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

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Bitcoin has every possibility to grow its market size by 15-20X within the next 15 months, according to BTC bull Anthony Pompliano of New York-based hedge fund Morgan Creek Digital.

“My base case is approximately 10x to $100,000 and the bull case is around $250,000 per bitcoin,” he predicted after assessing all the said catalysts.

The founder said in a note to investors that they should put 1-10 percent of their investable capital into Bitcoin.

Recalling his own portfolio’s 50 percent exposure in the cryptocurrency, Pomp cited a string of upside catalysts that would benefit anyone who invests-in/holds the 11-year old financial asset.

The first optimistic fundamental in line was the Federal Reserve and its unprecedented monetary policies.

The US central bank in April cut its interest rate to near-zero to boost lending amid the coronavirus pandemic.

In its recent remarks, the Fed vowed to keep the rates lower for the foreseeable future.

More tailwinds Bitcoin’s bullish bias came from the US government’s $3 trillion stimulus package.

Because of it, the Fed’s balance sheet expanded by 75 percent since the beginning of 2020.

The bank further announced that it is targeting a 2 percent-plus inflation level.

“The average investor fears inflation right now, regardless of whether we [actually] see that inflation or not,” wrote Mr. Pompliano, adding that the “fear has driven significant capital flows into inflation-hedge assets (Gold, Bitcoin, Real estate, etc.).”

“The combination of the Fed’s asset price manipulation and inflation fears has driven gold and Bitcoin to drastically outperform equities and other commodities.”

Bitcoin rose by around 50 percent on a year-to-date timeframe. Pomp predicted a further upside for the cryptocurrency due to growing demand from the institutional investors.

For instance, Fidelity Investments, a Boston firm with $3.3 trillion worth of assets-under-management, favored a 1-5 percent allocation to Bitcoin in any portfolio.

Meanwhile, Stone Ridge, a $10 billion asset management firm, revealed that it now owns $15 million worth of BTC tokens.

Billionaire investor Paul Tudor Jones put 1-2 percent of his $22 billion portfolios into Bitcoin Futures.

Also, many pensions funds gained exposure in the cryptocurrency.

Pomp’s letter highlighted corporations that purchased Bitcoin as a reserve asset for part or majority of their treasury.

That included MicroStrategy, a $1.2 billion market cap firm that put 85 percent of its $500 million balance sheet ($425M) into Bitcoin, and global payments firm Square that last week purchased $50 million worth of BTC tokens.

“The demand outlook is strong, and it shows signs of actually accelerating into the first half of 2021,” added Mr. Pompliano.

The fund manager later discussed the Bitcoin market’s potential supply shock.

With a 21 million hard cap and 18.4 million units already in circulation, Mr. Pompliano noted that Bitcoin’s scarcity against its rising demand would act as another bullish tailwind.

In other trending Bitcoin News today:

Bitcoin pioneer Max Keiser went on a Crypto Twitter rant predicting a $28K short term Bitcoin target along with a $400K BTC price target for the long term…

“There is strong evidence to suggest Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000”

“The (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000”

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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:

There is strong evidence to suggest #Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000

— Max Keiser (@maxkeiser) October 16, 2020

The (temporary) #Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000

— Max Keiser (@maxkeiser) October 16, 2020

❓Why does #bitcoin price not go up with all this institutional buying? Who is selling? BTC price is exactly where it should be, holding firm above $10K, waiting for that one moment .. asymmetrical returns .. patience! pic.twitter.com/pCyftmvHco

— PlanB (@100trillionUSD) October 16, 2020

Bitcoin Will Likely Grow 15-20x in Next 15 Months: Fund Manager

https://cointelegraph.com/news/calm-before-the-storm-analyst-says-20k-bitcoin-possible-in-3-months

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Bitcoin price broke out from a tightening range to rally above $9,500 but will BTC hold above the crucial resistance level?

Perhaps the move is purely technical as Bitcoin has been compressing into a tighter range of higher lows and lower highs since early June, or possibly investor sentiment has been buoyed by the following massive breaking Bitcoin news today:

US Banking Regulator Greenlights Crypto Custody at Federally Chartered Banks

The Office of the Comptroller of the Currency (OCC) has given permission to allow federally chartered U.S. banks to provide clients with crypto custody services. 

This is a positive step forward as it removes some of the rigamarole involved in acquiring and storing cryptocurrency, meaning, crypto investors will eventually be able to hold their digital assets in the same bank where they keep their checking, savings, and brokerage accounts. 

The recent announcement from the European Union to kickstart another $857 billion euro round of stimulus and the expectation that the U.S. Federal Reserve will follow suit with a $1 to $2 trillion economic stimulus package could also be boosting investors’ belief that as long as the Fed is printing, equities will rise and Bitcoin will soon make another run at $10,000. 

This issue has seen much skepticism, given that crypto wallets do not resemble the custody requirements of other sorts of assets. Nonetheless, in its interpretive letter on the subject, the OCC wrote: 

“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers.”

In the words of the announcement, the new opinion “applies to national banks and federal savings associations of all sizes.”

The OCC’s letter further specifies that bank “custody” of crypto assets is dependent on their access to the keys to the crypto wallets rather than any sort of physical requirement — a confirmation of Andreas Antonopoulos’ famous line of “not your keys, not your coins.” the OCC specifies:

“That national banks may escrow encryption keys used in connection with digital certificates because a key escrow service is a functional equivalent to physical safekeeping.”

