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Deviation from the stock-to-flow average has always resulted in a reversal to new all-time highs, data shows. Both 2013 and 2017 ultimately saw a two-tier run to an all-time high. The first peak was followed by a significant drawdown in each instance, which then reversed to spawn a run to a new top. PlanB still believes that $100,000 per Bitcoin will appear this year, while stock-to-flow calls for either a $100,000 or $288,000 average price between now and 2024.
In other trending Bitcoin News today: Billionaire venture capitalist Tim Draper thinks the ultimate impact of cryptocurrency will stretch far beyond the world of finance. The Draper Associates founder tells high-profile crypto trader Scott Melker that while there may be “fits and starts,” he thinks BTC’s price will continue to rise as Bitcoin radically changes those various elements of society.
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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://cointelegraph.com/news/texas-regulator-allows-state-chartered-banks-to-hold-bitcoin
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Bitcoin Halvings Kick BTC Price Up, History Says, 0K May Be Expected This Time
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http://trade.cryptonewsalerts.netHistorical data shows that after each Bitcoin halving the BTC price went up substantially, and this time it may be expected to hit $100,000.
In May next year, the third BTC halvening is to take place with miners’ rewards for each new block to be reduced in half.
This means that twice as fewer Bitcoins will be issued, making Bitcoin (BTC) a more scarce digital asset than previously.
All eyes on 2020 – $100,000 after the halving?
A crypto enthusiast ‘Crypto Einstein’ (@BitcoinEinstein) with nearly 40,000 followers on Twitter has posted a chart, showing the rise of the Bitcoin price after each halving (happening every four years).
After the upcoming halving, some believe that the Bitcoin price of father crypto may fall since a lot of miners may give up their business and quit.
However, there are many who are positive that the BTC price will surge due to the halvening, the growth of the US debt and more QE programs to come in the future.
As per the chart shared, this time, the Bitcoin price may be expected to hit an all-time high of $100,000.
The chart states that the fourth and the last halving will take Bitcoin as high as $300,000.
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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 COULD MAKE A UPWARD MOVE ABOVE 9800 & 10K, BEFORE HALVING. NOV-DEC ARE IMPORTANT MONTHS, DON’T MISS ANY DIP THIS MONTH. 13-14K ON CARDS BEFORE HALVING. pic.twitter.com/ofe8hTkX4l
— 💎Zια υʅ Hαϙυҽ ╚»Cɾყρƚσ Aɳαʅყʂƚ & Tɾαԃҽɾ🎯«╝ (@open4profit) November 11, 2019
#BitcoinWeekly looks bearishLogically one more slight lower low is psychological pain to a lot of people. Plenty of “break even” and “just below last wick” stop losses to hit
I expect slow bleed. Lots of dip buying and being stopped out. Then a fast dip with rapid absorption pic.twitter.com/2IyJmwMj0T
— NebraskanGooner📈 (@nebraskangooner) November 30, 2019
#bitcoinThe all knowing fractal says the top is likely in for now.Trend line breakdown retest looks completed.$6,300 incoming?
Will be interesting to see if this continues to play out. pic.twitter.com/Bs1xQHZdoV
— NebraskanGooner📈 (@nebraskangooner) November 29, 2019
Despite 15% Bounce, Bitcoin Price Still Bearish on Weekly: Analyst
https://u.today/bitcoin-halvings-kick-btc-price-up-history-says-100000-may-be-expected-this-time
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Momentum Shift Will Drive Bitcoin to K in Six Months or Less! | BTC Is the ‘New’ Apple
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Bitcoin (BTC) is on track to break its all-time high and hit $50,000 in a matter of months, according to Nexo co-founder and managing partner Antoni Trenchev.
In a new interview during the virtual Block Down conference, Trenchev said his crypto lending platform is witnessing double-digit percentage growth rates month-on-month, with a wide range of both institutional and retail investors jumping in.
He believes a significant increase in institutional participation in the crypto markets will power a new bull run.
“We have clients from every corner of the world, every age group. We have from young adults, all the way to boomers who for some reason have chosen to put assets in digital form and to conduct business with us. So the demographic, it’s really, really diverse and we cover it all.
Right now we’re seeing a great influx in both the retail part and the institutional side of things because for institutions, crypto got a huge endorsement by Paul Tudor Jones. When you have the guy who put the word hedge in hedge funds endorse Bitcoin, and say they have an allocation of a few percent of their total assets on their management in Bitcoin, that gives them the additional boost of traditional institutions to come into the space.
So we have quite heavily been onboarding with institutions that up to very recently would not have to articulate their liking of Bitcoin. And now with this endorsement of Paul Tudor Jones, the timeline has shifted gears and it’s expanding very rapidly.”
Trenchev says Bitcoin’s monetary supply stands in stark contrast to the level of money printing from governments, which he believes will benefit both gold and BTC.
“I think that there’s just no case that this isn’t good for both gold, but more importantly Bitcoin. So yes, I’m sticking to my prediction of 50k until the end of the year. I appreciate that it is a bold statement, but the fundamentals are there and the momentum is shifting there as well.”
