CATHIE WOOD’S $500K BITCOIN CALL IS ‘ALREADY HAPPENING’ – HOW TO RIDE THIS WAVE TO HALF A MILLION!!

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Will the Bitcoin price ‘Moon’ if there is a war with Iran?

Iran-based sellers on peer-to-peer trading platform LocalBitcoins are currently asking for around 1 billion Iranian rials or over $24,000 per Bitcoin (BTC), based on the official exchange rate from the country’s central bank. 

Founder of crypto analytics outlet Messari, Ryan Selkis wrote:

“Bitcoin is trading at nearly $24,000 in the USD equivalent of Iranian Rials on LocalBitcoins today. It’s unlikely those purchases are paying for the Iranian military’s response. Instead, it might be innocent (and desperate) Iranians looking for a way out of the coming chaos.”

While the BTC price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year.

In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019. On Friday morning, Nexo co-founder Antoni Trenchev told Bloomberg’s Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.

“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” said Trenchev.

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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://www.forbes.com/sites/ktorpey/2020/01/03/why-the-bitcoin-price-could-hit-50000-in-2020/#658439eb2f37

https://www.forbes.com/sites/investor/2020/01/03/bitcoin-war-iran/#5c6cb96f343b

https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate

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Global Macro Investor founder and chief executive Raoul Pal is betting big on Bitcoin.

Pal is offering an update on his BTC portfolio and declares more than half is now dedicated exclusively to Bitcoin.

In May, Pal said Bitcoin appears to be entering one of the best technical setups of all time and could be on a long-term trajectory to $1 million.

“Bitcoin Porn and The Perfect Set Up… BTC Chart 1 – The Perfect Wedge. If you use classic charting techniques, it gives you a price target of around $40,000…but

Chart 2 – The Perfect Wedge on a Log Chart Well, that gives you a price object for this run potentially (key word – potentially) of $1m.

Chart 3 – The Perfect Regression Channel That gives a 1 standard deviation move to $400,000 and a 2 standard potential to $1m (potential).”

Pal is also publicly pondering just how far he should go in his wager that Bitcoin will be one of the most lucrative assets of the next decade.

“Is it possible to get irresponsibly longer or is irresponsibly long the max? Asking for a friend… Bitcoin.”

The high-profile investor says his portfolio allocation is high risk and not something everyone should pursue.

“We are all 100% aware of the downside risk in a 60 vol asset… this is not a trade for a great grandmother.”

The Global Macro Investor executive says he’s accepted the possibility that Bitcoin might plummet all the way down to zero.

To further clarify his apparently BTC allocation, Pal explains that there’s a method behind the madness.

“I just want to be clear, with regards to being irresponsibly long bitcoin: I don’t use leverage. I fully expect to have to deal with a 50% drawdown and, I’m ok with it. I look at my allocation versus liquid assets and not my house etc. I am lucky have an income stream, which is key.”

In other trending Bitcoin News Today:

Yearn Finance’s YFI Reclaims $40K after Coinbase Listing

Yearn Finance’s governance token, YFI, closed above $40,000 during the early trading session on Monday. The YFI/USD exchange rate established an intraday high at circa $42,425 following a 13.74 percent rally.

The strong upside move appeared despite a lackluster bullish trend elsewhere, with top cryptocurrencies Bitcoin and Ethereum trading under the weight of sellers.

YFI too experienced a sell-off near its session top.

Traders booked their intraday profits, causing the cryptocurrency to plunge lower by 8.50 percent during the European session.

Nevertheless, a support level lurking around $38,990 protected the price from falling anywhere lower.

YFI/USD reclaimed some of its intraday profits after establishing its session support level.

A continuation in uptrend expects to lead the pair towards its all-time high near $44,003, with a primary bullish target lurking near $50,311.

The latest winning round the Yearn Finance market followed YFI’s listing on Coinbase Pro.

The US-based crypto exchange announced earlier today that it is now allowing traders to deposit their YFI tokens into its platform.

From Tuesday, trading of the DeFi cryptocurrency will commence.

