BITCOIN PRICE IS UP BY 838 MILLION PERCENT IN LAST 10 YEARS!!! | #post_titleM BTC Price Prediction!

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One of the best buy indicators in Bitcoin flashed this week, suggesting the BTC price is primed to explode.

The Hash Ribbons Indicator created by Charles Edwards uses the thirty-day and sixty-day moving averages of the Bitcoin hash rate to determine when miner capitulation has occurred, and uses this to estimate local BTC bottoms.

Hash ribbons serve as such an effective and historically accurate buy indicator for bitcoin because it uses the changes in bitcoin hash rate to measure miner capitulation in the bitcoin market.

In other trending Bitcoin News today: $400 Billion Hedge Fund Neuberger Berman Approved to Receive Access to Bitcoin and Ethereum!

The $400 billion investment management firm, Neuberger Berman, recently announced adding exposure to BTC and Ether derivatives and investment vehicles as part of the firm’s fund strategy.

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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://bitcoinmagazine.com/markets/buy-indicator-shows-bitcoin-price-will-explode

https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution

https://cryptopotato.com/400-billion-hedge-fund-neuberger-berman-approved-to-receive-access-to-bitcoin-and-ethereum/

https://cointelegraph.com/news/crypto-market-cap-returns-to-2t-for-the-first-time-since-may

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Financial services outfit Square just announced it has picked up more Bitcoin (BTC). 

Square “has purchased approximately 3,318 bitcoin at an aggregate purchase price of $170 million,” the company said in a public statement on Tuesday, adding:

“Combined with Square’s previous purchase of $50 million in bitcoin, this represents approximately five percent of Square’s total cash, cash equivalents and marketable securities as of December 31, 2020.”

Bitcoin has fallen significantly this week so far, dropping below the $50,000 mark after tapping a record high past $58,000, based on TradingView.com data. Based on the $170 million sum Square swapped for about 3,318 BTC, the outfit looks to have paid an average of $51,235 per coin on its new investment.

“Aligned with the company’s purpose, Square believes that cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future,” Square noted in the statement. “The investment is part of Square’s ongoing commitment to bitcoin, and the company plans to assess its aggregate investment in bitcoin relative to its other investments on an ongoing basis.”

Square bought $50 million worth of Bitcoin in 2020, which it announced last fall.

Square’s statement also included an unveiling of its 2020 financial documents. Twitter CEO Jack Dorsey also serves as CEO of Square. Dorsey recently donated 1 Bitcoin to a nonprofit aimed at Bitcoin technical progress.

In other trending Bitcoin News today:

3 Reasons BTC Price Is Quickly Recovering From Its ‘Severe’ 23% Correction

The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours. 

Behind the rapid recovery are three major factors, including low funding rates, Square’s $170 million Bitcoin purchase, and the spot market stabilizing.

Across major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%.

The Bitcoin futures funding rate was consistently above 0.1% throughout the entirety of the rally from the $40,000s to $58,000.

When the futures funding rate is high, it means the market is overcrowded with buyers and the rally likely overextended.

This creates a major risk of a long squeeze, which can cause the price of Bitcoin to drop quickly in a short period.

With the funding rate back to 0.01%, the risk of a long squeeze is significantly lower and if a new uptrend ensues, the rally could be more sustainable.

When the price of Bitcoin was correcting, the price of Bitcoin on spot exchanges, like Coinbase, was much lower than futures exchanges

On Feb. 23, for instance, Bitcoin was trading $600 lower on Coinbase at one point when the price was near $44,800.

When the price of Bitcoin initially recovered from $44,800 to $48,000, there were signs of a bearish retest.

John Cho, the director of global expansion at GroundX, said:

“We were expecting it, but didn’t think it’d come this soon or this fast. A solid bounce from here would be ideal; but some potential retracement support regions I’m watching. My bias is towards the 40-41k region as it would fulfill a 30% correction from ATH.”

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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:

worth noting https://t.co/uAwm7j9QMP from the $51k price implied, @square bought in the last 7days. either before $58k or after, or a mix of peak & dip buying average. keep that in mind before selling BTC under $50k: both institutional and retail ETF buying up for cold storage.

