BITCOIN PREDICTION MODEL UPDATE AS ANALYSTS FLIP ON BTC!

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Macro guru and Real Vision CEO Raoul Pal says the crypto markets could be on the verge of exponential growth as the space sees lightning-fast adoption.

“Right now, it’s a $2.5 trillion asset class. Most of the major asset classes around the world, equities, bonds, real estate, are between $150 trillion and $350 trillion, so I think this goes to $200 trillion in the next 10 years, so that’s a 100x for an asset class. 

Mankind has never seen that before, so it’s an opportunity for everybody because everybody can own 10% of their assets in this – everybody – the richest and the poorest.”

In other trending Bitcoin News today: Here’s Why Bitcoin Will Not Go to $100,000 This Year, According to Crypto Analyst Nicholas Merten!

Crypto analyst Nicholas Merten says that while he’s bullish on Bitcoin, predictions of BTC going to $100,000 this year are likely overly optimistic.

“There’s no way we are going to a $100,000 or $150,000 in Q4 of this year or Q1 of next year. I’m sorry. I’m going to have to say it because I think a lot of the analysts are getting this wrong…

If we’re talking about the perspective of going to $3 or $4 trillion (market cap), around that $150,000 to $200,000 range, it’s going to take a lot of liquidity, and along with that as well, some time to get there. And that’s why we have our expectation of a cycle top coming in November of 2022, far-out than probably 90-95% of market projections.”

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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://cointelegraph.com/news/vaneck-bitcoin-futures-etf-to-launch-on-cboe-on-nov-16

https://cointelegraph.com/news/bull-market-distribution-has-begun-5-things-to-watch-in-bitcoin-this-week

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Bitcoin and crypto are poised to speed up globalization and the decentralization of industries, making them immune to questionable government economic policies, according to tech venture capitalist and BTC bull Tim Draper.

Back in 2018, the tech billionaire made a bold public call that the Bitcoin price would reach $250,000 by the end of 2022 or early 2023.

This year he doubled down on his bullish BTC prediction jokingly stating, “If Bitcoin does not hit $250,000 by early 2023, I’ll eat a raw egg.”

“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”

During the most recent LA Blockchain Summit, Draper speaks about how the massive global transformation ushered in by the Internet is making borders meaningless.

Now, Draper says Bitcoin is about to change everything from real estate to banking.

“When bitcoin came along, all of a sudden, we had a currency that we could use globally and one that we could have faith in even if a government for instance printed 13 trillion dollars, we could still have a currency that would not dilute. 

And that was the beginning of something that I think is going to be a major change in the world. And I think the world is going to go through an anthropological leap because we realize we used to be tribal, and that was sort of a way of being secure. We’d say, ‘Okay, this is the border, don’t cross this border and our people will be safe.’

Well now we realize that the borders are becoming more and more meaningless and the decentralized world becomes more important and it will be everything from banking to insurance to real estate to governance that are gonna change and become decentralized around the world and that’s gonna make us global, completely global.”

“Those barriers are bad for us. But they’re also really just kind of the roar of the dying lion as we move to this new world. And it’s very exciting. And then if you break down crypto, it starts with Bitcoin and it starts with a currency, and a blockchain, and a smart contract.

And then it moves to DeFi (decentralized finance), where all the things that are happening with dollars today now can start to happen with crypto. From there, I think you move to the e-commerce world where open node and others like it can bring it so that the merchants can tap Bitcoin.

I think that those are the three stages and once those stages are done and it’s easy to use and the world opens up, we are going to have a truly crypto, decentralized, open-world.”

In other trending Bitcoin News today:

Craziest Chart in Crypto Shows Billions of Dollars Set to Pour Into Bitcoin, Says Top Analyst

The highly-cited pseudonymous analyst, known in the industry as Filbfilb, says the $10.9 billion rise of Tether (USDT) in 2020 suggests traders are storing their capital in the dollar-pegged stablecoin as they prepare to buy BTC.

The analyst notes USDT expansion – which has been on the rise since the coronavirus-related market crash in March – has historically preceded Bitcoin price increases.

And Tether has expanded massively in the past month alone, he says.

“Since 30th August, USDT expansion has been $5 billion – that’s [a] 50% increase… FIFTY – that 50% is greater than the ENTIRE USDT cap that took BTC to $14k last time… AND price retracted since by c. 10%. I don’t subscribe to Tether conspiracies, but I do subscribe to supply and demand.

This has to be the craziest chart in crypto right now. The positive correlation of Tether expansion / BTC appreciation in 2019 was quite something. In 2020 Tether has expanded from $4.1 billion to $15 billion – FIFTEEN.

