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Microstrategy CEO Michael Saylor in a new interview with Bitcoin Magazine, predicts BTC will hit $10,000,000 per coin. Bitcoin price hit $57,600 this morning, a new five-month high. In today’s show I share the 5 most important things to watch in BTC market this week. Also in today’s show: El Salvador to build $4M veterinary hospital using profits from Bitcoin trust. Salvadoran President Nayib Bukele has announced plans to invest part of the $4 million worth of profits the country has amassed from its Bitcoin (BTC) holdings to invest into constructing a new veterinary hospital in the local capital of San Salvador.
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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://cryptopotato.com/analysis-the-distinction-between-bitcoins-market-cycles-in-2017-and-2021/
https://cointelegraph.com/news/btc-price-hits-57k-five-month-high-5-things-to-watch-in-btc-this-week
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BITCOIN TO SURGE TO 0K IF BIDEN WINS EXPECT BTC ABOVE K BY INAUGURATION DAY SAYS MAX KEISER!!
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Bitcoin is set to reach $400,000 if Joe Biden wins the US presidential election, according to financial guru Max Keiser, RT host of the Keiser Report.
BTC is now set to surge far beyond its former all-time high, when it reached $20,000 in December 2017.
The popular crypto expert has predicted that Bitcoin will surge to $28,000 by the time of the inauguration day if Joe Biden is elected.
The US election and PLANdemic has caused major uncertainty in world markets with tech stocks and the US dollar falling in value.
Cryptocurrency guru Max Keiser shared the following tweets on Crypto Twitter:
“A Biden win* will lock China’s global supremacy, crash the USD, send BTC to $400,000 – as $100,000,000,000 in global managed funds start allocating into BTC to escape. Expect BTC well above $28k by Inauguration Day.”
“2016 Russian election influence categorically proven false 2020 Chinese election influence; by the time the hearings are over, will categorically be proven true. By which time, Bitcoin will be over $100,000. Are you ready?”
He also tweeted:
“A Biden win will trigger a stampede into Bitcoin as the global wealthy attempt to escape.”
The coronavirus PLANdemic has also affected Bitcoin with investors choosing to transfer their assets to safe heavens.
Confidence in Bitcoin has escalated after PayPal announced it would allow payments using the crypto-currency.
Speaking to CNBC Bitcoin investor Mike Novogratz also claimed a Joe Biden win would be good for cryptocurrencies.
He said: “Less fiscal, more Fed, good for crypto.
“We have crossed the Rubicon in crypto adoption, and we’re at the start of a really big bull market there. “You’re going to have every central bank issuing a digital currency within the next five years.”
If Mr Trump wins the 2020 US election it may lead to Bitcoin rising much slower than under his opponent’s administration.
In other trending Bitcoin News today:
“SQUARE AND GRAYSCALE ACCUMULATED $2.3B WORTH OF BITCOIN OVER Q3”
Bitcoin has undergone a strong surge over the past few months in the face of the worst economy in a few decades and much uncertainty.
From the March lows, the price of the leading cryptocurrency has rocketed higher by around 350%, outperforming most other macro assets.
BTC currently trades for $15,700, far above the 2019 highs and almost at the 2018 highs.
The leading cryptocurrency has gained 50% in the past 30 days alone, managing to gain steam despite bearish news events.
This strong rally in the Bitcoin price seems to be related to institutional and retail accumulation.
Ikigai Asset Management’s Hans Hague recently noted that per his analysis, Square and Grayscale alone have accumulated $2.3 billion worth of Bitcoin in the past quarter.
Grayscale is a digital asset manager, the world’s largest, while Square is the fintech company that offers Bitcoin purchases for its clients via the Cash App.
To put this amount of BTC into context, Bitcoin miners brought in around $1 billion worth of BTC over the course of the past quarter.
This suggests that with Grayscale and Square’s inflows alone, there was a shortfall of $1.3 billion BTC, which likely contributed to the upside.
“In 2020-Q3, Bitcoin Miners brought in just under $1 Billion USD. That’s new BTC + Fees. Square and Grayscale alone took in $2.3 Billion USD. That’s a 1.3 Billion USD Shortfall. Supply and Demand.”
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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:
A Biden win* will lock China’s global supremacy, crash the $USD, send #BTC to $400,000 – as $100,000,000,000 in global managed funds start allocating into BTC to escape. Expect BTC well above $28k by Inauguration Day. ————————————-
*Contested
— Max Keiser (@maxkeiser) November 6, 2020
2016 Russian election influence categorically proven false 2020 Chinese election influence; by the time the hearings are over, will categorically be proven true
By which time, #Bitcoin will be over $100,000
Are you ready?
