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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 todayâs show I share the 5 most important things to watch in BTC market this week. Also in todayâs 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 Best Q1 Since 2013 to âEscalateâ If .5K Is Broken | Why is John McAfee Bashing BTC Again?
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Bitcoin (BTC) investors have already made more on their holdings this quarter than any Q1 since 2014, as data shows a sustained influx of institutional interest.
According to findings from statistics resource Skew Markets, the Bitcoin price gains so far in 2020 amount to just under 30%.
In no other quarter in the past six years did markets perform that strongly.Â
By contrast, Q1 tends to be an underwhelming period for the BTC price. 2014 saw 39% losses, while 2015 and 2016 saw BTC/USD drop by 24% and 3% respectivelyOnly 2017 and 2019 managed to produce positive moves, but at around 11%, neither comes close to this year.
2011 and 2013 were the years Q1 returns were strongest, at 165% and 570%, according to Bitinfochartsâ price index.
Crypto markets have been on fire this week and another $10 billion has just been pumped in.
Crypto pundit John McAfee is back bashing Bitcoin as some top altcoins make double digit gains.
Digital warlord John McAfee has been known for his candid commentary on Crypto twitter.
A recent outburst has again taken a swipe at Bitcoin labeling it as a âtrue shitcoinâ.
âWhichever Bitcoin Maximalist came up with the term âShitcoinâ for all other coins; Was brilliant. But we all know that the future of Crypto rests with the Alt Coins. Bitcoin â Old, clunky, no security, no smart contracts, no DAPs âŠ. Is the true Shitcoin.â â John McAfee
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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:
Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins;Was brilliant.But we all know that the future of Crypto rests with the Alt Coins.Bitcoin âOld, clunky, no security, no smart contracts, no DAPs âŠ.
Is the true Shitcoin.
â John McAfee (@officialmcafee) January 29, 2020
Open interest on #bitcoin is currently at $943 million. Every time weâve hit $1 billion weâve seen a pretty big sell off.
Letâs see if this time will be different.
â Jacob Canfield (@JacobCanfield) January 28, 2020
Volume tells all. A true trend is identified when volume is rising. Blue arrows show volume and price in agreement. Red arrows show price action on descending volume. Price going down with volume = consolidation, not a bearish trend. Volume may be rising with price again. pic.twitter.com/w7Crg7MgjA
â The Wolf Of All Streets (@scottmelker) January 27, 2020
Altcoins Surging, But Why is John McAfee Bashing Bitcoin Again?
https://cointelegraph.com/news/bitcoins-best-q1-since-2013-to-escalate-if-95k-is-broken-trader
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CAN BITCOIN PRICE HIT 4,000 SOMETIME IN LATE 2021? | Ratio Shows Big BTC Advantage Over Amazon
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Mimicking 5,000% gains which were experienced during the previous BTC halving bull cycle, gives a Bitcoin price of $424,000, happening sometime in November 2021.
Obviously, there is no indication yet as to whether the 20MA will now act as support for an extended Bitcoin (BTC) bull run.
But, if we assume that we have reached that point in the cycle and project the same gains from this point as we saw from February 2016, we come up with an impressive new all-time high (ATH).
However, Cowen does not see fresh gains of 5,000%, rather than gains on the way to the next ATH may be a more conservative, although still huge 1,000-1,500%.
He also thinks that the market cycles are lengthening.
Specifically that the time between the halving and the peak has been getting longer.
After the first Bitcoin halving, the peak came after around 52 weeks.
However, after the second halving, this period increased to 73 weeks. Cowen, therefore, suggests that the peak following this yearâs halving may take longer still, with a potential peak not occurring until 2022.
Still, that would give us a $125k BTC price sometime in early 2022, which is certainly not to be sniffed at⊠if we can stay above the 20MA as support.
Analyst Who Predicts Bitcoin Will Hit $1,000,000 Says This Ratio Shows BTCâs Big Advantage Over Amazon
PlanB, a closely-watched crypto analyst known for his bold prediction that Bitcoin will hit $1,000,000 over the next decade, says a popular ratio used to asses risk and reward shows the leading cryptocurrencyâs potential upside compared to some of the biggest stocks on the Nasdaq.
The analyst is releasing a series of charts that apply the Sharpe ratio to BTC, Facebook, Apple, Amazon, Netflix and Google.
The ratio was created by Nobel laureate William Sharpe and is designed to show the amount of return an investor could potentially get for enduing the volatility of a risky asset.
The pseudonymous analyst says Bitcoin has a Sharpe ratio greater than 1, which is well above the competition.
