CRYPTO TRADER PREDICTS $150K BITCOIN TOP THIS BULL CYCLE, FOLLOWED BY A CORRECTION TO $32K!!!!!

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Crypto analyst spotted this strong Bitcoin bullish harmonic structure in an advanced form.

The pattern is pointing towards a $32,000 BTC price as the next bull run target.

Yesterday, Bitcoin price reclaimed its critical $12,000 resistance before suddenly dropping by $500 in seconds to fill futures gap.

A bounce off $11,500 saves investors from serious pain but $12,000 remains a problematic level to flip to support.

Data from Cointelegraph Markets and Coin360 showed BTC/USD nosedive 4% during Monday trading, bouncing off $11,500 and since returning to $11,700.

In doing so, Bitcoin neatly filled the latest gap in CME Group’s Bitcoin futures markets, which lay just below $11,700. 

A classic move, Cointelegraph predicted on the day that markets would likely attempt to go lower on short timeframes to fill the gap, in line with standard behavior.

The event caused a dramatic spike in liquidations on derivatives giant BitMEX, data from monitoring resource Skew confirms.

For Cointelegraph Markets analyst Michaël van de Poppe, the sudden dip suggested that Bitcoin was returning to the pattern of behavior seen in recent months. 

“Smaller timeframe chart explaining what just happened. Essentially, we’re back into the ranging gameplan,” he told Twitter followers. 

“Ranging” within a certain price corridor has become a feature of BTC/USD in 2020, with recent gains upending a protracted period, which slowly narrowed to point — a process known as compression.

Going forward, lower levels could see a retest, with significant support just above $10,000 still apt to form the price floor, Van de Poppe thinks.

“Larger timeframe; still expecting such a scenario,” he continued. 

“If we break $12K however, I assume we’ll see $13k.”

Attention will thus now focus on bulls’ ability to cement $12,000 as a support zone, something which has yet to occur on any meaningful level for Bitcoin. 

Nonetheless, the latest weekly close marked the highest since January 2018 and the initial fall from Bitcoin’s all-time highs of $20,000.

In other trending Bitcoin News today:

‘Capital Flight out of Asia Is Taking Bitcoin Express’ Says Max Keiser

Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes.

Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that rising tensions in Asia are one of factors for Bitcoin’s rally up to $12,000.

In an Aug. 10 tweet, Keiser argued that Bitcoin is a solid method to move big amounts of money abroad while crossing borders.

According to Keiser, a number of people in Asia are using Bitcoin to move their money out of the continent as geopolitical tensions risk affecting markets.

“Capital flight out of Asia taking the Bitcoin express,” Keiser wrote. Comparing Bitcoin to gold — one of the world’s most popular safe-haven assets, Keiser argued that Bitcoin is one of the few ways to move a fortune abroad. Keiser said, “You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you. (Something near impossible with gold).”

The news comes amid reports of Chinese citizens illegally crossing into the United States with $28,000 worth of gold bars.

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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:

#Bitcoin up as tensions rise in Asia

Capital flight out of Asia taking the #Bitcoin express

You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you

(Something near impossible with Gold)

— Max Keiser (@maxkeiser) August 10, 2020

$BTC #BITCOINSmaller timeframe chart explaining what just happened. Essentially, we’re back in to the ranging gameplan.

Larger timeframe; still expecting such a scenario. If we break $12K however, I assume we’ll see $13k. pic.twitter.com/vjnJzJfVzC

— Crypto Michaël (@CryptoMichNL) August 10, 2020

https://www.tradingview.com/chart/XBTUSD/CtL1HlXn-Bitcoin-to-32k/

https://news.bitcoin.com/year-end-gold-and-bitcoin-price-predictions-from-regular-everyday-people/

https://cointelegraph.com/news/bitcoin-price-suddenly-drops-by-500-in-seconds-to-fill-futures-gap

https://cointelegraph.com/news/capital-flight-out-of-asia-is-taking-bitcoin-express-says-max-keiser

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

Popular Crypto researcher Lark Davis aka ‘The Crypto Lark’ thinks a number of decentralized finance (DeFi) projects that are not built on Ethereum have significant growth potential to outperform Bitcoin (BTC) as well as ETH in 2020.

He specifically highlights the upside of four little-known crypto assets that he believes could see big growth in the short term.

“I believe that DeFi outside of Ethereum is likely to be a big growth area in the coming months even if we still have great DeFi projects launching on Ethereum.”

Davis calls out Kava (KAVA), Band Protocol (BAND), Switcheo (SWTH) and Nash (NEX) as his top picks.

Kava is a cross-chain, DeFi lending platform.

Its token is trading at about $1.97 at the time of writing, and it has seen 4x gains since mid-May.

Despite its already-skyrocketing value, Davis says the token still has “massive potential for long-term price appreciation.”

“The team and the backers of Kava are very, very strong as well. In my opinion, this has all the makings to be as big as Ethereum’s MakerDao, which at its height had a market cap over $1 billion.” 

Band Protocol is a Cosmos blockchain native and cross-chain data oracle network that competes with Chainlink.

Its token is currently trading at about $2.42 at time of writing and has increased about 120% in price since the beginning of July.

Says Davis, “BAND already has a big, growing list of high-profile partners, people like Binance and Wanchain and Elrond and Fantom and Kava, of course.” 

