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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 Facing One of the Best Setups in History With Bitcoin Facing One of the Best Setups in History With $1,000,000 Target | BTC Halving 2020 News,000,000 Target | BTC Halving 2020 News
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Raoul Pal of Global Macro Investor is breaking down the potential paths ahead for Bitcoin as the BTC halving approaches.
He says Bitcoin is currently in one of the best positions of any asset he’s ever seen, trading inside a “perfect wedge” that he believes is a precursor to a massive new bull run.
Pal’s first depiction of the wedge using traditional charting techniques has the Bitcoin price targeting $40,000.
But when switching to a log price scale to get a long-term perspective, Pal says the BTC price is on a trajectory to $1 million.
Using linear regression channels, which highlight the upper, lower and middle portions of a trend or price move, Pal says BTC displays a move to $400,000 to $1 million.
He says his analysis aligns with Bitcoin predictions from the anonymous strategist PlanB. “Whatever plays out, after a key technical break like today, the probability of vastly higher prices has risen dramatically. And this is confirmed by the stock to flow models by PlanB and the breakout has happened almost exactly at the halvening.”
Pal also points to a rapid increase in money printing and struggling currencies in places like Venezuela and Argentina as a sign of what’s to come.
“Add to that the entire world’s central banks are either seeing their currencies collapse to the almighty dollar (BRL, TRY, ARG, etc) or they are printing money like crazy. Huge quantitative easing fiat meets the hardest money that automatically quantitatively tightens. BTC wins.
This is the one of the best setups in any asset class I’ve ever witnessed… technical, fundamental, flow of funds and plumbing. All. Now. Again, to be clear, even if it has 90% odds, doesn’t mean its definitely going to work…I can and will be wrong…often and dramatically.”
Pal says he recently allocated 25% of his liquid net cash to Bitcoin, along with 25% to gold.
He’s reserving another 25% for trading opportunities and plans to keep the last 25% in cash.
In other trending Bitcoin News today:
THESE 4 TRENDS SUGGEST BITCOIN WILL ROCKET HIGHER TOWARDS $15,000: FUNDSTRAT
Since the $3,700 lows, Bitcoin has roared higher, crossing above resistance after resistance in succession.
Just recently, BTC tapped $10,000.
Although impressive, top analyst Tom Lee expects for the cryptocurrency to head even higher, citing three “solid” tailwinds for this market.
“There’s a confluence of four fundamental factors that indicate Bitcoin’s medium-term to long-term trend is shaping positive, analyst Thomas Lee has said. The co-founder of Fundstrat Global Advisors, a New York-based research firm, identified them as follows:
1 – Bitcoin is the best-performing “asset class” in 2020, beating U.S. Treasuries and Gold amid a global recession. Treasuries are up 21% while the precious metal is up 13% — already much better performances than the S&P 500’s 10% drop, the 5% drop in emerging market corporate bonds, and the 20% drop in the Russell 2000 index.
2 – In a similar vein, BTC was the best-performing asset class of 2019, rallying 92% while the U.S. stock market gained around 20%.
3 – The block reward reduction, known as a “halving,” is taking place in four days, estimates suggest.
4 – Paul Tudor Jones, one of the world’s biggest macro investors, just announced his fund is taking a stake in Bitcoin futures. Jones believes the cryptocurrency will act as a hedge against inflation.”
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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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BITCOIN RALLIED 4,000% AFTER THIS SIGNAL FLASHED IN 2016 | Max Keiser On How He Bought BTC For BITCOIN RALLIED 4,000% AFTER THIS SIGNAL FLASHED IN 2016 | Max Keiser On How He Bought BTC For $1
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A BITCOIN BULL SIGNAL JUST APPEARED!
As first spotted by a prominent BTC commentator, the Hash Ribbons have just crossed bullish and printed a “buy” for the first time in a number of months.
The Hash Ribbons are an indicator that uses a short-term moving average and a long-term moving average of the hash rate. When the short-term moving average crosses above the long-term moving average, it’s seen as a bullish sign.
And when the opposite takes happen, it’s bearish.
The “buy” signal appearing per the Hash Ribbons is extremely notable for Bitcoin bulls.
As the chart below indicates, when the signal formed in 2016, Bitcoin proceeded to rally by over 4,000% in the year and a half that followed.
This has been further corroborated by digital asset investor and analyst Charles Edwards, who noted that each occurrence of the signal has preceded strong rallies in Bitcoin.
The bullish crossover and “buy” signal comes as the crypto mining industry has signaled that it is more healthy than ever.
Cryptocurrency data provider TradeBlock reported last week that the Bitcoin hash rate (seven-day moving average) has hit a new all-time high above 124 exahashes per second.
Bitcoin’s network difficulty will follow suit, according to analyst “PlanB”:
“Despite death spiral FUD, miner capitulation FUD, future manipulation FUD, corona, PlusToken FUD, Tether FUD, whales selling FUD etc… BTC just had its third-best quarterly close ever ($9.1K) and is heading for difficulty ATH Monday (17E12).”
This is bullish for the Bitcoin price, according to Edwards.
Edwards published a price model in December 2019 revealing that the energy consumption levels of the Bitcoin network correspond with price action.
His latest so-called “energy value” analysis implies a rally to $12,800 will take place in the months ahead.
In other trending Bitcoin News today:
Max Keiser On How He Bought BTC For $1 In 2011 And Why Bitcoin Is Like The Mona Lisa
CryptoPotato recently had the chance to interview Bitcoin Pioneer Max Keiser, where he said that his first Bitcoin purchase was in 2011 and compared the asset to one of the most famous artworks in the world – The Mona Lisa.
