BITCOIN IS GOING TO $10 MILLION PER COIN, SAYS MICHAEL SAYLOR!! BTC PRICE HITS FIVE-MONTH HIGH!!

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As Bitcoin inches closer to its previous $20K all-time high, Bloomberg analyst Mike McGlone shared on Bloomberg TV that he’s bullish on what’s next for the benchmark cryptocurrency in the future and even predicted a $170,000 BTC price point by 2022.

Bitcoin closed Thursday at $17,821, slightly above the previous day and also a new 2020 high. It’s also the highest it has reached in the last three years. 

With Bitcoin now less than $2,000 away from its previous high of just below $20,000, analyst Mike McGlone from Bloomberg believes the dominant crypto is not yet finished in its ascent.

McGlone said that since Bitcoin added one in front of its number compared to last year, it will likely add a zero to the back of its number next year or by 2022. 

“If you look at past performance, which is potentially indicative of the future, next year or two could add a zero to the back of the number,” he said on Bloomberg TV.

Bitcoin ended 2019 at $7,000 and is now at $17,000. This means McGlone was right that the cryptocurrency added a one at the front of its number. 

If Bitcoin adds zero at the back of its number, that’s a price of $170,000, as McGlone predicted.

McGlone pointed out that Bitcoin’s price increase is because of people’s perception that it is digital gold, Cointelegraph reported. 

Gold, a store of value, has also breached past $2,000 in a new all-time high and is now consolidating.  

With that, Bitcoin could likely be consolidating at this price point as well, with $20,000 only acting as short-term resistance. 

“I’m afraid it’s probably going to do what gold did. It got to $2,000, and then that’s been consolidating in a bull market since,” McGlone continued.

Finally, McGlone mentioned that institutional FOMO (fear of missing out) is also the likely reason why the new price run is different from the one in 2017. 

Both Microstrategy, a billion-dollar company, and payments firm Square announced that they have put Bitcoin as part of their reserves. PayPal Holdings Inc. recently allowed U.S. customers to purchase Bitcoin. 

In other trending Bitcoin News Today:

“Price Target $300K? Bitcoin Has No Top Because Fiat Money Has No Bottom – Max Keiser”

The hosts of RT’s Keiser Report, Max Keiser and Stacy Herbert, look at Citibank coming out with ‘moonmath’ on bitcoin with a hugely bullish price target of $318,000 by December 2021.

Max says that he can’t believe what Citibank is saying because it is becoming “even more aggressive” on the price than John McAfee who has always been “crazy beyond the pale price predictions.” According to Max, Citibank is now kind of “taking the price prediction crown.” 

According to Max, more banks will be competing with each other to come up with higher and higher price predictions. 

“But none of them are going to capture the ultimate bull market number because remember, bitcoin has no top because fiat money has no bottom.”

4 Reasons Why Bitcoin Price Is On The Verge Of A New All-Time High

Earlier today the price of Bitcoin (BTC) hit $18,815 on Binance for the first time in nearly three years. Following the breakout, BTC is on track to see a new all-time high in the near term for four significant reasons.

The factors that make a new record high likely are growing institutional demand, reduced selling pressure, a spot-driven market rally, and the significance of the $18,500 resistance breach.

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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://www.ibtimes.com/bitcoin-price-prediction-btc-may-reach-170000-2022-bloomberg-strategist-says-3085760

https://www.rt.com/business/507167-bitcoin-price-has-no-top/

https://cointelegraph.com/news/4-reasons-why-bitcoin-price-is-on-the-verge-of-a-new-all-time-high

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This past weekend, data shows the most active Bitcoin options contracts were calls for $28k, $32k, and $36k by the year’s end.

This means a number of options traders are betting the BTC price will exceed the all-time high (ATH) the decentralized currency touched in December 2017.

On September 14, researchers from the data analytics firm Skew.com tweeted about an unusual number of call options for December 2020 that are well above the 2017 ATH.

“[December 2020] $28k, $32k, [and] $36k calls among the most active bitcoin options contracts yesterday,” Skew tweeted.

All of these calls are well above the mid-December 2017 ATH, which saw BTC touch $19,600 per coin.

The new open positions took place on the crypto-financial derivatives platform Deribit.

The action took place after $570 million (notional) of BTC options contracts expired on Deribit on August 28.

There were 752 open positions for $36k, 462 contracts for $32k, and 230 for $28k.

Additionally, some $9k and $9,750 calls were set for the end of September.

Responding to Skew’s December calls tweet, one individual wrote:

“Without opining the possibilities to this, it will be entertaining to revisit at the end of the [fourth] quarter.”

Essentially, bitcoin options are crypto-derivatives products that provide a person or group with the right, but not obligation to buy and sell the BTC at a predetermined strike price, while also leveraging an expiry date.

“If you think from a technical perspective what we are getting right now is Bitcoin flipping a former resistance level at $10,000 to become a support. From May to the end of July, Bitcoin was desperately stuck below $10k. But for [seven] days now $10,000 is holding strong.”

