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Popular analyst and trader Michaël van de Poppe is providing his take on the latest market correction while naming a set of altcoins that have caught his attention.
âItâs great to see the strength on altcoins. Yes, weâve got some news regarding Bitcoin and Elon Musk (Tesla CEO), but essentially, not much has changed. Markets are still bullish.â
In other trending Bitcoin News today: Mark Cuban Responds to Elon Musk, Says Bitcoin and Crypto Will Benefit Society and the Environment!
Dallas Mavericks owner Mark Cuban says his NBA franchise will continue to accept Bitcoin as payment despite Elon Muskâs recent announcement that Tesla will not. Cuban tells his 8.4 million Twitter followers that, as a store of value, BTC is in fact a better environmental alternative to gold.
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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/altcoins-pop-while-bitcoin-looks-for-support-near-50-000
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MASSMUTUTAL JOINS THE BITCOIN CLUB WITH 0M PURCHASE!! 'INSANELY BULLISH' 10X BTC PREDICTION!!
âĄïž Leverage OPM (Other Peopleâs Money): http://opm.cryptonewsalerts.net
This might be the most important Bitcoin (BTC) news of 2020, says Mike Novogratz.
Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in Bitcoin for its general investment account.
According to a report from The Wall Street Journal, the company purchased the Bitcoins â purportedly 5,470 BTC given the current price of $18,279 â through New York-based fund management company NYDIG.Â
MassMutual also reportedly bought a $5 million equity stake in the firm, which holds $2.3 billion in cryptocurrency.
MassMutual told Cointelegraph that the investment is part of a broad strategy, with the goal of achieving âmeasured yet meaningful exposure to a growing economic aspect of our increasingly digital world.â The company clarified that:
âOur $100 million investment in Bitcoin through NYDIG will represent .04 percent â or less than one tenth of one percent â of our total GIA.â
The purchase comes as major institutional players are adopting Bitcoin for the first time and going longer on crypto investments. In September, business intelligence firmÂ
MicroStrategy purchased more than $425 million in Bitcoin as a reserve asset. Earlier this week, the company announced it would invest the proceeds from a $400 million securities offering into Bitcoin as well.
MassMutual told Cointelegraph that the company oversees more than $235 billion in its general investment account as of Sept. 30.
In other trending Bitcoin News today:
âInsanely bullishâ: Glassnode CTO Predicts BTC Price Will Rise 10X From Here
The chief technical officer of crypto market data aggregator Glassnode, Rafael Schultze-Kraft, has described a slew of Bitcoin (BTC) market indicators as âinsanely bullish,â and predicted prices are set to increase by more than 10 times.
On Dec. 9, Schulze-Kraft tweeted a thread providing the basis for his ultra-optimistic prediction, presenting six of âthe most important on-chain market indicators that are currently hovering at the same levels they were at the start of 2017.â
Each of Schulze-Kraftâs predictions (or estimates) see Bitcoin breaking into six figures, with all but one suggesting that BTC will exceed $200,000.
For each of the indicators, Schultze-Kraft measured the gains produced when the metric moved from a similar position in 2017 until it posted an all-time high later that year. He then multiplied Bitcoinâs current price by the same percentage increase.
Schultze-Kraft noted that Bitcoinâs Net Unrealized Profit/Loss, or NUPL â âthe difference between unrealized gains and losses based on when coins last moved on chainâ â has climbed back up to 78% of its 2017 ATH.
Bitcoinâs price gained 1,400% to its peak, as NUPL ascended from its current level to all-time highs in 201. If the same scenario played out, Kraft estimates that Bitcoinâs price could reach $286,000 this cycle.
BTCâs Market Cap to Thermocap ratio â which assesses Bitcoinâs price premium relative to miner expenditure â is currently sitting at just one-quarter of its 2017 high. In 2017, Bitcoinâs price gained 625% as the metric rose to its all-time highs, suggesting BTC could tag $138,000 in future.
Bitcoinâs MVRV Z-Score â which seeks to identify when Bitcoin is âover/undervalued relative to its âfair valueââ â currently sits at 34% of its 2017 top, the ascent to which accompanied a 1,150% price gain. Should BTC rally with the same strength as in 2017, Kraft-Schulze estimates Bitcoin will be worth $240,000 each.
Kraft-Shulze identified that metrics looking at longer-term hodler behavior suggested even higher price targets.
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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:
1/ Where are we in the #Bitcoin market cycle?A look at some of the most important on-chain market indicators.
TLDR: Insanely bullish, most metrics are far from the top. If things develop anything like 2017, we could see more than 10x $BTC from here.
A THREAD đ pic.twitter.com/d1jU0h5fxA
â Rafael Schultze-Kraft (@n3ocortex) December 8, 2020
https://cointelegraph.com/news/new-institutional-player-massmutual-purchases-100m-bitcoin
https://cointelegraph.com/news/insanely-bullish-glassnode-cto-predicts-btc-price-will-10x-from-here
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HEREâS WHY BITCOIN COULD BE HEADING TO $1,000,000, SAYS KRAKENâS DAN HELD!! BTC PRICE BREAKS $50K!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Dan Held, growth lead at crypto exchange Kraken, is outlining the catalysts that he believes could ignite a Bitcoin âSupercycleâ, catapulting the BTC price to $1 million.
