FACEBOOK WILL ANNOUNCE THEY HOLD BITCOIN ON THEIR BOOKS TOMORROW?! $400K BTC THIS BULL CYCLE!!

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Popular Crypto Analyst Josh Rager makes a comparison between the Bitcoin price 10 weeks after the BTC halving in 2016 versus 2020.

“BTC – 10 weeks after halving (2016 vs 2020)

2016 halving: led to over 3000% gains in about 525 days

2020 halving: just getting started”

Someone pointed out, “Totally different situation, Pandemic and global recession” in which Rosh Rage responded…

“Yes and notice I didn’t put BTC at 3000% gains… I put it at like 1/3 that. I know there is nothing sensational about it. Still expect it to move up to new highs. Don’t know if that is 25k or 50k – all we can do is trade it accordingly”

BITCOIN HAS ROOM TO RALLY, SAY ANALYSTS

BTC’s ongoing breakout has allowed it to deny a bearish market structure that was set to send the asset plummeting, said an analyst on Jul. 22.

He specifically made reference to how Bitcoin invalidated a potential descending triangle and diagonal resistance during its recent move higher.

“Multiple failed attempts to send price lower soaked up at daily demand & the monthly open for BTC. Yesterday’s 1D close posted a higher high breaking MS on the daily. Metals, equities, alts, all ripping higher… may be time for the best asset of the past decade to now.”

This analyst did not convey a price prediction in the abovementioned analysis.

But in previous analyses, the trader has noted that Bitcoin is primed to move above $10,000, then $11,000.

The optimism was echoed by another analyst, who suggested that Bitcoin’s ability to surmount $9,500 is positive.

Referencing the chart below, that analyst opined:

“BTC HTF Update: Looking good still, seems as though $9300 is holding as support but even if we pullback to around $9200 that’s fine and we should be looking good for another leg upwards. Really want to see if bulls have the power to break $9500 as this is where the party starts.”

In other trending Bitcoin News today:

Little-Known Crypto Asset Skyrockets 10,000% As Analysts Track Nascent DeFi Market

A little-known cryptocurrency is the latest to send shockwaves through the industry after rising over 10,000% just a few days after it launched.

The crypto analysis platform Santiment is tracking the performance of YFI, the governance token of decentralized finance (DeFi) protocol yearn.finance.

An analyst at Santiment explains that the token helps investors generate passive income by leveraging platforms that offer the best yields.

“In a nutshell, YFI is something that makes you money, good ton of money. It is the only thing right now in the DeFi market that gives you the highest yield…

How it does that is by taking whatever you deposit, and it actually goes around and searches all the other platforms, whatever protocols are out there, and finds the best yields in the area and then deposits over there, ensuring that you get the best yields. Think of it as an automated yield aggregator.”

While its creator Andre Cronje insists that YFI has no financial value, the market begs to differ.

The native token of yearn.finance traded at $31.65 on July 18th before exploding to an all-time high of $3,458.31 on July 25th – a meteoric rise of 10,828.6% according to CoinGecko.

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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:

Totally different situation
Pandemic and global recession

— Crypto Damus (@AstroCryptoGuru) July 23, 2020

Why One Prominent Chess Grandmaster is Bullish on Bitcoin Adoption

Bitcoin’s Latest Surge Higher Is Extremely Positive: Factors to Consider

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Dan Held thinks Bitcoin (BTC) could skyrocket to $1 million in four to five years due to what he anticipates will be an unprecedented influx of institutional investment.

Held, Kraken’s head of business development, sat down with Cointelegraph’s YouTube channel to expand on his belief in a potential Bitcoin super cycle.

“I think this [bull run] versus other cycles will be much stronger because we will have institutional money flowing in. We’ll have much more developed architecture, we’ll have much better marketing…

We could very much see Bitcoin go through what I would call a super cycle. So a lot of people are predicting Bitcoin goes from $10,000 to $100,000 or $200,000 or $300,000.

Well, what happens when the whole world wakes up to Bitcoin’s value prop of being this decentralized store of value that’s not seizable? If socialism rises, if taxes rise, I could see tons of people flowing trillions and tens of trillions of dollars into Bitcoin, so Bitcoin might not just stop there, it could go to $1 million.” 

Held says 90% of his personal financial portfolio is in Bitcoin.

He says he definitely wouldn’t recommend that portfolio construction for most other investors, and the value of his BTC has grown exponentially through the years in relation to his traditional investments.

The Kraken executive also says he doubts blockchain technology is well-suited for any other application aside from powering the Bitcoin network.

“When we look at Bitcoin, a lot of people go, ‘How about this thing called blockchain? Couldn’t we take this tech called blockchain and repurpose it for everything? We’ll put a blockchain on the moon, we’ll put a blockchain on food, we’ll put blockchain on industrial stuff.’

You need to sprinkle it like Salt Bae, sprinkle some blockchain dust on it and it will magically give off some efficiencies. Satoshi purposefully built blockchain tech to build Bitcoin. Blockchain tech sucks. It’s terrible. It makes so many trade-offs to build Bitcoin that it is basically ineffective for almost anything else.”

In other trending Bitcoin News today:

Top Bitcoin (BTC) Strategist Proclaims Altcoin Season Has Arrived, Names Four Crypto Assets to Watch and One Ready to Retreat

Crypto analyst Nicholas Merten says he believes a new altcoin season has officially arrived.

