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The Bitcoin price has a maximum 15% chance of falling below $3,800 if current BTC price levels continue, says popular Crypto trader Tone Vays as BTC nears $7,000.

In a YouTube update on March 24, an increasingly bullish Vays updated his outlook for BTC/USD.

He argued that at around $6,750, the pair was sitting at resistance. Break above $6,800 and Bitcoin (BTC) would all but eliminate the likelihood of dipping to new lows under $3,800 — only a 15% chance would remain.

“Going above $6,800 would maybe give me 85% confidence we’re not going to go below this — and we’re almost there, we’ve almost broken it; we’re sitting at resistance,” he said.

“Right now, I believe there’s a 20-25% chance we’re going to go below $3,800.”

Vays had previously sounded the alarm about a potential Bitcoin collapse to as low as $2,000 before May’s block reward halving.

Now, however, he told traders that it was foolish to avoid entering the market in the hope of catching the next dip.

He continued: “That still means that you can’t wait; you can’t wait for another pullback to $3,500 — you should be in Bitcoin by now.”

As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount.

As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible.

Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”.

“As we get used to talk about Trillions, a modest $2 trillion market cap of bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right? As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach 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:

Here’s some perspective on the astronomical number that is $6 trillion. $6 trillion is the same as – 1/3 of America’s GDP– 130% of the Federal Reserve’s balance sheet– Enough money for $850 for each human being on Earth– or 900 million Bitcoin

Crazy.

— Nick Chong (@_Nick_Chong) March 24, 2020

As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?

As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.

— CZ Binance 🔶🔶🔶 (@cz_binance) March 25, 2020

https://cointelegraph.com/news/as-trump-talks-trillions-binance-ceo-predicts-2t-bitcoin-market-cap

https://cointelegraph.com/news/bitcoin-price-rejects-7k-but-tone-vays-says-75-chance-btc-bottomed

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Su Zhu, the co-founder and CEO of fund management firm Three Arrows Capital, is revealing an astronomical Bitcoin price prediction of $2.5 million per BTC.

In a new interview with UpOnly, Su Zhu compares Bitcoin to gold, asserting that gold is likely undervalued and that in the long run, Bitcoin is primed to take over a large portion of the precious metal’s market share.

“I mean, I think there’s an argument that gold itself is very undervalued. If it was the dominant store of value cause this thing was at like $1,700 years ago… and let’s say gold should have 5X’d if there wasn’t Bitcoin, then really we’re looking at a $50 trillion market cap.

So then you’re already halfway there to $100 trillion and that will get you to $2.5 million per BTC and I think that that is definitely possible.”

The CEO says he expects BTC to jump up in sudden price surges along the way and, due in part to institutional investors, simply refuse to return back down to previous levels.

Eventually, says Zhu, the asset will likely look like gold does now – relatively stable.

“I think that at the top of it, it will behave like how gold is now, so low volatility-ish. And I think the way that people should think about how that process will go is that it will be [in] bursts, right. Where the markets look linear in like the short term – it’s always up $1,000, down $1,000 and then you get these bursts. And you get these big repricings and people can never buy again [at the same price].”

As for what Zhu believes will come of the meme crypto asset Dogecoin (DOGE), a project that has caught the eye of Tesla CEO Elon Musk, the Three Arrows co-founder says that it could have a significant amount of upward potential with Musk’s support.

“Elon [Musk is] shilling DOGE a lot and he must have a plan for it. So it’s tough to say. It can go up high.”

In other trending Bitcoin News today:

FRACTAL FROM LAST BULL RUN SAYS BITCOIN WILL HIT $100K BY MAY

Here’s a look at the similarities between the two cycles, and the roadmap that takes the price per BTC to $100,000 and higher within the next couple of months.

Bitcoin volatility is picking up, starting with an explosive move from $10,000 to $50,000 in a few short months. The complete repricing of the coin has been due to institutional investors scrambling to buy what they can of the scarce crypto asset.

At only 21 million coins and a market cap of under $1 trillion, Bitcoin is expected to grow in the long-term reliably. And in an economic climate where growth is challenging to come by, the cryptocurrency has become especially attractive.

