BITCOIN PRICE TO PLUNGE TO ,400?! | Bearish BTC Halving in 2020?!

➡️ TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net

With the infamous Bitcoin Halving now less than 8 days away, BTC is approaching the most eagerly anticipated moment in its history, and markets are feeding the excitement after weeks of gains.

Bitcoin is just days away from a historic crossroads this week — what will the coming days have in store for traders and hodlers?

Let’s take a look at the major factors influencing the Cryptocurrency market just over a week before Bitcoin’s third block reward halving.

This immediate 50% drop in supply should have considerable knock-on effects for demand, especially taken against the historical precedent of the previous two halvings.

The impact is neatly summarized by Bitcoin’s stock-to-flow price model, which suggests that major price movements should come 1-2 years after the halving.

Bitcoin continues to exhibit some copycat price behavior which tracks movements on major stock markets. 

As of Sunday, futures for the S&P 500 and Dow Jones among others were tanking 3%, which soon translated into a fresh price dip for BTC/USD.

At press time, the pair traded at around $8,700, down 3.7% on the day, having bounced off support at $8,500. 

Coronavirus continues to weigh on sentiment, as the United States and China spar over the pandemic’s origins and handling, sparking trade fears.

Bitcoin’s network fundamentals remain on an upward trajectory despite mixed price action.

Hash rate and difficulty are hovering near all-time highs.

The difficulty is set to increase by a modest 1.4% on May 5 and will be the last such increase before the halving seven days later.

The two aspects of Bitcoin go hand in hand for analysts, as Bitcoin’s automatic difficulty adjustment mechanism prevents manipulation of supply rate, regardless of how much BTC is worth in fiat terms.

In other trending Bitcoin News today:

Same Trend That Marked Start of Bitcoin’s $10,000 Run In 2019 Is Back

After a nearly 20% surge last week, Bitcoin’s weekly candle on Sunday evening closed decisively green at $8,900.

This marked the seventh consecutive weekly gain for BTC, which has posted stellar performances ever since the mid-March capitulation lows.

Although the seven consecutive weeks may mean nothing to readers, it is a strong technical occurrence that may signal that even more upside is on the table for the months ahead.

Zack Voell, a market analyst at CoinDesk, recently noted that Bitcoin closing its seventh consecutive weekly gain hasn’t happened since April 2019, when the last bear market ended.

This would suggest that should history repeat itself, the cryptocurrency is on the verge of yet another bull run.

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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:

$BTC-Mex funding+premium index still negative-Above the yearly vwap -Above the 200 DMA -Bullish 1D cloud-Halving in 10 days

You might not call and short THE top but you’ll save yourself a lot of potential headaches by just waiting for a break in 1D market structure.

— HornHairs 🌊 (@CryptoHornHairs) May 2, 2020

Same Trend That Marked Start of Bitcoin’s $10,000 Run In 2019 Is Back

https://cointelegraph.com/news/halving-stocks-fundamentals-3-things-to-watch-in-bitcoin-this-week

➡️ Leverage OPM (Other People’s Money): http://100.cryptonewsalerts.net

Bitcoin has every possibility to grow its market size by 15-20X within the next 15 months, according to BTC bull Anthony Pompliano of New York-based hedge fund Morgan Creek Digital.

“My base case is approximately 10x to $100,000 and the bull case is around $250,000 per bitcoin,” he predicted after assessing all the said catalysts.

The founder said in a note to investors that they should put 1-10 percent of their investable capital into Bitcoin.

Recalling his own portfolio’s 50 percent exposure in the cryptocurrency, Pomp cited a string of upside catalysts that would benefit anyone who invests-in/holds the 11-year old financial asset.

The first optimistic fundamental in line was the Federal Reserve and its unprecedented monetary policies.

The US central bank in April cut its interest rate to near-zero to boost lending amid the coronavirus pandemic.

In its recent remarks, the Fed vowed to keep the rates lower for the foreseeable future.

More tailwinds Bitcoin’s bullish bias came from the US government’s $3 trillion stimulus package.

Because of it, the Fed’s balance sheet expanded by 75 percent since the beginning of 2020.

The bank further announced that it is targeting a 2 percent-plus inflation level.

“The average investor fears inflation right now, regardless of whether we [actually] see that inflation or not,” wrote Mr. Pompliano, adding that the “fear has driven significant capital flows into inflation-hedge assets (Gold, Bitcoin, Real estate, etc.).”

“The combination of the Fed’s asset price manipulation and inflation fears has driven gold and Bitcoin to drastically outperform equities and other commodities.”

Bitcoin rose by around 50 percent on a year-to-date timeframe. Pomp predicted a further upside for the cryptocurrency due to growing demand from the institutional investors.

For instance, Fidelity Investments, a Boston firm with $3.3 trillion worth of assets-under-management, favored a 1-5 percent allocation to Bitcoin in any portfolio.

Meanwhile, Stone Ridge, a $10 billion asset management firm, revealed that it now owns $15 million worth of BTC tokens.

Billionaire investor Paul Tudor Jones put 1-2 percent of his $22 billion portfolios into Bitcoin Futures.

Also, many pensions funds gained exposure in the cryptocurrency.

