John McAfee Defends #post_titleM 2020 Bitcoin Price Prediction!

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Wall Street veteran Max Keiser says money printing and dollar debasement is boosting the rise of Bitcoin.

Keiser, who is an early BTC investor, says the digital asset’s parabolic ascent could ultimately take the Bitcoin price to about the $2 million mark.

In a new edition of RT’s Keiser Report, the longtime Bitcoin bull says he expects actions from US regulators to continue to inadvertently make the case for BTC, which has a hard supply cap of 21 million coins.

“The reason why Bitcoin is skyrocketing is because there’s hyperinflation in America. And the US dollar is in a hyperinflationary collapse against Bitcoin. And the solution, as we’ve been describing by these policymakers, will always be to print more money. So that means that Bitcoin is on a one-way trip higher because they have no other policy solution than to print money.”

He points to the 2008 financial crisis as the start of a spiral that brought forth and continues to fuel Bitcoin’s ascent.

“They’re just going to keep printing. And well, you know, my Bitcoin is up 9,000,000% since I first bought it. And it’s probably going to go up another 40x.”

On Tesla’s $1.5 billion investment in Bitcoin last month, Keiser says it amounts to the electric carmaker’s CEO Elon Musk going to war with the Federal Reserve.

“This is a speculative attack that Elon Musk is making on the Fed, right. So he’s already gone to war with the SEC. He’s already gone to war with the SEC (U.S. Securities and Exchange Commission) and he’s shown them to be venal and captured. Now he’s gone to war with the Federal Reserve, and says I’m not going to buy back my own stock; I’m going to take your cheap money, I’m going to buy Bitcoin like Michael Saylor is doing. And now 500 other CEOs in the S&P 500 are like, ‘You know what? That’s a darn good idea.’”

They’ve made more on their Tesla investment in less than six months than they’ve ever made in the entirety on their business of selling cars.”

In other trending Bitcoin News today:

Bitcoin Accelerates Toward $1T Market Cap As BTC Price Hits New All-Time High

Bitcoin (BTC) hit yet another all-time high on Feb. 19 as the largest cryptocurrency set its sights on becoming a trillion-dollar asset.

Holding $50,000 support over the past two days, Bitcoin was primed for further gains in the short term, analysts believed, with one area in particular capturing hodlers’ imagination.

At around $53,600, Bitcoin’s total market cap will pass $1 trillion for the first time in history.

“It is simple. In the old world your money loses value, because governments debase currencies to fund their warfare & welfare state,” quant analyst PlanB summarized on Friday.

“In the new world bitcoin increases in value, because math caps the monetary base at 21M BTC. The new world is eating the old world right now.”

Cryptocurrency investment giant Grayscale has added another $87 million to its Bitcoin Trust (GBTC), data confirms.

According to data from on-chain monitoring service Bybt, Feb. 19 saw a 1,672 BTC top-up of Grayscale’s flagship fund, which now contains a total of just over $34 billion.

With the latest buys, Grayscale’s total assets under management (AUM) passed $40 billion for the first time. Second to Bitcoin is the firm’s Ethereum Trust, which contains almost $6 billion of ETH.

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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:

I’m raising my short term #BTC price target from $65K to $77K based on growing supply-shock issues – as coins are removed from exchanges

My 2021 target of $220,000 remains pic.twitter.com/y1SKIYQW53

— Max Keiser (@maxkeiser) February 17, 2021

It is simple. In the old world your money loses value, because governments debase currencies to fund their warfare & welfare state. In the new world #bitcoin increases in value, because math caps the monetary base at 21M BTC. The new world is eating the old world right now. pic.twitter.com/yuTQ0SrdI7

— PlanB (@100trillionUSD) February 19, 2021

https://cointelegraph.com/news/binance-coin-becomes-the-third-largest-crypto-following-parabolic-rally

https://dailyhodl.com/2021/02/18/max-keiser-unveils-massive-bitcoin-price-prediction-says-us-dollar-in-hyperinflationary-collapse-against-btc/

https://cointelegraph.com/news/bitcoin-accelerates-towards-1t-market-cap-as-price-hits-new-all-time-high

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PlanB, the creator of the stock-to-flow (S2F) model, reiterated on Nov. 8 that the Bitcoin price is well on its way to hit $100,000.

