I’M VERY CONFIDENT BITCOIN IS GOING TO HIT $322,000 THIS YEAR SAYS CRYPTO TRADER BITBOY CRYPTO!!

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The TRON (TRX) network showed statistics out of the ballpark in comparison to Ethereum and EOS.

A study conducted by AnChain shows there is overwhelming bot activity on the TRON network, made possible by the very protocol for producing TRON blocks through Super Delegates.

New analysis shows that the reported activity of TRON distributed apps may be the result of deliberately deployed bots.

“Analyzing the Top 10 gambling Tron DApp transactions in Q1 2019, we have determined that blockchain bots contribute to 30.7% of unique accounts and 19.3% of transactions,” the team discovered.

In other Crypto news:

Bulls push the Bitcoin Price to a 2-Week High, is $9,700 Next?

Are Altcoins ready to explode?!

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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.

News Resources From Today’s Show:

TRON (TRX) is Overrun With DApp Bots, Research Shows

https://cointelegraph.com/news/bulls-push-bitcoin-price-to-a-2-week-high-is-9-700-next

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With the infamous Bitcoin Halving now less than 8 days away, BTC is approaching the most eagerly anticipated moment in its history, and markets are feeding the excitement after weeks of gains.

Bitcoin is just days away from a historic crossroads this week — what will the coming days have in store for traders and hodlers?

Let’s take a look at the major factors influencing the Cryptocurrency market just over a week before Bitcoin’s third block reward halving.

This immediate 50% drop in supply should have considerable knock-on effects for demand, especially taken against the historical precedent of the previous two halvings.

The impact is neatly summarized by Bitcoin’s stock-to-flow price model, which suggests that major price movements should come 1-2 years after the halving.

Bitcoin continues to exhibit some copycat price behavior which tracks movements on major stock markets. 

As of Sunday, futures for the S&P 500 and Dow Jones among others were tanking 3%, which soon translated into a fresh price dip for BTC/USD.

At press time, the pair traded at around $8,700, down 3.7% on the day, having bounced off support at $8,500. 

Coronavirus continues to weigh on sentiment, as the United States and China spar over the pandemic’s origins and handling, sparking trade fears.

Bitcoin’s network fundamentals remain on an upward trajectory despite mixed price action.

Hash rate and difficulty are hovering near all-time highs.

The difficulty is set to increase by a modest 1.4% on May 5 and will be the last such increase before the halving seven days later.

The two aspects of Bitcoin go hand in hand for analysts, as Bitcoin’s automatic difficulty adjustment mechanism prevents manipulation of supply rate, regardless of how much BTC is worth in fiat terms.

In other trending Bitcoin News today:

Same Trend That Marked Start of Bitcoin’s $10,000 Run In 2019 Is Back

After a nearly 20% surge last week, Bitcoin’s weekly candle on Sunday evening closed decisively green at $8,900.

This marked the seventh consecutive weekly gain for BTC, which has posted stellar performances ever since the mid-March capitulation lows.

Although the seven consecutive weeks may mean nothing to readers, it is a strong technical occurrence that may signal that even more upside is on the table for the months ahead.

Zack Voell, a market analyst at CoinDesk, recently noted that Bitcoin closing its seventh consecutive weekly gain hasn’t happened since April 2019, when the last bear market ended.

This would suggest that should history repeat itself, the cryptocurrency is on the verge of yet another bull run.

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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:

$BTC-Mex funding+premium index still negative-Above the yearly vwap -Above the 200 DMA -Bullish 1D cloud-Halving in 10 days

You might not call and short THE top but you’ll save yourself a lot of potential headaches by just waiting for a break in 1D market structure.

— HornHairs 🌊 (@CryptoHornHairs) May 2, 2020

Same Trend That Marked Start of Bitcoin’s $10,000 Run In 2019 Is Back

https://cointelegraph.com/news/halving-stocks-fundamentals-3-things-to-watch-in-bitcoin-this-week

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

The CEO of digital payment platform Abra says Bitcoin could break $250,000 before year’s end, but he also thinks that the crypto markets are overdue for a healthy correction.

On a new episode of What Bitcoin Did with Peter McCormack, Bill Barhydt says he’s looking for potential resistance at the $60,000 level before a massive BTC correction ensues.

“If I look at the tea leaves, we haven’t had a 30% pullback since we went back down to $30,000 when we first got up to $44,000, $43,000, whatever it was, so we’re due for that. If I had to guess, I would say if you look at the upward slope that we’ve been on since December, depending upon how fast we get there, if it’s in February, we could top out just below $60,000 and then easily fall 30% and that would actually wind up the rubber band to probably go to $85,000 to $90,000. That would take us probably through August which if you look at stock to flow (S2F), it’s basically said that’s around the time it should happen and it’s uncanny, I mean it really is uncanny how accurate that model has been.”

Although Barhydt is short-term bearish on Bitcoin, he predicts that the largest crypto asset has more upside potential but its bull market peak may all depend on the rate of adoption of big corporations.

“What’s interesting is once you get to that August timeframe when you start to approach $100,000, PlanB’s two models diverge. Because he’s got the one model, the original stock to flow which says we’re at $100,000 for 24 months basically. And then he’s got his cross-asset model which basically talks about the next phase which says, ‘Hey we get up to $250,000 this year…’

Last December, when I went on, I think, your show and I talked to [Anthony Pompliano] and others, I basically said I think Bitcoin is going to be at $100,000 by the end of 2021. I still think that’s right but I think that if we get a bunch of other Fortune 500 companies making announcements like Tesla, that is going to push this up to a quarter of a million very quickly.”

In other trending Bitcoin News today:

MicroStrategy Prepares To Purchase $1,030,000,000 in Bitcoin After Completing Debt Offering

Business intelligence firm MicroStrategy is gearing up to make an additional purchase of $1.03 billion worth of Bitcoin.

In a new post on the company’s website, the publicly-traded firm announces that is wrapping up its offering of convertible notes in an effort to acquire more funds to buy Bitcoin.

The offering, which closed on February 19th, allows qualified institutional investors to purchase unsecured notes from MicroStrategy which have a maturity date of February 15th, 2027.

MicroStrategy reports earning approximately $1.03 billion from the sale of its notes and plans to use the entirety of those funds to purchase more Bitcoin.

“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy.

MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin.”

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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:

“They say #Bitcoin is the ‘Big Bang’ of money b/c you can only do it once. That’s one of the attributes of it. There’s no imitators to ever come along. You can only create absolute scarcity once, you can only create the multiverse once with the Big Bang.”-@MaxKeiser 🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 21, 2021

If I were to actually buy some #Bitcoin, how would I know when to sell? If your answer is to never sell, then what is the point of buying in the first place?

— Peter Schiff (@PeterSchiff) February 21, 2021

https://cointelegraph.com/news/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week