BITCOIN PRICE MANIPULATION! | ‘Unpopular’ Theory on What Triggered BTC and Crypto Crash

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Morgan Creek Digital co-founder Anthony Pompliano says Bitcoin’s status among traditional investors is starting to change.

In an interview with Yahoo Finance, Pompliano says the longer BTC continues to thrive and prove naysayers predicting its demise wrong, the more people will take notice of its remarkable rise in value over the last decade.

He points to the fact that JP Morgan is now providing banking services to crypto exchanges Coinbase and Gemini as a sign of what’s to come.

“Bitcoin is not going away. You’re starting to see a lot of Wall Street investors actually putting it in their portfolios. And they’re starting to also have some track record for these exchanges or businesses, so they can see the financial performance.

So I think ultimately, what you’re really going to start to see is banks can’t ignore this space.”

Pompliano says he’s seeing institutional investors increasingly view Bitcoin as a hedge against the volatility of other financial markets.

“About a year ago, it started to be a thing like, oh, that hasn’t died yet? Maybe I should do some more work and get educated on it. Now what we’re seeing is two separate groups of people. Some that have done that work and are now gaining exposure. So you see someone like a Paul Tudor Jones come in and say he’s got 1-2% of his portfolio. And he’s worried about inflation given all the printing that’s going on…

In the second bucket, what you’ve got is a lot of institutional investors that are sitting there saying, ‘Look, I’m just doing asset allocation and this asset is very unique in that it, over a long period of time, has been non-correlated to other assets. It’s able to improve my Sharpe ratio and can actually drive on a risk reward standpoint a significant increase in my performance by only allocating a small amount of capital.”

Pompliano says he’s not wavering from his personal Bitcoin prediction price path through 2021.

“My guess is we’ll continue to grind up for the next 18 months or so, and I do expect it to be the best performer coming out of this crisis. I’m on record as saying I think Bitcoin will hit $100,000 per BTC by 2021, which is obviously more than a 10x increase in a relatively short period of time in the traditional financial world.”

In other trending Bitcoin News today:

Top Analyst: Bitcoin, Ethereum and XRP on the Edge After Halving – Here’s What to Watch for Next

Crypto analyst and author of An Altcoin Trader’s Handbook, Nik Patel, is updating his outlook on Bitcoin, Ethereum and XRP.

Patel says Bitcoin is facing a crucial moment at the $9,500 level. If the king of crypto can hold above that line, he believes a push to $10,550 is on the horizon.

If not, he believes the bears will likely mount a comeback.

“This is why 9450-9500 is going to be super important post-halving… There will be a lot of sell pressure coming in from everyone who’s been shafted after longing the breakout [and] retest. Overcome that and I think 10550 and higher is on the cards.”

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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:

$BTCThis is why 9450-9500 is going to be super important post-halving on Tuesday.There will be a lot of sell pressure coming in from everyone who’s been shafted after longing the breakout > retest.

Overcome that and I think 10550 and higher is on the cards. pic.twitter.com/ZLNnrZmAb5

— Nik Patel (@cointradernik) May 10, 2020

https://cointelegraph.com/news/forget-btc-price-its-now-possible-to-trade-bitcoin-hash-rate-futures

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BITCOIN RETAKES CRUCIAL KEY LEVEL THAT CATALYZED

4,000% RALLY According to a crypto trader, Bitcoin’s strong rebound in April saw the BTC price close its monthly candle above a key level of the Ichimoku Cloud on the one-month chart.

This is relevant for BTC because the last time Bitcoin claimed this technical level was in early 2016, when the Bitcoin price was trading around $500 and prior to the 4,000% rally that brought the cryptocurrency to $20,000 just 20 months later.

This historical precedent suggests that the crypto market is on the verge of its next parabolic rally.

This is the latest of many historically-relevant signs that Bitcoin is soon going to erupt into a full-blown bull run.

