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Investment banking giant Goldman Sachs has reportedly opened up futures trading on Bitcoin to Wall Street executives.
In other trending Bitcoin News today: $150K Ethereum Price Prediction By 2023!Â
Nikhil Shamapant, a retail investor and medical resident, recently published a research report titled âEthereum, The Triple Halvingâ in which he presented arguments for why he thinks ETH could see a meteoric rise in value to around $150,000 by 2023.
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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/they-see-eth-rollin-why-did-ether-price-reach-3-5k-and-what-s-next
https://cointelegraph.com/news/goldman-sachs-is-now-offering-bitcoin-derivatives
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âBUY BITCOIN,â ANOTHER BILLIONAIRE VC TELLS INVESTORS LOOKING TO ESCAPE MASSIVE DEFLATION | BTC News
âĄïžÂ REPLAY â TEEKA TIWARI â 5 Coins To $5 Million: http://final5.cryptonewsalerts.net
âBuy Bitcoinâ is emerging as the mantra against the ongoing global financial crisis.
The latest to join the cryptocurrency bandwagon is Chamath Palihapitiya, a billionaire venture capitalist with a history of investments in startups that Google and Microsoft would later acquire.
The Social Capital CEO was appearing on a CNBC daily to speak about the vast disconnect between a suffering economy and a cheering stock and bond market.
âWe have completely divorced the economy from the stock and the bond markets,â Social Capital CEO Chamath Palihapitiya says. âThe Fed has been the principal agent of that obfuscation.â
Before mentioning BTC, Palihapitiya criticized the U.S. Federal Reserve for launching a stimulus package that helped to inflate assets instead of helping taxpayers and consumers. He added that the central bankâs move neither solved income disparity nor unemployment.
What it did was allowing a few entities to play the financial markets to make more money.
The conversation shifted to the deflationary aspects of the Fedâs stimulus.
While Palihapitiya praised the Fedâs efforts to protect the U.S. economy amidst the coronavirus pandemic, he warned that the central bankâs decision to purchase corporate debt ETFs and balloon its balance sheets further could quicken âa really bad deflationary supercycle.â
When the question about where investors should put their capital as the economy shrinks popped, Palihapitiya recommended Bitcoin.
The veteran praised the cryptocurrency for its lack of correlation with other traditional assets.
He suggested that the feature alone could help investors obtain insurance against a deflating economy, citing Paul Tudor Jones, the founder & CEO of a $22 billion hedge fund, for taking a similar approach.
âNow all of a sudden even he is looking at bitcoin and the reason is [that] we are in this massive deflationary cycle,â said Palihapitiya. âI still struggle to find anything that is as uncorrelated to anything and to everything else than bitcoin.â
BITCOIN ADOPTION ON WALL STREET
Tudor Jones, on Monday, had told CNBC that he is holding about 1-2 percent of his net portfolio in the Bitcoin futures.
The billionaire investor, like Palihapitiya, commended the cryptocurrency for behaving as an insurance against the Fedâs massive money printing.
In other trending Bitcoin News today:
Crypto Milestone: Banking Giant JPMorgan Chase Provides Bitcoin (BTC) Bridge for Coinbase Customers The largest bank in the United States is singing a new tune about Bitcoin.
JPMorgan Chase is now offering banking services to cryptocurrency exchanges Coinbase and Gemini in a pivotal and critical turn for Bitcoin and digital assets as an emerging mainstream form of money.
The Wall Street Journal reports that JPMorgan Chase will allow Coinbase and Gemini customers based in the US to make ACH (automated clearing house) withdrawals and transfers, marking the end of the bankâs anti-crypto era led by CEO Jamie Dimon, the industryâs most outspoken crypto critic.
Dimon called Bitcoin âa fraudâ in September of 2017. The chief executive went a step further when he threatened to fire any âstupidâ employees caught trading the cryptocurrency.
That position has melted in the wake of the macro economic landscape that is awash in money printing, instability, mounting debt, shrinking GDP and a tumultuous stock market that has left investors looking for a hedge.
