đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Crypto trader and market analyst Lark Davis is looking to the past to see if Bitcoin could hit six figures this year.
Davis says that the current BTC price action is reminiscent of Ethereumâs 2017 bull run.
âIs there precedent for an asset having a massive run up, then a long brutal corrective period followed by a spectacular blow off top later that year? Yes, of course.
Ethereum did almost [exactly] that in 2017, ended the year 237% higher than the âtopâ.â
In other trending Bitcoin News today: Ukraine Unveils Roadmap to Integrate Cryptocurrencies by 2024
Government and business representatives have produced a roadmap to transform Ukraine into a leader in cryptocurrency integration. The authors of the new strategy want to see half of Ukrainians using digital currencies by 2024. The East European nation is expected to regulate its crypto space by the end of this year.
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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://news.bitcoin.com/ukraine-unveils-roadmap-to-integrate-cryptocurrencies-by-2024/
https://cointelegraph.com/news/bitcoin-traders-watch-32k-ahead-of-friday-s-330m-btc-options-expiry
https://cointelegraph.com/news/3-reasons-why-traders-think-bitcoin-price-bottomed-at-29-500
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BITCOIN (BTC) FUND MANAGER: Crypto Could Soon Rally 4,000% To A Trillion Market Cap
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
Bitcoin (BTC) and other top crypto assets are trading far from their all-time highs.
According to data from TradingView, BTC is trading more than 50% below its all-time high, while Ethereum is down nearly 85%.
Most altcoins have registered even worst performances than the two market leaders, crushed as large players cashed out of the market during the 2017/2018 bubble.
Yet this hasnât stopped investors from speculating where this nascent market could end up once the next market cycle peaks.
CRYPTO COULD HIT $10 TRILLION AS RETAIL MONEY FLOODS IN
According to Joseph Todaro â managing partner of crypto-centric fund Blocktown Capital â the crypto marketâs capitalization could reach over $10 trillion in the next cycle as âretail money really starts flowing back in.â
$10 trillion is approximately 4,000% higher than the current aggregate value of digital assets at around $270 billion.
âWhen retail money really starts flowing back into crypto I wouldnât be surprised to see a $10T+ market topâ
In context, $10 trillion is a fair sum of value in the grand scheme of things.
Blockforce Capital chief executive Eric Ervin shared the chart below on June 9th, showing that the total market capitalization of the S&P 500 is $27.8 trillion.
At $10 trillion, crypto would be just over one-third of the current value of some of the most valuable companies in the world, including Apple, Microsoft, Facebook, and Amazon. $10 trillion is also around 50% of the U.S.âs national GDP in 2019 or around 10-12% of the global GDP.
Importantly, though, just because cryptoâs market cap may reach $10 trillion may not mean that $10 trillion greenbacks have been deposited into Bitcoin exchanges.
Due to what is known as a fiat amplifier, which means that $1 worth of Bitcoin purchased may push up its market cap by more than $1, a $10 trillion industry may not be as hard to achieve as some may expect.
The expectation is that all cryptocurrencies will rally in the upcoming market cycle, but prominent names in the space expect the gains to be concentrated in Bitcoin.
Raoul Pal, chief executive of Real Vision and a former Goldman Sachs executive, has spoken on the matter on a number of occasions.
The investment veteran has said that he sees a world of cryptocurrency and blockchain as the future, but sees Bitcoin as the âcall optionâ on that potential world coming to fruition.
Thatâs to say, if cryptocurrencies go mainstream, BTC will likely be the one leading the charge.
In other trending Bitcoin News today:
Bombshell Report Shows 36% of Institutional Investors Already Own Crypto Assets Such As Bitcoin and Ethereum
A new survey from the global asset management giant Fidelity shows 36% of institutional investors already own crypto assets.
Four out of five investors who are not yet in the market say theyâre interested in holding cryptocurrency in the future and find at least one aspect of the emerging technology appealing.
âAlmost 80% of institutional investors find something appealing about digital assets, with the three almost equally compelling characteristics across U.S. and European investors being: uncorrelated to other asset classes (36%); an innovative technology play (34%); and high potential upside (33%).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:
When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top
â Joseph Todaro (@JosephTodaro_) June 10, 2020
Fund Manager: Crypto Could Soon Rally 4,000% to a $10 Trillion Market Cap
https://cointelegraph.com/news/report-less-than-6-accounts-control-80-of-wealth-on-top-stablecoins
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âBitcoin Could Go to âBitcoin Could Go to $1,000,000â Says Krakenâs Head of Business | BTC Model Predicting $100K by 2021,000,000â Says Krakenâs Head of Business | BTC Model Predicting 0K by 2021
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
Kraken Head of Business Dan Held explains why he believes the Bitcoin (BTC) price could reach $1,000,000.
Dan Held has been involved in crypto since 2013. In his latest interview with Cointelegraph, he dives into the early crypto meetups in San Franciscoâs Mission District and explains how the price of one BTC could eventually reach a million dollars.
