MACRO GURU RAOUL PAL FIGHTING THE URGE TO SELL ALL HIS BITCOIN FOR ETHEREUM – HERE’S WHY!!

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With Bitcoin closing the month of October at $13,816, this signals the highest monthly close for BTC since December of 2017.

October’s monthly close also signals the highest red dot close to date via the Stock-to-flow model, a clear indication that this controversial Bitcoin price prediction model is right on track ‘still’ targeting $288K by 2024.

Bitcoin briefly spiked above $14,000 again, this time perhaps on news from the US Presidential elections.

The altcoins have erased most of yesterday’s losses, and the market capitalization has added about $10 billion.

Bitcoin broke above the coveted $14,000 mark on Saturday for the first time since January 2018.

Since then, though, the asset has primarily struggled with maintaining its high price tag.

In fact, BTC even dipped below $13,300 on two occasions in the following days.

It started recovering yesterday when it jumped above $13,500 and stayed above it for most of the past 24 hours.

Just a few hours ago, the primary cryptocurrency headed higher once more.

With a few decisive candles, Bitcoin surged to $14,050 (on Bitstamp) before retracing to its current level – $13,800.

Interestingly, the price increase coincided with surfacing reports that the current US President Donald Trump has become the betting favorite to win the 2020 Presidential elections.

Nevertheless, popular TV host Max Keiser recently highlighted that despite who’s the US President following the elections, Bitcoin will emerge as the ultimate winner.

In other trending Bitcoin News today:

“$17K Next? Watch These 3 Key BTC Price Levels”

Bitcoin (BTC) has been on a tear and there’s no escaping it.

But the majority of high-cap altcoins are seemingly suffering at the hands of this bull run, leading to the question: have we had our altseason already?

Is it over or is there more to come?

Bitcoin has been eating up multi-year resistance levels like Pacman on an amphetamine-induced rampage lately, smashing through $11,300, then $12,400 then $13,100 before being rejected around the $14,000 level.  

After $14,400 there isn’t much in the way of resistance until $17K before a new all-time high can be printed for the king of cryptos.

But the question is can Bitcoin run out of steam?  

In other trending BTC News today:

“Bitcoin Bull Cynthia Lummis Wins US Senate Seat”

Cynthia Lummis, the Republican Party candidate for Wyoming, “publicly said” on the night of November 3 “that she wants to defend [crypto] against federal encroachment,” per a tweet from Avanti Bank & Trust CEO Caitlin Long, a Wall Street veteran and fellow crypto advocate.

Lummis is known to be a long-term bitcoin enthusiast and said she made her first purchase in 2013, in the days when one could buy BTC 1 for around $300.

Lummis has previously served in Congress, and recently told the Wyoming Blockchain Stampede in a video interview, “During my time in Congress, I first learned about bitcoin. I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply. […] Knowing that there are only going to be 21 million bitcoin makes it an attractive store of value.”

This last point, she stated, was important as the USD’s status as the world’s de facto reserve currency is now coming under threat.

“Bitcoin, to me, has shown great promise and may rise as a viable alternative store of value to the US dollar, both on the institutional level and the personal level. That potentiality is something we must at least acknowledge in our conversations about the economic future of our country.”

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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:

Price of #Bitcoin at the last 3 US presidential elections: 2012: $102016: $7002020: $14,0002024: ?

Where do you think the $BTC price will be in 2024 at this time? My prediction is $288K! 😎🚀

— Crypto News Alerts (@CryptoNewsYes) November 4, 2020

SENATOR LUMMIS…YESSS!!!🤠 She is likely to be one of the most powerful US senators, given how divided the new senate appears to be. She LOVES what #Wyoming did in #crypto—publicly said tonight that she wants to defend it against federal encroachment. 🙏Congrats Sen Lummis!🚀 pic.twitter.com/FVI7sBcB2t

— Caitlin Long 🔑 (@CaitlinLong_) November 4, 2020

#Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply pic.twitter.com/w742J7bXfC

— Mike McGlone (@mikemcglone11) November 4, 2020

https://cryptonews.com/news/bitcoin-bull-cynthia-lummis-wins-us-senate-seat-8197.htm

https://cryptopotato.com/bitcoin-pumped-above-14k-as-trump-becomes-betting-favorite-to-win-elections-market-watch/

https://cointelegraph.com/news/can-bitcoin-hit-17k-next-watch-these-3-key-btc-price-levels

https://cointelegraph.com/news/bitcoin-is-targeting-288k-stock-to-flow-price-like-clockwork-planb

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In this exclusive interview, crypto analyst Philip Swift shares some live Bitcoin technical analysis which suggest we easily see a $100K+ BTC price next year.

“Into next year, probably Q3, Q4 I think we’ll be around $100K. Then as you’ve seen before we get these blow-off tops. Once price breaks above the red line I can easily see us heading up well above $100K, maybe the high $100K levels, so good times ahead.”    

Philip also shares some very bullish on-chain analysis charts as well as the ‘Golden Ratio Indicator’ which suggest a $22K-$24K Bitcoin price target in the weeks ahead. 

Show Notes / Resources:

🔥 Philip’s DecenTrader Software: https://decentrader.com/ 

🔥 Follow Philip on Twitter: https://twitter.com/PositiveCrypto

In other trending Bitcoin News today:

Not just Wall Street: Quant Trader Explains Why Bitcoin Price Is Going Up

Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the BTC price. 

