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Global Equities Researchâs Trip Chowdhry in a note to clients said he thinks the Bitcoin price will rise from $54,000 to $4 million per BTC.
âWe are of the opinion that Bitcoin will get to $4 million per Bitcoin, in the next 18-24 months,â wrote the analyst.Â
Chowdhry also shares 5 reasons why he is confident that the BTC price will reach $4 million.
In other trending Bitcoin News today: Bitcoin âsupercycleâ sets up Q4 BTC price top as illiquid supply hits all-time high!
Bitcoin is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing.
As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin âsupercycle.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://www.forbes.com/sites/chuckjones/2021/07/31/one-analyst-has-bitcoin-reaching-4-million/?sh=3b81e5196611
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BITCOIN SMASHES K! BTC WILL HIT K AS NETWORK EFFECT HAS âTAKEN OVERâ SAYS MIKE NOVOGRATZ!
âĄïž REPLAY: âThe Crypto Catch-Upâ â http://teeka.cryptonewsalerts.net
Bitcoin will hit $65,000 due to a combination of low supply and âtons of new buyers,â major BTC investor Mike Novogratz says.
In an increasingly popular Twitter debate on Nov. 17, Novogratz, who is well known for his prominent Bitcoin plugs, told actress Maisie Williams not to hesitate in buying the cryptocurrency.
Williams had released a poll asking Twitter followers whether or not she should invest in BTC.Â
At press time, the verdict was split, with 47% of the roughly 750,000 responses supporting an investment.
The poll soon caught the attention of famous Twitter users, among them Tesla CEO Elon Musk.
âI bought more BTC last night at 15,800. Itâs going to 20K and (then) To 65K,â Novogratz commented.
âThe network effect has taken over. I see tons of new buyers and there is very little supply. Itâs an easier trade here (than) at 11K. So YES, buy it.â
As Cointelegraph reported, Bitcoinâs recent rise has been noticeable for the lack of associated media attention it has received.
Despite being at levels not enjoyed by the token longer than two weeks in its history, Bitcoin has not yet sparked the same frenzy of publicity that accompanied its rise to $20,000 all-time highs in 2017.
Behind the scenes, however, institutions that were previously unlikely supporters are coming around to the idea of a future in which Bitcoin stars as a major investment asset. Among them was Citibank this week, which forecast a December 2021 Bitcoin price of up to $318,000.
In other trending Bitcoin News today:
âTHE PRIMARY HURDLE TOWARD $50,000 BITCOIN IS THE $20,000 ALL-TIME HIGHâ
Bitcoin has rocketed higher over recent weeks. In the past five weeks alone, the leading cryptocurrency has gained 60%, boosting to $16,600 as of this articleâs writing. Earlier today, the coin was trading higher than this closer to $17,000.
Analysts are confident that further gains are on the horizon.
According to Mike McGlone, a senior commodity analyst or strategist at Bloomberg Intelligence, Bitcoin passing its previous all-time high at $20,000 will cause a large move higher.
Referencing the chart below, he went as far as to say that the cryptocurrency passing $20,000 per coin could trigger a move to a $1 trillion market cap for all Bitcoin. This corresponds with approximately $50,000 per token, a price 200% higher than the current price point of $16,600.
Commenting on what the chart shows for Bitcoin, McGlone wrote:
â$20,000 Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap â The digital version of gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is risingâŠâÂ
Analysts think that Bitcoin moves beyond $50,000 in this market cycle, despite how impressive a rally to $50,000 would be. The Winklevoss Twins, the co-founders of Gemini and long-time BTC holders, recently stated that the cryptocurrency could pass $500,000 per coin in this market cycle:
âInflation 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 Bitcoin will run the fastest, overtaking goldâŠÂ
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.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:
â 1yr HODL % still really high? Yepâ bitcoin being rushed off exchanges? Yepâ funding still neutral? Yepâ Institutions still buying? Yep
Cool, See you at $22k in a few weeks when price reaches the 350dma x 2 of the Golden Ratio Multiplier. pic.twitter.com/pI84kJwmhh
â Philip Swift (@PositiveCrypto) November 16, 2020
$20,000 incoming -,A new wave of media coverage â A pop to $28,000 â A pause, possibly
â Then higher #Bitcoin
â Max Keiser (@maxkeiser) November 17, 2020
I bought more $BTC last night at 15800. Itâs going to 20k and the. To 65 k. The network effect has taken over. I see tons of new buyers and there is very little supply. Itâs an easier trade here that at 11k. So YES, buy it.
