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

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Market analyst and prominent podcaster Preston Pysh says Bitcoin is poised to continue its parabolic ascent.

In a new episode of the What Bitcoin Did podcast, Pysh says BTC will prove critics and naysayers wrong in the coming months as he believes the leading crypto asset will outperform beyond expectations.

“I think it’s going to be epic. I think the price between now and mid-April is going to be gangbusters, way more than people are expecting. And then, I think you’re going to go through some natural chop in volatility from there into the six figures by mid-summer into the fall. I think it’s going to be fascinating to watch. I can’t wait to see the CNBC talking heads still not understand it. 

It’s going to be fun because everyone’s looking at it and they’re saying, ‘What is this thing? This doesn’t make any [sense].’ The same thing that you’ve seen with all the people that have been long Tesla and all your traditional folks that were saying, ‘Oh, it’s going to die here.’ It’s the same exact lens being applied to Bitcoin but probably 10x more so.” 

As for the exact price of Bitcoin, Pysh refers to a tweet that shows Bitcoin pulling off a steep rise and printing gains of over 106% in two months.

“I redrew it and that’s why I’m saying on the chart, whether this happens or not, I have no idea, but the redraw that I just recently posted, I think last week, has the price at $95,000 in mid-April before it starts to going into some chop.”

According to Pysh, the chop will likely send Bitcoin back down to $50,000 before resuming its ascent and targeting $150,000 by the end of June.

In other trending Bitcoin News today:

BITCOIN SHOWS DOUBLE BULLISH CONFLUENCE; NEXT TARGET: $50,000

A confluence of two classic technical indicators suggests Bitcoin will hit $50,000 in the short-term.

Dubbed as Bull Flag and Bull Pennant, both the patterns represent a period of consolidation after a strong uptrend, except with different structures. For instance, Bull Flags appear like downward sloping channels, wherein an asset moves lower while leaving behind a trail of higher lows and lower lows.

Meanwhile, Bull Pennants look like a Symmetrical Triangle, wherein the price forms higher lows and lower highs until its upper and lower trendlines converge. Both indicators point to trend continuation, meaning an asset would likely breakout to the upside after exiting their ranges.

The breakout’s length comes to be as higher as the flagpole’s height, i.e., the uptrend before the consolidation.

DOUBLE BULLISH CONFLUENCE

Bitcoin is forming the two bullish patterns on its one-hour chart, with its previous flagpole’s length coming at $8,750. Therefore, the indicators note that the next price breakout could take BTC/USD as high as $8,725.

As of now, the pair is trading just above $45,000. Considering it consolidates further into the Pennant pattern, reaching the apex (~$44,500) before suggesting a breakout move, the upside price target would shift towards $53,225 (after adding $44,500 and $8,725).

The same theory holds valid for the Bullish Flag indicator, as shown in the chart below, except its breakout target may vary.

BITCOIN FUNDAMENTALS

More reasons to stay bullish on Bitcoin come from recent events, including Tesla’s $1.5 billion investment into the cryptocurrency as an alternative to its cash reserves and Twitter’s hopefulness to copy the trade. Many analysts believe that Bitcoin would become a de-facto asset in the corporates’ balance sheets.

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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:

#Bitcoin is peace & love Fiat money is war & violence When we go global Bitcoin standard we’ll have only peace & love. When I said this originally, it was hard to believe. Now, many understand.

☮️ & ❤️

— Max Keiser (@maxkeiser) February 10, 2021

$TSLA $MSTR #Bitcoin all being attacked with naked-sell orders by panicky banksters right now … Whose weapon is to print more fiat … Resulting in new ATH for TSLA, MSGT, BTC $220,000 in 2021 for BTC in play – Monetize dissent

– Monetize bankster fuckwittery

— Max Keiser (@maxkeiser) February 10, 2021

Bitcoin Shows Double Bullish Confluence; Next Target: $50,000

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Bitcoin dumped 17% in the past 24 hours liquidating $5.64 billion in extended BTC losses, however, Wall Street veteran and host of the Keiser Report, Max Keiser remains optimistically bullish sharing the following on Crypto twitter:

”Bitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart).  

We are now heading into a crushing inflationary period that will super charge BTC’s price to the stratosphere.