âBitcoin is the only asset with a âSharpe ratioâ greater than 1! Classic asset (stocks, bonds, gold) risk and return [is] basically flat. Even FAANG (Facebook, Apple, Amazon, Netflix, Google) [are] not even close to BTC. Note I skipped Bitcoinâs first years (2009-2012) and updated data.â
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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 price was unable to reclaim level and has made its way back toward supportAll is not lost, want to see how it reacts at $8k
Be patient, you’ll be happy you stuck around this emotional roller coaster of a market in a couple years https://t.co/cKg6otZjeE
â Josh Rager đ (@Josh_Rager) January 25, 2020
They really should be calculated inside the same time period IMO, as Bitcoin has only ever existed inside a macro bull market, while many of those stocks weathered a financial crisis in 2008 and one or more bear markets which contributed to their Sharpe calculation.
â Willy Woo (@woonomic) January 25, 2020
Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Hereâs Why
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BITCOIN WILL SEE A âMONSTER BREAKOUTâ IN THE NEXT THREE DAYS!!! | BTC Ready for âExtraordinary Moveâ
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According to a cryptocurrency trader, Bitcoin will see a âmonster breakoutâ in the next three days as the BTC price continues to tighten on a macro scale.
He shared the chart which shows that per the Bollinger Bands, a key technical indicator denoting volatility and key levels, BTCâs price action is extremely tight.
Separate analyses of the Bollinger Bands indicator have found that they are at their tightest levels since November 2018.
What followed the consolidation, of course, was a 50% drop over the span of two weeks that ended the bear market.
This suggests there will be an imminent move of macro proportions, likely to play out within the next week or two.
Bulls Are In Control?
Volatility indicators do not indicate which way the leading cryptocurrency will break.
But with this latest news and new analyses, a growing number of traders are betting on the case for upside.
KI Young Ju, the chief executive of cryptocurrency analytics firm CryptoQuant, shared the charts below on July 20th.
Attached, he wrote that there are three on-chain indicators signaling investors to âBUY.â
These indicators are as follows:
* Addresses linked to Bitcoin miners are not sending their coins to exchanges, suggesting they are not being sold. * Large BTC holders deemed âwhalesâ remain HODLing their coin.
* The reserve of BTC on exchanges âhit the year-low a month ago and [it has kept] that low.
This suggests there remains an accumulation mindset amongst a majority of cryptocurrency investors.
Further adding to the bull case forming, digital asset manager Charles
Edwards noted last week that his flagship indicator just printed a macro buy signal. âBitcoin Hash Ribbons âBuyâ signal just confirmed.
The post-Halving signal is particularly special. It will probably be a very long time until the next occurs. âŠand so the great bull run begins.â
In other trending Bitcoin News today:
Bitcoin Appears Ready for Extraordinary Move in Just 48 Hours, According to Morgan Creek Digital Partner
Bitcoinâs three-month-long tightening trading range may end in about 48 hours, says Morgan Creek Digital executive Jason Williams.
Williams tells his 41,000 Twitter followers that BTC appears to be poised for a big move as the leading cryptocurrency approaches the apex of an ascending triangle pattern on the short-term timeframe.
âThis feels like a little World Cup of sorts. Bitcoin could break out on or about the 22nd. I donât think I would want to be on the sidelines going into this⊠Bitcoin volatility could be extraordinary to the upside.â
The Morgan Creek Digital co-founder is not the only analyst who expects the end of BTCâs tightening range soon.
Crypto strategist Ethereum Jack sees the king cryptocurrency exploding within the next seven days as Bitcoinâs spot volume hits a level that precedes significant price expansion.
A dwindling volume indicates that many traders are on the sidelines while waiting for an asset to provide clarity in terms of direction.
Meanwhile, the pseudonymous crypto trader Walter Wyckoff believes that Bitcoin will breach resistances as it gets a helping hand from a bullish S&P 500.
âProbably SPX [is] gonna rip on vaccine news and if that happens [it is] gonna pull up BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of BTC. Canât see Bitcoin giga dumping while markets make new highs.â
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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:
This feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.I don’t think I would want to be on the sidelines going into this but low time pref đ§
Tina and I both agree that #bitcoin volatility could be extraordinary to the upside. @BitcoinTina pic.twitter.com/EWoB0Tv8VW
â Jason Williams đŠ (@JWilliamsFstmed) July 19, 2020
On-chain Indicators Status: BUY đąâ Miners are not selling (based on MPI, Miner Outflows)
â No significant #BTC exchange inflows from whales so far
â All exchanges’ reserve hit the year-low a month ago and keep that low pic.twitter.com/IzEmujvbsUâ Ki Young Ju (@ki_young_ju) July 20, 2020
Bitcoin Will See a âMonster Breakoutâ in the Next Three Days: Analyst
https://cointelegraph.com/news/paypal-to-reportedly-offer-crypto-trading-through-paxos-partnership
https://cointelegraph.com/news/bitcoin-surges-to-93k-for-first-time-in-a-week-is-it-a-fakeout
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