BITCOIN ON TRACK TO HIT $350K BY YEAR-END, WITH CHANCE OF $1M BTC IN EXTENDED CYCLE, SAYS MACRO GURU

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A BITCOIN BULL SIGNAL JUST APPEARED!

As first spotted by a prominent BTC commentator, the Hash Ribbons have just crossed bullish and printed a “buy” for the first time in a number of months.

The Hash Ribbons are an indicator that uses a short-term moving average and a long-term moving average of the hash rate. When the short-term moving average crosses above the long-term moving average, it’s seen as a bullish sign.

And when the opposite takes happen, it’s bearish.

The “buy” signal appearing per the Hash Ribbons is extremely notable for Bitcoin bulls.

As the chart below indicates, when the signal formed in 2016, Bitcoin proceeded to rally by over 4,000% in the year and a half that followed.

This has been further corroborated by digital asset investor and analyst Charles Edwards, who noted that each occurrence of the signal has preceded strong rallies in Bitcoin.

The bullish crossover and “buy” signal comes as the crypto mining industry has signaled that it is more healthy than ever.

Cryptocurrency data provider TradeBlock reported last week that the Bitcoin hash rate (seven-day moving average) has hit a new all-time high above 124 exahashes per second.

Bitcoin’s network difficulty will follow suit, according to analyst “PlanB”:

“Despite death spiral FUD, miner capitulation FUD, future manipulation FUD, corona, PlusToken FUD, Tether FUD, whales selling FUD etc… BTC just had its third-best quarterly close ever ($9.1K) and is heading for difficulty ATH Monday (17E12).”

This is bullish for the Bitcoin price, according to Edwards.

Edwards published a price model in December 2019 revealing that the energy consumption levels of the Bitcoin network correspond with price action.

His latest so-called “energy value” analysis implies a rally to $12,800 will take place in the months ahead.

In other trending Bitcoin News today:

Max Keiser On How He Bought BTC For $1 In 2011 And Why Bitcoin Is Like The Mona Lisa

CryptoPotato recently had the chance to interview Bitcoin Pioneer Max Keiser, where he said that his first Bitcoin purchase was in 2011 and compared the asset to one of the most famous artworks in the world – The Mona Lisa.

Talking about the current US and global economic situation, and more specifically, COVID-19’s role in it, Keiser said that the virus is “nature fighting back against the virus of humans.”

He used the personification of the Earth from the Greek Mythology – Gaia – to add to his point, but concluded that he doesn’t “think ultimately she’ll win against the human virus.”

“Like Venezuela, Zimbabwe, and Iran, NASDAQ is higher as confidence in the USD collapses. Safe haven money is seeking shelter in stocks, gold, and Bitcoin.”

Keiser said that he heard about Bitcoin in 2011 and started accumulating at $1 at the time.

Keiser noted that BTC’s digital scarcity attracted him the most, as he “invented digital scarcity and commercial prediction markets in 1996.

BTC does what my patent does, but with incredible elegance. It’s the Mona Lisa of money. It’s self-aware, it’s observing us, and it’s channeling God.”

In another recent interview, Keiser asserted that only “gold, silver, and Bitcoin can save you now,” referring to the current events in which world governments are printing a lot of fiat to ease the pain from the COVID-19 pandemic.

Now, he doubled-down on his views, saying that “Bitcoin is a safe-haven asset that will rocket higher as fiat money collapses.”

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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:

Yes. I do think the Altcoin party will end very soon.I’m not looking for new trades– Dominance weekly support– BTC ranges for 70+ days– BTC volatility at lows only seen 4 times since 2017. These lows where followed up by 50-250% BTC moves.

– Q3 has been bearish historically pic.twitter.com/zk1z0AENVZ

— CryptoAmsterdam (@damskotrades) July 10, 2020

Bitcoin’s Rallied 4,000% After This Signal Flashed in 2016. It’s Back Again

https://cryptopotato.com/max-keiser-on-how-he-bought-btc-for-1-in-2011-and-why-bitcoin-is-like-the-mona-lisa-exclusive-interview/

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As Bitcoin takes out $11,000 and potentially aims higher, renewed talk of the BTC asset and its next potential peak has returned to the market.

Analysts do their best to do more than just speculate, backing up theories with fundamental statistics or technical signals to predict future prices.

But could it all be based on mathematics that’s been around for centuries? And if so, could Bitcoin’s next peak be at $270K?

Bitcoin price and what it will be some day is a regularly contested subject. Pundits pronounce the asset dead and claim it’s ready to go to zero.

Others, even the likes of billionaire venture capitalist Tim Draper believe it’ll be worth in the hundreds of thousands.

If Bitcoin follows the same exact trajectory as the last bull market, it is on track for a top at around $325K, top crypto experts have claimed.

However, each peak has brought investors diminishing returns, so it is reasonable to expect that peak to be lower than the last in terms of ROI.

But could an extremely simple mathematical pattern named after a mathematician born in 1170 perfectly predict each Bitcoin top?

If it is possible, the formula points to the next peak at $270K according to a chart shared by a leading cryptocurrency analyst.

The cryptocurrency has been peaking at each Fibonacci extension ending in “.272.” Fibonacci retracement and extensions are ratios based on Fibonacci sequence.

The next one above is the 4.272 extension, residing at roughly $270K.

Everything about Bitcoin is steeped in mathematics, so it shouldn’t be shocking that math itself is the key to predicting the crypto asset’s peaks.

The remaining piece of the equation is when this peak occurs.

The “when” is argued in the crypto market nearly as much as how much Bitcoin price will ultimately reach.

