BOBBY LEE: 0K Bitcoin Price ‘Flippening’ of Gold Will Come by 2028! | Trillion BTC Market Cap

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The crypto analyst who accurately predicted last years Bitcoin retracement has updated his roadmap of the BTC ascent to $100,000 as the king cryptocurrency approaches the apex of a long-term triangle.

Trader Dave the Wave tells his 33,000 Twitter followers that Bitcoin is poised for a big move as the top cryptocurrency shows signs of compression.

“Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do. Shaping up nicely for the move going forward.”

Based on Dave’s chart, Bitcoin is losing steam as seen on the slumping logarithmic moving average convergence and divergence (LMACD).

The indicator is designed to reveal changes in an asset’s trend, strength and momentum.

In addition, the king coin’s volatility looks ready to hit its all-time lows as the Bollinger bands width (BBW) indicator approaches a value of 0.50.

The low BBW reading suggests that BTC’s trading range is at its narrowest point in four years. Bitcoin’s tightening trading range and dying momentum suggest that a violent move is on the horizon as the dominant cryptocurrency approaches the end of a multi-year triangle.

Dave says that once volatility returns, he expects Bitcoin to go through a significant correction.

Once the pullback is over, Dave sees Bitcoin eventually breaking out of the long-term triangle.

He says Bitcoin will recover its all-time high of $20,000 next year before igniting a manic phase that would send the top cryptocurrency above $100,000 before 2022 expires.

In other trending Bitcoin News today:

BITCOIN TO SOON CONFIRM BUY SIGNAL THAT PRECEDED 2017’S 2,000% RALLY

According to a crypto analyst, Bitcoin’s macro Moving Average Convergence Divergence (MACD) is about to cross green on the monthly time frame.

Should this take place, it will mark a large win for the bull case. For instance, prior to the rally from under $1,000 to $20,000 in late-2016/2017, BTC formed this signal.

And prior to the rally to $14,000 in 2019, this signal was formed.

The potential cross in the MACD isn’t the only signal that is supporting the long-term bull case.

This past Sunday, digital asset manager Charles Edwards noted that his indicator, the Hash Ribbons, printed a “buy” signal:

“Bitcoin Hash Ribbons “Buy” signal just confirmed. The post-Halving signal is particularly special.  It will probably be a very long time until the next occurs. …and so the great bull run begins.”

This is important as the signal has preceded parabolic rallies in the price of BTC.

Edwards found in an analysis published last year that the gain-to-peak of the indicator’s “buy” signals comes out to an average of 5,520%.

The fundamentals are equally as bullish, analysts have said.

As reported by Bitcoinist previously, Nexo’s Antoni Trenchev argued that Bitcoin is still poised to hit $50,000 by the end of 2020.

He attributed this strong sentiment to the presence of money printing by central banks and the block reward halving:

“So yes, I’m sticking to my prediction of 50K until the end of the year. I appreciate that it is a bold statement, but the fundamentals are there and the momentum is shifting there as well,”

Trenchev concluded to the Bloomberg journalist.

This optimism has been echoed by Adam Back, the chief executive of Blockstream.

The long-time industry executive and programmer told Bloomberg in a July interview that BTC will hit $300,000 in the next five years.

Like Trenchev, Back also mentioned money printing, but added that bonds and real estate likely have low risk-return ratios.

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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:

Momentum and volatility flat-lining as price coils within the business end of the triangle. A picture of diminishing returns/ price discovery if there ever was one, and based on what price is actually doing, not what it ‘ought’ to do.

Shaping up nicely for the move going forward pic.twitter.com/prrdi576XD

— dave the wave (@davthewave) July 15, 2020

https://bitcoinist.com/bitcoin-confirm-buy-signal-preceded-2017/

Ripple XRP cryptocurrency is stuck at $0.29 – but this does not prevent its supporters from dreaming big with the upcoming Ripple Swell Conference scheduled to take place November 7th-8th.

XRP price predictions shared in todays show range from $0.50 to $8.00 and everywhere in-between.

The asset, which peaked above $3 and never returned to those valuations, is facing renewed enthusiasm ahead of the annual Ripple Swell 2019 conference.

In other Crypto news today:

Peter Schiff blames ‘Whales’ after Bitcoin gains 30% against Gold.

He tweeted,

“Bitcoin hodlers won’t sell as they believe they’ll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don’t lose faith and cash out so that they can cash in!”

