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

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Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is “conservative,” and those levels should hit in less than two years.

That was according to Blockstream CEO Adam Back, who delivered a fresh bullish Bitcoin price outlook on Monday.

Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor Ark, who in September forecast a BTC market cap of $1 trillion to $5 trillion by 2030 at the latest.

Ark is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise in 2020.

“Conservative. I’d say bitcoin likely sees $1 trillion market cap within 2 years, probably sooner. $1 trillion is about BTC $50k,” he said.

As of October, Bitcoin’s market cap is just over $198 billion.

For Back’s prognosis to come true, the market would need to see a 400% increase by 2022.

For reference, at the start of October two years ago in 2018, the figure stood at $114 billion.

BTC/USD traded at $6,600, two months before the pit of its bear market which bottomed out at $3,100.

Further responses to Ark included on-chain data resource Ecoinometrics, which highlighted a $2 trillion Bitcoin market cap as equal to that of Apple.

BTC/USD would trade at $100,000 under such circumstances, while to equal gold, the pair would need to reach $500,000.

BTC price activity is currently much more subdued, with analysts expecting more sideways action to characterize the remainder of the year. 

At the same time, anticipation is building over BTC/USD abandoning its correlation to traditional macro assets and rising in line with historical behavior — specifically centered on predictions from the stock-to-flow price forecasting models. 

Stock-to-flow calls for an average price of $288,000 during the current halving cycle, which began in May and will last until 2024.

Adam Back: Crisis Will Push BTC to $300K Even Without Institutions

The Bitcoin pioneer says that unlimited money printing will drive retail investors toward BTC and push the price to $300,000 within five years.

In an interview with Bloomberg — in which he once again denied he was Bitcoin (BTC) creator Satoshi Nakamoto — Back outlined his thinking behind the sky-high price prediction.

The cypherpunk OG — who was cited in the Bitcoin white paper — added that BTC may not need the long-awaited flood of institutional money to push it into a bull run.

“It might not require additional institutional adoption because the current environment is causing more individuals to think about hedging,” Back said.

“And retaining value when there’s a lot of money printing in the world.”

In January, Back responded to reports that had unearthed early Bitcoin dev Hal Finney’s wild speculation that Bitcoin may be worth $10 million one day.

Back said that it was entirely possible that high inflation could make $1 worth $0.10 over a decade or so, which would mean: “$10mil/BTC is $1mil/BTC in today’s money.”

“And $100K Bitcoin doesn’t seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.”

With that in mind, it’s possible that Back expects a $300,000 BTC price in five years’ time to be more achievable, as it would be worth considerably less in today’s money due to inflation.

In other trending Bitcoin News today:

Bitcoin and Ethereum Bull Raoul Pal Details How to Spot the Next 100x Investment

The Real Vision CEO Raoul Pal is sharing his blueprint for how to spot the next investment with 100x potential.

In an interview with Chris Dark, the host of Dr Dark after Dark, Pal says you don’t have to venture far to find that life-changing bet.

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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 30 day historic volatility has been falling fast and is in the 20’s. In the past it has hit 20% vol 7 times. 6 times prices exploded higher immediately and vol hit 80% in a few months. 1 time (Nov 2018) prices fell sharply. Either way, a big move is coming soon. #Bitcoin pic.twitter.com/9qKdLcAf0V

— Raoul Pal (@RaoulGMI) October 7, 2020

https://cointelegraph.com/news/bitcoin-pioneer-predicts-1t-btc-market-cap-by-2022-or-sooner

https://cointelegraph.com/news/adam-back-crisis-will-push-btc-to-300k-even-without-institutions

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

The ongoing Bitcoin downside correction is strikingly similar to its price action in June-December 2019. BTC faces the prospects of reaching $47,500-$50,000 based on its current trend’s eerie similarity.

TradingShot, a market analytics platform, noted that a bullish divergence formation, coupled with a rebound from the 50-week SMA support, could again send Bitcoin prices to the 61.8% Fib level of the current top-to-bottom Fibonacci retracement graph.

In a chart provided by TradingShot, the 61.8% Fib level appeared near $47,500. Meanwhile, the other chart above showed the profit target near $50,000.

In other trending Bitcoin News today: Here’s the Worst Case Scenario for Bitcoin This Month, According to Crypto Analyst PlanB!

The widely followed analyst, who has gained a massive following for being the first to apply the stock-to-flow model (S2F) to Bitcoin, says the S2F is in a “make or break” phase, where it will either be further confirmed or invalidated in the next six months.

According to PlanB, the worst-case scenario for Bitcoin this month is a monthly close at $28,000. However, the Bitcoin bull says brighter days are ahead for the world’s leading crypto and notes that the worst possible monthly close for BTC in August is $47,000. He also asserts that $64,000 was not the peak 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:

https://cointelegraph.com/news/bitcoin-fractal-setup-from-2019-hints-btc-price-can-rebound-back-to-50k

https://cryptopotato.com/bitcoin-price-analysis-btc-now-facing-huge-resistance-dated-back-to-mid-may/

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

Bitcoin bull and Wall Street veteran Max Keiser has issued a massive BTC price prediction, saying as game theory suggest, governments around the world will start putting Bitcoin on their balance sheet sending BTC parabolic to $1,000,000. 

The RT host of the Keiser Report shared the following:

“As long as governments control money, there could be no advances in money. Along comes bitcoin, it separates government from money. No government can touch btc, they’re completely divided & divorced.

And as I predicted, if you gave people hard money like bitcoin to transact without the interference of government it would be an economic global boom, a renaissance.

We can transact in unconfiscatable, uncensorable money when nobody can stop us because we’re protected by this encrypted shield called the bitcoin protocol that’s impenetrable & nobody can stop us.

Governments have flapped their gums a lot & suggested oh we are against it but none of them can stop it. Eventually one of these governments according to game theory is gonna say you know what, enough is enough we’re gonna start putting it on our balance sheet here.

And whatever country that might be & then every other country will do exactly the same thing and the price of course will go $500K, $600K, $1,000,000 a bitcoin and Max & Stacy will be once again 100%  right.”

In other trending Bitcoin News today:

A Bitcoin Price Dip For Ants? BTC Quickly Rebounds to a New High Above $57,800

The price of Bitcoin (BTC) dipped to as low as $53,905 on Binance overnight, recording a sudden 6% drop. But despite the minor correction, the price of Bitcoin quickly recovered thereafter, reaching a new all-time high above $57,800 on Feb. 21.

Although Bitcoin saw a steep drop within merely hours, analysts pinpointed that it fell to the exact bottom of a short-term trendline.

John Cho, the Director of Global Expansion at Ground X, noted that the drop was a liquidity fill at a lower price.

A liquidity fill simply means when an asset drops after stagnating to fill buy orders at the bottom of the range

A drop was expected because Bitcoin was consolidating with the futures funding rate at around 0.15%.

Across major futures exchanges, the Bitcoin futures funding rate was hovering between 0.1% to 0.2%, and it was particularly high for stablecoin pairs.

Bitcoin futures exchanges use a mechanism called funding to incentivize buyers or sellers based on market sentiment.

For example, when there are more buyers in the market, the funding rate turns positive. When that happens, buyers have to pay sellers a portion of their position every eight hours.

When the funding rate is high but the price of Bitcoin is consolidating, the risk of a big short-term drop increases.

The funding rate for altcoins, including Ether (ETH) and DeFi tokens, reset to around 0.05%. As such, altcoins saw a stronger bounce than BTC.

Misa Christanto, an analyst at Messari, said that in a bear market, everything is correlated. But Bitcoin, which is also considered a “reflation trade,” has been resilient. She wrote:

“US Treasury curve is steepening. Why should we care? Because in a bear market, everything is correlated. So far the headwinds have been on equity returns, on unprofitable tech names. Reflation trades like $BTC unaffected.”

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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:

“As long as governments control money, there could be no advances in money. Along comes #bitcoin, it separates government from money. No government can touch #btc, they’re completely divided & divorced.”-@MaxKeiser🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 20, 2021

“These banks will not compete. They will not introduce anything near a #Bitcoin. Just like there was only one Joan of Arc, there was only one Virgin Mary, there was only one Allah, there can be only one #BTC & it rules supreme.” – @MaxKeiser (Keiser Report 443, May 11, 2013) 🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 20, 2021

In percentage terms, Bitcoin growing from $57K to $1M is the same as going from $3,249 to $57K.

— Stack Hödler (@stackhodler) February 20, 2021

On-Chain Data: The Last Time This Happened, Bitcoin Rose Another 2x

https://cointelegraph.com/news/a-bitcoin-price-dip-for-ants-btc-quickly-rebounds-to-a-new-high-above-57k