JPMORGAN CHASE TO LET CLIENTS INVEST IN BITCOIN FUND FOR FIRST TIME!! $220K IN 2021 STILL IN PLAY!!

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Due to the debasement of the US dollar, Tuur Demeester thinks $50,000 Bitcoin – or even $100,000 BTC price – isn’t out of the question.

Bitcoin continues to show impressive price trends amidst a coronavirus-induced gloomy macroeconomic outlook.

The Bitcoin price has ballooned by circa 150 percent after bottoming out near $3,800 on March 13, 2020.

Meanwhile, analysts and traders are betting on its extended growth, with a price prediction model even envisioning it above $280,000 by 2024. 

Adding his forecast to a long list of bullish predictions is Tuur Demeester, an influencer known for investing in Kraken, a U.S.-based crypto exchange, via his fund Adamant Capital. Mr. Demeester said he sees Bitcoin anywhere between $50,000 and $100,000, stating that the cryptocurrency will not fall back below $6,000 ever again.

The bold prediction surfaced a day after Bitcoin options’ open interest on Chicago Mercantile Exchange rose to near $150 million – its highest level ever.

Analysts treat CME as the best gauge of interest in Bitcoin for institutional investors. Mr. Demeester used a similar metric to justify why the cryptocurrency could surge by up to 950 percent.

The analyst noted that the cryptocurrency is entering a “deployment phase” – a period wherein big Wall Street players are beginning to associate themselves with emerging blockchain assets.

He mentioned JP Morgan Chase & Co, a banking institution that once treated Bitcoin as fraud-money, suddenly embracing two of the biggest U.S. crypto firms as its clients.

The Wall Street makeover of Bitcoin also continued with considerable investment from Paul Tudor Jones.

The billionaire hedge fund manager, as Mr. Demeester pointed out, recently put 1-2 percent of his portfolio’s worth into bitcoin futures.

That validated the cryptocurrency as insurance against global market risks.

“It’s a land-grab phase,” said Mr. Demeester on the ongoing institutional influx. “You know [bitcoin] is going to be big [and] it is not correlated with traditional financial systems [..] Institutions are staking their claims and see what is going to be built atop [Bitcoin] later.”

Family offices, billionaires, hedge funds, and the interest of other prominent investors in Bitcoin could quickly push the price above $50,000, he added.

In other trending Bitcoin News today:

Chainlink Partners With Korean Tech Giant to Boost Blockchain and Crypto Mass Adoption

Chainlink, a leading platform in the blockchain industry for connecting smart contracts to real-world data sources, has signed a partnership with an affiliate of South Korean internet giant Kakao, the company behind KakaoTalk, one of the most popular mobile messaging apps in Asia.

Kakao’s Klatyn is the company’s public blockchain project. The partnership will see the integration of Chainlink’s oracles with Klaytn’s smart contracts.

According to its team of developers,

“Smart contracts need to interface with the data feeds, events, and widely accepted payment methods that centralized digital agreements rely on to provide value. By providing the building blocks needed by complex smart contracts in the form of critical inputs and key outputs, we seek to enable the next generation of smart contracts that will step beyond tokenization to become the dominant form of digital agreement.”

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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://bitcoinist.com/bitcoin-bottomed-says-top-investor-as-institutional-inflow-hits-record-high/

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Influential investor Raoul Pal says the best trade he’s ever found is Bitcoin, which he’s described BTC as “a call option on the future” and “the world’s most pristine reserve asset.”

In a recent interview on Yahoo Finance, Pal said that the central banks move toward digital currencies is “literally the biggest story” in his career.

Investors like Pal don’t want to compete against central banks, but aim to create “a digital world,” Pal said, underscoring that despite big reservations, policymakers don’t appear to want to ban crypto completely.

“They understand the technology is out of the bottle. The genie is out of the bottle,” the investor said.

“There’s nothing you can do about it. It’s not going away. It’s too small to matter still.”

Pal has stated repeatedly that bitcoin’s price could get to $1 million, becoming a $10 trillion asset class, and possibly surpassing the gold market.

In the last year, bitcoin’s price has surged more than 42% to last trade near $13,137. In the last month, the digital currency has jumped more than 22%.

With a market cap of around $240 billion, bitcoin is approximately the size of a “large, mid-cap S&P [500 Index] stock,” Pal pointed out.

As it moves to $500 billion or $1 trillion, “suddenly it’s a real asset class and sucks in more money.”

One of the drivers will be the “wall of institutional money” coming.

“It becomes a Soros-style reflexive loop where we’ve got the macro story backing it up,” said Pal — referring to George Soros, the speculative investor once credited with “breaking” the Bank of England in a bet against the British pound.

“We’ve got the flow of funds backing it up, then we’ve got the move, which the central banks are driving. It’s literally the biggest story I’ve seen,” Pal said.

What it means is more printing of currency. That’s not just the U.S. It’s basically every single country on earth is doing the same thing.

