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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 Price Can Hit K When US Banks Invest 1% of Assets | Visa Reveals BTC and Crypto Support
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The increasing institutional interest in Bitcoin is ânot hard to seeâ as U.S. regulators green light custody this week.
The BTC price will pass $20,000 if United States banks invest even 1% of their assets, one analyst believes.
Discussing institutional uptake of Bitcoin on July 23, Capriole digital asset manager Charles Edwards said that it was ânot hard to seeâ the unfolding trend.
âIf US banks put just 1% of their assets into Bitcoin as an investment, hedge or insurance⊠the Bitcoin price more than doubles,â he wrote on Twitter, adding:
âJust 1 NASDAQ stock (Grayscale) already owns 2% of circulating Bitcoin supply today. Itâs not hard to see where this is going.â
Edwards uploaded a chart of U.S. banksâ burgeoning asset balances as proof of the potential impact that a lean towards BTC would have on the largest cryptocurrency.
Grayscale, as Cointelegraph reported, is now a giant among Bitcoin hodlers, together with payment company Square responsible for buying up the majority of mined coins this year.
Edwardsâ comments are meanwhile timely.
This week, U.S. lenders received the green light from regulators to engage in cryptocurrency custody activities.
Whether an influx from the sector would ultimately benefit Bitcoin as an asset remains a contentious topic.
Previously, concerns circulated that institutional attention in the form of products such as a Bitcoin exchange-traded fund (ETF) would be detrimental to price discovery.
âItâs not a matter of good or bad, itâs just a fact,â Edwards added.
Nonetheless, other recent moves only serve to reinforce the marketâs upward trajectory.
Paul Tudor Jones, the maverick investor who has become increasingly bullish on Bitcoin, recently revealed that he had already put as much as 2% of his wealth in BTC.
In other trending Bitcoin News today:
Payments Giant Visa Reveals Roadmap to Supporting Bitcoin (BTC) and Cryptocurrency
Visa is laying out its plan to support Bitcoin (BTC) and the cryptocurrency space at large.
In a new blog post, the payments giant says it recognizes the role of digital assets in the future of money.Â
âThe concept of digital currency â or a digital version of cash controlled by a private key â was created more than a decade ago, with the launch of Bitcoin. Today, fiat-backed digital currencies, commonly referred to as âstablecoins,â have emerged as a promising new payment innovation, combining the benefits of digital currencies with the stability of existing currencies like the US dollar.â
Visa is already active in the cryptocurrency space, working with crypto platforms Coinbase and Fold.
The company says it plans to extend its services to digital currency wallets through its FastTrack program, allowing fintechs to integrate with Visaâs global network of 61 million merchants.
And in other trending BTC news today:
Top Analyst Bullish on Ethereum and Five Altcoins, Says Bitcoin Wonât Lead Surge in Crypto Market Cap
Crypto trader and analyst Michaël van de Poppe is bullish on Ethereum and a slew of altcoins.
Van de Poppe says ETH, rather than Bitcoin, will lead the way for a breakout in total crypto market cap.
The analyst believes Ethereum is âready for $500â after recently pushing through the $250 price barrier.
Van de Poppe is also bullish on Chainlink (LINK), Elrond (ERD), TomoChain (TOMO), Perlin (PERL), and LTO Network (LTO).
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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:
$BTCClose above that red line today ($9300) and I might reconsider my short term bearish bias (mid-term bear bias remains).
Close below and I’ll consider shorting more aggressively targeting the green line ($8500) first and green area second (~$7000) pic.twitter.com/ql3cOXKKdQ
â DonAlt (@CryptoDonAlt) July 22, 2020
If US banks put just 1% of their assets into #Bitcoin as an investment, hedge or insuranceâŠâŠ the Bitcoin price more than doubles.Just 1 NASDAQ stock (Grayscale) already owns 2% of circulating Bitcoin supply today.
It’s not hard to see where this is going. pic.twitter.com/i3oqPTcAPl
â Charles Edwards (@caprioleio) July 23, 2020
The total market cap of crypto will break out (most likely) upwards.
That’s not going to be through $BTC.
That’s going to be through $ETH.
As $ETH is very undervalued.
â Crypto MichaĂ«l (@CryptoMichNL) July 22, 2020
Why Regulators Allowing US Banks to Hold Bitcoin Is So Positive for Crypto
https://cointelegraph.com/news/bitcoin-price-can-hit-20k-when-us-banks-invest-1-of-assets-analyst
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BITCOIN WILL HIT $160K THIS YEAR ON THIS ONE CONDITION, SAYS CELSIUS NETWORK CEO!!!!
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The co-founder and CEO of blockchain platform Celsius Network says that Bitcoin could hit a new record high this year if one condition is fulfilled.
Alex Mashinsky says that he still believes Bitcoin could hit a price of at least $140,000 over the coming months despite the flagship cryptocurrency momentarily crashing from nearly $53,000 to below $43,000 earlier this week.
âI am still holding my projections that we will be hitting the $140,000 to $160,000 levels. It might take us into Q1 [first quarter] of next year because of this kind of flash crash and clean-up we have seen with the Chinese miners. But itâs definitely going higher.â
In other trending Bitcoin News today: EL Salvadorâs Historical Adoption Could Send Bitcoin Past $100,000!
One of the most important events in the history of bitcoin has taken place, with a nation making bitcoin legal tender.
Head of Standard Charteredâs new bitcoin and crypto research unit, Geoffrey Kendrick, told clients in a note on Tuesday:Â
âAs a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless worldâ and âcyclically, we expect a peak around $100,000 in late 2021 or early 2022.âÂ
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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:
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BITCOIN (BTC) RALLIED 6,400% LAST TIME IT MADE THIS FORMATION, AND ITâS BACK AGAIN | Altcoin Rally
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Bitcoin isnât even past $10,000 â let alone the latest all-time high of $20,000 â but analysts are already craving the crypto marketâs next parabolic bull rally.
While this rally has yet to arrive, a prominent cryptocurrency chartist has indicated that itâs close.
He pointed to a crucial and rare technical formation that marked the start of Bitcoinâs last macro bull trend, which brought the BTC price from $200 to $20,000.
Depending on what chart you look at, today or within the next few days, Bitcoin will print what is known in technical analysis as a âgolden cross.â
Investopedia describes a golden cross as a âcandlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average.â
In BTCâs case, the 50-day simple moving average will cross above the 200-day simple moving average for the second time this year.
This golden cross is bullish in and of itself: golden crosses, as I analyzed, have historically led to massive gains for Bitcoin.
Yet the exact context the cross is taking place could signal even greater gains are in the works.
Analyst Nunya Bizniz recently shared the two charts below with the following comment, indicating that the last time Bitcoinâs 50 and 200-day moving averages looked as they do now, the cryptocurrency rallied 6,400%:
âBitcoin daily chart: for the first time during the 2015 lows, there was a golden cross, death cross, golden cross sequence that occurred all within the span of about 100 days. Price then rallied 6,400%. For the 2nd time at 2020 lows, this sequence has agains occurred within about 100 days.â
It isnât only this technical formation suggesting Bitcoin has another period of dramatic growth on its horizon.
Tuur Demeester â founding partner of Adamant Capital, a Bitcoin alpha hedge fund â recently shared that he thinks BTC is ready to rally towards the $50,000-100,000 range.
Such high prices may seem like a quixotic dream, sure, but according to the long-time industry analyst, a five-figure and six-figure BTC making more and more sense due to fundamentals.
Demeester specifically cited the ongoing macroeconomic environment as a way to back his prediction, zeroing in on the money printing by governments and central banks alike:
âI think a price target of like $50,000 is not insane at all, especially given just how crazy the money printing is. I would even say between $50,000-$100,000.â
In other trending Bitcoin News today:
Ethereum, Litecoin, Chainlink and 4 More Altcoins Poised for Major Rallies in New Market Cycle, Says Crypto Analyst DataDash
Crypto strategist Nicholas Merten is naming seven altcoins that he believes are in a good position to surge in a new bull market cycle.
On the latest episode of DataDash, the crypto analyst examines when the altcoin market may begin to turn around.
âWhat it looks like [Bitcoin is] doing is possibly coming up here to around $11,000, breaking out of this very long-term wedge, breaking out above resistance, and making it support for the next coming months. If [Bitcoin] can do this and start to trigger the next cycle, this is actually very good news for altcoins.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 daily:For the 1st time during the 2015 lows there was a GC-DC-GC sequence that occurred all within the span of about 100 days.Price then rallied 6,400%.For the 2nd time at 2020 lows this GC-DC-GC pattern has again occurred within about 100 days.
Price will âŠâŠâŠâŠâŠ? pic.twitter.com/8i4V1EjQiY
â Nunya Bizniz (@Pladizow) May 18, 2020
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