Talking about the current US and global economic situation, and more specifically, COVID-19’s role in it, Keiser said that the virus is “nature fighting back against the virus of humans.”
He used the personification of the Earth from the Greek Mythology – Gaia – to add to his point, but concluded that he doesn’t “think ultimately she’ll win against the human virus.”
“Like Venezuela, Zimbabwe, and Iran, NASDAQ is higher as confidence in the USD collapses. Safe haven money is seeking shelter in stocks, gold, and Bitcoin.”
Keiser said that he heard about Bitcoin in 2011 and started accumulating at $1 at the time.
Keiser noted that BTC’s digital scarcity attracted him the most, as he “invented digital scarcity and commercial prediction markets in 1996.
BTC does what my patent does, but with incredible elegance. It’s the Mona Lisa of money. It’s self-aware, it’s observing us, and it’s channeling God.”
In another recent interview, Keiser asserted that only “gold, silver, and Bitcoin can save you now,” referring to the current events in which world governments are printing a lot of fiat to ease the pain from the COVID-19 pandemic.
Now, he doubled-down on his views, saying that “Bitcoin is a safe-haven asset that will rocket higher as fiat money collapses.”
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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:
Yes. I do think the Altcoin party will end very soon.I’m not looking for new trades– Dominance weekly support– BTC ranges for 70+ days– BTC volatility at lows only seen 4 times since 2017. These lows where followed up by 50-250% BTC moves.
– Q3 has been bearish historically pic.twitter.com/zk1z0AENVZ
— CryptoAmsterdam (@damskotrades) July 10, 2020
Bitcoin’s Rallied 4,000% After This Signal Flashed in 2016. It’s Back Again
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BITCOIN HITS NEW ALL-TIME HIGH!! THIS METRIC SUGGEST BTC CAN GO AS HIGH AS 0K THIS BULL RUN!!
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Bitcoin price has officially reached a new all-time high on Dec. 1 above $19,892 after nearly three years, according to data from Coinbase and Tradingview.
Despite the Thanksgiving crash last week, BTC price has managed to rebound throughout the weekend. Bitcoin then easily passed the $19,000 mark on Monday to reach its all-time high, albeit on a couple of exchanges.
There are three key trends that fueled BTC’s rise from sub-$3,600 in March to over $19,892. These include the rise in institutional demand, lower selling pressure, and the resilience of Bitcoin throughout 2020.
Most on-chain data points show that the demand for Bitcoin from institutions has been rapidly increasing.
In November, Grayscale recorded all-time high net inflows, and the CME Bitcoin futures market saw its open interest climb near $1 billion.
Grayscale, in particular, said that more institutions invested in cryptocurrencies during the third quarter of 2020 than ever before.
The figures Grayscale sees are important to gauge the institutional interest in Bitcoin because the Grayscale Bitcoin Trust is typically the first point of entry for most institutions to gain exposure to BTC.
In the United States, there is no exchange-traded fund (ETF) for Bitcoin and other major cryptocurrencies. Hence, the Grayscale Bitcoin Trust is the closest investment vehicle to an ETF in the U.S. market. The Grayscale report read:
“More institutions invested in 3Q20 than ever before and have increased their average allocation from $2.2 million in 3Q19 to $2.9 million in 3Q20. Institutions that are comfortable with multiple products within the Grayscale suite of products, have averaged nearly double the commitments of single-product investors during 3Q20.”
As Cointelegraph reported in August, MicroStrategy purchased $450 million worth of BTC, adopting Bitcoin as its primary treasury asset. This was likely the spark that triggered the current wave of institutional demand for the digital store of value.
In other trending Bitcoin News today:
This Metric Suggests Bitcoin Price Can Go As High As $590K This Bull Run
The current Bitcoin (BTC) bull run could send BTC/USD as high as $590,000, one indicator forecast this week.
Curated by on-chain analytics resource Glassnode, the Net Unrealized Profit/Loss (NUPL) index has reached a level that has historically launched the Bitcoin price an order of magnitude higher.
The latest bull signal was noticed and uploaded to social media by the company’s chief technical offier, Rafael Schultze-Kraft, on Nov. 30. At the time, BTC/USD was already making new all-time highs on several exchanges.
NUPL currently resides at 0.62. Previously, reaching this level has begun an uptrend that only reversed once Bitcoin hit a new price range.
In 2011, the price expanded by a record 3,000% after the NUPL event, while in early 2013 it expanded 800% and another 600% later that year. In 2017, the year which delivered Bitcoin’s previous all-time high, there were 1,200% gains.
NUPL measures the proportion of coins in the network that are in profit versus those that are not. Built around a neutral zero value, the closer the index gets away from it, the more the network is in profit. Negative readings likewise signify majority losses.
“NUPL is at 0.62 and predicts tops at 0.8+,” Schulze-Kraft explained alongside an annotated chart.
A 0.8 reading or higher this time around thus opens the door to BTC/USD topping out at anywhere between $133,000 and $590,000.
“Just getting started,” he concluded.
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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:
🔴 My fellow bitcoiners, the bull market is upon us. Like clockwork November red dot closed above all other red dots .. at $19,700 .. a new #bitcoin ATH. This is just the beginning. We will see volatility (e.g. -35%), but also new ATH’s. Enjoy the ride!🚀🚀🚀 pic.twitter.com/27fmkCOoEY
— PlanB (@100trillionUSD) December 1, 2020
https://cointelegraph.com/news/tyler-winklevoss-tells-cnbc-that-cash-is-trash
https://cointelegraph.com/news/bitcoin-price-hits-new-all-time-high-as-crypto-market-matures
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