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

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Bitcoin Price Just Surpassed $9,000: It Means a Full-Blown Crypto Rally is Just Beginning

BTC price prediction models vary greatly but one analyst that has been correct on numerous occasions has plotted a path to $70,000 Bitcoin (BTC) by the end of the year.

Popular crypto twitter commentator, ‘Whale Panda’, pulled up a Bitcoin price prediction chart drawn back in 2018 by Tradingview user, PentarhUdi.

Despite being over 2 years old, PentarhUdi’s work predicted the BTC price movements to date flawlessly.

The crypto capitulation in December 2018 was predicted as BTC fell to $3,200.

The top of around $14k in the middle of last year was correctly called, as was the 50% pullback into the $6k region.

His prediction for Bitcoin price at the moment is spot on at just below $9k.

If that uncanny accuracy continues to apply Bitcoin should continue to climb throughout the year, breaking its all-time high in June just after the halving.

Following that, prices could blast all the way up to $70k by the end of 2020.

Several aspects could influence such a move including the BTC halving which many assert has not been factored into current prices.

Add to that the premise of further geopolitical and economic tensions and there is the recipe for a bull market. Once bitcoin reaches the five figure level again the FOMO will escalate and new capital should start flowing in.

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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 UptrendFixed range Volume Profile shows the importance of Point of Control (POC) for a major range to act as support 2018 POC held as support at $6,400sIMO, we should see the 2019 POC act as support at $10,100

= Price should stay above $10,100 on its way to new ATH pic.twitter.com/VkpUYqTYrO

— Josh Rager 📈 (@Josh_Rager) January 17, 2020

📈 $BTC Mean Hash Rate (1d MA) just reached 1-year high of 125,058,646,627,207,626,752.000(Previous 1-year high of 122,916,246,977,853,194,240.000 was observed on 05 January 2020)

View metric:https://t.co/8zrAyUe7NJ pic.twitter.com/cHSg2O7Iru

— glassnode alerts (@glassnodealerts) January 17, 2020

Notable underperformance if looking at returns of the days preceding the week before New Year. i.e. for 2020, Daily Avg 5 days preceding NY-7 would represent the daily average return between Jan/12 and Jan/17.Something to watch out for in 2021.

h/t @MapleLeafCap pic.twitter.com/C3uI0Wm7TK

— Alex Krüger (@krugermacro) January 17, 2020

Bitcoin Price Should Stay Above $10,100 On Its Way To ATH

How Bitcoin Could Hit $70,000 By The End Of 2020

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The Bitcoin price could hit $100,000 as soon as in 2020 based on Elliot Wave Theory, according to Silk Road founder Ross Ulbricht.

“Thus, we have a price and target for the end of wave I of ~$100,000 some time in or near 2020.”

Ulbricht claims that he has several Bitcoin charts sent him to a prison cell on a daily basis.

It takes about a week to put his letters online, which makes them slightly out of date.

However, he states that it doesn’t matter since he only focuses on the coin’s long-term price action.

“The charts we will be looking at show the price of a bitcoin in US dollars over time.” 

According to Ulbricht, the overall trend for Bitcoin is still up (despite a severe price correction). 

The first cycle is divided into five waves that also feature “intermediate” waves.

The end of the fourth wave market the bottom of the 2014-2015 bear market when the price of Bitcoin plunged to $175 in January 2015 before gearing up for its parabolic rise to the current all-time high (ATH) that was conquered back in December 2017.

Ulbricht further explains that the ATH could mark the end of the third wave while another bear market that started in January 2018 could be the fourth wave. 

“If the ~$20,000 peak is the end of wave (3), then the correction pattern we are in (or just came out of) is wave (4), and we can expect wave (5) to take us to new all-time highs.” 

However, if the fifth wave is still unfolding, the next bull run could last until February 2021 and could ultimately take the price of Bitcoin to $100,000 as early as in 2020. 

In other BTC news today:

Bitcoin’s scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate.

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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://www.coindesk.com/bitcoin-halving-could-leave-price-at-20k-50k-hedge-fund-manager-says

https://u.today/bitcoin-price-predicted-to-skyrocket-to-100000-in-2020-by-silk-road-founder-ross-ulbricht

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The CEO of Microstrategy, Michael Saylor, says that Bitcoin (BTC) will emerge as a $100 trillion asset class and will grow 100X from where it is today. 

“It’s pretty clear that Bitcoin is winning, gold is losing … and it’s going to continue … It’s pretty clear digital gold is going to replace gold this decade.

At the end of the decade it (BTC) will have flipped gold, and then it will flip monetary indexes, a little bit of bonds, a little bit of real estate, a little bit of equity, and emerge as a $100 trillion asset class. So, 100X of where it is right now.”

In other trending Bitcoin News today: Bitcoin, Ethereum and Four Altcoins Witnessing Mass Adoption As Crypto Market Targets $200,000,000,000,000 Market Cap, Says Macro Guru Raoul Pal!

In a new interview on business and entrepreneurial YouTube channel Goko Group, Pal says he expects the total crypto market to rise 100x in the coming years on the back of exponential adoption. 

“[Crypto] is the fastest growing adoption in any technology in all recorded history. We’re going to go from 150 million users to a billion users in three and a half years. It is going from $2 trillion to $200 trillion as an asset class probably in 10 years.”

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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://news.bitcoin.com/microstrategy-ceo-bitcoin-100-trillion-asset-class-btc-grow-100x/

https://micky.com.au/bitcoin-evangelist-max-keiser-says-cbdcs-give-the-state-greater-powers-of-surveillance/

https://cointelegraph.com/news/el-salvador-to-inaugurate-bitcoin-city-backed-by-1b-bitcoin-bonds