BITCOIN IS GEARING UP FOR $260K CYCLE PEAK IN DECEMBER!! PLAN B CLARIFIES NOVEMBER BTC PREDICTION!!

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Real Vision CEO and Bitcoin bull Raoul Pal says that a massive wall of institutional money is inevitably going to push the BTC price to $300,000 in a year and a half.

In an interview on Kitco News, Pal says that institutional investors are waiting in the wings to get access to Bitcoin, which is now a “globally recognized brand,” and a “ridiculously well-performing asset.”

“Yesterday alone, I was speaking to the founder of one of the largest investment firms in America. Investment advisors alone have $5 trillion in assets, and he’s trying to get all of his advisors and advise all the others as soon as the ETF is launched to get up to 1% of assets. I mean, that’s $500 billion from the investment advisors alone.”

“We’ve all seen these phases. These things where ‘We’re not going to use this, this is rubbish, why do we need this? I’ve got a fax machine, why do I need email?’ Suddenly, ‘What’s a fax machine?’ Look at all these dot coms, at their mania. Next minute, it’s normal. It’s part of life and Amazon’s a trillion-dollar company.

The world goes through these phases and the more conservative people, the less risk-takers, tend to be later to the party. So I think the banks are late here because they’re going to get disrupted somewhat.”

According to Pal, every single indicator and metric he uses for forecasting Bitcoin points to a mega-bullish rally in the next year or so.

“I use a number of measures. I use technical analysis, logarithmic charts. I use the stock-to-flow ratio… I use a whole number of different yardsticks… They all basically come to the same thing. 

They basically come to: We’re going to be somewhere between $500,000 and a million dollars within five years, and we should be somewhere between $100,000 and $300,000 in the next 12 to 18 months.”

In other trending Bitcoin News today:

MicroStrategy Will Issue $400 Million In Securities To Buy More Bitcoin

The world’s largest publicly traded business intelligence firm, MicroStrategy has announced plans to invest the proceeds from a $400 million securities offering into Bitcoin.

On Dec. 7, the firm revealed plans to issue $400 million in convertible senior notes — a debt security that can be converted into the issuing company’s shares. The announcement stated:

“Microstrategy intends to invest the net proceeds from the sale of the notes in Bitcoin.”

At current prices, the $400 million would increase the company’s holdings by 20,833, which would bring the firm’s total crypto stash to almost 62,000 BTC.

Microstrategy will pay semi-annual interest to the note-holders until December 2025. The firm also reserves the right to redeem the notes for cash from Dec. 20, 2023.

The announcement states that MicroStrategy may also offer up to an additional $60 million worth of notes to its initial purchasers within 13 days of commencing the offering.

The securities will be issued under Rule 144 of the Securities Act, and will be available to qualified institutional investors only.

MicroStrategy made waves in the crypto world during August, when the firm revealed it had adopted Bitcoin as its primary reserve asset after purchasing 21,454 BTC for $250 million. It then purchased a further 16,796 BTC for $175 million the following month. The purchases were made through Coinbase’s OTC and brokerage platform.

Just a few days ago on Dec. 5, MicroStrategy’s CEO, Michael Saylor, announced the firm had purchased a further 2,574 BTC priced at approximately $19,427 each for $50 million, bringing its total crypto holdings up to roughly 40,824 BTC.

At current market value, MicroStrategy’s BTC stash is worth nearly $784 million, meaning the firm is currently up 65% on its $475 million investment.

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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/bitcoin-s-market-cap-will-flip-gold-winklevoss-twins

https://cointelegraph.com/news/microstrategy-will-issue-400-million-in-securities-to-buy-more-bitcoin

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Bitcoin Billionaires, Tyler and Cameron Winklevoss, believe weakness in the U.S. financial system and other factors mean the Bitcoin price could one day reach $500,000 per BTC.

“Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or bitcoin will outrun the scourge. And money stored in bitcoin will run the fastest, overtaking gold,” the brothers said in their latest analysis.

It added that “Bitcoin has already made significant ground on gold — going from whitepaper to over [USD] 200 billion in market capitalization in under a decade.

Today, the market capitalization of above ground gold is conservatively [USD] 9 trillion.”

By applying a gold framework to value bitcoin, the twins say that, should BTC continue on this path, the bull case scenario for the cryptocurrency could be that it is currently undervalued by a factor of 45. According to the analysis:

“Said differently, the price of bitcoin could appreciate 45x from where it is today, which means we could see a price of [USD] 500,000 … per bitcoin.”

Furthermore, the forecast says it does not factor in the possibility of BTC displacing a share of the USD 11.7 trillion dollars of fiat foreign exchange reserves that are currently held by governments worldwide.

“Foreshadowing this, at least one publicly-traded US corporation has begun holding bitcoin as a treasury reserve asset.

If central banks start to diversify their foreign fiat holdings even partially into bitcoin, say 10%, then 45x gets revised upward towards 55x or [USD] 600,000 per bitcoin, and so forth,” the brothers said.