But as Bitcoin price discovery takes place, volatility is bound to ensue and is has in recent weeks as the cryptocurrency recently shed 20% in a single day. At prices of $50,000 per coin, a 20% dive means $10,000 in value apiece evaporating into thin air, compared to the $1,000 per plunge crashes during the last bull market.

If the same path is followed, Bitcoin could see further collapse before experiencing a sharp rebound to more than double the price. The price action will play out quickly, taking Bitcoin price first to $75,000 in April, then $100,000 by the time May rolls around.

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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:

Previous macro tops have occurred when thousands of transactions worth 5 to 7 million dollars each were flooding the blockchain. True FOMO. Currently, no such FOMO in sight for $BTC. pic.twitter.com/s9Cbgn4n8Q

— whalemap (@whale_map) February 25, 2021

#Bitcoin doesn’t look too great for a bull continuation coming period.Still, retest at $54,000-55,000 could happen, but I’m cautious when we get there. If we lose $47,000, then I’m looking at $42,000-44,000 and $37,000-38,500 next.

That should be the low.

— Michaël van de Poppe (@CryptoMichNL) February 25, 2021

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

https://cointelegraph.com/news/bitcoin-price-macro-top-not-so-fast-data-shows-the-real-fomo-isn-t-even-here

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The Bitcoin price will hit $250,000 by 2022 according to legendary billionaire venture capitalist Tim Draper who was the first to go on the record with his quarter million dollar BTC price prediction.

There have been many fears over recent years that central banks and other authorities will target Bitcoin as they may see it as a threat to traditional financial infrastructure.

According to Dan Tapiero, though, these fears are unfounded for the time being. Dan Tapiero is the co-founder of DTAP Capital, Gold Bullion Int., amongst other firms.

He has been closely following Bitcoin for a while now, being one of the first macro voices to enter the space.

He recently commented that until Bitcoin hits $250,000, or a market capitalization of around $5 trillion, it may not have relevance on a macro scale:

“$200 billion too small to matter for macro authorities. Gold is $12 trillion and no one really cares. Bitcoin has clearance up to at least 250k. 25x before big boy global macro authorities start caring that it exists.”

His contemporary Raoul Pal, a former Goldman Sachs head of hedge fund sales and Real Vision CEO, recently commented that Bitcoin is “irrelevant on a global asset scale.”

“Yeah, 100% agree. It’s currently irrelevant on a global asset scale. As you say, even a $10trn doesn’t concern most central banks. The FX market trades half that in a day. DTCC clears and settles something over a quadrillion in a year.”

It’s worth noting that both of the investors are extremely bullish on Bitcoin.

Both believe that the leading cryptocurrency will undergo an exponential rally this market cycle that will take it above $100,000 and beyond.

Tapiero’s and Pal’s point that Bitcoin currently isn’t relevant on a macro scale has been echoed by Tom Lee of Fundstrat Global Advisors.

Lee said at a conference in Singapore in 2018 that before a Bitcoin ETF should be approved by the U.S. Securities and Exchange Commission, it should trade at $150,000 or more.

Bloomberg wrote on his comment:

“If you’re involved in crypto, the SEC can look like an obstacle,” Lee said.

“They’re establishing protections for individuals and right now it’s not convenient for the industry, but if the SEC is someone that people trust” to protect them, “that’s how you get the mainstream willing to get involved in cpypto.”

In other trending Bitcoin News today:

Former Goldman Sachs Exec Says Bitcoin ETF Will Be Approved, Bringing Billions Into Crypto Market

Raoul Pal, former Goldman Sachs exec and hedge fund manager, says that Bitcoin is offering a rare opportunity for retail investors to get out and invest in the next big thing before institutional investors.

In a YouTube interview with Jerry Hall, Pal says that a proper Bitcoin exchange traded fund (ETF) will be the catalyst that brings billions of dollars into BTC and exponentially expands the market capitalization of the largest cryptocurrency. 

“You’re allowed to front-run in Bitcoin, and I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate because the larger the market cap of Bitcoin is… This is an opportunity for retail to front-run the institutions for once as opposed to Goldman Sachs front running us.”

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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:

Analysts: Bitcoin May Surge Up to $250,000 Before Macro Authorities Care

The Last Time Bitcoin Formed This Signal, It Surged $2,500