Bitcoin will become âvery boringâ Bitcoin is famous for its volatility, but Held thinks that wonât always be the case.
He believes Bitcoin to be digital gold. With that thesis comes the expectation that there will be immense growth in the assetâs market capitalization.Â
âBitcoin in its final stages decades from now will be something very boring. Like our grandkids will go, âGrandpa, Grandma, I only hear about Bitcoin. Everyoneâs got Bitcoin.â Itâs like, who cares? Like itâs a boring investment. Itâs like holding cash.â
Held predicts Bitcoin to hold from $5Â trillion to $100 trillion dollars of value in its âfinal stages.â
This would result in a transformation from a highly volatile asset to a âvery boringâ currency. Heldâs belief in Bitcoin is unshakeable.
Heâs seen his net worth go up and drop 80% three times. And yet, 90% of his current net worth remains in Bitcoin.
His unwillingness to diversify his portfolio comes from a staunch belief that blockchain technology is only useful for Bitcoin.
âSatoshi purposely built blockchain tech to build Bitcoin. Blockchain tech sucks. Itâs terrible. It makes so many tradeoffs to build Bitcoin that it is basically ineffective for almost anything else.â
Under this line of thought, which he calls âBitcoin minimalismâ to spite Vitalik Buterin, he doesnât see a reason for altcoins to exist.
To Held, altcoins are just experiments that have yet to prove blockchain is useful for anything but Bitcoin.
In other trending Bitcoin News today:
Sparks Fly as Critics Question Bitcoin Model Predicting $100,000 by 2021
The Bitcoin Stock to Flow (S2F) model created by the pseudonymous analyst âPlanBâ has been a controversial subject over the past year.
A majority of cryptocurrency investors on Twitter seemingly believe in the model, though itâs increasingly come under fire.
Debate about PlanBâs work has come to a head over the past few days as prominent commentators have chimed in.
The model predicts that after 2020âs block reward halving, BTC will rise to a market capitalization of $1 trillion.
That corresponds with approximately $55,000 per coin. It has since been updated with a new regression formula that suggests Bitcoin will reach $100,000 in 2020 or 2021.
PlanBâs updated iteration of the model has a high R squared value of ~95% and is purportedly âcointegratedâ with BTCâs price.
Statistics lingo aside, the S2F modelâs proponents say that this is a confirmation that the model has credence.
âWhy are people dunking on the s2f model just a few difficulty adjustments past the halving? The prediction was that BTC will be $100k before the end of 2021. Declaring victory now is like declaring victory 5 minutes into the game.â â Jimmy Song
âSo far, the arguments âdebunkingâ S2F for BTC appear to be just random word-salads by attention seekers. S2F is a valid and vital analysis of Bitcoin price that provides excellent insight into the market.â â Max Keiser
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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 this interview I debunk these arguments:â “S2F is invalid because it doesn’t work for altcoins”
â “Scarcity doesn’t give something value. I own a pair of socks my grandma made of which only 1 pair exists in the world. How valuable does that make them?”https://t.co/YS1pQiVsBs
â PlanB đŽ (@100trillionUSD) July 3, 2020
Why are people dunking on the s2f model just a few difficulty adjustments past the halving?The prediction was that BTC will be $100k before the end of 2021.
Declaring victory now is like declaring victory 5 minutes into the game.
â Jimmy Song (ìĄìŹì€) (@jimmysong) July 2, 2020
So far, the arguments âdebunkingâ S2F for BTC appear to be just random word-salads by attention seekers.
S2F is a valid and vital analysis of #Bitcoin price that provides excellent insight into the market. https://t.co/diqJfThIg3
â Max Keiser (@maxkeiser) July 3, 2020
Sparks Fly as Critics Question Bitcoin Model Predicting $100,000 by 2021
https://cointelegraph.com/news/krakens-head-of-business-bitcoin-could-go-to-1-000-000
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THIS ONE CATALYST CAN SEND BITCOIN INTO THE STRATOSPHERE!! 3 REASONS BTC DONâT CARE ABOUT ELON MUSK!
đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
CryptoQuant CEO Ki Young Ju is naming one catalyst that he says could send the Bitcoin price into the stratosphere.
âNYSE (New York Stock Exchange) listed the first gold ETF in Nov 2004, and the price never came back. Many economic factors have affected the gold price, but listing ETF would have played a major role in the inflow of global institutional funds. We may never see this BTC price again once ETFâs approved.â
In other trending Bitcoin News today: 3 Reasons Why Bitcoin Doesnât Care About Elon Musk! Tempers are running hot in the latest round of Bitcoin FUD, but a longer-term perspective reveals âbusiness as usualâ for BTC. Bitcoin dived 17% when Tesla CEO Elon Musk criticized its energy consumption â but itâs already bouncing back.
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Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
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/3-reasons-why-bitcoin-doesn-t-care-about-elon-musk
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