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

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Popular Crypto researcher Lark Davis aka ‘The Crypto Lark’ thinks a number of decentralized finance (DeFi) projects that are not built on Ethereum have significant growth potential to outperform Bitcoin (BTC) as well as ETH in 2020.

He specifically highlights the upside of four little-known crypto assets that he believes could see big growth in the short term.

“I believe that DeFi outside of Ethereum is likely to be a big growth area in the coming months even if we still have great DeFi projects launching on Ethereum.”

Davis calls out Kava (KAVA), Band Protocol (BAND), Switcheo (SWTH) and Nash (NEX) as his top picks.

Kava is a cross-chain, DeFi lending platform.

Its token is trading at about $1.97 at the time of writing, and it has seen 4x gains since mid-May.

Despite its already-skyrocketing value, Davis says the token still has “massive potential for long-term price appreciation.”

“The team and the backers of Kava are very, very strong as well. In my opinion, this has all the makings to be as big as Ethereum’s MakerDao, which at its height had a market cap over $1 billion.” 

Band Protocol is a Cosmos blockchain native and cross-chain data oracle network that competes with Chainlink.

Its token is currently trading at about $2.42 at time of writing and has increased about 120% in price since the beginning of July.

Says Davis, “BAND already has a big, growing list of high-profile partners, people like Binance and Wanchain and Elrond and Fantom and Kava, of course.” 

SWTH and NEX are both decentralized exchange tokens.

Davis says they have upside potential because Switcheo is launching a new derivatives exchange and upgrading their token model, and Nash just launched a zero-fee fiat on-ramp for users in the European Union.

Davis does warn, however, that both are competing with tons of other decentralized exchanges, which could impact their growth.

In other trending Bitcoin News today:

Bitcoin Price Must Now ‘Reclaim $9,400 Quick’ to Stop Bears – Trader

Bitcoin (BTC) must reclaim $9,400 as soon as possible in order to change its bearish course, says Cointelegraph Markets analyst filbfilb.

In an update on social media on July 16, the popular trader warned that the situation facing Bitcoin was fast becoming make or break.

“BTC Bulls need to reclaim $9400 quick sharp,” he wrote in comments on a long-term price chart. 

Attention focused on BTC/USD being stuck in a compression cycle which has lasted for multiple weeks.

Compression refers to a pattern of higher lows and lower highs, with a trading corridor narrowing before a breakout.

For Bitcoin, the danger lies in a potential climax occurring in bearish territory as denoted by the Bollinger Bands volatility indicator.

Bollinger Bands consist of an upper and lower band surrounding a middle band and have historically captured both bullish and bearish moves by Bitcoin.

“Coming to the end of consolidation/compression now.. doing so below the middle of the bbands is not typically a good sign,” filbfilb continued. Should $9,400 reappear, he added, the outlook would be open to reinterpretation: “Reclaim that level and happy to reconsider bearish bias.”

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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:

https://cointelegraph.com/news/bitcoin-price-must-reclaim-9-400-quick-sharp-to-stop-bears-trader

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This might be the most important Bitcoin (BTC) news of 2020, says Mike Novogratz.

Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in Bitcoin for its general investment account.

According to a report from The Wall Street Journal, the company purchased the Bitcoins – purportedly 5,470 BTC given the current price of $18,279 — through New York-based fund management company NYDIG. 

MassMutual also reportedly bought a $5 million equity stake in the firm, which holds $2.3 billion in cryptocurrency.

MassMutual told Cointelegraph that the investment is part of a broad strategy, with the goal of achieving “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.” The company clarified that:

“Our $100 million investment in Bitcoin through NYDIG will represent .04 percent – or less than one tenth of one percent – of our total GIA.”

The purchase comes as major institutional players are adopting Bitcoin for the first time and going longer on crypto investments. In September, business intelligence firm 

MicroStrategy purchased more than $425 million in Bitcoin as a reserve asset. Earlier this week, the company announced it would invest the proceeds from a $400 million securities offering into Bitcoin as well.

MassMutual told Cointelegraph that the company oversees more than $235 billion in its general investment account as of Sept. 30.

In other trending Bitcoin News today:

‘Insanely bullish’: Glassnode CTO Predicts BTC Price Will Rise 10X From Here

The chief technical officer of crypto market data aggregator Glassnode, Rafael Schultze-Kraft, has described a slew of Bitcoin (BTC) market indicators as “insanely bullish,” and predicted prices are set to increase by more than 10 times.

On Dec. 9, Schulze-Kraft tweeted a thread providing the basis for his ultra-optimistic prediction, presenting six of “the most important on-chain market indicators that are currently hovering at the same levels they were at the start of 2017.”

Each of Schulze-Kraft’s predictions (or estimates) see Bitcoin breaking into six figures, with all but one suggesting that BTC will exceed $200,000.