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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:
2014: “Bitcoin is a terrible store of value,” said Jamie Dimon2015: “Bitcoin will not survive”2016: “Bitcoin is going nowhere”2017: “Bitcoin is a fraud”2018: “I don’t really give a shit about bitcoin”
2020: â>https://t.co/rAWTvg2zL3
â Barry Silbert (@barrysilbert) May 12, 2020
“Buy Bitcoin,” Another Billionaire VC Tells Investors Looking to Escape Massive Deflation
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BITCOIN PRICE TARGETING 0K IN NEW MARKET CYCLE | BTC Could Explode 100% and Hit ,000 by May
âĄïžÂ OPM Wealth: http://opm.cryptonewsalerts.net
With the Bitcoin price crossing $10,000 for the first time this year, Crypto trader and strategist Joe Saz says we are now firmly in the disbelief phase of a new long-term Bitcoin (BTC) bull market, with market participants struggling to wake up and believe the bear market is actually over.
âIâve been talking about Bitcoin having been in a disbelief run or phase of the bull market, and I think thatâs still happening right now.â
In a new interview with BlockTV, Saz talks about how high he thinks the BTC price can go in this current bull run.
âMy intense bullish projection is around $300,000 Bitcoin until this market bubble bursts. So I think weâre going to have another bubble, probably in two to three years from now. I think Bitcoin is going to break six figures by far, and $300,000 is my estimation, probably more like the mid $300Ks. But I think this is the bull run that takes us to those beautiful numbers.â
However, the trader says it wonât be a straight shot to the moon. Saz believes there will be a 30% to 40% pullback before the halving or at the time of the halving.
âIt could happen as early as April. We do have tax season so who knows there could be a lot more upward pressure on the price through tax season as weâre entering that proximity and closing that distance to the halveningâŠ
$14,500 is my low target by April. At this point, itâs looking like a low target. But overall, I think we have a couple of pullbacks along the way but I believe this is the bull market thatâs going to take us to six figures.â
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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 Starts Vertical Rally To $11.5K and $12K: Uptrend Isnât Over Yet
Hereâs Why Bitcoin Price Could Explode 100% and Hit $20,000 by May
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Bitcoin Price Is Likely to Plunge to #post_titleK, Says Silk Road Founder | BTC Halving 2020 Countdown
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Forget about $100,000. âDread Pirate Robertsâ Ross Ulbricht expects the Bitcoin price to plunge to $1K before another bull run.
Ross Ulbricht, the founder of the infamous Silk Road dark web marketplace, has spotted âa strong signalâ for lower BTC price.
According to his new price analysis that relies on the Elliott Wave theory, the Bitcoin (BTC) price could plunge to as low as $1,200.
Ulbricht states that BTC is currently in the last stage of its first cycle degree bear market. Wave II is comprised of three primary-degree waves, with wave C being the largest one.
It is not clear how low wave II can go, but Ulbricht notes that the two previous bear markets resulted in 86 percent and 94 percent drawdowns, which means that there is more pain in store for the bulls. Hence, he notes that a similar price plunge could take Bitcoin all the way down to $1,200.
According to Ulbricht, itâs hard to estimate the duration of this bear market, but, based on the historical data, it could end this June.
âEstimating the extent and duration of wave II is difficult and imprecise. There is no limit to how low it can go (except $0) because wave I started at $0.â
Ulbricht also says that Bitcoin could invalidate this bearish scenario is its price surges back above $14,000 (its 2019 high). However, this turnaround seems âunlikely to him.â â
If the price rises above the peak near $14,000, we will have to reevaluate our interpretation, but at this point that seems like a very unlikely scenario.â
Back in December, Ulbricht predicted that BTC could surge to $100,000 in 2020, but the drop below the start of wave 2 ($4,200) on March 12 made such a bullish scenario improbable.
However, if BTC were to drop to this level, Ulbricht would view it as a âmajor buying opportunityâ before the start of wave 3.
Bitcoin (BTC) Halving Searches Breakout With Biggest Event in Crypto Just 30 Days Away
The Bitcoin halving countdown has reached the one-month mark with estimates targeting 29-31 days left to go.
The BTC halving event will reduce the amount of new Bitcoin entering the circulating supply by dropping mining rewards by 50%.
The event has triggered increasing interest as central banks resort to money printing to counter the economic blow of coronavirus.
âBitcoin halving countdownâ, âBitcoin halving price chartâ and âBitcoin halving clockâ are all currently trending on Google as breakout searches in the US. âBitcoin halving predictionâ, âBitcoin halving price predictionâ and âBitcoin halving 2020â are all breakout searches worldwide.
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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://medium.com/@RossUlbricht/bitcoin-by-ross-9-a-strong-signal-for-lower-prices-87d2cdcdba95
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