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New Bitcoin millionaires will be minted⊠likely even BTC billionairesâŠ
We will soon see another bull run in Bitcoin and Cryptos of a magnitude that will put even the dot-com bubble to shame. And weâre already seeing the first signs.
In fact, thanks to a single metric â scarcity â BTC could be worth 16 times as much as it is today, surpassing $1 million per coin in the years to come.
In other trending Bitcoin News today: Plan B Updates BTC S2F Model Year-End Price Prediction!
PlanB recently shared an update about the S2F model where he cut down Bitcoinâs price prediction to $100k by the end of December.
âAs you know S2F model predicts ~$100K average this halving cycle (white line). I dumbed that down to â$100K Dec 2021 closeâ because to make $100K average, mid-cycle we should be above that average. My floor model (not S2F) predicts $135K Dec close: roughly in line with S2F model.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:
https://stansberryinvestor.com/articles/stansberry-digest/how-bitcoin-goes-to-1-million-5
PlanB updates Bitcoin S2F model, slashes projected price level by 2021 end
https://cointelegraph.com/news/breaking-the-bitcoin-network-welcomes-taproot-soft-fork-upgrade
https://cointelegraph.com/news/bitcoin-sets-up-nail-biting-weekly-close-after-taproot-goes-live
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TWITTER CEO: BITCOIN IS STILL THE MOST VIABLE INTERNET-NATIVE CURRENCY!! BTC PRICE PREDICTION!!
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The world of Bitcoin and Cryptocurrency moves at a whirlwind pace but the Twitter / Square CEO Jack Dorsey remains committed to BTC.
In an interview with Reuters on Sept. 10, Dorsey, who also founded the mobile-payment platform Square, said he believes Bitcoinâs potential still outshines later developments:
âI think the internet warrants a [âŠ] native currency and [âŠ] Bitcoin is probably the best manifestation of that thus far. I canât see that changing given all the people who want the same thing and build it for that potential.â
Dorsey connected BTCâs founding principles with the cooperative and decentralized ethos that he considers to be the driving spirit behind the web:
âThe internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.â
Dorsey lauded the fact that âanyone with a great ideaâ who wants to be part of Bitcoin can join the community â they âdonât have to be part of a company,â he said.
Dorsey appeared committed to both Bitcoin and the internet in an idealized form â free from the specters of oligopoly, the excesses of corporate and government surveillance, and the stubborn asymmetries of power and capital that the advocates of decentralization must necessarily wrestle with.
Consistent with this belief in the possibility for grassroots control over the cryptocurrencyâs â and the internetâs â future direction, Dorsey told reporters that itâs important to focus on improving usersâ experience of Bitcoin in order to foster its widespread adoption.
In other trending Bitcoin News today:
Bitcoin Price Prediction: BTC Crucial Liftoff to $12,200 â Discovering On-Chain Metrics
The flagship cryptocurrency is currently stuck in consolidation.
The sluggish price movement comes after recovery from the recent dips under $10,000.
On the upside, BTC is limited under $10,400.
Meanwhile, the Bollinger Band highlights that ongoing consolidation is nearing an end.
As the Bollinger Bands squeeze, volatility continues to build.
Therefore, BTC could be heading into a period of high volatility and drastic price movement, but in which direction would be the breakout?
According to Timothy Peterson, CAIA manager at Cane Island Alternative Advisors, every time Bitcoinâs â30-day return hits this lower threshold (we are very close now), it is usually followed by 30-day gains of 20 â 40%.â
In other trending Crypto News today:
CNBCâs âMad Moneyâ Host Jim Cramer Is Finally Buying Bitcoin
According to popular Bitcoin bull Anthony Pompliano, he just convinced âJim Cramer to buy Bitcoin.â
The details of the interview are not out yet, but Pompliano remarked in his replies that the financial analyst and investor âunderstands the benefit of Bitcoin better than most.â
âJust convinced Jim Cramer to buy Bitcoin. Reply to this tweet with your best meme or gif to welcome the worldâs newest Bitcoinerâ
Cramerâs comments come a year after he was openly hesitant to buy Bitcoin. Responding to a follower that asked if he thinks itâs logical to have 60% of his wealth in stocks and 40% in BTC, Cramer wrote:
âMad Money into bitcoin? Hmmm.. not top of mind. but then again, it is YOUR mad money so you must do what you think is right.â
These comments, though, also come after he stated that Bitcoin could reach $1 million in 2017.