— Max Keiser (@maxkeiser) November 6, 2020
Square and Grayscale Accumulated $2.3b Worth of Bitcoin Over Q3
It’s a “Matter of Time” Before Bitcoin Hits $20,000: Analyst
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BITCOIN WILL GO ALL THE WAY TO $160K ‘THIS YEAR’, SAYS CELSIUS CEO!! BTC TAPROOT UPGRADE LOCKED IN!!
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The highs for Bitcoin are yet to be seen this year, says Alex Mashinsky, chief executive officer and co-founder of Celsius – the centralized cryptocurrency lending platform – told Cointelegraph at Bitcoin 2021 in Miami that he sees the BTC price reaching $160,000 this year, or possibly a bit lower.
Mashinsky further remarked that the crypto market was bound for a correction, following Bitcoin’s recent all-time high of ~$64,800:
“When you go too high, too fast, you are bound for a correction. You can see my tweets in both March and February saying ‘we’re going to have a crash, we’re going to have a correction.’ I predicted $30,000. Bitcoin is like a spring – we stretch it too much and we put too much leverage. Too many people got greedy.”
In other trending Bitcoin News today: Bitcoin Taproot locked in to improve privacy and introduce smart contracts. The Bitcoin Taproot upgrade will activate later in 2021 as developers urge to create applications that will leverage its advantages.
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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-will-go-all-the-way-to-160-000-this-year-says-celsius-ceo
https://cointelegraph.com/news/bitcoin-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range
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0K BITCOIN PRICE BY NEXT YEAR?! | BTC Sees Its 5th Largest Hourly Crash Ever
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The Bitcoin price performance since difficulty bottom chart shows the formation of a cup pattern peaking in spring 2021.
This BTC price prediction tool puts Bitcoin at an astonishing $400k by then.
Right on cue, analyst @100trillion USD, also known as PlanB, tweeted a chart.
It’s based on a ratio of current price over bottom price ($3.7k – December 2018) against time and represented by mining difficulty.
The chart shows four distinct cycles, each beginning with low mining difficulty that corresponds with a low ratio of current price/bottom price. In each case, the ratio increases in line with mining difficulty until it peaks at around 120,000 – 140,000 blocks.
With this comes a dip in the ratio as mining difficulty gets increasingly hard. Current mining difficulty is at 80,000 blocks and based on the previous three cycles, there is room to grow up until the cup ceiling.
With that in mind, a ratio of 10, or 10 times the bottom ($3.7k), puts Bitcoin (BTC) at around $37k come halving time. What’s more, a climb towards the ceiling will see a ratio of around 100, or 100 times the bottom, putting Bitcoin at $370k by spring 2021.
BITCOIN SEES ITS FIFTH LARGEST HOURLY PRICE CRASH EVER
Bitcoin’s fifth largest hourly price drop in history happened today, according to data from Coin Metrics. In a shock brutal crash, BTC shed around $1,000 in value in less than one hour.
What does it mean?
“Today marks Bitcoin’s fifth largest hourly price drop in price history. A ~$1000 drop in under an hour. The only other time we’ve seen a greater dollar price drop is at the Dec. 2017 peak.”
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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:
Bitcoin’s hourly price change in % terms paints a much different picture.A 9.1% hourly drop ranks 122nd.
In 2013, the month of April alone saw Bitcoin drop >9% more than 20 times. pic.twitter.com/3V2dKd2ibI
— Yassine Elmandjra (@yassineARK) February 19, 2020
Today marks Bitcoin’s fifth largest hourly price drop in price history.A ~$1000 drop in under an hour. The only other time we’ve seen a greater dollar price drop is at the Dec. 2017 peak.
Data via @coinmetrics pic.twitter.com/5l0eOehKu4
— Yassine Elmandjra (@yassineARK) February 19, 2020
Bitcoin, while fundamentally is designed to go up over the ‘long’ term is currently being driven by derivative markets. Short term and mid term price trends caused by overleveraged traders can go any direction they want.
What can’t be faked, is the decade long bullish trend
— Jacob Canfield (@JacobCanfield) February 20, 2020
The Bitcoin halving is bigger than you know.
The daily global #Bitcoin demand will be higher than the daily release of #BTC; this was not the case in 2012 or 2016.
When the daily supply can’t fulfill the daily demand, we know what happens.
We’re in new territory #Crypto kids👍
— BITCOIN • XRP (@XRPjedi) February 18, 2020
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