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The Winklevoss Twins, co-founders of the Gemini crypto exchange, recently stated that the Bitcoin price will hit $500K in the years ahead due to BTC having the potential to outpace gold:
“Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or BTC will outrun the scourge. And money stored in BTC will run the fastest, overtaking gold…
Nonetheless, we believe that BTC will continue to cannibalize gold and that this story will play out dramatically over the next decade. The rate of technological adoption is growing exponentially. Software is eating the world and gold is on the menu.”
Raoul Pal, CEO of Real Vision and a former hedge fund manager, also recently stated that Bitcoin could hit $1,000,000 in this market cycle.
He believes that institutional investment in the cryptocurrency will drive this rally.
Pal recently stated that he has over 60% of his net worth in Bitcoin or Ethereum, citing his belief that the cryptocurrency market may be the best trade of his lifetime. He added that he would not be surprised to see his personal allocation to Bitcoin increase toward 80% or even higher in this market cycle.
According to a macro analysis by crypto-asset trader Josh Rager, Bitcoin is on the verge of an exponential uptrend.
The trader shared the chart below, noting that every time “Bitcoin has closed above the previous monthly all-time high,” a 700-1,000 percent uptrend followed suit.
Bitcoin will likely do this once again if November closes above $14,000.
What could follow is a surge toward $100,000, or potentially even higher:
“Every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1000% uptrend has followed. November could be the first monthly close that we see breaking the previous high and historically that’s been a very bullish sign for the crypto market”
In other trending Bitcoin News today:
“Bitcoin Price Climbing to $20,000 and Volatility Spike in November Very Likely: Kraken Report”
Kraken released its August Bitcoin Volatility Report 2 months ago.
Then the cryptocurrency exchange sounded supremely confident about BTC registering higher highs as the year ends.
In its October version of the same report, Kraken has maintained its bullish stance.
November will see bitcoin log much higher price and volatility rallies.
Also, BTC might as well be on the way to reclaiming the previous all-time high of $20,000. In other breaking BTC news today:
“Iran Becomes First Country to Embrace Bitcoin as Medium of Exchange”
Max Keiser, host of the Keiser Report recently tweeted:
“Iran is winning Global Hash War. America is being left behind. Very little time left for US to get going otherwise US economy will get REKT”
The Central Bank of Iran (CBI) announced Thursday that it would be utilizing legally mined cryptocurrency to pay for imports.
Bitcoin, which political dissidents in the United States and beyond have been using after being locked out of banking services, will be mined by
Iranians with subsidized electricity from three of the nation’s power plants.
They are the first nation to declare the currency an official medium of exchange.
Iran is taking these measures due to aggressive attacks on its economy by the United States Treasury, which is controlled by Jewish investment bankers Steve Mnuchin and Justin Muzinich.
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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.