IS BITCOIN MIMICKING RISE OF AMAZON?! MOST BULLISH MACRO BACKDROP IN 75 YEARS!!

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Bitcoin Price May Rally 4,900% and Hit Half a Million Dollars, Says Fundstrat Analyst Tom Lee – Here’s How

The head of research at Fundstrat Global Advisors, Tom Lee, says Bitcoin (BTC) could rise to half a million dollars in the long run.

In a new interview with Nasdaq, Lee says he stands by his view that the BTC price will hit $40,000 before the Dow Jones hits 40,000.

When asked if Bitcoin will hit $500,000, Lee says he believes a 4,900% increase is possible based on the number of users that ultimately join the network.

“I think in the long term it’s possible because today Bitcoin’s transaction activity is twice that of PayPal, 7x the Discover network. It’s the second-largest transaction network after Visa, and there’s four billion Visa card holders. So if you get to five million Bitcoin users, it’s almost 100x increase in price.”

As for the timeline for such a meteoric rise, Lee says he’s unsure and doesn’t have a crystal ball.

But he does think Bitcoin has a strong use case in the current financial system.

“It’s not like I’m necessarily critical of how financial systems work, but too much money is paid to intermediaries. Today, roughly 6% of all GDP globally is paid to the financial system to manage trust. Bitcoin has been around for 11 years, has never had a single fraudulent activity on its blockchain with $5 trillion of activity. So it works better than the traditional financial system and the cost is vastly lower. Today, you can transmit a million dollars of Bitcoin between countries for $15. That same transaction using remittance counterparties would cost you 5 to 10% of that – $50,000 to $100,000.”

BITCOIN PRICE RETURNS ABOVE $10K, HERE’S WHY:

Bitcoin’s recent golden cross on the daily chart may have driven bullish enthusiasm for the leading crypto to reach a tipping point.

With the upcoming halving, many investors are buying up sub 10K BTC in preparation of the supply-side shock.

Many crypto analysts have predicted when we will never see BTC price under 10K again, but with the golden cross, it may actually be the final catalyst to push Bitcoin’s price into 5 figures permanently.

Bitcoin is often referred to as a deflationary currency due to it’s ever decreasing emission schedule of new coins.

Eventually the economic law of supply and demand will have its impact on Bitcoin’s existing supply, and its decreased production of new coins, causing a rise in prices overall.

As BTC rises in price, we can expect Altseason to really kick into overdrive, due to their heavy correlation with Bitcoin’s price.

We have already witnessed many traders diversifying into alts as BTC dominance has dropped over the last few weeks, dramatically.

Many altcoins have already been outperforming Bitcoin so far this year, acting as leading indicators for the largest market cap coin.

Smart money has been silently taking positions in both Bitcoin and Alts, while prices were down during the crypto winter.

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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.nasdaq.com/videos/marketbrief%3A-the-bull-case-for-bitcoin

Bitcoin Price Returns Above $10K, Here’s Why

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Will the Bitcoin price triple this year to $40,000?

According to Fundstrat Global advisor founder Tom Lee, BTC will break into a new ATH this year that could be around $27,000-$30,000.

Additionally, just two weeks ago, we broke above the 200-day moving average, which means we are back in a bull market.

Historically, on average, this breakout has resulted in six months gains of about 190%.

However, this time Thomas Lee believes the Dow Jones Industrial Average would be the first one to break the 30,000, though Bitcoin (BTC) would be the one to hit $40,000, he said.

“Best evidence that Bitcoin is in a bull market is the denial by those with no exposure… BTFD“

Bitcoin Price Hits $10,500 as Fed Chairman Confirms Crypto Is a Threat to U.S. Dollar The BTC price and the overall crypto market reacted positively after Fed Chairman Jerome Powell recently stressed on the importance of private crypto-based transactions.

He said that the Fed is working on a number of projects for digital currencies. Bitcoin price surged over 5% on Tuesday, February 11th, pushing it to a five-month high above $10,500 levels.

