John McAfee: MILLION BITCOIN PRICE BY END OF 2020!!! | 5 Reasons Why!

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“This is the most important Bitcoin breakout in BTC history”, says popular Crypto analyst CryptoBirb.

He’s referring to Bitcoin’s recent ability to break above a descending trendline and bull pennant that has been formed since the 2017 peak.

We saw a similar breakout in June of 2016, which is what sparked the massive uptrend that ultimately resulted in Bitcoin seeing a parabolic move to $20,000 in late-2017.

If history rhymes, this could mean that Bitcoin is entering the early phases of its next major bull trend.

ANALYST: BITCOIN MAY “TELEPORT” TO $13,000 IF IT BREAKS KEY LEVEL

Bitcoin is stuck beneath $12,000. This stalling momentum comes after the cryptocurrency incurred an incredibly strong uptrend that had led it from lows of $9,000 to highs of $12,000 in a matter of weeks.

The cryptocurrency’s ongoing consolidation phase suggests that buyers don’t have enough buying pressure to shatter the resistance that sits just above where it is currently trading.

It may also indicate that buyers are losing their momentum. Nonetheless, BTC is still just a hair away from closing above a crucial level that could allow it to “teleport” up towards $13,000.

It is essential to consider that BTC is currently in a multi-day consolidation phase directly after being caught within a strong bull trend.

This isn’t an uncommon occurrence within bull markets, and BTC could even dip lower while still maintaining its market structure.

The crucial level that buyers need to defend going forward sits at $10,500, which was previously a resistance level that had held strong for nearly a year.

If this level is broken below, it may negate the strength that Bitcoin has been incurring in recent weeks.

At the moment, it does not appear that any sort of sharp downtrend is imminent, as each dip over the past several days has been rapidly absorbed by buyers.

Despite its stalling momentum, Bitcoin is just a hair away from breaking above a crucial level that could lead it to see massive upside.

One popular cryptocurrency analyst spoke about this level in a recent post, noting that a close above the region between $11,800 and $12,000 could be all that is needed for BTC to “teleport” to $13,000.

“Weekly close above and you will witness an immediate teleportation to 13k,” he said.

In other trending Bitcoin News today:

ChainLink (LINK) Inches Closer to 100x in Returns Since ICO

Going back in time to September 2017 during ChainLink’s ICO, we find that the price per LINK on offer during the crowd sale was $0.11.

Doing the math and using the new all-time high value of $10.77, this translates to a return on investment of 97X.

This, in turn, means that for every $100 spent during the ICO period, investors are in profit to the amount of $9,700.

According to CoinCodex, those who used Ethereum and Bitcoin to participate in the Chainlink crowdfunding, have an ROI of 32.54x and 71.30x respectively.

Additionally, LINK marines are very much confident regarding the fundamentals governing the upward trajectory of ChainLink.

Some LINK marines have gone as far as declaring that they will start taking profits when the digital asset hits $100.

Below is one tweet that demonstrates investor confidence in ChainLink.

“We aren’t taking profits until $100”

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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:

Breakout from range confirmed when:➡️ successful retest of resistance as support (bouncing from it)➡️ bounce closes higher than previous high

Then and only then we can talk about 250k and endless financial freedom$BTC pic.twitter.com/0UgFUR6uCI

— Teddy (@TeddyCleps) August 6, 2020

Analyst: Bitcoin May “Teleport” to $13,000 if It Breaks Key Level

ChainLink (LINK) Inches Closer to 100x in Returns Since ICO

Analyst: Bitcoin Just Posted the “Most Important Breakout” in BTC History

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

Bitcoin is nearing $40,000 this Monday as a new week gets underway with a bang for bulls.

Spot BTC price action is, naturally, the topic on everyone’s radar at present — in 24 hours, Bitcoin has sealed gains of nearly 15%.

An anonymous source within Amazon has reportedly told London business newspaper City A.M. that the e-commerce giant is planning to start accepting Bitcoin (BTC) payments by the end of 2021, possibly setting the stage for broader mainstream acceptance of crypto transactions. 

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future — this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the source told City A.M., according to a report published on Sunday.

The source indicated that, while Bitcoin is the first step in Amazon’s crypto ambitions, executives at the company were keen to add other established cryptocurrencies in the future. The “directive is coming from the very top,” referring to Jeff Bezos, they said, adding: 

“This entire project is pretty much ready to roll.”

