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

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The Bitcoin price will hit $100K+ per BTC before 2022 according to popular Crypto analysts PlanB, Tom Lee, Anthony Pompliano and Bitmex CEO Arthur Hayes.

This is around the date of the Bitcoin (BTC) block reward halving, which would kick off the “bull run” sending the cryptocurrency to $100,000 before December 2021.

PlanB released the predictions describing them as his “2 sats on BTC price.” In a previous update in January 2019, he claimed BTC/USD would stay above its 200-week moving average (200WMA), which historically had always grown.

Stock-to-flow uses two indicators to chart Bitcoin’s price trajectory: the number of Bitcoins already available versus the number of new Bitcoins added to circulation.

Historically highly accurate, the model puts Bitcoin on par with gold in terms of its status as hard money with a supply that is virtually impossible to manipulate, unlike fiat currency. 

In the long term, PlanB expects BTC/USD to trade at an average of $100,000 between 2021 and 2024.

After that, however, fiat weakness may reach such an extent that BTC (Bitcoin) appreciates to “a factor” of $100,000, at which point stock-to-flow would ironically become less useful. 

Bitcoin is starting 2020 with a bang. With double-digit gains in January, the top cryptocurrency briefly breached psychological resistance at $10,000 over the weekend.

Even with the current pullback to $9,757, BTC is still up by over 36% year-to-date, with more upside potential this year, according to Fundstrat co-founder Tom Lee.

In a recent appearance on CNBC’s Power Lunch, Lee argues that Bitcoin is now at the start of a new bull run. “A lot of good things have happened with Bitcoin this year. One is the halvening is happening in May. But we broke above the 200-day [moving average] – so back in a bull market.

There is the corona[virus] risk and geo-political tension… Last year, I think Washington killed the Bitcoin rally.

But with the elections, it’s sort of not in the purview of Washington. So I think Bitcoin could rally very strongly from here.”

Regarding the projected strength of the rally, Lee adds, “When Bitcoin breaks above its 200-day, which it did about two weeks ago, its average six-month gain is about 190%. So this would point to all-time highs sometime this year.”

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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 just hit $10,000.I still think that Bitcoin will hit $100,000 by end of December 2021.

Fixed supply. Increasing demand. Time will tell. #Bitcoin

— Pomp 🌪 (@APompliano) February 9, 2020

It is not S2F related, and also not WMA200 related. It is a new not yet disclosed indicator that is the result from chain analytics. So if it would drop below $8200 (what I do not expect), then I will drop that indicator.

— PlanB (@100trillionUSD) February 10, 2020

https://cointelegraph.com/news/anthony-pompliano-believes-bitcoin-price-climb-to-100k-has-started

https://cointelegraph.com/news/bitcoin-price-has-set-82k-floor-100k-coming-before-2022-analyst

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Bitcoin Long-Term Cycles Offer Hopium…

When near-term BTC confusion prevails, sometimes it’s best to take a step back to see the bigger picture of where the market is and what possibilities the future holds.

According to Inmortal, a pseudonymous Twitter user, Bitcoin’s four-year cycle is currently about 65% through its bull-market phase and the trader predicts a top at $150,000, which will be followed by a correction to $32,000.

In other trending Crypto News today: Ethereum price can hit $14,000 if the March 2020 chart fractal holds.

Ethereum’s native asset Ether (ETH) faces prospects of closing above $14,000 sometime in 2021 based on its current trend’s striking similarity with the one from last year.

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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/bitcoin-traders-express-mixed-emotions-about-what-s-next-for-btc-price

https://cointelegraph.com/news/ethereum-price-can-hit-14k-if-the-march-2020-chart-fractal-holds

https://cointelegraph.com/news/paypal-set-to-launch-crypto-trading-in-the-uk-and-may-embrace-defi

https://cointelegraph.com/news/microstrategy-pledges-to-buy-more-btc-despite-paper-loss-on-its-holdings-of-424-8m-in-q2

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The popular stock-to-flow Bitcoin pricing model is still showing positive signs and a possible second leg for the current bull market. 

According to PlanB, the brainchild behind the highly-debated BTC stock-to-flow model, the bull market is not over yet.

In a tweet on August 18, the analyst posed an update of the model showing that target white line and on-chain pricing signals indicate that we are still in the middle of this cycle. 

The model has been pretty accurate during Bitcoin’s lifespan so far, and its creator still asserts that prices have a lot further to go during this cycle:

“IMO we are going up, first to 100k, then 288k”

In other trending Crypto News today: Ethereum ‘liquidity crisis’ could see new ETH all-time high before Bitcoin

Ethereum‘s native token, Ether (ETH), may beat Bitcoin (BTC) to new all-time highs, fresh analysis reveals.

In a tweet on Wednesday, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted a “sell-side liquidity crisis” that could yet give ETH the edge over BTC.

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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://cryptopotato.com/stock-to-flow-model-suggests-second-leg-of-bitcoin-bull-market-imminent/

https://cointelegraph.com/news/ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst

https://cointelegraph.com/news/emerging-economies-dominate-chainalysis-2021-global-crypto-adoption-index.%20%20%20%20Panama,%20Paraguay,%20and%20Colombia

https://cointelegraph.com/news/bitcoin-will-remind-everyone-who-the-king-is-says-trader-as-btc-dips-to-44k