Bitcoin Price Indicator Shows Bearish Mood Strongest Since February | BTC News Today

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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/

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Former Goldman Sachs hedge fund manager Raoul Pal Says he’s preparing for Bitcoin (BTC) to hit $1,000,000 in as little as three years.

In the latest economic report from Global Macro Investor, Pal covers a litany of devastating figures on the state of economies around the world, from rapidly rising unemployment numbers in the US to plummeting retail sales in China.

He says a sharp V-shaped recovery is highly unlikely. “I think that growth will not recover meaningfully from this massive economic hit.

I think the narrative of hope is false hope. I would handicap a U-shaped recovery at 30%. I’d handicap a full debt deflation at 70%. Yeah. 70%.”

He expects baby boomers to “sell every rally they can to protect their last, rapidly diminishing nest egg.”

After that, he predicts boomers will stop spending, triggering slower growth and contributing to a mounting debt crisis. According to Pal, the only answers to the impending calamity are gold and Bitcoin.

“Gold is the protection of our assets. Bitcoin is the call option on the future system. Both are going to save us and probably make us rich… Gold can go up 3x or 5x in the next three to five years. Bitcoin, well, that’s a different story. I think [BTC] can get to $1 million in the same time period.”

Pal says gold now has a $15 trillion market cap, if assets that reflect the price of gold on paper are included. By that logic, and considering his bullish stance on gold’s future growth, Pal says it’s realistic to expect the Bitcoin price could rise to a $10 trillion market cap.

“Would it be crazy for Bitcoin to have a $10 trillion valuation? After all, it isn’t just a currency or even a store of value. It is an entire trusted, verified, secure, financial and accounting system of digital value that can never be created outside of the cryptographic algorithm.

It is nothing short of the future of our entire medium of exchange system, and of money and the platform on which it operates… I think this is the biggest trade of our lifetimes and just at the time when we need it most.”

Pal cautions that forecasting years into the future is a “complex and risky affair” and only time will tell if his theories are accurate. For now, Pal says he’s buying Bitcoin every day.

However, he’s not going all-in on the extremely risky asset, which is known for its dangerous volatility and violent moves to the upside and downside.

“The allocation I am personally aiming for, on my total available liquid assets, is 25% trading investments, 25% cash (all dollars), 25% gold and 25% Bitcoin.”

In other trending Bitcoin News today:

2 Key Technical Reasons Why a Bitcoin Rally to at Least $8K Is Likely

The BTC price has seen a strong rebound from $6,800 to $7,600 within a four-day span, recording a 12% increase.

Two technical factors are likely to push BTC to $8,000 in the near-term as traders anticipate a strong weekly close.

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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/2-key-technical-reasons-why-a-bitcoin-rally-to-at-least-8k-is-likely

https://drive.google.com/file/d/1nWQVpbyeVqwB1qHHVXs1G19b9_iUvrX9/view?usp=sharing

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A crypto strategist who sent an early warning about the Bitcoin (BTC) big correction last year is back with another bold prediction.

Dave the Wave is highlighting a new outlook from entrepreneur and Bitcoin investor Bob Loukas, who expects BTC to crater at the end of the current bull cycle.

Dave predicts that after the current bull market, Bitcoin will go through a “solid correction” for a few years before restarting a new boom cycle that will catapult the leading cryptocurrency above $280,000 at the end of 2027.

BTC investor Bob Loukas tweeted:

“To date, cryptofinance remains a laughed at and obscure market on the fringe of finance. Near the top of the next great Crypto bubble, market cap and penetration will hit ‘warning levels’ that concern the financial establishment.

In response, I believe you’re going to see coordinated full attack that will send crypto into savage + prolonged bear market. (Time+Price) Of course, it will adapt. Engineers will dig deeper. And in many ways, that act will serve as its right of passage.”

In the short term, however, Dave is telling is 38,000 followers that the month-long Bitcoin correction may be coming to an end as technical indicators flash bullish signals.

“Third time lucky?”

The crypto strategist is also keeping a close eye on the performance of a select group of altcoins, which includes Ethereum (ETH/USD), Chainlink (LINK/USD), Cardano (ADA/USD), NEO (NEO/USD), Monero (XMR/USD), and Tezos (XTZ/USD).

Based on Dave’s chart, Chainlink has been the best performer since the 2018 bear market bottom, and it is closely followed by Ethereum, Cardano, NEO, Monero, and Tezos.

Dave compares the long-term timeframe charts of Ethereum and Bitcoin (BTC/USD).

By doing so, according to the trader, Ethereum is poised to explode as it is a full bull market cycle behind Bitcoin. “And the fuller history… suggesting ETH a cycle behind.”

In other trending Bitcoin News today:

THREE KEY REASONS WHY BITCOIN’S MACRO CHART IS STILL BULLISH

Bitcoin’s macro trend remains bullish despite its inability to hold above crucial technical levels during the summer rally.

One crypto-asset analyst recently shared a series of charts and tweets showing that there are multiple reasons to be bullish on Bitcoin from a macro time frame.

Three of these reasons are as follows:

– Bitcoin has flipped the middle of the macro 1,000 range into support, meaning it looks primed to test range highs at $14,000.

– Bitcoin recently broke the multi-year downtrend that originated from the $20,000 all-time high set in December 2017. The downtrend was even retested by Bitcoin in late July, suggesting that it is acting as support. BTC breaking this trendline is important as it acted as resistance in 2019.

– BTC retraced to the “golden pocket” Fibonacci Retracement level in March, suggseting there will be an “impulse wave” towards all-time highs over time.

Underlying on-chain trends agree with the positive sentiment put forth by the aforementioned trader.

Glassnode reported that the number of BTC whales has been on a strong incline since the 2018 lows:

“The number of Bitcoin whales (entities holding ≥ 1K BTC) has been on an upwards trend for the past months. An indication that more high-net-worth individuals are entering the space to invest in Bitcoin in expectation of $BTC price appreciation.”

Other on-chain trends supporting Bitcoin growth include an increase in the realized cap and a decreasing number of BTC on exchanges, which should support price growth.

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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://dailyhodl.com/2020/10/12/after-calling-one-of-bitcoins-biggest-crashes-this-crypto-analyst-says-btc-will-surpass-280000-heres-when/

Three Key Reasons Why Bitcoin’s Macro Chart Is Still Bullish

https://cointelegraph.com/news/17k-bitcoin-price-a-real-possibility-if-bulls-flip-12k-to-support