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

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DARING ANALYST CALLS BITCOIN CRASH TO $2.4K SOON

With market data showing a range of conflicting signals, one analyst has now made a bold prediction that the BTC price will soon see its largest collapse in over a year.

Whereas investors should consider all possibilities, such a bold assumption is certain to be controversial.

This claim of a possible major drop comes from The Moon who has tweeted: “Possible Bitcoin bear flag on the 4-hour chart. The target will be approximately $2,400 if the bear flag support breaks.”

He bases his argument on the four hour price chart, which clearly indicates a bear flag, yet does not necessarily coincide with other timelines. It is worth noting, however, that The Moon also successfully predicted the Bitcoin price drop which took place on March 12th.

Given the heightened volatility over the past few weeks, Bitcoin (BTC) analysts have come out with a range of predictions. It is thus difficult to know which data is most telling of the market’s next moves.

The most basic indicators signal continued price swings in the short term, yet a stronger recovery over the next few weeks.

Many conclusions can be reached using chart data alone, which is why other market considerations should be examined when making BTC price predictions.

There are presently no shortage of larger indicators that analysts have been using to emphasize Bitcoin’s remarkable potential for big gains.

These include the impending block reward halving, a significant increase in overall blockchain activity, and an increasing interest in using Bitcoin as a financial safe haven.

Bitcoin continued to trade near $7,000 on March 27 after traditional markets showed bullish signs and the Dow Jones had its best day in 87 years.

Having preserved support at the lower end, Bitcoin saw its third consecutive day above $6,000 as coronavirus misery appeared to abate for some parts of the world’s financial system.

They were building on the success of the Dow, which on Wednesday saw its biggest one-day growth since 1933 at 20%.

For the Wall Street Journal, this was even enough to call a bull market.

That, in turn, followed an announcement from the United States Federal Reserve to print unlimited amounts of money, something which immediately pumped markets but rattled Bitcoin proponents.

While Bitcoin continued to fluctuate, data suggested that traders were not in the mood to sell — according to monitoring resource Glassnode, exchange balances were at an eight-month low as of Thursday.

“Despite the volatility, Bitcoin holders appear to be withdrawing their funds from exchanges. Outflow has been increasing daily since March 18,” the company summarized on Twitter.

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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: A new bull market has begun. The Dow has rallied more than 20% since hitting a low three days ago, ending the shortest bear market ever. https://t.co/06YS0XqWGP

— The Wall Street Journal (@WSJ) March 26, 2020

Daring Analyst Calls Bitcoin Crash to $2.4K Soon

https://cointelegraph.com/news/bitcoin-price-holding-65k-as-media-calls-new-bull-market-in-stocks

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TOP INVESTOR STILL EYES $20,000 BITCOIN PRICE

Yesterday, the infamous 2020 Bitcoin Halving finally came to pass.

Unlike optimists expected, the market didn’t pump in the wake of this event. Instead, BTC is actually down more than 15% in the past three days, having rallied as high as $10,100 on Thursday.

Yet this drop has not stopped a prominent Wall Street billionaire from predicting the Bitcoin price will rally towards $20,000 by the end of the year.

Speaking to CNBC’s “Fast Money” panel in the wake of the halving, Galaxy Digital chief executive officer Mike Novogratz held his bullish tone on the leading cryptocurrency.

He asserted that with all of the stimulus by governments, along with the record amount of liquidity operations by central banks, Bitcoin could climb towards $20,000 by the end of the year.

Along with the positive macro outlook, Novogratz noted that Paul Tudor Jones, the legendary macro hedge fund investor, entering the Bitcoin space is especially notable.

This point was not expanded on, but many in the space believe that the investor’s entrance of the space is one of the most bullish things to happen to the cryptocurrency.

The idea goes that because Jones is now in Bitcoin (and in the space publicly), other investors that were sitting on the fence are more likely to flock to buy Bitcoin now.

In other trending Bitcoin News today:

Top Analyst Predicts Bitcoin (BTC) Mania in June, Sparking Fast and Volatile Push to All-Time High

A prominent crypto strategist who accurately called the bottom after the coronavirus-induced sell-off in March says he’s long-term bullish on Bitcoin, but not before the world’s leading cryptocurrency whipsaws traders.

In a tweetstorm, pseudonymous trader Bitcoin Jack says that he expects volatility to reign for the rest of the month before Bitcoin accelerates in June.

“Key requirements in May for my thesis: decent buy pressure this week with resistance between $10,500 to $11,000, sell-off into strong support at $9,000 – $9,500 that holds. That would complete a running flat. If so, it is a recipe for an end of May / June rally.”

Should Bitcoin follow the script, the crypto analyst says BTC will begin to rise next month in a rally that ignites FOMO, mania and media attention en route to $15,000.

After the rally, Jack expects the top cryptocurrency to correct and form a base which would set the stage for a massive bull run to $20,000.

“I expect support ($9,000 – $11,000) to form by August. If my earlier thesis is correct, we should then rally towards previous ATH by Dec/Jan.”

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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:

Post Halving, Bitcoin Will Still Surge to $20,000: Wall Street Billionaire

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The Bitcoin price will hit $100K+ per BTC before 2022 according to popular Crypto analysts PlanB, Tom Lee, Anthony Pompliano and Bitmex CEO Arthur Hayes.

This is around the date of the Bitcoin (BTC) block reward halving, which would kick off the “bull run” sending the cryptocurrency to $100,000 before December 2021.

PlanB released the predictions describing them as his “2 sats on BTC price.” In a previous update in January 2019, he claimed BTC/USD would stay above its 200-week moving average (200WMA), which historically had always grown.

Stock-to-flow uses two indicators to chart Bitcoin’s price trajectory: the number of Bitcoins already available versus the number of new Bitcoins added to circulation.

Historically highly accurate, the model puts Bitcoin on par with gold in terms of its status as hard money with a supply that is virtually impossible to manipulate, unlike fiat currency. 

In the long term, PlanB expects BTC/USD to trade at an average of $100,000 between 2021 and 2024.

After that, however, fiat weakness may reach such an extent that BTC (Bitcoin) appreciates to “a factor” of $100,000, at which point stock-to-flow would ironically become less useful. 

Bitcoin is starting 2020 with a bang. With double-digit gains in January, the top cryptocurrency briefly breached psychological resistance at $10,000 over the weekend.

Even with the current pullback to $9,757, BTC is still up by over 36% year-to-date, with more upside potential this year, according to Fundstrat co-founder Tom Lee.

In a recent appearance on CNBC’s Power Lunch, Lee argues that Bitcoin is now at the start of a new bull run. “A lot of good things have happened with Bitcoin this year. One is the halvening is happening in May. But we broke above the 200-day [moving average] – so back in a bull market.

There is the corona[virus] risk and geo-political tension… Last year, I think Washington killed the Bitcoin rally.

But with the elections, it’s sort of not in the purview of Washington. So I think Bitcoin could rally very strongly from here.”

Regarding the projected strength of the rally, Lee adds, “When Bitcoin breaks above its 200-day, which it did about two weeks ago, its average six-month gain is about 190%. So this would point to all-time highs sometime 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:

Bitcoin just hit $10,000.I still think that Bitcoin will hit $100,000 by end of December 2021.

Fixed supply. Increasing demand. Time will tell. #Bitcoin

— Pomp 🌪 (@APompliano) February 9, 2020

It is not S2F related, and also not WMA200 related. It is a new not yet disclosed indicator that is the result from chain analytics. So if it would drop below $8200 (what I do not expect), then I will drop that indicator.

— PlanB (@100trillionUSD) February 10, 2020

https://cointelegraph.com/news/anthony-pompliano-believes-bitcoin-price-climb-to-100k-has-started

https://cointelegraph.com/news/bitcoin-price-has-set-82k-floor-100k-coming-before-2022-analyst