The pseudonymous analyst expects the dominant cryptocurrency to achieve the $100,000 to $288,000 range by December 2021.

Bitcoin would have to increase by around 545% from the current price to surpass $100,000.

At that price point, the market capitalization of BTC would near $2 trillion, or roughly the same as Apple, the world’s most valuable company. 

The S2F model attempts to predict the long-term price trend of Bitcoin by evaluating its supply.

Namely, it takes into consideration its fixed supply and the block reward halving, which reduces the rate at which new BTC is produced or “mined.”

The theory behind S2F is that as the supply of Bitcoin decreases over time and inflation would continuously rise.

These two factors could theoretically amplify the uptrend of the top cryptocurrency.

Based on Bitcoin’s supply curve and the halving cycles, S2F puts the expected valuation of BTC at $5.5 trillion.

The model predicts Bitcoin to reach a multi-trillion-dollar valuation before 2024.

The model reads:

“S2FX model estimates a market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020–2024) of $5.5T. This translates into a BTC price (given 19M BTC in 2020–2024) of $288K.”

In a tweet, PlanB said he remains confident the S2F model’s $100,000 price projection for Bitcoin would materialize.

2021 is particularly important for Bitcoin because it follows a highly anticipated block reward halving in May 2020.

Six months ago, Bitcoin experienced its third halving in history.

This decreased the number of BTC mined each day by half, which would cause the circulating supply to drop over time.

The analyst wrote:

“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!”

So far, following the halving, Bitcoin has increased from $8,700 to $15,500, recording a 78.1% rally in six months.

On-chain analysts like Woobull.com creator Willy Woo say that the total supply of Bitcoin is lower than often thought.

While the total supply of Bitcoin is 21 million, there is a high number of BTC that is lost or dormant that can no longer be accessed.

Woo said:

“Total supply of Bitcoin will not be 21m, it’ll be around 17m as many coins died in the fight for being acknowledged as something valuable in the early days. This means 0.002 BTC per person on the planet.”

As such, PlanB expects Bitcoin to follow the S2F model as the available supply and the amount of new Bitcoin mined decreases over time. 

In other trending Bitcoin News today:

“WHY THIS ANALYST THINKS BITCOIN HITS $17,000 IN THE NEXT WEEK”

Analysts are optimistic that Bitcoin could resume its ascent, potentially towards $17,000 or even $18,000 as the trends of this market remain positive:

“I think there’s a decent chance bitcoin breaches $17k and even into $18k in the next 10 days (next weekly candle). We are due for a decent mid timeframe blowoff and chill for a bit and wicking into the ATH cluster just feels so right…

The path to $18k or ATH wick seems the path of least resistance. Nobody wants to sell until then and everybody is buying dips. Easiest way to create market balance is to do it quickly then let the market chop around a bit.”

The aforementioned trader isn’t the only one calling for Bitcoin to hit $17,000 in the near future.

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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

Why This Analyst Thinks Bitcoin Hits $17,000 in the Next Week

https://cointelegraph.com/news/s2f-creator-has-no-doubt-bitcoin-will-hit-100k-by-december-2021

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Considering the downward turn of the market, it may be surprising that industry experts are optimistic, but Bobby Lee, Tim Draper, and Tom Lee have some bold yet drastically different Bitcoin price predictions.

The closest of these predictions is $25,000 in the next three years, according to Tom Lee. Bobby Lee has the highest BTC price prediction in this lineup, stating that Bitcoin will reach $1 million by 2028.

Tim Draper, a venture capitalist, decided to move away from the halving proposals in the market today, instead proposing that Bitcoin would be worth $250,000.

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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 was designed to be SUPER valuable over time.First 10 yrs, there were only 2 block reward halvings, but the next 10 years, there‘ll be 3 (that’s 50% more)!

By 20th year, daily new output will just be ~255 BTC — yearly inflation of less than 0.5%. More scarce than #gold!

— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 10, 2019

https://cointelegraph.com/news/crypto-markets-turn-red-while-btc-fails-to-impress-below-8-500