I EXPECT BITCOIN TO GO WELL INTO 6-FIGURES THIS YEAR AS BTC DISRUPTS THE WORLD, SAYS STRIKE CEO!!!!

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

Former Wall Street hedge fund manager and prominent investor Mike Novogratz recently said that the Bitcoin price could break the coveted $10k mark soon and jump to $20,000 per BTC.

He also noted that the digitalization of money had begun worldwide, and the US needs to catch up with other nations such as China.

Novogratz is the CEO of the cryptocurrency investment firm Galaxy Investment Partners and a long-time Bitcoin proponent.

In mid-2019, he predicted that BTC would return to its all-time high price of $20,000 by the end of the year, which didn’t happen.

The primary cryptocurrency descended in value towards the end of 2019, and Novogratz made another forecast that it will finish 2020 at about $12,000.

In a recent interview, however, he appeared much more bullish regarding the upcoming price developments.

While he refuted any assumptions that Bitcoin could displace the dollar as the main currency in the US anytime soon, he noted that people are turning to BTC and gold for the same reasons, which could ultimately boost the prices:

“Why are people buying Bitcoin? They are buying it because of the same reason they are buying gold. Gold is on the highs, Bitcoin has come from being sold-off below $5,000, and it’s back at almost $10,000. Because people worry that the Fed and the Treasury are printing and buying too many dollars. We got this unholy alliance between huge fiscal stimulus by the Treasury and the Fed financing the whole thing.”

Therefore, as excessive amounts of USD continue to flood the economy, the dollar could experience a massive devaluation, Novogratz added.

To fight these adverse consequences, people “are using Bitcoin as a hedge for that.”

As such, he continued that “it will surprise me if we don’t take down that $10,000 soon, and after that, you are going to see $14,000 and then $20,000.”

Novogratz also touched upon the topic of transitioning into a financial system entirely dominated by electronic transactions. He said that 93% of all transactions in China are completed electronically, while the US seems to be falling behind.

“We’re moving into a digital era. And we’re still talking quarters vs. nickels. We need to get our act on the ball fast, or the US is going to fall way behind.

In other trending Bitcoin News today:

PayPal Bitcoin Rumor Boosts $12K BTC Price Rally Chances

Sudden suggestions that Bitcoin support is coming to PayPal and Venmo is causing traders to reassess the likelihood of a BTC price bull run.

Bitcoin (BTC) coming to PayPal and Venmo may be just a rumor, but some of the cryptocurrency’s best-known names are turning bullish.

As the news hit that the payment processor was allegedly planning crypto buying and selling for its 305 million users, BTC/USD spiked to test resistance at $9,600.

Despite PayPal declining to confirm its plans, a wave of optimism has since flooded social media, with various figures welcoming the move while highlighting its irony.

“Slowly, then suddenly,” the Bitcoin Twitter account summarized. For RT host Max Keiser, the move appeared tied to competitive advantage. 

Square, the sister company of Twitter, rolled out Bitcoin support with great success last year.

“Bitcoin’s built-in game theory strikes again. Paypal, seeing $SQ making a killing with BTC, is forced to take on BTC or suffer huge competitive consequences,” he tweeted. 

“Global Hash War is coming!”

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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’s built-in game theory strikes again.

Paypal, seeing $SQ making a killing with BTC, is forced to take on BTC or suffer huge competitive consequences.

Global Hash War is coming!

— Max Keiser (@maxkeiser) June 22, 2020

“PayPal seized my bitcoin, how do I get it back?!”

– Some poor pleb in the future

— Jameson Lopp (@lopp) June 23, 2020

https://cryptopotato.com/novogratz-bitcoin-price-to-reach-20000-as-fed-prints-and-buys-too-many-dollars/

https://cointelegraph.com/news/paypal-bitcoin-rumor-boosts-12k-btc-price-rally-chances

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

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/

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

A $1 million Bitcoin price could be in our future a lot sooner than you think. The reality is that BTC is already in heavy use today as a store of value, and this underlying utility of Bitcoin could potentially take its price to $1 million per coin.

The size of the global bond market was recently estimated at $119 trillion. Remember, not all coins are for sale, meaning the total value of the Bitcoin market would be far greater than $20.9 trillion if all of this money were to move into the crypto asset. 

Some estimates put the effect of new buy orders on Bitcoin’s market cap at 25x the value of the purchases, so from this perspective, $1 million looks quite conservative.

In other trending Bitcoin News today: 

Bitcoin (BTC) has recorded its biggest mining difficulty drop of nearly 28% on July 3, but one model suggests that the BTC price will not bottom until October.

In a series of tweets on July 2, investment manager Timothy Peterson flagged the relationship between Bitcoin price and hash rate as arguable evidence that the dip is not over.

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Trezor: ► http://trezor.cryptonewsalerts.net

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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://www.fool.com/investing/2021/06/02/why-a-1-million-bitcoin-price-isnt-crazy/

https://cointelegraph.com/news/bitcoin-mining-difficulty-just-fell-by-a-record-28-but-will-this-help-btc-price-recover