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Vinny Lingham, cryptocurrency investor and the CEO of CivicKey, asserted that thereâs a good likelihood that the Bitcoin price will soon trade at $15,000 per BTC.
He made this comment in reference to how $10,000 ârepresents strong supportâ:
âIt looks to me that Bitcoin is poised for another leg up, with an overshoot above $15k, but then a retrace and heavy consolidation around $14k for a few weeks at least. I doubt this sub-$12k price holds for much longer and $10k represents strong support right now.â
Discussing the efficacy of his calls, Lingham noted to a commenter that he has rightfully called prior price action.
He added that he personally thinks that Bitcoin flips bullish on a macro scale if it converts $12,000 into support:
âIâm not a permabear or a permabull â I called the bubble and I called the bear market. The bear market is almost over, if/when we break and hold $12k. So yes, Iâm turning bullish.â
This sentiment is in line with a number of technical traders within the space. One historically accurate analyst, for instance, who predicted BTCâs V-shaped reversal in March says a rally to $17,000 is imminent.
Thatâs not $15,000, of course, but thereâs a growing sentiment that Bitcoin will gap higher.
The rally towards $15,000 or $17,000 is expected to be part of a longer-term uptrend, spurred by a confluence of fundamentals.
Raoul Pal, CEO of Real Vision, recently commented that Bitcoin is likely to rally 50 to 100 times this market cycle due to macro trends.
Responding to Jerome Powellâs comments, Pal noted that the Federal Reserve seemingly wants anything but deflation.
This, the investor explained, will create market pressures over time that will drive capital to Bitcoin and gold at record speed.
The Winklevoss Twins, co-founders of Gemini, have echoed the optimism.
They also noted that macro factors are likely to drive vast amounts of capital to Bitcoin in upcoming years.
In other trending Bitcoin News today:
After Riding YFIâs 108,000% Tidal Wave, Analyst Josh Rager Bullish on Five Nascent Crypto Assets
Bitcoin trader and strategist Josh Rager is hopping on the decentralized finance (DeFi) bandwagon.
Rager invested in Yearn.Finance (YFI) early.
The coin has surged from $34.53 on July 18th to a high of $37,621 on Sunday â a whopping 108,000% increase.
The analyst now predicts the coin will continue to soar and reach a price of $100,000.
Meanwhile, the analyst tells his following of 81,000 people on Twitter that he plans to hold on to five other nascent crypto assets that he believes offer upside potential.
âStill holding XAMP, TOB, YFL, JGN, & TACO. The altcoins I share are the altcoins I intend to hold for a while or take profits slowly overtime â not dump on people.â
Rager puts the spotlight on Antiample (XAMP) and Tokens of Babel (TOB) as both assets are getting a lot of attention in the Uniswap protocol.
âXAMP [and] TOB are doing great on vol & users going on 2 weeks+ now just on Uniswap alone. The first major exchange to list them both will likely reap some major rewards from users and fees.â
As for the other coins on Ragerâs list, Juggernaut (JGN) is a new breed of token that allows businesses to create custom synthetic tokens and take full advantage of the DeFi infrastructure.
Meanwhile, YF Link (YFL) is a fork of the red-hot Yearn.Finance protocol.
The project leverages LINK (Chainlink) and allows LINK marines to directly participate in the DeFi craze through yield farming.
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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:
It looks to me that #Bitcoin is poised for another leg up, with an overshoot above $15k, but then a retrace and heavy consolidation around $14k for a few weeks at least. I doubt this sub-$12k price holds for much longer and $10k represents strong support right now.
â Vinny Lingham (@VinnyLingham) August 28, 2020
Still holding $XAMP $TOB $YFL $JGN & $TACOThe altcoins I share are the altcoins I intend to hold for a while or take profits slowly overtime â not dump on people
In fact, you don’t hear about most the altcoins I trade because they’re high risk and I don’t want you losing money
â Josh Rager đ (@Josh_Rager) August 24, 2020
PREDICTION? FED out of bullets: needs inflation. Zero int not working. Q: What will FED do? A: Buy GOLD not T-bills? FDR did this in 1933 buys gold @$28 raised price to $35. Will Fed buy gold for $7000 to cause inflation? Gold silver Bitcoin win. Savers lose. What do you think?
â therealkiyosaki (@theRealKiyosaki) August 30, 2020
Hereâs Why This Crypto CEO Thinks Bitcoin Soon Hits $15,000
https://dailyhodl.com/2020/08/30/after-riding-yfi-108000-tidal-wave-bitcoin-analyst-josh-rager-bullish-on-five-crypto-assets/
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