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Bitcoin Price 15% Jump to ,500 on the Table | Cryptocurrency to Replace Fiat Currencies by 2030

By admin — 3 years ago

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Since the Bitcoin price tapped $6,500 in late-November, analysts have been wondering if the bottom is really in.

The BTC price bounced by 20% from $6,500, hitting $7,850 just a week after that.

Now, Bitcoin (BTC) is currently trading at just above $7,500, seemingly trying to establish a market trend for the coming week.

While some say that Bitcoin’s inability to move past the resistance in the high-$7,000s is decisively bearish, an analyst has said that the odds are leaning in the favor of bulls.

Why BTC Could Jump 15%: Popular trader Mr. Chief (or Halo Crypto) recently noted on Crypto Twitter that the cryptocurrency ball is finally entering the court of the bulls.

He noted that the inverse chart of Bitcoin has shown that the cryptocurrency has broken below (meaning above) a key trend line that has been in place for over six weeks.

The asset is also situated in a descending channel (actually an ascending channel) that implies a move to $8,500 is “definitely on the table.”

A move to $8,500 would mark a 15% rally from current price levels. Also Adaptive Capital’s Willy Woo, a popular on-chain metrics analyst, noted on Dec. 7 that a proprietary indicator his fund uses is implying that the usage of the Bitcoin network is implying that bulls will soon gain the upper hand again:

“On-chain momentum is crossing into bullish [territory]… The bottom is most likely in, any [move] lower will be just a wick in the macro view.”

In other Crypto news today,

Deutsche Bank Research: Crypto to Replace Fiat Currencies by 2030 By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank.

In the “Imagine 2030” report, Deutsche Bank strategist Jim Reid raised awareness of the challenges the existing fiat system has encountered in recent years, specifically with the emergence of cryptocurrencies.

Reid stipulated that people’s heightened demand for dematerialized means of payment and anonymity could drive more individuals to digital currencies.

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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:

On-chain momentum is crossing into bullish. Prep for halvening front running here on in. Can’t say what this indicator is, as it’s proprietary to @AdaptiveFund, but it tracks investor momentum. The bottom is mostly likely in, anything lower will be just a wick in the macro view. pic.twitter.com/WqiPRpweUv

— Willy Woo (@woonomic) December 7, 2019

15% Jump to $8,500 on the Table for Bitcoin Price; Analyst Explains Why

https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

Bitcoin Price ‘Likely’ Bottomed in .7K BitMEX Crash Says Tone Vays | BTC Reclaims .3K

By admin — 3 years ago

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The Bitcoin price likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%.

In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, the BTC price should bottom at 20% of its 2019 highs — $2,800.

Vays on $2.8K: “I don’t think it’s likely anymore”

This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences.

After March 12, when Bitcoin (BTC) bounced off 15-month lows of around $3,700, Vays now thinks that Bitcoin will not return to put in lower levels.

“I don’t think it’s likely anymore,” he summarized.

“Because I think this incident, this event earlier this month was close enough $2,800 that I’m no longer expecting $2,800.”

Since the bounce, Bitcoin has broadly maintained higher support, with the recovery reaching almost 90% in the subsequent two weeks.

Continuing, Vays suggested that in fact, $2,800 would have appeared during the dive and that it was only the crashing of derivatives giant BitMEX which prevented it.

“If BitMEX did not go down, we probably would have $2,800 and maybe even lower,” he said.

“It’s very possible that if BitMEX didn’t crash, the selling would have just accelerated, but right now, I’m under the assumption that the low is in.”

Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above

The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend.

Those were short-lived, however, with Bitcoin regaining lost ground within hours.

Now, hopes were high that price action would remain more bullish, allowing Bitcoin to close a new futures gap left at the end of trading on Friday.

The gap lies between around $6,300 and the closing price of Friday’s CME futures session at $6,680.

As Cointelegraph reported, Bitcoin has very often returned to trade at levels left behind by futures markets — before its price volatility surged in mid-March, just one gap remained, much higher at $11,800.

