BITCOIN WILL EXPLODE TO $1 MILLION AND ETHEREUM $100,000, NO DOUBT, SAYS BILLION-DOLLAR CEO!!

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Could this pandemic be the ‘tipping point’ for the BTC price?

The global spread of the coronavirus played a major role in the dramatic 2020 stock market crash.

The bailout bill for saving the world’s economy is $7 trillion and rising fast.

Bitcoin bull Tim Draper believes this confluence of factors may be the ‘tipping point’ that allows innovations such as Bitcoin (BTC) and smart contracts to flourish.

In an interview on April 6, the global venture capital investor said he was skeptical about the government’s infinite money printing bailout plan and said it would take years before that money “permeates” the global economy.

“They are gonna be printing all this money to try to get the economy back after they’ve basically tanked it,” he said. “They are going to flood it with a bunch of money, and that money is going to be worth less, and less, and less.”

Draper believes people will start turning to Bitcoin as it has a fixed supply, in stark contrast to fiat which is being printed in the billions by central banks:

“This is going to be a really interesting time where people say ‘well, why don’t I just use Bitcoin?’ I know there are only 21 million of them and we don’t have to worry about whether a government is diluting their currency by printing tons of it, we can instead just use a currency we all agree on and it’s all a part of the economy and it’s already frictionless and open and transparent and global.”   

Although there is debate about whether coronavirus may end the trend towards globalization over the past 25 years, Draper believes digital financial innovations like Bitcoin, smart contracts and artificial intelligence will force governments to compete among themselves at the “virtual level” to bring better services at “lower cost” to attract talents. 

This in return will empower people with more choices to move freely and live in a “loving” and “nicer” new global world. He added that:  “It doesn’t matter whether you are from the U.S, China or Russia or India or Europe or whatever, we are an open world and then the geographic borders are going to mean less and less.”

Bitcoin Futures Did Not ‘Manipulate’ Bitcoin Price – Stock-to-flow-Creator

Bitcoin futures do not unfairly impact the price of Bitcoin (BTC), according to the creator of one of the cryptocurrency’s most accurate price models.

In a series of tweets on April 7, PlanB, the pseudonymous analyst behind the stock-to-flow model, argued that futures have not caused the Bitcoin price to behave erratically.

“CME launched BTC futures Dec 2017. Many point to Dec 2017 ATH as proof futures have suppressed prices. But BTC prices stayed perfectly within S2F bands. I would have expected this to happen with or without futures. Nothing unusual.”

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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:

IMO #bitcoin price is NOT manipulated by futures. CME lauched BTC futures Dec 2017. Many point to Dec 2017 ATH as proof futures have suppressed prices. But BTC prices stayed perfectly within S2F bands. I would have expected this to happen with or without futures. Nothing unusual. pic.twitter.com/Ek6CRsH3vx

— PlanB (@100trillionUSD) April 7, 2020

https://cointelegraph.com/news/bitcoin-futures-did-not-manipulate-btc-price-stock-to-flow-creator

https://cointelegraph.com/news/tim-draper-pandemic-could-be-the-tipping-point-for-bitcoin

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Bitcoin and crypto are poised to speed up globalization and the decentralization of industries, making them immune to questionable government economic policies, according to tech venture capitalist and BTC bull Tim Draper.

Back in 2018, the tech billionaire made a bold public call that the Bitcoin price would reach $250,000 by the end of 2022 or early 2023.

This year he doubled down on his bullish BTC prediction jokingly stating, “If Bitcoin does not hit $250,000 by early 2023, I’ll eat a raw egg.”

“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”

During the most recent LA Blockchain Summit, Draper speaks about how the massive global transformation ushered in by the Internet is making borders meaningless.

Now, Draper says Bitcoin is about to change everything from real estate to banking.

“When bitcoin came along, all of a sudden, we had a currency that we could use globally and one that we could have faith in even if a government for instance printed 13 trillion dollars, we could still have a currency that would not dilute. 

And that was the beginning of something that I think is going to be a major change in the world. And I think the world is going to go through an anthropological leap because we realize we used to be tribal, and that was sort of a way of being secure. We’d say, ‘Okay, this is the border, don’t cross this border and our people will be safe.’

Well now we realize that the borders are becoming more and more meaningless and the decentralized world becomes more important and it will be everything from banking to insurance to real estate to governance that are gonna change and become decentralized around the world and that’s gonna make us global, completely global.”

“Those barriers are bad for us. But they’re also really just kind of the roar of the dying lion as we move to this new world. And it’s very exciting. And then if you break down crypto, it starts with Bitcoin and it starts with a currency, and a blockchain, and a smart contract.

And then it moves to DeFi (decentralized finance), where all the things that are happening with dollars today now can start to happen with crypto. From there, I think you move to the e-commerce world where open node and others like it can bring it so that the merchants can tap Bitcoin.

I think that those are the three stages and once those stages are done and it’s easy to use and the world opens up, we are going to have a truly crypto, decentralized, open-world.”

