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Widely-followed crypto strategist and trader Michaël van de Poppe is looking at the bigger picture to analyze the state of the Bitcoin bull market.
According to the psychology of a market cycle, the disbelief phase is the earliest stage of the bull market, where market participants believe that the rally will abruptly end.
Van de Poppeâs current sentiment that BTC is in the early stages of a bull market aligns with his prediction that Bitcoin will hit $300,000 by the end of the current boom cycle.
In other trending Bitcoin News today:
Asset Giant Charles Schwab Exploring Support for Bitcoin and Crypto Markets
Investment services firm Charles Schwab is keeping an eye on the developments in the crypto space as the company with over $7 trillion in client assets says the doors are open for supporting Bitcoin and crypto markets.
In the companyâs newest business update, Charles Schwab CEO Walt Bettinger says that the company is looking very closely and cautiously at the crypto market.
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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:
Asset Giant Charles Schwab Exploring Support for Bitcoin and Crypto Markets
https://cryptopotato.com/2-on-chain-metrics-suggest-bitcoin-bullish-bias-intact/
After The Crash: Why Bitcoin Could Have More Upside Potential
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MAX KEISER SAYS BITCOIN WILL ROCKET TO #post_titleM AS BIG INSTITUTIONS BUY BTC DIRECTLY FROM MINERS!!
âĄïž Leverage OPM (Other Peopleâs Money): http://opm.cryptonewsalerts.net
The Bitcoin price will rise exponentially until âitâll get almost impossible to buy BTC as price rockets higherâ Max Keiser has announced.
Speaking to Express.co.uk, RT host of the Keiser Report, Max Keiser said:Â
âThe demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day.Â
This is why I think institutions that are buying Bitcoin will do so directly from miners and the public wonât have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 per BTC.â
âMeanwhile, Generation Z who bought lots of bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.â
Studying the daily demand for Bitcoin from the worldâs major exchanges, the current estimated average daily demand far outweighs the daily supply created by mining bitcoin.
The daily demand on exchanges amounts to 2,600 BTC, whereas the supply from mining is only 900 Bitcoin.
Of this disparity, Max Keiser said: âThis is amazing, the daily demand from these four is 2,600 Bitcoin, but the daily supply from mining is only 900 Bitcoins.â
This Bitcoin prediction of an escalating price was also echoed by Dan Morehead, the CEO of Pantera Capital, who said:Â
âThe first investment firm in the US to launch a digital currency, pre-auction ICO, and blockchain-enabled venture funds.Â
PayPal and CashApp already buying more than 100 percent of all newly-issued bitcoins. PayPal alone likely buying all within weeks. Where would Cash App get theirs? Thatâs where the finite-supply, inelasticity part comes in, at a higher price.â
Bitcoin expert Dan Held gave a list of the financial institutions âand trading legendsâ that recognize Bitcoin is the new gold.
Mr Held tweeted the following names and institutions, âFidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmillerâ.
A follower of Mr Held tweeted: âBitcoin will divide people into two groups. In those who have it and those who want it.â
In other trending Bitcoin News today:
âBlackRock Chief Investment Officer Says Bitcoin Will Overtake $10 Trillion Gold As Primary Store of Valueâ
Rick Rieder, chief investment officer of global fixed income at investment management corporation BlackRock, says he believes Bitcoin will surpass gold as the primary store of value.
In a CNBC Squawk Box interview, Rieder explains why he believes Bitcoin and cryptocurrency at large arenât going anywhere.
âI think cryptocurrency is here to stay and I think it is durable and youâve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennialsâ receptivity to technology and cryptocurrency is real. Digital payments systems is real so I think Bitcoin is here to stay.â
The BlackRock executive highlights why he believes Bitcoin will overtake gold as the go-to store-of-wealth asset.
âDo I think it will take the place of gold to a large extent? Yeah, I do because itâs so much more functional then passing a bar of gold around.â
While Rieder sees a rosy future for the largest cryptocurrency, he admits that he does not include much BTC in his corporate and business portfolios.Â
Also, the BlackRock CIO says heâs unsure whether Bitcoin is worth the price it is trading at today, which is around $18,770.
Rieder is the latest high-profile Wall Street figure to see the potential of Bitcoin. Earlier this month, billionaire investor Stanley Druckenmiller revealed he owns Bitcoin and said that the flagship cryptocurrency has more upside potential than gold.
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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:
Current #bitcoin price action is nice, but we are waiting for a real jump (like the red arrows early 2013 and 2017). IMO that will be the start of the real bull market, and indeed phase5. January 2021? pic.twitter.com/orzwdCOcvP
â PlanB (@100trillionUSD) November 22, 2020
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SUPERCYCLE MAY PROPEL BITCOIN OVER $1 MILLION SAYS KRAKENâS DAN HELD!! MORGAN STANLEY BUYS BITHUMB?!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
According to Dan Held, growth lead at Kraken, Bitcoin is currently experiencing a supercycle that could propel it all the way to $1 million.
In Heldâs view, this market cycle is fundamentally different from previous ones. âThis is one in a hundred year momentâ, he said, mentioning the coronavirus crisis, growing distrust in financial institutions and central bank money printing as catalysts of the current crypto bull market.
âPeople arenât just in it for a speculative run anymore. People are buying it because they see Bitcoinâs valueâ, he explained.
Held is also convinced that once Bitcoin will reach its full potential as digital gold, it will challenge governmentsâ monopoly over money.
âBitcoin undermines their entire power and authority by removing money from their ownership,â he said.
At that point, governments will see crypto as a threat and crack down on it in what Held defines as a âcrypto mass extinction event.â According to Held, altcoins wonât be able to survive such an attack, since most of them are âdegrading their censorship resistance and decentralized properties in order to increase their throughput.â Bitcoin, however, was specifically designed to resist such censorship.
âSatoshi built the Blockchain to build Bitcoin, and he built it to be an incredibly resilient tool against governments,â Held said.
In other trending Bitcoin News today:
Morgan Stanley Rumored To Be Eyeing Stake In Top Korean Exchange Bithumb
According to Korean media, U.S.-based multinational investment banking giant Morgan Stanley is rumored to be negotiating the acquisition of a significant share in leading Korean cryptocurrency exchange, Bithumb.
The news was reported on March 18 by Aju News, with Bithumb reportedly in discussions with major Bithumb shareholder, Bident â who owns a roughly 10% stake in Bithumb Korea.
A March 19 article from leading local search engine Naver states that Morgan Stanley is planning to invest between 300 and 500 billion Korean won ($254 million to $441 million). The report cited an anonymous senior Bithumb representative as stating, âMorgan Stanley participated in the acquisition of Bithumb.â
âThe reason Morgan Stanley used Bident is because it understood that Bident has the right to negotiate a preferred sale to acquire Bithumb Holdings,â said a second anonymous source familiar with the matter.
Cointelegraph markets analyst Joseph Young shared the news to Twitter, noting Bithumb is targeting a $2 billion valuation.
The news comes two days after Cointelegraph reported on an âinternal memoâ from Morgan Stanley announcing the firm will launch three funds enabling Bitcoin ownership for wealthy customers with âan aggressive risk tolerance.â
Eligible clients must be accredited investors and hold at least $2 million worth of capital with the company. Minimum investments into the funds are $5 million.
Commenting on the news, Devin Ryan of U.S. investment bank JMP Securities predicted Morgan Stanleyâs crypto-friendly funds will prompt other financial institutions to explore offering their clients exposure to digital assets.
âMotivations range from missing the opportunity at best, or at worst, seeing business disruption if clients decide better alternatives exist, which could negatively impact growth or competitive positioning,â Ryan said.
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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:
Wow.Morgan Stanley is reportedly bidding for Bithumb, South Korea’s top crypto and bitcoin exchange, for $2 billion valuation.Slowly, then surely.
The explosiveness of institutional interest in this space right now is unprecedented.
â Joseph Young (@iamjosephyoung) March 19, 2021
More and more people are beginning to understand how #Bitcoin demonitizes violence. If you want peace switch to a Bitcoin standard.
âMax Keiser Makes Claim That Bitcoin Could Prevent 9/11 Attacksâ https://t.co/h7fRq3kBrA
â Max Keiser (@maxkeiser) March 18, 2021
https://cointelegraph.com/news/supercycle-may-propel-bitcoin-over-1-million-kraken-s-dan-held-says
https://cointelegraph.com/news/bitcoin-price-facing-final-resistance-before-68k
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FIRST U.S. BITCOIN MUTUAL FUND LAUNCHED BY $60 BILLION FUND MANAGER!!!!
đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
The first publicly available U.S. mutual fund that generally tracks the Bitcoin price has been launched by a $60 billion fund manager.
In a press release this morning ProFunds announced the launch of its Bitcoin Strategy ProFund (BTCFX). This will be the first publicly available U.S. mutual fund that generally tracks the price of Bitcoin.
On the ease of access and mass exposure that this mutual fund will provide, ProFunds CEO Michael Sapir said that âCompared to directly buying bitcoin, which may involve opening a new account with an unregulated party, this ProFund offers investors the opportunity to gain exposure to bitcoin through a form and investment method that tens of millions of investors are familiar with.â
On the increased demand for a Bitcoin mutual fund, Michael Sapir commented it âhas become a significant asset class, and our new Bitcoin Strategy ProFund provides investors access to a bitcoin strategy through a mutual fund investment.â
In other trending Bitcoin News today: Record 57K BTC leave exchanges in one day, dropping Bitcoin reserves to pre-crash levels.
Yesterday was the largest Bitcoin net outflow from exchanges since 2016. BTC needs to close above $40,035 today to make 9 green days in a row â the longest streak since May, 2017.
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Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
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:
#Bitcoin game-theory kicking in with Americaâs hedge funds and political insider-traders. Beautifully, the protocol obviates the need for politicians â so good-bye asshat Liz Warren. $220,000 in 2021 still in play
Buy #Bitcoin, short đșđž pic.twitter.com/eM2u7lhhO9
â BITCOIN MAXIMALIST (@maxkeiser) July 28, 2021
https://bitcoinmagazine.com/markets/bitcoin-mutual-fund-manager-profunds
Itâs On, Elizabeth Warren Triggers Retaliation From The Crypto Community
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