BITCOIN TO HIT $250K IN JANUARY 2022 BUT ‘INVALIDATE’ S2FX BTC PRICE MODEL – NEW PREDICTION!!

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A Bitcoin price prediction of $760,000 – more than 12 times the current price – would strike most people as delusional.

But this eye-popping target doesn’t come from a BTC fanboy on Twitter or Reddit…

It comes from Wall Street’s latest superstar: ARK Invest CEO Cathie Wood.

The current Bitcoin price of about $60,000 is the base. Wood sees institutional investors adding $500,000 to that and emerging market adoption adding $100,000 to $200,000 more.

So Wood’s five-year BTC price target is actually a range between $660,000 and $760,000, with $700,000 falling just below the middle of the range.

In other trending Bitcoin News today: Ethereum ‘huge Cup & Handle pattern’ reaffirms $6.5K ETH price target!

The bullish outlook appears as ETH’s price decline stalls near its old cup-and-handle resistance level, now acting as support and thus raising the potential of a strong rebound ahead.

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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:

Yes, Cathie Wood’s $700,000 Bitcoin Price Prediction Is Legit

https://www.express.co.uk/finance/city/1449261/bitcoin-news-jp-morgan-el-salvador-bitcoin-geothermal-energy-bitcoin-volcanoes

https://cointelegraph.com/news/ethereum-huge-cup-handle-pattern-reaffirms-6-5k-eth-price-target

https://cointelegraph.com/news/60k-becomes-resistance-5-things-to-watch-in-bitcoin-this-week

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Morgan Creek Digital co-founder Anthony Pompliano says Bitcoin’s status among traditional investors is starting to change.

In an interview with Yahoo Finance, Pompliano says the longer BTC continues to thrive and prove naysayers predicting its demise wrong, the more people will take notice of its remarkable rise in value over the last decade.

He points to the fact that JP Morgan is now providing banking services to crypto exchanges Coinbase and Gemini as a sign of what’s to come.

“Bitcoin is not going away. You’re starting to see a lot of Wall Street investors actually putting it in their portfolios. And they’re starting to also have some track record for these exchanges or businesses, so they can see the financial performance.

So I think ultimately, what you’re really going to start to see is banks can’t ignore this space.”

Pompliano says he’s seeing institutional investors increasingly view Bitcoin as a hedge against the volatility of other financial markets.

“About a year ago, it started to be a thing like, oh, that hasn’t died yet? Maybe I should do some more work and get educated on it. Now what we’re seeing is two separate groups of people. Some that have done that work and are now gaining exposure. So you see someone like a Paul Tudor Jones come in and say he’s got 1-2% of his portfolio. And he’s worried about inflation given all the printing that’s going on…

In the second bucket, what you’ve got is a lot of institutional investors that are sitting there saying, ‘Look, I’m just doing asset allocation and this asset is very unique in that it, over a long period of time, has been non-correlated to other assets. It’s able to improve my Sharpe ratio and can actually drive on a risk reward standpoint a significant increase in my performance by only allocating a small amount of capital.”

Pompliano says he’s not wavering from his personal Bitcoin prediction price path through 2021.

“My guess is we’ll continue to grind up for the next 18 months or so, and I do expect it to be the best performer coming out of this crisis. I’m on record as saying I think Bitcoin will hit $100,000 per BTC by 2021, which is obviously more than a 10x increase in a relatively short period of time in the traditional financial world.”

In other trending Bitcoin News today:

Top Analyst: Bitcoin, Ethereum and XRP on the Edge After Halving – Here’s What to Watch for Next

Crypto analyst and author of An Altcoin Trader’s Handbook, Nik Patel, is updating his outlook on Bitcoin, Ethereum and XRP.

Patel says Bitcoin is facing a crucial moment at the $9,500 level. If the king of crypto can hold above that line, he believes a push to $10,550 is on the horizon.

If not, he believes the bears will likely mount a comeback.

“This is why 9450-9500 is going to be super important post-halving… There will be a lot of sell pressure coming in from everyone who’s been shafted after longing the breakout [and] retest. Overcome that and I think 10550 and higher is on the cards.”

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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:

$BTCThis is why 9450-9500 is going to be super important post-halving on Tuesday.There will be a lot of sell pressure coming in from everyone who’s been shafted after longing the breakout > retest.

Overcome that and I think 10550 and higher is on the cards. pic.twitter.com/ZLNnrZmAb5

— Nik Patel (@cointradernik) May 10, 2020

https://cointelegraph.com/news/forget-btc-price-its-now-possible-to-trade-bitcoin-hash-rate-futures

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More data is flowing in suggesting that May’s block reward halving will initiate notable gains in the BTC price.

This latest analysis suggests that the Bitcoin price will slowly move up for the rest of the year, and eventually eclipse its all-time high.

Analyst Bitcoin Jack has posted a graph on Twitter that examines a range of indicators on the weekly closing prices, all of which point to an impending bull run.

He has tweeted: “$BTC fair price analysis update. 40% on our estimated time of price spent below the 0.5 of the entire consolidation range since 20K. In ’13-’17 consolidation saw 41.57%.

One way or another, the math suggests there has been enough discount below fair price to grind up rest of year.”

This chart examines moving averages and fibonacci sequences of the present market and compares them to similar data from the 2013-2017 bull run.

There is a clear parallel with much of the data.

Thus, if the pattern continues, Bitcoin’s price will move up for at least the next twelve months.

It is worth noting that Bitcoin Jack is not predicting a rapid price spike, at least not by crypto market standards.

Rather, he suggests that Bitcoin will move up steadily, as it did during the last bull run that lasted until early 2018.

Nevertheless, the cryptocurrency could still see a new all-time high within a few months.

Bitcoin Cash (BCH) Halving Officially Done, Reward Cut in Half:

Bitcoin Cash halving is here! At block height 630000, the halving occurred and the block reward has now fallen to 6.25 BCH from 12.5 BCH. 

Bitcoin Cash’s halving, that occurs every 210,000 blocks or four years, came over a month before Bitcoin’s because of its initial problem with its difficulty adjustment algorithm in 2017.

As we recently reported, Bitcoin Cash shares the same SHA-256 mining algorithm as Bitcoin and Bitcoin SV (BSV) which means, miners can seamlessly redirect their hash power to the asset that is more profitable to them.

Because Bitcoin will still have 12.5 BTC rewards for a month longer, when Bitcoin Cash today and Bitcoin SV tomorrow halve their rewards, this should force miners to direct more hash power to bitcoin which already accounts for nearly 95% of 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:

Bitcoin Price Next Stop $23,000 as Halving Approaches

https://bitcoinexchangeguide.com/bitcoin-cash-halving-official-done-reward-cut-in-half-but-bch-price-is-flexing-for-now/