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The co-founder and CEO of blockchain platform Celsius Network says that Bitcoin could hit a new record high this year if one condition is fulfilled.
Alex Mashinsky says that he still believes Bitcoin could hit a price of at least $140,000 over the coming months despite the flagship cryptocurrency momentarily crashing from nearly $53,000 to below $43,000 earlier this week.
âI am still holding my projections that we will be hitting the $140,000 to $160,000 levels. It might take us into Q1 [first quarter] of next year because of this kind of flash crash and clean-up we have seen with the Chinese miners. But itâs definitely going higher.â
In other trending Bitcoin News today: EL Salvadorâs Historical Adoption Could Send Bitcoin Past $100,000!
One of the most important events in the history of bitcoin has taken place, with a nation making bitcoin legal tender.
Head of Standard Charteredâs new bitcoin and crypto research unit, Geoffrey Kendrick, told clients in a note on Tuesday:Â
âAs a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless worldâ and âcyclically, we expect a peak around $100,000 in late 2021 or early 2022.âÂ
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BLOOMBERG: BITCOIN COULD HIT 0,000 OR DROP TO ZERO!! BTC CAN SURPASS #post_titleM IN THE NEXT 3-5 YEARS!!
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Bitcoin has the potential to surpass $1 million in the next three to five years, says Raoul Pal, calling BTC the âbiggest trade of our lifetimes.â
In Septemberâs crypto outlook newsletter, Bloombergâs analyst Mike McGlone observed that the Bitcoin price could either be heading to the $500,000 mark, or it could fail.
McGlone has continued to reiterate that in his view, Bitcoin is set to become digital gold.
He emphasized once again how Bitcoinâs limited supply and increasing demand were key adoption indicators, and drew comparisons to the 2017 bull run:
âMuch of the broad crypto-asset market echoes 2017âs excesses, but the foundation is firming due to expanding decentralized exchanges (DEXs) and finance (DeFi).
Limited supply vs. increasing demand is the bottom-line for Bitcoin, with macroeconomic underpinnings that support its march toward the market cap of gold, at a price of $500,000 by some estimates. Or it could fail.â
The estimates that the analyst refers to are likely based on assumptions that Bitcoinâs market capitalization will eventually reach parity with goldâs $9 trillion.
Dividing that number by the maximum supply of Bitcoin of 21 million produces $428,571.
A similar sentiment was recently voiced by The Morgan Creek Digital co-founder Anthony Pompliano.
Zero to five hundred thousand provide a pretty good margin of error, unlikely Bloomberg will be proven wrong anytime soon.
In other trending Bitcoin News today:
Bitcoin (BTC) Is the Best Reserve and Collateral Asset Ever Created, Says Global Macro Investor CEO
The CEO of Global Macro Investor, Raoul Pal, says Bitcoin (BTC) is the best reserve and collateral asset ever created.
In a new report on the leading cryptocurrency, the former Goldman Sachs hedge fund manager says he thinks BTC, with its permanently limited supply, is the âhardestâ form of money created.
He says as a reserve asset, it is superior to gold in every metric due to its decentralized nature and provable transaction history.
Pal, who predicted the 2008 financial crisis, notes that, in the current macroeconomic structure, government bonds serve as the âbottom of the pyramidâ in terms of collateral for the world and the U.S. Treasury.
âThat used to work just fine until the central banks became fearful of allowing the business cycle to run unimpeded. Thus, when debt loads became unsustainable, meaning that the weakest borrowers couldnât get access to enough collateral, instead of the price of collateral rising, thus forcing firms to go bust, central banks began to increase the supply of collateral and reserves (quantitative easing).â
However, this devalues the collateral over the longer term and leads to debt spirals, Pal explains. Bitcoin, however, doesnât have this problem, according to the investor.
âBitcoin is pristine collateral. The greatest form of collateral. Its blockchain ownership structure reduces the huge black swan of risk of who owns what. It is all recorded and more importantly, provable.â
Pal notes that all BTC needs to become the preeminent form of collateral is a yield curve indicating future value, something that is already happening with the breakout of decentralized finance (DeFi).
âThe revolution in DeFi is doing just that, establishing a forward curve of future value. It is only at the money-market phase right now (short-term yield curve) but over time we will establish the time preference for Bitcoin over 30 years or more, just like bonds.â
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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.
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In the post-Halving bull cycles, bitcoin can often correct 25% (even 40% + in 2017), throwing off the short-term traders (or giving swing traders a shot at the short side). Each of those was a buying opportunity. DCA opportunity ahead? đđ€#Bitcoin pic.twitter.com/tL443DyX63
â Raoul Pal (@RaoulGMI) September 3, 2020
I wrote a very long GMI Monthly this weekend (143 pages, 15,500 words). The core focus was this month on crypto, which I think its the worlds best trade and of which Im irresponsibly long.
Here are a couple of pages with some top-down thoughts.. #Bitcoin pic.twitter.com/xltojJtQn1
â Raoul Pal (@RaoulGMI) August 31, 2020
https://cointelegraph.com/news/bloomberg-bitcoin-could-hit-500k-or-drop-to-zero
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Bitcoin Price To Rise Above ,000 in 2020, Says Bitpayâs Singh | Elon Musk Drops BTC Bomb
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âTis the season of Bitcoin price predictions.
