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The Bitcoin price dropped below $34,000 as traders look to the next key levels of support. In the near term, the major macro level for BTC and Ethereum remain at $30,000 and $2,000, respectively. According to traders like TraderKoz, if Bitcoin can remain above $37,000 throughout the weekend and recover to around $37,500, the chances of overtaking $42,000 become high.
In other trending Bitcoin News today: Will Bitcoin Still Hit $100,000? Crypto Analyst PlanB Analyzes the State of BTC Market. In a new interview with trader Scott Melker on The Wolf of All Streets, PlanB emphasizes he believes that his stock-to-flow models, which predict that Bitcoin will eventually hit $100,000 or $288,000, are still intact.
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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/bitcoin-price-slips-below-34k-what-are-the-key-levels-to-watch
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BITCOIN SELLING FOR ,000 IN IRAN! | Why The BTC Price Could Hit K In 2020
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Will the Bitcoin price âMoonâ if there is a war with Iran?
Iran-based sellers on peer-to-peer trading platform LocalBitcoins are currently asking for around 1 billion Iranian rials or over $24,000 per Bitcoin (BTC), based on the official exchange rate from the countryâs central bank.Â
Founder of crypto analytics outlet Messari, Ryan Selkis wrote:
âBitcoin is trading at nearly $24,000 in the USD equivalent of Iranian Rials on LocalBitcoins today. Itâs unlikely those purchases are paying for the Iranian militaryâs response. Instead, it might be innocent (and desperate) Iranians looking for a way out of the coming chaos.â
While the BTC price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year.
In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019. On Friday morning, Nexo co-founder Antoni Trenchev told Bloombergâs Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.
âI think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,â said Trenchev.
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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://www.forbes.com/sites/investor/2020/01/03/bitcoin-war-iran/#5c6cb96f343b
https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate
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WHEN 0K BITCOIN? BTC Price Prediction Model | CHAINLINK (LINK) To Hit New All-Time High Soon
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With the Bitcoin halving rapidly approaching, the multi-billion-dollar question is just how the historic event will impact BTC price.
One popular Bitcoin price prediction model has a post-halving price in the range of $55,000 to $400,000.
According to the theorist behind the prediction, people have been misinterpreting the model behind the lofty figures presented.
The analyst responsible for them has addressed the confusion, advising folks not to hold their breath for a $50,000+ Bitcoin (BTC) during the three months leading up to the halving.
Apparently some people have interpreted the already extremely bullish BTC price prediction model as even more optimistic than it is though.
Analyst Plan B addresses the misunderstanding in the following tweet:
âSome misunderstandings about S2F model: 1) That it predicts $100k by May2020. No, it predicts $100k May2020-2024 average, like the chart shows 2) Why $100k, it was $55k? Yes, the original model on monthly data (Mar22) says $55k, but a new model on yearly data $100k. Your choice.â
The analyst clarifies that the price mentioned in the original paper (and a higher target of $100,000 worked out using yearly data) is not a pre-halving prediction.
Instead, it refers to the average price we can expect at some point after the event itself.
CHAINLINK (LINK) TO HIT A NEW ALL-TIME HIGH SOON, ANALYST CALLS
Chainlink crypto, a project that joined the crypto market relatively late, is on an expansion again, promising to break its all-time record.
LINK, one of the most active altcoins that has even defied the bear market, is on a fast expansion once again.
The asset has been known for its rapid, significant appreciation boosted by activity on Binance and a strong community.
LINK remains volatile, sinking from its highs by as much as 60%, but expansions are dramatic.
This time, while an altcoin season is not a promise, most assets regain some of their value.
This translates into significant earning opportunities as altcoins move very fast. What is even more curious, LINK made most of its gains during the bear market of 2019, and has repeated price peaks in the past year.
