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

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Raoul Pal thinks Federal Reserve policies could lead Bitcoin (BTC) to 100x gains.

On Thursday, Fed Chairman Jerome Powell said that the U.S. central bank would prioritize keeping unemployment low over reigning in inflation.

Pal, the former head of European hedge fund sales for Goldman Sachs, says that the shift in monetary policy is lending major upside to gold and, to an even greater degree, Bitcoin.

“Powell has shown that there is ZERO tolerance for deflation so they will do ANYTHING to stop it, and that is good for the two hardest assets – gold and Bitcoin.

Powell WANTS inflation. I don’t think he gets true demand push inflation, but he will get fiat devaluation, in conjunction with the other central banks all on the same mission. Overall, I think Bitcoin outperforms gold. Gold can go up 2x or 3x or even 5x while Bitcoin can go up 50x or even 100x.”

The top cryptocurrency is currently trading at $11,496 so a 50x gain would mean a value of $574,800 per BTC, and a 100x gain would be a $1,149,600 Bitcoin price.

In the short term, Pal says both gold and BTC could drop further, and he’s loading up on Bitcoin and Ethereum amid the market downturn.

“Gold has maybe 25% downside and Bitcoin 50%, so risk-adjusted BTC kills it. However, I own both but a LOT more BTC (and some ETH). Over time, all will rise again. I’m buying more BTC and ETH as the price falls and my gold is in a vault not to be touched.”

Meanwhile, Pal says Ethereum (ETH) offers a unique use case.

“[Ethereum is] not a reserve asset but a call option on a future platform for finance and trusted ownership via smart contracts.”

In other trending Bitcoin News today:

Yearn.finance (YFI) Jumps to $25,000 Eclipsing Bitcoin’s All-Time High Price of $20k

Yearn.finance (YFI), one of the hottest crypto assets in the Ethereum decentralized finance space, has seen an extreme price performance in the past day.

The asset has gained approximately 30% in the past 24 hours. This is an outperformance of Bitcoin’s 1% gain and Ethereum’s 1.7% move higher.

YFI is currently trading above $25,000 at this time.

What’s especially notable about the rally in YFI is that it was launched just a month ago. Further, at the launch, creator Andre Cronje asserted that the cryptocurrency literally has “zero value.”

The crucial trend behind YFI’s ongoing move to the upside is it getting listed on another leading DeFi platform, Aave.

Aave is a money-market protocol that allows users to lend and borrow cryptocurrencies based on Ethereum. Aave announced the listing on August 28th.

This listing should provide YFI with some positive price pressure as that means holders can now earn further yields on their YFI.

YFI is also benefiting from the launch of Curve’s Curve DAO token (CRV).

The token is being used by Yearn.finance as a medium through which yield can be obtained on deposits of stablecoins like USD Coin and Tether.

These yields have become so attractive to investors that hundreds of millions have been siphoned into the Yearn.finance protocol.

This increase in deposits has led to an increase in the value of YFI, which is a proxy for the value of the Yearn.finance ecosystem.

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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:

I don’t think he gets true demand push inflation but he will get fiat devaluation, in conjunction with the other central banks all on the same mission.

Overall, I think #Bitcoin outperforms gold. Gold can go up 2x or 3x or even 5x while bitcoin can go up 50x or even 100x.

— Raoul Pal (@RaoulGMI) August 28, 2020

Prepare to be patient in #Bitcoin. Each up cycle takes longer to play out and is less extreme as absolute dollar value gets much larger.May or may not be another 6-12 months before price breaks up. Should not matter as end price point obscenely higher.

Hodlers rejoice. pic.twitter.com/IH7izyxXvm

— Dan Tapiero (@DTAPCAP) August 28, 2020

Yearn.finance (YFI) Jumps 30% Towards Bitcoin’s All-Time High Price of $20k

https://dailyhodl.com/2020/08/28/real-vision-ceo-says-bitcoin-price-targeting-1150000-after-shift-in-federal-reserve-policy-with-ethereum-a-call-option/

https://cointelegraph.com/news/history-shows-bitcoin-price-may-take-3-12-months-to-finally-break-20k

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Bitcoin bull Anthony Pompliano shares his thoughts on the future of XRP, Ripple, and Bitcoin in his latest interview with Ripple CEO Brad Garlinghouse.

At the end of this exclusive 90-minute interview, Anthony Pompliano says he thinks there are a couple of likely outcomes for the future of Fintech.

