BITCOIN IS GOING TO HIT $400K THIS CYCLE AND ETHEREUM $40K, PREDICTS MACRO GURU RAOUL PAL!!!!

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For a number of years now Bitcoiners have predicted that the Bitcoin price will surpass its all-time high of $20K per BTC from 2017, and many believe it will rise to the $100k or six-digit price range.

This week cryptocurrency enthusiasts discussed the possibility of the crypto asset reaching $100k at great length.

In mid-December 2017, the price of bitcoin (BTC) touched an all-time high (ATH) of $19,600 per coin. Today, BTC is 45.81% lower than the 2017 ATH but a number of Bitcoiners believe that the crypto asset will surpass that price range.

For instance, at the 2020 Virtual Blockchain Week event, the well known venture capitalist Tim Draper said he believes the price of BTC will touch $250k by 2022 or early 2023.

Mark Yusko the CEO of Morgan Creek said he thinks BTC will reach $100k.

Other influencers who believe $100k per BTC is attainable include Blockfyre’s Simon Dedic, Cardano’s Charles Hoskinson, and Morgan Creek’s Anthony (Pomp) Pompliano.

This week a great number of average folks leveraging the Reddit forum also discussed the possibility of BTC reaching $100k.

The Reddit post called “How many people here think 100k is happening at any point?” was a topical discussion on Sunday and hundreds of people commented.

A deep scan into the thread shows that a great majority of bitcoiners think that $100k is destined to happen. Although, there were a fraction of individuals who did not think BTC could reach the six-digit zone.

A few people compared BTC to the likes of gold and said that the crypto asset will mimic the precious metal’s store of value benefits.

“Just look at the market cap for gold in the trillions, around $9 trillion,” the individual stressed. “If BTC hit the same market cap that would mean about $485k per currently circulating bitcoin. That’s just using this year’s numbers. and not counting for lost BTC.”

The subreddit r/bitcoin is not the only place on the web where individuals are discussing BTC hitting the six-digit range.

On Twitter, the $100k per BTC conversation is also very prominent. On September 25, the creator of the stock-to-flow (S2F) bitcoin model, Planb, held a poll about the six-digit price range which received over 24,000 votes.

While 34% said BTC will stay below $55k, over 26% said the crypto asset would be $100k and 19.5% voted for $288k per coin.

On Friday, Crypto Capital Venture told his 19,000 Twitter followers that $100k will happen but the crypto asset would probably slide back down to $30k. “Bitcoin to $100k isn’t a final destination,” he tweeted.

“It’s a pit stop; a service area where the rest of the world will finally have a chance to say ‘Ok, let me get on board please.’ … And then it’ll retrace to $30k.”

In other breaking Bitcoin News today:

More Than 32,000 Bitcoin or About $335M Has Been Withdrawn From BitMEX After The US Government Charges Its Owners

In the aftermath of criminal charges against BitMEX, the crypto community is debating whether the decentralized finance sector is also set to face the wrath of regulators.

On Oct 1, the U.S. Commodity Futures Trading Commission announced charges against three BitMEX executives for violating the Bank Secrecy Act (BSA) due to the exchange’s allegedly weak anti-money laundering and know-your-customer (KYC) policies.

DeFi protocols, including Decentralized Exchanges (DEXs) have made a virtue of having minimal AML and KYC procedures.

However many now wonder if DEXs are also obliged to comply with the BSA, even though most projects seek to decentralize ownership and governance throughout their communities.

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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:

Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!

— Donald J. Trump (@realDonaldTrump) October 2, 2020

https://cointelegraph.com/news/why-the-bitmex-charges-could-be-bad-news-for-defi

https://www.coindesk.com/bitcoin-stock-trump-covid

https://news.bitcoin.com/bitcoins-big-believers-6-digits-inevitable-btc-has-a-better-chance-of-going-to-100k-than-zero/

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Morgan Creek Digital Assets co-founder and partner Jason Williams says Bitcoin could meteorically rise nearly 17,900% in five years as BTC solidifies its position as a safe haven asset.

In a Norwegian Block Exchange interview, Williams offers his bull scenario for the world’s leading cryptocurrency.

“Bitcoin could hit $1 – $3 million dollars in the next five years. People have no idea what it will look like when large banks and countries start holding Bitcoin in their treasury.”

The crypto hedge fund manager highlights Bitcoin’s scarcity as a key characteristic that will attract more institutional players and continue to drive the value of the king cryptocurrency.

In the last few months, institutional players in the form of publicly traded companies have announced their entry into BTC with multi-million-dollar investments.

In September, business intelligence company MicroStrategy upped their BTC investments to $425 million. Last month, payments giant Square revealed that it made a $50 million BTC acquisition.

With more institutions flocking into the number one cryptocurrency, Bitcoin Treasuries reveals that publicly traded companies have increased their BTC holdings from over $6.9 billion in mid-October to $10.7 billion this month.

In April, when Bitcoin was trading around $6,000, Jason Williams predicted that BTC would surpass its all-time high of $20,000 this year.

In other trending Bitcoin News today:

Trump Or Biden? Max Keiser Explains Why Bitcoin Will Be The Ultimate Winner After the US Elections

Famous TV host Max Keiser explains how Bitcoin will emerge as the ultimate winner, despite who wins the 2020 US Presidential elections.

Max says, “With Trump, who at least understands something about capitalism, the ascent of Bitcoin would be slower as I believe he would calm markets by having the US enter the global hash war that Iran now leads in a Sputnik-like call to enter the Hash Race moment.”