With this move, BTC has surged nearly 50% since the beginning of 2020. This latest price surge comes after the Federal Reserve chairman Jerome Powell expressed his interest in digital currencies.

Congressman Bill Foster raised concerns about China’s aggressive push to the use of digital currencies.

Responding to this, Powell said that the Fed has several projects underway.

This was enough to usher a fresh optimism in the crypto market.

Apart from Bitcoin, a majority of the top-ten cryptocurrencies are showing gains between 5-10%.

The overall cryptocurrency market cap added $20 billion soon after Powell’s comments, taking it to above $300 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:

BREAKING: Fed Chairman Jerome Powell just came out in favor of private transactions for digital currencies.He specifically said “A ledger where you know everybody’s payments is not something that would be particularly attractive in the context of the US.”

Game on 🙏🏽

— Pomp 🌪 (@APompliano) February 11, 2020

https://cointelegraph.com/news/bitcoin-price-tackles-104k-level-as-futures-markets-hit-5-month-high

bitcoin-price-hits-10320-fed-crypto-dollar

https://bitcoinexchangeguide.com/bitcoin-price-could-triple-this-year-and-beat-dow-to-40000/

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Crypto investors and hodlers alike are sitting on the edge of their seats, waiting to see what unfolds with the highly anticipated ‘Bitcoin Halving’ event that is scheduled to take place mid-May. 

Since the Bitcoin (BTC) inception in 2009, the halving (also known as halvening), is an event that takes place roughly every 4 years.

During the halving, block rewards are cut in half, which in turn, limits the supply of bitcoins.

To date, there have only been 2 Bitcoin halvings. From a historical perspective, during previous halvings, each time the Bitcoin price has reached all-time new highs: 

On November 28th, 2012, the first BTC halving occurred, which saw the BTC price increase from $11 to $1,000 around a year later.

During July 2016, the second halving took place and the price of Bitcoin was trading at around $700, and in 2017, the price skyrocketed to $20,000.

The third Bitcoin halving, which is scheduled to take place in May 2020 has seen some lofty predictions on Bitcoin prices.

Billionaire Bitcoin bull Tim Draper believes that the price of one BTC could rise to $250,000; Buffett’s Books founder Preston Pysh thinks that bitcoin could skyrocket to $300,000 after the halving; former Goldman Sachs hedge fund manager Raoul Pal predicts that the price of Bitcoin to hit $1,000,000 within 3 years; and Silk Road founder Ross Ulbricht predicted that it could hit an astronomical price of $333,000,000 per Bitcoin. 

In other trending Bitcoin News today:

Bitcoin Halving Searches Go Parabolic: BTC Price Could Follow For 2 Reasons Firstly, data from Google Trends indicates that there is a muddy yet apparent correlation between interest in the term “buy Bitcoin” and the term “Bitcoin halving,” suggesting the halving is convincing investors to buy BTC.

This assertion can be corroborated by on-chain data from Glassnode, a crypto analytics firm that has indicated two things over the past week:

Long-term Bitcoin investors have been accumulating more and more coins each day as the halving has drawn near.

In fact, they found that the “Bitcoin Hodler Net Position Change” metric just established a fresh yearly high.

There are more than 17,000 “new entities” joining the Bitcoin network each day, which was a level of retail involvement last seen at the start of 2019’s bull run.

This would suggest that should as the halving continues to increase in popularity, so too should the public’s propensity to buy Bitcoin.

Secondly, analyst “PlanB” found that Bitcoin’s price will get a strong boost in the wake of the halving.

The model, accurate to 95% R squared (accurate in statistics lingo), suggests Bitcoin will have a fair value of $50,000 to $100,000 after the halving.

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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 Halving Searches Go Parabolic: BTC Price Could Follow For 2 Reasons

https://www.bloomberg.com/news/articles/2020-04-25/get-set-for-bitcoin-halving-here-s-what-that-means-quicktake

https://www.forbes.com/sites/lukefitzpatrick/2020/04/27/bitcoin-halving-a-new-class-of-bitcoin-millionaires-may-emerge/#513b674161fc