BTC Halving 2020 | Two Years of Upside? Bitcoin Yearly Candles Hint Explosive Price Growth Incoming

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Morgan Creek Digital co-founder and prominent Bitcoin advocate Anthony Pompliano says the BTC price will soar above $400,000 en route to an $8 trillion dollar market cap.

In a new interview with Peter McCormack, the host of the What Bitcoin Did podcast, Pompliano explains why he expects the king crypto will eclipse the market capitalization of gold.

“Here’s what I continue to tell people, name to me a business that was analog and got digitized and the digital version is smaller than the analog version. It doesn’t happen. It’s because digitization brings all kinds of advantages. It’s a market-expanding technology.

There are people [who] would debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 [to] $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.”

To support his argument, Pompliano says Bitcoin is a story of technological evolution akin to internet-powered giants like Airbnb and Uber.

“One day, I believe we will say ‘Bitcoin is the largest currency in the world in terms of market cap and it will have no one controlling it.’”

As for the next two years or so, the Morgan Creek Digital executive is sticking to his prediction that BTC will skyrocket to $100,000 by the end of 2021.

Pompliano says the US government’s monetary policy of printing trillions of dollars in stimulus will be one of the main catalysts that will drive the value of the king coin.

“Now what we see is a world where gold, Bitcoin, real estate are all going to do really well. Because you simply can’t print trillion of dollars of a currency and have no impact on that currency.

We’re literally seeing the exact theoretical impact of quantitative easing become reality. They printed trillions. The dollar got weakened. When the dollar weakens, asset prices all explode.”

In other trending Bitcoin News today:

ANALYST: BITCOIN’S RECENT SURGE LOOKS LIKE THE START OF 2019’S 250% RALLY

According to the trader that predicted Bitcoin’s breakout at the start of 2019, BTC looks structurally similar to the 2018-2019 bear market bottom:

“Can’t believe I didn’t see it before. On the Weekly, classic pattern I call the “Smooth Transfer of Power” A. Bears get weaker as price descends B. Bulls silently buying all along take control C. Re-test of power D. Lift off Compare to the Monthly one, Crypto Winter ’18-’19.”

The trader is saying that should history rhyme, BTC is on the verge of an extended bull run.

The formation of Bitcoin’s candles isn’t the only trend that analysts see as a signal of an impending long-term bull run.

Bitcoin’s “Super Trend” on the weekly chart just printed a bullish candle for the first time since the start of 2019’s rally.

The trader who made this observation first wrote in regards to the chart below:

“The supertrend went green on the weekly. Probably no big deal. It’s not like this indicator has marked major macro bull & bear cycles in the past.”

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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:

Analyst: Bitcoin’s Recent Surge Looks Like the Start of 2019’s 250% Rally

https://cointelegraph.com/news/3-bullish-signs-that-overall-demand-for-bitcoin-is-skyrocketing

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Popular TV host of the Keiser Report and legendary Bitcoin bull Max Keiser predicts that ‘before’ the 2024 US presidential election BTC will be worth trillions and become the world reserve currency.

Max tweeted: 

“Before 2024 US Presidential election: 

1. BTC worth trillions 

2. BTC – world reserve currency 

3. Countries locked in Hash War

4. Most banks will be gone, replaced with Central Bank ‘crypto’

5. Combined political power of BTC billionaires will dominate policy”

Earlier this year, live on the Alex Jones show, Keiser officially raised his Bitcoin price target for the first time in eight years to $400K per BTC.

“I’m raising my official target for the first time in eight years,” Keiser told Jones in a February 17 video interview. 

“I’m raising it to $400,000.” The BTC maximalist proceeded to argue that it is not too late to get into the revolutionary money of the future, and in fact, it’s just the beginning. 

“So this is your new chance to make the bitcoin phenomenon work for you, Alex Jones.” Keiser clarified that the $400K target is based on the value of gold, and called bitcoin “gold 2.0.” 

Then just last month Max upped his Bitcoin target again sharing, “People with zero Bitcoin exposure like Warren Buffett will see their wealth hyperinflate to nothing while Bitcoin’s price skyrockets 40-80x.”

So for Bitcoin to 80X at the time of his prediction, this would put the Bitcoin price at about $880,000.

In other trending Bitcoin News today:

“AFTER $17,150 TURNS INTO SUPPORT, BITCOIN COULD SURGE TOWARD $20,000”

Bitcoin has begun to surge higher again after multiple days of consolidation under $16,000. Hours ago, the leading cryptocurrency moved from the $15,900 resistance it was trading near toward $16,500.

Analysts are not yet convinced it’s clear skies for Bitcoin, though. This comes in spite of some sentiment shared that there is no serious technical resistance from here until $20,000.

Crypto-asset analyst Josh Rager recently shared 2 charts.

The chart depicted on the left shows that Bitcoin interacted with three levels on multiple occasions during the rally of late-2017 and early-2018: $16,173, $16,600, and $17,150.

The chart on the right shows that Bitcoin is currently approaching these technical levels. Considering their historical importance, there is a high likelihood they will act as resistance for the cryptocurrency moving forward. As Rager explained:

“Keep an eye on these key Bitcoin price levels (daily/weekly) from the 2017-2018 highs They could likely reject before moving higher But after $17,149, there isn’t a lot standing in the way before $19,000+.”

Analysts say that Bitcoin will soon hit new all-time highs.

Tyler Winklevoss, CEO of Gemini and a Bitcoin billionaire with his twin brother Cameron, recently stated:

“I do think we will see an all-time-high price for Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run.”

