BITCOIN ‘SUPPLY SHOCK’ UNDERWAY AS BTC WITHDRAWAL RATE SPIKES TO 1-YEAR HIGH, WARNS CRYPTO ANALYST!!

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The world will be “nasty” if Bitcoin hits stock-to-flow’s BTC price predictions of $288,000 and higher, PlanB warns, as governments will fight for it.

The creator of the Bitcoin price model, which forecasts $288,000 for BTC/USD by 2024 will “go dark” if his BTC predictions come true.

Speaking on the latest edition of the Stephan Livera podcast on May 5, PlanB warned about the implications of his Bitcoin bull scenario. 

Stock-to-flow’s latest incarnation, S2FX, was released last week and increased its average Bitcoin price expectations five times compared to the previous version. For PlanB, despite the obvious satisfaction of BTC/USD increasing by an order of magnitude in line with stock-to-flow, the result would not be without its problems.

“I will go dark if the model is successful because if the model is successful, it will not be a pretty picture,” he said.  “It will be nasty, it will (be) maybe war — people have Bitcoins, some people don’t have Bitcoin, it’ll be some countries have Bitcoins, some won’t have Bitcoins, it will be the U.S. dollar losing its reserve status, it will be geopolitical, it will be military.”

In other trending Bitcoin News today:

Bitcoin Whales Have Been Buying En-Masse Since Early-2020: “Macro Bullish” Sign

Unlike traditional assets, where many transactions are hidden, Bitcoin is almost entirely transparent. 

One may not know who made a transaction or who owns an address, yet people can gain access to data of transactions.

It is a nearly inescapable fact that many have used to their advantage.

One can analyze the data in order to get an edge over their fellow investors and users. Noted on-chain analyst Willy Woo made this much clear, recently saying that Bitcoin data is printing a “macro bullish sign.”

Citing data from Glassnode, Willy Woo on May 5th noted that the population of large Bitcoin holders (1,000+ coins) has increased strongly since January’s lows.

This indicates these users have been in “solid accumulation mode,” which is a “macro bullish” trend:

“Whale population spotted increasing in the wild. They’ve been in solid accumulation mode since January unperturbed by the COVID crash.

This is macro bullish,” Woo said With just 5 more days to go until the infamous Bitcoin Halving, notably, retail investors have also been found to have recently been buying BTC.

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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:

Lol, this is not a tweet stating that it’s going to moon or what. Just in general doing pretty well.

Even a retrace to mid $6k is still ‘pretty well’ for $BTC.

— Crypto Michaël (@CryptoMichNL) May 5, 2020

I admit I like to rile you guys up. Once #Bitcoin collapse I won’t be able to do it as much. So I need to make hay while the sun shines, as it won’t shine for long.

— Peter Schiff (@PeterSchiff) May 5, 2020

https://cointelegraph.com/news/bitcoin-price-criss-crosses-9k-as-peter-schiff-warns-of-collapse

https://cointelegraph.com/news/bitcoin-stock-to-flow-creator-will-go-dark-if-btc-price-hits-6-figures

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Bitcoin (BTC) delivered another classic surge during Oct. 28 as bulls enjoyed a $1,700 hourly candle. Crypto analysts were already unfazed by Bitcoin’s retracement, with some even increasing their price targets over longer timeframes.

“Seems I was not bullish enough at $40k. Quote: “first target at 73k”. Well….I think that target moved up to $90k and after a correction we should see $100k.” – Crypto Ed

“Going according to plan, Bitcoin might be on the way towards $90K.” – Michaël van de Poppe 

In other trending Bitcoin News today: Volt Equity’s ‘Bitcoin revolution’ ETF goes live on NYSE today!

The New York Stock Exchange (NYSE) continues listing Bitcoin (BTC)-linked exchange-traded funds (ETF), with Volt Equity becoming the latest company to debut such a product on the exchange.

