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Cryptocurrency analyst Michaël van de Poppe is saying that Bitcoin (BTC) is set to hit a six-figure price in the current bullish cycle.
The crypto analyst says Bitcoin is likely to replicate a previous pattern, when BTC surged from around $15,000 to slightly over $63,000, before possibly reaching a new all-time high of at least $250,000.
âSo we get some sideways action, get to watch the all-time high, get down sideways action, big breakout. And then we get into the final phase in which you can simply copy-paste this entire run [$15,000-$63,000] towards the one that we have above $63,000. And then we probably assume that weâre going to get towards $250,000 or higher.â
In other trending Bitcoin News today: Bitcoin Could Surge to This Near Six-Figure Price by Year-End, According to Crypto Exchange Kraken!
Cryptocurrency exchange Kraken says that Bitcoin could end the year with a massive surge that would more than double BTCâs value from its September closing price.
In a new report, Kraken says that Bitcoin has typically recorded the best annual performance during the last three months of the year (Q4).
âAt BTCâs quarter-end closing price of $43,800, a +119% return in 4Q2021 would put BTC at roughly $96,000.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.
Show Notes / Resources:
https://cointelegraph.com/news/pro-crypto-senator-cynthia-lummis-discloses-up-to-100k-btc-purchase
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I WONâT BE SURPRISED IF BITCOIN HITS 0K BY 2022, SAYS FAMILY THAT BET EVERYTHING ON BTC AT 0!!
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Didi Taihuttu, his wife, and three kids bet âeverythingâ they have on Bitcoin.Â
This is how the legend of the BTC family begins.
In 2017, CNBC spoke to the Dutch family of five when they were in the process of liquidating their assets â from a profitable business and 2,500-square-foot house, to their shoes â and trading it all in for the popular cryptocurrency and a life on the road.Â
Nearly four years and 40 countries later, Taihuttu and his family still donât have bank accounts, a house, or all that much by way of personal possessions. All of the familyâs savings remain tied up in highly volatile cryptocurrencies.Â
âWe stepped into bitcoin, because we wanted to change our lives,â said the 42-year-old father of three.
When the price of bitcoin collapsed in 2018, Taihuttu added more to his investment portfolio. He says he was always a firm believer that the cryptocurrency was poised for a major rebound.Â
âI think in this bull cycle, we are going to see a minimal peak of $100,000. I wonât be surprised if it hits $200,000 by 2022.âÂ
The price of bitcoin reached an all-time high on Monday, as it closed in on $20,000. And some analysts say the cryptocurrency still has a lot of room to run higher.Â
Mike Novogratz, CEO of investment firm Galaxy Digital, thinks this comeback rally is only just getting started. He sees bitcoin rising to $60,000 by next year.Â
And Tom Fitzpatrick, global head of CitiFXTechnicals, said the charts signaled that bitcoin could reach $318,000 by December 2021, in a report meant for Citibankâs institutional clients and obtained by CNBC.
Taihuttu bought the bulk of his bitcoin holdings when it was was trading at around $900 in early 2017, just months before it reached nearly $20,000 a coin.Â
Even as bitcoin peaked, the family stayed invested in the cryptocurrency. Once the bubble burst, and the price tumbled down to about $3,000 in early 2018, Taihuttu and his family werenât deterred. âWhen bitcoin dipped, we started to buy more.âÂ
When I asked Taihuttu on our Skype call whether he was worried that we could be in the midst of another bitcoin bubble, he doubled down on his investment. âI donât see demand going down,â he added. âI think weâre headed for a supply crisis.âÂ
In other trending Bitcoin News today:
Billionaire Paul Tudor Jones Says Bitcoinâs âCrazy Rocket Ship Rideâ Is Just Beginning
Veteran investor and hedge fund manager Paul Tudor Jones is likening Bitcoin and crypto to the early stages of the internet.
In an interview with Yahoo Finance, Jones says that while he is not sure where Bitcoin will land in the financial landscape a decade from now, he is fairly confident that it is in the early stages of a major upward movement.
