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

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The increasing institutional interest in Bitcoin is “not hard to see” as U.S. regulators green light custody this week.

The BTC price will pass $20,000 if United States banks invest even 1% of their assets, one analyst believes.

Discussing institutional uptake of Bitcoin on July 23, Capriole digital asset manager Charles Edwards said that it was “not hard to see” the unfolding trend.

“If US banks put just 1% of their assets into Bitcoin as an investment, hedge or insurance… the Bitcoin price more than doubles,” he wrote on Twitter, adding:

“Just 1 NASDAQ stock (Grayscale) already owns 2% of circulating Bitcoin supply today. It’s not hard to see where this is going.”

Edwards uploaded a chart of U.S. banks’ burgeoning asset balances as proof of the potential impact that a lean towards BTC would have on the largest cryptocurrency.

Grayscale, as Cointelegraph reported, is now a giant among Bitcoin hodlers, together with payment company Square responsible for buying up the majority of mined coins this year.

Edwards’ comments are meanwhile timely.

This week, U.S. lenders received the green light from regulators to engage in cryptocurrency custody activities.

Whether an influx from the sector would ultimately benefit Bitcoin as an asset remains a contentious topic.

Previously, concerns circulated that institutional attention in the form of products such as a Bitcoin exchange-traded fund (ETF) would be detrimental to price discovery.

“It’s not a matter of good or bad, it’s just a fact,” Edwards added.

Nonetheless, other recent moves only serve to reinforce the market’s upward trajectory.

Paul Tudor Jones, the maverick investor who has become increasingly bullish on Bitcoin, recently revealed that he had already put as much as 2% of his wealth in BTC.

In other trending Bitcoin News today:

Payments Giant Visa Reveals Roadmap to Supporting Bitcoin (BTC) and Cryptocurrency

Visa is laying out its plan to support Bitcoin (BTC) and the cryptocurrency space at large.

In a new blog post, the payments giant says it recognizes the role of digital assets in the future of money. 

“The concept of digital currency — or a digital version of cash controlled by a private key — was created more than a decade ago, with the launch of Bitcoin. Today, fiat-backed digital currencies, commonly referred to as “stablecoins,” have emerged as a promising new payment innovation, combining the benefits of digital currencies with the stability of existing currencies like the US dollar.”

Visa is already active in the cryptocurrency space, working with crypto platforms Coinbase and Fold.

The company says it plans to extend its services to digital currency wallets through its FastTrack program, allowing fintechs to integrate with Visa’s global network of 61 million merchants.

And in other trending BTC news today:

Top Analyst Bullish on Ethereum and Five Altcoins, Says Bitcoin Won’t Lead Surge in Crypto Market Cap

Crypto trader and analyst Michaël van de Poppe is bullish on Ethereum and a slew of altcoins.

Van de Poppe says ETH, rather than Bitcoin, will lead the way for a breakout in total crypto market cap.

The analyst believes Ethereum is “ready for $500” after recently pushing through the $250 price barrier.

Van de Poppe is also bullish on Chainlink (LINK), Elrond (ERD), TomoChain (TOMO), Perlin (PERL), and LTO Network (LTO).

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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:

$BTCClose above that red line today ($9300) and I might reconsider my short term bearish bias (mid-term bear bias remains).

Close below and I’ll consider shorting more aggressively targeting the green line ($8500) first and green area second (~$7000) pic.twitter.com/ql3cOXKKdQ

— DonAlt (@CryptoDonAlt) July 22, 2020

If US banks put just 1% of their assets into #Bitcoin as an investment, hedge or insurance…… the Bitcoin price more than doubles.Just 1 NASDAQ stock (Grayscale) already owns 2% of circulating Bitcoin supply today.

It’s not hard to see where this is going. pic.twitter.com/i3oqPTcAPl

— Charles Edwards (@caprioleio) July 23, 2020

The total market cap of crypto will break out (most likely) upwards.