SWTH and NEX are both decentralized exchange tokens.

Davis says they have upside potential because Switcheo is launching a new derivatives exchange and upgrading their token model, and Nash just launched a zero-fee fiat on-ramp for users in the European Union.

Davis does warn, however, that both are competing with tons of other decentralized exchanges, which could impact their growth.

In other trending Bitcoin News today:

Bitcoin Price Must Now ‘Reclaim $9,400 Quick’ to Stop Bears – Trader

Bitcoin (BTC) must reclaim $9,400 as soon as possible in order to change its bearish course, says Cointelegraph Markets analyst filbfilb.

In an update on social media on July 16, the popular trader warned that the situation facing Bitcoin was fast becoming make or break.

“BTC Bulls need to reclaim $9400 quick sharp,” he wrote in comments on a long-term price chart. 

Attention focused on BTC/USD being stuck in a compression cycle which has lasted for multiple weeks.

Compression refers to a pattern of higher lows and lower highs, with a trading corridor narrowing before a breakout.

For Bitcoin, the danger lies in a potential climax occurring in bearish territory as denoted by the Bollinger Bands volatility indicator.

Bollinger Bands consist of an upper and lower band surrounding a middle band and have historically captured both bullish and bearish moves by Bitcoin.

“Coming to the end of consolidation/compression now.. doing so below the middle of the bbands is not typically a good sign,” filbfilb continued. Should $9,400 reappear, he added, the outlook would be open to reinterpretation: “Reclaim that level and happy to reconsider bearish bias.”

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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-must-reclaim-9-400-quick-sharp-to-stop-bears-trader

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Bitcoin could surge to $100,000 by the end of 2021, according to the crypto investor Anthony Pompliano. 

BTC traded as high as $19,389 on Wednesday and is nearing its all-time high, reached in 2017.

Pomp, a cofounder of Morgan Creek Digital, told CNBC on Wednesday that demand for Bitcoin was rapidly outpacing supply, especially after its “halving” in May, when the number of Bitcoins awarded to miners was cut in half. 

This occurs roughly every four years and serves to limit the supply of BTC coming into the market. 

Bitcoin is “the winner of a supply-and-demand exercise,” Pompliano said.

Pomp added that the macroeconomic environment right now was “rocket fuel” for Bitcoin. 

Low interest rates, money printing, and the Federal Reserve’s average inflation target of 2% have driven retail and institutional investors into BTC, he said.

The investor also said that Janet Yellen, President-elect Joe Biden’s pick for treasury secretary, was “notorious” for tolerating higher levels of inflation and that this could also push the BTC price higher.

“I don’t think it’s that crazy to see a $100,000 Bitcoin price by the end of 2021,” Pompliano said. 

“And if we continue to get bigger and bigger buyers … if this kind of tips over and all of the sudden it becomes kind of a consensus trade, it wouldn’t surprise me to see something even higher than $100,000.”

Bitcoin has surged by roughly 160% this year as more major investors and institutions acknowledge the cryptocurrency’s legitimacy as a store of value. 

The billionaire hedge-fund manager Stanley Druckenmiller told CNBC earlier this month that he owned a “tiny bit” of bitcoin as a hedge against inflationary pressure, while the venture capitalist Chamath Palihapitiya said in February that every citizen should hold 1% of their assets in bitcoin because it’s a “fantastic hedge.”

Despite his bullish view, Pompliano shared two potential risks he sees for Bitcoin.

“The first thing’s a self-inflicted wound, right, if there’s a bug introduced into the code or something like that,” he said. “The second thing would be some sort of geopolitical risk where we saw a really aggressive coordinated kind of action by multiple nation-states.

“But again, I think that those things are very low probability of occurring, so it doesn’t really kind of seem like that’s going to happen in the short term.”

In other trending Bitcoin News today:

How Massive Liquidations Caused Bitcoin to Plummet 16% in 24 Hours

Bitcoin fell by a whopping 16% to $16,334 on Nov. 26 since achieving its peak at $19,484 the previous day. Data suggests that cascading liquidations were the driving force of the massive correction.

Prior to the pullback, the open interest of the Bitcoin futures market hit a new record high. The derivatives market was also overheated with buyers, causing the market to sway to one side.

The combination of two factors triggered a rapid BTC price drop alongside a spike in futures trading volume.

Over a billion dollars worth of futures contracts were liquidated, similar to the March 12 crash. The Chicago Mercantile Exchange, for example, saw $1.8 billion in volume — its highest ever, according to Skew.

As the price of Bitcoin started to drop, inflows into exchanges spiked. This indicates that whales, or high-net-worth investors, were selling heavily on major exchanges, including Coinbase.

Ki Young Ju, the CEO of CryptoQuant, pointed out that the All Exchanges Inflow Mean indicator was showing the selling pressuring coming from whales.

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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:

Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I’m concerned that this would have unintended side effects, and wanted to share those concerns.

— Brian Armstrong (@brian_armstrong) November 25, 2020

Bitcoin Falls as Mnuchin [Reportedly] Plans to Regulate Private Wallets

https://markets.businessinsider.com/currencies/news/bitcoin-price-bullish-view-anthony-pompliano-halving-supply-demand-record-highs-2020-11-1029839786

https://cointelegraph.com/news/how-massive-liquidations-caused-bitcoin-to-plummet-16-in-24-hours