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Within Bitcoin, the word on everyoneâs lips is âEl Salvador.â President Nayib Bukele formally announced that he would send a bill to parliament to make BTC legal tender. Should it succeed, El Salvador would be the first nation on Earth to do so, effectively adopting something akin to a âBitcoin standard.â
Now a politician from Paraguay (Carlitos Rejala) has posted a laser eyes photo and promised a Bitcoin announcement this week. Just as we saw MicroStrategy start the domino effect for public companies, El Salvador will likely be a catalyst for other countries.Â
For Caitlin Long, founder and CEO of Avanti Bank, there may be bigger forces at play. âBitcoin is hacking dictatorships, just like itâs hacking big tech. Bitcoin doesnât care WHY El Salvadorâs president wants to make BTC legal tender â it doesnât matter. Bitcoin already put Jack (Dorsey) on defense about Twitter censorship (he announced a decentralized version is coming).â
In other trending Bitcoin News today: You Will Never Have To Sell Your Bitcoin, According to Tyler Winklevoss â Hereâs Why! Gemini CEO and Bitcoin billionaire Tyler Winklevoss is telling investors that there will come a time when Bitcoin holders will not have to sell their BTC holdings, ever.
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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.
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Mike McGlone Calls Major Bitcoin Breakout | At This Rate Grayscale Will Own 3.4% of ALL BTC by January
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
Bloomberg Intelligence commodity strategist Mike McGlone says Bitcoin is set for a major breakout, with the leading cryptocurrency targeting $13,000 in the near term.
McGlone says he expects weeks of consolidation to end as Bitcoinâs volatility hovers at a level where big breakouts tend to erupt.
âBitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance â The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold.â
In other trending Bitcoin News today:
At This Rate Grayscale Will Own 3.4% of All Bitcoin by January
Grayscale Investments has added 19,879 BTC to its Bitcoin Trust in the last week, purchasing Bitcoin faster than the tokens can be mined.
Grayscale Investments has purchased almost half a billion dollars in Bitcoin since the May block reward halving, and this week bought BTC around three times faster than miners could produce blocks.
According to a June 25 tweet from crypto analyst Kevin Rooke, the investment firm bought 19,879 Bitcoin (BTC) â $184 million worth â in the last week for its Bitcoin Trust, bringing its total number of coins to roughly 400,000.
âUnbelievable. Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving). Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving). Thatâs almost 400,000 BTC under management for $GBTCâ
Rooke stated that not only is Grayscale buying massive amounts of the cryptocurrency, but itâs now doing so at a rate roughly 280% of the new Bitcoin mined.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:
Unbelievable.Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving).Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving).
That’s almost 400,000 BTC under management for $GBTC pic.twitter.com/aMtSGHZnz2
â Kevin Rooke (@kerooke) June 25, 2020
#Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance â
The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold. pic.twitter.com/2CqGEx95JSâ Mike McGlone (@mikemcglone11) June 26, 2020
Coinbase Will Now Pay You to Learn About These Five Altcoins
https://cointelegraph.com/news/at-this-rate-grayscale-will-own-34-of-all-bitcoin-by-january
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BITCOIN IS HEADING TO $500K SAYS GALAXY DIGITALâS MIKE NOVOGRATZ – HEREâS WHEN!! BTC HITS NEW ATH!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalertsâ
Mike Novogratz, CEO of crypto management firm Galaxy Digital, is revealing when he thinks Bitcoin will hit his target of $500,000.
In a discussion with Michael Saylor on the WORLD.NOW event hosted by MicroStrategy, Novogratz proposes that Bitcoin will continue to perform well, more so as a store-of-value asset rather than as a currency.
âI think weâve hit a tipping point in this network effect I talked about, and my base case is: if I look at Bitcoin as a percentage of gold, I think Bitcoin is going to be digital gold. I know a lot of people disagree with me. Theyâll think, âNo, it going to be money. Itâs going to be the blockchains of all blockchains,â I just donât think so. I think itâs got a beautiful lane as a store of value. It was perfectly designed as a store of value.â
Seeing it as a store of value asset, the Galaxy Digital head says he believes the largest crypto asset will continue to catch up to goldâs $10 trillion market capitalization as it prints gains of over 10x in as little as three years.
âI think of it as, âWhat percentage of market cap is gold?â Weâre about 6% of the gold market cap. My sense is by the end of the year we are easily 10%. So that gets you to Bitcoin $55,000-$60,000. I know as soon as we get to 10%, weâre going to say, âWell why 10? Why not 20?â And when we get to 20%, weâre going to be 50%, and then weâre going to be 100%.
So I would be $60,000 end of this year, and Iâm $500,000 probably like 2024-2025⊠It doesnât happen overnight. It happens with more and more education, with more and more seminars like this, with more and more communities buying into the idea.â
In other trending Bitcoin News today:
Roses Are Red, Violets Are Blue, Bitcoin Hits $49K And A New All-Time High Too
The Bitcoin price achieved a new record above $49,500 on Valentineâs Day on Feb. 14, rising to as high as $49,600 on Coinbase.
There are three main reasons Bitcoin surged to a new all-time high, high stablecoin inflows, clean break of the $38,000 resistance area, and a prolonged consolidation phase.
Throughout the past several days, despite Bitcoinâs consolidation below $38,000, on-chain analysts pinpointed the continuous increase in stablecoin inflows.
According to data from CryptoQuant, a data analytics platform, the Stablecoin Supply Ratio (SSR) rose significantly as it rallied from the mid-$30,000 region.
