CRYPTO LEGEND PETER BRANDT UNVEILS INCREDIBLY BULLISH BITCOIN PREDICTION OF $200,000 PLUS PER BTC!!

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In an interview with Altcoin Daily, Binance founder, and CEO, Changpeng Zhao (CZ) answered true to Bitcoin reaching a $1 million valuation one day.

However, considering that the BTC price prediction came from a quickfire, true, or false segment at the end of the interview, it would be wise to take this valuation with skepticism.

Of more significant concern was CZ’s view on the long term outlook for the market leader.

Contrary to his million-dollar price prediction, he believes a bigger and better alternative will replace Bitcoin at some point.

The interview covered a wide range of topics, including cryptocurrency as a hedge against traditional finance, Bitcoin maximalism, and the role of DeFi in taking the space forward.

But of interest was CZ’s opinion on the long term future of Bitcoin, especially when taking into account the antiquated nature of its core technology, and the limitations of updating it as a live blockchain.

“To be honest, I think Bitcoin’s dominance over time will decrease, not increase. It may increase in the short term… there’s a lot of innovations people do that people can bring back to Bitcoin, like second layer solutions etc. But when the technology is out already and adopted for ten years, there’s relatively limited scope that you can update it.”

CZ expanded on this by saying sooner or later, every technology eventually gets replaced by something better.

He drew on examples such as dated programming languages, and once-dominant hardware and software firms losing ground to more innovative rivals.

“nothing lasts forever… so things change… if we look at 10, 15, 20 years later, I think it’s totally conceivable that something new will replace Bitcoin, and something better than Bitcoin.”

However, he was keen to state that Bitcoin will still be around, simply because going back to fiat is an unlikely alternative.

But he remains adamant that another, more current product will usurp the market leader down the line.

“But if you ask 20 years from now is it still going to be king? A hundred years from now, a thousand years from now, and the answer is obviously we’re not sure, things just change over time.”

Bitcoin has considerable influence on the rest of the other markets.

If CZ’s prediction plays out, what then for the future of cryptocurrency as a whole?

Zhao dealt with this by saying a decoupling of this effect will occur, but this will happen over a long period. “within the next six months, if Bitcoin went to zero that would be true, everything else will be hit really really bad. But if you look at a five year, ten year horizon… I don’t think cryptocurrencies will be gone.

However, as the most decentralized and censorship-resistant, Bitcoin will retain its place in the short to medium term.

In other trending Bitcoin News today:

TOP FUND MANAGER EXPLAINS WHY BITCOIN WILL UNDERGO “EXPLOSIVE” RALLY

According to the chief investment officer of Hayman Capital Management, Kyle Bass, Bitcoin will soon rally alongside the two top precious metals:

“Silver, Gold, Bitcoin, etc all look to be ready to make explosive moves higher given the sheer amount of money printing going on around the world. Here is a chart or front-month silver going back 10 years.”

Bass is a prominent investor who called the Great Recession in 2008.

He has also been critical of China and the central bank money-printing efforts that have gone on over the past decade.

In late 2019, he said that what will also fuel a rally in the price of Bitcoin is people in Asia, especially in China, trying to siphon funds out of the sometimes closed economy there.

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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:

Binance CEO Believes Bitcoin is Going to $1 Million, But With a Twist

Top Fund Manager Explains Why Bitcoin Will Undergo “Explosive” Rally

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

Former Facebook executive-turned Bitcoin billionaire venture capitalist, Chamath Palihapitiya, has warned neither Biden nor Trump will help U.S. dollar – but holding BTC is an “insurance policy” that helps him to “sleep soundly at night.” “

The reality is that [the Federal Reserve and the U.S. Treasury] have printed so much money that the likelihood is that we’re going to continue to see asset price inflation independent of who’s in the White House,” Palihapitiya told CNBC’s Squawk Box this week, adding he holds bitcoin just “in case the central banks and governments of the world step on a landmine.”

The Fed and the Treasury have embarked on massive stimulus programs this year, injecting trillions of dollars in the financial system in an attempt to offset the economic damage caused by the coronavirus pandemic.

This unprecedented intervention, propelling the stock market to record highs even as unemployment has spiked and businesses struggle nationwide, has sparked fears among some investors that a severe bout of inflation is on the way.

Palihapitiya, who began his VC career while still at Facebook in 2011 and has backed the likes of big data analytics firm Palantir and Richard Branson’s space exploration company Virgin Galactic, has long argued Bitcoin serves as a long-term store of value and should be included in every investors’ portfolio.

“I still think that what I talked about sort of eight or nine years ago still holds, which is as a 1% hedge in our portfolio.” Chamath, who purchased 1,000,000 Bitcoin’s back in 2013 at about $80 per BTC says he expects the Bitcoin price to climb as high as $1 million per coin over the next 20 years.

However, Palihapitiya warned against the buying and selling of bitcoin for short-term profit, advising investors to hold it and “hope that you never need it because the amount of actual chaos that will drive bitcoin appreciation is not something we actually really want to see.”

“The reality is [bitcoin’s] fundamentally not [correlated with stock markets] because it is underpinned by a set of beliefs that are completely orthogonal to the orthodoxy that runs the world today, and it is completely the inverse of how the financial infrastructure of the world operates,” Palihapitiya said.

