BITCOIN PRICE TO HIT $85K IN COMING MONTHS AS INDICATORS FLIP BULLISH!! TANZANIA NEXT TO ADOPT BTC?!

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The underlying reason for Bitcoin (BTC) hitting $28,000 by November 1, 2020, is based on historical data and not just an analyst’s prediction.

Bitcoin’s volatility is a well-known aspect of the asset and the fact that this aspect is high is what’s preventing it from becoming an everyday unit of exchange/account or in simple terms – money.

Arguing the soundness of Bitcoin is for another day, however, what’s important is this historical data that suggests an average BTC return of 196% after a certain condition has been met.

According to Kraken’s August volatility report, there are “suppressed pockets” which represent bitcoin volatility slump between 15% to 30%.

To date, bitcoin has only every hit these pockets 12 times, and every time bitcoin slides into these pockets, it reverses to the mean, which happens to be a 315-day moving average.

In other words, after sliding into these pockets, volatility has seen an average surge of 140%.

What’s interesting is the price implication of this volatility suppression and eventual expansion.

It was observed that the price saw an average surge of 196% over the next 90 days.

On two separate occasions – 2014 and 2018, the returns were -60% and -45%., hence, there is an 83% chance of price surging 196%.

Considering the last dip in the pocket was July 24, 2020, and the surge as of writing was only 4.36%, there is a lot of upside for Bitcoin.

196% surge from July 24, over the next 90 days should put bitcoin between the $28,000 and $30,000 range and on October 22, 2020.

This would mean the Bitcoin price has to surge a 4.2% surge every day to hit the target of ~$30,000.

In other trending Bitcoin News today:

PlanB: $700,000,000 Investment in Bitcoin Industry Shows New Phase of BTC’s Financial Takeover Underway

Recent Bitcoin developments have convinced popular analyst PlanB that Bitcoin is entering a new phase of adoption.

The anonymous trader and creator of the stock-to-flow Bitcoin model points to a Reuters report that Kazakhstan has been in talks to attract more than $700 million worth of investments into the cryptocurrency sector.

The oil-reliant central Asian country offers BTC miners cheap electricity rates and reportedly accounts for more than 6% of the total Bitcoin hashrate across the globe, according to a report published in the Cambridge Centre for Alternative Finance.

PlanB also points to last month’s news that MicroStrategy, the largest publicly-traded business intelligence company, had used $250 million of its balance sheet capital to buy Bitcoin.

“This is a game changer: Nasdaq-listed company with $250M Bitcoin (25% of assets, 15% of market cap) is basically a Bitcoin ETF! Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF).”

PlanB recently told cryptocurrency podcaster Peter McCormack that he actually made a conservative bet when he predicted that BTC will hit $288,000.

Instead, he says it could meteorically rise to $864,000 in four years.

“I’m on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I don’t mean the time-series model. So we’re not looking at Bitcoin only. We’re looking at gold, silver, diamonds, real estate, all that stuff.

It’s $288,000. That’s an average value. It could overshoot, like three times, like it did the last phases. I don’t want to mention the number. I try to be conservative all the time. But let’s say a 2x or a 3x from that $288,000, and then it crashes again, of course.”

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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:

💥💥💥This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)

So it begins https://t.co/UepeYeOqbI

— PlanB (@100trillionUSD) August 27, 2020

#phase5https://t.co/03h07lkiiU

— PlanB (@100trillionUSD) September 5, 2020

Futures bounce back significantly in the U.S. Europe also bouncing back up.

Might signal a slight relief on $BTC as well towards the area of $10,600-10,800.

— Crypto Michaël (@CryptoMichNL) September 9, 2020

Why Bitcoin should technically hit $28K before November 1?

https://dailyhodl.com/2020/09/08/planb-700000000-investment-in-bitcoin-industry-shows-new-phase-of-btcs-financial-takeover-underway/

https://cointelegraph.com/news/stocks-may-push-bitcoin-to-108k-says-trader-as-usd-bull-run-falters

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Raoul Pal of Global Macro Investor is breaking down the potential paths ahead for Bitcoin as the BTC halving approaches.

He says Bitcoin is currently in one of the best positions of any asset he’s ever seen, trading inside a “perfect wedge” that he believes is a precursor to a massive new bull run.

Pal’s first depiction of the wedge using traditional charting techniques has the Bitcoin price targeting $40,000.

But when switching to a log price scale to get a long-term perspective, Pal says the BTC price is on a trajectory to $1 million.

Using linear regression channels, which highlight the upper, lower and middle portions of a trend or price move, Pal says BTC displays a move to $400,000 to $1 million.

He says his analysis aligns with Bitcoin predictions from the anonymous strategist PlanB. “Whatever plays out, after a key technical break like today, the probability of vastly higher prices has risen dramatically. And this is confirmed by the stock to flow models by PlanB and the breakout has happened almost exactly at the halvening.”

Pal also points to a rapid increase in money printing and struggling currencies in places like Venezuela and Argentina as a sign of what’s to come.

“Add to that the entire world’s central banks are either seeing their currencies collapse to the almighty dollar (BRL, TRY, ARG, etc) or they are printing money like crazy. Huge quantitative easing fiat meets the hardest money that automatically quantitatively tightens. BTC wins.