That’s not going to be through $BTC.

That’s going to be through $ETH.

As $ETH is very undervalued.

— Crypto Michaël (@CryptoMichNL) July 22, 2020

Why Regulators Allowing US Banks to Hold Bitcoin Is So Positive for Crypto

https://cointelegraph.com/news/bitcoin-price-can-hit-20k-when-us-banks-invest-1-of-assets-analyst

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Su Zhu, the co-founder and CEO of fund management firm Three Arrows Capital, is revealing an astronomical Bitcoin price prediction of $2.5 million per BTC.

In a new interview with UpOnly, Su Zhu compares Bitcoin to gold, asserting that gold is likely undervalued and that in the long run, Bitcoin is primed to take over a large portion of the precious metal’s market share.

“I mean, I think there’s an argument that gold itself is very undervalued. If it was the dominant store of value cause this thing was at like $1,700 years ago… and let’s say gold should have 5X’d if there wasn’t Bitcoin, then really we’re looking at a $50 trillion market cap.

So then you’re already halfway there to $100 trillion and that will get you to $2.5 million per BTC and I think that that is definitely possible.”

The CEO says he expects BTC to jump up in sudden price surges along the way and, due in part to institutional investors, simply refuse to return back down to previous levels.

Eventually, says Zhu, the asset will likely look like gold does now – relatively stable.

“I think that at the top of it, it will behave like how gold is now, so low volatility-ish. And I think the way that people should think about how that process will go is that it will be [in] bursts, right. Where the markets look linear in like the short term – it’s always up $1,000, down $1,000 and then you get these bursts. And you get these big repricings and people can never buy again [at the same price].”

As for what Zhu believes will come of the meme crypto asset Dogecoin (DOGE), a project that has caught the eye of Tesla CEO Elon Musk, the Three Arrows co-founder says that it could have a significant amount of upward potential with Musk’s support.

“Elon [Musk is] shilling DOGE a lot and he must have a plan for it. So it’s tough to say. It can go up high.”

In other trending Bitcoin News today:

FRACTAL FROM LAST BULL RUN SAYS BITCOIN WILL HIT $100K BY MAY

Here’s a look at the similarities between the two cycles, and the roadmap that takes the price per BTC to $100,000 and higher within the next couple of months.

Bitcoin volatility is picking up, starting with an explosive move from $10,000 to $50,000 in a few short months. The complete repricing of the coin has been due to institutional investors scrambling to buy what they can of the scarce crypto asset.

At only 21 million coins and a market cap of under $1 trillion, Bitcoin is expected to grow in the long-term reliably. And in an economic climate where growth is challenging to come by, the cryptocurrency has become especially attractive.

But as Bitcoin price discovery takes place, volatility is bound to ensue and is has in recent weeks as the cryptocurrency recently shed 20% in a single day. At prices of $50,000 per coin, a 20% dive means $10,000 in value apiece evaporating into thin air, compared to the $1,000 per plunge crashes during the last bull market.

If the same path is followed, Bitcoin could see further collapse before experiencing a sharp rebound to more than double the price. The price action will play out quickly, taking Bitcoin price first to $75,000 in April, then $100,000 by the time May rolls around.

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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:

Previous macro tops have occurred when thousands of transactions worth 5 to 7 million dollars each were flooding the blockchain. True FOMO. Currently, no such FOMO in sight for $BTC. pic.twitter.com/s9Cbgn4n8Q

— whalemap (@whale_map) February 25, 2021

#Bitcoin doesn’t look too great for a bull continuation coming period.Still, retest at $54,000-55,000 could happen, but I’m cautious when we get there. If we lose $47,000, then I’m looking at $42,000-44,000 and $37,000-38,500 next.

That should be the low.

