HOW BITCOIN GOES TO $1 MILLION PER COIN!! PLAN B UPDATES BTC S2F MODEL YEAR-END PRICE PREDICTION!!

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Blockchain data provider Glassnode says a Bitcoin signal that preceded a monster BTC rally that saw gains of over 9,200% between 2015 and 2017 is back.

According to analyst, DeFi is the one big catalyst that can send Ethereum (ETH) to a valuation of $9,000 per coin.

The on-chain market analysis firm says the Puell Multiple is hovering at a level that may offer a stellar risk-reward ratio.

“The Bitcoin Puell Multiple has dropped back into the green ‘buy’ zone after almost three weeks. For investors with long-term time horizons, these levels below the 0.5 line have historically marked excellent entry points into BTC.”

The Puell Multiple predicts boom-and-bust cycles from the standpoint of miner profitability by dividing the daily supply of Bitcoin in US dollars by the 365-day moving average of BTC’s daily issuance value.

Based on Glassnode’s chart, long-term investors who buy and hold whenever BTC’s Puell Multiple falls below 0.5 have historically seen significant gains.

The indicator flashed just as BTC bottomed after the coronavirus-induced selloff in March.

The technical signal also marked the bottom in 2019, 2015, and 2012. Meanwhile, analysts are contemplating the odds that the decentralized finance (DeFi) movement will fuel an Ethereum bull run.

Joseph Todaro, managing partner at digital asset management firm BlockTownCap, says he believes DeFi is the one big catalyst that can send Ethereum (ETH) to a valuation of $9,000 per coin.

“In 2017 ICOs aided in moving ETH beyond $100 billion marketcap. In this next cycle, Defi will likely help push ETH to $1 trillion marketcap”

Former Wall Street bond trader John Todaro echoes Joseph Todaro’s sentiment.

TradeBlock’s head of research says he expects ETH supply to plummet as more tokens are locked in DeFi platforms.

“There’s a lot of excitement around new DeFi tokens. Reminder that most of that collateral locked up across those platforms is in Ethereum. As that outstanding ether supply comes down and demand from DeFi platforms hits escape velocity, ETH will rally hard.”

In other trending Bitcoin News today:

Staggering $35,000,000,000 in Bitcoin (BTC) Is Forever Lost, Reports Chainalysis

Blockchain analytics firm Chainalysis says 3.72 million Bitcoin worth $35 billion is lost and will likely never be recovered. In a new report, Chainalysis says 20% of Bitcoin’s total supply has not moved for five years or longer – a number the firm categorizes as lost BTC, meaning that the owner no longer has the private keys required to access their holdings.

It considers approximately 11.1 million BTC – out of Bitcoin’s total supply of about 18.6 million BTC – to be long-term investments. Meanwhile, the company says less approximately 19% of the Bitcoin mined – around 3.5 million BTC – are actively used for trading.

The report says around 340,000 people are actively trading BTC each week. While the firm can’t identify individual traders, it can look at the amount that they transfer to crypto exchanges to make a distinction between retail and professional traders.

Chainalysis says retail traders are those who deposit less than $10,000 worth of BTC to exchanges at a time.

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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:

In 2017 ICOs aided in moving ETH beyond $100 billion marketcap

In this next cycle, Defi will likely help push ETH to $1 trillion marketcap

— Joseph Todaro (@JosephTodaro_) June 16, 2020

$BTC monthlyWith or without a final rally, the remainder of the summer seems to be for a correctionEither July becomes a May ’19 like rocket candle (or inverse Nov ’18 like)Or, if not, I think we’ll sell-off to 6K range throughout summer

Still long – waiting for movement pic.twitter.com/aoIiU3lOli

— //Ethereum 𝕵ack 🐾 (@BTC_JackSparrow) June 21, 2020

https://dailyhodl.com/2020/06/22/staggering-35000000000-in-bitcoin-btc-is-forever-lost-reports-chainalysis/

https://cointelegraph.com/news/calm-before-the-storm-5-bitcoin-price-factors-to-watch-this-week

https://dailyhodl.com/2020/06/22/bitcoin-btc-signal-that-preceded-9200-rally-just-flashed-as-analysts-plot-ethereum-and-xrp-trajectories/

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High-profile crypto strategist Peter Brandt says Bitcoin appears to be setting up for a big move that will propel the BTC price to a new all-time high.

The veteran trader tells his 364,000 Twitter followers that he sees Bitcoin ending its multi-year bear market en route to a surge of 400%.

“That is actually where my head is. Massive symmetrical triangle in BTC points to ATHs, then $50k”

The top cryptocurrency briefly climbed above psychological resistance of $10,000 on Sunday.

Brandt also sees the possibility of a long-awaited breakout for XRP.

“XRP/BTC forming a possible inverted H&S bottom. Maybe Ripple Labs, the bag holder, will be able to pull a cat out of the bag.”

Another closely-followed crypto analyst who goes by the name The Crypto Dog tells his 203,000 Twitter followers that he believes the XRP/BTC pair is on the cusp of a new uptrend.

“This is literally the very beginning for XRP. Let it ride.”

In other trending Bitcoin News today:

Ethereum Price Hits 2020 High: Key Reasons Why ETH Outperforms Others

The price of Ethereum (ETH) has reached a new yearly high at $322, surpassing the previous high achieved in February 2020.

Three key catalysts are seemingly behind the ETH rally. Since early 2020, the anticipation of Ethereum 2.0, which would enable staking for users, pushed the demand for ETH upward.

Staking allows users to receive incentives when miners are eliminated from the Ethereum network.

