BITCOIN NOW TARGETING $100K, PREDICTS VETERAN TRADER – HERE’S HIS TIMELINE! EL SALVADOR BUYS BTC DIP

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Bitcoin will surge 115% from current levels to $100,000 either late this year or early next year, and could reach $175,000 per BTC in the long term, Standard Chartered’s cryptocurrency research team has forecast.

The bank’s team said it “structurally” values bitcoin between the range of $50,000 to $175,000. “Cyclically, we expect a peak around $100,000 in late 2021 or early 2022,” they said in a note Tuesday.

It also sees the current price of Ethereum’s native token ETH rising tenfold to between $26,000 to $35,000. No time period was specified for the price target.

In other trending Bitcoin News today: SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies.

The United States Securities and Exchange Commission, or SEC, has approved the Volt Crypto Industry Revolution and Tech ETF, providing investors with easy access to companies with significant exposure to Bitcoin (BTC).

The exchange-traded fund, which was approved on Tuesday, is intended to track so-called “Bitcoin Industry Revolution Companies,” which are defined as entities that hold a majority of their net assets in BTC or derive a majority of their earnings from Bitcoin mining, lending or transacting, according to an SEC filing.

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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://markets.businessinsider.com/news/currencies/bitcoin-ether-crypto-price-outlook-standard-chartered-100000-early-2022-2021-9

https://cointelegraph.com/news/sec-approves-volt-equity-etf-providing-exposure-to-bitcoin-centric-companies

https://cryptopotato.com/heres-why-bitcoin-soared-35-in-days-according-to-jp-morgan/

https://cointelegraph.com/news/btc-price-hits-56k-as-bulls-return-and-talk-focuses-on-bitcoin-etf-approval

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Crypto analyst and Bitcoin bull Moon Capital recently went on an epic tweet storm sharing his bullish case on why a $1,000,000+ BTC price is nearly inevitable.

“1/ “BUT THEY WILL BAN BITCOIN.” Let me quickly explain why this threat is HIGHLY overestimated and why it is NOT possible or even reasonable. $1,000,000+ Bitcoin is nearly inevitable.”

In other breaking Bitcoin News today:

“3 Reasons Bitcoin Price Just Hit $16,000 For The First Time Since 2017”

The price of Bitcoin (BTC) surged past $16,000 today, Nov. 12, for the first time in nearly three years.

The momentum of the dominant cryptocurrency is strengthening due to three key major factors.

The main catalysts behind BTC’s rally are the non-overheated derivatives market, repeated retest of $16,000, and the $14,900 whale supply zone.

On Nov. 10, the price of Bitcoin abruptly declined to as low as $15,072.

The market drop occurred merely 24 hours after it saw another major dip to $14,805, which turned traders cautious.

But the drop benefited Bitcoin for two key reasons. First, it allowed whales to take profit on their positions at around the $15,000 support level.

Second, it neutralized the futures market by flushing out late buyers or long contract holders.

Resetting the futures market and the funding rate for Bitcoin futures contracts was critical for sustaining the ongoing BTC rally.

Futures exchanges in the cryptocurrency market use a mechanism called “funding” to achieve balance in the market.

When the majority of the market is buying Bitcoin, buyers need to incentivize short-sellers.

The vice versa is also true: When shorts make up most of the market, sellers need to pay buyers.

Prior to the drop on Nov. 10, the funding rate of BTC was hovering above 0.01%.

This indicated that the market was heavily longing or buying Bitcoin, making it overcrowded.

After the minor correction to the $15,000 support level, BTC futures contracts neutralized as funding rates stabilized.

Even until late Nov. 11, the $16,000 area served as a heavy level of resistance for Bitcoin.

Traders pinpointed the presence of large sell orders at the resistance, indicating that whales are likely targeting this level.

In other trending BTC News today:

“Deutsche Bank: Central Bank Digital Currency Will Replace Cash In Long Term”

Deutsche Bank, the largest banking institution in Germany, is confident that central bank digital currencies, or CBDCs, will replace cash in the future.

The bank’s research arm, Deutsche Bank Research, published a new report on economic estimations and proposals to assist global economies hit by the coronavirus pandemic.

Titled What We Must Do to Rebuild, the new edition was released on Nov. 10. In the report, Deutsche Bank states that the ongoing COVID-19 pandemic has accelerated the “digital cash revolution.”

According to the bank, this revolution will eventually enable CBDCs like China’s digital yuan or Sweden’s e-krona to replace cash in the long term.

Deutsche Bank called on national governments and private companies to work on alternatives to credit cards, stating:

“Worldwide lockdowns and social distancing measures have only increased the use of cards over cash. To respond, companies and policymakers must design alternative to credit cards and remove middle man fees. […] For now, the priority must be on regional digital payment systems. In the long term, central bank digital currencies will replace cash.”

In the report, Deutsche Bank Research also warned European policymakers about the risks of not developing their own digital currency project in response to China and Sweden’s active progress in the field.

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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:

1/ “BUT THEY WILL BAN BITCOIN.”Let me quickly explain why this threat is HIGHLY overestimated and why it is NOT possible or even reasonable.

$1,000,000+ #Bitcoin is nearly inevitable.