For Cointelegraph Markets analyst Michaël van de Poppe, however, there was overall still a bearish trend in Bitcoin, despite the upside potential posed by the gap.

“The first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first,” he tweeted on Monday.

“This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.”

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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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 #BITCOINThe first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first.This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.

Still bear pic.twitter.com/bn0BHHRDHd

— Crypto Michaël (@CryptoMichNL) March 30, 2020

https://cointelegraph.com/news/bitcoin-price-reclaims-6k-as-traders-eye-new-btc-futures-gap-above

https://cointelegraph.com/news/bitcoin-price-likely-bottomed-in-37k-bitmex-crash-says-tone-vays

Adam Back Says Bitcoin Targeting 0,000 With or Without Institutional Investors | 3,000% BTC Rally

By admin — 3 years ago

➡️ Cryptocurrency Masterclass: http://class.cryptonewsalerts.net

Blockstream CEO Adam Back says he believes retail investors alone can push the Bitcoin price to $300,000 within the next five years.

This equates to a Bitcoin bull rally of around 3,050% from the current BTC price.

Back attributed this high prediction to the influx of investors hedging with Bitcoin, be that Paul Tudor Jones or retail investors like you or I.

He added that with “a lot of money printing” going on in the world, BTC’s use case makes even more sense. Corroborating the $300,000 prediction is the famous Stock to Flow Model from analyst “PlanB,” a pseudonymous quantitative analyst that works as an institutional investor in Europe.

His analysis found that the value of BTC can be tied to its level of scarcity.

The more scarce Bitcoin is, the higher its fair value should be. PlanB plotted this relationship and found that by abstracting time from the model, he can fit a regression that has an R squared value of over 99%.

The regression suggests that Bitcoin will reach a price of $288,000 within the next five or so years.

Although Bitcoin rallying to $300,000 would be accepted by any crypto investor, it may be too low of a prediction.

There are analysts seriously considering that the leading cryptocurrency will reach well past $300,000 in the coming years due to macro trends.

Raoul Pal is one of these analysts.

The former head of Goldman Sachs’ hedge fund sales division and a noted macro analyst recently went on the “Keiser Report” on RT to discuss this.

During the interview, host Max Keiser asked Pal if he thinks Bitcoin has the potential to rival gold’s market capitalization of $9 trillion in the future.

“If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process,” the current CEO of Real Vision said.

A $10 trillion market capitalization corresponds with more than $500,000 per coin.

Pal elaborated on his thesis in the April edition of Global Macro Investor — the research business he runs with a business partner.

Bitcoin is likely to erupt higher in the coming years because due to the ongoing recession, there is a risk “of the failure of our very system of money” or at least a collapse of the “current financial architecture.”

To him, cryptocurrencies such as Bitcoin are a way out of that system and may act as the predicate on which the next system is built upon.

Pal said on Bitcoin in particular:

“It is an entire trusted, verified, secure, financial and accounting system of digital value. […] It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.”

In other trending Bitcoin News today:

Massive Bitcoin Plunge Nothing More Than Traders Being Traders, OKCoin Exec Says

Bitcoin’s recent price dive may have been nothing more than the result of standard trading activities.

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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:

https://cointelegraph.com/news/massive-bitcoin-plunge-nothing-more-than-traders-being-traders-okcoin-exec-says

INVESTMENT FIRM PREDICTS BITCOIN TRILLION MARKET!! XRP WILL RISE 12,900% IN NEXT BTC BULL CYCLE!!

By admin — 3 years ago

➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net

An investment firm that predicted Tesla’s meteoric ascent is extremely bullish on Bitcoin and says the BTC market cap could go as high as $5 trillion.

Also in today’s show, Credible Crypto predicts the Ripple XRP price will rise 12,900% in the next Bitcoin bull cycle.

In a comprehensive report, New York-based thematic investment firm ARK Invest sees massive growth potential for Bitcoin over the next few years despite its already impressive run that has defied expectations.

“Our analysis suggests Bitcoin is early on its path to monetization, with substantial appreciation potential. In our view, Bitcoin’s $200 billion market capitalization – or network value – will scale more than an order of magnitude to the trillions during the next decade.”

