BITCOIN PRICE WILL NEVER HIT 0K?! | 5 Reasons Why BTC Is Crashing Right Now!

➡️ Cryptocurrency Masterclass: http://class.cryptonewsalerts.net

It’s been an explosive past few days for Bitcoin (BTC).

After tanking as low as $8,600 on the weekend before last, the Bitcoin price breached $10,000 just hours ago.

On Bitstamp, BTC traded as high as $10,429, according to TradingView.com data.

While the asset remains below the yearly highs of $10,500, a prominent analyst noted that this rally has formed Bitcoin’s largest breakout ever.

This suggests that the crypto market is heading much higher than it is in the long run.

Chief executive of Real Vision Raoul Pal shared the below chart in the wake of the BTC price breaking past $10,000, attaching the comment:

“Here it is on a log scale… this is the biggest chart pattern break out thus far…”

The chart depicts that Bitcoin is now trading above the downtrend that formed at the $20,000 all-time high.

The technical downtrend marked the $14,000 2019 high, along with the $10,500 high seen earlier this year.

Pal did not explain the significance of this technical breakout during this thread, but he has in a recent research note.

In the April newsletter from his macroeconomic analysis firm Global Macro Investor obtained by NewsBTC, he wrote that “I think it hits $100,000 in the next two years alone” in reference to a chart almost identical to the one above.

The only difference was that when he shared the chart, it had not broken past the resistance.

Bitcoin’s crucial technical breakout isn’t the only reason why the former Goldman Sachs executive is bullish on the cryptocurrency.

Pal remarked in a Twitter thread published in early May that the confluence of record-level fiscal and monetary stimulus, coupled with the Bitcoin halving, is setting BTC up for success in the long run:

“This is confirmed by stock to flow models by PlanB and the breakout has happened almost exact at The Halvening. Add to that HUGE the ENTIRE worlds central banks are […] printing money like CRAZY. quantitative easing fiat meets the hardest money that automatically quantitatively tightens.”

This led him to the conclusion that Bitcoin currently has one of the “best set ups in any asset class I’ve ever witnessed…technical, fundamental, flow of funds and plumbing.”

While he has floated the $100,000 price target, the investor has mentioned a $10 trillion market capitalization in the past.

Speaking to Max Keiser, Pal said that Bitcoin could eventually rival the market capitalization of gold, which sits around $9 trillion:

“If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process.”

For context, a $10 trillion market capitalization corresponds with more than $500,000 per coin. In other trending Bitcoin News today:

Bitcoin (BTC) Soars Above $10,000 – Here’s What Will Trigger ‘Insanely Bullish’ Breakout According to Analyst Josh Rager

Crypto strategist Josh Rager tells his 72,000 Twitter followers that BTC is close to making a move that will have huge bullish implications.

However, the bulls have a bit of work left to do.

“BTC breaking above daily resistance. [Bitcoin is] showing no mercy to bears and is on route to try to break above $10,300. Closing above $10,370 would be insanely bullish.” 

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:

Add to that the ENTIRE worlds 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.

— Raoul Pal (@RaoulGMI) May 8, 2020

$BTC breaking above daily resistanceShowing no mercy to bears and is on route to try to brak above $10,300s

Closing above $10,370 would be insanely bullish pic.twitter.com/0l8YTrJ6Uy

— Josh Rager 📈 (@Josh_Rager) June 1, 2020

https://t.co/j8wdrwiVbD

1/ With $BTC back over $10,000 for the first time since a brief scrape above this threshold in early May, we are revisiting our long-term key triple volume measurement to analyze the health of both the on-chain and social metrics that are vital to justify pic.twitter.com/nYQjVUOeAS

— Santiment (@santimentfeed) June 2, 2020

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

An increasing amount of Bitcoin is being accumulated by institutions.

This much was made clear on Tuesday, when Stone Ridge Asset Management revealed to Forbes that it had picked up 10,000 BTC, representing one percent of its assets under management.

Investors think that further institutional adoption of the cryptocurrency could result in the Bitcoin price going parabolic.

Bill Barhydt, CEO of Abra and a former employee of the CIA and Goldman Sachs, recently said that if only 5% of the liquid assets that the top nine firms in the S&P 500 own were to enter Bitcoin, it would surge:

“9 companies alone in the S&P 500 are sitting on close to $600 billion in cash and short term investments. 5% of that moving into Bitcoin (or $30 billion) would likely 5x the price of Bitcoin given the lack of sellers. (3/6).”

While this math may not add up in your mind, take fiat amplifiers into account.

The amplifier is a concept that for every fiat dollar that is invested in Bitcoin or cryptocurrencies in general, the market capitalization of the space will grow than more than $1.

