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Dan Held, the director of growth marketing at crypto exchange Kraken, says that Bitcoin could surge by over 500% if BTC follows the cycle of its 2013 bull run.
In a new interview on Altcoin Daily, Held compares the current state of the cryptocurrency market to what happened in 2013. He also shares his price prediction based on Bitcoin potentially mimicking its 2013 cycle.
âIf we repeat 2013, we could see Bitcoin hitting between $300,000-$400,000 Bitcoin. Now. history usually rhymes, it doesnât repeat itself, so itâs probably not going to be exactly that, but if it did, that would be my best price point.
So my price point, I would say that I think itâs going to land probably between [$100,000 and $300,000]. But if we match 2013 again, it could be [$300,000 to $400,000].â
In other trending Bitcoin News today: Bitcoin bullish cross on weekly chart paints $225K BTC price target if history repeats!
The weekly MACD delivered six-month gains of 450% the last time it flipped into bullish territory.
The last time that a bullish crossover occurred, BTC/USD saw a 5.5X price increase â from $11,500 in October 2020 to all-time highs of $64,500 just six months later.
Should history repeat itself, Bitcoin could end up at over $220,000 by the end of the year or in early 2022.
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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/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k
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BITCOIN WILL HIT $500K AND MONEY STORED IN BTC WILL RUN THE FASTEST, OVERTAKING GOLD!
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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:
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 BTC will run the fastest, overtaking goldâŠ
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
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 âBitcoin has closed above the previous monthly all-time high,â 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:
âEvery time Bitcoin has closed above the previous monthly all-time high â a 700% to 1000% uptrend has followed. November could be the first monthly close that we see breaking the previous high and historically thatâs been a very bullish sign for the crypto marketâ
In other trending Bitcoin News today:
âBitcoin Price Climbing to $20,000 and Volatility Spike in November Very Likely: Kraken Reportâ
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:
âIran Becomes First Country to Embrace Bitcoin as Medium of Exchangeâ
Max Keiser, host of the Keiser Report recently tweeted:
âIran is winning Global Hash War. America is being left behind. Very little time left for US to get going otherwise US economy will get REKTâ
The Central Bank of Iran (CBI) announced Thursday that it would be utilizing legally mined cryptocurrency to pay for imports.Â
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 nationâs power plants.
They are the first nation to declare the currency an official medium of exchange.Â
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.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:
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 REKThttps://t.co/CPgTxiR1IJ
â Max Keiser (@maxkeiser) November 11, 2020
Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k
https://finance.yahoo.com/news/world-second-biggest-bank-issue-092348073.html
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,000 BITCOIN EXTENDED TARGET TRIGGERED!! YEAR-END GOLD AND BTC PRICE PREDICTIONS!!
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Crypto analyst spotted this strong Bitcoin bullish harmonic structure in an advanced form.
The pattern is pointing towards a $32,000 BTC price as the next bull run target.
Yesterday, Bitcoin price reclaimed its critical $12,000 resistance before suddenly dropping by $500 in seconds to fill futures gap.
A bounce off $11,500 saves investors from serious pain but $12,000 remains a problematic level to flip to support.
Data from Cointelegraph Markets and Coin360 showed BTC/USD nosedive 4% during Monday trading, bouncing off $11,500 and since returning to $11,700.
In doing so, Bitcoin neatly filled the latest gap in CME Groupâs Bitcoin futures markets, which lay just below $11,700.Â
A classic move, Cointelegraph predicted on the day that markets would likely attempt to go lower on short timeframes to fill the gap, in line with standard behavior.
The event caused a dramatic spike in liquidations on derivatives giant BitMEX, data from monitoring resource Skew confirms.
For Cointelegraph Markets analyst MichaĂ«l van de Poppe, the sudden dip suggested that Bitcoin was returning to the pattern of behavior seen in recent months.Â
âSmaller timeframe chart explaining what just happened. Essentially, weâre back into the ranging gameplan,â he told Twitter followers.Â
âRangingâ within a certain price corridor has become a feature of BTC/USD in 2020, with recent gains upending a protracted period, which slowly narrowed to point â a process known as compression.
Going forward, lower levels could see a retest, with significant support just above $10,000 still apt to form the price floor, Van de Poppe thinks.
âLarger timeframe; still expecting such a scenario,â he continued.Â
âIf we break $12K however, I assume weâll see $13k.â
Attention will thus now focus on bullsâ ability to cement $12,000 as a support zone, something which has yet to occur on any meaningful level for Bitcoin.Â
Nonetheless, the latest weekly close marked the highest since January 2018 and the initial fall from Bitcoinâs all-time highs of $20,000.