The SSR indicator shows the ratio of the market cap of Bitcoin relative to the aggregated market cap of stablecoins.
When the price of Bitcoin rises in tandem with the SSR ratio, then it means it is likely being driven by sidelined capital re-entering the market.
This trend is highly optimistic because it shows that the rally was not just driven by an over-leveraged futures market. In fact, it was genuine demand from the spot market that led the uptrend.
Atop the high stablecoin ratio, analysts also pinpointed the decline in selling pressure coming from miners.
The combination of the lower selling pressure from miners and the increasing stablecoin inflows into exchanges catalyzed the ongoing Bitcoin rally.
Bitcoin was consolidating under the $38,000 resistance area for a prolonged period. This presented a risk to the short-term bull cycle of Bitcoin.
When the price of Bitcoin hovers under a key resistance area for a long time, it increases the probability of BTC dropping to a lower support area to tap lower liquidity.
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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:
After the Bitcoin halving in May 2020, miners make half the $BTC they used to make.
Today, miners earned $4m in 1 hour, making it the biggest hourly revenue in history. h/t @glassnode
That’s how fast BTC has risen in the span of 9 months.
â Joseph Young (@iamjosephyoung) February 12, 2021
https://www.theblockcrypto.com/linked/94750/jpmorgan-bitcoin-btc-trading-client-demand-coo-comments
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INVESTMENT FIRM PREDICTS BITCOIN TRILLION MARKET!! XRP WILL RISE 12,900% IN NEXT BTC BULL CYCLE!!
âĄïž Leverage OPM (Other Peopleâs Money): http://opm.cryptonewsalerts.net
An investment firm that predicted Teslaâs meteoric ascent is extremely bullish on Bitcoin and says the BTC market cap could go as high as $5 trillion.
Also in todayâs show, Credible Crypto predicts the Ripple XRP price will rise 12,900% in the next Bitcoin bull cycle.
In a comprehensive report, New York-based thematic investment firm ARK Invest sees massive growth potential for Bitcoin over the next few years despite its already impressive run that has defied expectations.Â
âOur analysis suggests Bitcoin is early on its path to monetization, with substantial appreciation potential. In our view, Bitcoinâs $200 billion market capitalization â or network value â will scale more than an order of magnitude to the trillions during the next decade.â
Specifically, ARK Invest points out that the adoption of Bitcoin as a global settlement network, as a protection against asset seizure, as digital gold, or as a catalyst for demonetization in emerging markets has the potential to fuel the growth of the crypto assetâs market cap.
Despite their high evaluation of the crypto asset, ARK Invest points out the several risks that threaten Bitcoinâs growth potential.
For one, ARK Invest says security breaches and institutional mismanagement have cost investors millions of dollars with no legal recourse.
Other risks are regulatory uncertainty and âover-institutionalizationâ, which the company says could cause a monopoly in Bitcoin transactions and present an âexistential risk to bitcoinâs value proposition.â
Although risks are present, ARK Invest highlights the potential of BTC to print massive gains within a decade.
âBitcoin offers one of the most compelling risk-reward profiles among assets, as our analysis suggests it should scale from roughly $200 billion today to $1-5 trillion network capitalization during the next five to ten years. In our view, capital allocators must consider the opportunity cost that will be associated with ignoring bitcoin as a new asset class.â
In other trending Bitcoin News today:
Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle
Closely-followed trader and crypto strategist Credible Crypto sees XRP meteorically rising by over 12,900% in the next Bitcoin boom cycle.
In a new tweet, the crypto analyst tells his 68,000 followers that Rippleâs native token has the potential to massively increase oneâs net worth in the coming years.
âKeep it real. XRP price IS NOT âpre-determined.â XRP IS NOT âbacked by gold.â XRP WILL NOT reach the prices BTC has ($10,000+). XRP will NOT replace the dollar. But it doesnât need to do ANY of these things to make you and me life-changing money over the next 3 years.â
When asked to provide his price prediction for the fourth-largest cryptocurrency, Credible explains why he believes XRP can skyrocket between $20 â $30 before the current bull market expires.
ââŠitâs gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their XRP for other projects. The ones holding now wonât sell soon.â
Not all analysts share Credibleâs long-term bullish attitude towards XRP. Widely-followed veteran trader Peter Brandt told his crew of 375,000 to be cautious about investing in Rippleâs native asset.
âDonât place your faith in XRP.â
Brand notes that Rippleâs ownership of more than half of the total supply of XRP is a potential liability.
He believes the token has more downside potential as it continues to underperform relative to other major cap coins.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Keep it real.$XRP price IS NOT âpre-determined.â $XRP IS NOT âbacked by goldâ. $XRP WILL NOT reach the prices $BTC has ($10,000+).$XRP will NOT replace the dollar.
But it doesnât need to do ANY of these things to make you and me life changing money over the next 3 years.
â Credible Crypto (@CredibleCrypto) October 2, 2020
It wonât need as much as it seems it would. Many people think the same. But itâs gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their $XRP for other projects. The ones holding now wonât sell soon. https://t.co/jelsS4rTdc
â Credible Crypto (@CredibleCrypto) October 2, 2020
Don’t know about the long long term, but looking for $20-$30 over the course of this next bull run (2-3 years).
â Credible Crypto (@CredibleCrypto) October 2, 2020
Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle
https://cointelegraph.com/news/trump-price-dots-and-covid-19-5-things-to-watch-in-bitcoin-this-week
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