Specifically, ARK Invest points out that the adoption of Bitcoin as a global settlement network, as a protection against asset seizure, as digital gold, or as a catalyst for demonetization in emerging markets has the potential to fuel the growth of the crypto asset’s market cap.

Despite their high evaluation of the crypto asset, ARK Invest points out the several risks that threaten Bitcoin’s growth potential.

For one, ARK Invest says security breaches and institutional mismanagement have cost investors millions of dollars with no legal recourse.

Other risks are regulatory uncertainty and “over-institutionalization”, which the company says could cause a monopoly in Bitcoin transactions and present an “existential risk to bitcoin’s value proposition.”

Although risks are present, ARK Invest highlights the potential of BTC to print massive gains within a decade.

“Bitcoin offers one of the most compelling risk-reward profiles among assets, as our analysis suggests it should scale from roughly $200 billion today to $1-5 trillion network capitalization during the next five to ten years. In our view, capital allocators must consider the opportunity cost that will be associated with ignoring bitcoin as a new asset class.”

In other trending Bitcoin News today:

Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle

Closely-followed trader and crypto strategist Credible Crypto sees XRP meteorically rising by over 12,900% in the next Bitcoin boom cycle.

In a new tweet, the crypto analyst tells his 68,000 followers that Ripple’s native token has the potential to massively increase one’s net worth in the coming years.

“Keep it real. XRP price IS NOT ‘pre-determined.’ XRP IS NOT ‘backed by gold.’ XRP WILL NOT reach the prices BTC has ($10,000+). XRP will NOT replace the dollar. But it doesn’t need to do ANY of these things to make you and me life-changing money over the next 3 years.”

When asked to provide his price prediction for the fourth-largest cryptocurrency, Credible explains why he believes XRP can skyrocket between $20 – $30 before the current bull market expires.

“…it’s gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their XRP for other projects. The ones holding now won’t sell soon.”

Not all analysts share Credible’s long-term bullish attitude towards XRP. Widely-followed veteran trader Peter Brandt told his crew of 375,000 to be cautious about investing in Ripple’s native asset.

“Don’t place your faith in XRP.”

Brand notes that Ripple’s ownership of more than half of the total supply of XRP is a potential liability.

He believes the token has more downside potential as it continues to underperform relative to other major cap coins.

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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:

Keep it real.$XRP price IS NOT “pre-determined.” $XRP IS NOT “backed by gold”. $XRP WILL NOT reach the prices $BTC has ($10,000+).$XRP will NOT replace the dollar.

But it doesn’t need to do ANY of these things to make you and me life changing money over the next 3 years.

— Credible Crypto (@CredibleCrypto) October 2, 2020

It won’t need as much as it seems it would. Many people think the same. But it’s gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their $XRP for other projects. The ones holding now won’t sell soon. https://t.co/jelsS4rTdc

— Credible Crypto (@CredibleCrypto) October 2, 2020

Don’t know about the long long term, but looking for $20-$30 over the course of this next bull run (2-3 years).

— Credible Crypto (@CredibleCrypto) October 2, 2020

https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/White_Papers/ARKinvest_091729_Whitepaper_Bitcoin_II_An%20Investment.pdf?hsCtaTracking=71be7529-9a39-404e-97b3-04fd4ccf80ec%7C07365ce1-0ed3-4835-9c3c-ac33c030cd70

https://dailyhodl.com/2020/10/05/investment-firm-that-called-teslas-meteoric-rise-says-bitcoin-targeting-5000000000000-market-cap/

Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle

https://cointelegraph.com/news/trump-price-dots-and-covid-19-5-things-to-watch-in-bitcoin-this-week

BITCOIN HAS BEEN A MONSTER FROM BITCOIN HAS BEEN A MONSTER FROM $1 AND NOW HEADING TO $400K SAYS MAX KEISER! BTC APOCALYPSE SURVIVAL AND NOW HEADING TO 0K SAYS MAX KEISER! BTC APOCALYPSE SURVIVAL

By admin — 3 years ago

➡️ REPLAY – Teeka Tiwari’s ‘Set For Life’ Summit: Register here: http://teeka.cryptonewsalerts.net

“Bitcoin has been a monster from $1 to $11,000 and is now heading to $400,000”, says BTC pioneer Max Keiser, RT host of the Keiser Report.

