ETHEREUM WILL LIKELY FLIP BITCOIN THIS CYCLE AND HIT $85K!! BTC WILL COMFORTABLY REACH $200K EOY!!

➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net

A self-declared cryptocurrency whale whisperer known for being a top trader on BitMEX is bullish on the Bitcoin price trajectory over the next five months.

In a new viral tweet, AngeloBTC tells his 150,000 followers on Crypto Twitter that BTC is coiling in a triangle that will lead to an eventual breakout and surge to $16,000 by October.

Last month, Angelo compared the current BTC price path to the early days of its epic run to $20,000 back in 2017.

This time around, he believes Bitcoin is en route to $30,000 in 2021. “Crazy how they had to tank the stock market to shake people out before the halving.

Crazy how we are still going to $30k.” BTC is currently battling psychological resistance at the $9,000 level.

At time of publishing, Bitcoin is down 4.50% in the last 24 hours at $9,072, according to CoinMarketCap.

That’s an 8.39% drop from a recent high of $9,903 set on May 17th.

In the short term, analyst and trader Michaël van de Poppe says BTC is at risk of a further drop to low $8,000 levels.

“Testing the support level here (might wick to $9,100), after breaking below the rising wedge structure. Holding here and we can test the range highs again. If Bitcoin can’t, I’m assuming the $8,200-8,500 level to be tested as support next.”

In other trending Bitcoin News today:

Bitcoin Traders Now Eye $6-7Ks After 4 Failed Attempts to Break $10K

The price of Bitcoin is set to test lower levels as support after numerous attempts to break $10,000 have failed.

Since May 20 Bitcoin (BTC) price has dropped nearly 10%, shifting traders’ focus from taking out the $10K resistance to now holding above the all-important $8,800 support. 

The short-term bearish trend took hold after the top-ranked crypto-asset on CoinMarketCap experienced repeated rejections near the $10K mark, which took the form of higher lows at $9,942, $9,905 and $9,849. 

Failure to set a higher high above these levels and the steady loss of momentum eventually caused the price to drop below the bullish pennant and the last two days have seen the bearish move intensify. 

For the time being, Bitcoin price continues to find support at the ascending channel trendline but the strength of each bounce from this support is beginning to thin and a number of traders are now calling for a revisit to $7,400-$6,500 if the $8,800-$8,575 support gives out.

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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:

Imagine shorting the best performing asset of the decade.

— Angelo฿TC (@AngeloBTC) May 21, 2020

https://cointelegraph.com/news/bitcoin-traders-now-eye-6-7ks-after-4-failed-attempts-to-break-10k

https://cointelegraph.com/news/dont-buy-bitcoin-says-wealth-exec-as-lebanon-chooses-btc-over-fiat

➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net

Market analyst and podcaster Preston Pysh says he believes a new long-term Bitcoin bull cycle is coming that will take the BTC price far past $100,000.

In a new interview with Heyo co-founder Nathan Latka, Pysh points to the Bitcoin halving, which is set to execute next month, as the catalyst for a parabolic rally that could bring the Bitcoin price to $300,000.

“Do I think that it’s just going to up to [$100,000] and stop? Hell no. It’s going to go straight through that number. It’s probably going to go to $200,000 to $300,000.

And then, if it doesn’t meet its escape velocity, which is a whole other term, which is, in my opinion, completely dependent on all this other macro stuff that we’ve been talking about… then it’s going to come back to that $80,000 to $100,000 mark. And it will stay there until the next four year halving event.”

Pysh says concerns that the halving, which will cut in half the amount of BTC rewarded to miners who power the network, will make it hard for miners to earn a living are overblown.

He points to Bitcoin’s difficulty adjustment, which automatically reviews network activity and changes how much computing power is required to process transactions, as the key reason many miners will continue to turn a profit as Bitcoin becomes increasingly scarce.

As for his personal investments, Pysh says he owns Bitcoin (BTC) and is now out of the equities market.

He says the push from central banks to ramp up money printing will significantly weaken the US dollar.

He points to billionaire investor Ray Dalio as an example of a leading investor who shares the same views on the future of the global reserve currency.

In January, Dalio said “cash is trash” in an interview with CNBC.