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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:

https://cointelegraph.com/news/amazon-plans-to-accept-bitcoin-payments-this-year-claims-insider

https://cointelegraph.com/news/global-crypto-atm-installations-increased-by-70-in-2021

https://cointelegraph.com/news/china-s-crackdown-signals-an-oncoming-crypto-ban-bobby-lee-says

https://cointelegraph.com/news/btc-price-burns-bears-en-route-to-40k-5-things-to-watch-in-bitcoin-this-week

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Tone Vays, the well-known BTC derivatives trader, believes the Bitcoin price will stay above $10,000 for the rest of 2020. 

At the start of the year, Vays said he was skeptical the BTC price would break $20,000 in 2021 but now he thinks it’s possible for the top cryptocurrency to overtake its record all-time high.

If the price of Bitcoin surpasses $20,000 in the medium-term, Vays said history shows it tends to double.

Based on the historical price cycles, he said the $45,000 to $50,000 range is a reasonable target.

During an interview with IGTV, Vays said:

“Every time Bitcoin breaks a prior all-time high, especially when it takes years to break that all-time high, it tends to usually more than double. So I think $45,000 to $50,000 is a reasonable target.”

Throughout 2020, Vays said Bitcoin would likely stay above $10,000 and gear towards $20,000 the following year.

He noted:

“In the beginning of the year, I thought that even next year would be a struggle to break $20k. Now I think it’s pretty likely that we’ll break $20k next year.”

As on-chain analysts have said throughout August, the $10,000 area has become a strong support level for Bitcoin.

As long as a key psychological level at $10,000 is intact, an extended uptrend becomes more likely.

Vays also drew a comparison between Bitcoin and gold. He emphasized that gold broke its all-time high and saw a 5% upside past its previous high fairly quickly. 

The trader explained that Bitcoin could do something similar over the medium to long-term when it breaks its previous all-time high at $20,000. He stated:

“We are watching what’s happening with gold right now. Gold finally broke its all-time high, that it made ten years ago, just recently, and it went already $100 past that. So it went 5% more fairly quickly. So let’s see how fast gold goes up since breaking all-time high, and Bitcoin can do something similar.”

How far could Bitcoin go?

Various price models predict the price of Bitcoin to reach anywhere between $30,000 to $250,000 in the long-term. 

According to Vays, he would be satisfied if the next top of Bitcoin is at around $45,000.

Historically, Bitcoin has seen a major breakout past its previous record high, reach a new peak, then correct.

A rapid upsurge to unsustainable price levels could leave BTC vulnerable to sharp drops. He added:

“Do we think we go as high as $100,000? I’m not willing to make that statement. For me, I would be happy if the next top was around $45,000, and that can happen quickly.”

In other trending Bitcoin News today:

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

Bitcoin price recently set a new high for 2020 but has since pulled back to just under $12,000.

However, the cryptocurrency is slightly “ahead of schedule,” according to a top crypto expert and former Google engineer.

Because the asset is further beyond in its cycle “trajectory,” it could mean that there’s still more downside to go before the bull run picks up in steam.

In the end, however, it doesn’t matter, as the same projection brings the cryptocurrency to a peak of over $325,000 in under two years.

According to the crypto expert, if the cryptocurrency was following the last cycle exactly, the price per BTC should be trading around roughly $10,800.

Currently, BTCUSD is trading roughly $1000 higher following a pullback that began after setting a local high at $12,400.

If Bitcoin continues to follow this path, and it has thus far, the next peak would arrive sometime around October 19, 2021.

The target? $325,000.

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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:

If we were to follow the 2016/17 trajectory (we’re ahead of schedule right now), the peak of the cycle would occur on October 19th, 2021 and the peak price would be approximately…

$325,000 👀

— Vijay Boyapati (@real_vijay) August 19, 2020

Stats showcasing crypto growth in 2020– Crypto market cap +95% – Stablecoin market cap +185%

– $BTC +65%

– $ETH +220%
– $LINK +800%– BTC futures OI +50%– BTC options OI +560%– BTC CME futures OI +660%– BTC CME futures OI (in BTC) +360%

– Total value locked in DeFi +900%

— Alex Krüger (@krugermacro) August 20, 2020

Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

https://grayscale.co/wp-content/uploads/2020/08/Grayscale_Valuing_Bitcoin.pdf

https://cointelegraph.com/news/grayscale-bitcoin-market-looks-like-2016-before-historic-bull-run

https://cointelegraph.com/news/50k-bitcoin-is-reasonable-if-btc-hits-new-highs-says-tone-vays