When asked about a timeline for his bullish $400K Bitcoin price prediction, Max responded,

“It all depends upon how fast the dollar collapses, BTC has no top.”

Max says Bitcoin has no top because the US dollar has no bottom and when it comes to investing…

“You want hard money, something they can’t print.”

In other trending Bitcoin News today:

Apocalypse Survival Requires 1 BTC…

Says Joe Rogan Guest Celebrity and podcaster Adam Curry described the importance of Bitcoin to podcaster and comedian Joe Rogan.

He posited the asset’s importance amid an internet-based world which thrives on personal data sales, banking activities, and centralized control.

“The apocalypse is coming, and you’re gonna need a Bitcoin — at least one,” Curry said in a Sept. 8 interview with Rogan.

“Are you a Bitcoin salesman, Adam Curry?” Rogan responded, put off at first by the comment.

“I was very anti-Bitcoin, until I sold a s***load of them at like $900,” Curry said said, noting he acquired a stack of the asset in its early days. “I got them for nothing,” he said, adding:

“People just gave them to me in the beginning and I denied it.”

He then referenced the industry’s progress over the last decade, including mention of altcoins.

Rogan responded, opening an age-old can-of worms. He asked Curry why BTC remains in the number one go-to position among thousands of other crypto assets, wondering if another asset will overtake the asset’s spotlight.

“Ten years of data have shown that Bitcoin really is the only one that you can trust,” Curry said, referring to the asset’s resistance against manipulation and its trail-blazing technical makeup.

Much talk of a flippening — a digital asset overtaking Bitcoin’s market cap — has come and gone over the years, but no asset has yet achieved such a feat.

In other Crypto news today:

BITCOIN CLOSING ABOVE THIS LEVEL COULD TRIGGER A MOVE BACK ABOVE $11,000

Bitcoin has flirted with a recovery ever since it hit $9,800 late last week.

The leading cryptocurrency currently trades at $10,250, but traded at both $9,900 and $10,400 over the past few days.

A crypto analyst believes that the cryptocurrency closing above $10,450 could trigger a recovery to $11,200. $11,200 is 9.2% above the current price and 7.1% above the validation point of this bullish theory.

“No candle has closed below 10.100 in 7 days, good work of the Spartans. Now bulls need to close above to 10.450 to “confirm” a up move to 11.2k.”

This trader isn’t the first to have assigned importance to the resistance in the $10,450 region.

A historically accurate analyst thinks that Bitcoin moving above $10,500 could trigger a textbook Wyckoff Accumulation pattern.

That pattern, should it play out, will take BTC back into the $11,000-12,000 range as the above analyst also suggested.

Analysts still think that macroeconomic trends favor Bitcoin’s growth in the longer run.

Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, recently wrote on the matter of BTC’s price action:

“Gold at $1,900, Bitcoin $10,000 Return to Decisive Support Zone – Some overdue mean reversion in the stock market is pressuring most assets, but we expect gold and Bitcoin to come out ahead in most scenarios. Declining equity prices encourage more monetary and fiscal stimulus…”

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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:

BOOMERS had it easy. Plenty of jobs-low cost real estate-rising stock market. MILLENNIALS have it hard. 9/11, 2008 real estate crash-now Covid-19. Good news. Millennials tech savvy. Boomers not. Bitcoin-Block chain-Digital currencies give Millennials head start into the future.

— therealkiyosaki (@theRealKiyosaki) September 9, 2020

#Gold at $1,900, #Bitcoin $10,000 Return to Decisive Support Zone – Some overdue mean reversion in the stock market is pressuring most assets, but we expect gold and Bitcoin to come out ahead in most scenarios. Declining equity prices encourage more monetary and fiscal stimulus.. pic.twitter.com/8dkJ2vdkdg

— Mike McGlone (@mikemcglone11) September 9, 2020

Bitcoin Closing Above This Level Could Trigger a Move Back Above $11,000

TWITTER CEO: BITCOIN IS STILL THE MOST VIABLE INTERNET-NATIVE CURRENCY!! BTC PRICE PREDICTION!!