Keiser added that the US needs to strive for a “big slice of Bitcoin’s global hash rate before our competitors do. I know of several countries that will soon announce major sovereign underwritings of BTC hash rate to try and oust Iran’s position.”

Keiser’s views see BTC sharply explode in value in case Biden emerges the winner come Sunday.

“As I’ve said, a Biden win would accelerate Bitcoin’s advance as panic-buying from those looking to escape the socialists, money printers, and MMT’ers goes into hyperdrive.”

“It will be like the 1938’s Kristallnacht (also known as the Night of Broken Glass or the November Pogrom), jack-booted armed thugs will go door-to-door stealing property in the name of social justice.”

Bitcoin is bigger than the elections, asserted Keiser.

It’s an asset that has no real “correlation with anything – stocks, bonds, currencies, gold, commodities, or property – and certainly no political parties or political outcomes, here in the US or anywhere in the world.”

Bitcoin is correlated only to Bitcoin. Despite the outcome of the upcoming elections, Bitcoin will still be backed “by an insatiable hunger.” It’s a cosmic scale hunger because “Bitcoin is the Big Bang of money.”

“To be clear, I don’t mean BTC is backed by energy. What I’m saying is, it’s backed by code that’s unstoppably programmed to consume all available energy on Earth and beyond, to create absolute monetary scarcity to elevate humanity to a more pure spiritual state of existence. Transcendence on this scale takes synchronization and massive amounts of energy.”

Keiser also said that no matter who’s the US president, Bitcoin is on its way to take out gold as the ultimate monetary store of value and doubled-down on his 40x-80x price prediction.

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Trezor: ► http://trezor.cryptonewsalerts.net

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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://dailyhodl.com/2020/11/02/bitcoin-btc-could-surge-to-3-million-within-five-years-says-crypto-hedge-fund-manager-heres-why/

https://cryptopotato.com/trump-or-biden-max-keiser-explains-why-bitcoin-will-be-the-ultimate-winner-after-the-us-elections/

https://cointelegraph.com/news/btc-traders-caught-off-guard-3-reasons-bitcoin-dropped-2-in-just-1-hour

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A narrative has formed over recent months that the Bitcoin price is closely correlated with gold.

But according to a recent analysis shared by a crypto trader, BTC may actually be closely correlated with silver.

The issue with this correlation is, silver’s price action is preceding that of Bitcoin by a few weeks.

The trader in question shared the chart on August 23rd.

The chart shows that should Bitcoin’s trajectory continue to follow that of silver, the cryptocurrency will soon trade at $20,000.

After hitting $20,000, the fractal also suggests that the BTC price will move to $30,000.

Few analysts actually expect Bitcoin to hit $30,000 this year, especially in just a few months.

But many analysts and investors, like BitMEX’s Arthur Hayes and Galaxy Digital, are adamant that $20,000 will be breached in 2020.

The fundamentals, like the silver fractal aforementioned, also suggest that Bitcoin is likely to move higher from here.

Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, recently said that Bitcoin’s trend of volatility suggests an uptrend is intact:

“Stuck between 3-9x over the past few years, the price of Bitcoin per ounce of gold tilts the crypto toward resuming appreciation, if volatility history tells us anything. The Aug. 19 cross rate of 6x is the same as in 2017, yet Bitcoins’s volatility has dropped relative to gold.”

McGlone has been touting the Bitcoin bull case for months now.

Also core to his positive sentiment is the influx of investment the cryptocurrency space is seeing, exemplified by institutional money flows through the CME, Grayscale, and other avenues:

“Bloomberg Intelligence Commodity Primer – Something unexpected needs to happen for #Bitcoin’s price to stop doing what it’s been doing for most of the past decade: appreciating. Demand and adoption metrics remain favorable vs. the #crypto asset’s unique attribute of fixed supply.”

McGlone says that Bitcoin could hit $20,000 in 2020, citing the similarities between this market cycle and the last one.

In other trending Bitcoin News today:

Fed, futures and fundamentals: 5 things to watch in Bitcoin this week

Bitcoin (BTC) starts another week in a bullish mood as hurdles line up to shape price trajectory.

Here are five factors determining where BTC/USD may go in the coming days, and what traders should look out for.

1 – All eyes on the Fed and U.S. inflation

Stocks saw records last week with the S&P 500 hitting all-time highs.

Despite a lower overall impact on Bitcoin, moves on macro markets are still more than capable of spilling over into cryptocurrency.

2 – Analyst eyes $9,600 for BTC price “buy the dip”

In a transaction analysis video on Sunday, van de Poppe added that in the event of a breakdown, the “buy the dip” level to look out for would nonetheless fall below $10,000.

“The real level I’m watching for buy the dip levels if we do break out is between $9,600 and $9,900,” he summarized.

3 – Bitcoin difficulty hits a new record

A mixed bag for Bitcoin fundamentals saw network difficulty adjust upwards 3% to hit new all-time highs, but hash rate trend lower.

According to data from monitoring resource BTC.com, difficulty increased by 3.6% on Monday to hit 18.17 trillion.

4 – $730 million options expire

62,000 BTC ($730 million) worth of Bitcoin options will expire on Aug. 28, reminiscent of the end-of-month action from June.

5- “Extreme greed” reigns supreme

Bitcoin investor sentiment is “extremely greedy” and getting greedier. 

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Trezor: ► http://trezor.cryptonewsalerts.net

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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 Eerie Silver Fractal Predicts Bitcoin Will Soon Shoot Towards $20k

https://cointelegraph.com/news/fed-futures-and-fundamentals-5-things-to-watch-in-bitcoin-this-week