Pomp’s letter highlighted corporations that purchased Bitcoin as a reserve asset for part or majority of their treasury.

That included MicroStrategy, a $1.2 billion market cap firm that put 85 percent of its $500 million balance sheet ($425M) into Bitcoin, and global payments firm Square that last week purchased $50 million worth of BTC tokens.

“The demand outlook is strong, and it shows signs of actually accelerating into the first half of 2021,” added Mr. Pompliano.

The fund manager later discussed the Bitcoin market’s potential supply shock.

With a 21 million hard cap and 18.4 million units already in circulation, Mr. Pompliano noted that Bitcoin’s scarcity against its rising demand would act as another bullish tailwind.

In other trending Bitcoin News today:

Bitcoin pioneer Max Keiser went on a Crypto Twitter rant predicting a $28K short term Bitcoin target along with a $400K BTC price target for the long term…

“There is strong evidence to suggest Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000”

“The (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000”

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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:

There is strong evidence to suggest #Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000

— Max Keiser (@maxkeiser) October 16, 2020

The (temporary) #Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000

— Max Keiser (@maxkeiser) October 16, 2020

❓Why does #bitcoin price not go up with all this institutional buying? Who is selling? BTC price is exactly where it should be, holding firm above $10K, waiting for that one moment .. asymmetrical returns .. patience! pic.twitter.com/pCyftmvHco

— PlanB (@100trillionUSD) October 16, 2020

Bitcoin Will Likely Grow 15-20x in Next 15 Months: Fund Manager

https://cointelegraph.com/news/calm-before-the-storm-analyst-says-20k-bitcoin-possible-in-3-months

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

Bitcoin and crypto are poised to speed up globalization and the decentralization of industries, making them immune to questionable government economic policies, according to tech venture capitalist and BTC bull Tim Draper.

Back in 2018, the tech billionaire made a bold public call that the Bitcoin price would reach $250,000 by the end of 2022 or early 2023.

This year he doubled down on his bullish BTC prediction jokingly stating, “If Bitcoin does not hit $250,000 by early 2023, I’ll eat a raw egg.”

“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”

During the most recent LA Blockchain Summit, Draper speaks about how the massive global transformation ushered in by the Internet is making borders meaningless.

Now, Draper says Bitcoin is about to change everything from real estate to banking.

“When bitcoin came along, all of a sudden, we had a currency that we could use globally and one that we could have faith in even if a government for instance printed 13 trillion dollars, we could still have a currency that would not dilute. 

And that was the beginning of something that I think is going to be a major change in the world. And I think the world is going to go through an anthropological leap because we realize we used to be tribal, and that was sort of a way of being secure. We’d say, ‘Okay, this is the border, don’t cross this border and our people will be safe.’

Well now we realize that the borders are becoming more and more meaningless and the decentralized world becomes more important and it will be everything from banking to insurance to real estate to governance that are gonna change and become decentralized around the world and that’s gonna make us global, completely global.”

“Those barriers are bad for us. But they’re also really just kind of the roar of the dying lion as we move to this new world. And it’s very exciting. And then if you break down crypto, it starts with Bitcoin and it starts with a currency, and a blockchain, and a smart contract.

And then it moves to DeFi (decentralized finance), where all the things that are happening with dollars today now can start to happen with crypto. From there, I think you move to the e-commerce world where open node and others like it can bring it so that the merchants can tap Bitcoin.

I think that those are the three stages and once those stages are done and it’s easy to use and the world opens up, we are going to have a truly crypto, decentralized, open-world.”

In other trending Bitcoin News today:

Craziest Chart in Crypto Shows Billions of Dollars Set to Pour Into Bitcoin, Says Top Analyst

The highly-cited pseudonymous analyst, known in the industry as Filbfilb, says the $10.9 billion rise of Tether (USDT) in 2020 suggests traders are storing their capital in the dollar-pegged stablecoin as they prepare to buy BTC.

The analyst notes USDT expansion – which has been on the rise since the coronavirus-related market crash in March – has historically preceded Bitcoin price increases.

And Tether has expanded massively in the past month alone, he says.

“Since 30th August, USDT expansion has been $5 billion – that’s [a] 50% increase… FIFTY – that 50% is greater than the ENTIRE USDT cap that took BTC to $14k last time… AND price retracted since by c. 10%. I don’t subscribe to Tether conspiracies, but I do subscribe to supply and demand.

This has to be the craziest chart in crypto right now. The positive correlation of Tether expansion / BTC appreciation in 2019 was quite something. In 2020 Tether has expanded from $4.1 billion to $15 billion – FIFTEEN.

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🔥 [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:

Today, @Square announced that it has purchased $50M in bitcoin. Square believes cryptocurrency is an instrument of economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose. For more, visit https://t.co/HPhSMfVgac.

— Square IR (@SquareIR) October 8, 2020

This has to be the craziest chart in crypto right now. The positive correlation of Tether expansion / BTC appreciation in 2019 was quite something.In 2020 Tether has expanded from $4.1bn to $15bn

– FIFTEEN. pic.twitter.com/PSI6ndlkTH

— f i l ₿ f i l ₿ (@filbfilb) October 5, 2020

https://cointelegraph.com/news/tim-draper-doubles-down-on-his-250k-btc-prediction