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The Bitcoin value is set to rise tenfold and will overtake that of gold, leading New York investment manager Cathie Wood, the CEO of Ark Invest has predicted.
Cathie Wood, the veteran stockpicker, expects the world’s largest cryptocurrency (BTC) to “comfortably” eclipse gold’s $10 trillion market capitalization.
In other trending Bitcoin News today:
BREAKING: Michael Saylor and Microstrategy have acquired another 253 bitcoin for $15.0 million.
“MicroStrategy has purchased an additional ~253 bitcoins for $15.0 million in cash at an average price of ~$59,339 per BTC. As of 4/5/2021, we hodl ~91,579 bitcoins acquired for ~$2.226 billion at an average price of ~$24,311 per BTC. MSTR”
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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 Poised To Erupt by $10,000 in a Single Day, Says Top Trader
https://cointelegraph.com/news/the-big-60k-hodl-is-on-5-things-to-watch-in-bitcoin-this-week
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“BUY BITCOIN,” ANOTHER BILLIONAIRE VC TELLS INVESTORS LOOKING TO ESCAPE MASSIVE DEFLATION | BTC News
➡️ REPLAY – TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net
‘Buy Bitcoin‘ is emerging as the mantra against the ongoing global financial crisis.
The latest to join the cryptocurrency bandwagon is Chamath Palihapitiya, a billionaire venture capitalist with a history of investments in startups that Google and Microsoft would later acquire.
The Social Capital CEO was appearing on a CNBC daily to speak about the vast disconnect between a suffering economy and a cheering stock and bond market.
“We have completely divorced the economy from the stock and the bond markets,” Social Capital CEO Chamath Palihapitiya says. “The Fed has been the principal agent of that obfuscation.”
Before mentioning BTC, Palihapitiya criticized the U.S. Federal Reserve for launching a stimulus package that helped to inflate assets instead of helping taxpayers and consumers. He added that the central bank’s move neither solved income disparity nor unemployment.
What it did was allowing a few entities to play the financial markets to make more money.
The conversation shifted to the deflationary aspects of the Fed’s stimulus.
While Palihapitiya praised the Fed’s efforts to protect the U.S. economy amidst the coronavirus pandemic, he warned that the central bank’s decision to purchase corporate debt ETFs and balloon its balance sheets further could quicken “a really bad deflationary supercycle.”
When the question about where investors should put their capital as the economy shrinks popped, Palihapitiya recommended Bitcoin.
The veteran praised the cryptocurrency for its lack of correlation with other traditional assets.
He suggested that the feature alone could help investors obtain insurance against a deflating economy, citing Paul Tudor Jones, the founder & CEO of a $22 billion hedge fund, for taking a similar approach.
“Now all of a sudden even he is looking at bitcoin and the reason is [that] we are in this massive deflationary cycle,” said Palihapitiya. “I still struggle to find anything that is as uncorrelated to anything and to everything else than bitcoin.”
BITCOIN ADOPTION ON WALL STREET
Tudor Jones, on Monday, had told CNBC that he is holding about 1-2 percent of his net portfolio in the Bitcoin futures.
The billionaire investor, like Palihapitiya, commended the cryptocurrency for behaving as an insurance against the Fed’s massive money printing.
In other trending Bitcoin News today:
Crypto Milestone: Banking Giant JPMorgan Chase Provides Bitcoin (BTC) Bridge for Coinbase Customers The largest bank in the United States is singing a new tune about Bitcoin.
JPMorgan Chase is now offering banking services to cryptocurrency exchanges Coinbase and Gemini in a pivotal and critical turn for Bitcoin and digital assets as an emerging mainstream form of money.
The Wall Street Journal reports that JPMorgan Chase will allow Coinbase and Gemini customers based in the US to make ACH (automated clearing house) withdrawals and transfers, marking the end of the bank’s anti-crypto era led by CEO Jamie Dimon, the industry’s most outspoken crypto critic.
Dimon called Bitcoin “a fraud” in September of 2017. The chief executive went a step further when he threatened to fire any “stupid” employees caught trading the cryptocurrency.
That position has melted in the wake of the macro economic landscape that is awash in money printing, instability, mounting debt, shrinking GDP and a tumultuous stock market that has left investors looking for a hedge.
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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:
2014: “Bitcoin is a terrible store of value,” said Jamie Dimon2015: “Bitcoin will not survive”2016: “Bitcoin is going nowhere”2017: “Bitcoin is a fraud”2018: “I don’t really give a shit about bitcoin”
2020: –>https://t.co/rAWTvg2zL3
— Barry Silbert (@barrysilbert) May 12, 2020
“Buy Bitcoin,” Another Billionaire VC Tells Investors Looking to Escape Massive Deflation
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Navigating the Storm: Bitcoin Faces Prospect of Consolidation until 2022 Amid Mass Wipeout
In a sudden turn of events, the cryptocurrency market is grappling with a mass wipeout that has sent Bitcoin’s price tumbling to $41,000, leaving investors and enthusiasts on edge. The latest speculation suggests that Bitcoin could undergo a period of consolidation, extending into 2022, as the market attempts to find stability after the recent wipeout.
