BITCOIN WILL HIT $100K – HERE’S WHEN, ACCORDING TO TOP CRYPTO EXPERTS!! BTC SHEDS DUMB MONEY!!

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Pantera: Bitcoin in Early Stages of Large Bull Market Fueled by Powerful Macro Tide – Here’s How High THE BTC PRICE Could Go This Cycle

Executives at the crypto-focused venture firm Pantera Capital think future inflation will drive up the prices of Bitcoin and other crypto assets.

In a new market report, Dan Morehead, Pantera’s CEO and co-chief investment officer, and Joey Krug, the firm’s other co-chief investment officer, highlight the Federal Reserve’s new policy of allowing inflation to support the labor market, which they say is going to kick off a new bull run for digital assets.

“Assets such as gold which have not been impaired by the pandemic are rising even faster. Gold is at a 5,000-year high. Or, said another way, paper money is at an all-time low. However, the best performing assets are ones which have both fixed-supply and improved usage/fundamentals – like cryptocurrency.

Cryptocurrency has out-performed most/all other asset classes this year. We strongly believe we are in the early stages of a large bull market fueled by both a powerful global macro tide and growing fundamentals in the underlying technology.”

Morehead has placed his BTC price target at $115,000, which he thinks will likely happen by next summer.

Despite their confidence, however, they still warn that Bitcoin is volatile and risky, and remains a “massive hype cycle roller coaster.”

In terms of their own investments, Pantera recently sunk money into YFI and Terra (LUNA), according to the executives.

YFI is a two-month-old governance token for the decentralized finance (DeFi) protocol yearn.finance.

The asset has been largely immune to the September slump that plagued other cryptocurrencies and is trading at almost $40,000 at time of writing, according to CoinMarketCap.

Terra is a network of stablecoins pegged to some of the world’s major currencies. LUNA, Terra’s native staking asset, can be traded or staked to earn rewards in the network generated from transaction fees.

It is trading around $0.32 at time of writing.

In other tending Bitcoin News today:

Nasdaq-Listed Microstrategy Raises Bitcoin Holdings to $425 Million After Second Purchase

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”

This follows an update the company provided the SEC about its bitcoin investment plan.

In the filing dated Sept. 11, the Nasdaq-listed company revealed that its board of directors has adopted a new Treasury Reserve Policy “that updated the company’s treasury management and capital allocation strategies.”

Under this new policy, the company’s treasury reserve will consist of two types of assets.

The first type comprises “cash, cash equivalents, and short-term investments … held by the company that exceed working capital needs.”

The second type consists of “bitcoin held by the company, with bitcoin serving as the primary treasury reserve asset on an ongoing basis, subject to market conditions and anticipated needs of the business for cash assets, including future potential share repurchase activity.”

Microstrategy clarified:

“As a result of this new policy, the company’s holdings of bitcoin may increase beyond the $250 million investment.”

Michael Saylor, Microstrategy’s CEO, has not always been pro-bitcoin.

He tweeted back in 2013: “Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.”

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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:

On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.

— Michael Saylor (@michael_saylor) September 15, 2020

Apparently there is some kind of bitcoin buying race between MicroStrategy and @Grayscale

Game on

— Barry Silbert (@barrysilbert) September 15, 2020

MicroStrategy is adopting a #bitcoin standard. Other companies will follow. Finally, central banks will follow (Switzerland likely to be the first.) A new gold standard for the digital age. A neutral store-of-value will create more check and balances for governments.

— Datavetaren (@Datavetaren) September 16, 2020

https://news.bitcoin.com/nasdaq-microstrategy-bitcoin-425-million/

https://cointelegraph.com/news/other-companies-will-follow-mstr-stock-up-9-after-buying-bitcoin

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

Bitcoin price predictions have been a hot topic for a while now. Bloomberg Analyst, Mike McGlone believes that the BTC price hitting $100,000 is tied to the asset following Ethereum. This came in the monthly cryptocurrency newsletter sent out by Bloomberg Crypto Outlook.

In the newsletter, McGlone highlights the potential for Bitcoin. Stating that the $100,000 mark is still pretty tame for the flagship cryptocurrency. “Based on its history, a bottom line for BTC in 2021 is that the price advance to May 24 is a round error,” McGlone said. “The 2020 halving came amid unprecedented global fiscal and monetary stimulus, along with institutions tilting toward Bitcoin allocations.”

In other trending Bitcoin News today: Analyst Who Accurately Predicted Bitcoin’s 50% Fall Updates Crypto Forecast!

