BITCOIN TERMINAL VALUE IS REALLY $700K PER BTC, SAYS PANTERA CAPITAL CEO!!!!!

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Few have called the Bitcoin price action as well as Dave the Wave has over the past few months; in the middle of last year, the analyst predicted a retracement to $6,400 when the BTC price was rallying above $10,000, and more recently, he called for a retracement from $11,000 to $8,500.

Now, he’s starting to lean bullish once again.

In an analyst published Sunday, the trader suggested that Bitcoin (BTC) is in the midst of “turbulence before take-off,” pointing to a chart that shows the current price action in the crypto market is reminiscent to that of late-2016, just months before Bitcoin began its rally from $800 to $20,000 in a year’s time.

Where Will the Rally Take Bitcoin? Although Dave the Wave did not mention his long-term targets in that tweet, he has suggested previously that the cryptocurrency could be on the verge of a 1,000% rally.

The analyst suggested that the cryptocurrency is still on a clear trajectory to enter a six-digit price point in the coming two to three years.

Dave backed this prediction by pointing out that Bitcoin is on the verge of finishing a fractal correction and is about to break past of a long-term descending trendline, which marked the two swing tops over the past two years.

A move past the trendline, which will soon line up with the long-term buying zone for Bitcoin, is likely to kick off a rally to $100,000, the trader suggested.

This lofty prediction can be backed up by the famous stock-to-flow model from PlanB, a pseudonymous quantitative analyst working for a European institution.

The model equates Bitcoin’s scarcity (inflation rate) to its market capitalization, suggesting the after the May 2020 block reward halving, BTC will have a fair price of around $55,000 to $100,000. 

BITCOIN STILL ON TRACK FOR MASSIVE GAINS AFTER HALVING

Bitcoin has spent the weekend consolidating in the mid-$8k zone following a week of sharp declines through several levels of support.

The stock to flow model is still holding course though which means big gains could be ahead after the halving. Bitcoin has corrected around 20% from its 2020 peak to yesterday’s low of just over $8,400.

It has held in the mid-$8k range for a couple of days low leading analysts to believe that the bottom could be in.

With just 70 days to go to the halving, analyst ‘PlanB’ has revisited his stock to flow model noting that things are right on track with it.

The stock to flow (S2F) model examines the relationship between the production of supply and the current stock available.

Using this model, the analyst has predicted a rise to around $80-$100k in the months following the halving.

Previous events in 2012 and 2016 saw huge rallies in the years that followed and many are expecting that 2021 could be even bigger for Bitcoin than this year.

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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:

Very long term i can see how fancy math can explain price. But fancy math can never explain short term price movement imo. So monthly predicitions really ?

— Liam Janssens (@LiamJanssens) March 1, 2020

$BTC Hash Ribbons ain’t looking so good as halving is approaching.Mining cost right now at~ $7700.Bitcoin should rally to over $15000 in the before Halving if Miners wants to feed their family.

Pump it for the Miners and their family. pic.twitter.com/3ohIlbqfmX

— Anondran (@AnondranCrypto) February 29, 2020

You don’t think Coronavirus will affect this?

— ₿rucewayne (@HouseSt12782619) March 1, 2020

For those getting stuck or confused on the shorter term call, here’s my view going forward. If you’re a holder/ investor, ignore the short term calls and focus on the medium/ long term.

Main point being, a consolidation to the buy zone would set BTC up nicely for its run. pic.twitter.com/AC2gv5VrGI

— dave the wave (@davthewave) February 16, 2020

Bitcoin Still on Track For Massive Gains After Halving

https://cointelegraph.com/news/bitcoin-price-avoids-82k-to-mirror-stock-to-flow-creators-forecast

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Microstrategy CEO Michael Saylor in a new interview with Bitcoin Magazine, predicts BTC will hit $10,000,000 per coin. Bitcoin price hit $57,600 this morning, a new five-month high. In today’s show I share the 5 most important things to watch in BTC market this week. Also in today’s show: El Salvador to build $4M veterinary hospital using profits from Bitcoin trust. Salvadoran President Nayib Bukele has announced plans to invest part of the $4 million worth of profits the country has amassed from its Bitcoin (BTC) holdings to invest into constructing a new veterinary hospital in the local capital of San Salvador.