Estimates suggest that the fiat amplifier is anywhere from two to 25 times, depending on what phase of the market cycle cryptocurrencies are in.

In periods where investors are expecting upside, the fiat amplifier grows as investors don’t want to sell their coins too early.

Barhydt’s analysis of the institutional adoption situation comes as he is seeking to increase his personal exposure to Bitcoin.

He said that he is “considering doubling the allocation of Bitcoin in my personal portfolio to 25%.”

Explaining why he thinks this is a good idea, he pointed towards inflationary trends:

“Given the acceleration of currency inflation and the likely price inflation to follow this seems like a better weighting than my current 12%.”

He added that the contacts he has spoken with say that returns in legacy markets such as equities are likely to be “muted in the next five years.”

This trend may have the effect of driving capital into alternative assets that may be able to generate healthy returns such as gold and Bitcoin.

The comments he made are reminiscent of those made by a number of other investors in the space, who have dramatically increased their exposure to Bitcoin amid the ongoing macro backdrop.

Raoul Pal, CEO of Real Vision, for instance, has over 50% of his liquid net worth in Bitcoin.

In other trending Bitcoin News today:

Max Keiser Predicted Hash Wars: A New Front for Countries

The concept of fiat money can be said to be one of the best inventions of mankind.

However, that resulted in a huge wealth gap among the nations and people around the world.

It is no secret that the world’s top 10% richest hold 85% of the total wealth whereas the remaining 90% of people own only 15% of the total wealth.

Then came the year 2009 and we saw a rise of a new concept of money – a cryptocurrency called Bitcoin.

With the invention of cryptocurrency, we’ve stepped in a brand new world.

The first cryptocurrency Bitcoin revolutionized the whole concept of money, the way to transact it without the need of a third-party and a trustless system. 

With the unprecedented rise of Bitcoin’s value in the past decade, the countries around the world started noticing the remarkable effect of cryptocurrencies on the global economy.

That opened a new gate – the fight for Bitcoin dominance. Hence the hash wars. To understand what hash rate is, basically it’s a measure of the processing power of the Bitcoin network.

So, whoever has more processing power on the Bitcoin blockchain network has more dominance over Bitcoin and its future.

Follow Us:

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

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

🔥 Subscribe on Spotify: http://spotify.cryptonewsalerts.net

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

How Bitcoin Could Surge 500% Amid Rising Institutional Adoption

https://cryptotop10.org/top-10/hash-wars-a-new-front-for-countries/

https://www.fidelitydigitalassets.com/articles/bitcoin-as-alternative-investment?ccmedia=owned&ccchannel=social&cccampaign=BIT_ALT&cctactics=twitter

https://decrypt.co/44880/bitcoin-should-be-5-percent-your-investment-portfolio-fidelity

🥇 To open an IRA with iTrustCapital and get 1 month FREE click this link: http://itrust.cryptonewsalerts.net

Walmart Bitcoin mass adoption is here as the retail giant has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to install 200 BTC ATMs in its stores across the U.S. 

Although the pilot includes only 200 kiosks, the broader launch plans to eventually see the installation of 8,000 Bitcoin ATMs across the country, according to Bloomberg. There has been no further details on timelines as of yet.

In other trending Bitcoin News today: Crypto analyst TechDev shares a  macro chart which suggest Bitcoin tops out at $290,000 by the end of January.

“Back to the macro. Update on the mind-bending gold fractal… For those unfamiliar, this marks the 54th straight week that Bitcoin has followed gold from 1970-1979. Both local topped at exactly 1.2T MC (Market Cap). If it continues, top at 290K end of January.”

🔥 Subscribe on Spotify: http://spotify.cryptonewsalerts.net

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

Back to the macro. Update on the mind-bending gold fractal…

For those unfamiliar, this marks the 54th straight week that #Bitcoin has followed gold from 1970-1979.

Both local topped at exactly 1.2T MC.If it continues, top at 290K end of January.

Will we finally deviate? pic.twitter.com/Dcyeg4EHJL

— TechDev (@TechDev_52) October 22, 2021

https://cointelegraph.com/news/200-bitcoin-atms-installed-at-walmart-with-plans-for-8000-in-total

https://www.coindesk.com/markets/2021/10/20/valkyrie-secures-go-ahead-for-bitcoin-futures-etf/

https://cointelegraph.com/news/paypal-co-founder-peter-thiel-says-he-underinvested-in-bitcoin

https://cointelegraph.com/news/bitcoin-extends-correction-as-ethereum-sees-picture-perfect-rejection-at-all-time-highs