BITCOIN WILL DEFY REGULATORS WITH ‘TENFOLD RISE IN VALUE’ TO OVERTAKE GOLD SAYS ARK INVEST CEO!!

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The Bitcoin price will hit $250,000 by 2022 according to legendary billionaire venture capitalist Tim Draper who was the first to go on the record with his quarter million dollar BTC price prediction.

There have been many fears over recent years that central banks and other authorities will target Bitcoin as they may see it as a threat to traditional financial infrastructure.

According to Dan Tapiero, though, these fears are unfounded for the time being. Dan Tapiero is the co-founder of DTAP Capital, Gold Bullion Int., amongst other firms.

He has been closely following Bitcoin for a while now, being one of the first macro voices to enter the space.

He recently commented that until Bitcoin hits $250,000, or a market capitalization of around $5 trillion, it may not have relevance on a macro scale:

“$200 billion too small to matter for macro authorities. Gold is $12 trillion and no one really cares. Bitcoin has clearance up to at least 250k. 25x before big boy global macro authorities start caring that it exists.”

His contemporary Raoul Pal, a former Goldman Sachs head of hedge fund sales and Real Vision CEO, recently commented that Bitcoin is “irrelevant on a global asset scale.”

“Yeah, 100% agree. It’s currently irrelevant on a global asset scale. As you say, even a $10trn doesn’t concern most central banks. The FX market trades half that in a day. DTCC clears and settles something over a quadrillion in a year.”

It’s worth noting that both of the investors are extremely bullish on Bitcoin.

Both believe that the leading cryptocurrency will undergo an exponential rally this market cycle that will take it above $100,000 and beyond.

Tapiero’s and Pal’s point that Bitcoin currently isn’t relevant on a macro scale has been echoed by Tom Lee of Fundstrat Global Advisors.

Lee said at a conference in Singapore in 2018 that before a Bitcoin ETF should be approved by the U.S. Securities and Exchange Commission, it should trade at $150,000 or more.

Bloomberg wrote on his comment:

“If you’re involved in crypto, the SEC can look like an obstacle,” Lee said.

“They’re establishing protections for individuals and right now it’s not convenient for the industry, but if the SEC is someone that people trust” to protect them, “that’s how you get the mainstream willing to get involved in cpypto.”

In other trending Bitcoin News today:

Former Goldman Sachs Exec Says Bitcoin ETF Will Be Approved, Bringing Billions Into Crypto Market

Raoul Pal, former Goldman Sachs exec and hedge fund manager, says that Bitcoin is offering a rare opportunity for retail investors to get out and invest in the next big thing before institutional investors.

In a YouTube interview with Jerry Hall, Pal says that a proper Bitcoin exchange traded fund (ETF) will be the catalyst that brings billions of dollars into BTC and exponentially expands the market capitalization of the largest cryptocurrency. 

“You’re allowed to front-run in Bitcoin, and I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate because the larger the market cap of Bitcoin is… This is an opportunity for retail to front-run the institutions for once as opposed to Goldman Sachs front running us.”

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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:

Analysts: Bitcoin May Surge Up to $250,000 Before Macro Authorities Care

The Last Time Bitcoin Formed This Signal, It Surged $2,500

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According to a cryptocurrency trader, Bitcoin will see a “monster breakout” in the next three days as the BTC price continues to tighten on a macro scale.

He shared the chart which shows that per the Bollinger Bands, a key technical indicator denoting volatility and key levels, BTC’s price action is extremely tight.

Separate analyses of the Bollinger Bands indicator have found that they are at their tightest levels since November 2018.

What followed the consolidation, of course, was a 50% drop over the span of two weeks that ended the bear market.

This suggests there will be an imminent move of macro proportions, likely to play out within the next week or two.

Bulls Are In Control?

Volatility indicators do not indicate which way the leading cryptocurrency will break.

But with this latest news and new analyses, a growing number of traders are betting on the case for upside.

KI Young Ju, the chief executive of cryptocurrency analytics firm CryptoQuant, shared the charts below on July 20th.

Attached, he wrote that there are three on-chain indicators signaling investors to “BUY.”

These indicators are as follows:

* Addresses linked to Bitcoin miners are not sending their coins to exchanges, suggesting they are not being sold. * Large BTC holders deemed “whales” remain HODLing their coin.