In Pal’s view, bitcoin “plays a role as the world’s most pristine reserve asset” for individuals, corporations, pension funds.

“It’s an incredible asset. It’s the only one with a limited supply with growing demand. It’s an extraordinary thing,” he said.

In other trending Bitcoin News today:

Bitcoin Monthly Candle Closes Above $13K For The First Time Since 2017

The monthly candle of Bitcoin (BTC) for October has closed above $13,000 for the first time since December 2017.

It comes after both daily and weekly candles all closed above the crucial resistance level.

Ark Invest’s Cathie Wood emphasized the importance of the $13,000 level.

Wood, who manages $11 billion in assets under management at Ark Invest, said there is little resistance between $13,000 and $20,000.

This means if Bitcoin breaks out on a high time frame chart, the probability to rise to a new record-high could get higher.

She said:

“That $13,000 [level] is important because if we were to get through that, then in technical terms, there would be very little resistance and we would probably be on our way back to the peaks we saw in late 2017 — so, around $20,000. Now, we’re not sure if that is going to happen. We could stay in a new trading range, just at a little bit of a higher level than the recent six to 10. Maybe we’re in the $10,000 to $13,000 range. Nonetheless, a breakout.”

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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://money.yahoo.com/raoul-pal-on-bitcoin-as-a-reserve-asset-120007396.html

https://cointelegraph.com/news/bitcoin-monthly-candle-closes-above-13k-for-the-first-time-since-2017

https://cointelegraph.com/news/bitcoin-is-the-best-treasury-reserve-asset-humanity-s-ever-had

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

Dan Held, growth lead at crypto exchange Kraken, is outlining the catalysts that he believes could ignite a Bitcoin ‘Supercycle’, catapulting the BTC price to $1 million.

In a new episode of the What Bitcoin Did podcast, Held explains why he believes the current bull market could grow exponentially larger than Bitcoin’s boom cycles in 2013 and 2017.

“When I look at these cycles though, what makes me very excited about this upcoming one, which could be… a supercycle, is that this time, is different. The 2013 bull run, the 2017 bull run, it was mainly based on retail-driven speculation. The macro markets, the rest of the world, was doing fine. It was a large bull run and these were mainly speculative cycles run by retail with a very shaky infrastructure…

With this bull run, we’ve got a lot of different things lined up.”

According to Held, Bitcoin’s primary use case as a store-of-value asset was put into the spotlight by the Covid-19 pandemic amid the rampant money printing of governments across the globe.

Covid was the catalyst moment that makes Bitcoin shine. With the Covid lens when we look at Bitcoin, for most people who had dismissed it previously, now it makes sense. And that’s where we see this echoed by the institutions. The managers of all the wealth in the world, the large portion of wealth in the world, they look at Bitcoin as a store of value, as a gold 2.0… And that is a huge value for the world. 

As the governments had their response to Covid-19 being money printing, that will devalue these currencies eventually and folks are looking at the 21 million fixed hard cap of Bitcoin. They are looking at this monetary policy, they are looking at Bitcoin’s construction, and how decentralized it is. Now you can store value in it and no one can take that value away from you, as this incredible lifeboat…

So Bitcoin’s demand, or people believing in Bitcoin, that market has grown tremendously to where now we have institutions.”

Held adds that the improvement in cryptocurrency infrastructure, which has made the flagship crypto asset more accessible to retail investors, is another factor that could continue fueling demand.

“We also have a much more vast retail customer segment. So retail buyers can now buy Bitcoin on PayPal, Robinhood, Cash App. They can buy it everywhere. And eventually, that’s going to reach brokerages like Fidelity, like within a retail brokerage Fidelity or E-Trade and Interactive Brokers. Eventually, you’re going to be able to buy Bitcoin everywhere, which means Bitcoin can now tap into all demand that wants it.”

For the current bull run to qualify as a supercycle, the Kraken Bitcoin needs to appreciate over 20x from its current value of $48,944.

In other trending Bitcoin News today:

Bitcoin Breaks $50K: Why BTC Price Is Primed For Another Leg Up

The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major exchanges, including Coinbase and Binance Futures.

CryptoQuant CEO Ki Young Ju explained that Bitcoin’s struggle to break past $50,000 is about “Coinbase whales (USD) vs. Stablecoin whales (USDT).”

Ki emphasized that there was a negative Coinbase premium at the time Bitcoin rejected $50,000 in the morning. For BTC to cleanly break past it, he explained that the negative premium has to be “cooled down.”

Since the initial rejection, the Coinbase premium has stabilized, reaching parity with Binance’s Tether price.

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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:

Number of the day: 4,000,000,000,000$4T of cash sitting in US non-financial corporations.$4T is also Gold’s financial cap.

$4T is also #Bitcoin‘s projected cap for end of this year on current models.

— Willy Woo (@woonomic) February 16, 2021

https://cointelegraph.com/news/bitcoin-futures-break-50k-why-btc-price-is-primed-for-another-leg-up