Believers in the stock-to-flow model expect the cryptocurrency to rip any day now into a new bull market, potentially making that peak a lot sooner than anyone is ready for.

In other trending Bitcoin News today:

Global Fiat Failure Will Push Countries to Accumulate Bitcoin, Says Max Keiser

Max Keiser, Wall Street vet and host of RT’s Keiser Report, says he believes countries will seek refuge in Bitcoin as fiat currencies fail on a global scale.

In a new installment of Blockchain Interviews, Keiser says the gold market won’t be able to satisfy a surging appetite for safe-haven assets.

“You work through the numbers and there’s just not that much [gold] around. If you needed to buy 300 tons of gold you’re not going to find it, not at the current price. It’s going to be like ‘Okay I’ll sell you 300 tonnes of gold but I’m going to sell it to you at $25,000 an ounce, you can have all you want at $25,000.’”

Keiser expects demand for truly scarce assets to push governments around the world to eventually come around and see the value of Bitcoin.

“So then we need hard money. I think that’s where you’re going to see these central banks turn to Bitcoin and sovereign wealth funds. They’ll be like, ‘Well this Bitcoin this has been around now for 11-12 years. It’s 99.9% fail-proof and it’s got everything we want in hard money.’

You’ll see countries start to accumulate Bitcoin and start to mine for Bitcoin as well, and then they’ll start to subsidize the money they would be subsidizing the energy industry in and subsidizing that in the Bitcoin mining space. So then the game theory kicks in. So, for example, Iran right now has something like 2% of the global hash rate of Bitcoin…”

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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:

Pretty words but no @michael_saylor type commitment to #Bitcoin on the balance sheet

American CEO’s are not getting the Big Picture about what’s happening with #BTC in countries like Nigeria with 30% hyperbitcoinization RIGHT NOW!

Let’s stop the posturing. Take action. https://t.co/mNIUgaOjEN

— Max Keiser (@maxkeiser) October 1, 2020

Crypto Calculated: How Ancient Math Predicts Bitcoin’s Next Top At $270K

https://cointelegraph.com/news/12k-bitcoin-price-back-on-the-table-after-btc-rallies-above-114k

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Crypto Analyst ‘Big Crypto Dave’ plotted his latest Bitcoin prediction chart which shows the BTC price right in alignment with PlanB’s $288,000 Stock-to-Flow model.

“Some might deem my support for the S2F chart as merely confirmation bias. They must not know of my education in macroeconomics and modern money mechanics. Every time I plot a bitcoin chart based on hardware & trend, it’s close to his 288k prediction.”

When asked on Crypto Twitter, “What’s your timeline? New ATH 2023? Do you agree that the cycles are getting longer?”

Big Crypto Dave responded…

“Q4 2021. Not really, need to see what happens this cycle for confirmation.”

In other trending Bitcoin News today:

5 Crypto Assets Have 100x Potential After Market Correction, Says Lark Davis

Crypto investor and influencer Lark Davis is naming five DeFi tokens that he believes are likely to exponentially rise after the current market correction is over.

Number one on Davis’s list is Akropolis (AKRO) which he says offers stellar DeFi products.

“Things like Sparta which allow you to take under-collateralized loans so the borrower only has to provide 50% of the collateral for the loan which is pretty damn cool. It also allows you to passively generate yield via integrated yield rebalancing to help you get maximum available APR from different DeFi protocols. 

The second product that they have on offer is called Delphi. Now this is a pool that allows for automatic dollar-cost averaging into Bitcoin and Ethereum as well as yield harvesting from different popular DeFi platforms.”

The next coin is Meta or mstable (MTA) which Davis explains is focused specifically on the stablecoin market.

“Mstable is a protocol that unites stablecoins, brings together lending, brings together swapping, all into one robust standard, basically allowing for unique savings options for stablecoins and trading for stablecoins with zero slippage.”

Davis says MTA has huge upside potential considering that the stablecoin market is growing so fast.

Number three on the list is Tellor (TRB) which Davis believes will become a major player in the oracle space, competing against the likes of Chainlink (LINK) and Band Protocol (BAND).

Although Tellor is down 65% in a little over a week, Davis predicts that one TRB will equal one Ethereum as he sees the crypto token being valued at $400 to $500 in the future.

Coming at number four is bZx Protocol (BZRX) which Davis labels as a “DeFi beast.”

“Token holders can stake their coins to get a cut of the fees on lending, on borrowing, and on trading across these different platforms that are part of the bZx protocol.”

While he says the token is down a whopping 60%, Davis believes that it is the most undervalued DeFi asset and could easily print a 10x growth.

Last on Davis’s list is Kava (KAVA) which he believes has the potential to be the next Maker DAO.

He says that Kava will be supporting Bitcoin before the year ends and that may serve as a major bullish catalyst for the crypto asset.

Davis also says now is an interesting time to enter positions on Kava as it is down 55% from two weeks ago.

The crypto analyst believes that Kava’s market cap will spike from $84 million to billions of dollars during this bull market.

Meanwhile, Lark Davis highlights that he owns some, but not all of the coins on the list and warns traders that anything can happen in the extremely risky and nascent market.

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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:

Some might deem my support for the @100trillionUSD S2F chart as merely confirmation bias. They must not know of my education in macroeconomics and modern money mechanics. Every time I plot a #bitcoin chart based on hardware & trend, it’s close to his 288k prediction. pic.twitter.com/PuYD7pO29d

— Big Crypto Dave (@Crypto_Dave_) September 6, 2020

https://ecoinometrics.substack.com/p/ecoinometrics-august-05-2020

https://dailyhodl.com/2020/09/13/5-crypto-assets-have-100x-potential-after-market-correction-says-lark-davis/