A proof-of-stake consensus algorithm does not need miners on the protocol.

Instead, users with a stake in ETH collectively process data and information through staking.

In return, they receive rewards in the form of ETH.

After the so-called “Black Thursday” correction on March 13, when ETH briefly dropped below $90, the DeFi market began to expand rapidly.

When new protocols, like Compound, introduced their incentive systems, the demand for decentralized finance increased even further.

In May, less than $1 billion was locked in DeFi platforms. As of July 26, more than $3.75 billion is locked across various DeFi protocols.

The optimism around DeFi and Ethereum 2.0 eventually led to Ether spot and options markets setting record high volume and open interest.

Since the start of the second quarter, the ETH options market has continuously soared to new highs in terms of trading activity.

Consequently, it intensified the uptrend of ETH in a short period. Cryptocurrency on-chain market data analysis firm Santiment said ETH broke out of $300 for the 42nd time in history.

An upsurge above $350 would be significant, according to researchers, because it has only happened three times in the past. Santiment stated in a tweet:

“It’s clear that Ethereum is sitting in its ‘sweet spot’ where the most polarization has historically unfolded (between the $200 and $300 levels) during its five year history.”

Based on the technical market structure of Ether, some traders said that $308 and $400 remain as the key short-term resistance levels.

Michaël van de Poppe, a Cointelegraph contributor and a full-time trader at the Amsterdam Stock Exchange, said in a tweet that ETH has increased higher than expected:

“Going a little higher than the plan initially was, a month ago. But we’re doing fine. Might be on the resistance at the $308 level. But that’s basically final hurdle before $400+, to me.”

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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:

That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k

— Peter Brandt (@PeterLBrandt) July 25, 2020

https://www.coindesk.com/research/reports/ethereum-2-0-how-it-works-and-why-it-matters

https://cointelegraph.com/news/ether-price-hits-2020-high-key-reasons-why-eth-outperforms-others

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A crypto strategist who sent an early warning about the Bitcoin (BTC) big correction last year is back with another bold prediction.

Dave the Wave is highlighting a new outlook from entrepreneur and Bitcoin investor Bob Loukas, who expects BTC to crater at the end of the current bull cycle.

Dave predicts that after the current bull market, Bitcoin will go through a “solid correction” for a few years before restarting a new boom cycle that will catapult the leading cryptocurrency above $280,000 at the end of 2027.

BTC investor Bob Loukas tweeted:

“To date, cryptofinance remains a laughed at and obscure market on the fringe of finance. Near the top of the next great Crypto bubble, market cap and penetration will hit ‘warning levels’ that concern the financial establishment.

In response, I believe you’re going to see coordinated full attack that will send crypto into savage + prolonged bear market. (Time+Price) Of course, it will adapt. Engineers will dig deeper. And in many ways, that act will serve as its right of passage.”

In the short term, however, Dave is telling is 38,000 followers that the month-long Bitcoin correction may be coming to an end as technical indicators flash bullish signals.

“Third time lucky?”

The crypto strategist is also keeping a close eye on the performance of a select group of altcoins, which includes Ethereum (ETH/USD), Chainlink (LINK/USD), Cardano (ADA/USD), NEO (NEO/USD), Monero (XMR/USD), and Tezos (XTZ/USD).

Based on Dave’s chart, Chainlink has been the best performer since the 2018 bear market bottom, and it is closely followed by Ethereum, Cardano, NEO, Monero, and Tezos.

Dave compares the long-term timeframe charts of Ethereum and Bitcoin (BTC/USD).

By doing so, according to the trader, Ethereum is poised to explode as it is a full bull market cycle behind Bitcoin. “And the fuller history… suggesting ETH a cycle behind.”

In other trending Bitcoin News today:

THREE KEY REASONS WHY BITCOIN’S MACRO CHART IS STILL BULLISH

Bitcoin’s macro trend remains bullish despite its inability to hold above crucial technical levels during the summer rally.

One crypto-asset analyst recently shared a series of charts and tweets showing that there are multiple reasons to be bullish on Bitcoin from a macro time frame.

Three of these reasons are as follows:

– Bitcoin has flipped the middle of the macro 1,000 range into support, meaning it looks primed to test range highs at $14,000.

– Bitcoin recently broke the multi-year downtrend that originated from the $20,000 all-time high set in December 2017. The downtrend was even retested by Bitcoin in late July, suggesting that it is acting as support. BTC breaking this trendline is important as it acted as resistance in 2019.

– BTC retraced to the “golden pocket” Fibonacci Retracement level in March, suggseting there will be an “impulse wave” towards all-time highs over time.

Underlying on-chain trends agree with the positive sentiment put forth by the aforementioned trader.

Glassnode reported that the number of BTC whales has been on a strong incline since the 2018 lows:

“The number of Bitcoin whales (entities holding ≥ 1K BTC) has been on an upwards trend for the past months. An indication that more high-net-worth individuals are entering the space to invest in Bitcoin in expectation of $BTC price appreciation.”

Other on-chain trends supporting Bitcoin growth include an increase in the realized cap and a decreasing number of BTC on exchanges, which should support price growth.

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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://dailyhodl.com/2020/10/12/after-calling-one-of-bitcoins-biggest-crashes-this-crypto-analyst-says-btc-will-surpass-280000-heres-when/

Three Key Reasons Why Bitcoin’s Macro Chart Is Still Bullish

https://cointelegraph.com/news/17k-bitcoin-price-a-real-possibility-if-bulls-flip-12k-to-support