Bitcoin Price Dumps to K as China Vows to ‘Dispose of’ Local Exchanges! | BTC Price Prediction

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Market analyst and podcaster Preston Pysh says he believes a new long-term Bitcoin bull cycle is coming that will take the BTC price far past $100,000.

In a new interview with Heyo co-founder Nathan Latka, Pysh points to the Bitcoin halving, which is set to execute next month, as the catalyst for a parabolic rally that could bring the Bitcoin price to $300,000.

“Do I think that it’s just going to up to [$100,000] and stop? Hell no. It’s going to go straight through that number. It’s probably going to go to $200,000 to $300,000.

And then, if it doesn’t meet its escape velocity, which is a whole other term, which is, in my opinion, completely dependent on all this other macro stuff that we’ve been talking about… then it’s going to come back to that $80,000 to $100,000 mark. And it will stay there until the next four year halving event.”

Pysh says concerns that the halving, which will cut in half the amount of BTC rewarded to miners who power the network, will make it hard for miners to earn a living are overblown.

He points to Bitcoin’s difficulty adjustment, which automatically reviews network activity and changes how much computing power is required to process transactions, as the key reason many miners will continue to turn a profit as Bitcoin becomes increasingly scarce.

As for his personal investments, Pysh says he owns Bitcoin (BTC) and is now out of the equities market.

He says the push from central banks to ramp up money printing will significantly weaken the US dollar.

He points to billionaire investor Ray Dalio as an example of a leading investor who shares the same views on the future of the global reserve currency.

In January, Dalio said “cash is trash” in an interview with CNBC.

Dalio argues that a weakening dollar and increasing money supply will decrease its value over time.

In other trending Bitcoin news today: ‘Boomers Are F*cked’ – New Macro Report Forecasts $1M Bitcoin by 2025

In a scathing attack on the world’s ailing financial system, Raoul Pal puts his faith firmly in Bitcoin and gold as the future.

Bitcoin (BTC) can rally to $1 million but coronavirus means that the baby boomer generation is “f*cked,” a damning new macro report concludes.

Originally published to clients on March 30, the report from Global Macro Investor dubbed “The Unfolding” paints a dismal future for the financial market.

According to CEO Raoul Pal, who authored the report, coronavirus has fueled the fire of systemic weakness across global markets.

“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg,” he summarized on the market losses from March.

“The Baby Boomers are totally f*cked. I have been publicly warning and warning about this.”

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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:

Jack Dorsey has one thing listed in his bio on twitter. So here’s the question for people that think BTC won’t work:

What the hell does this guy know about #Bitcoin that you don’t? pic.twitter.com/q6dug8A8Hn

— Preston Pysh (@PrestonPysh) April 23, 2020

https://cointelegraph.com/news/boomers-are-fcked-new-macro-report-forecasts-1m-bitcoin-by-2025

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Crypto analyst Elja Boom, the CEO of Ajoobz tweeted on Crypto Twitter to his 66.3K followers:

“Bitcoin will reach $100,000 by 2021. Mark my words.”

Lark Davis, another cryptocurrency influencer who is very bullish on BTC recently tweeted to his 57.7K followers:

“Quick reminder that the price of Bitcoin went from $11,000 to $20,000 in 14 days back in 2017. This market is a powder keg!”

Lark received the following skeptical response to his bullish tweet, “Yes but retail was the main driver, there is no surge in retail interest right now, see google trends.”

The Crypto Lark then replied:

“Yes, true, but also companies were not buying $175 million worth of BTC at a time which is the equivalent of 350,000 retail investors buying 500 bucks worth of bitcoin each.”

He’s referring to Microstrategy’s recent massive Bitcoin acquisition:

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”

In other trending Bitcoin News Today:

Mad Money’s Jim Cramer ‘Fixated’ on Buying Bitcoin, Fears Massive Inflation

Jim Cramer, the Mad Money host and The Street co-founder, said he is “fixated” on needing to own bitcoin because he fears a “massive amount of inflation.”

While he owns “so much gold,” he is adamant about leaving a bitcoin inheritance to his children.

Cramer calls himself a gold bug because he has “so much gold,” he revealed.

He is concerned about hedging against inflation and leaving the right assets to his kids.

The former hedge fund manager explained that to hedge against inflation, he currently goes to his “inflation handbook,” and “what it says is buy gold, buy masterpieces and buy mansions.

Those are the three things.” He emphasized that “what we didn’t have in that menu was crypto and I think that you have to have [it].”

He further opined:

“I feel very strongly that I have missed crypto.”

Pomp clarified to Cramer that it is important to distinguish between bitcoin and cryptocurrencies.

“When you talk to your kids about it, you got to make sure it’s bitcoin not just crypto in general because bitcoin specifically has the inflation hedge – things that we’re talking about here.”

Cramer believes: My kids, when they get my inheritance, won’t feel comfortable with gold and will feel comfortable with crypto.

“I just need something that my kids will understand … and they will never understand gold and the reason why they’ll never understand gold is they think gold’s dangerous. It’s dangerous because it can be stolen. It’s dangerous because they don’t want to take it out of the bank,” Cramer shared.

As for cryptocurrency, the Mad Money host is also concerned about the security side, such as getting hacked.

However, Pomp explained several ways to keep his bitcoin more secure.

In other trending BTC News today:

Kraken is launching a crypto bank in Wyoming, paving the way for possible stock offerings

Cryptocurrency exchange Kraken is launching a bank under a new regulatory framework in Wyoming, a move that will expand its product suite, the firm said in an announcement Wednesday. 

Headquartered in Wyoming, Kraken Financial will be regulated by the Wyoming Division of Banking under a so-called Special Purpose Depository Institution.

The new structure was purpose-built for cryptocurrency companies and will allow Kraken to offer certain banking functions to clients and effectively serve as the exchange operator’s primary banking relationship. 

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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:

On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.

— Michael Saylor (@michael_saylor) September 15, 2020

https://news.bitcoin.com/mad-money-jim-cramer-bitcoin-inflation/

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Veteran crypto trader Tone Vays says Bitcoin (BTC) should finish its recent correction relatively soon before going on a sharp rally to six figures.

“A $40,000 low coming in either next week or it could get dragged out… into early October, and then we break this area of $50,000 in mid- to late October. 

We break $65,000 by early November, and then we’re probably hovering above $100,000 by end of December. So I’m still holding to my view that we break $100,000 in December.”

In other trending Bitcoin News today: Cathie Wood predicts Bitcoin will surge to $500,000 in 5 years – and says Ark Invest’s confidence in Ethereum has shot up dramatically.

Ark Invest CEO Cathie Wood expects bitcoin to soar to $500,000 in five years, and her firm’s conviction in ether has strengthened tremendously, the star stock-picker said in a new interview with CNBC on Monday.

“Our confidence in ether has gone up dramatically as we’ve seen the beginning of this transition – from proof of work to proof of stake,” Wood said. “We’d still probably do 60% bitcoin, 40% Ether.”

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

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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/cathie-wood-bitcoin-price-prediction-jump-500000-ether-confidence-high-2021-9

https://cointelegraph.com/news/microstrategy-doles-out-240m-on-additional-bitcoin-purchase

https://cointelegraph.com/news/fake-news-litecoin-price-surges-35-following-walmart-adoption-hoax………%20which%20then%20sent%20the%20entire%20crypto%20market%20crashing%20once%20this%20story%20was%20confirmed%20to%20be%20a%20hoax%20by%20walmart…..

https://cointelegraph.com/news/btc-price-nears-46k-with-bitcoin-exchange-reserves-lower-than-november-2020