âSo what I do know is that itâs no way possible today to know what the next 10 or 20 years are going to be like and I know if I had to take a position on it Iâm going to take the brand name and Iâm going to assume that itâs the wrong price for the possibilities that it has and Iâm going to assume that the path forward from here is north.
I think crypto is going to have a crazy rocket ship ride, up and down along the way, but my guess is that something like Bitcoin in particular will be substantially higher 20 years from now than where it is right now and who knows what role it has in the monetary system.â
âBitcoin reminds me so much of the internet stocks of 1999 because [when] the internet was in its infancy no one knew how to value it because of the world of possibility that lay ahead.
What you can be certain of is that probably 20 years from now is that weâll be using some kind of digital currency.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.
Show Notes / Resources:
Micro strategy now holds 40k bitcoin.There is about 2.44M bitcoin left to mine.So if we think of fresh supply coming in, there is only room for 61 more companies to hold as much as MSTR before the last sat is mined.
The rest has to be torn out of hodler hands.
â hodlonaut đźâĄđ đ (@hodlonaut) December 4, 2020
https://finance.yahoo.com/news/microstrategy-buys-additional-50m-bitcoin-225922648.html
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BITCOIN SURGED 4,000% AFTER IT TOOK THIS LEVEL IN 2016. IT JUST HAPPENED AGAIN!! | BTC Halving 2020
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BITCOIN RETAKES CRUCIAL KEY LEVEL THAT CATALYZED
4,000% RALLY According to a crypto trader, Bitcoinâs strong rebound in April saw the BTC price close its monthly candle above a key level of the Ichimoku Cloud on the one-month chart.
This is relevant for BTC because the last time Bitcoin claimed this technical level was in early 2016, when the Bitcoin price was trading around $500 and prior to the 4,000% rally that brought the cryptocurrency to $20,000 just 20 months later.
This historical precedent suggests that the crypto market is on the verge of its next parabolic rally.
This is the latest of many historically-relevant signs that Bitcoin is soon going to erupt into a full-blown bull run.
Bitcoinâs trend earlier this week was so strong that amid the peak of Wednesdayâs rally a trader observed an unexpected technical occurrence:
The relative strength index (RSI) reading of Bitcoinâs one-hour chart hit 96.5 â just a few points shy of the top of the oscillator, 100.
Traditional forms of technical analysis state that whenever the RSI passes the level of 70, it is overbought over the time frame that is being analyzed.
The fact that Bitcoinâs one-hour RSI briefly hit 96.5 means that it was extremely overbought, almost to the point of lunacy.
According to a crypto trader, the last time this metric was this high for BTC was in April 2019, on the day that the cryptocurrency rocketed 25% higher within the span of a few hours.
What followed this move was an extended rally from the $4,000s to $14,000 within three months.
Similarly, a trader shared the chart in the wake of Bitcoinâs recent strength, noting that the rising wedge that had constrained Bitcoinâs price for the past six weeks has been decimated, with clear invalidation to the upside.
Whatâs especially notable about this formation of BTC breaking above a rising wedge after a bear market, this is the exact same market structure that marked the start of 2019âs bull run, which brought prices from the $4,000s to $14,000 in three monthsâ time.
In other trending Bitcoin News today:
Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches
A prediction that Bitcoin (BTC) is about to begin a fourth parabolic phase that will bring the leading cryptocurrency to more than a quarter-million dollars is lighting up the cryptoverse.
A post revealing the new forecast from price analyst PlanB shot across crypto Twitter this week, with more than 4,200 likes.
But the forecast itself has reignited the great debate on the relationship between Bitcoinâs halving â which will slash the rate of new BTC entering the market in a matter of days â and the price of BTC.
According to PlanB, who recently told Morgan Creek Digital co-founder Anthony Pompliano that heâs a member of an institutional investment team that manages roughly $100 billion in assets, his latest stock-to-flow model shows BTC rising to $288,000 by the end of 2024.
