Bitcoin Will Reach 0K After Halving, History Dictates | BTC Price 4,000% Rally Signal Forms Again

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Weiss Ratings, a US-based investment data firm, is laying out what it will take for the Bitcoin price to hit $180,000.

In a new BTC review, the firm says the financial world is beginning to wake up to the true potential of Bitcoin as a safe-haven asset.

The firm points to growing demand for shares of the Grayscale Bitcoin Trust as a sign of rising institutional interest.

“Between the third quarter of 2019 and the first quarter of 2020, the amount invested in [GBTC has] more than doubled — from $388.9 million to $818.5 million.”

Weiss believes the entry of billionaire hedge fund manager Paul Tudor Jones into the Bitcoin futures market shows institutions are paying increasing levels of attention to the crypto markets.

Weiss calls BTC the “one safe-haven asset with the most profit potential” in an environment where central banks print money at will.

But the arrival of big-money players is just the tip of the iceberg. The firm says Bitcoin is far better than gold in terms of security, portability, and utility – and the floodgates will open once investors grasp the fact that Bitcoin is superior to gold as a safe-haven asset.

“If Bitcoin captures only a third of gold’s safe-haven business, it’s going be trading near $180,000 — roughly a 20-fold increase from present levels.”

The firm has provided financial market research and analysis for consumers and businesses for more than three decades, and released its first crypto rankings in January of 2018.

In other trending Bitcoin News today:

This Analyst Called Bitcoin’s Last Epic Crash – And Just Unveiled His BTC, XRP and Stock Market Outlook

A veteran commodity trader with more than 30 years of experience in the markets is revealing his take on Bitcoin and XRP, as well as his recommended investment strategy for the next generation.

Peter Brandt is well-known in the world of crypto for correctly calling the start of Bitcoin’s seismic reversal in early 2018, right after the coin touched its all-time high of just over $20,000.

Now, after Bitcoin’s precipitous fall to a low of $3,150 and its subsequent rise to its current price of about $9,300, Brandt says he believes Bitcoin is a buy.

Brandt is revealing the long-term strategy for building wealth that he recommends to family members. He places BTC on his list of top investments and says he’s bullish on tech stocks in the long run.

“I will give you the same advice I give my X Gen children and M Gen nephews and nieces. Buy a home – any home, but get into the housing market. Work two jobs if you need to. Invest 10% of what you can afford in BTC. Invest monthly in quality tech and value stock ETFs.”

Brandt has previously stated that he believes Bitcoin is gearing up for a new parabolic rally that will target $100,000.

However, despite the fact that large BTC bull runs have historically lifted the value of all cryptocurrencies, Brandt says he’s wary of XRP, giving traders a simple statement on where he thinks the fourth-largest cryptocurrency by market cap is heading.

“Don’t place your faith in XRP.”

Brand believes Ripple’s ownership of more than half of the total supply of XRP is a potential liability and says the coin has more room to fall after remaining flat in 2020.

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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:

General TA rule — violation of parabolic advance leads to 80%+ decline in value. If general rule is followed, BTC should retrace to

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Bitcoin price just had a nice pump to $7,686 and is currently sitting at $7,458 after the Cryptocurrency market trading sideways over the past few days.

Bitcoin bears target BTC price at $5,000. Cointelegraph contributor Benjamin Pirus wrote that after BTC’s corrective bounce up to $7,875 last week, Bitcoin was unable to shake its larger downtrend.

Instead, it headed back down to the $7,300 trading region.

Pirus added that BTC could ultimately drop to a trading price near the $5,000 price mark, as its charts look mostly bearish at present.

In other Crypto news, how would you like to earn interest on your Bitcoin (BTC) and Crypto assets?

In a little under a year, DeFi has become a significant component of the cryptocurrency ecosystem.

But which platforms pay the most interest? Decentralized finance is often hailed as a prime use case for digital assets.

Lending practices among DeFi platforms follow similar patterns: loans are overcollateralized, meaning the risk of default is negligible and lending is more responsible than that of the fractional reserve banking system used by legacy lending institutions.

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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:

Best Places to Earn Interest on Your Cryptocurrency

https://cointelegraph.com/news/market-mostly-trades-sideways-as-bitcoin-price-hovers-around-7-300

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The average value of Bitcoin transactions has increased dramatically since July this year. 

The average BTC transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.

The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours.

This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017.

The $151,000 average value is 190 times more than Ethereum’s average transaction value of $793, suggesting a significantly greater institutional presence in the Bitcoin markets.

However, the number of daily Ethereum transactions increased by 30% amid the DeFi boom in August, reaching a 2-year high of 1.29 million on Aug 10.

Over the same period, Bitcoin transactions consistently hovered between 300k and 350k, suggesting the Ethereum ecosystem was the primary magnet for new crypto users.

The number of Bitcoin active addresses also showed no significant changes, fluctuating between 650k and 970K over the last 4 months.

Accumulation figures show that institutional investors are starting to take notice as large investment firms, like Grayscale and Microstrategy, increased their accumulation of large amounts of Bitcoin and other cryptocurrencies over the last few months.

By the end of September, Grayscale controlled at least 449,900 BTC or 2.4% of the current supply of Bitcoin, and Microstrategy owned 38,250 BTC.

Two weeks later, Jack Dorsey’s Square purchased 4,709 BTC (approximately $50 million) in Bitcoin.

In other trending Bitcoin News today:

“PayPal To Offer Crypto Payments Starting In 2021”

PayPal announced on Wednesday its entry into the cryptocurrency market, according to multiple reports.

PayPal customers will be able to use cryptocurrencies to shop at any merchant in its large network starting from early 2021, the company said.

The payments will be settled through fiat currencies, similar to many existing crypto merchant solutions like BitPay.

This means that the merchants will be receiving fiat, as PayPal will take care of the conversion. 

The coins initially supported will include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the company said.

The payments giant partnered with Paxos to deliver the service, and it obtained a conditional cryptocurrency license from the New York State Department of Financial Services, commonly known as the BitLicense.

In addition to cryptocurrency payments, PayPal users will also be able to purchase crypto directly through the app.

PayPal will thus feature a cryptocurrency wallet, letting users buy, sell and hold crypto via the PayPal apps.

PayPal is one of the largest global payment providers, with 346 million active accounts and $222 billion in volume processed in Q2 2020.

It was one of the initial founding members of the Libra association, though it subsequently dropped out after regulatory pressure mounted for the project.

Rumors of a planned crypto integration surfaced earlier this year.

The company is nevertheless often criticized in crypto circles due to perceived unfair practices and the amount of control it has within its own network.

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► 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:

Finally!PayPal joins the bitcoin space race.+ 346 million users+ 26 million merchants + 20th largest “bank” by deposits

Between them, Square, and Grayscale, it’s safe to assume that all remaining BTC will be hoovered up by public companies. https://t.co/d3oEk0LLgv

— Ryan Selkis (@twobitidiot) October 21, 2020

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idUSL1N2HB14U

https://cointelegraph.com/news/bitcoin-average-transaction-value-increases-500-since-july

https://cointelegraph.com/news/paypal-to-offer-crypto-payments-starting-in-2021

https://cointelegraph.com/news/bitcoin-price-rally-to-12k-is-meaningless-until-bulls-flip-it-to-support