BITCOIN SUPERCYCLE WILL SEND BTC TO ASTRONOMICALLY NEW HIGHS OF $1 MILLION SAYS ON-CHAIN ANALYST!!

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More data is flowing in suggesting that May’s block reward halving will initiate notable gains in the BTC price.

This latest analysis suggests that the Bitcoin price will slowly move up for the rest of the year, and eventually eclipse its all-time high.

Analyst Bitcoin Jack has posted a graph on Twitter that examines a range of indicators on the weekly closing prices, all of which point to an impending bull run.

He has tweeted: “$BTC fair price analysis update. 40% on our estimated time of price spent below the 0.5 of the entire consolidation range since 20K. In ’13-’17 consolidation saw 41.57%.

One way or another, the math suggests there has been enough discount below fair price to grind up rest of year.”

This chart examines moving averages and fibonacci sequences of the present market and compares them to similar data from the 2013-2017 bull run.

There is a clear parallel with much of the data.

Thus, if the pattern continues, Bitcoin’s price will move up for at least the next twelve months.

It is worth noting that Bitcoin Jack is not predicting a rapid price spike, at least not by crypto market standards.

Rather, he suggests that Bitcoin will move up steadily, as it did during the last bull run that lasted until early 2018.

Nevertheless, the cryptocurrency could still see a new all-time high within a few months.

Bitcoin Cash (BCH) Halving Officially Done, Reward Cut in Half:

Bitcoin Cash halving is here! At block height 630000, the halving occurred and the block reward has now fallen to 6.25 BCH from 12.5 BCH. 

Bitcoin Cash’s halving, that occurs every 210,000 blocks or four years, came over a month before Bitcoin’s because of its initial problem with its difficulty adjustment algorithm in 2017.

As we recently reported, Bitcoin Cash shares the same SHA-256 mining algorithm as Bitcoin and Bitcoin SV (BSV) which means, miners can seamlessly redirect their hash power to the asset that is more profitable to them.

Because Bitcoin will still have 12.5 BTC rewards for a month longer, when Bitcoin Cash today and Bitcoin SV tomorrow halve their rewards, this should force miners to direct more hash power to bitcoin which already accounts for nearly 95% of it.

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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 Price Next Stop $23,000 as Halving Approaches

https://bitcoinexchangeguide.com/bitcoin-cash-halving-official-done-reward-cut-in-half-but-bch-price-is-flexing-for-now/

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Bitcoin pioneer Max Keiser, RT host of the Keiser Report recently tweeted the following bullish BTC price prediction:

“The Bitcoin price is lagging hashrate by a considerable margin. Current hashrate trends infer a $35,000 – $50,000 price.”

“People with zero Bitcoin exposure like Warren Buffett will see their wealth hyperinflate to nothing while the BTC price skyrockets 40-80x”, says Max Keiser.

Keiser recently tweeted that “the (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000.”

CryptoPotato reached out to the popular TV host to elaborate on his views regarding the price suppression and potential surge in value.

Keiser asserted that “for the world’s poor, the current price and availability of BTC are a once in a species-existent opportunity to acquire unconfiscatable Hard Money before a 40-80x move on the upside.”

He commented that his “forensic analysis of the BTC market, corroborated by insiders, is indicating futures traders are suppressing the price of BTC to give institutional players a chance to load the boat.”

He also gave his intermediate price target of $28,000 per coin. Once the cryptocurrency reaches that level, it would be a significant game-changer for people’s perception of the asset.

“When this happens, we’ll see something quite unexpected. The retail market for BTC will dry up. The amount of BTC for sale AT ANY PRICE will be increasingly tiny. Institutions, corporations, and governments will be buying BTC directly from miners, presumably at a huge premium.”

Keiser, who previously said that Warren Buffet will start panic buying Bitcoin when the asset price jumps to $50,000, said that people like the prominent investor, who have no Bitcoin exposure, will see “their wealth hyperinflate to nothing.”

In other trending Bitcoin News today:

Michael Saylor Reveals What He’ll Do When $425 Million Bitcoin Investment Surges 100x

Microstrategy CEO Michael Saylor said he will hold his company’s Bitcoin (BTC) for 100 years, and has no intention of selling it. 

On Aug. 11, the business intelligence firm announced it had purchased 21,454 BTC for $250 million.

This investment is now worth more than $278 million, representing an 11% increase in two months, and has purchased more Bitcoin since.

In a new interview with Real Vision CEO Raoul Pal, Saylor said the decision to invest $250 million was informed by a discussion between its board of directors and the firm’s investors, auditor and executives. Saylor explained:

“This is not a speculation, nor a hedge. It is a deliberate corporate strategy to adopt the Bitcoin Standard.”

Microstrategy decided to restructure its treasury in response to recent global economic uncertainty, looking to explore assets suited to providing a long-term store of value.

But after considering a variety of options with a 100-year outlook, Saylor decided Bitcoin was the only option.

Tax and fees kill almost all other assets, he concluded, and those that aren’t killed are instead crippled because they are controlled by a CEO, government or country.

Bitcoin, on the other hand, is evolving, and over time it gets harder, stronger and faster, Saylor concluded, describing BTC as a “hive of cybernetic hornets protected by a wall of encrypted energy.”