Excerpts from their announcement:

“Once a sufficient supply of YFI is established on the platform, trading on our YFI-USD order book will launch in four phases, transfer-only, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”

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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:

Chart 2 – The Perfect Wedge on a Log Chart

Well, that gives you a price object for this run potentially (key word – potentially) of $1m. pic.twitter.com/ZDJXsrbbVN

— Raoul Pal (@RaoulGMI) May 8, 2020

Chart 3 – The Perfect Regression Channel

That gives a 1 standard deviation move to $400,000 and a 2 standard potential to $1m (potential). pic.twitter.com/YV1SUOKWjn

— Raoul Pal (@RaoulGMI) May 8, 2020

S2F version 1 update. This is the 2019 time series model on historical BTC data only (no gold, silver, diamonds, real estate data used). You see the jump in model value at the halving (white line) and corresponding drop in S2F multiple / model error (white dots). Time to go up. pic.twitter.com/qIjiXfbmCx

— PlanB (@100trillionUSD) September 14, 2020

Yearn Finance’s YFI Reclaims $40K after Coinbase Listing

https://dailyhodl.com/2020/09/14/macro-strategist-raoul-pal-moves-more-than-50-of-portfolio-to-bitcoin-in-big-bet-on-future-of-crypto/

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“The Bitcoin price will skyrocket to $100,000 before 2023 comes to a close”, says the pseudonymous Crypto strategist who accurately forecasted the BTC price collapse from $11,600 to $6,400 in 2019.

Trader Dave the Wave is now marking the moment when he believes Bitcoin (BTC) will break out and begin its ascent to $100,000.

Dave tells his 37,000 Twitter followers that Bitcoin is slowly grinding up in an effort to take out its all-time high around $20,000.

“And the standard use of a technical pattern, known as the breakout of an ascending triangle, gives a target of 100K.”

Based on Dave’s chart, crypto enthusiasts would have to wait until the end of 2021 before Bitcoin catches fire and erupts.

The trader predicts that Bitcoin will skyrocket to $100,000 before 2023 comes to a close.

The crypto analyst also highlights that the slow climb will set the stage for a massive BTC explosion.

However, Dave acknowledges that just like any other prediction, his analysis can be wrong and BTC can surge to $100,000 ahead of 2023.

The trader shares a conversation that he had with PlanB, the first analyst to apply the controversial stock-to-flow model to Bitcoin.

In the thread, PlanB asked whether Dave’s model would be proven incorrect should Bitcoin climb above $100,000 before December 2021.

Says Dave….

“It would certainly be in extremis. The log growth curve could accommodate a brief spike to that price but price carrying on higher would invalidate/falsify the curve.”

In other trending Bitcoin News today:

World’s largest sovereign wealth fund indirectly holds almost 600 Bitcoin

Mainstream finance giants may hold more Bitcoin than you think.

The Norwegian Government Pension Fund, also known as the Oil Fund, has over $1 trillion in assets, including 1.4% of all global stocks and shares.

It is considered the world’s largest sovereign wealth fund.

According to Arcane Research’s report on Sept. 19, the fund also owns almost 600 Bitcoin (BTC) through its investment holdings.

Arcane Research analysis data shows that the Norwegian oil fund has 577.6 BTC through its investment in business intelligence firm MicroStrategy.

This puts the company’s portfolio in BTC at around $6.3 million.

The Norwegian Government Pension Fund has a 1.51% stake in MicroStrategy.

Michael Saylor, MicroStrategy founder, said in a recent tweet that the company owns 38,250 BTC.   

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”

In addition, two other major investment advisory companies, BlackRock Fund Advisors and the Vanguard Group, have a 15.24% stake (5829.30 BTC) and a share of 11.72% (4482.90 BTC), respectively. 

BlackRock currently is the biggest shareholder in MicroStrategy, indirectly holding BTC.

The Vanguard Group is an American investment advisor with about $6.2 trillion in global assets under management (AUM) as of January 31, 2020.

It is the largest mutual funds provider and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock’s iShares.

BlackRock Fund Advisors, on the other hand, has $7.3 trillion in AUM. 

MicroStrategy has made a lot of headlines in the past few days as it announced a bold plan to invest in Bitcoin.

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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:

When considering network dominance in the crypto industry, I find it clarifying to separate crypto-asset networks like #Bitcoin from crypto-application networks like Ethereum & stablecoins. Bitcoin dominance has advanced from a low of 71.05% on December 20, 2017 to 93.57% today. pic.twitter.com/03cbWVyoLY

— Michael Saylor (@michael_saylor) September 20, 2020

https://cointelegraph.com/news/bitcoin-price-hits-1-week-low-as-us-dollar-currency-index-aims-higher

https://cointelegraph.com/news/worlds-largest-sovereign-wealth-fund-indirectly-holds-almost-600-bitcoin