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An emerging crypto strategist and trader is unveiling a huge price target for Bitcoin (BTC) in the coming months as he believes the crypto asset is mirroring its 2017 bull market.
Based on the crypto analystâs chart, Bitcoin price can skyrocket entering into a mania phase here in Q4 of 2021 with a target range of $450K â $520K per BTC with the next bear market low range between $65k â $75K.
In other trending Bitcoin News today: Payments Giant Mastercard To Allow All Merchants and Banks To Integrate Crypto Into Their Services!
Mastercard is massively expanding crypto access for businesses as well as consumers.
In a new partnership with digital asset firm Bakkt, the payments giant is launching a range of options that will allow merchants and shoppers to utilize crypto in a number of different ways.
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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/south-korean-pension-fund-to-invest-in-bitcoin-etf-report
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BLOOMBERG: BITCOIN PRICE ACTION REMINISCENT OF 2015 BEFORE HISTORIC 100X BTC BULL CYCLE BEGAN!!
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Bitcoin may be breaking free from its correlation with the stock market and gearing up for a parabolic 2021, according to a new Crypto report from Bloomberg.
The financial news outletâs latest monthly outlook on crypto calls BTC a âcaged bullâ that could be on the cusp of a massive long-term breakout.
âBitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration for the firstborn crypto and may be only a matter of time unless something we donât foresee trips up the trend of greater adoption and demand vs. constrained supply.
Favorable macroeconomics, akin to those buoying gold, supports the digital store-of-value, notably vs. the oversupplied broader crypto marketâŠ
Bitcoin may be in early days of ending its constraining relationship with the Nasdaq 100 Stock Index, in our view.
Technically, the Bitcoin-to-Nasdaq ratio near 1.2 on Oct. 27 has extended above 1.1 resistance that has held for about a year.â
According to the report, Bitcoinâs resistance at $10,000 may morph into resistance at $20,000 next year.
The report cites Bitcoinâs dwindling supply and ultimate cap of 21 million coins as a key driver placing the leading cryptocurrency on a positive trajectory.
It also names steady BTC buys from the institutional crypto asset manager Grayscale as a factor supporting Bitcoinâs price.
Bloomberg analyst Mike McGlone says Bitcoinâs 2020 price action is also reminiscent of 2015, ahead of a bull cycle that ultimately saw BTC rise by 100x.
â2020 Bitcoin may be 2015 launchpad deja-vu. Some key technical indicators portend a strong up-year for Bitcoin in 2021. In 2020, the benchmark crypto dipped below its 50- month moving average and 180-day volatility dropped below 40% at the start of November.
This price foundation pair was last matched in 2015 as Bitcoin bottomed near $200; it peaked about 100x higher in 2017. We see Bitcoin volatility declining with natural maturation and little chance of similar high-velocity appreciation, but the indication is clear: Unless something significant trips it up, the cryptoâs price is ripe to advance in the coming years.â
In other trending Bitcoin News today:
â3 Primary Reasons Why Ethereum (ETH) Could Hit $500 in Q4â
A confluence of bullish fundamental and technical indicators sees Ethereum rallying upward towards $500 in the fourth quarter.
The second-largest blockchain asset by market capitalization has rallied by more than 200 percent in 2020, with its price trading just shy of $490 in early September.
Nevertheless, its uptrend paused as traders migrated to Bitcoin, the flagship cryptocurrency that earlier gained entry into the investment/service portfolios of significant corporations (Square, MicroStrategy, PayPal, etc).
#1 ETH/BTC Support
A slowdown in Ethereumâs dollar-based uptrend finds headwinds in the ETH/BTC chart.
The pair, which pits Ethereum directly against Bitcoin, is trading lower since August 31.
As of Thursday, it was down by more than 32 percent from its YTD high of 0.0406 sats.
#2 Ethereum Ascending Triangle
Ethereumâs correction from its YTD high followed by a subsequent pullback to the upside left its price in a consolidation channel.
That range, with a fixed horizontal resistance line and a trail of higher lows, made an Ascending Triangle pattern.
#3 Fundamentals
The reason why Ethereum could perform per its bullish technical expectations is a solid fundamental catalyst.
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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:
#Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply pic.twitter.com/w742J7bXfC
â Mike McGlone (@mikemcglone11) November 4, 2020
https://assets.bbhub.io/promo/sites/12/917428_Crypto-Nov2020Outlook.pdf?link=button-header
https://cointelegraph.com/news/bitcoin-hits-14-7k-3-reasons-this-rally-may-see-new-all-time-highs
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BITCOIN WILL REACH $150K ON THIS DATE, SAYS TOP CRYPTO TRADER!! $288K BTC PRICE âSTILL IN PLAYâ!!
