BITCOIN WILL RISE TO $4 MILLION PER BTC IN NEXT 18-24 MONTHS, SAYS GLOBAL EQUITIES RESEARCH!!!!!

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Bitcoin billionaire Tyler Winklevoss says the Bitcoin price will ‘at least’ 45x from here surging to $585,000 per BTC in his recent tweet on Crypto Twitter:

“JP Morgan analysts think Bitcoin could triple in value and challenge gold. While I think its at least like a 45x from here, not a 3x, at least we can agree that bitcoin is going up. It’s hard to understand why anyone wouldn’t own BTC by now.”

The Bitcoin bull was referencing the following Fortune article entitled:

“For years J.P. Morgan was skeptical of Bitcoin. Now the bank’s analysts say its value could triple, challenging gold”

A team of analysts at J.P. Morgan’s Global Markets Strategy group are touting Bitcoin’s emergence as an alternative to gold among millennials, suggesting a “doubling or tripling” in the price of the cryptocurrency if current trends continue.

The prediction, which came in a research note published on Friday, is remarkable given the bank’s onetime skepticism toward Bitcoin, which included CEO Jamie Dimon calling it a “fraud” in 2017 and saying he would fire anyone trading it for being “stupid.”

J.P. Morgan’s bullish stance is driven in part by PayPal’s recent decision to offer Bitcoin to its customers and Square’s recent move to add $50 million of the cryptocurrency to its balance sheet.

Another major factor for its position, though, is the demographic trend in which younger generations are choosing Bitcoin over gold.

“The older cohorts prefer gold, while the younger cohorts prefer Bitcoin as an ‘alternative’ currency,” says the research note.

The analysts go on to observe that, if this trend continues, there could be a challenge to gold in the long term—with important price implications for Bitcoin.

“Even a modest crowding out of gold as an ‘alternative’ currency over the longer term would imply doubling or tripling of the Bitcoin price from here,” the note states.

Bitcoin is currently trading at around $13,000.

That falls well short of its all-time high of nearly $20,000, which occurred during the crypto bubble of late 2017, after which Bitcoin fell to around $3,400 the following year.

The current price run-up has been more stable, however, with Bitcoin staying above the $10,000 mark for an unprecedented three-month stretch. Millennials’ embrace of Bitcoin has been underway for a while.

Late last year, a Charles Schwab survey found that shares of GBTC, from Grayscale—a company that holds Bitcoin in trust—were more popular among the cohort than famous names like Netflix and Disney.

Meanwhile, Grayscale has been fanning the trend with a national TV campaign called “Drop Gold.”

In other trending Bitcoin News today:

Bitcoin Just Posted Biggest Buy Signal in More Than Two Years, Says Top Crypto Analyst Nicholas Merten – Here’s What’s Next

DataDash founder and crypto analyst Nicholas Merten says Bitcoin just flashed its biggest buy signal in over 24 months.

“What we need to do is set a close, and I would like to see a substantial close above the yearly high close here which is $13,880. If we can get $14,000, $15,000 for Bitcoin just by the end of the year, going through October, November, up until December…

That’s all we need to see folks. It is a clear telltale sign in price in the simplest form of analysis. Again, simplicity wins out. It is the simplest key sign here that we’re setting up for a substantial move in the 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:

JP Morgan analysts think #Bitcoin could triple in value and challenge gold. While I think its at least like a 45x from here, not a 3x, at least we can agree that bitcoin is going up 🚀. It’s hard to understand why anyone wouldn’t own BTC by now. https://t.co/FurucyrVMV

— Tyler Winklevoss (@tyler) October 26, 2020

https://fortune.com/2020/10/26/jp-morgan-chase-bitcoin-predictions-analyst-jpm-cryptocurrency/

https://dailyhodl.com/2020/10/27/bitcoin-just-posted-biggest-buy-signal-in-more-than-two-years-says-top-crypto-analyst-nicholas-merten/

https://www.btctimes.com/news/can-october-record-bitcoins-highest-monthly-close

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Evaluating past Bitcoin price performance, a popular cryptocurrency proponent noted that the BTC price could “moon” to $430,000 by late 2021.

Although history is not a precise indicator for future price developments, a popular cryptocurrency analyst made a compelling forecast showing that if Bitcoin repeats its 2016-2017 bull run with the same percentage increases, it will end up at $430,000 in 2021.

The primary cryptocurrency has built a reputation for beating unfavorable odds in the past.

Its volatility is well-known among investors with some historical price surges and drops. 

According to the popular cryptocurrency analyst CryptoBull, if Bitcoin is to repeat its performance over the past bull run, it could end up at $430,000.

He based his views on previous multi-year cycles.

BTC reached a top in late 2013 at above $1,000 before it entered a bearish market for the next two and a half years.

It finally managed to break above the long resistance in mid-2016 and, in doing so, began one of the most impressive bull runs in its relatively short history.

In the next year and a half, Bitcoin went from $420 to an all-time high of nearly $20,000 in December 2017.

This equaled a surge of approximately 4,600%.

After the parabolic price increase of 2017/2018, BTC went again into a negative spiral for about two and a half years.

CryptoBull pointed out that it broke out of the resistance after it conquered $9,400 a few weeks ago.

As such, since the two scenarios appear identical so far, another similar increase of 4,600% will take the asset to a record of $430,000.