Incredibly bullish for Bitcoin. The BTC super cycle is just beginning!”

The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board.

Liquidations occur when leveraged futures positions fall to a certain threshold. For example, a position using 10x leverage would get liquidated or turn worthless if the price of BTC drops by 5%.

What triggered the mass Bitcoin liquidation fest?

If the Bitcoin futures market is highly overleveraged and overcrowded, a minor price movement can trigger mass liquidations.

According to analysts at Santiment, a data analytics firm, an address was responsible for the second-largest Bitcoin transaction of the year, as Cointelegraph reported.

More than 2,700 BTC were transferred right before the drop, which were bigger than the 2,000 BTC inflow seen before the March 2020 crash when Bitcoin dropped below $4,000. The analysts said:

“As we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoin’s price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet before a quick sell-off. This same address also made a 2,000 $BTC import last March right as the Black Thursday correction took place. In total, it’s made 73 transactions in its one-year existence, for a total of 91,935 $BTC imported, with all tokens moving away within minutes after arrival.”

It is a possibility that a major sell-off in the spot market triggered the futures market to see intense selling pressure from many long positions getting liquidated.

When Bitcoin initially began to correct on Feb. 22, the futures funding rate of the dominant cryptocurrency was hovering at around 0.15% even as it continued to drop.

In other trending Bitcoin News today:

North American Bitcoin ETF Erupts, Analyst Says It Could Soon Shatter $1 Billion in Assets Under Management

A Bloomberg Intelligence analyst is estimating that the first North American Bitcoin exchange-traded fund (ETF) is on track to reach $1 billion in assets under management (AUM) in the coming days.

In a new tweet, Bloomberg Intelligence’s senior ETF analyst Eric Balchunas predicts that the Purpose Bitcoin ETF, which trades under the BTCC ticker on the Toronto Stock Exchange (TSX), could soon hold more than double its current AUM.

“Canada Bitcoin ETF BTCC traded $350m (CAD+USD) today, a 40% jump from yesterday (defying typical Day Two drop-off) and 3x more than any other ETF (unreal). Proportionally speaking, this is equivalent to about $5 billion in volume in the US (or about 7x more than GBTC). Two-day AUM is estimated at $330m.

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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:

Sec Treasury Janet Yellen states: “Bitcoin is extremely inefficient.” Give me a break. Does she think printing trillions of fake dollars is efficient? Does she not know the more fake dollars she prints the more efficient and valuable Bitcoin becomes? God bless her.

— therealkiyosaki (@theRealKiyosaki) February 22, 2021

#Bitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart).

We are now heading into a crushing inflationary period that will super charge BTC’s price to the stratosphere. pic.twitter.com/4FyO1xAz7D

— Max Keiser (@maxkeiser) February 23, 2021

As we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoin‘s price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet pic.twitter.com/CTgtJr27np

— Santiment (@santimentfeed) February 23, 2021

https://cointelegraph.com/news/5-64-billion-liquidated-in-24-hours-as-bitcoin-extends-losses-is-a-relief-rally-near

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Robert Kiyosaki – author of the 32 million-copy bestseller ‘Rich Dad Poor Dad’ – has taken a coy stance on Bitcoin’s David and Goliath-like battle with the Fed.

In a recent Robert Kiyosaki interview with Bloomberg, he said “I think it’s so interesting. they’re taking on the FED, one of the most powerful banks ever created. And they’re messing into their territory. That’s like me taking on McDonald’s. So I think they’re gonna step on them. I think it’s a very exciting time.”

In other Bitcoin news today:

Clem Chambers, market analyst and CEO of global finance tracker ADVFN, says he thinks the price of one Bitcoin could climb to $100 million or higher.

In a new article at Forbes, Chambers writes that because of Bitcoin’s increasingly limited supply, he believes one Satoshi could one day be worth $1 or more.

There are 100 million Satoshis in each Bitcoin, meaning if Chambers is right, one BTC would be worth $100 million.

He points to Bitcoin’s halvings, which cut the supply miners earn in half every year, as the main mechanism that will power the rising price of the leading cryptocurrency.

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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.

News Resources From Today’s Show:

https://cointelegraph.com/news/rich-dad-poor-dad-author-bitcoin-is-messing-into-the-feds-territory