* The reserve of BTC on exchanges “hit the year-low a month ago and [it has kept] that low.

This suggests there remains an accumulation mindset amongst a majority of cryptocurrency investors.

Further adding to the bull case forming, digital asset manager Charles

Edwards noted last week that his flagship indicator just printed a macro buy signal. “Bitcoin Hash Ribbons “Buy” signal just confirmed.

The post-Halving signal is particularly special.  It will probably be a very long time until the next occurs. …and so the great bull run begins.”

In other trending Bitcoin News today:

Bitcoin Appears Ready for Extraordinary Move in Just 48 Hours, According to Morgan Creek Digital Partner

Bitcoin’s three-month-long tightening trading range may end in about 48 hours, says Morgan Creek Digital executive Jason Williams.

Williams tells his 41,000 Twitter followers that BTC appears to be poised for a big move as the leading cryptocurrency approaches the apex of an ascending triangle pattern on the short-term timeframe.

“This feels like a little World Cup of sorts. Bitcoin could break out on or about the 22nd. I don’t think I would want to be on the sidelines going into this… Bitcoin volatility could be extraordinary to the upside.”

The Morgan Creek Digital co-founder is not the only analyst who expects the end of BTC’s tightening range soon.

Crypto strategist Ethereum Jack sees the king cryptocurrency exploding within the next seven days as Bitcoin’s spot volume hits a level that precedes significant price expansion.

A dwindling volume indicates that many traders are on the sidelines while waiting for an asset to provide clarity in terms of direction.

Meanwhile, the pseudonymous crypto trader Walter Wyckoff believes that Bitcoin will breach resistances as it gets a helping hand from a bullish S&P 500.

“Probably SPX [is] gonna rip on vaccine news and if that happens [it is] gonna pull up BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of BTC. Can’t see Bitcoin giga dumping while markets make new highs.”

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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:

This feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.I don’t think I would want to be on the sidelines going into this but low time pref 🧠

Tina and I both agree that #bitcoin volatility could be extraordinary to the upside. @BitcoinTina pic.twitter.com/EWoB0Tv8VW

— Jason Williams 🦍 (@JWilliamsFstmed) July 19, 2020

On-chain Indicators Status: BUY 🟢– Miners are not selling (based on MPI, Miner Outflows)

– No significant #BTC exchange inflows from whales so far

– All exchanges’ reserve hit the year-low a month ago and keep that low pic.twitter.com/IzEmujvbsU— Ki Young Ju (@ki_young_ju) July 20, 2020

Bitcoin Will See a “Monster Breakout” in the Next Three Days: Analyst

https://dailyhodl.com/2020/07/20/bitcoin-appears-ready-for-extraordinary-move-in-just-48-hours-according-to-morgan-creek-digital-partner

https://cointelegraph.com/news/paypal-to-reportedly-offer-crypto-trading-through-paxos-partnership

https://cointelegraph.com/news/bitcoin-surges-to-93k-for-first-time-in-a-week-is-it-a-fakeout

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Bitcoin pioneer Max Keiser, host of the Keiser Report and Orange Pill Podcast was among the first to insinuate the potential change of heart coming from Ray Dalio regarding BTC. 

“The hedge fund industry is very competitive. Whether or not Dalio believes what he is saying, the magic of Bitcoin is pulling him into its orbit as the price goes higher. Ray Dalio is now one of Bitcoin’s drones. He’s doing Bitcoin’s bidding as BTC continues its march toward becoming the global monetary standard and a $100 trillion market cap.”

In other trending Bitcoin News today:

Bitcoin Price Drops to $52K, Liquidating Almost $10B

Fears of regulatory moves come as a brief hash rate crash from a Chinese power blackout already begins to rebound. Bitcoin (BTC) fell to sudden lows of $52,000 on April 18 in a timely reminder of how price action often follows hash rate.

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

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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:

Gold Has This One Advantage Over Bitcoin, Says Crypto Firebrand Max Keiser

https://cryptopotato.com/max-keiser-as-predicted-ray-dalio-admits-btc-has-proven-its-place-in-portfolios/

https://cointelegraph.com/news/bitcoin-price-drops-to-52k-liquidating-almost-10b