BITCOIN IS HEADING TO $5 MILLION!! PLAN B EXPLAINS HIS LONG-TERM BTC PRICE PREDICTION!!

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Bitcoin still gets criticized for being too volatile, but one Bloomberg analyst believes that BTC is conversely becoming a “risk-off” choice for investors.

In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency and that a $400,000 Bitcoin price would ‘rhyme’ with history.

McGlone uploaded a chart of the BTC/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use.

“Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view,” he wrote.

A potential price peak this year, with previous behavior as context, could be as much as $400,000 per bitcoin, the chart shows. This dwarfs other estimates, such as that of stock-to-flow, which calls for an average of $288,000 between now and 2024.

While McGlone did not provide exact details of the factors behind Bloomberg’s view, the idea of Bitcoin reducing, rather than increasing portfolio risk is the talking point of the year among corporates. New reports of treasury allocations to BTC appear frequently, with appetite unfazed by price action.

“My mission right now is to fix the balance sheets of the world,” Michael Saylor, CEO of MicroStrategy, one of the largest Bitcoin treasury investors, said in an interview with TIME this week.

In other trending Bitcoin News today:

Here’s How Bitcoin Dolphins, Sharks and Whales Are Playing the Crypto Markets, According to Top Analyst Willy Woo

On-chain analyst Willy Woo is providing his take on how large Bitcoin (BTC) holders are attacking the market.

As Bitcoin takes a dive to the low $50,000 range this week, new crypto whales are entering the market, according to Woo.

“Some bearish scares over whales selling down, here’s more complete picture. Chart: BTC held by dolphin/shark/whales (100-10,000 BTC).

Whales becoming dolphin/sharks, new buyers coming in, cohort is still accumulating, they usually sell in the middle of the bull run. Still bullish.”

Woo points out that although it may appear as though whales have been parting with their BTC at an alarming rate causing the recent sell-off, the Bitcoin being sold on the market are newer supplies likely held by entities that are taking profits after the largest crypto asset’s huge run up.

“This is a new species of whale; hedge funds. Likely selling down for end of quarter rebalancing after such a good run from $10,00 BTC last year. Doesn’t look like the typical OGs selling (which they do on every bull season rally). The coins being sold lately are relatively young.

Bitcoin addresses are forensically clustered into wallets held by individual participants before extracting this view. Beware that looking at just raw address balances, which I’ve seen posted elsewhere can be misleading.”

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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:

#Bitcoin in Transition to Risk-Off Reserve Asset: BI Commodity — Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view. pic.twitter.com/Ycr1LSqEAJ

— Mike McGlone (@mikemcglone11) March 26, 2021

A Tesla is the new pizza

10 years from now people will be amazed that someone spent a whole #Bitcoin for a Tesla

— Max Keiser (@maxkeiser) March 25, 2021

Law of averages gives #Bitcoin an $83,000 price target for April.

Avg over 10 years in April +51%

— Danny Scott (@CoinCornerDanny) March 27, 2021

Pizza Day 2.0: Buying A Tesla With Bitcoin Could Be A Mistake

https://cointelegraph.com/news/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg

https://cointelegraph.com/news/stock-to-flow-creator-doesn-t-think-bitcoin-s-bull-market-is-done

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

The American billionaire Tim Draper – shared with CNBC his bullish view on the future value of Bitcoin, predicting the BTC price will reach $250,000 by the end of 2022, despite the volatility in the crypto market. He further opined that the primary cryptocurrency would be the core of all financial activities for the next 20-30 years.

Additionally, Draper said numerous large companies would follow the example of Microsoft, Starbucks, PayPal, Home Depot and accept Bitcoin as a means of payment: ”Give it about a year and a half and retailers will all be on Opennode [BTC payment processor], so everybody will accept bitcoin.”

In other trending Bitcoin News today: Macro Guru Raoul Pal Says He’s Betting on These Emerging Crypto Assets! 

