-term perspective, Pal says the BTC price is on a trajectory to $1 million.

Using linear regression channels, which highlight the upper, lower and middle portions of a trend or price move, Pal says BTC displays a move to $400,000 to $1 million.

He says his analysis aligns with Bitcoin predictions from the anonymous strategist PlanB. “Whatever plays out, after a key technical break like today, the probability of vastly higher prices has risen dramatically. And this is confirmed by the stock to flow models by PlanB and the breakout has happened almost exactly at the halvening.”

Pal also points to a rapid increase in money printing and struggling currencies in places like Venezuela and Argentina as a sign of what’s to come.

“Add to that the entire world’s central banks are either seeing their currencies collapse to the almighty dollar (BRL, TRY, ARG, etc) or they are printing money like crazy. Huge quantitative easing fiat meets the hardest money that automatically quantitatively tightens. BTC wins.

This is the one of the best setups in any asset class I’ve ever witnessed… technical, fundamental, flow of funds and plumbing. All. Now. Again, to be clear, even if it has 90% odds, doesn’t mean its definitely going to work…I can and will be wrong…often and dramatically.”

Pal says he recently allocated 25% of his liquid net cash to Bitcoin, along with 25% to gold.

He’s reserving another 25% for trading opportunities and plans to keep the last 25% in cash.

In other trending Bitcoin News today:

THESE 4 TRENDS SUGGEST BITCOIN WILL ROCKET HIGHER TOWARDS $15,000: FUNDSTRAT

Since the $3,700 lows, Bitcoin has roared higher, crossing above resistance after resistance in succession. 

Just recently, BTC tapped $10,000.

Although impressive, top analyst Tom Lee expects for the cryptocurrency to head even higher, citing three “solid” tailwinds for this market.

“There’s a confluence of four fundamental factors that indicate Bitcoin’s medium-term to long-term trend is shaping positive, analyst Thomas Lee has said. The co-founder of Fundstrat Global Advisors, a New York-based research firm, identified them as follows:

1 – Bitcoin is the best-performing “asset class” in 2020, beating U.S. Treasuries and Gold amid a global recession. Treasuries are up 21% while the precious metal is up 13% — already much better performances than the S&P 500’s 10% drop, the 5% drop in emerging market corporate bonds, and the 20% drop in the Russell 2000 index.

2 – In a similar vein, BTC was the best-performing asset class of 2019, rallying 92% while the U.S. stock market gained around 20%.

3 – The block reward reduction, known as a “halving,” is taking place in four days, estimates suggest.

4 – Paul Tudor Jones, one of the world’s biggest macro investors, just announced his fund is taking a stake in Bitcoin futures. Jones believes the cryptocurrency will act as a hedge against inflation.”

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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://bitcoinblockhalf.com/

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