JOHN MCAFEE: ‘I Never Cared About The Price of Bitcoin (BTC)’ | Exclusive Interview

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Bitcoin Price Can Hit $6K Then Rise to $20K in 2020 Crisis, Says BitMEX CEO.

Arthur Hayes called it right on the money, that Bitcoin (BTC) will likely hit lower levels of up to $6,000 but will avoid bigger losses.

In the latest edition of the exchange’s Crypto Digest on March 12, Arthur Hayes joined other trading sources warning that the BTC price was not safe from current market turmoil.

On Twitter, he described it as “a look into my trader brain during this time of intense market volatility.”

In the short term, Hayes thinks that BTC/USD is headed to a maximum floor of $6,000 as coronavirus panic takes its toll on sentiment. 

The situation will be compounded by hedge funds selling coins into an already downward-facing market due to distress calls from traders.

Hayes still believes in the cryptocurrency’s status as a safe-haven asset and added that $20,000 is a possible target for a bounce before the end of 2020. 

2020 Gains Wiped as Bitcoin Crashes below $5,600 Bitcoin crashed within minutes to erase all the gains it made heading into the year 2020.

The benchmark cryptocurrency plunged to $5,578 on Coinbase for the first time since May 2019.

The move downhill led its market cap down by about 30 percent to $117 billion, logging one of the biggest declines ever recorded since its inception in 2009.

At BTC’s intraday high, the valuation was $134.7 billion. The latest data revealed that the plunge came shortly after the derivatives platform BitMEX liquidated $680 million worth of XBT/USD long positions.

The spillover led traders on all the crypto exchanges to panic-sell their spot positions, with data portal CryptoCompare showing the average execution of 11,000 trades every second.

The panic was the same elsewhere in the cryptocurrency market. BTC’s 30-minute meltdown led its rival altcoins to erase up to $23 billion off the overall market, with the second-largest Ethereum tanking 30 percent.

Follow up tokens, including Ripple’s XRP, Bitcoin Cash’s BCH, and Bitcoin SV’s BSV too fell in the range of 29 to 32 percent.

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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:

Hot off the press the next issue of the Crypto Trader Digest. A look into my trader brain during this time of intense market volatility. https://t.co/sWmNnvMk25

— Arthur Hayes (@CryptoHayes) March 12, 2020

2020 Gains Wiped as Bitcoin Crashes below $5,600

https://cointelegraph.com/news/bitcoin-can-hit-6k-then-rise-to-20k-in-2020-crisis-says-bitmex-ceo

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Who Is Satoshi Nakamoto? Rounding Up The Usual Suspects After Today’s 50 Bitcoin Transaction

BTC sustained a strong 7% drop ($9,800 to $9,100) on Wednesday after trading in a holding pattern around $9,800 for multiple days in succession.

The leading crypto’s drop coincided with news that one of the first few thousand Bitcoin addresses just made its first transaction.

The address involved is from February 2009 — and the 50 coins that were sent from the address were obtained by mining one BTC block.

Due to how close the address’ “birthday” was to the launch of the Bitcoin network, many were quick to speculate that this transaction was “Satoshi dumping his coins.”

As the pseudonymous cryptocurrency creator owns over a million coins, the aforementioned drop ensued.

While the theory has since been disproven, a prominent cryptocurrency and blockchain investor says that the pretense of Bitcoin’s drop exposes holes in the investment case for most altcoins, especially Ethereum.

When Bitcoin dropped on Wednesday, so did the rest of the cryptocurrency market. Ethereum, XRP, and the rest of the usual suspects posted losses identical to the market leader.

Chief investment officer of crypto fund Arca, Jeff Dorman, postulated in the wake of the drop that the fact “that all large-cap tokens fell too” indicates “most digital assets are not necessary to own.

Dorman added that it was “particularly damaging for ETH today.” Adding to the fundamental blow that Wednesday’s Satoshi drop caused, Ethereum is showing technical signs it wants to retrace.

As reported by Bitcoinist previously, a leading market commentator remarked that the number of ETH that exchanges hold is “basically at all-time highs.”

The metric hit 18 million coins, according to data from Bitcoin analytics firm Glassnode.

The commentator postulated that this trend may be bearish, likely referencing a growing number of Ethereum deposits indicates an increased propensity by investors to sell the asset.

The bearish on-chain case is backed up by technical trends. As shared by a leading Bitcoin trader, Ethereum recently lost a key support level that held on four separate occasions over the past month.

The loss of this support purportedly increases the chances the asset sustains a “larger correction.”

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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:

50 BTC from Feb 2009 is moving.That’s just one month after first bitcoin block was mined. There is not a lot of people who can do this, perhaps close associates of Satoshi.

My question is why, not who, is sending 50 BTC for the first time in more than 10 years.

— Joseph Young (@iamjosephyoung) May 20, 2020

👤👤👤 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown walletℹ️ The coins in this transaction were mined in the first month of Bitcoin’s existence.

Tx: https://t.co/hxDJGGtfF0

— Whale Alert (@whale_alert) May 20, 2020

$BTC just fell 3% because of the equivalent of a 13F filing which shows a big investor is selling (regardless of whether or not the info is accurate, that’s why it fell).

This is the definition of an isolated and idiosyncratic event that should have ONLY affected #Bitcoin

— Jeff Dorman, CFA (@jdorman81) May 20, 2020

7% Bitcoin Drop on Satoshi Fears Shows Why Ethereum Is Dangerous to Own

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With the Crypto community awaiting the next Bitcoin price all-time high, Blockroots CEO, Josh Rager, warns that they might be disappointed if they expect BTC to hit $100k or more.

Bitcoin (BTC) has been a hot topic ever since it started a massive bull run in late 2017, which led the coin to its all-time high (ATH) at $20,000.

As everyone knows by now, Bitcoin saw a massive drop after that, eventually reaching only $3,200 as its lowest point in the last three years.

After the bearish 2018, the following year started showing signs of recovery, taking the BTC price almost to $14k by June 22, 2019.

BTC (Bitcoin) then saw another drop, nearly cutting its price in half.

However, the beginning of 2020 brought another surge that returned investors’ hope that this might be the year when BTC finally exceeds all previous milestones and goes as high up as to $100k, or more.

While this is a popular opinion, Blockroots’ CEO, Josh Rager, disagrees with it. Rager recently made his expectations known on Twitter, admitting that it may be an ‘unpopular opinion,’ but he sees it as more realistic.

In his recent tweet, he stated that Bitcoin’s next price peak will likely not be as high as people expect it to be.

Despite the fact that numerous analysts have proposed prices from $100k to $300k — and some even suggested $1 million.

Rager, on the other hand, claims that the simple rate of return shows the bottom to peak return reduces by 20% per cycle.

With that in mind, he expects that Bitcoin’s next price ATH will only be between $75k and $80k.

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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:

$BTC Unpopular Opinion:The next Bitcoin peak high will not be as high as most people thinkLots of analysis out there point from $100k to $300k to $1MSimple rate of return will show you bottom to peak return reduces by around 20% each cycle

IMO, next high hits $75k to $85k pic.twitter.com/EoWZqcWfbe

— Josh Rager 📈 (@Josh_Rager) January 17, 2020

Next Bitcoin Price ATH to Fall in the $75k-$85k Range