âThere is virtually little to no resistance between here and the ATH for $LINK We should see new ATHâs & price discovery next few months â this alt rebound Iâm confident will continue with $BTC halving looming in the background and the bull market cycle progressing forward âŠâ
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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:
There is virtually little to no resistance between here and the ATH for $LINK
We should see new ATH’s & price discovery next few months â this alt rebound I’m confident will continue with $BTC halving looming in the background and the bull market cycle progressing forward ⊠https://t.co/EvECsnOR4e
â Satoshi Flipper (@SatoshiFlipper) February 7, 2020
Some misunderstandings about S2F model:1) That it predicts $100k by May2020. No, it predicts $100k May2020-2024 average, like the chart shows
2) Why $100k, it was $55k? Yes, the original model on monthly data (Mar22) says $55k, but a new model on yearly data $100k. Your choice. pic.twitter.com/QkCFepZHpw
â PlanB (@100trillionUSD) February 7, 2020
A Bitcoin Price of $15,000 Will Make BTC Mining Profitable Post Halving
Chainlink (LINK) to Hit a New All-Time High Soon, Analyst Calls
When $100k Bitcoin? Analyst Clarifies Popular BTC Price Prediction Model
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BREAKING: FIDELITY PRESIDENT LAUNCHES NEW BITCOIN FUND; 0,000 BTC MINIMUM BUY-IN PRICE!!
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One of the largest mutual funds in the U.S., Fidelity Investments, is enhancing its efforts in the Bitcoin and crypto space with its chief strategist, Peter Jubber, starting an institutional-grade and high net worth clients-focused BTC index.
According to a filing sent to the Securities Exchange Commission (SEC), Fidelity Investments has launched a new Bitcoin index fund, âWise Origin Bitcoin Index Fund I, LPâ that targets high net worth investors and institutions.
A $100,000 minimum buy-in value is required by the index fund following the demand by corporations and accredited investors on Wall Street on cryptocurrency investments.
The Wise Origin Bitcoin fund was launched by the head of strategy and planning at Fidelity Investments, Peter Jubber, in conjunction with the mutual fundâs brokerage and distribution divisions.
The fund aims to provide a gateway for accredited investors on Wall Street to dip their feet into crypto.
Fidelity is known for its soft stance on crypto investing, owning stakes in crypto companies such as Canadian mining firm, 8Hut, and providing custodial services to institutions.
Jubber, also a well-known enthusiast and evangelist of Bitcoin and blockchain, in 2017 said the firm was sketching out a decade long plan on the impacts and opportunities that blockchain technology offers to traditional finance.
Peter will lead the âWise Origin Bitcoin Index Fundâ as the executive director and FDâs Fundâs president.
Reports on Forbes also confirm that a Delaware based firm, FD Funds GP will become a general partner to Fidelityâs new BTC fund.
Fidelityâs reports on the cryptocurrency market this June showed that over 36% of big institutional investors were taking up digital assets, and another 80% of them stating they find crypto appealing.
Moreover, a recent report by the mutual fund concluded there is an increasing interest in Bitcoin as a store of value with the worldâs witnessing unprecedented fiscal and monetary policies.
In other trending Bitcoin News today:
Stablecoin metric hints Bitcoin price will rise as buyers snap up BTC!
At $11,400, Bitcoin (BTC) is ripe for a fresh price surge thanks to stablecoin investors buying up cheap coins, data suggests.
Highlighting the latest readings from its stablecoin supply ratio (SSR) metric on Aug. 26, on-chain monitoring resource Glassnode forecast upside for BTC/USD.
SSR refers to the potential buying power of stablecoins over Bitcoin. A low Bitcoin price allows stablecoin owners, for example, on exchanges, to purchase more of the BTC supply.
This demand pushes the price of Bitcoin up, given its predictable, verifiable supply and high stock-to-flow ratio.
As the price increases, stablecoins, which remain priced the same in whichever fiat currency they are pegged to, can buy less of the BTC supply.
The ability to enter a BTC position is called âbuying power.â
Currently, that buying power is high, meaning stablecoin owners can purchase a comparatively large amount of the supply.
âSSR is 3x stronger than it was when BTC hit these price levels over a year ago,â Glassnode commented.
In another tweet, the firm noted that the largest stablecoin, Tether (USDT), was conspicuously primed to enter such positions.
âFurther support comes from an increase in the $USDT (ERC20) balance on exchanges over the past year â indicating that stablecoins are waiting on the sidelines.â
Tetherâs market cap passed a landmark $10 billion in July. In terms of average daily transfer value, USDT beat both Bitcoin and PayPal this month.
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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:
đ„đ„đ„This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)
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â PlanB (@100trillionUSD) August 27, 2020
#phase5 https://t.co/JfCkPRQzAG
â PlanB (@100trillionUSD) August 26, 2020
https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12
https://cointelegraph.com/news/stablecoin-metric-hints-bitcoin-price-will-rise-as-buyers-snap-up-btc
https://cointelegraph.com/news/latest-fidelity-filing-outlines-mainstream-bitcoin-trading-product
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