Winklevoss was recently quoted as saying that Bitcoin could hit $500,000 in the years ahead. Such a rally would give the cryptocurrency a higher market capitalization than gold has today.

He thinks that Bitcoin will achieve such a rally due to the immense buying pressure that will take place due to monetary inflation. 

The Winklevoss twin added that the cryptocurrency is fundamentally better than the leading precious metal, which should aid a rally.

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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:

Before 2024 US Presidential election:

1. #BTC worth trillions

2. BTC – world reserve currency 3. Countries locked in Hash War4. Most banks will be gone, replaced with Central Bank ‘crypto’

5. Combined political power of BTC billionaires will dominate policy

— Max Keiser (@maxkeiser) November 13, 2020

$BTCKeep an eye on these key Bitcoin price levels (daily/weekly) from the 2017-2018 highsThey could likely reject before moving higher

But after $17,149, there isn’t a lot standing in the way before $19,000+ pic.twitter.com/8sffFo6byo

— Josh Rager 📈 (@Josh_Rager) November 12, 2020

Bitcoin $20K is imminent. $250K is in range. Long term, $1M has been normalized. $10M is the dream.

But in time you’ll understand, Bitcoin begins at $100M.

— O₿iWan (@ObiWanKenoBit) November 13, 2020

After $17,150 Turns Into Support, Bitcoin Could Surge Toward $20,000

https://cryptopotato.com/warren-buffett-will-see-his-wealth-hyperinflate-while-bitcoin-price-does-40-80x-says-max-keiser/

https://news.bitcoin.com/keiser-bitcoin-price-alex-jones/

https://cointelegraph.com/news/stealth-phase-over-why-wall-street-fomo-will-make-20k-bitcoin-look-cheap

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Bitcoin hitting $300,000 per BTC in just one year’s time is “not out of the question,” popular statistician Willy Woo says.

In a series of tweets on Dec. 1, Woo stated that he has “never been so bullish” on Bitcoin’s prospects for 2021.

Discussing potential Bitcoin price trajectory, he confirmed that he was looking at six figures by December next year.

“My Top Model suggesting $200K per BTC by end of 2021 looks conservative, $300K not out of the question,” one post read.

“The current market on average paid $7456 for their coins. You all are geniuses.”

Woo used his technical Top Cap metric to deliver the forecast. Despite being what his analytics website Woobull calls “experimental,” Top Cap has accurately matched price tops in the past.

Continuing, he eyed the decreasing amount of BTC held on spot exchanges as a sign that bullish price action would be catalyzed in the coming twelve months.

“I’ve never been so bullish for 2021,” he wrote.

“This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.”

Lastly, the dollar gain in Bitcoin’s market cap for each dollar invested this cycle has outpaced the 2013 and 2017 bull runs.

“All pointing to reflexivity increasing; an amplified 2021 bullish feedback loop,” Woo concluded.

Is anyone bearish on 2021?

As Cointelegraph reported, Woo is far from alone in his optimistic outlook for post-2020 Bitcoin.

Sky-high price predictions have come thick and fast over the course of the past two months, with quant analyst PlanB’s $100,000 December 2021 estimate now looking decidedly modest.

Beyond technical circles, familiar figures such as serial investor Mike Novogratz have begun taking price predictions to the mainstream. In the case of Novogratz, he told actress Maisie Williams last month that BTC/USD would head to $20,000 and then to $65,000. Williams subsequently invested.

This week, meanwhile, a giant $590,000 price forecast came courtesy of the Realized Profit/ Loss metric, which has returned to its classic bull run launch position.

In other trending Bitcoin News today:

Bitcoin Moves $500K Around The Globe Every Second, Says Samson Mow

Samson Mow, chief strategy officer at Blockstream, says Bitcoin was never about “transactions per second and coffee,” but about value and a “new financial paradigm.”

Blockstream’s Samson Mow wants to move the conversation away from Bitcoin’s (BTC) performance in transactions per second and toward its role in ushering in “a new financial paradigm,” that is, serving as a permissionless medium for the store and transfer of value.

“Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It’s all about value transacted per second and a new financial paradigm. VTPS not TPS. Nothing comes close to BTC”

Mow’s argument is that “VPTS [value transacted per second] not TPS [transaction per second]” is what really counts. Calculations for the video were reportedly made using on-chain data by the editor of the Blockstream engineering blog, who goes by “Grubles” on Twitter. 

The editor similarly tweeted that “Bitcoin scales just fine. 1 BTC can store an infinite amount of value.”

The video, according to a follow-up tweet from Mow, “was inspired by a stupid XRP marketing video comparing their sh*tcoin’s TPS [transaction per second] to Bitcoin’s.”

Blockchain.com data shows that as of Dec. 1, the total estimated value of transactions on the Bitcoin blockchain was estimated at $4.627 billion. This figure hit $5.15 billion, close to its all-time-high, on Nov. 5.

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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:

Views on 2021 (THREAD):My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.

The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b

— Willy Woo (@woonomic) December 1, 2020

#Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It’s all about value transacted per second and a new financial paradigm. #VTPS not #TPS. Nothing comes close to @BTC. 👑 pic.twitter.com/aXfDauPx9b

— Samson Mow (@Excellion) December 2, 2020

https://cointelegraph.com/news/why-one-analyst-says-bitcoin-is-on-the-cusp-of-busting-through-20k

https://cointelegraph.com/news/bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow

https://cointelegraph.com/news/bitcoin-hitting-200k-by-december-2021-is-now-conservative-willy-woo