He purportedly said on Squawk on the Street,â another CNBC show, that the cryptocurrency had room to rally exponentially to the upside because of its decentralized nature.
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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:
Just convinced @jimcramer to buy Bitcoin.
Reply to this tweet with your best meme or gif to welcome the worldâs newest Bitcoiner đ„
â Pomp đȘ (@APompliano) September 10, 2020
CNBCâs âMad Moneyâ Host Jim Cramer Is Finally Buying Bitcoin
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BITCOIN NEXT TOP COULD BE $306,000, KRAKEN RESEARCH SUGGEST!! $1 MILLION BTC PRICE PREDICTION!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Analysis of Bitcoin price action dating back to 2011 suggests the coin price could next top out somewhere between $75,000 and $306,000, research from Kraken shows.
Based on one reading of a logarithmic growth curve that connects historical tops and bottoms, a BTC price of $75,000 would signal Bitcoinâs entry into overbought territory, marking the end of its current bull run.
âBased on previous cycles, Bitcoin could likely continue appreciating gradually in price before ultimately going parabolic and hitting resistance, which will signal the end of its fourth bull market cycle,â the report states.
Analysis of historical price retracements throws up some even bolder predictions. All things being equal, if BTC were to continue along its current growth curve and then enter a retracement similar to prior market crashes, the next bottom would be somewhere around $30,000.
Based on this proposed bottom one can attempt to make predictions about the next market peak, depending on the extent of the retracement.
Were Bitcoin to retrace 70% during the current cycle, the coin price would have to reach a peak of $102,000 in order to hit the aforementioned bottom of $30,000.
Similarly, a 90% crash would place the next top at $306,000, while an 86% drop â the average retracement of previous market cycles â would imply an upcoming market peak of $221,000. Either way, states the report, history would suggest Bitcoin remains âfar and awayâ from a market top.
Diving into the historical data once more, the first quarter of 2021 proved to be the third-best performing quarter in Bitcoinâs 12-year existence, based on return percentage and annualized volatility.
Krakenâs research shows that March has historically been a bad month for Bitcoin, with the coin price appreciating just twice during this period since it began trading. In the past, March has, on average, underperformed Februaryâs growth by 11%.
The report also notes that Bitcoin is now trending in a manner similar to the first quarter of 2013 â the most fruitful Q1 in the coinâs history. A correlation of 0.82 between the two is an encouraging sign and could subvert the historic trend which sees Bitcoin underperform in March.
Bitcoin recorded five consecutive months of positive returns leading up to the time of publication. Thatâs a sight witnessed just once before â in 2017 during the lead up to that yearâs bull run and subsequent market peak.
In other trending Bitcoin News today:
Kraken CEO Reveals $1 Million Bitcoin Price Target â Hereâs When It Could Happen
Kraken CEO Jesse Powell believes that Bitcoin is set to hit the seven-figure mark.
In a new interview with Bloomberg TV, Powell bets that Bitcoinâs price will grow by roughly 2,000% within the next decade and says it could eventually replace other dominant world currencies.
âSo you know the people that are believers in Bitcoin say itâs going to replace all of the worldâs currency, so basically whatever the market cap of the dollar is or the euro all of that combined is what bitcoin could be worth.
In the near term, people see it surpassing gold as a store of value, so I think $1 million as a price target within the next ten years is very reasonable.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 went from $10K in Oct to $50K in Feb. Do you realize that if we do that same 5x in 5 months, then BTC is $250K in July đ„
â PlanB (@100trillionUSD) March 5, 2021
BitGo has revealed that it holds $250 million in #Bitcoin on its balance sheet.
The digital asset infrastructure company has held #BTC since 2014
â Bitcoin Archive đđđ (@BTC_Archive) March 6, 2021
As a #Bitcoin sovereign individual the number of people Iâm obligated to interact with is very small. This is an underrated luxury.