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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.cnbc.com/2021/10/28/coinlist-ceo-sees-bitcoin-hitting-100000-by-the-start-of-next-year-.html

https://cointelegraph.com/news/volt-equity-s-bitcoin-revolution-etf-goes-live-on-nyse-today

https://cointelegraph.com/news/el-salvador-buys-a-smokin-hot-420-more-bitcoin

https://cointelegraph.com/news/bitcoin-suddenly-nears-61k-as-a-1-7k-hourly-candle-fuels-btc-bulls

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The crypto analyst who accurately predicted last years Bitcoin retracement has updated his roadmap of the BTC ascent to $100,000 as the king cryptocurrency approaches the apex of a long-term triangle.

Trader Dave the Wave tells his 33,000 Twitter followers that Bitcoin is poised for a big move as the top cryptocurrency shows signs of compression.

“Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do. Shaping up nicely for the move going forward.”

Based on Dave’s chart, Bitcoin is losing steam as seen on the slumping logarithmic moving average convergence and divergence (LMACD).

The indicator is designed to reveal changes in an asset’s trend, strength and momentum.

In addition, the king coin’s volatility looks ready to hit its all-time lows as the Bollinger bands width (BBW) indicator approaches a value of 0.50.

The low BBW reading suggests that BTC’s trading range is at its narrowest point in four years. Bitcoin’s tightening trading range and dying momentum suggest that a violent move is on the horizon as the dominant cryptocurrency approaches the end of a multi-year triangle.

Dave says that once volatility returns, he expects Bitcoin to go through a significant correction.

Once the pullback is over, Dave sees Bitcoin eventually breaking out of the long-term triangle.

He says Bitcoin will recover its all-time high of $20,000 next year before igniting a manic phase that would send the top cryptocurrency above $100,000 before 2022 expires.

In other trending Bitcoin News today:

BITCOIN TO SOON CONFIRM BUY SIGNAL THAT PRECEDED 2017’S 2,000% RALLY

According to a crypto analyst, Bitcoin’s macro Moving Average Convergence Divergence (MACD) is about to cross green on the monthly time frame.

Should this take place, it will mark a large win for the bull case. For instance, prior to the rally from under $1,000 to $20,000 in late-2016/2017, BTC formed this signal.

And prior to the rally to $14,000 in 2019, this signal was formed.

The potential cross in the MACD isn’t the only signal that is supporting the long-term bull case.

This past Sunday, digital asset manager Charles Edwards noted that his indicator, the Hash Ribbons, printed a “buy” signal:

“Bitcoin Hash Ribbons “Buy” signal just confirmed. The post-Halving signal is particularly special.  It will probably be a very long time until the next occurs. …and so the great bull run begins.”

This is important as the signal has preceded parabolic rallies in the price of BTC.

Edwards found in an analysis published last year that the gain-to-peak of the indicator’s “buy” signals comes out to an average of 5,520%.

The fundamentals are equally as bullish, analysts have said.

As reported by Bitcoinist previously, Nexo’s Antoni Trenchev argued that Bitcoin is still poised to hit $50,000 by the end of 2020.

He attributed this strong sentiment to the presence of money printing by central banks and the block reward halving:

“So yes, I’m sticking to my prediction of 50K until the end of the year. I appreciate that it is a bold statement, but the fundamentals are there and the momentum is shifting there as well,”

Trenchev concluded to the Bloomberg journalist.

This optimism has been echoed by Adam Back, the chief executive of Blockstream.

The long-time industry executive and programmer told Bloomberg in a July interview that BTC will hit $300,000 in the next five years.

Like Trenchev, Back also mentioned money printing, but added that bonds and real estate likely have low risk-return ratios.

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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:

Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do.

Shaping up nicely for the move going forward pic.twitter.com/prrdi576XD

— dave the wave (@davthewave) July 15, 2020

https://bitcoinist.com/bitcoin-confirm-buy-signal-preceded-2017/