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

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Conservative predictions of Bitcoin say the cryptocurrency will reach $100,000 by 2023. 

Some experts are more bullish. The most knowledgeable analyst in the space are predicting $100,000 BTC in Q1 or Q2 of 2022, or even sooner as predicted by quant analyst Plan B: 

“I guess we will be above $100,000 [or] above $135,000 at the end of the year, and we’ll continue to grow maybe towards the S2FX model targets, $288,000 or even above. I would not be surprised even to see in Q1 or Q2 next year, prices of $300,000, $400,000, $500,000…” 

In other trending Bitcoin News today: $33.5 billion worth of ETH ‘trapped’ in largest Ethereum contract!

The single largest Ethereum contract containing 8,641,954 Ether (ETH) worth $33.5 billion is sitting idle because it cannot be spent or sent.

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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://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-predictions/

https://cointelegraph.com/news/33-5-billion-worth-of-eth-trapped-in-largest-ethereum-contract

https://cointelegraph.com/news/bitcoin-sheds-dumb-money-as-retail-buys-most-btc-since-march-2020-crash

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With the next Bitcoin Halving now less than 7 hours away, these are very exciting times for the Crypto market.

Just 72 hours ago, BTC was trading at $10,100, but the cryptocurrency has since sustained a strong drop leading into the BTC halving.

This culminated on Saturday evening and Sunday morning, when the Bitcoin price crashed from the $10,000 highs to $8,100 within the span of a few hours.

It was a strong drop that liquidated over $200 million worth of long positions on BitMEX. Bitcoin’s stark reversal from the highs has convinced many of a bearish case.

One prominent trader that last year predicted BTC’s 2019 bottom of $6,400 said that he expects yet another move to $6,400.

Though a market study by Market Science, a cryptocurrency data analytics and market research firm, has confirmed that such a drop may not happen.

Their study indicates that there’s a 77% chance Bitcoin trades at $10,000 within the next week. Because the Chicago Mercantile Exchange’s Bitcoin futures don’t trade on weekends, there are normally “gaps” formed on the charts on every Monday morning.

The crypto market is 24/7, meaning that from the CME close on Friday to the open on Monday morning, there can be volatility that creates such gaps.

Just today, Bitcoin formed a record $1,265 gap, as a top trader noted. This was formed because the Friday price action on the exchange closed at ~$10,000 while the Monday price action opened at $8,785.

It’s a potentially bullish sign for the Bitcoin market, a market study has suggested. Published on December 30th of last year, crypto research firm Market Science found that 77% of CME gaps fill, meaning price touches each portion of the gap, “in the subsequent week” after the gap forms.

The gap isn’t the only sign indicating Bitcoin will undergo a bullish reversal, analysts suggest.

One popular trader shared the chart below, indicating that there are remarkable similarities between Bitcoin’s price action for all of 2020 and that of the past three days: both periods have a four-phase distribution top, a capitulation crash, then a rapid recovery from the lows.

The fractal playing out in full, the trader suggested, will result in BTC returning to $10,000 in the coming two to three days.

In other trending Bitcoin News today:

Why Satoshi Nakamoto Created the Bitcoin Halving

The dwindling Bitcoin mining rewards are a central piece of Satoshi’s method for allowing new BTC to enter the supply and ensuring that supply doesn’t outpace demand, all the while carefully controlling and mitigating the effects of inflation.

He addressed the topic in an exchange with the late bitcoin pioneer Hal Finney via email back in 2008.

“The fact that new coins are produced means the money supply increases by a planned amount, but this does not necessarily result in inflation. If the supply of money increases at the same rate that the number of people using it increases, prices remain stable.

If it does not increase as fast as demand, there will be deflation and early holders of money will see its value increase. Coins have to get initially distributed somehow, and a constant rate seems like the best formula.”

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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:

While price moves more sideways, this creates an environment where large leverage traders have an easier time strategically liquidating the bulk of traders from their positions. Like the cascading 4k->14k short squeeze of 2019. Equals more volatility.https://t.co/cBaDPzmZjQ

— Willy Woo (@woonomic) May 9, 2020

Why Satoshi Nakamoto Created the Bitcoin (BTC) Halving

Market Study: There’s a 77% Chance Bitcoin Trades At $10,000 This Week

https://marketsscience.com/gap_study.html

https://bitcoinblockhalf.com/

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DARING ANALYST CALLS BITCOIN CRASH TO $2.4K SOON

With market data showing a range of conflicting signals, one analyst has now made a bold prediction that the BTC price will soon see its largest collapse in over a year.

Whereas investors should consider all possibilities, such a bold assumption is certain to be controversial.

This claim of a possible major drop comes from The Moon who has tweeted: “Possible Bitcoin bear flag on the 4-hour chart. The target will be approximately $2,400 if the bear flag support breaks.”

He bases his argument on the four hour price chart, which clearly indicates a bear flag, yet does not necessarily coincide with other timelines. It is worth noting, however, that The Moon also successfully predicted the Bitcoin price drop which took place on March 12th.

Given the heightened volatility over the past few weeks, Bitcoin (BTC) analysts have come out with a range of predictions. It is thus difficult to know which data is most telling of the market’s next moves.

The most basic indicators signal continued price swings in the short term, yet a stronger recovery over the next few weeks.

Many conclusions can be reached using chart data alone, which is why other market considerations should be examined when making BTC price predictions.

There are presently no shortage of larger indicators that analysts have been using to emphasize Bitcoin’s remarkable potential for big gains.

These include the impending block reward halving, a significant increase in overall blockchain activity, and an increasing interest in using Bitcoin as a financial safe haven.

Bitcoin continued to trade near $7,000 on March 27 after traditional markets showed bullish signs and the Dow Jones had its best day in 87 years.

Having preserved support at the lower end, Bitcoin saw its third consecutive day above $6,000 as coronavirus misery appeared to abate for some parts of the world’s financial system.

They were building on the success of the Dow, which on Wednesday saw its biggest one-day growth since 1933 at 20%.

For the Wall Street Journal, this was even enough to call a bull market.

That, in turn, followed an announcement from the United States Federal Reserve to print unlimited amounts of money, something which immediately pumped markets but rattled Bitcoin proponents.

While Bitcoin continued to fluctuate, data suggested that traders were not in the mood to sell — according to monitoring resource Glassnode, exchange balances were at an eight-month low as of Thursday.

“Despite the volatility, Bitcoin holders appear to be withdrawing their funds from exchanges. Outflow has been increasing daily since March 18,” the company summarized on Twitter.

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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:

Breaking: A new bull market has begun. The Dow has rallied more than 20% since hitting a low three days ago, ending the shortest bear market ever. https://t.co/06YS0XqWGP

— The Wall Street Journal (@WSJ) March 26, 2020

Daring Analyst Calls Bitcoin Crash to $2.4K Soon

https://cointelegraph.com/news/bitcoin-price-holding-65k-as-media-calls-new-bull-market-in-stocks