BITCOIN WILL HIT $1 MILLION – HERE’S WHEN!! LARGEST LATIN AMERICAN ECOM PLATFORM BUYS $7.8M IN BTC!!

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The average value of Bitcoin transactions has increased dramatically since July this year. 

The average BTC transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.

The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours.

This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017.

The $151,000 average value is 190 times more than Ethereum’s average transaction value of $793, suggesting a significantly greater institutional presence in the Bitcoin markets.

However, the number of daily Ethereum transactions increased by 30% amid the DeFi boom in August, reaching a 2-year high of 1.29 million on Aug 10.

Over the same period, Bitcoin transactions consistently hovered between 300k and 350k, suggesting the Ethereum ecosystem was the primary magnet for new crypto users.

The number of Bitcoin active addresses also showed no significant changes, fluctuating between 650k and 970K over the last 4 months.

Accumulation figures show that institutional investors are starting to take notice as large investment firms, like Grayscale and Microstrategy, increased their accumulation of large amounts of Bitcoin and other cryptocurrencies over the last few months.

By the end of September, Grayscale controlled at least 449,900 BTC or 2.4% of the current supply of Bitcoin, and Microstrategy owned 38,250 BTC.

Two weeks later, Jack Dorsey’s Square purchased 4,709 BTC (approximately $50 million) in Bitcoin.

In other trending Bitcoin News today:

“PayPal To Offer Crypto Payments Starting In 2021”

PayPal announced on Wednesday its entry into the cryptocurrency market, according to multiple reports.

PayPal customers will be able to use cryptocurrencies to shop at any merchant in its large network starting from early 2021, the company said.

The payments will be settled through fiat currencies, similar to many existing crypto merchant solutions like BitPay.

This means that the merchants will be receiving fiat, as PayPal will take care of the conversion. 

The coins initially supported will include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the company said.

The payments giant partnered with Paxos to deliver the service, and it obtained a conditional cryptocurrency license from the New York State Department of Financial Services, commonly known as the BitLicense.

In addition to cryptocurrency payments, PayPal users will also be able to purchase crypto directly through the app.

PayPal will thus feature a cryptocurrency wallet, letting users buy, sell and hold crypto via the PayPal apps.

PayPal is one of the largest global payment providers, with 346 million active accounts and $222 billion in volume processed in Q2 2020.

It was one of the initial founding members of the Libra association, though it subsequently dropped out after regulatory pressure mounted for the project.

Rumors of a planned crypto integration surfaced earlier this year.

The company is nevertheless often criticized in crypto circles due to perceived unfair practices and the amount of control it has within its own network.

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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:

Finally!PayPal joins the bitcoin space race.+ 346 million users+ 26 million merchants + 20th largest “bank” by deposits

Between them, Square, and Grayscale, it’s safe to assume that all remaining BTC will be hoovered up by public companies. https://t.co/d3oEk0LLgv

— Ryan Selkis (@twobitidiot) October 21, 2020

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idUSL1N2HB14U

https://cointelegraph.com/news/bitcoin-average-transaction-value-increases-500-since-july

https://cointelegraph.com/news/paypal-to-offer-crypto-payments-starting-in-2021

https://cointelegraph.com/news/bitcoin-price-rally-to-12k-is-meaningless-until-bulls-flip-it-to-support

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

A popular crypto analyst says Bitcoin and Ethereum can pull off massive rallies before the end of 2021 as traders underestimate the second leg of the bull market.

Justin Bennett tells his 61,600 Twitter followers that he expects Bitcoin to launch a staggering rally, well above the six-figure level, should the leading cryptocurrency shatter its current all-time high of $65,000.

“Most are underestimating the level of FOMO (fear of missing out) that will occur above $65,000 $BTC.

Everyone thought the bull market was over. If it isn’t and Bitcoin reclaims $65,000, we’ll see a FOMO event like never before. In which case, $200,000+ through EOY (end of year) is very much on the table.”

In other trending Bitcoin News today: There’s No Stopping the Bitcoin Train After BTC Breaks This Price Level, Says Top Crypto Analyst!