For starters, Pompliano says Ripple’s mission to help banks become more efficient makes a lot of sense.

“I think I’m actually on the podcast, on the record, saying it’s important to separate out the software company from XRP. I actually think that having software that makes banks run better – there’s a big business to be built there. We’ve actually invested in a bunch of businesses that are trying to disrupt software that is currently in banks or helping banks be more efficient. That all makes a lot of sense to me.”

Are Altcoins ready to explode?!

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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.

News Resources From Today’s Show:

Bitcoin Bull Anthony Pompliano Reveals New Outlook on Ripple and XRP

https://www.stitcher.com/podcast/blockworks-group/off-the-chain/e/64470239

https://www.ccn.com/bitcoin-bull-anthony-pompliano-roasted-twitter/

Bitcoin continues marching forward.Block after block after block.Completely immune to the manipulation of economies or political instability of nations.Bitcoin is doing exactly what it was designed to do.

What a beautiful thing to witness.

— Pomp 🌪 (@APompliano) October 9, 2019

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Bitcoin pioneer Max Keiser says, “BTC will reach $100,000 and destroy anyone who gets in its way.

In a recent tweet who told his 230,000 followers:

“$28,000 is in play before we see a pullback – and then we’re heading to 6-figures”

Here are some more Max Keiser Bitcoin price predictions:

“All of these projects will be eviscerated,” Max says, adding “Now, bitcoin is going to make its move.” 

He explains that bitcoin has been playing cat and mouse with these other projects to see who’s right and who’s wrong.

“It’s going to go up to $100,000 per coin but it’s going to destroy everyone who gets in its way. So, all these altcoin posers and government subsidy-welfare bums will be eviscerated by the one true bitcoin. It’s about time…” says Max.

We also have full-time futures trader Adam Mancini taking note of Bitcoin’s latest exploits.

He predicts that BTC will print a new all-time high of $24,000 in only six months.

Mancini tells his nearly 60,000 Twitter followers that the crypto king is poised to end its three-year-long consolidation and follow gold’s lead.

“Bitcoin BTCUSD is setting up for a move – likely to follow in GOLD‘s footsteps. We’re coiling into a multi-year triangle, and these don’t resolve with small moves. Given the trend entering this pattern was up, this should resolve the same way with 15k then 24k targets.”

Mancini’s forecast comes as Bitcoin breaks psychological resistance at $10,000, reaching $10,824 at time of publishing according to CoinMarketCap. 

While the top cryptocurrency has struggled to take out that level throughout the year, Glassnode suggests that BTC’s latest trip above five figures may be different.

The crypto analytics platform says its coin days destroyed metric, which looks at the value of each Bitcoin transaction while giving weight to the number of days since the coins were last moved, remained flat as BTC rallied above $10,000 over the weekend, indicating that HODLers are not taking the opportunity to sell their crypto.

“In contrast to the last two times BTC hit $10,000 USD, we haven’t seen an increase in Bitcoin Days Destroyed today.”

In other trending Bitcoin News today:

Top Analyst Tone Vays Says Rapid Bitcoin (BTC) Rise to New All-Time Highs Likely If Crypto King Overcomes One Final Hurdle

Veteran crypto strategist Tone Vays says Bitcoin may be en route to printing a new all-time high, after its sudden rise above $11,000.

But first, it must flash one more bullish technical signal.

The analyst says Bitcoin’s rising market dominance suggests the crypto king is poised to launch a sustained uptrend, which is different from the parabolic rally that ended quickly in 2019.

“So as long as this trend continues, I will be very bullish on Bitcoin. I think Bitcoin will have a pullback back to $10,000. After that, it can take off to a new all-time high quickly, just like gold. I’m still bullish on Bitcoin very much. I’m not touching my HODL position.  I was selling my HODL position in 2019 to pre-pay bills because I did not trust that rally to $14,000.

I trust this rally to go way higher. I’m way more bullish now than I was in early 2019.” In order for Bitcoin bulls to dominate the market, Vays says must hold above a crucial line at $10,000.

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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 $BTCUSD is setting up for a move – likely to follow in $GOLD‘s footsteps. We’re coiling into a multi-year triangle, and these don’t resolve with small moves. Given the trend entering this pattern was up, this should resolve the same way with 15k then 24k targets pic.twitter.com/9rRFm75PPp

— Adam Mancini (@AdamMancini4) July 26, 2020

https://www.rt.com/business/494236-bitcoin-will-destroy-everyone/