This is the one of the best setups in any asset class I’ve ever witnessed… technical, fundamental, flow of funds and plumbing. All. Now. Again, to be clear, even if it has 90% odds, doesn’t mean its definitely going to work…I can and will be wrong…often and dramatically.”

Pal says he recently allocated 25% of his liquid net cash to Bitcoin, along with 25% to gold.

He’s reserving another 25% for trading opportunities and plans to keep the last 25% in cash.

In other trending Bitcoin News today:

THESE 4 TRENDS SUGGEST BITCOIN WILL ROCKET HIGHER TOWARDS $15,000: FUNDSTRAT

Since the $3,700 lows, Bitcoin has roared higher, crossing above resistance after resistance in succession. 

Just recently, BTC tapped $10,000.

Although impressive, top analyst Tom Lee expects for the cryptocurrency to head even higher, citing three “solid” tailwinds for this market.

“There’s a confluence of four fundamental factors that indicate Bitcoin’s medium-term to long-term trend is shaping positive, analyst Thomas Lee has said. The co-founder of Fundstrat Global Advisors, a New York-based research firm, identified them as follows:

1 – Bitcoin is the best-performing “asset class” in 2020, beating U.S. Treasuries and Gold amid a global recession. Treasuries are up 21% while the precious metal is up 13% — already much better performances than the S&P 500’s 10% drop, the 5% drop in emerging market corporate bonds, and the 20% drop in the Russell 2000 index.

2 – In a similar vein, BTC was the best-performing asset class of 2019, rallying 92% while the U.S. stock market gained around 20%.

3 – The block reward reduction, known as a “halving,” is taking place in four days, estimates suggest.

4 – Paul Tudor Jones, one of the world’s biggest macro investors, just announced his fund is taking a stake in Bitcoin futures. Jones believes the cryptocurrency will act as a hedge against inflation.”

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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://bitcoinblockhalf.com/

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High-profile crypto strategist Peter Brandt says Bitcoin appears to be setting up for a big move that will propel the BTC price to a new all-time high.

The veteran trader tells his 364,000 Twitter followers that he sees Bitcoin ending its multi-year bear market en route to a surge of 400%.

“That is actually where my head is. Massive symmetrical triangle in BTC points to ATHs, then $50k”

The top cryptocurrency briefly climbed above psychological resistance of $10,000 on Sunday.

Brandt also sees the possibility of a long-awaited breakout for XRP.

“XRP/BTC forming a possible inverted H&S bottom. Maybe Ripple Labs, the bag holder, will be able to pull a cat out of the bag.”

Another closely-followed crypto analyst who goes by the name The Crypto Dog tells his 203,000 Twitter followers that he believes the XRP/BTC pair is on the cusp of a new uptrend.

“This is literally the very beginning for XRP. Let it ride.”

In other trending Bitcoin News today:

Ethereum Price Hits 2020 High: Key Reasons Why ETH Outperforms Others

The price of Ethereum (ETH) has reached a new yearly high at $322, surpassing the previous high achieved in February 2020.

Three key catalysts are seemingly behind the ETH rally. Since early 2020, the anticipation of Ethereum 2.0, which would enable staking for users, pushed the demand for ETH upward.

Staking allows users to receive incentives when miners are eliminated from the Ethereum network.

A proof-of-stake consensus algorithm does not need miners on the protocol.

Instead, users with a stake in ETH collectively process data and information through staking.

In return, they receive rewards in the form of ETH.

After the so-called “Black Thursday” correction on March 13, when ETH briefly dropped below $90, the DeFi market began to expand rapidly.

When new protocols, like Compound, introduced their incentive systems, the demand for decentralized finance increased even further.

In May, less than $1 billion was locked in DeFi platforms. As of July 26, more than $3.75 billion is locked across various DeFi protocols.

The optimism around DeFi and Ethereum 2.0 eventually led to Ether spot and options markets setting record high volume and open interest.

Since the start of the second quarter, the ETH options market has continuously soared to new highs in terms of trading activity.

Consequently, it intensified the uptrend of ETH in a short period. Cryptocurrency on-chain market data analysis firm Santiment said ETH broke out of $300 for the 42nd time in history.

An upsurge above $350 would be significant, according to researchers, because it has only happened three times in the past. Santiment stated in a tweet:

“It’s clear that Ethereum is sitting in its ‘sweet spot’ where the most polarization has historically unfolded (between the $200 and $300 levels) during its five year history.”

Based on the technical market structure of Ether, some traders said that $308 and $400 remain as the key short-term resistance levels.

Michaël van de Poppe, a Cointelegraph contributor and a full-time trader at the Amsterdam Stock Exchange, said in a tweet that ETH has increased higher than expected:

“Going a little higher than the plan initially was, a month ago. But we’re doing fine. Might be on the resistance at the $308 level. But that’s basically final hurdle before $400+, to me.”

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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:

That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k

— Peter Brandt (@PeterLBrandt) July 25, 2020

https://www.coindesk.com/research/reports/ethereum-2-0-how-it-works-and-why-it-matters

https://cointelegraph.com/news/ether-price-hits-2020-high-key-reasons-why-eth-outperforms-others