By admin — 3 years ago

➡️ REPLAY – Teeka Tiwari’s ‘Set For Life’ Summit: Register here: http://teeka.cryptonewsalerts.net

The world of Bitcoin and Cryptocurrency moves at a whirlwind pace but the Twitter / Square CEO Jack Dorsey remains committed to BTC.

In an interview with Reuters on Sept. 10, Dorsey, who also founded the mobile-payment platform Square, said he believes Bitcoin’s potential still outshines later developments:

“I think the internet warrants a […] native currency and […] Bitcoin is probably the best manifestation of that thus far. I can’t see that changing given all the people who want the same thing and build it for that potential.”

Dorsey connected BTC’s founding principles with the cooperative and decentralized ethos that he considers to be the driving spirit behind the web:

“The internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.”

Dorsey lauded the fact that “anyone with a great idea” who wants to be part of Bitcoin can join the community — they “don’t have to be part of a company,” he said.

Dorsey appeared committed to both Bitcoin and the internet in an idealized form — free from the specters of oligopoly, the excesses of corporate and government surveillance, and the stubborn asymmetries of power and capital that the advocates of decentralization must necessarily wrestle with.

Consistent with this belief in the possibility for grassroots control over the cryptocurrency’s — and the internet’s — future direction, Dorsey told reporters that it’s important to focus on improving users’ experience of Bitcoin in order to foster its widespread adoption.

In other trending Bitcoin News today:

Bitcoin Price Prediction: BTC Crucial Liftoff to $12,200 – Discovering On-Chain Metrics

The flagship cryptocurrency is currently stuck in consolidation.

The sluggish price movement comes after recovery from the recent dips under $10,000.

On the upside, BTC is limited under $10,400.

Meanwhile, the Bollinger Band highlights that ongoing consolidation is nearing an end.

As the Bollinger Bands squeeze, volatility continues to build.

Therefore, BTC could be heading into a period of high volatility and drastic price movement, but in which direction would be the breakout?

According to Timothy Peterson, CAIA manager at Cane Island Alternative Advisors, every time Bitcoin’s “30-day return hits this lower threshold (we are very close now), it is usually followed by 30-day gains of 20 – 40%.”

In other trending Crypto News today:

CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin

According to popular Bitcoin bull Anthony Pompliano, he just convinced “Jim Cramer to buy Bitcoin.”

The details of the interview are not out yet, but Pompliano remarked in his replies that the financial analyst and investor “understands the benefit of Bitcoin better than most.”

“Just convinced Jim Cramer to buy Bitcoin. Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner”

Cramer’s comments come a year after he was openly hesitant to buy Bitcoin. Responding to a follower that asked if he thinks it’s logical to have 60% of his wealth in stocks and 40% in BTC, Cramer wrote:

“Mad Money into bitcoin? Hmmm.. not top of mind. but then again, it is YOUR mad money so you must do what you think is right.”

These comments, though, also come after he stated that Bitcoin could reach $1 million in 2017.

He purportedly said on Squawk on the Street,” another CNBC show, that the cryptocurrency had room to rally exponentially to the upside because of its decentralized nature.

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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:

Just convinced @jimcramer to buy Bitcoin.

Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner 🔥

— Pomp 🌪 (@APompliano) September 10, 2020

CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-prediction-btc-crucial-liftoff-to-12-200-discovering-on-chain-metrics-202009110717

https://cointelegraph.com/news/jack-dorsey-still-thinks-bitcoin-is-the-strongest-contender-for-an-internet-native-currency

Bitcoin Price K ‘Within Weeks’? Recovery Mimics 2013 700% Bull Run | BTC Will Shatter 0K

By admin — 3 years ago

➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net

Bitcoin (BTC) is looking like it will hit $75,000 — and that could happen “within weeks,” one analyst has found.