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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://cryptopotato.com/analysis-the-distinction-between-bitcoins-market-cycles-in-2017-and-2021/

https://cointelegraph.com/news/el-salvador-to-build-4m-veterinary-hospital-using-profits-from-bitcoin-trust

https://cointelegraph.com/news/btc-price-hits-57k-five-month-high-5-things-to-watch-in-btc-this-week

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The Bitcoin price will rise exponentially until “it’ll get almost impossible to buy BTC as price rockets higher” Max Keiser has announced.

Speaking to Express.co.uk, RT host of the Keiser Report, Max Keiser said: 

“The demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day. 

This is why I think institutions that are buying Bitcoin will do so directly from miners and the public won’t have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 per BTC.”

“Meanwhile, Generation Z who bought lots of bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.”

Studying the daily demand for Bitcoin from the world’s major exchanges, the current estimated average daily demand far outweighs the daily supply created by mining bitcoin.

The daily demand on exchanges amounts to 2,600 BTC, whereas the supply from mining is only 900 Bitcoin.

Of this disparity, Max Keiser said: “This is amazing, the daily demand from these four is 2,600 Bitcoin, but the daily supply from mining is only 900 Bitcoins.”

This Bitcoin prediction of an escalating price was also echoed by Dan Morehead, the CEO of Pantera Capital, who said: 

“The first investment firm in the US to launch a digital currency, pre-auction ICO, and blockchain-enabled venture funds. 

PayPal and CashApp already buying more than 100 percent of all newly-issued bitcoins. PayPal alone likely buying all within weeks. Where would Cash App get theirs? That’s where the finite-supply, inelasticity part comes in, at a higher price.”

Bitcoin expert Dan Held gave a list of the financial institutions “and trading legends” that recognize Bitcoin is the new gold.

Mr Held tweeted the following names and institutions, “Fidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmiller”.

A follower of Mr Held tweeted: “Bitcoin will divide people into two groups. In those who have it and those who want it.”

In other trending Bitcoin News today:

“BlackRock Chief Investment Officer Says Bitcoin Will Overtake $10 Trillion Gold As Primary Store of Value”

Rick Rieder, chief investment officer of global fixed income at investment management corporation BlackRock, says he believes Bitcoin will surpass gold as the primary store of value.

In a CNBC Squawk Box interview, Rieder explains why he believes Bitcoin and cryptocurrency at large aren’t going anywhere.

“I think cryptocurrency is here to stay and I think it is durable and you’ve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennials’ receptivity to technology and cryptocurrency is real. Digital payments systems is real so I think Bitcoin is here to stay.”

The BlackRock executive highlights why he believes Bitcoin will overtake gold as the go-to store-of-wealth asset.

“Do I think it will take the place of gold to a large extent? Yeah, I do because it’s so much more functional then passing a bar of gold around.”

While Rieder sees a rosy future for the largest cryptocurrency, he admits that he does not include much BTC in his corporate and business portfolios. 

Also, the BlackRock CIO says he’s unsure whether Bitcoin is worth the price it is trading at today, which is around $18,770.

Rieder is the latest high-profile Wall Street figure to see the potential of Bitcoin. Earlier this month, billionaire investor Stanley Druckenmiller revealed he owns Bitcoin and said that the flagship cryptocurrency has more upside potential than gold.

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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:

Current #bitcoin price action is nice, but we are waiting for a real jump (like the red arrows early 2013 and 2017). IMO that will be the start of the real bull market, and indeed phase5. January 2021? pic.twitter.com/orzwdCOcvP

— PlanB (@100trillionUSD) November 22, 2020

https://www.express.co.uk/finance/city/1363025/Bitcoin-price-news-update-latest-rocketing-surging-big-institution-banks-buy-directly-mine

https://cointelegraph.com/news/bitcoin-price-dips-below-18k-time-to-watch-these-whale-cluster-support-zones