In other trending Bitcoin News today:

Global Fiat Failure Will Push Countries to Accumulate Bitcoin, Says Max Keiser

Max Keiser, Wall Street vet and host of RT’s Keiser Report, says he believes countries will seek refuge in Bitcoin as fiat currencies fail on a global scale.

“You’ll see countries start to accumulate Bitcoin and start to mine for Bitcoin as well, and then they’ll start to subsidize the money they would be subsidizing the energy industry in and subsidizing that in the Bitcoin mining space.

So then the game theory kicks in. So, for example, Iran right now has something like 2% of the global hash rate of Bitcoin… Let’s say suddenly they’ve got 5% of the hash rate… So then America says ‘Wait a minute this is like the Sputnik moment.

Iran could potentially be the richest country in the world if they have a significant piece of Bitcoin,’ and the price goes to $400,000 to compete with gold…so then they (America) start to subsidize their mining.”

Keiser says the race to acquire more BTC between competing countries will drive the price and security of Bitcoin to heights never before seen.

“So what this does is it increases the hash rate so the hash rate now is over a hundred quintillion calculations per second in the Bitcoin mining space… Which means the security goes up, which means it’s even harder money.

Bitcoin is not only hard money but it keeps getting harder every week and every month because the hash rate gets higher and higher and higher. So with that higher security, higher hash rate, the price goes up. It becomes a self-fulfilling prophecy. So now you’re chasing the Bitcoin up through to a $100,000, $200,000 a coin to get the hard money because all your fiat money is collapsing.”

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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://news.bitcoin.com/bitcoin-options-traders-bet-the-price-of-btc-can-touch-36k-by-december/

https://cointelegraph.com/news/more-than-1b-in-bitcoin-has-been-tokenized-for-defi

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The Bitcoin price hasn’t fared too well over the past week; after hitting $10,000 last weekend, the BTC price of the leading cryptocurrency fell, tumbling from that key psychological resistance to a price as low as $8,450 (TradingView data) – a drop of 15%.

While there are a number of analysts hinting that this retracement is a precursor to a deeper correction, a growing number of commentators claim that Bitcoin (BTC) is on the verge of rallying 100% (or more) towards the previous all-time high of $20,000.

What’s even more interesting about these Bitcoin predictions is that a few traders expect such price action to transpire over a couple of months, not the years it took BTC to move out of a bull market in 2014-2015.

Could Bitcoin Really Hit $18,000 In the Coming Months?

Despite the fear floating around the crypto industry at the moment due to last week’s severe correction, Polar Hunt recently shared his analysis.

The analysis, which attempts to compare the price action between the market structure in 2014-2016 to the market structure, suggests that Bitcoin is currently “holding up nicely” against the previous market cycle.

BTC following the previous market cycle to T, per Polar Hunt’s charts, will mean the asset surging to $18,000 – a gain of over 100% from the current price of $8,550 – by the time of the block reward reduction in May 2020.

Veteran Trader Who Predicted Bitcoin (BTC) Rise to $100,000 Issues Painful Update to Cryptocurrency Investors

A veteran technical trader who was immortalized in the world of crypto for calling the top of Bitcoin’s last parabolic cycle is updating his views on the leading cryptocurrency.

In June of last year, Peter Brandt said BTC appeared to be at the start of a fourth parabolic phase, taking aim at $100,000.

“Bitcoin takes aim at $100,000 target. BTC/USD is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”

As its price continued to rise in February, he said Bitcoin’s strong start to the year suggested an even larger moonshot could play out through 2021.

Since then, BTC has aggressively retraced from a high of $10,421 on February 12th to its current price of $8,669 at time of publishing.

Amid the downturn, Brandt says he still has a positive outlook on BTC – but the significant correction shows the painful truth: Bitcoin has yet to prove it’s on a parabolic path.

“I am constructive on BTC, but let’s look at facts. BTC has been in bear market for 26 months — not exactly a bull trend”

“I receive a ton of criticism, sarcasm and trolling because I change my mind on markets. Just to let you trolls know, I take my willingness and ability to change my mind quickly as a point of survival and pride as a trader.”

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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:

Here are the stages an investor goes through in a liquidating market1. It’s a great stock. I believe in it2. I will buy more if it goes down more3. I will get out if I can break even4. I will get out if my loss is reduced

5. My opinion of the stock doesn’t matter. Let me out

— Peter Brandt (@PeterLBrandt) February 28, 2020

This is also holding up nicely and shows how this particular part of the marketcycle is “sideways” and therefor both hard to buy and hard to hold.

Im writing these posts to show you, but also to remind my self not sell any. I actually added to my stack this Friday. pic.twitter.com/VIG2a6OZ8q

— Polar Hunt (@polar_hunt) March 1, 2020

Here’s Why Bitcoin Could Rally 100% to $18,000 by the 2020 Halving

https://www.tradingview.com/chart/XBTUSD/Noakp7n5-Why-I-believe-Bitcoin-will-retest-All-Time-Highs-by-July-1-2020/