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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:
Daily Ichimoku will very likely confirm fully bullish on todays close, as well as 2D Kumo Breakout with a bullish Kumo Twist
I cannot not be bullish on Q2. I want to buy dips. pic.twitter.com/1OUDSintY9
â Smokey (@TraderSmokey) May 1, 2020
Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches
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WHY BITCOIN SHOULD TECHNICALLY HIT ,000 BEFORE NOVEMBER 1ST!! 4k BTC PRICE IN 4 YEARS!!
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The underlying reason for Bitcoin (BTC) hitting $28,000 by November 1, 2020, is based on historical data and not just an analystâs prediction.
Bitcoinâs volatility is a well-known aspect of the asset and the fact that this aspect is high is whatâs preventing it from becoming an everyday unit of exchange/account or in simple terms â money.
Arguing the soundness of Bitcoin is for another day, however, whatâs important is this historical data that suggests an average BTC return of 196% after a certain condition has been met.
According to Krakenâs August volatility report, there are âsuppressed pocketsâ which represent bitcoin volatility slump between 15% to 30%.
To date, bitcoin has only every hit these pockets 12 times, and every time bitcoin slides into these pockets, it reverses to the mean, which happens to be a 315-day moving average.
In other words, after sliding into these pockets, volatility has seen an average surge of 140%.
Whatâs interesting is the price implication of this volatility suppression and eventual expansion.
It was observed that the price saw an average surge of 196% over the next 90 days.
On two separate occasions â 2014 and 2018, the returns were -60% and -45%., hence, there is an 83% chance of price surging 196%.
Considering the last dip in the pocket was July 24, 2020, and the surge as of writing was only 4.36%, there is a lot of upside for Bitcoin.
196% surge from July 24, over the next 90 days should put bitcoin between the $28,000 and $30,000 range and on October 22, 2020.
This would mean the Bitcoin price has to surge a 4.2% surge every day to hit the target of ~$30,000.
In other trending Bitcoin News today:
PlanB: $700,000,000 Investment in Bitcoin Industry Shows New Phase of BTCâs Financial Takeover Underway
Recent Bitcoin developments have convinced popular analyst PlanB that Bitcoin is entering a new phase of adoption.
The anonymous trader and creator of the stock-to-flow Bitcoin model points to a Reuters report that Kazakhstan has been in talks to attract more than $700 million worth of investments into the cryptocurrency sector.
The oil-reliant central Asian country offers BTC miners cheap electricity rates and reportedly accounts for more than 6% of the total Bitcoin hashrate across the globe, according to a report published in the Cambridge Centre for Alternative Finance.
PlanB also points to last monthâs news that MicroStrategy, the largest publicly-traded business intelligence company, had used $250 million of its balance sheet capital to buy Bitcoin.
âThis is a game changer: Nasdaq-listed company with $250M Bitcoin (25% of assets, 15% of market cap) is basically a Bitcoin ETF! Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF).â
PlanB recently told cryptocurrency podcaster Peter McCormack that he actually made a conservative bet when he predicted that BTC will hit $288,000.
Instead, he says it could meteorically rise to $864,000 in four years.
âIâm on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I donât mean the time-series model. So weâre not looking at Bitcoin only. Weâre looking at gold, silver, diamonds, real estate, all that stuff.
Itâs $288,000. Thatâs an average value. It could overshoot, like three times, like it did the last phases. I donât want to mention the number. I try to be conservative all the time. But letâs say a 2x or a 3x from that $288,000, and then it crashes again, of course.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.
Show Notes / Resources:
đ„đ„đ„This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)
So it begins https://t.co/UepeYeOqbI
â PlanB (@100trillionUSD) August 27, 2020
#phase5https://t.co/03h07lkiiU
â PlanB (@100trillionUSD) September 5, 2020
Futures bounce back significantly in the U.S. Europe also bouncing back up.
Might signal a slight relief on $BTC as well towards the area of $10,600-10,800.
â Crypto MichaĂ«l (@CryptoMichNL) September 9, 2020
https://cointelegraph.com/news/stocks-may-push-bitcoin-to-108k-says-trader-as-usd-bull-run-falters
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