In a new episode of the What Bitcoin Did podcast, Held explains why he believes the current bull market could grow exponentially larger than Bitcoinâs boom cycles in 2013 and 2017.
âWhen I look at these cycles though, what makes me very excited about this upcoming one, which could be⊠a supercycle, is that this time, is different. The 2013 bull run, the 2017 bull run, it was mainly based on retail-driven speculation. The macro markets, the rest of the world, was doing fine. It was a large bull run and these were mainly speculative cycles run by retail with a very shaky infrastructureâŠ
With this bull run, weâve got a lot of different things lined up.â
According to Held, Bitcoinâs primary use case as a store-of-value asset was put into the spotlight by the Covid-19 pandemic amid the rampant money printing of governments across the globe.
Covid was the catalyst moment that makes Bitcoin shine. With the Covid lens when we look at Bitcoin, for most people who had dismissed it previously, now it makes sense. And thatâs where we see this echoed by the institutions. The managers of all the wealth in the world, the large portion of wealth in the world, they look at Bitcoin as a store of value, as a gold 2.0⊠And that is a huge value for the world.Â
As the governments had their response to Covid-19 being money printing, that will devalue these currencies eventually and folks are looking at the 21 million fixed hard cap of Bitcoin. They are looking at this monetary policy, they are looking at Bitcoinâs construction, and how decentralized it is. Now you can store value in it and no one can take that value away from you, as this incredible lifeboatâŠ
So Bitcoinâs demand, or people believing in Bitcoin, that market has grown tremendously to where now we have institutions.â
Held adds that the improvement in cryptocurrency infrastructure, which has made the flagship crypto asset more accessible to retail investors, is another factor that could continue fueling demand.
âWe also have a much more vast retail customer segment. So retail buyers can now buy Bitcoin on PayPal, Robinhood, Cash App. They can buy it everywhere. And eventually, thatâs going to reach brokerages like Fidelity, like within a retail brokerage Fidelity or E-Trade and Interactive Brokers. Eventually, youâre going to be able to buy Bitcoin everywhere, which means Bitcoin can now tap into all demand that wants it.â
For the current bull run to qualify as a supercycle, the Kraken Bitcoin needs to appreciate over 20x from its current value of $48,944.
In other trending Bitcoin News today:
Bitcoin Breaks $50K: Why BTC Price Is Primed For Another Leg Up
The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major exchanges, including Coinbase and Binance Futures.
CryptoQuant CEO Ki Young Ju explained that Bitcoinâs struggle to break past $50,000 is about âCoinbase whales (USD) vs. Stablecoin whales (USDT).â
Ki emphasized that there was a negative Coinbase premium at the time Bitcoin rejected $50,000 in the morning. For BTC to cleanly break past it, he explained that the negative premium has to be âcooled down.â
Since the initial rejection, the Coinbase premium has stabilized, reaching parity with Binanceâs Tether price.
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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:
Number of the day: 4,000,000,000,000$4T of cash sitting in US non-financial corporations.$4T is also Gold’s financial cap.
$4T is also #Bitcoin‘s projected cap for end of this year on current models.
â Willy Woo (@woonomic) February 16, 2021
https://cointelegraph.com/news/bitcoin-futures-break-50k-why-btc-price-is-primed-for-another-leg-up
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BITCOIN WHALES QUIETLY MASS ACCUMULATE!! ETHEREUM ACCELERATING FASTER THAN BTC, SAYS MACRO GURU!!
đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Bitcoin whales are busy buying BTC now that the Bitcoin price of the top crypto has dropped from an all-time high of nearly $65,000 to below $40,000. According to the crypto analytics firm Santiment, Bitcoin addresses holding 100 to 10,000 BTC added a total of 90,000 BTC in the last 25 days â currently valued at $3.38 billion.
The firm says this group of BTC holders now accounts for nearly half of the circulating supply of the benchmark cryptocurrency. âThey now hold a 7-week high of 9.11 million BTC, currently worth a total of $366.89 billion at this time, and 48.7% of the total Bitcoin supply.â
In other trending Bitcoin News Today: Ethereum Clear Front Runner in Crypto Adoption, Accelerating Faster Than Bitcoin: Macro Guru Raoul Pal
Real Vision founder and macro analyst Raoul Pal says Ethereum is beating Bitcoin in the race for widespread user adoption. In a new interview on UpOnly, Pal highlights the key criteria underscoring Ethereumâs popularity and an adoption rate that is far outperforming Bitcoin.
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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:
For the first time in 50 yrs, since the world went on a fiat standard â with no countryâs currency backed by Gold â a country is now backing its currency with something scarcer and harder than Gold. The fiat currency era is over. A global #Bitcoin standard is emerging. pic.twitter.com/uE1DAO1gyP
â Max Keiser (@maxkeiser) June 18, 2021
https://cointelegraph.com/news/bitcoin-may-lose-30k-price-level-if-stocks-tank-analysts-warn
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