Per CryptoBull’s chart, BTC could reach $430,000 in late 2021.

Perhaps this sounds a bit far-fetched to most now since Bitcoin has just entered the low five-figure price range.

Additionally, with over 18,5 million bitcoins mined by then, this would skyrocket the asset’s total market cap to $7,955,000,000,000 (almost $8 trillion).

This will place Bitcoin very close to the current gold’s market cap of over $10 trillion.

In other trending Bitcoin news today:

Best Weekly Close Since $20K? 5 BTC Price Factors to Watch This Week

Looming Bitcoin futures gaps and mainstream interest are providing the perfect environment for another week of volatility.

Bitcoin (BTC) begins a new week at over $11,000 after a wild weekend saw the market crash $1,200 in minutes — will the chaos continue?

Here’s five factors that could easily impact Bitcoin price action over the coming days:

1. Bitcoin futures gaps keep building

More than usual, this week looks set to be big in terms of Bitcoin-specific market phenomena. 

2. Warnings over US dollar’s downfall

The situation is precarious — Bitcoin’s rise over the past few weeks has come as the dollar sees a protracted fall.

At the same time, investors have rushed into safe havens such as gold and silver.

3. Gold on track for $2,000

Gold sentiment may act as a precursor to any changes in Bitcoin’s progress.

The precious metal remains at all-time highs in USD terms, on track to pass the psychologically significant $2,000 mark.

4. Consumer BTC interest is palpable

“People are trying to jump on momentum.

The entire crypto market is a microcosm of everything happening in stocks,” analyst Mati Greenspan summarized to the Wall Street Journal.

5. Altcoins aren’t done yet

Bitcoin is still tussling with altcoins in terms of profitability, with Ether continuing to crush long-term resistance on multiple timeframes.

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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/goldman-sachs-gold-will-hit-2-300-by-2022-what-about-bitcoin

https://cointelegraph.com/news/best-weekly-close-since-20k-5-btc-price-factors-to-watch-this-week

https://cryptopotato.com/if-history-repeats-bitcoin-price-at-430000-during-next-bull-run/

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DataDash founder and crypto analyst Nicholas Merten says he believes Bitcoin (BTC) is now firmly in the early stages of a long-term bull cycle.

In a new video, Merten says that the Bitcoin correction, which started in mid-August, is now over as BTC has managed to stay above $10,000.

“I really think we’ve set in the relative bottom here, the higher low here, as we’ve been holding on this line of support and as we’ve clearly broken away from the line of resistance.”

With the local bottom in place, Merten now believes that Bitcoin will make its slow upward journey, during which the leading cryptocurrency will take its time to convert key resistances into supports.

According to Merten’s chart, Bitcoin is poised to print a new all-time high of at least $30,000 before the end of 2021.

“We’re going to break above our relative highs here from August. Come back up here. Retest $14,000. Get rejected. Make this range here support (roughly $12,000). This previous range of resistance, this is going to become new support. 

We’re going to kick back up. Break above those June 2019 highs at $14,000. We’re going to come up here, test these slightly lower highs from the all-time high peak at around $17,000. Come down. Make $14,000 to $15,000 our new support.

Come up here towards around $20,000. Get rejected. Come down to $17,000 and then we’re going to slowly break above to $23,000, $22,000 and then start to make $20,000 support. Then after that, the sky’s the limit. The cycle has started.”

In other trending Bitcoin News today:

Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017

Bitcoin has undergone a strong rally over the past few months. From the March lows, the cryptocurrency has gained over 200%, rallying from $3,500 to $11,700 now.

While already impressive, the coin is about to form a pivotal buying signal that may suggest more upside is likely.

The signal in question last formed when the cryptocurrency was trading under $1,000 at the end of 2016, prior to the 2017 exponential rally.

According to data from Crypto Quant shared by a crypto-asset analyst, Bitcoin is about to form a long-term buying signal.

The signal is the Miners Reserve, which tracks the BTC reserves of entities tied to mining pools.

According to the chart, the indicator is poised to undergo a positive crossover, with the short-term moving average crossing below the long-term moving average.

This signal is important as it was last seen at the end of 2016, prior to Bitcoin’s 2,000% rally in 2017.

This signal also preceded two other macro rallies that brought BTC exponentially higher.

The same trader pointed to a swath of other on-chain trends showing that the long-term trend is favoring bulls.

Fundamental trends favor Bitcoin bulls, analysts say.

Macro investor Raoul Pal recently said in an interview with publication Stansberry Research that  Bitcoin is likely to reach a price of $1 million in the coming five years.

He thinks that investment by institutional players will drive the cryptocurrency this far to the upside:

“Just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It’s an enormous wall of money — just the pipes aren’t there to allow people to do it yet, and that’s coming. But it’s on everybody’s radar, and there’s a lot of smart people working on it.”

Pal has said that he thinks Bitcoin may be the best investment in existence right now due to macro trends.

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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 $btcusd #BTC

OK, so @cryptoquant_com is doing a closed beta and I’m lucky enough to be able to test it.

Let’s make a Big thread right here to connect Onchain Analysis & Technical Analysis

Is $btc in a bull market or what ?

1/x

— Coiner-Yadox (@Yodaskk) October 17, 2020

Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017

https://cointelegraph.com/news/bitcoin-price-nears-final-hurdle-at-12k-before-bull-market-euphoria