“I started layering into more macro bets on where I thought the space was going. So trying to be more intelligent than just a basket, I’ve still kept the basket, but my bets are moving towards the metaverse and social tokens, and community tokens, which I think are going to be a huge, huge disruptive business model, and I think the metaverse is where everything going. So that’s kind of how I’ve played it. Now, I’m roughly 25% Bitcoin, 55% Ethereum, and 20% in all the other stuff.”

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

Ledger: ► http://ledger.cryptonewsalerts.net

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/everybody-will-accept-bitcoin-and-its-price-will-reach-250k-in-2022-says-tim-draper/

Macro Guru Raoul Pal Says He’s Betting on These Emerging Crypto Assets

https://cointelegraph.com/news/98-of-cfos-say-their-hedge-fund-will-invest-in-bitcoin-by-2026-study

https://cointelegraph.com/news/new-bitcoin-bull-market-hodlers-are-refusing-to-sell-at-40k-data-suggests

➡️ TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net

With the infamous Bitcoin Halving now less than 8 days away, BTC is approaching the most eagerly anticipated moment in its history, and markets are feeding the excitement after weeks of gains.

Bitcoin is just days away from a historic crossroads this week — what will the coming days have in store for traders and hodlers?

Let’s take a look at the major factors influencing the Cryptocurrency market just over a week before Bitcoin’s third block reward halving.

This immediate 50% drop in supply should have considerable knock-on effects for demand, especially taken against the historical precedent of the previous two halvings.

The impact is neatly summarized by Bitcoin’s stock-to-flow price model, which suggests that major price movements should come 1-2 years after the halving.

Bitcoin continues to exhibit some copycat price behavior which tracks movements on major stock markets. 

As of Sunday, futures for the S&P 500 and Dow Jones among others were tanking 3%, which soon translated into a fresh price dip for BTC/USD.

At press time, the pair traded at around $8,700, down 3.7% on the day, having bounced off support at $8,500. 

Coronavirus continues to weigh on sentiment, as the United States and China spar over the pandemic’s origins and handling, sparking trade fears.

Bitcoin’s network fundamentals remain on an upward trajectory despite mixed price action.

Hash rate and difficulty are hovering near all-time highs.

The difficulty is set to increase by a modest 1.4% on May 5 and will be the last such increase before the halving seven days later.

The two aspects of Bitcoin go hand in hand for analysts, as Bitcoin’s automatic difficulty adjustment mechanism prevents manipulation of supply rate, regardless of how much BTC is worth in fiat terms.

In other trending Bitcoin News today:

Same Trend That Marked Start of Bitcoin’s $10,000 Run In 2019 Is Back

After a nearly 20% surge last week, Bitcoin’s weekly candle on Sunday evening closed decisively green at $8,900.

This marked the seventh consecutive weekly gain for BTC, which has posted stellar performances ever since the mid-March capitulation lows.

Although the seven consecutive weeks may mean nothing to readers, it is a strong technical occurrence that may signal that even more upside is on the table for the months ahead.

Zack Voell, a market analyst at CoinDesk, recently noted that Bitcoin closing its seventh consecutive weekly gain hasn’t happened since April 2019, when the last bear market ended.

This would suggest that should history repeat itself, the cryptocurrency is on the verge of yet another bull run.

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

Ledger: ► http://ledger.cryptonewsalerts.net

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-Mex funding+premium index still negative-Above the yearly vwap -Above the 200 DMA -Bullish 1D cloud-Halving in 10 days

You might not call and short THE top but you’ll save yourself a lot of potential headaches by just waiting for a break in 1D market structure.

— HornHairs 🌊 (@CryptoHornHairs) May 2, 2020

Same Trend That Marked Start of Bitcoin’s $10,000 Run In 2019 Is Back

https://cointelegraph.com/news/halving-stocks-fundamentals-3-things-to-watch-in-bitcoin-this-week