â Mike Novogratz (@novogratz) November 17, 2020
$20,000 #Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap â
The digital version of #gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is rising.. pic.twitter.com/m4JSt5G09Nâ Mike McGlone (@mikemcglone11) November 16, 2020
The Primary Hurdle Toward $50,000 Bitcoin Is the $20,000 All-Time High
https://cointelegraph.com/news/bitcoin-analyst-gives-4-reasons-why-btc-price-will-hit-22-000-next
https://cointelegraph.com/news/bitcoin-will-hit-65k-mike-novogratz-tells-actress-maisie-williams
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STOCK-TO-FLOW CREATOR HAS âNO DOUBTâ BITCOIN WILL HIT 0K-8K âBEFOREâ DECEMBER 2021!!
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PlanB, the creator of the stock-to-flow (S2F) model, reiterated on Nov. 8 that the Bitcoin price is well on its way to hit $100,000.
The pseudonymous analyst expects the dominant cryptocurrency to achieve the $100,000 to $288,000 range by December 2021.
Bitcoin would have to increase by around 545% from the current price to surpass $100,000.
At that price point, the market capitalization of BTC would near $2 trillion, or roughly the same as Apple, the worldâs most valuable company.Â
The S2F model attempts to predict the long-term price trend of Bitcoin by evaluating its supply.
Namely, it takes into consideration its fixed supply and the block reward halving, which reduces the rate at which new BTC is produced or âmined.â
The theory behind S2F is that as the supply of Bitcoin decreases over time and inflation would continuously rise.
These two factors could theoretically amplify the uptrend of the top cryptocurrency.
Based on Bitcoinâs supply curve and the halving cycles, S2F puts the expected valuation of BTC at $5.5 trillion.
The model predicts Bitcoin to reach a multi-trillion-dollar valuation before 2024.
The model reads:
âS2FX model estimates a market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020â2024) of $5.5T. This translates into a BTC price (given 19M BTC in 2020â2024) of $288K.â
In a tweet, PlanB said he remains confident the S2F modelâs $100,000 price projection for Bitcoin would materialize.
2021 is particularly important for Bitcoin because it follows a highly anticipated block reward halving in May 2020.
Six months ago, Bitcoin experienced its third halving in history.
This decreased the number of BTC mined each day by half, which would cause the circulating supply to drop over time.
The analyst wrote:
âPeople ask if I still believe in my model. To be clear: I have no doubt whatsoever that bitcoin S2FX is correct and bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!â
So far, following the halving, Bitcoin has increased from $8,700 to $15,500, recording a 78.1% rally in six months.
On-chain analysts like Woobull.com creator Willy Woo say that the total supply of Bitcoin is lower than often thought.
While the total supply of Bitcoin is 21 million, there is a high number of BTC that is lost or dormant that can no longer be accessed.
Woo said:
âTotal supply of Bitcoin will not be 21m, itâll be around 17m as many coins died in the fight for being acknowledged as something valuable in the early days. This means 0.002 BTC per person on the planet.â
As such, PlanB expects Bitcoin to follow the S2F model as the available supply and the amount of new Bitcoin mined decreases over time.Â
In other trending Bitcoin News today:
âWHY THIS ANALYST THINKS BITCOIN HITS $17,000 IN THE NEXT WEEKâ
Analysts are optimistic that Bitcoin could resume its ascent, potentially towards $17,000 or even $18,000 as the trends of this market remain positive:
âI think thereâs a decent chance bitcoin breaches $17k and even into $18k in the next 10 days (next weekly candle). We are due for a decent mid timeframe blowoff and chill for a bit and wicking into the ATH cluster just feels so rightâŠ
The path to $18k or ATH wick seems the path of least resistance. Nobody wants to sell until then and everybody is buying dips. Easiest way to create market balance is to do it quickly then let the market chop around a bit.â
The aforementioned trader isnât the only one calling for Bitcoin to hit $17,000 in the near future.