— Adam Back (@adam3us) February 23, 2021

Things @michael_saylor is disrupting: – Outdated beliefs about money – Gold / Gold bugs – Fiat – Mainstream financial media – Corporate governance – Central banking – Financial engineering – Banks – Elitism – BLS (govt. economic reports)

– $USD

– Fake Inflation no.’s— Max Keiser (@maxkeiser) February 23, 2021

https://cointelegraph.com/news/square-bought-more-bitcoin-almost-doubling-its-holdings

https://cointelegraph.com/news/3-reasons-bitcoin-price-is-quickly-recovering-from-its-severe-23-correction

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Bitcoin has the potential to surpass $1 million in the next three to five years, says Raoul Pal, calling BTC the “biggest trade of our lifetimes.”

In September’s crypto outlook newsletter, Bloomberg’s analyst Mike McGlone observed that the Bitcoin price could either be heading to the $500,000 mark, or it could fail.

McGlone has continued to reiterate that in his view, Bitcoin is set to become digital gold.

He emphasized once again how Bitcoin’s limited supply and increasing demand were key adoption indicators, and drew comparisons to the 2017 bull run:

“Much of the broad crypto-asset market echoes 2017’s excesses, but the foundation is firming due to expanding decentralized exchanges (DEXs) and finance (DeFi).

Limited supply vs. increasing demand is the bottom-line for Bitcoin, with macroeconomic underpinnings that support its march toward the market cap of gold, at a price of $500,000 by some estimates. Or it could fail.”

The estimates that the analyst refers to are likely based on assumptions that Bitcoin’s market capitalization will eventually reach parity with gold’s $9 trillion.

Dividing that number by the maximum supply of Bitcoin of 21 million produces $428,571.

A similar sentiment was recently voiced by The Morgan Creek Digital co-founder Anthony Pompliano.

Zero to five hundred thousand provide a pretty good margin of error, unlikely Bloomberg will be proven wrong anytime soon.

In other trending Bitcoin News today:

Bitcoin (BTC) Is the Best Reserve and Collateral Asset Ever Created, Says Global Macro Investor CEO

The CEO of Global Macro Investor, Raoul Pal, says Bitcoin (BTC) is the best reserve and collateral asset ever created.

In a new report on the leading cryptocurrency, the former Goldman Sachs hedge fund manager says he thinks BTC, with its permanently limited supply, is the “hardest” form of money created.

He says as a reserve asset, it is superior to gold in every metric due to its decentralized nature and provable transaction history.

Pal, who predicted the 2008 financial crisis, notes that, in the current macroeconomic structure, government bonds serve as the “bottom of the pyramid” in terms of collateral for the world and the U.S. Treasury.

“That used to work just fine until the central banks became fearful of allowing the business cycle to run unimpeded. Thus, when debt loads became unsustainable, meaning that the weakest borrowers couldn’t get access to enough collateral, instead of the price of collateral rising, thus forcing firms to go bust, central banks began to increase the supply of collateral and reserves (quantitative easing).”

However, this devalues the collateral over the longer term and leads to debt spirals, Pal explains. Bitcoin, however, doesn’t have this problem, according to the investor.

“Bitcoin is pristine collateral. The greatest form of collateral. Its blockchain ownership structure reduces the huge black swan of risk of who owns what. It is all recorded and more importantly, provable.”

Pal notes that all BTC needs to become the preeminent form of collateral is a yield curve indicating future value, something that is already happening with the breakout of decentralized finance (DeFi).

“The revolution in DeFi is doing just that, establishing a forward curve of future value. It is only at the money-market phase right now (short-term yield curve) but over time we will establish the time preference for Bitcoin over 30 years or more, just like bonds.”

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

In the post-Halving bull cycles, bitcoin can often correct 25% (even 40% + in 2017), throwing off the short-term traders (or giving swing traders a shot at the short side). Each of those was a buying opportunity. DCA opportunity ahead? 🙏🤞#Bitcoin pic.twitter.com/tL443DyX63

— Raoul Pal (@RaoulGMI) September 3, 2020

I wrote a very long GMI Monthly this weekend (143 pages, 15,500 words). The core focus was this month on crypto, which I think its the worlds best trade and of which Im irresponsibly long.

Here are a couple of pages with some top-down thoughts.. #Bitcoin pic.twitter.com/xltojJtQn1

— Raoul Pal (@RaoulGMI) August 31, 2020

3 Key Reasons Why Bitcoin Could Bounce After $2,000 Drop

https://dailyhodl.com/2020/09/03/bitcoin-btc-is-the-best-reserve-and-collateral-asset-ever-created-says-global-macro-investor-ceo/

https://cointelegraph.com/news/bloomberg-bitcoin-could-hit-500k-or-drop-to-zero