BITCOIN WAVE 2 PROJECTED PEAK OF $84K NOVEMBER 9TH-15TH IN PLAY!! NASTY BTC CRASH PREDICTION!!

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Raoul Pal, co-founder and CEO of Real Vision Group, says Bitcoin is a “supermassive black hole” that is eating gold, the NASDAQ, banks, bonds, and commodities.

The global macro strategist notes that he also thinks BTC will outperform the G4 Central Bank Balance sheet, silver and marquee stocks like Apple and Amazon. Says Pal on Twitter:

“Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense.

The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is – Bitcoin.”

Pal predicts BTC will reach $1 million within five years.

The former Goldman Sachs hedge fund manager says Bitcoin is the best opportunity of his career.

“I get this sounds a little evangelical but I’m struggling to see it any other way right now. The supermassive black hole is going to suck in everything. Again, this is there best trade/investment and future opportunity I have EVER found and it has the power to give the little guy a chance to grab their share of the wealth creation before Wall Street does. Grab it.”

Analysts think that the cryptocurrency is poised to rocket even higher in the weeks ahead.

The charts show that BTC is about to break above a pivotal horizontal resistance at $14,000, which should trigger a move toward $20,000 and beyond in the months ahead:

“There are literally only two resistances left on the bitcoin chart – 14,000 and then the old all-time high at 20,000. I fully expect new all-time highs by early next year at the latest.”

Other prominent investors in the crypto space expect a strong rally in the months ahead.

Tyler Winklevoss, one of the two Winklevoss Twins that launched Gemini and are now Bitcoin billionaires, commented recently:

“I do think we will see an all-time-high price for Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run.”

Pal thinks it’s logical to invest in Bitcoin due to the coin’s increasingly strong performance against all other assets, which should drive institutional players and retail players into the mix:

“Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense. The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is – bitcoin.”

It’s worth noting that Pal says to have more than 50% of his net worth in Bitcoin, arguing that it may be the best trade of his lifetime.

In other trending Bitcoin News today:

Bitcoin Price Sees Pullback, But Bulls Still Marching Toward $20K

Bitcoin’s price saw a 4% drop in the last 24 hours, but it’s unlikely to see a correction like in previous cycles for three reasons.

The price of Bitcoin (BTC) has increased by 36% in the last 35 days, showing a strong rally.

The market sentiment has been optimistic due to rising institutional demand and the perception of BTC as an inflation hedge.

But after a large uptrend, the belief that BTC may pull back has begun to increase.

While a minor correction could occur, like the 4% downward trip to just under $13,000 on Oct. 28, a sizable downtrend is becoming increasingly unlikely.

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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 is eating the world…It has become a supermassive black hole that is sucking in everything around it and destroying it. This narrative is only going to grow over the next 18 months.

You see, gold is breaking down versus bitcoin…and gold investors will flip to BTC pic.twitter.com/ox7KRY5VRo

— Raoul Pal (@RaoulGMI) October 27, 2020

I do think we will see an all-time-high price for #Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run

— Tyler Winklevoss (@tyler) October 27, 2020

As I’ve been pointing out… There nothing but air from $14,000 to new ATH

I don’t expect any kind of pullback until $28,000 and it may be short lived. https://t.co/UC0iCCVzp6

— Max Keiser (@maxkeiser) October 27, 2020

Wall Street Veteran Raoul Pal Thinks Bitcoin Will Pass $20,000 in Q1 2021

https://cointelegraph.com/news/bitcoin-price-sees-pullback-but-bulls-still-marching-toward-20k

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Bitcoin has been subject to troubling price action over the past week.

At the local lows, BTC traded as low as $8,600 on some exchanges — approximately 15% shy of the highs before bouncing back above to the $9,100 support this morning.

It should come as no surprise that some have taken the recent price action as a death knell for Bitcoin’s bull trend, which began in March when the asset rallied strongly off the $3,700 lows.

Yet the bearish trend may soon come to an end. Crucial fundamental and technical factors, in fact, have shown that BTC is primed to revert back into a rally after the recent correction.

Three of these factors are as follows.

#1: Bitcoin Prints Textbook Falling Wedge Pattern

According to a prominent crypto trader, Bitcoin is printing a textbook bullish sign: a falling wedge. Falling wedges, studies suggest, have a high likelihood of breaking higher. Such patterns have also preceded strong gains in the Bitcoin market over the past few months.

#2: Tensions Between the U.S. and China Grow; Yuan Crushed

Since our last report on the situation between the U.S. and China due to the Hong Kong democracy movement, things have become worse due to fears of sanctions.

The Chinese yuan, as Twitter account “Yuan Talks” noted, is at its weakest level since September 2019 — the peak of the 2019 trade war. Bitcoin stands to benefit as it can act as a safe-haven for Chinese investors trying to mitigate the risks of a falling domestic currency.