Uploading a fresh BTC/USD price chart to Twitter on June 7, Cane Island Alternative Advisors’ Timothy Peterson unearthed an uncanny similarity to Bitcoin in 2013.

Tracking the Bitcoin price recovery from its lows of $3,600 in mid-March, Peterson noted that its recovery almost exactly tracked price action from seven years ago.

The result, he argued, could keep up the copycat move: BTC topped out at $1,300 in 2013, and a similar 700% bull run at today’s prices would give a target of $75,000.

“The 2020 bitcoin recovery has tracked the 2013a recovery almost perfectly. Are we weeks away from $75,000?”

While such a spike seems unlikely, Bitcoin is already exhibiting strong signs that it is in recovery mode from lows that will never reappear.

Specifically, miner activity and associated data have mimicked December 2018, when Bitcoin bounced out of a year-long bear market at $3,100.

Nonetheless, comparing today’s Bitcoin market with that of 2013 is all but impossible.

At the time, Mt. Gox was the only major exchange, itself imploding to cause a massive price crash.

Many argue that Mt. Gox was responsible for the run to $1,300.

In other trending Bitcoin News today:

Bitcoin (BTC) Will Shatter $520,000 According to New Stock-to-Flow Model – Here’s When It Would Happen

A new twist on the Bitcoin stock-to-flow model (S2F) suggests the crypto king will blow past $520,000 – but it may take a while.

A pseudonymous quantitative analyst named QuantMario says PlanB’s popular S2F ratio, which divides the amount of BTC in circulation by the amount of Bitcoin mined per year, is overly bullish.

“After the fifth halving in about eight years from now, the original S2F model predicts the Bitcoin market capitalization to be higher than the value of all the property in the world: equities, real estate, fiat money, gold, etc. Sounds impossible? Right.”

Crypt∞li, an editor at the crypto exchange startup SAFEX, says the new model, which shows BTC will make a slow and steady march to about $520,000 over the next two decades, places more realistic expectations on miner profitability and the overall use of electricity on the network.

“The S2F model’s output basically demands a 10x price increase from one cycle to the next cycle. If a constant profitability of miners is assumed (equilibrium of price and miner adoption), then the mining effort has to quintuple every four years – the combination of a tenfold increase of price and a halving of the block reward results in a five-fold increase of reward in fiat currency every four years.”

To address these issues, the adjusted S2F model predicts a significantly slower pace of growth for BTC.

In contrast, PlanB’s model predicts Bitcoin will hit $1 million by 2028.

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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:

https://cointelegraph.com/news/bitcoin-billionaires-movie-to-tell-winklevoss-bros-crypto-story

https://medium.com/@QuantMario/the-lgs-s2f-bitcoin-price-formula-751d0aac06af

https://medium.com/@crypto.oli/bitcoin-long-term-equilibrium-of-price-and-miner-adoption-cd0931ab1d4c

https://cointelegraph.com/news/bitcoin-price-75k-within-weeks-recovery-mimics-2013-700-bull-run

BITCOIN IS 'STILL ON TRACK' TARGETING 8K STOCK-TO-FLOW PRICE LIKE CLOCKWORK!! K BTC NEXT?!!

By admin — 3 years ago

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With Bitcoin closing the month of October at $13,816, this signals the highest monthly close for BTC since December of 2017.

October’s monthly close also signals the highest red dot close to date via the Stock-to-flow model, a clear indication that this controversial Bitcoin price prediction model is right on track ‘still’ targeting $288K by 2024.

Bitcoin briefly spiked above $14,000 again, this time perhaps on news from the US Presidential elections.

The altcoins have erased most of yesterday’s losses, and the market capitalization has added about $10 billion.

Bitcoin broke above the coveted $14,000 mark on Saturday for the first time since January 2018.

Since then, though, the asset has primarily struggled with maintaining its high price tag.

In fact, BTC even dipped below $13,300 on two occasions in the following days.

It started recovering yesterday when it jumped above $13,500 and stayed above it for most of the past 24 hours.

Just a few hours ago, the primary cryptocurrency headed higher once more.