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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.

News Resources From Today’s Show:

I predict $0.50 to $1.00 between December and March. If that is due to utility and more channels have opened with the same results as MG, and if they share great results at SWELL, between the news and the connection but utility and price, that is when the FOMO starts.

— Agent (@TheAgentSmithV3) October 20, 2019

If you’re looking for price increases, most likely end of Q1 2020. More major announcements to come in Q4. SWELL will be the best.

— Rachel Lee (@LeeR912) October 2, 2019

XRP Price Predictions Ahead of Ripple Swell Conference

https://cointelegraph.com/news/peter-schiff-blames-whales-after-bitcoin-gains-30-against-gold

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Two years ago, venture capitalist and noted Bitcoin investor Tim Draper publicly stated that BTC will hit $250,000 by 2022.

Yet, as Bitcoin continues to gain interest from investors, Draper revealed to Cointelegraph during an interview that a $250,000 price prediction may have been conservative:

“I think it’ll certainly hit that. But a lot of people are thinking that $250,000 was a little too conservative.” 

Draper also discussed the impact of the COVID-19 pandemic on the blockchain space, noting that tokenization will play a major role in solving problems related to global shipping and real estate.

Additionally, Draper shared his thoughts on decentralized finance, or DeFi, saying he wants to “‘DeFi’ the venture capitalist business” moving forward.

CT: Right now, the world is in the midst of a crisis. Which technological breakthrough will help humanity come out stronger on the other end? 

TD: Tokenization will advance. We’re seeing it in real estate, global shipping and in everything where items of value need to be moved between parties.

Now, these items can be transferred over the internet, which is so useful for industries like real estate and global shipping.

In the case of real estate, you could buy a piece of my house, or you could tokenize my real estate and own a piece of that property without having to buy the whole thing. 

Tokenization and shipping is also a great way for people to own containers to keep track of the entire Iot.

I think we’re going to see some extraordinary breakthroughs in shipping and also with any kind of logistic use cases.

CT: And are you still sticking with your prediction that Bitcoin will hit $250,000 by 2022?

TD: Yes, Bitcoin will hit $250,000 by 2022 or the beginning of 2023. That $250,000 is really based on a 5% market share of currencies.

I think that’s easily achievable, especially as more women start using Bitcoin, since they control 80% of retail spending. It’s really interesting that there used to be one in 15 Bitcoin wallets that women held, and now it’s advancing.

As women start using those wallets, they’ll realize this is much easier. I moved as much of my money as I felt fair into Bitcoin. And so, yes, I think it’ll certainly hit that, but a lot of people are thinking that was a little too conservative.

In other trending Bitcoin News today:

Bitcoin Price Hits $14,000 Exactly 12 Years After Whitepaper Released

The price of Bitcoin has surpassed the critical $14,000 mark, the highest level since January 2018.

The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008.

Since then, the world’s biggest cryptocurrency has seen remarkable and exponential growth across various areas.

Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory.

An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid.

The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle.

Every four years, Bitcoin undergoes a block reward halving, which cuts the rate at which new BTC is mined by half.

This happens because 21 million BTC can ever exist on the blockchain.

As BTC approaches its fixed supply, the rate of production gets slowed.

A halving historically has had a positive impact on the price of Bitcoin.

It reduces the pace a new BTC supply is introduced to the market.

Consequently, every four years, there is less BTC flowing into the exchange 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:

Compared to the past ($1, $10, $100, $1K, $10K), we will see a short insane mania fomo peak above $100K. It’s impossible to say how high exactly. Anything between $120K and $220K I guess, based on these previous tops.https://t.co/LxYLwAJM7o

— Bit Harington (@bitharington) October 31, 2020

$15,000 by Monday #Bitcoin

— Max Keiser (@maxkeiser) October 30, 2020

Tim Draper wants to “DeFi venture capitalism,” also noting that Bitcoin will hit $250 thousand in the coming years thanks to consumer adoption. https://t.co/lrb1zJhM1s

— Cointelegraph (@Cointelegraph) October 30, 2020

https://www.wsj.com/articles/cash-is-trash-so-lets-bet-425-million-on-bitcoin-11604070071

https://cointelegraph.com/news/tim-draper-seeks-to-defi-the-venture-capital-business-with-bitcoin

https://cointelegraph.com/news/bitcoin-price-hits-14-000-exactly-12-years-after-whitepaper-released