On the latest episode of DataDash, Merten says that for the first time in two-and-a-half years, the collective altcoin market has broken through a key line of resistance against Bitcoin (BTC).

“We’ve obviously had a breakout here and the momentum has been building up here. We talked about this for the last few weeks to watch out for this and we finally have gotten it… 

For this to continue climbing, what are we really going to need here? Is it going to be a lot of small-cap plays?

“In the short term, we need to start seeing some of the large-caps move. I’m talking about Etherium, Litecoin –some of these larger, more established cryptocurrencies, to really solidify the breakout…

The monthly [chart] has been signaling this since back here in September when ETH set its last low.”

Merten is particularly bullish on iExec (RLC), Chainlink (LINK), Cosmos (ATOM), and REN, but he thinks that Cardano (ADA) is headed for a pullback after sustaining a huge rally from about 2 cents in March to a high of 13 cents on Tuesday.

“We can see here that in the short term ADA is a little bit overextended. It’s had a great rally here so it might be time for it to play a little bit of catch-up.”

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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:

Forex Analyst Explains Why Chainlink Price Could Surge 80% Higher

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Tone Vays, the well-known BTC derivatives trader, believes the Bitcoin price will stay above $10,000 for the rest of 2020. 

At the start of the year, Vays said he was skeptical the BTC price would break $20,000 in 2021 but now he thinks it’s possible for the top cryptocurrency to overtake its record all-time high.

If the price of Bitcoin surpasses $20,000 in the medium-term, Vays said history shows it tends to double.

Based on the historical price cycles, he said the $45,000 to $50,000 range is a reasonable target.

During an interview with IGTV, Vays said:

“Every time Bitcoin breaks a prior all-time high, especially when it takes years to break that all-time high, it tends to usually more than double. So I think $45,000 to $50,000 is a reasonable target.”

Throughout 2020, Vays said Bitcoin would likely stay above $10,000 and gear towards $20,000 the following year.

He noted:

“In the beginning of the year, I thought that even next year would be a struggle to break $20k. Now I think it’s pretty likely that we’ll break $20k next year.”

As on-chain analysts have said throughout August, the $10,000 area has become a strong support level for Bitcoin.

As long as a key psychological level at $10,000 is intact, an extended uptrend becomes more likely.

Vays also drew a comparison between Bitcoin and gold. He emphasized that gold broke its all-time high and saw a 5% upside past its previous high fairly quickly. 

The trader explained that Bitcoin could do something similar over the medium to long-term when it breaks its previous all-time high at $20,000. He stated:

“We are watching what’s happening with gold right now. Gold finally broke its all-time high, that it made ten years ago, just recently, and it went already $100 past that. So it went 5% more fairly quickly. So let’s see how fast gold goes up since breaking all-time high, and Bitcoin can do something similar.”

How far could Bitcoin go?

Various price models predict the price of Bitcoin to reach anywhere between $30,000 to $250,000 in the long-term. 

According to Vays, he would be satisfied if the next top of Bitcoin is at around $45,000.

Historically, Bitcoin has seen a major breakout past its previous record high, reach a new peak, then correct.

A rapid upsurge to unsustainable price levels could leave BTC vulnerable to sharp drops. He added:

“Do we think we go as high as $100,000? I’m not willing to make that statement. For me, I would be happy if the next top was around $45,000, and that can happen quickly.”

In other trending Bitcoin News today:

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

Bitcoin price recently set a new high for 2020 but has since pulled back to just under $12,000.

However, the cryptocurrency is slightly “ahead of schedule,” according to a top crypto expert and former Google engineer.

Because the asset is further beyond in its cycle “trajectory,” it could mean that there’s still more downside to go before the bull run picks up in steam.

In the end, however, it doesn’t matter, as the same projection brings the cryptocurrency to a peak of over $325,000 in under two years.

According to the crypto expert, if the cryptocurrency was following the last cycle exactly, the price per BTC should be trading around roughly $10,800.

Currently, BTCUSD is trading roughly $1000 higher following a pullback that began after setting a local high at $12,400.

If Bitcoin continues to follow this path, and it has thus far, the next peak would arrive sometime around October 19, 2021.

The target? $325,000.

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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:

If we were to follow the 2016/17 trajectory (we’re ahead of schedule right now), the peak of the cycle would occur on October 19th, 2021 and the peak price would be approximately…

$325,000 👀

— Vijay Boyapati (@real_vijay) August 19, 2020

Stats showcasing crypto growth in 2020– Crypto market cap +95% – Stablecoin market cap +185%

– $BTC +65%

– $ETH +220%
– $LINK +800%– BTC futures OI +50%– BTC options OI +560%– BTC CME futures OI +660%– BTC CME futures OI (in BTC) +360%

– Total value locked in DeFi +900%

— Alex Krüger (@krugermacro) August 20, 2020

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

https://grayscale.co/wp-content/uploads/2020/08/Grayscale_Valuing_Bitcoin.pdf

https://cointelegraph.com/news/grayscale-bitcoin-market-looks-like-2016-before-historic-bull-run

https://cointelegraph.com/news/50k-bitcoin-is-reasonable-if-btc-hits-new-highs-says-tone-vays