Dalio argues that a weakening dollar and increasing money supply will decrease its value over time.

In other trending Bitcoin news today: ‘Boomers Are F*cked’ – New Macro Report Forecasts $1M Bitcoin by 2025

In a scathing attack on the world’s ailing financial system, Raoul Pal puts his faith firmly in Bitcoin and gold as the future.

Bitcoin (BTC) can rally to $1 million but coronavirus means that the baby boomer generation is “f*cked,” a damning new macro report concludes.

Originally published to clients on March 30, the report from Global Macro Investor dubbed “The Unfolding” paints a dismal future for the financial market.

According to CEO Raoul Pal, who authored the report, coronavirus has fueled the fire of systemic weakness across global markets.

“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg,” he summarized on the market losses from March.

“The Baby Boomers are totally f*cked. I have been publicly warning and warning about this.”

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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:

Jack Dorsey has one thing listed in his bio on twitter. So here’s the question for people that think BTC won’t work:

What the hell does this guy know about #Bitcoin that you don’t? pic.twitter.com/q6dug8A8Hn

— Preston Pysh (@PrestonPysh) April 23, 2020

https://cointelegraph.com/news/boomers-are-fcked-new-macro-report-forecasts-1m-bitcoin-by-2025

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

Bill Miller, chairman and chief investment officer of Miller Value Partners, is sharing his crypto investment strategy and why he’s bullish on Bitcoin (BTC).

In a FutureProof interview, the head of the investment firm that manages $3 billion in assets describes the start of his journey as a BTC believer.

“I got involved in Bitcoin around 2013. It was trading at around $200 or so when I started buying it. Then it ran up to around $1,100 to $1,200 and then Mt. Gox collapsed. [Bitcoin] collapsed all the way back to $200 again in 2014. I began to buy it again… My average cost is about $300 [a coin].”

Miller says there are several fundamental reasons why he became an early adopter and long-term advocate of the world’s leading cryptocurrency.

“The nature of what it was trying to do, it had many different ways to win. My view was if any of those various things – it became a currency, it became a payment system, it became a non-correlated asset – any of those things, much less all of them, would lead to a very dramatic move in the underlying price.

That was also helped along by the fact that it is limited to 21 million Bitcoin and it is decentralized. It is not able to be tampered with or debased.”

From an investment standpoint, Miller says Bitcoin continues to offer a very favorable risk-reward ratio.

He’s an advocate for a small 1% to 2% portfolio allocation to BTC.

In the long run, he believes he could earn a 1000x or more return on his BTC investment, which would place Bitcoin at $300,000.

“I could make 100x of my money. I could make 1,000x, maybe more than that. I can only lose 100%… I still have it. I haven’t sold any Bitcoin… Back in the 70s and early 80s, people were talking about putting 5% of your assets in gold because it’s a hedge.

It’s an insurance policy in case inflation comes back again as it did in the 1970s. I would say that if that’s a sensible thing to do, then, certainly to have 1 to 2% of your assets in Bitcoin makes great sense here.”

The experienced investor also makes a unique case as to why Bitcoin is less risky now compared to when it was trading below $100.

“For most assets that you buy, the more they go up in price, the less value there is to be extracted out of it, and the riskier it becomes.

Bitcoin is in an unusual position of being the exact opposite of that. It was very risky when it was trading at a dollar, $5, or $10. It could have easily disappeared.”

In other trending Bitcoin News today:

Bitcoin Price Stalls at $9,300, Altcoins Rally to New Multi-Year Highs

Within the last few hours, the Bitcoin (BTC) price pushed above $9,300 after struggling to hold the $9,300–$9,400 level for the past three days. 

As Bitcoin price slowly worked its way through resistance to $9,300, a handful of the top-50 altcoins posted strong double-digit gains.

Cardano (ADA) reached a new two-year high by rallying 26% to $0.13. 

Chainlink (LINK) also rallied 6.11% to a new all-time high at $5.99.

VeChain (VET) was another top performer for the day with a 21.6% rally.

According to CoinMarketCap, the overall cryptocurrency market cap now stands at $271.3 billion and Bitcoin’s dominance rate is 63%.

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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-stalls-at-9-300-altcoins-rally-to-new-multi-year-highs