— Moon Capital 🔑 (@Moon__Capital) November 11, 2020

Yearly #Bitcoin returns2010: 𝟵,𝟵𝟬𝟬%2011: 𝟭,𝟰𝟳𝟯%2012: 𝟭𝟴𝟲%2013: 𝟱,𝟰𝟴𝟭%2014: -𝟱𝟳%2015: 𝟯𝟰%2016: 𝟭𝟮𝟯%2017: 𝟭,𝟯𝟲𝟴%2018: -𝟳𝟯%2019: 𝟵𝟮%2020: 𝟭𝟮𝟭% (so far)

Only negative years are after a bull run 🐂

— Danny Scott (@CoinCornerDanny) November 12, 2020

Green circle denotes where we are in this macro cycle. Start of the main bull run (in case it isn’t already obvious).BTC’s on-chain Relative Strength Index is just warming up.

Red verticals are the halvenings, providing the bullish supply shock impulse. pic.twitter.com/HudOgAAezv

— Willy Woo (@woonomic) November 11, 2020

https://cointelegraph.com/news/3-reasons-bitcoin-price-just-hit-16-000-for-the-first-time-since-2017

https://cointelegraph.com/news/deutsche-bank-central-bank-digital-currency-will-replace-cash-in-long-term

https://cointelegraph.com/news/bitcoin-price-peak-in-december-2021-as-main-bull-run-begins-willy-woo

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Real Vision Finance co-founder Raoul Pal says a $1 million price tag on Bitcoin could be in the cards for this BTC bull cycle.

In an interview with Peter McCormack on the What Bitcoin Did podcast, the former Goldman Sachs executive says that the seven-figure mark is his peak bull cycle target for the flagship cryptocurrency if the BTC chart goes parabolic to the extent it has in previous cycles.

“I’ve peaked at a million but not for this cycle, but it’s possible that we overshoot. So I just use the regression line and used the trend of the [logarithmic] scale, and basically it says somewhere between PlanB’s [stock-to-flow model prediction] and $400,000 is right, but it could actually hyperextend to get as high as it did from the trend in 2013 which would give us $1 million. So I think it’s skewed slightly higher than people expect so I don’t think it gets to $1 million but we’ve got institutions coming in, who knows how this dynamic changes.”

The macroeconomics expert foresees some key hurdles that Bitcoin will have to overcome in its path towards its cycle top, including Coinbase’s initial public offering (IPO).

“The other thing for people to bear in mind is that there’s a couple of price hurdles that are coming up that people haven’t thought through. The first one is Coinbase’s IPO. If you are an institution who wants to buy Bitcoin and you’ve got to get through all this rigmarole to get it signed off and the Coinbase IPO comes out and it’s a $60 billion company, and you can stick a few billion in, it’s a good enough proxy for a while. So my guess is that it’s going to take out a lot of demand from institutions in the short term.”

Pal also highlights a key level as a potential psychological price barrier where many BTC investors will choose to take profits.

“The next big thing after that, I think $100,00 is going to be an issue because a lot of people got in at around $10,000. A lot of people have made 10 times their money and $100,000 is a round number, and people think, ‘Let me take half my chips off the table’ so I think we might see a longer correction.”

Pal predicts Bitcoin will reach that $100,000 range this June, a level where he expects a lot of profit-taking to happen.

In other trending Bitcoin News today:

Bitcoin Price Rally to $61,800 Shows BTC Bulls Are In Full Control

On March 13 bulls took full control of the crypto market as Bitcoin (BTC) price vaulted to a new all-time high at $61,844 after a high volume surge pushed the price through overhead resistance near $58,000.  

Analysts had spent the week calling for an eventual move above the $60,000 level and social metrics showed bullish sentiment for Bitcoin continued to increase as a number of companies and institutional investors announced plans to make BTC purchases. 

Bitcoin now finds itself in the realm of price discovery as there is limited data available from a technical analysis standpoint to determine where the price may go next.

One possible price target was highlighted in a recent report from Decentrader co-founder Philip Swift, who is now looking at the 1.618 fib extension ($70,000) as the next take profit level.

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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:

💥💥💥 “The people that lost a lot of wealth in 2008, primarily people of color are now getting raked over the coals again through this inflationary pass at their assets. Again, remember #bitcoin is unconfiscatable…” – @MaxKeiser

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) March 13, 2021

Russell Okung announced in December he was converting half of his $13M salary into Bitcoin.Bitcoin was $27,000.

Now, with the price at $61,000, @RussellOkung turned his $13M annual salary into over $21M.

This increase makes Okung one of the 30 highest-paid NFL players today. pic.twitter.com/xXX970Ng8H

— Joe Pompliano (@JoePompliano) March 13, 2021

They only reason that you think $61k per #bitcoin is expensive is that you haven’t seen $610k per #bitcoin. If you had, you’d think $61k is a deep discount. If you make decisions based on past prices you’re going to make mistakes, instead look at the fundamental value of #bitcoin

— Pierre Rochard (@pierre_rochard) March 13, 2021

https://cointelegraph.com/news/bitcoin-price-rally-to-61-800-shows-btc-bulls-are-in-full-control