âĄïž Tap into OPM (Other Peopleâs Money): http://opm.cryptonewsalerts.net
A cryptocurrency trader who accurately predicted last yearâs Bitcoin crash has updated his BTC price roadmap.
The pseudonymous crypto strategist known as âDave the Waveâ says Bitcoin has already resolved the large symmetrical triangle that has kept the market bearish for over two years.
He now expects the Bitcoin price to launch a vertical ascent to $24,000 in the coming months.
Based on Daveâs chart, Bitcoin will likely continue trading inside another triangle until the second quarter of 2021.
The breakout from this pattern could ignite a manic phase that would catapult BTC to $115,000.
He also says one altcoin that was hammered during the brutal bear market has massive upside potential.
Dave the Wave tells his 34,000 Twitter followers that South Korean blockchain interoperability protocol ICON (ICX) may be gearing up for a parabolic breakout after languishing in bear territory for over two years.
During that period, ICX wiped out 99% of its value as the coin nosedived from its all-time high of $12.64 to a bear market low of $0.106937, according to CoinMarketCap.
According to Dave, the huge devaluation puts ICX in a position to surge to $102.56 and post astronomical gains of 22,947% in the next bull cycle.
In other trending Bitcoin News today:
MicroStrategy Purchases $250,000,000 in Bitcoin, Says Top Crypto Can Maximize Long-Term Value for Shareholders
MicroStrategy has adopted Bitcoin (BTC) as its reserve currency â and stunned commentators by purchasing over 21,000 BTC on Aug. 11.
The worldâs largest publicly-traded business intelligence company has swapped fiat for Bitcoin as its treasury reserve asset, but the reasons behind it suggest that more big businesses will have no choice but to do the same.
Why did MicroStrategy choose Bitcoin, and will others follow?
In a press release issued on Aug. 11, CEO Michael Saylor went further than most by calling Bitcoin âdigital gold.â With no âifsâ or âbuts,â Saylor unreservedly plugged the largest cryptocurrency over both fiat and other traditional safe-haven assets such as gold.
âBitcoin is digital gold â harder, stronger, faster, and smarter than any money that has preceded it,â he commented.Â
That angle closely mimics some of Bitcoinâs foremost proponents, notably Saifedean Ammous, who in his book, âThe Bitcoin Standard,â repeatedly explains that so-called âdigital scarcityâ puts Bitcoin in a separate league to any other form of money which has ever existed.
Like Ammous, Saylor also believes that Bitcoinâs very structure will ensure that its value will only increase with time.
He added:Â âWe expect its value to accrete with advances in technology, expanding adoption, and the network effect that has fueled the rise of so many category killers in the modern era.â
Bitcoiners were particularly excited about MicroStrategy because it unashamedly replaced fiat currency for cryptocurrency.
Its purchase of 21,454 BTC for an aggregate price of $250 million late last month may not only be symbolic (given the total 21M BTC) but it also means that the company controls 0.1% of the total Bitcoin supply â something competitors will find increasingly expensive to replicate.
âMicroStrategy bought 0.1% of the Bitcoin supply. Very few companies will be able to copy this strategy,â What Bitcoin Did podcast host Peter McCormack tweeted in response.
Follow Us:
đ„ Blog/Podcast: http://CryptoNewsYes.com
đ„ Subscribe on YouTube: http://CryptoNewsAlerts.net
đ„ Subscribe on iTunes: http://itunes.cryptonewsalerts.net
đ„ Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
đ„ Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
đ„ Follow on Twitter: https://twitter.com/CryptoNewsYes
đ„ Join our Private Crypto FB group: âș http://fb.cryptonewsalerts.net
đ„ Join our Private Crypto Telegram group: âș http://telegram.cryptonewsalerts.net
đ„ Binance â Buy, Sell or Trade Over 400 Altcoins: âș http://binance.cryptonewsalerts.net
đ„ [IMPORTANT] â Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș 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:
https://cointelegraph.com/news/3-reasons-why-microstrategy-adopted-bitcoin-and-why-others-will-too
Post Views: 192
