JACK DORSEY: Twitter Developing Decentralized Standard for Social Media | Bitcoin Price 7-Month Low?

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Institutional investor and creator of the Bitcoin Stock-to-Flow valuation model known as PlanB, for fun did some BTC price modeling with central bank balance sheets which implies a $20,000,000 Bitcoin price.

The pseudonymous trader tweeted,

“Modeling bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M”

Rich Dad Author Robert Kiyosaki added his sentiment regarding the out of control money printing by the Fed…

“WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.”

In other trending Bitcoin News today:

3 Key Metrics Show Bulls Control Bitcoin Price Despite $12K Resistance

Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure.

This holds especially true when considering that the $12,500 level hasn’t been touched in over 13 months.

Currently, analysts are making $16,000 price targets partially due to a CME gap and the expectation that U.S. inflation will rise higher.

While short-term traders confabulate whether the Aug. 28 CME futures and options expiry caused the dip seen in the past few days, on-chain data reveals holders have become more robust than ever.

63% of UTXOs haven’t been touched for over a year, something without precedent.

These holders faced a 53% dip over the thirty days leading into March 13, but even the Black Thursday crash did not entice them to move their BTC.

And in other trending Cryptocurrency news:

DEFI TOKEN YFI PEAKS AT $38,682, MORE THAN 3X PRICE OF BITCOIN

Yearn Finance and the project’s native token YFI has jumped significantly in value.

Last week, YFI made headlines for outpacing bitcoin (BTC) by price per coin, as the YFI token value spiked to $16k on August 20.

On Friday, YFI was averaging around $17-18k per coin, and the value leaped even higher during Saturday afternoon’s (ET) trading sessions.

According to market data, YFI touched an all-time high of over $38,000 on August 29. Presently, the value is hovering around $30,000.

This week, an individual on Twitter, asked the Yearn Finance founder why he was talking with the FTX exchange CEO Sam Bankman-Fried.

Andre Cronje did not detail what Yearn Finance and FTX were collaborating on, but he did confirm that some kind of partnership was in place.

“Guess the cat is out of the bag,” Cronje tweeted. “But just so that there is some expectation management, this is a long roadmap that we are working on, so it won’t be anything anytime soon. But there will be something very sexy in the future.”

In addition to the FTX topic, the defi token YFI was also recently listed on the lending platform Aave this week. Aave has also been making headlines in recent days for its total value locked (TVL), and the project’s electronic money license granted by the UK’s Financial Conduct Authority (FCA).

Yearn Finance has also revealed a new insurance primitive this week called “yinsure.finance.”

The Yearn development team published an article about the yinsure.finance subject which states:

We will systematically be releasing yinsure.finance, a prototype for a new kind of tokenized insurance.

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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:

Friday Fun: modeling #bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M💥💥💥 pic.twitter.com/WPS8Ft9B2r

— PlanB (@100trillionUSD) August 28, 2020

WHY SAVERS ARE LOSERS. Fed announces interest rates to be kept low for at least 5 years as Fed prints trillions in FAKE $. Tesla & Apple split stocks 4 to 1 printing FAKE stocks. Savers of FAKE $ and FAKE stocks feel richer till CRASH. Then Gold, Silver, Bitcoin biggest winners.

— therealkiyosaki (@theRealKiyosaki) August 29, 2020

https://news.bitcoin.com/defi-project-yearn-finance-smashes-records-as-native-token-surpasses-30k/

https://cointelegraph.com/news/3-key-metrics-show-bulls-control-bitcoin-price-despite-12k-resistance

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Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before Bitcoin (BTC) Hits $14,000

After rallying as high as ~$10,100 on leading exchanges this week, Bitcoin plunged off a proverbial cliff.

Within 12 hours after hitting the highs, the cryptocurrency dipped by almost $1,000, crushed as long orders cascaded BTC lower.

While this was a bearish rejection at a crucial level, analysts are still bullish.

They cite a confluence of technical and fundamental factors showing that the BTC trend remains slanted to the upside.

Bitcoin’s recently price action may make it seem like a top is forming, but a fractal analysis from a leading analyst in the space has suggested the opposite.

“Fractals also refer to a recurring pattern that occurs amid larger more chaotic price movements.”

The analyst suggested that a fractal has formed between the start of 2019’s 300% rally and BTC’s price action over the past few weeks.

The fractal suggests that BTC will trade as high as $14,000 by the middle of July.

As a pertinent aside: the analyst who shared the chart below is known for observing accurate fractals, which predicted a number of key swings over the past year.

In other trending Bitcoin News today:

Three Altcoins Ready to Outperform Bitcoin (BTC), According to Crypto Analytics Firm Santiment

Crypto analytics firm Santiment says a handful of crypto market metrics indicate that Ethereum (ETH), Basic Attention Token (BAT) and Maker (MKR) all look more bullish in the short term than Bitcoin (BTC).

Santiment looked at each asset’s three-day averages in three metrics.

The first, Daily Active Addresses (DAA) vs. Price

Divergence, compares an asset’s price action to the number of unique crypto addresses interacting with that specific coin on a daily basis.

The metric views price action that outpaces DAA as a bearish signal, and vice versa.

The second, Network Value to Transactions Ratio (NVT), compares the value transferred on a specific network (transaction volume/token circulation) to the network’s market cap. If the transaction volume is low relative to market cap, an asset is considered overvalued and vice versa.

The third metric, Sentiment Volume Consumed, measures the sentiment of market participants on Twitter.

Santiment evaluated each asset using a simplified rating system: 0-10, with 0 representing the most bearish and 10 the most bullish.

A 5 implies a prediction of sideways consolidation.

Bitcoin scored a 3 on the DAA vs. Price Divergence metric, a 2 on the NVT, and a 6.5 on Sentiment Volume Consumed, for an average rating of 3.8, or “slightly bearish.”

Ethereum scored a 5 on DAA vs. Price Divergence, a 5.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 5.5 (neutral).

Basic Attention Token scored an 8.5 on DAA vs. Price Divergence, a 9.5 on NVT, and a 6 on Sentiment Volume Consumed, for an average rating of 8.0 (bullish).

Maker scored a 9 on DAA vs. Price Divergence, a 10 on NVT, and a 5.5 on Sentiment Volume Consumed, for an average rating of 8.2 (bullish).

Santiment cautions that none of these scores are indicative of the firm’s long-term outlook on each asset.

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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:

Don’t lose sight of the HTF…Our prior resistance region has now been broken and is now being tested as support. Bulls remain in control and gunning for the highs again imo. HTF has been bullish since posting this weeks ago, hope you have been buying the dips. $BTC https://t.co/Q7k4bd86Q5 pic.twitter.com/WpVUf1wPGt

— Credible Crypto (@CredibleCrypto) June 4, 2020

Eerie Bitcoin Fractal Predicts It May Be Just Weeks Before BTC Hits $14,000

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Software giant Microstrategy has purchased more than $1 billion worth of bitcoins to bring its total cryptocurrency holdings to above $4.5 billion worth.

The company announced on Wednesday that it had acquired an additional 19,452 bitcoins at an average price of $52,475.

This brings the firm’s total holdings to 90,531 bitcoins, which altogether were bought at an average price of $23,985 per bitcoin. This means Microstrategy has more than doubled its investment, with the holdings are currently worth more than half of Microstrategy’s $7.84bn market cap .

Bitcoin is currently trading at around $50,000 after crashing from a new all-time high above $58,000 on Sunday, 21 February, however CEO Michael Saylor predicts that bitcoin’s price could rise 10-fold over the coming years.

Mr Saylor said the latest investment was part of a twin corporate strategy of growing its software business while simultaneously “acquiring and holding bitcoin” in the expectation that its price will continue to grow in the long term.

“The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,” he said.

“We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities… with the objective of using the proceeds to purchase additional bitcoin.”

Speaking to CNBC before the latest investment was announced, Mr Saylor said that he believed bitcoin’s market cap would rise $100 trillion – 10-times that of gold’s.

It is currently worth less than $1trn, having risen from below $100bn last March.

“Bitcoin is going to flip gold, and it’s going to subsume the entire gold market cap,” he said.

“Once it gets to $10 trillion, its volatility will be dramatically less. As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”

Microstrategy’s announcement comes less than three weeks after Tesla revealed that it had ploughed $1.5bn of its cash assets into bitcoin.

Prior to the electric car maker’s announcement, Mr Saylor offered advice to Tesla boss Elon Musk on how to purchase such large amounts of bitcoin.

In a public Twitter exchange, Mr Saylor said the investment would be a “$100 billion favour” to Tesla shareholders.

In other breaking Bitcoin News today:

Cardano Is Now A Top-Three Cryptocurrency As ADA Price Soars 27% In 24 Hours

Cardano Ada received a fresh wave of optimism and buying volume on Feb. 26 that pushed its price to a new all-time high of $1.49, making it the third-ranked cryptocurrency by market capitalization. 

Data from Cointelegraph Markets and TradingView shows that Ada surged 27% from a low of $0.98 during the early trading hours on Feb. 26 to its new high at $1.49 on record trading volume. 

Momentum for the project has been building throughout the month of February following the integration of the Mary upgrade to Cardano’s testnet on Feb. 3. The upgrade enables smart contract functionality, helping transform the blockchain into a multiasset network similar to Ethereum.

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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:

FACT: Any perceived “Utility value” for Gold adds nothing – while its being abandoned as money in favor of #Bitcoin In fact, it’s a primary reason why the market prefers BTC over Gold. BTC’s price-discovery is unencumbered by any perceived utility-value. It’s just pure money. https://t.co/uduDVlAtoF

— Max Keiser (@maxkeiser) February 27, 2021

The Bullion Banks and Central Banks have been demonetizing Gold for decades. Into the mess strolled #Bitcoin Now the demonetization process is speeding up.

— Max Keiser (@maxkeiser) February 26, 2021

#Bitcoin Price is now $80,000 in Nigeria – a 60% premium.

That’s what happens when you try to ban something people want.

— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) February 18, 2021

https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-microstrategy-cryptocurrency-price-prediction-b1807283.html

https://cointelegraph.com/news/why-is-bitcoin-86k-in-nigeria-here-s-why-the-btc-premium-is-huge-in-some-countries

https://cointelegraph.com/news/cardano-is-now-a-top-three-cryptocurrency-as-ada-price-soars-27-in-24-hours