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Crypto analyst and influencer Tyler Swope is unveiling the exact date on which he believes Bitcoin will hit his target of $150,000.Â
âThe top for this cycle will be between $100,000 to $200,000 by December 2021. This is and has been my prediction for a long time. But if I had to give you a specific number and day, how about right here: $150,000 by December 15th, 2021.â
In other trending Bitcoin News today: $288K BTC price âstill in playâ says PlanB as Bloomberg champions Bitcoin halving. Bitcoin can still hit an average price of $288,000 in the next three years, confident analyst PlanB has said after BTC shed 7% on June 12.Â
â$288K still in play. It would really surprise me if bitcoin would not touch the black S2FX model line this phase. Regardless of current volatility, yellow green and blue dots will be (much) higher than red orange dots.â
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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:
$288K still in play. It would really surprise me if #bitcoin would not touch the black S2FX model line this phase. Regardless of current volatility, yellow green and blue dots will be (much) higher than red orange dots. pic.twitter.com/np26ypO96X
â PlanB (@100trillionUSD) June 12, 2021
https://cointelegraph.com/news/bitcoin-taproot-upgrade-finally-locked-in-activation-set-for-november
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BITCOIN ANALYST SAYS K – 0K BTC PRICE IS POSSIBLE | Chainlink Partners With Korean Tech Giant
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Due to the debasement of the US dollar, Tuur Demeester thinks $50,000 Bitcoin â or even $100,000 BTC price â isnât out of the question.
Bitcoin continues to show impressive price trends amidst a coronavirus-induced gloomy macroeconomic outlook.
The Bitcoin price has ballooned by circa 150 percent after bottoming out near $3,800 on March 13, 2020.
Meanwhile, analysts and traders are betting on its extended growth, with a price prediction model even envisioning it above $280,000 by 2024.Â
Adding his forecast to a long list of bullish predictions is Tuur Demeester, an influencer known for investing in Kraken, a U.S.-based crypto exchange, via his fund Adamant Capital. Mr. Demeester said he sees Bitcoin anywhere between $50,000 and $100,000, stating that the cryptocurrency will not fall back below $6,000 ever again.
The bold prediction surfaced a day after Bitcoin optionsâ open interest on Chicago Mercantile Exchange rose to near $150 million â its highest level ever.
Analysts treat CME as the best gauge of interest in Bitcoin for institutional investors. Mr. Demeester used a similar metric to justify why the cryptocurrency could surge by up to 950 percent.
The analyst noted that the cryptocurrency is entering a âdeployment phaseâ â a period wherein big Wall Street players are beginning to associate themselves with emerging blockchain assets.
He mentioned JP Morgan Chase & Co, a banking institution that once treated Bitcoin as fraud-money, suddenly embracing two of the biggest U.S. crypto firms as its clients.
The Wall Street makeover of Bitcoin also continued with considerable investment from Paul Tudor Jones.
The billionaire hedge fund manager, as Mr. Demeester pointed out, recently put 1-2 percent of his portfolioâs worth into bitcoin futures.
That validated the cryptocurrency as insurance against global market risks.
âItâs a land-grab phase,â said Mr. Demeester on the ongoing institutional influx. âYou know [bitcoin] is going to be big [and] it is not correlated with traditional financial systems [..] Institutions are staking their claims and see what is going to be built atop [Bitcoin] later.â
Family offices, billionaires, hedge funds, and the interest of other prominent investors in Bitcoin could quickly push the price above $50,000, he added.
In other trending Bitcoin News today:
Chainlink Partners With Korean Tech Giant to Boost Blockchain and Crypto Mass Adoption
Chainlink, a leading platform in the blockchain industry for connecting smart contracts to real-world data sources, has signed a partnership with an affiliate of South Korean internet giant Kakao, the company behind KakaoTalk, one of the most popular mobile messaging apps in Asia.
Kakaoâs Klatyn is the companyâs public blockchain project. The partnership will see the integration of Chainlinkâs oracles with Klaytnâs smart contracts.
According to its team of developers,
âSmart contracts need to interface with the data feeds, events, and widely accepted payment methods that centralized digital agreements rely on to provide value. By providing the building blocks needed by complex smart contracts in the form of critical inputs and key outputs, we seek to enable the next generation of smart contracts that will step beyond tokenization to become the dominant form of digital agreement.â
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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://bitcoinist.com/bitcoin-bottomed-says-top-investor-as-institutional-inflow-hits-record-high/
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