In other trending Bitcoin News today:
âCapital Flight out of Asia Is Taking Bitcoin Expressâ Says Max Keiser
Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes.
Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that rising tensions in Asia are one of factors for Bitcoinâs rally up to $12,000.
In an Aug. 10Â tweet, Keiser argued that Bitcoin is a solid method to move big amounts of money abroad while crossing borders.
According to Keiser, a number of people in Asia are using Bitcoin to move their money out of the continent as geopolitical tensions risk affecting markets.
âCapital flight out of Asia taking the Bitcoin express,â Keiser wrote. Comparing Bitcoin to gold â one of the worldâs most popular safe-haven assets, Keiser argued that Bitcoin is one of the few ways to move a fortune abroad. Keiser said, âYou canât take it with you, unless itâs Bitcoin â then you can take IT ALL with you. (Something near impossible with gold).â
The news comes amid reports of Chinese citizens illegally crossing into the United States with $28,000 worth of gold bars.
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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:
#Bitcoin up as tensions rise in Asia
Capital flight out of Asia taking the #Bitcoin express
You canât take it with you, unless itâs Bitcoin â then you can take IT ALL with you
(Something near impossible with Gold)
â Max Keiser (@maxkeiser) August 10, 2020
$BTC #BITCOINSmaller timeframe chart explaining what just happened. Essentially, we’re back in to the ranging gameplan.
Larger timeframe; still expecting such a scenario. If we break $12K however, I assume we’ll see $13k. pic.twitter.com/vjnJzJfVzC
â Crypto MichaĂ«l (@CryptoMichNL) August 10, 2020
https://www.tradingview.com/chart/XBTUSD/CtL1HlXn-Bitcoin-to-32k/
https://news.bitcoin.com/year-end-gold-and-bitcoin-price-predictions-from-regular-everyday-people/
https://cointelegraph.com/news/bitcoin-price-suddenly-drops-by-500-in-seconds-to-fill-futures-gap
https://cointelegraph.com/news/capital-flight-out-of-asia-is-taking-bitcoin-express-says-max-keiser
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This Bitcoin Price Metric Is Up 940% Since BTC ,000 High | Chainlink (LINK) Nears ATH
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Over the past few weeks, investors have begun to doubt the veracity of the assertion that âBTC is on the verge of its next bull run.â
While there are reasons to believe this is the case, an analyst has asserted that per one key metric, the Bitcoin price has ânever been more bullish.â
The past few weeks have undoubtedly been weak for the cryptocurrency market; the BTC price has collapsed from the $10,500 high to a price as low as $8,400 established just this weekend, while the hash rate of Bitcoin has stagnated.
But, according to the latest data from Blockchain.com, miners are once again allocating many resources to the security of the worldâs largest cryptocurrency.
Case in point: the hash rate of the Bitcoin network reached a new all-time high of 136 exahashes (or 136,000,000 terahashes) per second just two days ago â nearly three times higher than it was one year ago.
Commenting on the significance of this, crypto price tracking app Blockfolio wrote:
âAs Wall Street experiences the worst week since the 2008 financial crisis, Bitcoinâs hash rate has just reached a new all-time high. 136,264,908 tera hashes per second.â
This optimism has been echoed by analyst RookieXBT, who noted on Tuesday that the hash rate is almost â~940% from where it was when Bitcoin (BTC) was at an all-time highâ of $20,000.
This, RookieXBT wrote, is a sign that âBitcoin has never been more bullish.â Indeed, growth in the hash rate of the network suggests at least two things: 1) Bitcoin miners are confident in the long-term success of the cryptocurrency (especially in terms of price) and allocate more resources to the security of the network; and 2) the technology of mining machines is being improved on, resulting in the increase in hash rate.
Chainlink (LINK) Nears $5 All-Time High Unfazed by Bitcoin Price Slump
Chainlinkâs (LINK) 27.48% gain over the past four days shows that the altcoin continues to function as an outlier when compared against the recent performance of other cryptocurrencies.
This strong recovery from the swing low at $3.30 to $4.79 has LINK now approaching its previous all-time high at $4.86.Â
Unlike Bitcoin (BTC), LINK trading volume has shown that traders are excitedly buying each dip and the candlesticks of the past 3 days clearly show that a strong reversal has occurred.Â
In the daily timeframe, the moving average convergence divergence (MACD) shows a bull cross between the MACD and signal line and the histogram has recently popped above 0, a rather compelling move considering that the altcoin has already gained 26.57% since March 2.
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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/chainlink-link-nears-5-all-time-high-unfazed-by-bitcoin-price-slump
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