Closely followed crypto trader Pentoshi says there will be no stopping Bitcoin after BTC breaks a certain price area.

The pseudonymous trader tells his 212,000 followers that the $48,000 level is the last point before Bitcoin becomes unstoppable.

“Above $48,000, I think there’s nothing stopping this train. It’s the last level structurally that can constitute a lower high on the macro.

$45,000-$48,000 is very strong resistance in my opinion due to the time we distributed above it. Likely see $40,600 again before any real [breakout].”

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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:

Smart govts will ‘start hoarding and mining bitcoin’ to the extent that…

https://cointelegraph.com/news/institutions-are-buying-bitcoin-like-it-s-late-2020

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“Bitcoin is conducting a 51% attack on the world’s fiat money supply. The price of BTC in fiat will go to infinity because none of the world’s worthless flag money will survive. None of it ever has over the past 300 years”, says RT host Max Keiser of the Keiser Report.

He continued in another tweet:

“The U.S. is just one of 195 countries in the world, all of which are vulnerable to a Bitcoin 51% attack on their fiat money. The nation state model has a good run, but it’s over. None will survive BTC. Secure your place in the new world with BTC.”

Wall Street veteran Max Keiser says he believes a supply shock will fuel Bitcoin’s rise to $1 million.

In a new interview with Express, the host of the Keiser Report says he’s convinced institutions will find ways to purchase Bitcoin directly from miners and effectively box retail investors out.

“The demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day.

This is why I think institutions that are buying bitcoin will do so directly from miners and the public won’t have a chance to buy any. The public will be shut out as the price rockets to $1 million per coin… Meanwhile, Generation Z who bought lots of Bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.”

Keiser points to the fact that high profile investors such as Paul Tudor Jones, Stanley Druckenmiller and Bill Miller are now bullish on BTC as a sign of what’s to come.

He also notes PayPal’s new support for Bitcoin as another game changer, citing recent estimates that the payments company is buying more than the daily supply of BTC.

Keiser says daily demand for Bitcoin from top trading platforms appears to be at least 2,600 BTC, while the amount of daily supply from mining is locked at 900 BTC.

In other trending Bitcoin News today:

Bitcoin Price Metric That Called 2020 Bull Runs Flashes ‘Buy’ Again

An “elegant” Bitcoin (BTC) metric that predicted its run to $12,000 in August has flashed bullish again for the first time since July.

As noted by creator Charles Edwards on Dec. 3, the Hash Ribbons indicator is now signaling for buyers to enter the Bitcoin market.

Uploading an annotated chart to social media, Edwards, who is also the founder of digital asset manager Capriole, noted similarities between Bitcoin now and before the previous bullish upticks throughout this year.

“Look what I found. A blue dot,” he commented, identifying the new entry point.

Hash ribbons are based on Bitcoin’s network hash rate behavior and designed to tell investors when price is due to experience upside.

In theory, when miners capitulate due to events such as a major price correction, hash rate declines, only to revive thanks to Bitcoin’s automated difficulty readjustments. Hash ribbons demonstrate that around midway through this miner capitulation is an optimal time to take positions.

As the saying goes, “Price follows hash rate” in Bitcoin, hash ribbons lend technical proof to the popular mantra.

Edwards’ “blue dot” occurs when the 30-day hash rate value crosses the 60-day value, indicating a recovery is underway.

“Hash Ribbon is setting up for a buy signal soon,” Rafael Schultze-Kraft, chief technical officer of on-chain analytics resource Glassnode, continued with a further chart.

“When hash rate recovers (30d MA crosses above 60d MA) and BTC price momentum is positive, Hash Ribbon has given excellent entry points.”

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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 is conducting a 51% attack on the world’s fiat money supply.

The price of BTC in fiat will go to infinity because none of the world’s worthless flag money will survive. None of it ever has over the past 300 years.

— Max Keiser (@maxkeiser) December 2, 2020

https://cointelegraph.com/news/bitcoin-price-metric-that-called-2020-bull-runs-flashes-buy-again

https://cryptopotato.com/bitcoin-price-to-hit-36000-in-2021-kraken-crypto-sentiment-survey/