BITCOIN SENTIMENT COMPARABLE TO A FUNERAL!! ETHEREUM PRIMED FOR MONSTER RALLY VS BTC!!

➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net

Veteran analyst Tone Vays says an epic Bitcoin (BTC) rally is in store if the king of crypto can overcome key areas of resistance.

In a new episode of Trading Bitcoin, Vays says the TD Sequential indicator, which traces a series of price points to identify potential breakouts, suggests the Bitcoin price may break out to $9,000 in the short term.

But despite the bullish indicator, Vays says he’s not betting on this coming to fruition due to a strong line of resistance at $8,000. (Which FYI we just hulk smashed this morning)

“Can we make it to [$9,000]? Anything is possible… The biggest reason why that’s a little too optimistic is this behemoth of triple resistance of the 128-day moving average, the 200-day moving average and a fibonacci 62% line [at $8,000]. That is a monster.”

If Bitcoin can make it to $9,000, Vays says the last line of resistance is a descending triangle that currently stands at $9,500. If that happens,

Vays says the highly discussed stock-to-flow model from the anonymous analyst PlanB – which forecasts that BTC will hit anywhere from $100,000 to $288,000 by 2024 – will suddenly be on the table.

Vays also points to John McAfee’s infamous bet that BTC will hit $500,000 this year.

“The moment we break above this red line [at $9,000] PlanB is going to be right. And PlanB has some very optimistic targets.

In other trending Bitcoin News today:

Crypto Strategist Nicholas Merten Says Bitcoin (BTC) Ready to Pop As Halving Approaches

Merten expects Bitcoin to maintain its bullish momentum and trend toward $9,000, as BTC continues to form a giant wedge that dates back to the second half of 2017.

But the strategist points out that Bitcoin’s signature volatility is going nowhere.

“It’s likely that as we go into the halving event, sure we are going to see an increase in volatility. It’s an important point to keep in mind. We are going to definitely see a lot of jitter, but I think we’re going to continue this trend up here, and it’s going to pick up momentum as we go into the halving event to where we’re going to probably be up into around the $9,000 range, if not the upper $8,000 range.”

After the halving, Merten believes Bitcoin will give up some of its gains in the short term, but continue to maintain its bullish steam in the bigger picture.

Although he’s careful to point out that anything can happen in the current global economic climate and that BTC has proved many traders wrong in the past, Merten says Bitcoin’s historical logarithmic growth curves, significant lows and significant resistance suggest BTC is gearing up for a new cycle to around $100,000.

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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-hits-8k-erasing-coronavirus-crash-13-days-till-halving

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

The crypto-focused venture firm Pantera Capital just released its latest outlook on Bitcoin and the overall crypto markets.

In a note to investors, CEO Dan Morehead says he expects an ongoing tidal wave of money printing to boost BTC as investors search for assets with a fixed supply.

“That tsunami of money will have a large impact on many things. In our markets it seems inevitable that it will push up the price of fixed-quantity things like bitcoin. If there are trillions more paper dollars, the law of supply and demand implies much more paper money to buy the same amount of cryptocurrency.”

Pantera’s analysis shows the Bitcoin price targeting $150,000 by August of next year.

As for the altcoin market, Pantera co-chief investment officer Joey Krug points out a number of coins have outperformed BTC’s 34% gains this year, including a 98% rise in 0x (ZRX), a 97% surge in Augur (REP) and an 88% jump in Ethereum (ETH).

It’s a trend that Pantera expects to continue in a new bull cycle.

“During cryptocurrency bull markets, we expect assets outside of bitcoin (alt-coins or alts) to outperform… Historically, alts haven’t outperformed until mid to late in the bull cycle.

For instance, from Jan 1, 2016 to Dec 31, 2016 bitcoin’s share of the market dropped from 91% to 87%. But by the end of 2017 it was down to 38%. It’s currently sitting at 65%.

The implication here is that over time we expect the performance gap between alts and bitcoin to widen over the course of the next year, with alts outperforming.”

According to Krug, another boom for initial coin offerings is unlikely to happen, and coins will need to prove their utility this time around.

The firm’s multi-currency hedge fund is currently outperforming BTC by about 20%.

In other trending Bitcoin News today:

Billionaire Chamath Palihapitiya Says He Bought 1,000,000 BTC in 2013, Warns Bitcoin’s Success Will Spell Global Economic Catastrophe

Chamath Palihapitiya views Bitcoin as financial doomsday insurance.

The 43-year-old billionaire, venture capitalist and chairman of spaceflight company Virgin Galactic says on the Unchained Podcast that investors should apportion 1% of their portfolio to BTC and hope it never pays off.

“I just think that if people have been hard working, with their heads down, they should have an opportunity to make sure that they don’t get wiped out if the government itself just continues to make a string of bad decisions that then have rising consequences. And Bitcoin, to me, is the only thing that I’ve seen so far that is really fundamentally uncorrelated to that decision-making process and to that decision-making body. 

Because at the end of the day, any other asset class – equities, debt, real estate, commodities – they’re all tightly, tightly coupled to a legislative framework and an interconnectedness in the financial markets that brings together many of the governments that are sort of behaving this way. And so it’s almost like a bet against the ruling class in some ways, and making sure that you have a small amount of insurance…

Insurance is something that pays off 1,000 bucks to a buck. You want these massive, massive asymmetric payoffs, because you want to be sure that a small amount of insurance can basically make you whole. And that’s why I think that you should just take 1% of your portfolio, put it in Bitcoin, never look at it… and hope that that 1% goes to zero.” 

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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/4-reasons-bitcoin-price-suddenly-slid-below-9k-liquidating-55m

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With Bitcoin hovering above $50,000, widely followed crypto analyst and trader Pentoshi is predicting a wild Bitcoin rally, with the leading cryptocurrency now primed to print a massive green daily candle.

“$49,893 as posted yesterday was the point of breakdown in May. Right now acting as support. BTC in my opinion trapping sellers and about to put a green candle where the sun doesn’t shine for bears. $5,000 candle in a day seems like something that’s being built.”

As for his bull cycle target for Bitcoin, Pentoshi believes that BTC could rally to as high as $180,000, marking a 250% upside potential from its current value of around $51,000.

“Vertical accumulation innit ‘colorized’ 2012-2021.”

In other trending Bitcoin News today: On Tuesday, El Salvador will officially begin using Bitcoin as its national currency alongside the United States dollar.

Despite heavy warnings and even demands to abort the move from the likes of the International Monetary Fund and others, the country’s president, Nayib Bukele, has held firm. Now, Bitcoin and its adoption will begin a major new experiment.

“BREAKING: At the same time El Salvador’s bitcoin bill will become law, at 3pm September 7th, a huge Brazilian Reddit community, with more than 3 million members, will buy $30 in BTC each, remembering that Sep 7th is Brazil’s independence Day. More and more users are joining.”

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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:

https://cointelegraph.com/news/btc-becomes-legal-tender-in-el-salvador-5-things-to-watch-in-bitcoin-this-week

https://cointelegraph.com/news/conservative-btc-supply-shock-metric-now-says-bitcoin-should-cost-at-least-55k