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

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Bitcoin could surge by up to 10x and reach $170,000 if BTC closes November’s monthly candle at or above $13,880, based on historic performance, according to popular crypto analyst Josh Rager.

Bitcoin has been surging in value in the past month. The impressive performance led to several consecutive yearly records and reaching $16,000 last Friday – the highest BTC price displayed since early January 2018.

Although the cryptocurrency has retraced since its peak and currently trades at about $15,400, the analyst Josh Rager suggested that the asset could soon skyrocket even further.

Rager noted that “every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1,000% uptrend has followed.”

The first similar scenario highlighted in his graph above occurred in 2013. BTC’s January monthly close was around $20, which coincided with the previous monthly high.

Shortly after, the primary cryptocurrency spiked to about $150 – or a near 700% increase.

Somewhat identical events transpired on two more occasions in 2014 and during the parabolic price increase of 2017.

The latter is also the current benchmark as BTC closed in December at about $13,880.

With Bitcoin’s price hovering above that level now, Rager believes that “November could be the first monthly close that we see breaking the previous high.”

Should his prediction materialize, Bitcoin will find itself in a six-digit price territory.

The “modest” 700% increase will take BTC to $120,000, while the 1,000% surge will result in $170,000 per coin.

Another famous BTC analyst, Willy Woo, attributed Bitcoin’s latest price surge to smart money – high net worth individuals. He asserted that the average transaction value between investors had increased substantially in the past few months.

“Who has been buying this rally? It’s smart money… High Net Worth Individuals.

You can see the average transaction value between investors taking a big jump upwards. OTC desks are seeing this too.

Bitcoin is still in its stealth phase of its bull run.”

In other trending Bitcoin News today:

“Billionaire Investor Stanley Druckenmiller Says He Owns Bitcoin, Believes Top Crypto Asset Has More Upside Potential Than Gold”

Billionaire and famed money manager Stanley Druckenmiller says he has warmed up to Bitcoin and now owns the crypto asset.

Druckenmiller tells CNBC’s The Exchange that he’s predicting a steady decline in the value of the US dollar in the next few years as he expects inflation to rear its ugly head.

“When you look at the extraordinary measures taken by the Fed and the fact that they’re monetizing the debt, I think it’s a high probability that we get inflation in the next five or six years, starting maybe in a year or two.

Particularly with the vaccine, now the economy could run very hot, at the same time all the stimulus is in the pipeline, at the same time we have challenged supply chains between the United States and China.”

Kelly Evans, the host of The Exchange, noted Druckenmiller’s interest in BTC when she introduced him.

The billionaire emphasizes that his interest in the cryptocurrency is only moderate compared to gold.

“With regard to gold and Bitcoin, you’ve kind of overstated in your introduction my enthusiasm for Bitcoin. I do own a tiny bit of it but I own a lot more gold. Gold is a 5,000-year brand as a go-to asset in terms of inflation.”

Druckenmiller, however, does note that Bitcoin could potentially have more upside than the precious metal.

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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:

$BTCEvery time Bitcoin has closed above the previous monthly all-time high – a 700% to 1000% uptrend has followed

November could be the first monthly close that we see breaking the previous high and historically that’s been a very bullish sign for the crypto market pic.twitter.com/5SBTtE600U

— Josh Rager 📈 (@Josh_Rager) November 10, 2020

“I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value,” says legendary investor Stanley Druckenmiller to @KellyCNBC. His “dollar-decline basket” also features good ol’ gold.$BTC $RIO $FCX pic.twitter.com/2zuM8JqxaW

— The Exchange (@CNBCTheExchange) November 9, 2020

Who has been buying this rally? It’s smart money… High Net Worth Individuals. You can see the average transaction value between investors taking a big jump upwards. OTC desks are seeing this too.

Bitcoin is still in it’s stealth phase of its bull run. pic.twitter.com/3q41pmNVP9

— Willy Woo (@woonomic) November 9, 2020

The significance of the worlds greatest and most respected money manager – Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to invest…#Bitcoin

— Raoul Pal (@RaoulGMI) November 9, 2020

https://cointelegraph.com/news/18k-bitcoin-price-eh-btc-market-cap-may-pass-canada-s-monetary-base

https://cryptopotato.com/analysis-bitcoin-can-go-10x-from-current-price-if-november-breaks-monthly-ath-close/

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The Bitcoin price likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%.

In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, the BTC price should bottom at 20% of its 2019 highs — $2,800.

Vays on $2.8K: “I don’t think it’s likely anymore”

This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences.

After March 12, when Bitcoin (BTC) bounced off 15-month lows of around $3,700, Vays now thinks that Bitcoin will not return to put in lower levels.

“I don’t think it’s likely anymore,” he summarized.

“Because I think this incident, this event earlier this month was close enough $2,800 that I’m no longer expecting $2,800.”

