BITCOIN PRICE ‘ON TRACK’ FOR $100,000, SAYS BLOOMBERG INTELLIGENCE REPORT!!!!!

➡️ OPM Wealth: http://opm.cryptonewsalerts.net

‘Tis the season of Bitcoin price predictions.

Only days after Nexo co-founder Antoni Trenchev made the case for a $50,000 BTC price in 2020, Bitpay Chief Commercial Officer Sonny Singh has also shared his belief that Bitcoin (BTC) will hit a new all-time highs this year.

Notably, Singh shared what turned out to be a correct prediction that Bitcoin would get close to $15,000 in 2019 with Bloomberg a little more than a year ago.

“This year, I’m going to make a prediction,” Singh told Bloomberg’s Taylor Riggs on Wednesday.

“I think Bitcoin passes the all-time high and goes passed $20,000 this year.”

In other Crypto news today, Elon Musk dropped a Bitcoin Bomb on Crypto Twitter… again.

In an innuendo-filled tweet, the chief executive of both SpaceX and Tesla joked that Bitcoin is “*not* my safe word.” (If you don’t know what “safe word” means, please search it up.)

Follow Us:

➡️ [PODCAST PROMO] Get $25 In Free CMDX Tokens from our sponsor: http://promo.cryptonewsalerts.net

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

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

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 is *not* my safe word

— Buff Mage (@elonmusk) January 10, 2020

Elon Musk Just Dropped the Bitcoin Bomb On Twitter, Again

https://www.forbes.com/sites/ktorpey/2020/01/03/why-the-bitcoin-price-could-hit-50000-in-2020/#354d1ea42f37

https://www.forbes.com/sites/ktorpey/2020/01/09/bitcoin-price-to-rise-above-20000-in-2020-says-bitpays-singh/#dab65c96e9ec

➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net

Bitcoin Readies for Next Leg Higher

Bitcoin (BTC) seemingly moves without rhyme or reason, but the cryptocurrency, just like any other asset, has patterns, has rhythms, that may lend insight into future price trends.

Mohit Sorout — a partner at crypto hedge fund Bitazu Capital — shared once such pattern when he published the chart below, indicating that Bitcoin “loves to paint” this price action.

According to Sorout, Bitcoin followed this exact schematic twice last year, once prior to rallying from $5,000 to $7,000, and another time before rallying from $8,000 to the $14,000 yearly highs.

Considering Bitcoin’s price action over the past few days matches the left side of the schematic perfectly, a near-term rally towards ~$11,500 has been made that much more likely, Sorout’s chart indicated.

Sorout’s schematic isn’t the only sign suggesting that Bitcoin will soon make a run past $10,000 to new all-time highs.

The same trader that predicted Bitcoin would bottom at $3,200 six months before it did argued this week that BTC’s chart implies an imminent upswing towards the $12,000 region.

In reference to the chart below, the analyst remarked that “Bitcoin [recently] smashed past” a key technical resistance while the cryptocurrency has held crucial technical levels.

This led him to the conclusion that a move towards $11,500 in July is possible.

More recently, he added that the historical downtrend from Bitcoin’s 2019 high of $14,000 was just broken just days ago.

Bitcoin holding key technical levels while crossing the downtrend indicates that BTC’s price action over the past few days constitutes consolidation above a level of resistance — a sign deemed bullish by the trader.

Bitcoin could also be buoyed by positive fundamental events, such as billionaire hedge fund manager Paul Tudor Jones’ entrance into the cryptocurrency space.

The Wall Street veteran revealed this week that he is investing around $100 million worth of his personal wealth in Bitcoin.

The investor attributed to his newfound belief in the benchmark cryptocurrency to central banks, which are not printing more money than ever before to save the flagging economy. 

In other trending Bitcoin News today:

Hedge Fund Manager Predicts Bitcoin’s Post-Halving Trajectory

Hedge fund manager Matt D’Souza thinks patience is the key for Bitcoin holders looking to capitalize on the halving. D’Souza, who’s also the co-founder and CEO of the crypto mining operation Blockware Solutions, says it’s not the time to day trade.

“In 2016, Bitcoin rallied ~67% into Halving. It corrected 33% & bottomed within 3 weeks only to begin a 17-Month Bull Market. In 2020, we didn’t rally going into Halving as we recovered losses from a Global Market Melt Down. The Fundamentals for Bitcoin have never been better. Halvings are typically Buy the News, Sell the Rumor Events.

In 2020, I expect a shallower sell-off than 2016 (we already corrected 20%) & only a 1.5-3 week duration max. Now is the time to be patient & Hold – NOT day trade. The big money is in the sitting & capturing the Cycle.”

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

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

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:

I don’t understand bitcoin. Please explain it to me.