In other trending Bitcoin News today:
Will Bitcoin Hit $288,000 by December of 2021? New Poll Reveals Crypto Trader Sentiment on BTC
A new survey launched by PlanB, the crypto analyst known as the first apply the stock-to-flow (S2F) ratio to Bitcoin, reveals where members of the crypto community believe BTC is heading.
The results of the survey suggest crypto traders are a bit skeptical of PlanB’s S2F model, which predicts Bitcoin surging as high as $288,000 in the next bull cycle.
More than 60% of the respondents do not see BTC touching any of the price points predicted by the three S2F models within the next two years. Over 40% say they believe Bitcoin will not hit $55,000 before 2021 expires.
The survey indicates that at the current price of $9,118.92, nearly half of crypto Twitter sees a maximum upside of 450% for BTC in the next bull cycle.
That figure is a far cry from the gains of the 2013 bull market which witnessed BTC surge from $2.22 in 2011 to $1,163 in 2013 – a 52,287% rally, and the bull rally that propelled the king coin from $152.40 in 2015 to an all-time high of $19,666 in December 2017 – a 12,000% surge.
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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:
Do you think #bitcoin will reach $288K (S2FX), $100K (S2Fv2), $55K (S2Fv1) before December 2021, or will BTC stay below $55K?
— PlanB 🔴 (@100trillionUSD) July 3, 2020
https://cointelegraph.com/news/bitcoin-is-the-new-apple-how-btc-price-could-reach-60-000-by-2023
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BLOOMBERG: BITCOIN PRICE ACTION REMINISCENT OF 2015 BEFORE HISTORIC 100X BTC BULL CYCLE BEGAN!!
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Bitcoin may be breaking free from its correlation with the stock market and gearing up for a parabolic 2021, according to a new Crypto report from Bloomberg.
The financial news outlet’s latest monthly outlook on crypto calls BTC a “caged bull” that could be on the cusp of a massive long-term breakout.
“Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration for the firstborn crypto and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. constrained supply.
Favorable macroeconomics, akin to those buoying gold, supports the digital store-of-value, notably vs. the oversupplied broader crypto market…
Bitcoin may be in early days of ending its constraining relationship with the Nasdaq 100 Stock Index, in our view.
Technically, the Bitcoin-to-Nasdaq ratio near 1.2 on Oct. 27 has extended above 1.1 resistance that has held for about a year.”
According to the report, Bitcoin’s resistance at $10,000 may morph into resistance at $20,000 next year.
The report cites Bitcoin’s dwindling supply and ultimate cap of 21 million coins as a key driver placing the leading cryptocurrency on a positive trajectory.
It also names steady BTC buys from the institutional crypto asset manager Grayscale as a factor supporting Bitcoin’s price.
Bloomberg analyst Mike McGlone says Bitcoin’s 2020 price action is also reminiscent of 2015, ahead of a bull cycle that ultimately saw BTC rise by 100x.
“2020 Bitcoin may be 2015 launchpad deja-vu. Some key technical indicators portend a strong up-year for Bitcoin in 2021. In 2020, the benchmark crypto dipped below its 50- month moving average and 180-day volatility dropped below 40% at the start of November.
This price foundation pair was last matched in 2015 as Bitcoin bottomed near $200; it peaked about 100x higher in 2017. We see Bitcoin volatility declining with natural maturation and little chance of similar high-velocity appreciation, but the indication is clear: Unless something significant trips it up, the crypto’s price is ripe to advance in the coming years.”
In other trending Bitcoin News today:
“3 Primary Reasons Why Ethereum (ETH) Could Hit $500 in Q4”
A confluence of bullish fundamental and technical indicators sees Ethereum rallying upward towards $500 in the fourth quarter.
The second-largest blockchain asset by market capitalization has rallied by more than 200 percent in 2020, with its price trading just shy of $490 in early September.
Nevertheless, its uptrend paused as traders migrated to Bitcoin, the flagship cryptocurrency that earlier gained entry into the investment/service portfolios of significant corporations (Square, MicroStrategy, PayPal, etc).
#1 ETH/BTC Support
A slowdown in Ethereum’s dollar-based uptrend finds headwinds in the ETH/BTC chart.
The pair, which pits Ethereum directly against Bitcoin, is trading lower since August 31.
As of Thursday, it was down by more than 32 percent from its YTD high of 0.0406 sats.
#2 Ethereum Ascending Triangle
Ethereum’s correction from its YTD high followed by a subsequent pullback to the upside left its price in a consolidation channel.
That range, with a fixed horizontal resistance line and a trail of higher lows, made an Ascending Triangle pattern.
#3 Fundamentals
The reason why Ethereum could perform per its bullish technical expectations is a solid fundamental catalyst.
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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:
#Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply pic.twitter.com/w742J7bXfC
— Mike McGlone (@mikemcglone11) November 4, 2020
https://assets.bbhub.io/promo/sites/12/917428_Crypto-Nov2020Outlook.pdf?link=button-header
https://cointelegraph.com/news/bitcoin-hits-14-7k-3-reasons-this-rally-may-see-new-all-time-highs
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