â Max Keiser (@maxkeiser) March 5, 2021
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KRAKEN PREDICTS IMMINENT ,000 BITCOIN (BTC) RALLY!! CHAINLINK TARGETING BY END OF 2020!!
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Major United States-based crypto exchange Kraken has released a report predicting that the Bitcoin (BTC) price will rally by between 50% and 200% in the coming months.
The report notes that Bitcoin posted a 21-month low for volatility on July 24 of just 23%, and stated that BTCâs 12 historic volatility lows (of between 15% and 30%) have typically been followed by a rally of 140% on average.
With August usually the third-most volatile month for BTC price fluctuations, Kraken is predicting that upward momentum produced by Bitcoin at the end of July will continue for several months to come.
Kraken emphasized that Bitcoinâs recent rally resulted in the second-strongest July for BTC price performance since 2011, noting that July was usually the third-weakest calendar month for Bitcoin.
Bitcoinâs 14.5% jump between July 27 to July 31 drove the monthâs overall performance to a 24% gain, positioning the market for continued momentum, according to Kraken. Prior to the move, July produced what the report describes as a âsuppressed pocketâ of weak volatility.
Ten of the 12 past instances of Bitcoin entering a suppressed pocket have been followed by gains exceeding 196%.
Kraken estimates that 44% of Julyâs total trade volume transpired during the final seven days of the month.
The report also notes that Bitcoinâs rolling 30-day correlation with gold jumped to a one-year high of 0.93 on July 31.
The spike comes after the monthly correlation fell to a 10-month low of -0.66 on July 2, contradicting predictions that gold and Bitcoin would emerge as popular âsafe-havenâ assets and move in-step throughout the COVID-19 pandemic and recession.
In other trending Bitcoin News today:
Analyst: Chainlink Targeting $32 by End of 2020 Amid Booming DeFi Market
ChainLinkâs (LINK) raging bull market may have more upside potential, according to one alternative investment analyst.
Timothy Peterson, a chartered financial analysts, says LINK, which is now the sixth-largest cryptocurrency after posting gains of over 500% in a year, appears ready to continue its parabolic rally and move higher by the end of 2020.Â
âDid some quick analysis of Chainlinkâs network growth rate and historical deviations in price put LINK at $32 by end of year.â
At that price, however, Peterson stresses that LINK would have difficulty sustaining itâs bullish momentum.
âInvestors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.â
ChainLink is a decentralized oracle network that connects real-world data such as interest rates and exchange rates to smart contracts on the blockchain.
The boom in the decentralized finance (DeFi) over the last few months has helped fuel the growth of parallel projects like ChainLink.
Michael Anderson, the co-founder of Framework Ventures, tells Forbes that the importance of oracle networks has become more apparent now that billions of dollars are locked up in DeFi products that rely on smart contracts.
âWe believe the value of LINK will track the value of the smart contract platform it is securing, meaning the long term market cap of LINK will eventually be larger than Ethereumâs current market cap today.â
DeFi Pulse shows that from early June, the total value locked in DeFi protocols grew from a little over $1 billion to almost $5 billion.
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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:
6/ The move above $11K is also significant because it:
+ Breaks #BTC out of its 2.5-year âpennantâ formation (what many believe to signal the next bull market cycle)
+ Makes a higher-high in the macro trend
+ Enters territory #Bitcoin has only occupied for 2.5% of its lifetime pic.twitter.com/j3Bw5EzSg9
â Kraken Exchange (@krakenfx) August 11, 2020
Did some quick analysis of #chainlink‘s network growth rate and historical deviations in price put $LINK at $32 by end of year, but that price would not be sustainable. Investors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.
â Timothy Peterson (@nsquaredcrypto) August 9, 2020
Chainlink (LINK) Soars 30% To New ATH, Dethrones Bitcoin Cash Spot
Analyst: Chainlink Targeting $32 by End of 2020 Amid Booming DeFi Market
https://www.coindesk.com/coinbase-to-offer-bitcoin-backed-loans-to-us-customers
https://cointelegraph.com/news/boom-kraken-predicts-imminent-bitcoin-price-rally-of-up-to-200
https://kraken.docsend.com/view/grpqdjb9c3h59i87
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