With a few decisive candles, Bitcoin surged to $14,050 (on Bitstamp) before retracing to its current level – $13,800.

Interestingly, the price increase coincided with surfacing reports that the current US President Donald Trump has become the betting favorite to win the 2020 Presidential elections.

Nevertheless, popular TV host Max Keiser recently highlighted that despite who’s the US President following the elections, Bitcoin will emerge as the ultimate winner.

In other trending Bitcoin News today:

“$17K Next? Watch These 3 Key BTC Price Levels”

Bitcoin (BTC) has been on a tear and there’s no escaping it.

But the majority of high-cap altcoins are seemingly suffering at the hands of this bull run, leading to the question: have we had our altseason already?

Is it over or is there more to come?

Bitcoin has been eating up multi-year resistance levels like Pacman on an amphetamine-induced rampage lately, smashing through $11,300, then $12,400 then $13,100 before being rejected around the $14,000 level.

After $14,400 there isn’t much in the way of resistance until $17K before a new all-time high can be printed for the king of cryptos.

But the question is can Bitcoin run out of steam?

In other trending BTC News today:

“Bitcoin Bull Cynthia Lummis Wins US Senate Seat”

Cynthia Lummis, the Republican Party candidate for Wyoming, “publicly said” on the night of November 3 “that she wants to defend [crypto] against federal encroachment,” per a tweet from Avanti Bank & Trust CEO Caitlin Long, a Wall Street veteran and fellow crypto advocate.

Lummis is known to be a long-term bitcoin enthusiast and said she made her first purchase in 2013, in the days when one could buy BTC 1 for around $300.

Lummis has previously served in Congress, and recently told the Wyoming Blockchain Stampede in a video interview, “During my time in Congress, I first learned about bitcoin. I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply. […] Knowing that there are only going to be 21 million bitcoin makes it an attractive store of value.”

This last point, she stated, was important as the USD’s status as the world’s de facto reserve currency is now coming under threat.

“Bitcoin, to me, has shown great promise and may rise as a viable alternative store of value to the US dollar, both on the institutional level and the personal level. That potentiality is something we must at least acknowledge in our conversations about the economic future of our country.”

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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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:

Price of #Bitcoin at the last 3 US presidential elections: 2012: $102016: $7002020: $14,0002024: ?

Where do you think the $BTC price will be in 2024 at this time? My prediction is $288K! 😎🚀

— Crypto News Alerts (@CryptoNewsYes) November 4, 2020

SENATOR LUMMIS…YESSS!!!🤠 She is likely to be one of the most powerful US senators, given how divided the new senate appears to be. She LOVES what #Wyoming did in #crypto—publicly said tonight that she wants to defend it against federal encroachment. 🙏Congrats Sen Lummis!🚀 pic.twitter.com/FVI7sBcB2t

— Caitlin Long 🔑 (@CaitlinLong_) November 4, 2020

#Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply pic.twitter.com/w742J7bXfC

— Mike McGlone (@mikemcglone11) November 4, 2020

https://cryptonews.com/news/bitcoin-bull-cynthia-lummis-wins-us-senate-seat-8197.htm

https://cryptopotato.com/bitcoin-pumped-above-14k-as-trump-becomes-betting-favorite-to-win-elections-market-watch/

https://cointelegraph.com/news/can-bitcoin-hit-17k-next-watch-these-3-key-btc-price-levels

https://cointelegraph.com/news/bitcoin-is-targeting-288k-stock-to-flow-price-like-clockwork-planb

Bitcoin Price Indicator Shows Bearish Mood Strongest Since February | BTC News Today

By admin — 3 years ago

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Bitcoin price is facing its strongest selling pressure since February and has potential to drop below recent lows near $7,750.

The BTC price fell from $8,326 to $7,935 in 60 minutes, confirming a downside break.

In other BTC news today we take a look at PlanB’s tweet on Crypto Twitter regarding the upcoming Bitcoin halving set to take place in May, which is just 6 more months away.

Are Altcoins ready to explode?!

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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:

Bitcoin Price Indicator Shows Bearish Mood Strongest Since February

We are at about 6 months before May 2020 #bitcoin halving.