The article at the center of this discussion sheds light on the challenges faced by Bitcoin as it experiences a significant price correction. The term “consolidation” suggests a period of relative stability, wherein the cryptocurrency may trade within a certain range as market forces seek equilibrium.
The mass wipeout has caught the attention of the crypto community, prompting questions about the factors that led to this abrupt downturn. External factors such as regulatory developments, macroeconomic trends, and market sentiment often play a role in shaping Bitcoin’s price movements, contributing to moments of volatility.
For investors, the prospect of Bitcoin consolidating until 2022 introduces a period of uncertainty. Such phases can test the resilience of the market and the resolve of those engaged in the crypto space. The key question becomes: What factors will determine Bitcoin’s trajectory during this consolidation period, and what should investors keep in mind as they navigate these stormy waters?
While market analysts may provide insights into potential catalysts and outcomes, it’s essential for investors to approach predictions with caution. The cryptocurrency landscape is dynamic, and unforeseen events can impact the trajectory of digital assets. Staying informed, diversifying portfolios, and exercising risk management are critical strategies for weathering market turbulence.
As Bitcoin faces the possibility of consolidation until 2022, it’s important to recognize that such periods are not uncommon in the volatile world of cryptocurrencies. Past market cycles have demonstrated the resilience of digital assets, with periods of consolidation often preceding renewed momentum.
Whether this period of consolidation serves as a necessary recalibration for Bitcoin or marks a more prolonged phase of uncertainty remains to be seen. As the crypto community watches and waits, the coming months will likely provide more clarity on the trajectory of Bitcoin and the broader cryptocurrency market.
In the grand narrative of Bitcoin’s journey, periods of volatility and consolidation are but chapters in the ever-evolving story of digital currencies. As the year unfolds, market participants will continue to adapt, learn, and position themselves strategically in response to the shifting dynamics of the cryptocurrency landscape.
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,000 Bitcoin Price Prediction From Mysterious BTC ‘Whale Whisperer’ Goes Viral
➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net
A self-declared cryptocurrency whale whisperer known for being a top trader on BitMEX is bullish on the Bitcoin price trajectory over the next five months.
In a new viral tweet, AngeloBTC tells his 150,000 followers on Crypto Twitter that BTC is coiling in a triangle that will lead to an eventual breakout and surge to $16,000 by October.
Last month, Angelo compared the current BTC price path to the early days of its epic run to $20,000 back in 2017.
This time around, he believes Bitcoin is en route to $30,000 in 2021. “Crazy how they had to tank the stock market to shake people out before the halving.
Crazy how we are still going to $30k.” BTC is currently battling psychological resistance at the $9,000 level.
At time of publishing, Bitcoin is down 4.50% in the last 24 hours at $9,072, according to CoinMarketCap.
That’s an 8.39% drop from a recent high of $9,903 set on May 17th.
In the short term, analyst and trader Michaël van de Poppe says BTC is at risk of a further drop to low $8,000 levels.
“Testing the support level here (might wick to $9,100), after breaking below the rising wedge structure. Holding here and we can test the range highs again. If Bitcoin can’t, I’m assuming the $8,200-8,500 level to be tested as support next.”
In other trending Bitcoin News today:
Bitcoin Traders Now Eye $6-7Ks After 4 Failed Attempts to Break $10K
The price of Bitcoin is set to test lower levels as support after numerous attempts to break $10,000 have failed.
Since May 20 Bitcoin (BTC) price has dropped nearly 10%, shifting traders’ focus from taking out the $10K resistance to now holding above the all-important $8,800 support.
The short-term bearish trend took hold after the top-ranked crypto-asset on CoinMarketCap experienced repeated rejections near the $10K mark, which took the form of higher lows at $9,942, $9,905 and $9,849.
Failure to set a higher high above these levels and the steady loss of momentum eventually caused the price to drop below the bullish pennant and the last two days have seen the bearish move intensify.
For the time being, Bitcoin price continues to find support at the ascending channel trendline but the strength of each bounce from this support is beginning to thin and a number of traders are now calling for a revisit to $7,400-$6,500 if the $8,800-$8,575 support gives out.
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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:
Imagine shorting the best performing asset of the decade.
— Angelo฿TC (@AngeloBTC) May 21, 2020
https://cointelegraph.com/news/bitcoin-traders-now-eye-6-7ks-after-4-failed-attempts-to-break-10k
https://cointelegraph.com/news/dont-buy-bitcoin-says-wealth-exec-as-lebanon-chooses-btc-over-fiat
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