— J.K. Rowling (@jk_rowling) May 15, 2020

The decoupling is underway:•Stocks selling off and back below where they started May

•BTC bounce continues with slow & steady rise https://t.co/FUYbF8k4h3

— Luke Martin (@VentureCoinist) May 13, 2020

4) The Supply Side Economics has improved w/ the Halving & Demand Side is robust due to the exceptional fundamentals: $SQ‘s Cash App had a record quarter in BTC Sales – signaling retail participation (H/T @IgNoffs)
Paul Tudor Jones is a strong signal of what’s to come from funds

— Matt D’Souza, CPA (@mjdsouza2) May 13, 2020

the rise from 3-14k was clearly an impulsive move.

sure, you could wait for the downtrend from 20k to be broken but you will simply just be jumping in later

— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) May 15, 2020

The Paul Tudor Jones letter is the single most bullish thing ever written about bitcoin, and it came from Tudor himself. I see it as a game changer. Think many macro investors will follow. Mandate changes and onboarding take time. PTJ will be on CNBC this week.

— Alex (@classicmacro) May 11, 2020

Hedge Fund Manager Predicts Bitcoin’s Post-Halving Trajectory

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.

A recent report from Fidelity Digital Assets analyzes the BTC stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.

Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that the BTC price will soar to $1 million by 2029.

Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets.

The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.

“Commodities with a stock that is difficult to double due to a low rate of production relative to existing supply have historically served as superior stores of value.

Such commodities are largely used for investment purposes, and occasionally industrial uses.

On the other hand, consumable commodities that are susceptible to large increases in supply, are less effective in storing value.

In the Bitcoin Standard, Saifedean Ammous adapted stock-to-flow to compare bitcoin to commodities used for investment and consumption and the use of the metric has since expanded and even given rise to models based on the ratio.

Gold, the most resilient store of value through the ages, has the highest stock-to-flow ratio, followed by Bitcoin (today) and silver.

Following the recent halving (May 2020), the gap between the gold and Bitcoin ratio compressed.

Bitcoin’s stock-to-flow will eclipse that of gold following the next halving (2024).”

Grayscale echoes Fidelity’s assessment that commodities with high S2F ratios are typically sought after by investors.

The investment giant looks at Bitcoin to illustrate the positive correlation between an asset’s price and its S2F ratio.

“Commodities with high stock-to-flow ratios such as Bitcoin, gold, and silver have historically been utilized as stores of value.”

However, Grayscale cautions that the S2F price model does not guarantee an increase in the asset’s value.

“While it’s true that price has followed this stock-to-flow model with high correlation, the relationship may be spurious and does not take into account the requisite demand for price appreciation.”

In other trending Bitcoin News today:

BLOOMBERG PREDICTS GOLD AT $3K, BITCOIN AT $20K IN CURRENT BULL RUN!

A bullish comment on gold by a top Bloomberg Intelligence analyst could leave Bitcoin in a similar upside spell.

“Central banks essentially printing money to spur inflation is a solid foundation for the benchmark store of value,” McGlone said.

“Gold bottomed at about $700 in 2008 and peaked near $1,900 in 2011. A similar-velocity 2.7x advance from this year’s low-close near $1,470 would approach $4,000 by 2023.”

The analyst said in its June update that the cryptocurrency could hit $20,000 by the end of this year, citing increasingly favorable fundamental and technical factors.

They included its maturity as an asset, followed by its rising futures open interest and more buy-and-hold strategy among institutional investors.

“Bitcoin ended 2019 at about $7,000, near the bottom of its range, favoring a shift toward the peak. Last year, the high was about $14,000, which would translate into almost double in 2020 if rotating within the recent band,” Mr. McGlone explained.

Follow Us:

🔥 Blog/Podcast: http://CryptoNewsYes.com

🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net

🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net

🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net

🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net

🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes

🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net

🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

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

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 Asymmetric ReturnLast 10 years (2011-2020):– 2 years negative return (2014, 2018)– 3 years [+25% -> +100%] return (2015, 2019, 2020)

– 5 years >100% return (of which 3 yrs >1000% return!) pic.twitter.com/WFatEzbG5Z

— PlanB (@100trillionUSD) August 26, 2020

The Fed, under the leadership of Jerome Powell, continues to be #Bitcoin‘s biggest booster. On Thursday, he will deliver a speech about how the Fed will begin targeting higher inflation. 🧙‍♂️🙏🚀https://t.co/MUXB2MRTp3

— Tyler Winklevoss (@tylerwinklevoss) August 25, 2020

Bloomberg Predicts Gold at $3K, Bitcoin at $20K in Current Bull Run

https://cointelegraph.com/news/tyler-winklevoss-says-us-fed-is-the-biggest-booster-of-bitcoin-price

https://dailyhodl.com/2020/08/25/asset-giant-fidelity-analyzes-model-that-forecasts-bitcoin-rise-to-1000000/