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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:
People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG
â PlanB (@100trillionUSD) November 8, 2020
Why This Analyst Thinks Bitcoin Hits $17,000 in the Next Week
https://cointelegraph.com/news/s2f-creator-has-no-doubt-bitcoin-will-hit-100k-by-december-2021
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Eerily Accurate Crypto Analyst Says Bitcoin (BTC) Breakout to 0,000 Will Begin on This Date
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
One of the few cryptocurrency analysts to correctly call the 2019 Bitcoin pullback says he believes BTC is gearing up to finally exit a long-term bear trend that began about two-and-a-half years ago.
In a series of charts, Dave the Wave highlights Bitcoinâs movements inside a symmetrical triangle dating back to late 2017.
Since the Bitcoin price failed to break above $10,300 earlier this week, Dave now expects BTC to reach a low of about $6,500 in September before it finally breaks out of the trend for good by April 15th of next year.
Dave is closely followed in crypto circles because he was one of the few strategists who told traders back in June of 2019, when Bitcoin was trading for $13,000, to prepare for a significant correction.
He predicted BTC would fall to a low-$6,000 range by the end of the year. BTC ended up hitting a bottom of around $6,400 in December.
Dave now believes the crypto king is preparing for a long-term parabolic rally to $150,000, hitting a peak sometime in the year 2023.
The analyst says Bitcoin is poised to benefit from fiscal stimulus and increased money printing, but he believes predictions that hyperinflation is coming are overblown.
Instead, he expects the dollar to remain relatively strong compared to other currencies as an overall fiat devaluation occurs.
âMany think hyperinflation, based on simple monetary theory, is the key that unlocks the mysteries of the monetary universe. In reality, itâs an ideology for lazy minds.â
In other trending Bitcoin News today:
BITCOIN IS PREPPED TO SURGE TO $14,000 AS PRICE CONSOLIDATES AT CRUCIAL LEVEL
For the third time in the past year, Bitcoin saw a strong rejection at the $10,500 price point on June 2nd.
Per a previous report from Bitcoinist published June 2nd, the leading cryptocurrency tanked by $1,500 in literally three minutes on BitMEX.
At its worse, the reversal meant that Bitcoin was down to $8,600 from the $10,450 highs, which resulted in over $100 million worth of long positions being liquidated on BitMEX alone.
Many immediately took the move as a harrowing sign as to whatsâ to come for the cryptocurrency market: $10,500 marked the highs of the rally in October and the one that ended this February.
Each time, prices failed to pass BTC, then crashes followed.
But even in the face of the rejection, analysts are still optimistic about what comes next for Bitcoin.
Since the $2,000 drop, Bitcoin has jumped $1,200 higher.
The asset now trades at $9,800, consolidating in the $9,000s just days on from the crash that occurred.Â
BTC remains below the $10,450 high, but the bounce back near the local highs have been welcomed.
One trader shared the image below on June 5th, writing that the asset is poised to see âmore downside.â
What is being depicted is Bitcoinâs macro price action but inversed; inversion is a tactic often used by traders to âeliminate biasâ from their analysis.
According to the traderâs analysis of the inversed chart, Bitcoin is prepared to rally back to the 2019 yearly highs of $14,000 in the coming weeks.
The same trader further indicated his bullish sentiment in another analysis. He said that as long as Bitcoin holds $9,600, which he marked as a notable level on a short-term perspective, he sees âno reason why 11k would not be next.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:
$BTC Renko SimilaritiesDivergence present into ~18% correction.The correction began a fresh run for ~80% gains.Current PA is looking very similar in structure to the last significant BTC run.If I throw Cubans bands on the similarities continue.
Let this scare or excite. pic.twitter.com/ImXro3TqOf
â Cold Blooded Shiller (@ColdBloodShill) June 2, 2020
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