Since the bounce, Bitcoin has broadly maintained higher support, with the recovery reaching almost 90% in the subsequent two weeks.

Continuing, Vays suggested that in fact, $2,800 would have appeared during the dive and that it was only the crashing of derivatives giant BitMEX which prevented it.

“If BitMEX did not go down, we probably would have $2,800 and maybe even lower,” he said. 

“It’s very possible that if BitMEX didn’t crash, the selling would have just accelerated, but right now, I’m under the assumption that the low is in.”

Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above

The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend.

Those were short-lived, however, with Bitcoin regaining lost ground within hours. 

Now, hopes were high that price action would remain more bullish, allowing Bitcoin to close a new futures gap left at the end of trading on Friday. 

The gap lies between around $6,300 and the closing price of Friday’s CME futures session at $6,680. 

As Cointelegraph reported, Bitcoin has very often returned to trade at levels left behind by futures markets — before its price volatility surged in mid-March, just one gap remained, much higher at $11,800.

For Cointelegraph Markets analyst Michaël van de Poppe, however, there was overall still a bearish trend in Bitcoin, despite the upside potential posed by the gap.

“The first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first,” he tweeted on Monday. 

“This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.”

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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 #BITCOINThe first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first.This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.

Still bear pic.twitter.com/bn0BHHRDHd

— Crypto Michaël (@CryptoMichNL) March 30, 2020

https://cointelegraph.com/news/bitcoin-price-reclaims-6k-as-traders-eye-new-btc-futures-gap-above

https://cointelegraph.com/news/bitcoin-price-likely-bottomed-in-37k-bitmex-crash-says-tone-vays

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Dan Held thinks Bitcoin (BTC) could skyrocket to $1 million in four to five years due to what he anticipates will be an unprecedented influx of institutional investment.

Held, Kraken’s head of business development, sat down with Cointelegraph’s YouTube channel to expand on his belief in a potential Bitcoin super cycle.

“I think this [bull run] versus other cycles will be much stronger because we will have institutional money flowing in. We’ll have much more developed architecture, we’ll have much better marketing…

We could very much see Bitcoin go through what I would call a super cycle. So a lot of people are predicting Bitcoin goes from $10,000 to $100,000 or $200,000 or $300,000.

Well, what happens when the whole world wakes up to Bitcoin’s value prop of being this decentralized store of value that’s not seizable? If socialism rises, if taxes rise, I could see tons of people flowing trillions and tens of trillions of dollars into Bitcoin, so Bitcoin might not just stop there, it could go to $1 million.” 

Held says 90% of his personal financial portfolio is in Bitcoin.

He says he definitely wouldn’t recommend that portfolio construction for most other investors, and the value of his BTC has grown exponentially through the years in relation to his traditional investments.

The Kraken executive also says he doubts blockchain technology is well-suited for any other application aside from powering the Bitcoin network.

“When we look at Bitcoin, a lot of people go, ‘How about this thing called blockchain? Couldn’t we take this tech called blockchain and repurpose it for everything? We’ll put a blockchain on the moon, we’ll put a blockchain on food, we’ll put blockchain on industrial stuff.’

You need to sprinkle it like Salt Bae, sprinkle some blockchain dust on it and it will magically give off some efficiencies. Satoshi purposefully built blockchain tech to build Bitcoin. Blockchain tech sucks. It’s terrible. It makes so many trade-offs to build Bitcoin that it is basically ineffective for almost anything else.”

In other trending Bitcoin News today:

Top Bitcoin (BTC) Strategist Proclaims Altcoin Season Has Arrived, Names Four Crypto Assets to Watch and One Ready to Retreat

Crypto analyst Nicholas Merten says he believes a new altcoin season has officially arrived.

On the latest episode of DataDash, Merten says that for the first time in two-and-a-half years, the collective altcoin market has broken through a key line of resistance against Bitcoin (BTC).

“We’ve obviously had a breakout here and the momentum has been building up here. We talked about this for the last few weeks to watch out for this and we finally have gotten it… 

For this to continue climbing, what are we really going to need here? Is it going to be a lot of small-cap plays?

“In the short term, we need to start seeing some of the large-caps move. I’m talking about Etherium, Litecoin –some of these larger, more established cryptocurrencies, to really solidify the breakout…

The monthly [chart] has been signaling this since back here in September when ETH set its last low.”

Merten is particularly bullish on iExec (RLC), Chainlink (LINK), Cosmos (ATOM), and REN, but he thinks that Cardano (ADA) is headed for a pullback after sustaining a huge rally from about 2 cents in March to a high of 13 cents on Tuesday.

“We can see here that in the short term ADA is a little bit overextended. It’s had a great rally here so it might be time for it to play a little bit of catch-up.”

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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:

Forex Analyst Explains Why Chainlink Price Could Surge 80% Higher