— Michaël van de Poppe (@CryptoMichNL) February 25, 2021

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

https://cointelegraph.com/news/bitcoin-price-macro-top-not-so-fast-data-shows-the-real-fomo-isn-t-even-here

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Bitcoin advocate, The Moon Carl who has 146,000+ YouTube subscribers, told his 70,000+ Twitter followers that he predicts the BTC price to hit $50,000 by May, 2021. 

This virtually means he expects the Bitcoin price to grow 250% in the next 5 months. 

Stock-to-flow model predicts a $100,000 BTC by December of 2021 so The Moon Carls bullish Bitcoin prediction is right in alignment with this popular model. 

In other breaking Bitcoin News today:

JPMorgan Says Gold Will Suffer for Years Because of Bitcoin

The rise of cryptocurrencies in mainstream finance is coming at the expense of gold, says JPMorgan Chase & Co.

Money has poured into Bitcoin funds and out of gold since October, a trend that’s only going to continue in the long run as more institutional investors take a position in cryptocurrencies, according to the bank’s quantitative strategists including Nikolaos Panigirtzoglou.

JPMorgan is one of the few Wall Street banks that’s predicting a major shift in gold and crypto markets as digital currencies become increasingly popular as an asset class. The trend poses a problem for bulls in precious metals markets over the coming years if investors move, even a small slice, of their allocations away from gold and into crypto.

“The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” wrote the JPMorgan strategists.

The Grayscale Bitcoin Trust, a listed security popular with institutions, has seen inflows of almost $2 billion since October, compared with outflows of $7 billion for exchange-traded funds backed by gold, according to JPMorgan.

JPMorgan’s calculations suggest Bitcoin only accounts for 0.18% of family office assets, compared with 3.3% for gold ETFs. Tilting the needle from gold to bitcoin would represent the transfer of billions in cash.

One way to play the theme is buying one unit of Grayscale and selling three units of the SPDR Gold Trust, the bank said.

“If this medium to longer term thesis proves right, the price of gold would suffer from a structural flow headwind over the coming years,” wrote JPMorgan’s strategists.

In other tending Bitcoin news:

MicroStrategy CEO Increases Convertible Senior Notes Offering to $635M to Buy More Bitcoin

Michael Saylor just doesn’t give a f—. As we reported, the company’s share dived 17% after Citi released its bearish report on MicroStrategy, where the analyst questions Saylor’s focus on Bitcoin.

While Citi analysts called Bitcoins’ rally “overextended,” it has been the Bitcoin investment that helped the company shares rise to a level not seen since 2000. In 2020, BTC has rallied more than 150% on top of 2019’s 90% gains.

MicroStrategy CEO announced today the pricing of the offerings of the convertible senior notes.

As per the official announcement, the offering amount has been bumped up to $550 million from the previous $400 million as shared in Monday’s announcement. The official announcement reads,

“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $537.2 million (or approximately $634.9 million if the initial purchasers exercise in full their option to purchase additional notes).”

But of course, the most interesting part of it all is that the company intends to invest the net proceeds from the sale of notes in Bitcoin per its Treasury Reserve Policy. Bitcoin advocate Max Keiser said,

“Michael_saylor⁩ /⁦MicroStrategy⁩ is making a speculative attack on the Fed/USD like Soros/Druckenmiller did against the BoE/GBP in 1992, ejecting it from the ERM.”

“Saylor has pulled the pin and tossed a grenade into the Fed’s boardroom.”

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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:

Citi: “You’re crazy with this Bitcoin thing. You’re downgraded!” 👉🏻😵

MicroStrategy: “We have *so* much investor interest we’re upping our offering from $400M to $550M. Oh, and investors can buy another $100M on top of that if they want.”

— Ellie Frost (@BlockBytch_) December 9, 2020

https://bitcoinexchangeguide.com/microstrategy-ceo-increases-convertible-senior-notes-offering-to-635m-to-buy-more-bitcoin/

https://www.bloomberg.com/news/articles/2020-12-09/jpmorgan-says-gold-will-suffer-for-years-because-of-bitcoin

https://cointelegraph.com/news/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run