The catalysts are increasing adoption, whales, inflows from other products into Bitcoin, and influence from other markets.

Alameda Research is a major cryptocurrency firm that trades a variety of cryptocurrencies and derivatives, with a volume between $600 million and $1.5 billion a day.

Throughout the past month, Cointelegraph has continued to report on the trend of whale accumulation.

Whale clusters form when whales buy Bitcoin and do not immediately sell. This typically indicates that whales bought BTC, sent them to their personal wallets, and have not moved their funds.

The accumulation of Bitcoin from whales possibly synergized with a profit-taking pullback in the altcoin market. Notably, when the decentralized finance market pulled back, Bitcoin continuously saw a significant rally.

Based on various trends and data points, Trabucco said the four abovementioned factors likely contributed to the Bitcoin rally over the past months. He wrote:

“So, first off, why ‘up’? There’s been a lot of discourse about this — some reasons for BTC to go up I’ve seen postulated include lots of institutional buying, increased adoption, ‘whales,’ outflows from faddish products back into BTC, influence from other markets, etc.”

Atop these factors, Cointelegraph reported that the Bitcoin exchange reserves are also declining at a rapid rate.

Bitcoin exchange reserves drop when investors increasingly pull their funds out of exchanges. Since investors often deposit cryptocurrencies to exchanges to sell, this trend suggests that there are fewer sellers in the market and a smaller available supply of BTC.

When positive fundamental and technical factors coincide with an overall drop in selling pressure, it could buoy the momentum around Bitcoin.

According to Trabucco, Joe Biden’s projected victory and the prospect of Moderna and Pfizer vaccines are both positive factors for Bitcoin.

The support for Bitcoin from various tech companies including PayPal, banks, politicians, high-net-worth investors and billionaires are all likely pushing up the BTC price, the trader argues. He wrote:

“My take would be: eh probably a combination. I do think that Biden’s victory and the vaccines were net good for e.g. SPY which has both short- and long-term correlation to BTC in the COVID era, which contributed. 

And there are also legit a lot of traditional companies / entities — banks, hedge funds, random rich people, thought leaders, tech companies, Wyoming senators, etc. — signaling support for BTC, which both directly (buying) and indirectly (sentiment) influences its price up.”

In the near term, the roadblock for Bitcoin remains the $18,500 resistance area. Above it, there is little resistance until a new all-time high, after which BTC would enter the uncharted waters of price discovery.

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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/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up

➡️ OPM Wealth: http://opm.cryptonewsalerts.net

3 Reasons Why Bitcoin Price is Macro Bullish & Could Soon Go Parabolic

Per a tweet from a prominent Cryptocurrency trader that went industry-viral, there are three reasons why he thinks the BTC price is entirely bullish on a macro basis:

Trader Satoshi Wolf recently noted that per his analysis of Bitcoin’s one-month candle chart over the past three years, there are at least three bullish technical analysis and fundamental signs that can be seen:

Firstly, the recent price decline that Bitcoin has seen from $14,000 to a low of $6,400 has been marked by decreasing volume, which he claims is “bullish.” Indeed, falling volumes in a downtrend would indicate that the sellers are gradually losing control.

Secondly, Bitcoin (BTC) in December decidedly bounced off the key $6,400 macro support level, which has been a level of utmost importance since early-2018, in December on high buying volumes.

And lastly, the block reward reduction for Bitcoin, which will decrease the inflation rate of the cryptocurrency by half, is on the horizon (May 2020). This event has been found to be correlated with upswings in the market.

This confluence of factors suggests Bitcoin may in the coming months explode past $10,000 and maybe even higher.

$75,000: Bitcoin’s Price is Set to Climb Exponentially If This Fractal Plays Out

Now one prominent analyst is explaining that Bitcoin’s recent price action is closely mirroring a fractal pattern seen just prior to the parabolic rise in early-summer of 2019, which may suggest that Bitcoin will soon rally into the five figure price region.

This rally may lead it into a significant resistance region, but it is important to note that there is a key level just above its 2019 highs that could catalyze a move that allows BTC to set fresh all-time highs.

BTC’s Rally Could Turn Parabolic If Next Upswing Leads It to Over $14,200 If the eerily accurate fractal that Dave The Wave muses continues playing out, it appears to be a strong possibility that the crypto could be just a mere matter of months away from its next parabolic phase that leads it up towards $75,000.

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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:

Yikes….Shorter to medium term. If price continues to break higher on another smaller parabolic run, the symmetrical triangle formed may serve to provide some resistance. Once that breaks

⬆️ pic.twitter.com/sl2DAUaBnd

— dave the wave (@davthewave) January 19, 2020

a) This would mean nearly 1,5 TRILLION marketcapb) money doesn’t grow in the treesc) remember you are using a log-based chart ( exponential profits can last forever)

d) please don’t forget also that a LOT of people follow and trust your words🙏

— Crypto Spain (@CryptoZeben) January 20, 2020

A good mate asked for my take on $BTCThe monthly chart says it all:1. Price decline + volume decline = Bullish2. Volume backed bounce off strong support = Bullish3. Halving = Bullish

Until something changes I am Bullish on #Bitcoin and will do everything to get more. pic.twitter.com/XGWxLUpCJF

— Satoshi Wolf (@SatoshiWolf) January 22, 2020

These 3 Reasons Are Why Bitcoin’s Price May Soon Explode Past $10,000