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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:

“I came to the conclusion that #btc was going to be the best of the inflation trades–the defensive trades,” says Paul Tudor Jones. “Bitcoin has a lot of characteristics of being an early investor in a tech company…it’s like investing with Steve Jobs and Apple.” pic.twitter.com/4760iQBrOy

— Squawk Box (@SquawkCNBC) October 22, 2020

This message from KeiserReport in 2011 put bitcoin on the map. Millions heard the call. We created 100,000’s of #BTC  millionaires globally with hundreds of shows over 10 years These facts get overlooked during this period of Russophobia, sadly

pic.twitter.com/HR5rBYf1MJ

— Max Keiser (@maxkeiser) October 17, 2020

#Bitcoin price is lagging hashrate by a considerable margin. Current hashrate trends infer a $35,000 – $50,000 price

— Max Keiser (@maxkeiser) October 22, 2020

https://dailyhodl.com/2020/10/22/michael-saylor-reveals-what-hell-do-when-425-million-bitcoin-investment-surges-100x/

https://cryptopotato.com/warren-buffett-will-see-his-wealth-hyperinflate-while-bitcoin-price-does-40-80x-says-max-keiser/

https://cointelegraph.com/news/michael-saylor-claims-the-company-will-hold-bitcoin-for-100-years

https://cointelegraph.com/news/paul-tudor-jones-says-bitcoin-is-like-investing-early-in-apple-or-google

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Tone Vays, the well-known BTC derivatives trader, believes the Bitcoin price will stay above $10,000 for the rest of 2020. 

At the start of the year, Vays said he was skeptical the BTC price would break $20,000 in 2021 but now he thinks it’s possible for the top cryptocurrency to overtake its record all-time high.

If the price of Bitcoin surpasses $20,000 in the medium-term, Vays said history shows it tends to double.

Based on the historical price cycles, he said the $45,000 to $50,000 range is a reasonable target.

During an interview with IGTV, Vays said:

“Every time Bitcoin breaks a prior all-time high, especially when it takes years to break that all-time high, it tends to usually more than double. So I think $45,000 to $50,000 is a reasonable target.”

Throughout 2020, Vays said Bitcoin would likely stay above $10,000 and gear towards $20,000 the following year.

He noted:

“In the beginning of the year, I thought that even next year would be a struggle to break $20k. Now I think it’s pretty likely that we’ll break $20k next year.”

As on-chain analysts have said throughout August, the $10,000 area has become a strong support level for Bitcoin.

As long as a key psychological level at $10,000 is intact, an extended uptrend becomes more likely.

Vays also drew a comparison between Bitcoin and gold. He emphasized that gold broke its all-time high and saw a 5% upside past its previous high fairly quickly. 

The trader explained that Bitcoin could do something similar over the medium to long-term when it breaks its previous all-time high at $20,000. He stated:

“We are watching what’s happening with gold right now. Gold finally broke its all-time high, that it made ten years ago, just recently, and it went already $100 past that. So it went 5% more fairly quickly. So let’s see how fast gold goes up since breaking all-time high, and Bitcoin can do something similar.”

How far could Bitcoin go?

Various price models predict the price of Bitcoin to reach anywhere between $30,000 to $250,000 in the long-term. 

According to Vays, he would be satisfied if the next top of Bitcoin is at around $45,000.

Historically, Bitcoin has seen a major breakout past its previous record high, reach a new peak, then correct.

A rapid upsurge to unsustainable price levels could leave BTC vulnerable to sharp drops. He added:

“Do we think we go as high as $100,000? I’m not willing to make that statement. For me, I would be happy if the next top was around $45,000, and that can happen quickly.”

In other trending Bitcoin News today:

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

Bitcoin price recently set a new high for 2020 but has since pulled back to just under $12,000.

However, the cryptocurrency is slightly “ahead of schedule,” according to a top crypto expert and former Google engineer.

Because the asset is further beyond in its cycle “trajectory,” it could mean that there’s still more downside to go before the bull run picks up in steam.

In the end, however, it doesn’t matter, as the same projection brings the cryptocurrency to a peak of over $325,000 in under two years.

According to the crypto expert, if the cryptocurrency was following the last cycle exactly, the price per BTC should be trading around roughly $10,800.

Currently, BTCUSD is trading roughly $1000 higher following a pullback that began after setting a local high at $12,400.

If Bitcoin continues to follow this path, and it has thus far, the next peak would arrive sometime around October 19, 2021.

The target? $325,000.

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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:

If we were to follow the 2016/17 trajectory (we’re ahead of schedule right now), the peak of the cycle would occur on October 19th, 2021 and the peak price would be approximately…

$325,000 👀

— Vijay Boyapati (@real_vijay) August 19, 2020

Stats showcasing crypto growth in 2020– Crypto market cap +95% – Stablecoin market cap +185%

– $BTC +65%

– $ETH +220%
– $LINK +800%– BTC futures OI +50%– BTC options OI +560%– BTC CME futures OI +660%– BTC CME futures OI (in BTC) +360%

– Total value locked in DeFi +900%

— Alex Krüger (@krugermacro) August 20, 2020

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

https://grayscale.co/wp-content/uploads/2020/08/Grayscale_Valuing_Bitcoin.pdf

https://cointelegraph.com/news/grayscale-bitcoin-market-looks-like-2016-before-historic-bull-run

https://cointelegraph.com/news/50k-bitcoin-is-reasonable-if-btc-hits-new-highs-says-tone-vays