Chief investment officer and founder of Guggenheim Partners Scott Minerd, who notably called Bitcoin’s 50% collapse, suggests that the Bitcoin correction might not be over.

“But when we look at the history of crypto, and we look at where we are, I mean, I really do believe this is probably a crash. And, you know, a crash would mean we would be down 70% to 80%, which, let’s just say, that’s between $10,000 and $15,000.”

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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:

Bloomberg Analyst Provides Blueprint Of Bitcoin Path To $100,000

Analyst Who Accurately Predicted Bitcoin’s 50% Fall Updates Crypto Forecast

https://cointelegraph.com/news/bitcoin-metric-sees-hell-of-a-bounce-in-move-which-historically-heralds-btc-price-bottom

https://cointelegraph.com/news/analysts-say-bitcoin-s-choppy-price-action-is-typical-of-low-liquidity-markets

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One fractal analysis, predicts that Bitcoin price ongoing consolidation will resolve to the upside in an explosive fashion.

The catch: the BTC breakout will come at the end of 2020 – over five months away.

On March 12th and 13th, the Bitcoin market broke down. As many investors likely remember, in the span of approximately 24 hours, the cryptocurrency market fell by around 50%.

Bitcoin then plunged from the $7,000s to $3,700. Few expected the market to recover at the time.

There were some, however, trying their best to stay optimistic.

The CIO of Altana Digital Currency Fund, Alistair Milne, shared the chart below in the day after the crash, attaching the comment:

“So, if you take the fractal after the Aug 2015 meltdown due to exchange dysfunction (and major trendline break) … and place it on the end of Friday’s meltdown, you get this …”

The chart, which showed Bitcoin could follow the path it took after 2015’s crash, implied that BTC would recover to $10,000 by June.

And that it did, with Bitcoin spiking above $10,000 at the start of June.

This same fractal now predicts that after two more months of consolidation, Bitcoin will hit $18,000 by the end of 2020.

As Milne explained in a recent update about the fractal:

“Would you accept another ~2 months of no volatility if it meant we go directly to $18k within 4 weeks of a breakout?”

Milne isn’t the first individual to have suggested that Bitcoin’s ongoing consolidation will resolve higher.

Mike McGlone – the senior commodity analyst at Bloomberg Intelligence — recently wrote the following on Twitter:

“Volatility should continue declining as Bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset, yet we expect recent compression to be resolved via higher prices.”

So, if you take the fractal after the Aug 2015 meltdown due to exchange dysfunction (and major trendline break) … and place it on the end of Friday’s meltdown, you get this …

The sentiment McGlone shared is in line with the sentiment he shared in previous analyses. In editions of Bloomberg’s “Crypto Outlook” released over recent months, the Wall Street analyst has outlined a perfect storm of reasons indicating that Bitcoin will move higher.

Some of those reasons are as follows:

* The BTC block reward halving that came in May

* The increasing investment in the Bitcoin market by users of the CME and clients of Grayscale

* Bitcoin’s growing correlation with the gold market

* And more.

In other trending Bitcoin News today:

HOW CAN YOU NOT BE BULLISH ON BITCOIN? ANALYST ASKS DUE TO NEW DATA

Despite volatile price action, a majority of Bitcoin in circulation remains inactive. 

According to data from Glassnode, a blockchain analytics firm, the percentage of coins not moved has reached 62% — an all-time high.

This comes in spite of the fact that 77% of the Bitcoin supply was accumulated at a price lower than current.

That’s to say, 77% of all BTC can currently be sold for profit. To Rafael Schultze-Kraft, the CTO of Glassnode, the confluence of high profitability amongst investors and increasing levels of holding is bullish.

“BTC supply not moved in over a year: 62%. BTC supply in a state of profit: 77%. Read: Many investors could be profitably cashing out, but instead choose to hodl. How can you not be bullish on Bitcoin.”

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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:

How Can You Not Be Bullish on Bitcoin? Analyst Asks Due to New Data

#Bitcoin Blahs? Benchmark #Crypto Looked Similar Before Past Gains —
Volatility should continue declining as Bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset, yet we expect recent compression to be resolved via higher prices. pic.twitter.com/XbIMv5AYAf

— Mike McGlone (@mikemcglone11) July 2, 2020

Would you accept another ~2 months of no volatility if it meant we go directly to $18k within 4 weeks of a breakout?

Check what happened in early 2016… https://t.co/BH18zB9eOb

— Alistair Milne (@alistairmilne) July 14, 2020

This 2016 Bear Market Fractal Shows Bitcoin Could Shoot Towards $20k in 2020

https://cryptopotato.com/bullish-bitcoin-price-post-halving-patterns-start-repeating/