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

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On Thursday Cuba’s government said it would “recognize and regulate” Bitcoin and other cryptocurrencies for payments on the island, Bloomberg reported.

The local Cuban Official Gazette published a resolution which stated that the central bank will create rules for Bitcoin and other crypto to determine licensing laws for providers of crypto services on the island.

The resolution stated the Central Bank has power to authorize the use of Bitcoin and other crypto for “reasons of socioeconomic interest”, according to Bloomberg. The resolution also said that the state will act as a check over the bank’s operations, and forbade the bank’s use of Bitcoin for “illegal activities”.

“Because of tough embargo rules in Cuba it has become difficult to use dollars, and as a result the popularity of Bitcoin has grown among Cuba’s technologically savvy.”

In other trending BTC News today: Midas Touch Director gives Bitcoin target of $100K or higher in coming months while Zoran Kole shared the following long term price prediction for the king cryptocurrency:

“Friendly reminder that you are likely living in the timeline where Bitcoin eventually goes to $14,000,000 per coin.

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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:

Friendly reminder that you are likely living in the timeline where Bitcoin eventually goes to $14,000,000 per coin.

— Zoran Kole [deleveraged] (@Captain_Kole1) August 26, 2021

https://bitcoinmagazine.com/culture/cuba-to-recognize-and-regulate-bitcoin-and-other-cryptos

Midas Touch Director Gives Bitcoin Target Of $100K Or Higher

https://cointelegraph.com/news/billionaire-simon-nixon-s-venture-capital-to-increase-crypto-allocation

https://cointelegraph.com/news/bitcoin-traders-brace-for-fed-options-expiry-as-btc-price-clings-to-47k

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Crypto analyst Nicholas Merten says he believes the Bitcoin price is firmly on a long-term trajectory that will bring BTC to $100,000.

In a new episode of DataDash, Merten takes a bird’s-eye look at Bitcoin’s boom and bust cycles over the years.

By looking at the long-term logarithmic chart of the BraveNewCoin Liquid Index (BLX), which provides a reliable USD price of Bitcoin (BTC) based on real-time trading data, Merten sees a likely timeline for the next bull run.

“If we take a look at the previous three clear cycles that we had here in cryptocurrency markets, we can generally take into note that we’ve seen an expansion of about a year added to each and every cycle…

The first cycle was around 11 to 12 months, in this case, for Bitcoin. Afterwards, from the bottom to the high, just like we did with the previous cycle, 24 months… With the third cycle, we have a 35-month period from bottom to top, roughly give or take almost three years…

There’s no guarantee that history is going to repeat itself exactly. There might be some big discrepancies this time around with the macro environment. The halving might play out differently. But if we take a look here of the logarithmic growth curves and take into mind the significant lows and the significant resistance, we actually are going to line up quite nicely here to a top of $100,000, give or take – it might not be exactly even –sometime in 2022.”

The DataDash founder offers two key fundamental catalysts that can drive Bitcoin’s rise to $100,000.

“We haven’t even seen the economic ramifications of the halving event and the continued macro environment going into a higher state of fear. These are the things that can drive Bitcoin to that valuation… I believe pretty consciously in this case that $100,000 is quite reasonable. Bitcoin at over $1 trillion market cap is going to be relatively reasonable in an environment where there’s money fleeing from global bonds, from global currencies, from equities or property markets as we enter into a longer drawn out bear market through a potential depression.”

BITMEX CEO: ‘ALL IN, MOTHERF*CKERS’ ON BITCOIN AND GOLD

BitMEX founder Arthur Hayes put out a thought-provoking piece on the company blog today. He talks about the effect of the COVID-19 crisis on the global economy and states that nothing will ever be the same again.

“The USD fiction is over. It’s time for a new mental crutch.” Hayes ends by stating there are only two things to own during the transition to the new monetary system after the total collapse of fiat. They are Bitcoin and gold.

I will take my inflation adjusted pocket rockets (gold and bitcoin), and call your Bretton Woods seven two off suit. All in, mother f*ckers.

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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:

Truly Incredible maybe even once in a lifetime.

Investment grade corporate bond index back to near ALL TIME highs. Fed buying junk bonds too. Risk of bankruptcies reduced even with 20m unemployed. Unprecedented “Unlimited” liquidity could not be more bullish for gold and btc. pic.twitter.com/F5X6A2rf2r

— Dan Tapiero (@DTAPCAP) April 10, 2020

BitMEX CEO: ‘All in, Motherf*ckers’ on Bitcoin and Gold

Bitcoin: This Financial Trend “Could Not Be More Bullish” for BTC

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Two market analysts have said Tim Draper’s bold Bitcoin price prediction might not be as far fetched as it seems.

The billionaire venture capitalist said recently that Bitcoin (BTC) would reach a price of $250,000 between six months and a year after the 2020 halving.

BKCM LLC’s Brian Kelly and Fund Strat’s Tom Lee both believe that Bitcoin will absorb capital from the gold market.

The analysts are not sure that such a colossal figure is achievable is such a short space of time, however, analysts agree: Draper’s $250,000 BTC price isn’t inconceivable.

Founder & CEO of the digital currency investment company BKCM LLC Brian Kelly said that although the prediction sounds “bizarro”, (BTC) Bitcoin is known for spectacular price runs, like those seen in 2013 and 2017.

Kelly identified that Bitcoin has been trading within a channel since 2013.

Extending that channel out to the end of 2022, the top is around the $250,000 per Bitcoin mark.

Kelly said that he agrees with the opinion of Draper and others that Bitcoin will absorb gold’s market share over the coming years.

However, he added that he was not sure that the digital asset would reach the $4.5 trillion market capitalization required to hit Draper’s predicted price by the start of 2023.

Next to weigh in on the Bitcoin price call was Fund Strat’s Tom Lee.

Like Draper and Kelly, Lee is overall bullish on Bitcoin.

However, he too is not sure about the tight time frame predicted by Draper.

He said:

“I don’t know if 24 months is how long it would take… If it took 5 years, I think it would still be considered a huge, massive, surprising success.”

In other Crypto news today, Gin Chao, the Chief Strategy Officer of Binance, told trade news outlet BlockTV earlier this year that historical trends imply the crypto asset market has a large amount of upside potential.

In fact, he states that if you take previous cycles into account, of which there were at least three, Bitcoin could find itself in the $50,000 to $100,000 range – around seven to 15 times higher than the current price of $7,200, respectively – in the coming decade.

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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:

Crypto Market’s Long-Term Trend is Positive: Binance CEO Explain Why

Bitcoin at $250k? Analysts Weigh in on Draper’s “Bizarro” Call