GOLDMAN SACHS IS NOW OFFERING BITCOIN DERIVATIVES!! METEORIC $150K ETHEREUM PRICE PREDICTION!!

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This might be the most important Bitcoin (BTC) news of 2020, says Mike Novogratz.

Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in Bitcoin for its general investment account.

According to a report from The Wall Street Journal, the company purchased the Bitcoins – purportedly 5,470 BTC given the current price of $18,279 — through New York-based fund management company NYDIG. 

MassMutual also reportedly bought a $5 million equity stake in the firm, which holds $2.3 billion in cryptocurrency.

MassMutual told Cointelegraph that the investment is part of a broad strategy, with the goal of achieving “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.” The company clarified that:

“Our $100 million investment in Bitcoin through NYDIG will represent .04 percent – or less than one tenth of one percent – of our total GIA.”

The purchase comes as major institutional players are adopting Bitcoin for the first time and going longer on crypto investments. In September, business intelligence firm 

MicroStrategy purchased more than $425 million in Bitcoin as a reserve asset. Earlier this week, the company announced it would invest the proceeds from a $400 million securities offering into Bitcoin as well.

MassMutual told Cointelegraph that the company oversees more than $235 billion in its general investment account as of Sept. 30.

In other trending Bitcoin News today:

‘Insanely bullish’: Glassnode CTO Predicts BTC Price Will Rise 10X From Here

The chief technical officer of crypto market data aggregator Glassnode, Rafael Schultze-Kraft, has described a slew of Bitcoin (BTC) market indicators as “insanely bullish,” and predicted prices are set to increase by more than 10 times.

On Dec. 9, Schulze-Kraft tweeted a thread providing the basis for his ultra-optimistic prediction, presenting six of “the most important on-chain market indicators that are currently hovering at the same levels they were at the start of 2017.”

Each of Schulze-Kraft’s predictions (or estimates) see Bitcoin breaking into six figures, with all but one suggesting that BTC will exceed $200,000.

For each of the indicators, Schultze-Kraft measured the gains produced when the metric moved from a similar position in 2017 until it posted an all-time high later that year. He then multiplied Bitcoin’s current price by the same percentage increase.

Schultze-Kraft noted that Bitcoin’s Net Unrealized Profit/Loss, or NUPL — “the difference between unrealized gains and losses based on when coins last moved on chain” — has climbed back up to 78% of its 2017 ATH.

Bitcoin’s price gained 1,400% to its peak, as NUPL ascended from its current level to all-time highs in 201. If the same scenario played out, Kraft estimates that Bitcoin’s price could reach $286,000 this cycle.

BTC’s Market Cap to Thermocap ratio — which assesses Bitcoin’s price premium relative to miner expenditure — is currently sitting at just one-quarter of its 2017 high. In 2017, Bitcoin’s price gained 625% as the metric rose to its all-time highs, suggesting BTC could tag $138,000 in future.

Bitcoin’s MVRV Z-Score — which seeks to identify when Bitcoin is “over/undervalued relative to its “fair value’” — currently sits at 34% of its 2017 top, the ascent to which accompanied a 1,150% price gain. Should BTC rally with the same strength as in 2017, Kraft-Schulze estimates Bitcoin will be worth $240,000 each.

Kraft-Shulze identified that metrics looking at longer-term hodler behavior suggested even higher price targets.

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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:

1/ Where are we in the #Bitcoin market cycle?A look at some of the most important on-chain market indicators.

TLDR: Insanely bullish, most metrics are far from the top. If things develop anything like 2017, we could see more than 10x $BTC from here.

A THREAD 👇 pic.twitter.com/d1jU0h5fxA

— Rafael Schultze-Kraft (@n3ocortex) December 8, 2020

https://cointelegraph.com/news/new-institutional-player-massmutual-purchases-100m-bitcoin

https://cointelegraph.com/news/insanely-bullish-glassnode-cto-predicts-btc-price-will-10x-from-here

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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

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

‘Buy Bitcoin’ (BTC) says, “Rich Dad, Poor Dad” best selling author Robert Kiyosaki.

It has been hard to miss the recent tweets from Robert “Rich Dad” Kiyosaki — the Vietnam war veteran turned prominent businessman.

The businessman — who is best known for his book “Rich Dad Poor Dad” — has been calling out Wall Street, the government, our central banks, and other institutions every day for the past few weeks.

Kiyosaki did so once again on May 24th, when he noted that the Mall of America is falling behind on its $1.4 billion mortgage, raising the question: “who is not getting paid?”

“MALL of AMERICA in Minnesota announced it will miss 2nd payment on its $1.4 billion mortgage. An intelligent question is “Who is not getting paid?” Dominos starting to fall. IMF says debt will rise from $6 trillion to $66 trillion by end of 2020. Buy Gold Silver & Bitcoin.”

Kiyosaki believes that the slowing economy, which will be punctuated by defaults on debts like the aforementioned, will result in growth in the prices of Bitcoin, gold, and silver.

As reported by NewsBTC, he postulated last week that he expects Bitcoin to hit $75,000 in the coming three years, while he also expects the price of gold to almost double within a year and for the price of silver to double in five years.

Kiyosaki isn’t the only prominent name in the business world that has recently recommended Bitcoin due to the ongoing macroeconomic environment.

Billionaire hedge fund investor Paul Tudor Jones, for instance, this month decisively entered the Bitcoin space when he promoted the asset in a research note sent out to his clients titled “The Great Monetary Inflation.” 

In it, he wrote that due to the leading cryptocurrency’s scarcity and decentralized nature, buying Bitcoin is making much more sense than fiat currencies, which are rapidly being inflated away due to the outbreak of COVID-19. Alex Krüger, a well-respected economist, believes that Jones’ support for Bitcoin is one of the most important events for this space ever:

“The Paul Tudor Jones letter is the single most bullish thing ever written about bitcoin, and it came from Tudor himself. I see it as a game changer. Think many macro investors will follow. Mandate changes and onboarding take time. PTJ will be on CNBC this week.”

In other trending Bitcoin News today: Market Analyst Says This Little-Known Cryptocurrency Will Soar 700% in Two Years Former hedge fund manager Teeka Tiwari says he believes a small-cap cryptocurrency is poised to print major gains over the next 24 months.

Tiwari’s 2020 Phenomenon Playbook lists Crypterium (CRPT) as the number coin with the potential for immense growth, reports IBTimes.

The Wall Street veteran says it could skyrocket by 700% in the next two years based on the forecasted volume of payments that would go through the Crypterium network.

Crypterium is a financial startup spearheaded by former Visa executive Steven Parker.

The company offers two primary products: the Crypterium Wallet and the Crypterium Card, which allow users to buy, exchange, store, and spend their cryptocurrencies with the same ease as traditional currency.

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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:

MALL of AMERICA in Minnesota announced it will miss 2nd payment on its $1.4 billion mortgage. An intelligent question is “Who is not getting paid?” Dominos starting to fall. IMF says debt will rise from $6 trillion to $66 trillion by end of 2020. Buy Gold Silver & Bitcoin.

— therealkiyosaki (@theRealKiyosaki) May 24, 2020

“Rich Dad Poor Dad” Author Continues to Promote Bitcoin as Economy Worsens