In other trending Bitcoin News today:

Craziest Chart in Crypto Shows Billions of Dollars Set to Pour Into Bitcoin, Says Top Analyst

The highly-cited pseudonymous analyst, known in the industry as Filbfilb, says the $10.9 billion rise of Tether (USDT) in 2020 suggests traders are storing their capital in the dollar-pegged stablecoin as they prepare to buy BTC.

The analyst notes USDT expansion – which has been on the rise since the coronavirus-related market crash in March – has historically preceded Bitcoin price increases.

And Tether has expanded massively in the past month alone, he says.

“Since 30th August, USDT expansion has been $5 billion – that’s [a] 50% increase… FIFTY – that 50% is greater than the ENTIRE USDT cap that took BTC to $14k last time… AND price retracted since by c. 10%. I don’t subscribe to Tether conspiracies, but I do subscribe to supply and demand.

This has to be the craziest chart in crypto right now. The positive correlation of Tether expansion / BTC appreciation in 2019 was quite something. In 2020 Tether has expanded from $4.1 billion to $15 billion – FIFTEEN.

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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:

Today, @Square announced that it has purchased $50M in bitcoin. Square believes cryptocurrency is an instrument of economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose. For more, visit https://t.co/HPhSMfVgac.

— Square IR (@SquareIR) October 8, 2020

This has to be the craziest chart in crypto right now. The positive correlation of Tether expansion / BTC appreciation in 2019 was quite something.In 2020 Tether has expanded from $4.1bn to $15bn

– FIFTEEN. pic.twitter.com/PSI6ndlkTH

— f i l ₿ f i l ₿ (@filbfilb) October 5, 2020

https://cointelegraph.com/news/tim-draper-doubles-down-on-his-250k-btc-prediction

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Financial and investment advisory giant The Motley Fool has announced it will invest $5 million into Bitcoin (BTC) with the expectation that it will rise to $500,000.

Announced earlier today via a blog and Twitter post, the firm stated it won’t be “buying overpriced ETFs” but will be “buying Bitcoin directly.” Currently ranked fifth globally in the investing category, according to SimilarWeb, and with 87 million website visits per month, The Motley Fool outlined three core reasons behind the purchase: Bitcoin is a better store of value than gold, it’s an effective hedge against inflation and it has the potential to become a transactional asset.

The firm will be investing in Bitcoin through its 10X real-money portfolio as one of 40 assets that it predicts will provide a 1,000% return over the next 15 years. The firm has recommended the digital asset as a core holding to all its 10X members and has provided time for them to purchase BTC before The Motley Fool initiates its own purchase. It added that in the coming weeks the company “will also be separately buying $5 million in Bitcoin on our own balance sheet.”

Due to the long-term commitment, the announcement explains that volatility is of little concern.

“While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today’s levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years.”

Should the company’s prediction prove true, it will see Bitcoin passing $500,000 within the next 15 years. The Motley Fool says it has a solid track record with its investments.

The Motley Fool has so far named 10 of the 40 investment picks for the 10X portfolio, with the others being cloud computing company Appian Corporation, Swiss biotech firm CRISPR Therapeutics, cybersecurity firm CrowdStrike, e-commerce platform Etsy, genetic testing platform Fulgent, insurer Lemondate, social media platform Pinterest, mobile gaming platform Skillz and video communication firm Zoom. It is worth noting that many of these stocks have already been recommended in the firm’s other, more basic investment services.

The advisory firm has been aware of cryptocurrencies for years now, with a 2017 analysis suggesting that Bitcoin’s biggest competitor was not Ethereum but Litecoin.

In other trending Bitcoin News today:

‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level

Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000.

According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other.

Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February.

“The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch up and indicators to reset,” they wrote in a tweet on Feb. 17.

“Looks like $48k is the new $35k now.”

The buoyant perspective adds fuel to the bulls hoping that $50,000, a level Bitcoin took for the first time this week, will form a solid foundation without a major correction.

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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:

We’ve got BIG NEWS! We’re buying $5 million in Bitcoin on our own balance sheet.

That’s right. $5 million.

— The Motley Fool (@themotleyfool) February 17, 2021

I’m raising my short term #BTC price target from $65K to $77K based on growing supply-shock issues – as coins are removed from exchanges

My 2021 target of $220,000 remains pic.twitter.com/y1SKIYQW53

— Max Keiser (@maxkeiser) February 17, 2021

$250k by end of 2022. Just 5X from here. Looking a lot more likely than when I made the initial prediction three years ago, eh? #Bitcoin

— Tim Draper (@TimDraper) February 17, 2021

https://cointelegraph.com/news/motley-fool-adding-5m-in-bitcoin-to-its-10x-portfolio-has-a-500k-price-target

https://cointelegraph.com/news/ethereum-hits-new-all-time-high-near-2k-as-analyst-says-2021-bull-run-is-different

https://cointelegraph.com/news/insane-bitcoin-price-consolidation-means-48k-is-the-new-btc-support-level