Chris Burniske, a partner at Placeholder Capital, explained: “If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness.”

#3: Central Banks and Governments Continue to Print Trillions, Boosting Bitcoin Bull Case

Due to the outbreak of an illness, the global economy has been thrown into a recession.

Dozens of millions have become under/unemployed, while consumer confidence, spending, and other key economic metrics have fallen off their respective cliffs.

It’s a trend that has forced governments to respond by printing money, boosting Bitcoin’s intrinsic value.

Japan made this much clear recently. According to global markets tracker FXHedge, which shares news headlines related to the global economy, a new document suggests that the Japanese government is looking to implement a stimulus package worth 117.1 trillion yen — $1.1 trillion.

Although this isn’t likely to cause instant inflation — Japan has been nearly deflationary for years upon years now — analysts say this stimulus and others like it are bullish for Bitcoin.

In other trending Bitcoin News today:

Bitcoin ‘Hodl Wave’ Data Has Now Been Calling a Bull Run for 5 Months

Hodl waves show that over 60% of the supply has not moved for a year or more, something which historically has signaled price upside.

“60% of all bitcoin has not moved on the blockchain for at least 1 year. This is an indication of significant hodl’ing. The last time this happened was in early 2016, at the start of the bull run.”

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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:

60% of all bitcoin has not moved on the blockchain for at least 1 year. This is an indication of significant hodl’ing.

The last time this happened was in early 2016, at the start of the bull run.#bitcoin pic.twitter.com/Rh5efLHOD0

— Philip Swift (@PositiveCrypto) May 26, 2020

Goldman Sachs is hosting a client call today at 10:30 AM EST discussing inflation, gold and bitcoin. There’s a lot of conjecture floating around as to the content.
I will be on the call and will let you know what they actually say. pic.twitter.com/VJkxaPpUzB

— The Wolf Of All Streets (@scottmelker) May 27, 2020

https://cointelegraph.com/news/bitcoin-hodl-wave-data-has-now-been-calling-a-bull-run-for-5-months

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Jack Dorsey of Twitter and Square Crypto is working to solve the Bitcoin scalability problem.

A multi-trillion-dollar market cap could be at stake. 

Tim Draper has not backed off his Bitcoin prediction that the BTC price will skyrocket to $250,000 in 2023.

The venture capitalist who invested in Skype, Tesla, and SpaceX believes that key improvements happening on the Bitcoin network will catalyze the surge in valuation.

Developments such as the Open Node and Lightning Network are helping Bitcoin’s cause.

Nevertheless, Draper believes that more engineering needs to be done so that the number one Crypto can become a widely-used currency.

Fortunately, Jack Dorsey is hard at work to help create the infrastructure so that Bitcoin (BTC) can become the “native currency” of the internet.

Draper believes that the Bitcoin price can get to $250,000 if people start using it for day-to-day payments.

Currently, the top cryptocurrency is having a huge problem with scaling.

It can only process seven transactions per second.

This means when buying coffee, it will get cold before the merchant receives payment.

The good news is that Twitter and Square CEO Jack Dorsey is developing solutions to supercharge Bitcoin’s throughput.

Earlier this month, Square Crypto announced that its team is developing a Lightning Development Kit (LDK).

Bitcoin Price Indicator That Called 2019 Bull Run Flashes Green Again Leading the positive signs is a useful but somewhat forgotten indicator dubbed the Guppy.

This is a collection of exponential moving averages which has flashed green on the daily chart for the first time in around 300 days.

The interval is significant – the last flip from red to green for Guppy was on April 9, 2019, coinciding with Bitcoin’s rapid rise to highs of $13,800. 

Before that, Guppy also turned bullish on Jan. 14, 2018, when Bitcoin briefly rose above $9,000 on the way down from the all-time high a month earlier.

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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:

$BTC #BITCOINNice breakthrough of $8,600 level and we’re back in the range. This means that the $8,000-8,100 level has now flipped as support.

Eyeing to see a retest of $8,500. Holding that and we can aim for $8,900. pic.twitter.com/bQKyGYSzNy

— Crypto Michaël (@CryptoMichNL) January 27, 2020

In a world with 10,000 crypto currencies, bitcoin simply..refuses..to die.Maybe its unique combination of technical and ‘belief’ networks endows it with some durable value.

How much? We slice it three ways and a $1T is not off the mark. pic.twitter.com/i99grrbWZn

— James Wang (@jwangARK) January 16, 2020

.@jack‘s Square wins patent for fiat-to-crypto payments network

+ Tech will allow sending party to pay in any currency while allowing recipient to convert payment into their currency of choice https://t.co/FwNy3xNpDj

— Messari (@MessariCrypto) January 22, 2020

https://cointelegraph.com/news/bitcoin-price-indicator-that-called-2019-bull-run-flashes-green-again

https://www.ccn.com/will-jack-dorsey-help-propel-bitcoin-to-250000/