In 2012 btc jumped from $5 to $12 (2.3x) in those 6 months before the halving. In 2016 btc jumped from $350 to $650 (1.7x). pic.twitter.com/DKSQBOO2TD

— Plan₿ (@100trillionUSD) October 16, 2019

Correct, it is not priced in.

In my article, I simply analyse the effect that the Halving has had on Bitcoin’s price prior to and after each of its Halvings to datehttps://t.co/4StGraQAaQ

— Rekt Capital (@rektcapital) October 16, 2019

Key Google Metric: Bitcoin Price May Explode Into 0K Parabolic Rally | BTC Death Spiral Buzz Kill

By admin — 3 years ago

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Google Trends Suggests Bitcoin Price to Soon Explode

Since Bitcoin (BTC) investors got a taste of parabolic price action in early 2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more.

According to a Google Trends analysis, another parabolic rally is about to form in the Cryptocurrency market again.

Considering historical rallies, this next bull market could bring Bitcoin above $100,000, some analysts have suggested. Cryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, for the search term “Buy Bitcoin” have recently hit a seven-month high – the highest since June 2019.

In other Crypto news today:

A popular crypto strategist, who says Bitcoin will likely hit $50,000 to $100,000 by 2021 is analyzing the risk of a “death spiral” that could thwart his prediction.

The anonymous analyst known as PlanB is pondering whether the upcoming halving – which will slash the amount of BTC miners earn for processing transactions in half – will convince miners to switch off their rigs en masse.

The scenario could, in theory, start a so-called miner death spiral that increases Bitcoin confirmation times, lowers confidence in the network, and drags down the price of the leading cryptocurrency.

PlanB says he believes the risk of a death spiral is “effectively zero” due to a built-in feature on the Bitcoin network that automatically adjusts how much computing power is required to process transactions.

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

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:

新年快乐 The year of the rat starts this weekend. Time for #Bitcoin volatility and volumes to nose dive.

— Arthur Hayes (@CryptoHayes) January 23, 2020

IMO co-integration between #bitcoin price & stock-to-flow means all network effects march lockstep: Investors, Speculators, Merchants, Consumers, Miners and Developers together … demand & supply, like clockwork! pic.twitter.com/7Ozq2Y9eVd

— PlanB (@100trillionUSD) January 5, 2020

Do you think May 2020 #bitcoin halving of miner reward will cause a mining death spiral or miner capitulation?

— PlanB (@100trillionUSD) January 22, 2020

1/ Googling for “Buy Bitcoin” just reached a 7 months high (Score 9). The long-term upwards trend is undeniable. The last time the score reached a 10 was:Nov ’13 (bull top),May ’17 (price on parabolic run-up),Jun ’19 (medium-term top)

>Feb ’20 (price on parabolic run-up?) pic.twitter.com/tkdXIEvM3Q

— CryptoKea (@CryptoKea) January 20, 2020

Key Google Metric: Bitcoin May Explode Into $100,000 Parabolic Rally

https://bitcoinexchangeguide.com/5-bitcoin-drop-is-nothing-special-during-chinese-new-year-bitmex-ceo-says-time-to-nosedive/

In other Crypto news today,

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Massive Bitcoin Plunge Nothing More Than Traders Being Traders, OKCoin Exec Says

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Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle

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Apocalypse Survival Requires 1 BTC…

BITCOIN CLOSING ABOVE THIS LEVEL COULD TRIGGER A MOVE BACK ABOVE $11,000

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Bitcoin Price Prediction: BTC Crucial Liftoff to $12,200 – Discovering On-Chain Metrics

CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin

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Bitcoin (BTC) Will Shatter $520,000 According to New Stock-to-Flow Model – Here’s When It Would Happen

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“$17K Next? Watch These 3 Key BTC Price Levels”

“Bitcoin Bull Cynthia Lummis Wins US Senate Seat”

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Are Altcoins ready to explode?!

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News Resources From Today’s Show:

Google Trends Suggests Bitcoin Price to Soon Explode

In other Crypto news today:

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