Bitcoin’s trend earlier this week was so strong that amid the peak of Wednesday’s rally a trader observed an unexpected technical occurrence:

The relative strength index (RSI) reading of Bitcoin’s one-hour chart hit 96.5 — just a few points shy of the top of the oscillator, 100.

Traditional forms of technical analysis state that whenever the RSI passes the level of 70, it is overbought over the time frame that is being analyzed.

The fact that Bitcoin’s one-hour RSI briefly hit 96.5 means that it was extremely overbought, almost to the point of lunacy.

According to a crypto trader, the last time this metric was this high for BTC was in April 2019, on the day that the cryptocurrency rocketed 25% higher within the span of a few hours.

What followed this move was an extended rally from the $4,000s to $14,000 within three months.

Similarly, a trader shared the chart in the wake of Bitcoin’s recent strength, noting that the rising wedge that had constrained Bitcoin’s price for the past six weeks has been decimated, with clear invalidation to the upside.

What’s especially notable about this formation of BTC breaking above a rising wedge after a bear market, this is the exact same market structure that marked the start of 2019’s bull run, which brought prices from the $4,000s to $14,000 in three months’ time.

In other trending Bitcoin News today:

Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches

A prediction that Bitcoin (BTC) is about to begin a fourth parabolic phase that will bring the leading cryptocurrency to more than a quarter-million dollars is lighting up the cryptoverse.

A post revealing the new forecast from price analyst PlanB shot across crypto Twitter this week, with more than 4,200 likes.

But the forecast itself has reignited the great debate on the relationship between Bitcoin’s halving – which will slash the rate of new BTC entering the market in a matter of days – and the price of BTC.

According to PlanB, who recently told Morgan Creek Digital co-founder Anthony Pompliano that he’s a member of an institutional investment team that manages roughly $100 billion in assets, his latest stock-to-flow model shows BTC rising to $288,000 by the end of 2024.

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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:

Daily Ichimoku will very likely confirm fully bullish on todays close, as well as 2D Kumo Breakout with a bullish Kumo Twist

I cannot not be bullish on Q2. I want to buy dips. pic.twitter.com/1OUDSintY9

— Smokey (@TraderSmokey) May 1, 2020

Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches

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The first publicly available U.S. mutual fund that generally tracks the Bitcoin price has been launched by a $60 billion fund manager.

In a press release this morning ProFunds announced the launch of its Bitcoin Strategy ProFund (BTCFX). This will be the first publicly available U.S. mutual fund that generally tracks the price of Bitcoin.

On the ease of access and mass exposure that this mutual fund will provide, ProFunds CEO Michael Sapir said that “Compared to directly buying bitcoin, which may involve opening a new account with an unregulated party, this ProFund offers investors the opportunity to gain exposure to bitcoin through a form and investment method that tens of millions of investors are familiar with.”

On the increased demand for a Bitcoin mutual fund, Michael Sapir commented it “has become a significant asset class, and our new Bitcoin Strategy ProFund provides investors access to a bitcoin strategy through a mutual fund investment.”

In other trending Bitcoin News today: Record 57K BTC leave exchanges in one day, dropping Bitcoin reserves to pre-crash levels.

Yesterday was the largest Bitcoin net outflow from exchanges since 2016. BTC needs to close above $40,035 today to make 9 green days in a row – the longest streak since May, 2017.

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

Ledger: ► http://ledger.cryptonewsalerts.net

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:

#Bitcoin game-theory kicking in with America’s hedge funds and political insider-traders. Beautifully, the protocol obviates the need for politicians – so good-bye asshat Liz Warren. $220,000 in 2021 still in play

Buy #Bitcoin, short 🇺🇸 pic.twitter.com/eM2u7lhhO9

— BITCOIN MAXIMALIST (@maxkeiser) July 28, 2021

https://bitcoinmagazine.com/markets/bitcoin-mutual-fund-manager-profunds

It’s On, Elizabeth Warren Triggers Retaliation From The Crypto Community

https://cointelegraph.com/news/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels