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In this exclusive interview with CMDX founder Tom McMurrain, the early cryptocurrency adopter predicts Bitcoin to 10-20x in value by the year 2026, which suggest a $580,000 – $1,160,000 BTC price.
He also reveals his bullishness for Ethereum, saying he sees the leading smart contract platform growing 100x bigger than it is right now suggesting a $400,000 ETH price.
“I think we’re gonna hit the tipping point of people having wallets by the end of 2023. That means that 13% of the world has a cryptocurrency wallet.
Then I see from 2023 – 2026 is when mass adoption occurs. Realistically we’ll peak out at 10 years later so 2030 is what I’m looking at.”
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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.
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$100K BITCOIN EARLY AS NEXT MONTH SAYS BLOOMBERG ANALYST AS GOLD INVESTORS MOVE TO BTC AND ETHEREUM!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Gold is experiencing outflows as investors embrace cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), according to Bloomberg commodity strategist Mike McGlone.
The commodity strategist predicts a $100K BTC price as early as October as a result of a futures-based Bitcoin exchange-traded fund (ETF), a financial product that provides exposure to the flagship cryptocurrency via derivatives, could be launched by the end of next month.
“… potentially by the end of October. But [as] a futures-based ETF, kind of the way you track most commodities. … So it’s just a matter of time.
[U.S. Securities and Exchange Commission chair Gary] Gensler even hinted at that. It’d be a nice little baby step for the SEC. So it makes sense.”
In other trending Bitcoin News today: Bitcoin and Ethereum Looking Strong as Institutional Crypto Activity Hits Critical Mass: Mike Novogratz!
Billionaire and Galaxy Digital CEO Mike Novogratz says corporate interest in Bitcoin and Ethereum has never been higher.
In a new interview with CNBC, the top executive says that even though crypto markets just suffered through an “ugly” moment, institutional interest is clearly ramping up.
“We held 40,000 in BTC and 2,800 in ETH. These are important levels for people to watch [because] as long as those hold, the market is in very good shape.
I’ve seen nothing but engagement and activity from our investing and corporate clients. The level of inquiry [and] the level of business has never been higher. We see so much capital coming into the space in private ways and in public ways. I’m not nervous.”
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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.
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BITCOIN PRICE WILL REACH 8K BY DECEMBER 2021 AS 'THE NEW GOLD', SAYS CITIBANK ANALYST!!
➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net
Bitcoin is the new gold, said Thomas Fitzpatrick – a Managing Director in the giant multinational bank Citibank.
He also predicted that BTC could skyrocket to $318,000 per Bitcoin in the upcoming 13 months by exploring several historical price cycles and the ongoing economic uncertainties.
Fitzpatrick has spent 22 years as the Global Head of Citibank’s G10 Forex business arm called Citi FX Technicals. Apart from analyzing the foreign exchange market, though, he recently explored the performance of gold and Bitcoin as outlined by a popular cryptocurrency commentator.
The Managing Director at Citibank emphatically noted in the report that “Bitcoin is the new gold.” He highlighted BTC’s limited supply and digital form as two of its most distinctive features.
Bitcoin also “moves across borders easily and ownership is opaque.” That last point is “very relevant” as “the huge Fiscal deterioration of today has a cost in the future, either directly or indirectly.”
Additionally, Fitzpatrick weighed in on the argument of how would central bank digital currencies (CBDCs) impact the primary cryptocurrency and world economies:
“This is a double-edged sword. On one side, it [CBDC] creates a much more effective mechanism for distributing stimulus (particularly fiscal), but on the other side, it also makes capital confiscation easier (e.g., negative interest rates.) Both these scenarios would look to me to be positive
Bitcoin and in the 21st Century give us the digital equivalent (Bitcoin versus FIAT digital) of what we saw in the 20th Century when the financial regime changed (Gold versus FIAT paper).”
Apart from comparing BTC to gold, Fitzpatrick also examined Bitcoin’s historical price performances and provided a somewhat optimistic prediction, as the chart below demonstrates.
Fitzpatrick touched upon Bitcoin’s massive volatility and remarkable price developments during the last decade. He highlighted the two most significant market booms.
Those are BTC’s two-year-long rally from 2011 to 2013, where its price multiplied by “an incredible 555 times” and the latest major bull run that culminated in 2017’s all-time high of $20,000.
However, he also pointed out that a vicious bear market followed in both cases, which dropped BTC’s price by about 85%.
Fitzpatrick believes that Bitcoin is actually in a bull market now that started in December 2018 and could lead to groundbreaking price territories. As he noted that every new cycle is longer than the previous one, the current one could end in December 2021. This time horizon allows for BTC to explode in value and “move as high as $318,000.”
With Bitcoin’s price currently sitting at $16,000, such a 1,900% price surge sounds a bit far-fetched at the moment, to say the least.
However, it’s worth noting that Fitzpatrick’s model is not the only one that sees BTC reaching similar territory. The creator of the famous stock-to-flow model foresees $288,000 per coin by December 2021.
In other trending Bitcoin News today:
“Stocks Boom, Dollar Gloom: 5 Things To Watch In Bitcoin This Week”
Bitcoin (BTC) begins a new week with stocks rising and the U.S. dollar falling — all while trading back above $16,000. What’s next for price action?
1- Stocks near all-time highs while USD sinks
2- Bitcoin in 3rd highest weekly close
3- Institutions aren’t selling
4- Fundamentals trend upward
5- How much extreme greed is possible?
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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.
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The EC meets in D.C. in 29 days. Nothing re election will resolve before then. #Bitcoin will hit 28,000
— Max Keiser (@maxkeiser) November 15, 2020
#Bitcoin Highest Weekly Closes:1. December 11-17, 2017 – $18953.002. January 1-7, 2018 – $16124.023. November 9-15, 2020 – $15976.644. November 2-8, 2020 – $15489.15
Next weeks/months are going to be fun.
— Jimmy Song (송재준) (@jimmysong) November 16, 2020
https://cointelegraph.com/news/stocks-boom-dollar-gloom-5-things-to-watch-in-bitcoin-this-week
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“Bitcoin Could Go to “Bitcoin Could Go to $1,000,000” Says Kraken’s Head of Business | BTC Model Predicting $100K by 2021,000,000” Says Kraken’s Head of Business | BTC Model Predicting 0K by 2021
➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net
Kraken Head of Business Dan Held explains why he believes the Bitcoin (BTC) price could reach $1,000,000.
Dan Held has been involved in crypto since 2013. In his latest interview with Cointelegraph, he dives into the early crypto meetups in San Francisco’s Mission District and explains how the price of one BTC could eventually reach a million dollars.
Bitcoin will become “very boring” Bitcoin is famous for its volatility, but Held thinks that won’t always be the case.
He believes Bitcoin to be digital gold. With that thesis comes the expectation that there will be immense growth in the asset’s market capitalization.
“Bitcoin in its final stages decades from now will be something very boring. Like our grandkids will go, ‘Grandpa, Grandma, I only hear about Bitcoin. Everyone’s got Bitcoin.’ It’s like, who cares? Like it’s a boring investment. It’s like holding cash.”
Held predicts Bitcoin to hold from $5 trillion to $100 trillion dollars of value in its “final stages.”
This would result in a transformation from a highly volatile asset to a “very boring” currency. Held’s belief in Bitcoin is unshakeable.
He’s seen his net worth go up and drop 80% three times. And yet, 90% of his current net worth remains in Bitcoin.
His unwillingness to diversify his portfolio comes from a staunch belief that blockchain technology is only useful for Bitcoin.
“Satoshi purposely built blockchain tech to build Bitcoin. Blockchain tech sucks. It’s terrible. It makes so many tradeoffs to build Bitcoin that it is basically ineffective for almost anything else.”
Under this line of thought, which he calls “Bitcoin minimalism” to spite Vitalik Buterin, he doesn’t see a reason for altcoins to exist.
To Held, altcoins are just experiments that have yet to prove blockchain is useful for anything but Bitcoin.
In other trending Bitcoin News today:
Sparks Fly as Critics Question Bitcoin Model Predicting $100,000 by 2021
The Bitcoin Stock to Flow (S2F) model created by the pseudonymous analyst “PlanB” has been a controversial subject over the past year.
A majority of cryptocurrency investors on Twitter seemingly believe in the model, though it’s increasingly come under fire.
Debate about PlanB’s work has come to a head over the past few days as prominent commentators have chimed in.
The model predicts that after 2020’s block reward halving, BTC will rise to a market capitalization of $1 trillion.
That corresponds with approximately $55,000 per coin. It has since been updated with a new regression formula that suggests Bitcoin will reach $100,000 in 2020 or 2021.
PlanB’s updated iteration of the model has a high R squared value of ~95% and is purportedly “cointegrated” with BTC’s price.
Statistics lingo aside, the S2F model’s proponents say that this is a confirmation that the model has credence.
“Why are people dunking on the s2f model just a few difficulty adjustments past the halving? The prediction was that BTC will be $100k before the end of 2021. Declaring victory now is like declaring victory 5 minutes into the game.” – Jimmy Song
“So far, the arguments “debunking” S2F for BTC appear to be just random word-salads by attention seekers. S2F is a valid and vital analysis of Bitcoin price that provides excellent insight into the market.” – Max Keiser
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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:
In this interview I debunk these arguments:– “S2F is invalid because it doesn’t work for altcoins”
– “Scarcity doesn’t give something value. I own a pair of socks my grandma made of which only 1 pair exists in the world. How valuable does that make them?”https://t.co/YS1pQiVsBs
— PlanB 🔴 (@100trillionUSD) July 3, 2020
Why are people dunking on the s2f model just a few difficulty adjustments past the halving?The prediction was that BTC will be $100k before the end of 2021.
Declaring victory now is like declaring victory 5 minutes into the game.
— Jimmy Song (송재준) (@jimmysong) July 2, 2020
So far, the arguments “debunking” S2F for BTC appear to be just random word-salads by attention seekers.
S2F is a valid and vital analysis of #Bitcoin price that provides excellent insight into the market. https://t.co/diqJfThIg3
— Max Keiser (@maxkeiser) July 3, 2020
Sparks Fly as Critics Question Bitcoin Model Predicting $100,000 by 2021
https://cointelegraph.com/news/krakens-head-of-business-bitcoin-could-go-to-1-000-000
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