‘CLEAR SKIES’ FOR BITCOIN PRICE DISCOVERY! HERE’S WHEN BTC WILL OVERTAKE GOLD AND REAL ESTATE!

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Placeholder Capital partner Chris Burniske says he believes a new Bitcoin bull cycle will bring the BTC price to at least $50,000.

Burniske says the prediction is designed to account for Bitcoin’s historic pattern of posting diminishing returns for each subsequent bull run.

“Why Bitcoin $50,000? As discussed in May 2019, if BTC is half as volatile in this cycle as it was in the last, we would still expect it to cross $50K and $1 trillion in network value. $1 trillion has been a long time coming for this macro-asset.”

If Bitcoin can mount such a rally, Burniske says Ethereum will likely once again outperform BTC, as it did during the previous parabolic crypto cycle in 2017.

If that happens, he expects ETH to surpass $7,500 – a 3,132% increase from today’s price of about $232.

“Meanwhile, to the mainstream ETH will be the new kid on the block – expect a frenzy to go with that realization. Given ETH’s outperformance of BTC over its lifetime (chart below again), not to mention smaller network value and strong on-chain economies, I see every reason for ETH/BTC to surpass ATHs. If BTC goes $50,000+ in the next cycle, and ETH/BTC returns to its former ATH, then expect to see ETH $7,500+.”

Burniske, who is a big fan of the Ethereum-based push to decentralize finance, says he thinks it’s still early days for crypto.

He expects mainstream retail investors to repeatedly jump into the market in a cyclical pattern on the path toward widespread adoption.

“Crypto is still off the radar compared to 2017-style interest, and that type of interest will come again, and again, and again, and… Each cycle with past narratives hardened + new narratives that drive further conversion of users, suppliers, developers, and investors.”

In other trending Bitcoin News today:

As Bitcoin Suddenly Surges 7.82%, Traders Spark Breakout Calls Above $10,500

Bitcoin bounced back on Tuesday after the Federal Reserve announced its plans to purchase corporate bonds to boost the financial markets through the pandemic.

The benchmark cryptocurrency surged by up to 7.82 percent from its Monday low below $9,000.

The move uphill took its price above $9,500, sparking calls towards an extended recovery run towards the $10,000-$10,500 area.

One pseudonymous analyst said earlier Tuesday that Bitcoin’s recovery from below $9,000 is a part of a “re-accumulation” strategy.

He concluded that the cryptocurrency would break above $10,500, a resistance level from June 1, 2020, and February 13, 2020, as the uptrend flourishes.

The analyst explained that bitcoin is testing 10,500 for the third time since February 2020.

Nevertheless, each downside break leads to an accumulation phase that causes Bitcoin to retest the red area, as shown in the chart above.

“We have been sitting under this level and consolidating now for a month,” he added. “Many believe that this sideways consolidation we have been seeing on $BTC for the last month or so is distribution before a larger move back down to 6-7k’s. I personally believe that this is rather re-accumulation before the inevitable break of 10.5k.“

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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:

No I think the lows are in. Here is the way I am counting it. This was shared when BTC was at 5-6k. A running flat for Wave 2 allows for a corrective move up off the lows rather than an impulsive one like most have been looking for. pic.twitter.com/ENxNFAAUlQ

— Credible Crypto (@CredibleCrypto) May 12, 2020

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Amid hopes that Bitcoin will still hit $100,000 this year, Decentrader predicted that it may only be a matter of months before BTC is back on track.

“While we may not rally so hard and fast this time, fundamentally nothing has changed with how Bitcoin works, nothing is broken, we are just experiencing a lot of bad media coverage after a strong rally at the start of the year,” the company concluded.

“So we may well see price make its way back up to the stock to flow line in the coming months. This would mean new all-time highs for BTC before the end of this year, as the Stock to Flow line is currently sitting at $85,000.”

In other trending Bitcoin News today: Tanzania appears to be the latest emerging economy poised to embrace BTC and crypto assets.

On June 14, Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. Hassan emphasized the increasing impact of digital assets on global finance, stating: “We have witnessed the emergence of a new journey through the internet.”

“My call to the Central Bank is that you should start working on that development. The Central Bank should be ready for the changes and not be caught unprepared.”

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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/bitcoin-price-could-hit-85k-in-months-as-indicators-flip-bullish-report

https://cointelegraph.com/news/tanzanian-president-urges-central-bank-to-prepare-for-crypto

https://cointelegraph.com/news/bitcoin-price-moves-toward-40k-as-on-chain-and-technical-analysis-favor-bulls

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BITCOIN PRICE PUMPS 20%, ARE BULLS RUNNING INTO A TRAP?

With the BTC price registering gains of over 20% in the last 24 hours, many holders are getting excited.

But, it seems that the jury is still out on just how positive this latest pump is.

Could the bulls be running into a trap?

Bitcoin analysts can’t agree on whether this latest pump will keep seeing BTC price soar.

Some seasoned traders are celebrating Bitcoin’s decoupling from the stock market while others are calling for caution.

Indeed, throughout its 11-year trajectory, bitcoin price has widely been regarded as uncorrelated with the stock market.

We’re all well-versed in the safe haven narrative and comparing bitcoin to gold.

As stock markets plunge, Bitcoin has often held its own or even swung to the upside.

However, just days ago, that narrative appeared to have been called sharply into check.

The cryptocurrency market experienced a major sell-off alongside the S&P 500.

While there is a generally positive vibe in the air (at last), some traders are calling for caution.

After all, we’ve been burned before. This could be another liquidity grab before the next major downswing.

That said, many seem to be in agreement that the key support level bitcoin price needed to flip was $6400.

Both Josh Rager and CryptoBirb cited the $6,400 level as crucial.

CryptoBirb even went as far as to predict that bitcoin price could bounce all the way back to $7,600 as there is “little resistance between 6.4k and 7.6k.”

Rager also points out though, that even breaking $6.4k, stocks selling off is not bullish for BTC. Coinbase also warns that if the S&P 500 correlation sustains again in the future, “Bitcoin will enter uncharted territory.”

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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:

I can not express how bullish I am on bitcoin. We are at risk of losing the entire system right now. I know they will find a way to save it but all trust is lost.

Gold guys/girls – you’ll be fine too. It’s just that $BTC has bigger upside, by far but is riskier than gold

— Raoul Pal (@RaoulGMI) March 19, 2020

$btc tapping ex-range lows flipped to resistance. Positive for bulls is that there is little resistance between 6.4k and 7.6k
Intraday consolidation breakout retest towards 5.4-5.6k would be the most healthy to confirm price action is slowly recovering after Friday 13th PTSD lol pic.twitter.com/6u1fUZjpU6

— Crypto₿irb (@crypto_birb) March 20, 2020

$BTC rejected off the point of control (highest traded volume price) – a level that we saw act as support twice before the breakdownFor me to start to feel bullish, price needs to flip at least $6400 on high time frames

Even then, stocks selling off is not bullish for BTC pic.twitter.com/CjrlzqZtRe

— Josh Rager 📈 (@Josh_Rager) March 20, 2020

Bitcoin Price Pumps 20%, Are Bulls Running Into a Trap?

https://cointelegraph.com/news/raoul-pal-super-bullish-on-bitcoin-price-after-miraculous-80-rebound