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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:

Today, @Square announced that it has purchased $50M in bitcoin. Square believes cryptocurrency is an instrument of economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose. For more, visit https://t.co/HPhSMfVgac.

— Square IR (@SquareIR) October 8, 2020

This has to be the craziest chart in crypto right now. The positive correlation of Tether expansion / BTC appreciation in 2019 was quite something.In 2020 Tether has expanded from $4.1bn to $15bn

– FIFTEEN. pic.twitter.com/PSI6ndlkTH

— f i l ₿ f i l ₿ (@filbfilb) October 5, 2020

https://cointelegraph.com/news/tim-draper-doubles-down-on-his-250k-btc-prediction

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The underlying reason for Bitcoin (BTC) hitting $28,000 by November 1, 2020, is based on historical data and not just an analyst’s prediction.

Bitcoin’s volatility is a well-known aspect of the asset and the fact that this aspect is high is what’s preventing it from becoming an everyday unit of exchange/account or in simple terms – money.

Arguing the soundness of Bitcoin is for another day, however, what’s important is this historical data that suggests an average BTC return of 196% after a certain condition has been met.

According to Kraken’s August volatility report, there are “suppressed pockets” which represent bitcoin volatility slump between 15% to 30%.

To date, bitcoin has only every hit these pockets 12 times, and every time bitcoin slides into these pockets, it reverses to the mean, which happens to be a 315-day moving average.

In other words, after sliding into these pockets, volatility has seen an average surge of 140%.

What’s interesting is the price implication of this volatility suppression and eventual expansion.

It was observed that the price saw an average surge of 196% over the next 90 days.

On two separate occasions – 2014 and 2018, the returns were -60% and -45%., hence, there is an 83% chance of price surging 196%.

Considering the last dip in the pocket was July 24, 2020, and the surge as of writing was only 4.36%, there is a lot of upside for Bitcoin.

196% surge from July 24, over the next 90 days should put bitcoin between the $28,000 and $30,000 range and on October 22, 2020.

This would mean the Bitcoin price has to surge a 4.2% surge every day to hit the target of ~$30,000.

In other trending Bitcoin News today:

PlanB: $700,000,000 Investment in Bitcoin Industry Shows New Phase of BTC’s Financial Takeover Underway

Recent Bitcoin developments have convinced popular analyst PlanB that Bitcoin is entering a new phase of adoption.

The anonymous trader and creator of the stock-to-flow Bitcoin model points to a Reuters report that Kazakhstan has been in talks to attract more than $700 million worth of investments into the cryptocurrency sector.

The oil-reliant central Asian country offers BTC miners cheap electricity rates and reportedly accounts for more than 6% of the total Bitcoin hashrate across the globe, according to a report published in the Cambridge Centre for Alternative Finance.

PlanB also points to last month’s news that MicroStrategy, the largest publicly-traded business intelligence company, had used $250 million of its balance sheet capital to buy Bitcoin.

“This is a game changer: Nasdaq-listed company with $250M Bitcoin (25% of assets, 15% of market cap) is basically a Bitcoin ETF! Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF).”

PlanB recently told cryptocurrency podcaster Peter McCormack that he actually made a conservative bet when he predicted that BTC will hit $288,000.

Instead, he says it could meteorically rise to $864,000 in four years.

“I’m on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I don’t mean the time-series model. So we’re not looking at Bitcoin only. We’re looking at gold, silver, diamonds, real estate, all that stuff.

It’s $288,000. That’s an average value. It could overshoot, like three times, like it did the last phases. I don’t want to mention the number. I try to be conservative all the time. But let’s say a 2x or a 3x from that $288,000, and then it crashes again, of course.”

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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:

💥💥💥This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)

So it begins https://t.co/UepeYeOqbI

— PlanB (@100trillionUSD) August 27, 2020

#phase5https://t.co/03h07lkiiU

— PlanB (@100trillionUSD) September 5, 2020

Futures bounce back significantly in the U.S. Europe also bouncing back up.

Might signal a slight relief on $BTC as well towards the area of $10,600-10,800.

— Crypto Michaël (@CryptoMichNL) September 9, 2020

Why Bitcoin should technically hit $28K before November 1?

https://dailyhodl.com/2020/09/08/planb-700000000-investment-in-bitcoin-industry-shows-new-phase-of-btcs-financial-takeover-underway/

https://cointelegraph.com/news/stocks-may-push-bitcoin-to-108k-says-trader-as-usd-bull-run-falters