Winklevoss Capital has bought shares in a number of companies from the blockchain industry, including digital wealth management solution BlockFi, and micropayment infrastructure provider ChangeCoin.

The home office also invests in cryptocurrencies, including BTC and Zcash (ZEC), according to data from the firm.

In other trending Bitcoin News today:

3 reasons why Yearn.finance YFI price just hit a new high of $18K!

YFI, the native token of the Decentralized Finance (DeFi) giant yearn.finance, achieved a new all-time high. It soared by 30% in the last 12 hours from $14,017 to $18,169, entering price discovery.

The term price discovery refers to when an asset hits a new record high and markets seek a new peak. YFI entered price discovery for the first time in 8 days, after achieving its previous peak at $16,666.

Three factors likely triggered the rally of YFI to a new all-time high: a potentially new partnership, a listing on Aave, and strong technicals.

On Aug. 28, the money market protocol Aave (LEND) listed YFI. Aave is the largest DeFi protocol in the global market with more than $1.52 billion in total value locked.

As Cointelegraph previously reported, Aave received approval from the U.K. Financial Conduct Authority, which further secured the dominance of Aave over the DeFi market. Jordan Lazaro Gustave, the COO of Aave, told Cointelegraph:

“Aave will also be making credit delegation possible, where party A can delegate their credit line to party B, who can borrow against it. This will all be made possible by a legal agreement via OpenLaw. For example, a credit delegator could be a party that wants to build up more credit, and a borrower could be a business, NGO, government, institution, etc.”

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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:

Prepare to be patient in #Bitcoin. Each up cycle takes longer to play out and is less extreme as absolute dollar value gets much larger.May or may not be another 6-12 months before price breaks up. Should not matter as end price point obscenely higher.

Hodlers rejoice. pic.twitter.com/IH7izyxXvm

— Dan Tapiero (@DTAPCAP) August 28, 2020

Friday Fun: modeling #bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M💥💥💥 pic.twitter.com/WPS8Ft9B2r

— PlanB (@100trillionUSD) August 28, 2020

The Case for $500K Bitcoin

https://cointelegraph.com/news/traders-say-bitcoin-now-faces-2-main-scenarios-16k-or-96k-heres-why

https://cointelegraph.com/news/3-reasons-why-yearnfinance-yfi-price-just-hit-a-new-high-of-18k

➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net

Introducing his latest revamp of the popular Bitcoin price model, analyst PlanB adds gold and silver and almost trebles his previous forecast.

The latest version of a popular and thus far accurate BTC price model predicts an average price of $288,000 — and it could happen this year.

In a blog post introducing the third incarnation of the stock-to-flow (S2F) model on April 27, analyst PlanB revealed fresh calculations that are taking his forecast ever higher.

This time, gold and silver joined in, combining with Bitcoin to create the new BTC S2F cross-asset model or S2FX. Stock-to-flow calculates a value based on the supply of new Bitcoins entering circulation through mining versus the existing supply, or “stock.”

The retroactive application confirms that the model is extremely competent at charting Bitcoin’s growth, with even last month’s 60% drop still falling within its predicted range.

Prior to S2FX, an “updated” stock-to-flow chart put BTC/USD at an average of around $100,000 between 2020 and 2024.

With the release of the new version, however, the prediction has almost tripled overnight.

“The S2FX model formula can be used to estimate the market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020–2024),” PlanB summarized.

“…This translates into a BTC price (given 19M BTC in 2020–2024) of $288K.”

In other trending Bitcoin News today:

Tim Draper Doubles Down on His $250K BTC Prediction

If Bitcoin does not hit $250,000 by early 2023, Tim Draper jokingly says he’ll eat a raw egg.

Speaking at Virtual Blockchain Week, famed venture capitalist Tim Draper confirmed that he is sticking to his six-figure Bitcoin (BTC) price prediction.

Back in 2018, Tim Draper made a bold public call that the price of Bitcoin would reach $250,000 by the end of 2022 or early 2023.

As of today, he’s sticking to it:

“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”

He cites a couple major reasons that might drive that kind of price action.

Draper believes that the US government’s massive stimulus package will debase the value of the dollar and “send people to crypto.”

He also expects that Bitcoin will see massive commercial adoption around the world within this timeframe.

“All of the sudden, the retailers say, “Oh, you mean I don’t have to pay 2.5-4 percent to the banks every time somebody swipes a credit card?”

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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:

I think PlanB made a step in the right direction my including more assets in his model. Solid work. As soon as S2FX is confirmed for a wide range of assets like Pt, W, $BSV and $BCC, it will have my enthusiastic support. Highly scientific! https://t.co/OTCcdrsVkd

— ᴹᵁᴴ𝔍𝔬𝔢⁰⁰⁷ 🐳 (@J0E007) April 28, 2020

https://cointelegraph.com/news/tim-draper-doubles-down-on-his-250k-btc-prediction

https://cointelegraph.com/news/new-stock-to-flow-forecast-puts-average-bitcoin-price-at-288k-by-2024

https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12