Only days after Nexo co-founder Antoni Trenchev made the case for a $50,000 BTC price in 2020, Bitpay Chief Commercial Officer Sonny Singh has also shared his belief that Bitcoin (BTC) will hit a new all-time highs this year.
Notably, Singh shared what turned out to be a correct prediction that Bitcoin would get close to $15,000 in 2019 with Bloomberg a little more than a year ago.
âThis year, Iâm going to make a prediction,â Singh told Bloombergâs Taylor Riggs on Wednesday.
âI think Bitcoin passes the all-time high and goes passed $20,000 this year.â
In other Crypto news today, Elon Musk dropped a Bitcoin Bomb on Crypto Twitter⊠again.
In an innuendo-filled tweet, the chief executive of both SpaceX and Tesla joked that Bitcoin is â*not* my safe word.â (If you donât know what âsafe wordâ means, please search it up.)
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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.
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Bitcoin is *not* my safe word
â Buff Mage (@elonmusk) January 10, 2020
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BITCOIN SET TO ERUPT TO 0,000 IN LUDICROUS BTC BULL RUN NEXT YEAR PREDICTS CRYPTO FUND GIANT!!
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Dan Morehead, founder of Pantera Capital, says the Bitcoin price has a pretty good shot at hitting $100,000 per BTC by the end of next year.
Along with Micheal Sonnenshein of Grayscale Investments, together they share their bullish forecasts on the Bitcoin (BTC) price trajectory.
On a new episode of the Money Movement podcast, Morehead says he and his firm remain bullish on the godfather of cryptocurrency.
He believes BTC is gearing up for another bull run that would be deemed âludicrousâ by traditional standards.
â[Bitcoinâs] got a nine-year 209% compound annual growth rate and we think it will continue, and itâs just that simple. It has some bubbles, it has some down trades, but if it got back on that trend it would be at $100,000 at the end of next year.
In the normal markets, saying something goes up 10x is ludicrous and youâd be ridiculed but, it happens every three or four years and all the factors are coming together. So I think it is a pretty good shot that hits $100,000 at the end of next year.â
Sonnenshein says people shouldnât be putting money into Bitcoin unless they can afford to lose it.
He cites a recent report from Grayscale that compares BTCâs current market structure to 2016 before the coin began a historic 4,400% rally.
âIn my opinion, Bitcoin is not something people should be putting more money into than they can afford to lose. Think of it as an early-stage technology.
Buyer beware, it does have those 80% drawdowns, but from here, Bitcoin is either a hell of a lot higher and a lot more valuable than it is today, or something somehow comes along and displaces Bitcoin and we all move on to something else.â
In other trending Bitcoin News today:
This Newly Created Crypto Asset Just Surged 6,200% â And Bitcoin Trader Josh Rager Says Itâs Just Getting Started
Crypto strategist and trader Josh Rager is a keeping a watchful eye on a new crypto token that has skyrocketed by about 6,200% in less than a month.
Rager tells his 87,000 Twitter followers he sees Shroom.Finance (SHROOM) doubling in value in the next 30 days.
âSHROOM is currently near $0.01 and if MEME can go from $30 to $1600 in one month, thereâs no reason why SHROOM canât go from current price to $0.50+ the coming month if Shroom bridges gaming, DeFi and NFTs, especially as liquidity is added in the coming weeks as LPs will be rewarded.â
According to its website, Shroom.Finance is a fork of the Sushiswap protocol.
The new crypto asset seeks to build community-owned DEXes (decentralized exchanges) that specialize in the $10-billion in-game asset industry.
âWe foresee a future where in-game assets, fungible and non-fungible, trade freely in a decentralized fashion, and we are here to take that spot and facilitate the ownership to a community of gamers.â
Rager points to the emergence of the widely-talked about non-fungible tokens (NFTs) as a possible bullish catalyst for SHROOM.
âLetâs just say NFTs are one of the hottest trends to hit 2020. And Shroom Finance team is building a decentralized ecosystem for in-game assets trading and minting. This includes NFTs (ERC-721, ERC-1155) and ERC-20 token standards. Iâm really bullish on SHROOM for long term.â
The trader also says that Shroom.Financeâs new DEX will allow SHROOM holders to participate and generate income via yield farming.
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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:
Prepare for a great Q4 2020 for BTC folks (blah blah, de-coupling, blah blah, new correlations). The difficulty ribbon is one of my more reliable personal favourites. https://t.co/syPL4RfFTD
â Willy Woo (@woonomic) September 28, 2020
$SHROOM is currently near $0.01 & if MEME can go from $30 to $1600 in one monthThere’s no reason why SHROOM can’t go from current price to $0.50+ the coming month if Shroom bridges gaming, defi & NFTs
Especially as liquidity is added in the coming weeks as LPs will be rewarded
â Josh Rager đ (@Josh_Rager) September 21, 2020
https://cointelegraph.com/news/bitcoin-difficulty-ribbon-chart-hasnt-been-this-bullish-since-march
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