For each of the indicators, Schultze-Kraft measured the gains produced when the metric moved from a similar position in 2017 until it posted an all-time high later that year. He then multiplied Bitcoin’s current price by the same percentage increase.

Schultze-Kraft noted that Bitcoin’s Net Unrealized Profit/Loss, or NUPL — “the difference between unrealized gains and losses based on when coins last moved on chain” — has climbed back up to 78% of its 2017 ATH.

Bitcoin’s price gained 1,400% to its peak, as NUPL ascended from its current level to all-time highs in 201. If the same scenario played out, Kraft estimates that Bitcoin’s price could reach $286,000 this cycle.

BTC’s Market Cap to Thermocap ratio — which assesses Bitcoin’s price premium relative to miner expenditure — is currently sitting at just one-quarter of its 2017 high. In 2017, Bitcoin’s price gained 625% as the metric rose to its all-time highs, suggesting BTC could tag $138,000 in future.

Bitcoin’s MVRV Z-Score — which seeks to identify when Bitcoin is “over/undervalued relative to its “fair value’” — currently sits at 34% of its 2017 top, the ascent to which accompanied a 1,150% price gain. Should BTC rally with the same strength as in 2017, Kraft-Schulze estimates Bitcoin will be worth $240,000 each.

Kraft-Shulze identified that metrics looking at longer-term hodler behavior suggested even higher price targets.

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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:

1/ Where are we in the #Bitcoin market cycle?A look at some of the most important on-chain market indicators.

TLDR: Insanely bullish, most metrics are far from the top. If things develop anything like 2017, we could see more than 10x $BTC from here.

A THREAD 👇 pic.twitter.com/d1jU0h5fxA

— Rafael Schultze-Kraft (@n3ocortex) December 8, 2020

https://cointelegraph.com/news/new-institutional-player-massmutual-purchases-100m-bitcoin

https://cointelegraph.com/news/insanely-bullish-glassnode-cto-predicts-btc-price-will-10x-from-here

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There is nothing stopping Bitcoin from attempting to become a six-figure asset, the Magnetic managing director William E. Quigley professed in an interview with CNN Business.

The New York-based senior executive listed a string of reasons behind his bullishness on Bitcoin, the world’s leading decentralized cryptocurrency whose rates surged from as low as $3,858 just shy of $58,500 in the previous 12 months. 

They included Bitcoin’s scarcity and growing demand among mainstream corporate houses that look for alternative store-of-value assets for their balance sheets.

A pre-embedded algorithm within the Bitcoin blockchain’s source code reduces its supply rate by half every four years or after every 210,000 block—an event known as “halving.” Meanwhile, there can only be 21 million BTC tokens in existence, making the cryptocurrency scarce, making it more valuable in the long-term if the demand for it rises.

Bitcoin has had three halvings in the past. The November 2012 and June 2016 supply cuts saw the BTC/USD rates jumping from about $12 to nearly $1,150 and $650 to almost $20,000.

Meanwhile, the third halving—that took place in May 2020—has followed up with up to 558 percent rise so far. It prompted Mr. Quigley to see a bullish fractal.

“We are about halfway through the post-halving bull run,” the executive noted. “So, by my judgment, we have a lot more to go with Bitcoin. Certainly a hundred thousand and quite possible a $150,000 by the end of this year to maybe Q1 next year.”

BITCOIN DEMAND GROWS

That explains why even corporates have started embracing the flagship cryptocurrency as an alternative to cash. Tesla, the world’s leading electric carmaker, revealed in February that it added $1.5 billion worth of bitcoin in its balance sheet, noting that it would also start accepting the cryptocurrency for its services and products.

MasterCard, a credit card giant, announced that it would integrate crypto tools into its services in the same month. Bank of New York Mellon, the US’s first banking firm, joined the ranks by announcing that it would offer bitcoin custodianship via the same platform that its clients use for traditional securities and cash.

“The latest survey I saw showed that 5 percent of the public-traded companies in the US would consider adding Bitcoin to their balance sheets,” said Mr. Quigley. “And the reason they are thinking that is that corporates have trillions of dollars in cash—and where do they put it? There are government bonds but $17 trillion of them yield negative returns.”

In other trending Bitcoin News today:

Experts Divided on BTC Predictions: Bullish or Super Bullish?

Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.

On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.

“Grayscale Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is.”

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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 is the two year anniversary of my #Bitcoin Halving Reward Era Price analysis chart.It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin.

I still trust it.$BTC will hit $200K+ this cycle. pic.twitter.com/jwUcOpHeXC

— K A L E O (@CryptoKaleo) February 13, 2021

Bitcoin is more likely to hit $1,000,000 than $0.

— Dan Held (@danheld) March 4, 2021

https://bitcoinist.com/top-new-york-executive-sees-bitcoin-price-at-150000-by-q1-2022/

https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish