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Jack Dorsey, Twitter CEO and founder of payments operator Square, has revealed that Twitter is funding a dedicated team to develop a decentralized standard for social media.
In a series of tweets on Dec. 11th, Dorsey set forth a number of challenges social media networks face in their operations.
These include the shift away from content hosting and removal to recommendation algorithms directing users’ attention, and content that sparks controversy and outrage rather than healthy and informative conversations.
In other Crypto news today:
The Bitcoin price is headed to 7-month low if $7,000 support fails. For the past few days, the BTC price has ranged between $7,400 to $7,100 and it seems bears are keen to push the Bitcoin (BTC) price back below $7,000 before this week closes.
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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:
Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media. The goal is for Twitter to ultimately be a client of this standard. 🧵
— jack 🌍🌏🌎 (@jack) December 11, 2019
https://cointelegraph.com/news/why-bitcoin-price-is-headed-to-7-month-low-if-7k-support-fails
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BITCOIN IS AN ‘INSURANCE POLICY’ AGAINST THE FED SO EXPECT A #post_titleM BTC PRICE WARNS CRYPTO BILLIONAIRE!
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Former Facebook executive-turned Bitcoin billionaire venture capitalist, Chamath Palihapitiya, has warned neither Biden nor Trump will help U.S. dollar – but holding BTC is an “insurance policy” that helps him to “sleep soundly at night.” “
The reality is that [the Federal Reserve and the U.S. Treasury] have printed so much money that the likelihood is that we’re going to continue to see asset price inflation independent of who’s in the White House,” Palihapitiya told CNBC’s Squawk Box this week, adding he holds bitcoin just “in case the central banks and governments of the world step on a landmine.”
The Fed and the Treasury have embarked on massive stimulus programs this year, injecting trillions of dollars in the financial system in an attempt to offset the economic damage caused by the coronavirus pandemic.
This unprecedented intervention, propelling the stock market to record highs even as unemployment has spiked and businesses struggle nationwide, has sparked fears among some investors that a severe bout of inflation is on the way.
Palihapitiya, who began his VC career while still at Facebook in 2011 and has backed the likes of big data analytics firm Palantir and Richard Branson’s space exploration company Virgin Galactic, has long argued Bitcoin serves as a long-term store of value and should be included in every investors’ portfolio.
“I still think that what I talked about sort of eight or nine years ago still holds, which is as a 1% hedge in our portfolio.” Chamath, who purchased 1,000,000 Bitcoin’s back in 2013 at about $80 per BTC says he expects the Bitcoin price to climb as high as $1 million per coin over the next 20 years.
However, Palihapitiya warned against the buying and selling of bitcoin for short-term profit, advising investors to hold it and “hope that you never need it because the amount of actual chaos that will drive bitcoin appreciation is not something we actually really want to see.”
“The reality is [bitcoin’s] fundamentally not [correlated with stock markets] because it is underpinned by a set of beliefs that are completely orthogonal to the orthodoxy that runs the world today, and it is completely the inverse of how the financial infrastructure of the world operates,” Palihapitiya said.
In other trending Bitcoin News today:
Crypto Strategist Who Called Bitcoin’s Massive Collapse in 2018 Says BTC Poised to Flash Major Buy Signal
A veteran commodities trader known for accurately predicting Bitcoin’s epic fall from $20,000 says that the leading cryptocurrency is on the cusp of flashing a major buy signal.
Peter Brandt, CEO of trading firm Factor Trading Co., is sharing a chart that shows the crypto king is poised to break out of a symmetrical triangle dating back to 2017.
BTC now needs to close out the week above the $11,100 mark for confirmation.
Brandt cites large Bitcoin purchases from payments giant Square and business intelligence company MicroStrategy as significant fundamental factors driving Bitcoin’s price.
Collectively, the two companies have bought $500 million worth of Bitcoin within the last month.
“It is a major development that a global corporation is now putting BTC onto its balance sheet. The weekly and daily charts a poised to flash a big buy signal.”
Back in January, Brandt said Bitcoin could surpass $100,000 in its current long-term cycle.
However, as the COVID-19 pandemic continues to hit financial markets, the veteran technical trader revealed last month that he exited the crypto market and moved his assets to the US dollar.
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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.
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TOP NEW YORK EXECUTIVE SEES BITCOIN AT $150K BY END OF THIS YEAR!! SUPER BULLISH BTC PREDICTIONS!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
There is nothing stopping Bitcoin from attempting to become a six-figure asset, the Magnetic managing director William E. Quigley professed in an interview with CNN Business.
The New York-based senior executive listed a string of reasons behind his bullishness on Bitcoin, the world’s leading decentralized cryptocurrency whose rates surged from as low as $3,858 just shy of $58,500 in the previous 12 months.
They included Bitcoin’s scarcity and growing demand among mainstream corporate houses that look for alternative store-of-value assets for their balance sheets.
A pre-embedded algorithm within the Bitcoin blockchain’s source code reduces its supply rate by half every four years or after every 210,000 block—an event known as “halving.” Meanwhile, there can only be 21 million BTC tokens in existence, making the cryptocurrency scarce, making it more valuable in the long-term if the demand for it rises.
Bitcoin has had three halvings in the past. The November 2012 and June 2016 supply cuts saw the BTC/USD rates jumping from about $12 to nearly $1,150 and $650 to almost $20,000.
Meanwhile, the third halving—that took place in May 2020—has followed up with up to 558 percent rise so far. It prompted Mr. Quigley to see a bullish fractal.
“We are about halfway through the post-halving bull run,” the executive noted. “So, by my judgment, we have a lot more to go with Bitcoin. Certainly a hundred thousand and quite possible a $150,000 by the end of this year to maybe Q1 next year.”
BITCOIN DEMAND GROWS
That explains why even corporates have started embracing the flagship cryptocurrency as an alternative to cash. Tesla, the world’s leading electric carmaker, revealed in February that it added $1.5 billion worth of bitcoin in its balance sheet, noting that it would also start accepting the cryptocurrency for its services and products.
MasterCard, a credit card giant, announced that it would integrate crypto tools into its services in the same month. Bank of New York Mellon, the US’s first banking firm, joined the ranks by announcing that it would offer bitcoin custodianship via the same platform that its clients use for traditional securities and cash.
“The latest survey I saw showed that 5 percent of the public-traded companies in the US would consider adding Bitcoin to their balance sheets,” said Mr. Quigley. “And the reason they are thinking that is that corporates have trillions of dollars in cash—and where do they put it? There are government bonds but $17 trillion of them yield negative returns.”
In other trending Bitcoin News today:
Experts Divided on BTC Predictions: Bullish or Super Bullish?
Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.
On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.
“Grayscale Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Today is the two year anniversary of my #Bitcoin Halving Reward Era Price analysis chart.It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin.
I still trust it.$BTC will hit $200K+ this cycle. pic.twitter.com/jwUcOpHeXC
— K A L E O (@CryptoKaleo) February 13, 2021
Bitcoin is more likely to hit $1,000,000 than $0.
— Dan Held (@danheld) March 4, 2021
https://bitcoinist.com/top-new-york-executive-sees-bitcoin-price-at-150000-by-q1-2022/
https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish
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KRAKEN’S DAN HELD SAYS BITCOIN TARGETING 0K!! BTC WILL TAP 0K-8K 'BEFORE' DECEMBER 2021!!
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Dan Held from the crypto exchange Kraken, says Bitcoin is in a much stronger position now with the possibility of skyrocketing to $100,000 per BTC in 2021.
In an interview with crypto influencer Lark Davis, Held says that Bitcoin remains a risk-on asset as he anticipates the Biden administration to print more money at an unprecedented rate.
“If you look at options pricing in Biden, he’s being priced into the market and his impact is being priced in as a positive because he will spend more money. Money printer will go brrr, and the Democrats will likely go brrr at an even faster rate than Republicans and they’re both brrring at a rate we’ve never seen in US history…
Insane amounts of money. People are like ‘Bitcoin, at a $100,000? Oh man, that would be a $2 trillion market cap.’ I’m like ‘Yeah, we just printed that much last week alone.”
Despite the bullish target, Held doesn’t discount the possible threat of the paperization of Bitcoin where large corporations such as PayPal buy huge amounts of BTC but do not allow the deposit or withdrawal of the crypto asset from their ecosystem, which eliminates the need to settle transactions on-chain.
“If big corporates decided that they don’t care about Bitcoin’s layer one or care about Bitcoin’s settlement mechanism and then they [are] fine with settling with each other, then that gets pretty scary where it’s like, ‘Well, what if we just rebuilt the old system where no one cared about the settlement guarantee of the Bitcoin layer?”
Held himself though says he still strongly believes in Bitcoin’s core settlement system and doesn’t see any reason to use any counterparty.
“We look at that from a very critical perspective, we don’t want to take on any additional risk. Bitcoin as a settlement mechanism is phenomenal so I think there would have to be a really strong reason not to use that.”
In other trending Bitcoin News today:
“PLANB SAYS BITCOIN WILL TAP $100K-$288K BEFORE DEC. 2021!!”
In a recent tweet the stock-to-flow model creator PlanB shares the following Bitcoin price prediction:
“People ask if I still believe in my model. To be clear: I have no doubt whatsoever that Bitcoin S2FX is correct and Bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!”
And regarding Bitcoin’s relationship to gold he pointed out the following in another tweet:
“Bitcoin priced in gold. 1BTC = 8 ounces of gold, up 1 ounce in 1 month .. and counting”
In other trending Crypto news today:
“3 Ways Bitcoin Price And Stocks May React to a Biden Presidency”
On Nov. 7 several major media outlets announced that after 4 days of rigorous vote-counting in key battleground states Joe Biden had managed to secure enough electoral votes to become the 46th President of the United States.
As the excitement over an incredibly close election starts to abate, analysts will take a closer look at how a Biden presidency may impact traditional markets and Bitcoin price.
Three key factors to consider are the eventual passage of a new round of economic stimulus, a strengthening U.S. dollar, and the possibility of a stock market recovery.
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Trezor: ► http://trezor.cryptonewsalerts.net
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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:
People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice! pic.twitter.com/GNSxLIt7NG
— PlanB (@100trillionUSD) November 8, 2020
https://cointelegraph.com/news/3-ways-bitcoin-price-and-stocks-may-react-to-a-biden-presidency
https://cointelegraph.com/news/bitcoin-at-15k-is-now-bigger-than-paypal-coca-cola-netflix-disney
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