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

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The first publicly available U.S. mutual fund that generally tracks the Bitcoin price has been launched by a $60 billion fund manager.

In a press release this morning ProFunds announced the launch of its Bitcoin Strategy ProFund (BTCFX). This will be the first publicly available U.S. mutual fund that generally tracks the price of Bitcoin.

On the ease of access and mass exposure that this mutual fund will provide, ProFunds CEO Michael Sapir said that “Compared to directly buying bitcoin, which may involve opening a new account with an unregulated party, this ProFund offers investors the opportunity to gain exposure to bitcoin through a form and investment method that tens of millions of investors are familiar with.”

On the increased demand for a Bitcoin mutual fund, Michael Sapir commented it “has become a significant asset class, and our new Bitcoin Strategy ProFund provides investors access to a bitcoin strategy through a mutual fund investment.”

In other trending Bitcoin News today: Record 57K BTC leave exchanges in one day, dropping Bitcoin reserves to pre-crash levels.

Yesterday was the largest Bitcoin net outflow from exchanges since 2016. BTC needs to close above $40,035 today to make 9 green days in a row – the longest streak since May, 2017.

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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 game-theory kicking in with America’s hedge funds and political insider-traders. Beautifully, the protocol obviates the need for politicians – so good-bye asshat Liz Warren. $220,000 in 2021 still in play

Buy #Bitcoin, short 🇺🇸 pic.twitter.com/eM2u7lhhO9

— BITCOIN MAXIMALIST (@maxkeiser) July 28, 2021

https://bitcoinmagazine.com/markets/bitcoin-mutual-fund-manager-profunds

It’s On, Elizabeth Warren Triggers Retaliation From The Crypto Community

https://cointelegraph.com/news/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels

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The Bitcoin price is primed for average gains of almost 200% over the next six months, one of its best-known supporters has told mainstream media.

Speaking to Yahoo! Finance on Feb. 4, Tom Lee, co-founder at Fundstrat Global Advisors, said one bullish technical factor, in particular, made him “really optimistic” about the BTC price short-term potential.

“Notably in January – January is usually a week month, it was a great month for Bitcoin, up 26% – but it also recovered its 200-day moving average,” Lee explained. 

“That’s a big deal as you know, as anyone who’s a trend follower knows – when you’re back above your 200-day, you’re back in a bull market. Whenever Bitcoin breaks back into its 200-day, its average six-month gain is 197%.” – Tom Lee

Crypto CEO: Bitcoin Will Hit Record High of $30,000 in 2020 for This Reason

The Bitcoin halving plus geopolitical demand drivers may push Bitcoin (BTC) above its previous all-time high in 2020.

The CEO of the crypto asset startup Celcius believes that the combination of the two could see the leading digital asset reach as high as $30,000 before the end of this year.

Alex Mashinsky believes that most people underestimate the impact the halving this spring will have on the Bitcoin price.

The increasingly entrenched “store-of-value” narrative in an increasingly unstable world may drive the price up sooner than most people think.

Mashinsky says that most people are underestimating the impact of the halving. He takes the popular opinion that global political uncertainty makes the leading crypto asset increasingly popular.

Calling Bitcoin “the doomsday insurance”, he states: “I think that Bitcoin ends the year with a new high. I estimated $30,000 but it’s going to be somewhere between $20,000 and $30,000.”

Mashinsky also comments that a bullish Bitcoin will likely drive the rest of the industry up too.

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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:

Highlight: “We’re really optimistic on crypto and bitcoin this year,” @fundstrat’s Global Advisors Managing Partner & Head of Research Tom Lee says. “Whenever bitcoin breaks back into its 200 day, its average six-month gain is 197%.” pic.twitter.com/2tqzsuOV0m

— Yahoo Finance (@YahooFinance) February 4, 2020

Crypto CEO: Bitcoin Will Hit Record High of $30,000 in 2020 for This Reason

https://cointelegraph.com/news/bitcoin-price-may-hit-27k-all-time-high-by-summer-predicts-tom-lee

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Bitcoin is heating up – some may say erupting – as Latin American country El Salvadore plans to tap energy from volcanoes for mining the cryptocurrency. Nayib Bukele’s plans for crypto in El Salvador are still in motion, with the president now calling for a geothermal power company to make certain facilities available to Bitcoin miners.

In other trending Bitcoin News today: MicroStrategy gets $1.6 billion in orders in junk bond offering – four times the initially sought amount. Earlier this week, the company announced it would issue $400 million worth of junk bonds in a private offering, with a view to using the proceeds to purchase Bitcoin (BTC). One day later, the firm announced it would increase its bond offering to $500 million, after which it was inundated with $1.6 billion worth of orders.

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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/el-salvador-s-president-wants-to-build-volcano-powered-crypto-miners

https://cointelegraph.com/news/microstrategy-nets-1-6-billion-in-junk-bond-offering-to-buy-bitcoin

https://cointelegraph.com/news/bitcoin-hits-37-5k-amid-warning-thursday-will-see-next-btc-price-correction