In other trending Bitcoin News today:

Crypto Strategist Who Called Bitcoin’s Massive Collapse in 2018 Says BTC Poised to Flash Major Buy Signal

A veteran commodities trader known for accurately predicting Bitcoin’s epic fall from $20,000 says that the leading cryptocurrency is on the cusp of flashing a major buy signal.

Peter Brandt, CEO of trading firm Factor Trading Co., is sharing a chart that shows the crypto king is poised to break out of a symmetrical triangle dating back to 2017.

BTC now needs to close out the week above the $11,100 mark for confirmation.

Brandt cites large Bitcoin purchases from payments giant Square and business intelligence company MicroStrategy as significant fundamental factors driving Bitcoin’s price.

Collectively, the two companies have bought $500 million worth of Bitcoin within the last month.

“It is a major development that a global corporation is now putting BTC onto its balance sheet. The weekly and daily charts a poised to flash a big buy signal.”

Back in January, Brandt said Bitcoin could surpass $100,000 in its current long-term cycle.

However, as the COVID-19 pandemic continues to hit financial markets, the veteran technical trader revealed last month that he exited the crypto market and moved his assets to the US dollar.

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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/billybambrough/2020/10/11/neither-trump-nor-biden-will-help-the-us-dollar-warns-early-facebook-exec-calls-bitcoin-an-insurance-policy/#6bacf1a8360a

https://news.bitcoin.com/here-are-the-top-public-companies-that-have-adopted-bitcoin-as-a-reserve-asset/

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Software giant Microstrategy has purchased more than $1 billion worth of bitcoins to bring its total cryptocurrency holdings to above $4.5 billion worth.

The company announced on Wednesday that it had acquired an additional 19,452 bitcoins at an average price of $52,475.

This brings the firm’s total holdings to 90,531 bitcoins, which altogether were bought at an average price of $23,985 per bitcoin. This means Microstrategy has more than doubled its investment, with the holdings are currently worth more than half of Microstrategy’s $7.84bn market cap .

Bitcoin is currently trading at around $50,000 after crashing from a new all-time high above $58,000 on Sunday, 21 February, however CEO Michael Saylor predicts that bitcoin’s price could rise 10-fold over the coming years.

Mr Saylor said the latest investment was part of a twin corporate strategy of growing its software business while simultaneously “acquiring and holding bitcoin” in the expectation that its price will continue to grow in the long term.

“The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,” he said.

“We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities… with the objective of using the proceeds to purchase additional bitcoin.”

Speaking to CNBC before the latest investment was announced, Mr Saylor said that he believed bitcoin’s market cap would rise $100 trillion – 10-times that of gold’s.

It is currently worth less than $1trn, having risen from below $100bn last March.

“Bitcoin is going to flip gold, and it’s going to subsume the entire gold market cap,” he said.

“Once it gets to $10 trillion, its volatility will be dramatically less. As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”

Microstrategy’s announcement comes less than three weeks after Tesla revealed that it had ploughed $1.5bn of its cash assets into bitcoin.

Prior to the electric car maker’s announcement, Mr Saylor offered advice to Tesla boss Elon Musk on how to purchase such large amounts of bitcoin.

In a public Twitter exchange, Mr Saylor said the investment would be a “$100 billion favour” to Tesla shareholders.

In other breaking Bitcoin News today:

Cardano Is Now A Top-Three Cryptocurrency As ADA Price Soars 27% In 24 Hours

Cardano Ada received a fresh wave of optimism and buying volume on Feb. 26 that pushed its price to a new all-time high of $1.49, making it the third-ranked cryptocurrency by market capitalization. 

Data from Cointelegraph Markets and TradingView shows that Ada surged 27% from a low of $0.98 during the early trading hours on Feb. 26 to its new high at $1.49 on record trading volume. 

Momentum for the project has been building throughout the month of February following the integration of the Mary upgrade to Cardano’s testnet on Feb. 3. The upgrade enables smart contract functionality, helping transform the blockchain into a multiasset network similar to Ethereum.

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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:

FACT: Any perceived “Utility value” for Gold adds nothing – while its being abandoned as money in favor of #Bitcoin In fact, it’s a primary reason why the market prefers BTC over Gold. BTC’s price-discovery is unencumbered by any perceived utility-value. It’s just pure money. https://t.co/uduDVlAtoF

— Max Keiser (@maxkeiser) February 27, 2021

The Bullion Banks and Central Banks have been demonetizing Gold for decades. Into the mess strolled #Bitcoin Now the demonetization process is speeding up.

— Max Keiser (@maxkeiser) February 26, 2021

#Bitcoin Price is now $80,000 in Nigeria – a 60% premium.

That’s what happens when you try to ban something people want.

— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) February 18, 2021

https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-microstrategy-cryptocurrency-price-prediction-b1807283.html

https://cointelegraph.com/news/why-is-bitcoin-86k-in-nigeria-here-s-why-the-btc-premium-is-huge-in-some-countries

https://cointelegraph.com/news/cardano-is-now-a-top-three-cryptocurrency-as-ada-price-soars-27-in-24-hours