In regards to the new rounds of stimulus Gemini exchange co-founder and CEO Tyler Winklevoss suggested that: 

“The Fed continues to set the stage for Bitcoin’s bull run.”

Central bank printing continues to push the markets higher In traditional markets, silver started off the week with a strong pump which completed a nice cup and handle pattern on the daily timeframe, and at the time of writing the asset is up 19.25% for the week. 

Gold has also continued its upward trajectory by pushing to a new high at $1,874 today. To date, gold has gained 29% since the coronavirus-driven market correction occurred in mid-March.

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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:

Once there is attention, these illiquid altcoins then get a surge of buyersPushing the price up even more

You can see that with many defi alts $BAND caught on and ppl piled in, this week $ALEPH (both solid btw), next week will be be another

Always another trade to be made

— Josh Rager 📈 (@Josh_Rager) July 22, 2020

The altcoin chart set-ups that get the least engagement usually pump the hardestThat’s because most people arent in & that same mass of people won’t care unless you’re sharing about an asset they’re in

Until after that alt pumps – that tends to grab attention

— Josh Rager 📈 (@Josh_Rager) July 22, 2020

OK, there is the first lift in the BB Squeeze. Now we need to see follow through or we’ll be setup for real trouble, a Head Fake. $BTCUSD

— John Bollinger (@bbands) July 21, 2020

https://cointelegraph.com/news/us-banking-regulator-green-lights-crypto-custody-at-federally-chartered-banks

https://cointelegraph.com/news/bitcoin-price-rises-to-9-500-as-2-trillion-fed-stimulus-expected

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

Kraken Head of Business Dan Held explains why he believes the Bitcoin (BTC) price could reach $1,000,000.

Dan Held has been involved in crypto since 2013. In his latest interview with Cointelegraph, he dives into the early crypto meetups in San Francisco’s Mission District and explains how the price of one BTC could eventually reach a million dollars.

Bitcoin will become “very boring” Bitcoin is famous for its volatility, but Held thinks that won’t always be the case.

He believes Bitcoin to be digital gold. With that thesis comes the expectation that there will be immense growth in the asset’s market capitalization. 

“Bitcoin in its final stages decades from now will be something very boring. Like our grandkids will go, ‘Grandpa, Grandma, I only hear about Bitcoin. Everyone’s got Bitcoin.’ It’s like, who cares? Like it’s a boring investment. It’s like holding cash.”

Held predicts Bitcoin to hold from $5 trillion to $100 trillion dollars of value in its “final stages.”

This would result in a transformation from a highly volatile asset to a “very boring” currency. Held’s belief in Bitcoin is unshakeable.

He’s seen his net worth go up and drop 80% three times. And yet, 90% of his current net worth remains in Bitcoin.

His unwillingness to diversify his portfolio comes from a staunch belief that blockchain technology is only useful for Bitcoin.

“Satoshi purposely built blockchain tech to build Bitcoin. Blockchain tech sucks. It’s terrible. It makes so many tradeoffs to build Bitcoin that it is basically ineffective for almost anything else.”

Under this line of thought, which he calls “Bitcoin minimalism” to spite Vitalik Buterin, he doesn’t see a reason for altcoins to exist.

To Held, altcoins are just experiments that have yet to prove blockchain is useful for anything but Bitcoin.

In other trending Bitcoin News today:

Sparks Fly as Critics Question Bitcoin Model Predicting $100,000 by 2021

The Bitcoin Stock to Flow (S2F) model created by the pseudonymous analyst “PlanB” has been a controversial subject over the past year.

A majority of cryptocurrency investors on Twitter seemingly believe in the model, though it’s increasingly come under fire.

Debate about PlanB’s work has come to a head over the past few days as prominent commentators have chimed in.

The model predicts that after 2020’s block reward halving, BTC will rise to a market capitalization of $1 trillion.

That corresponds with approximately $55,000 per coin. It has since been updated with a new regression formula that suggests Bitcoin will reach $100,000 in 2020 or 2021.

PlanB’s updated iteration of the model has a high R squared value of ~95% and is purportedly “cointegrated” with BTC’s price.

Statistics lingo aside, the S2F model’s proponents say that this is a confirmation that the model has credence.

“Why are people dunking on the s2f model just a few difficulty adjustments past the halving? The prediction was that BTC will be $100k before the end of 2021. Declaring victory now is like declaring victory 5 minutes into the game.” – Jimmy Song

“So far, the arguments “debunking” S2F for BTC appear to be just random word-salads by attention seekers. S2F is a valid and vital analysis of Bitcoin price that provides excellent insight into the market.” – Max Keiser

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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:

In this interview I debunk these arguments:– “S2F is invalid because it doesn’t work for altcoins”

– “Scarcity doesn’t give something value. I own a pair of socks my grandma made of which only 1 pair exists in the world. How valuable does that make them?”https://t.co/YS1pQiVsBs

— PlanB 🔴 (@100trillionUSD) July 3, 2020

Why are people dunking on the s2f model just a few difficulty adjustments past the halving?The prediction was that BTC will be $100k before the end of 2021.

Declaring victory now is like declaring victory 5 minutes into the game.

— Jimmy Song (송재준) (@jimmysong) July 2, 2020

So far, the arguments “debunking” S2F for BTC appear to be just random word-salads by attention seekers.

S2F is a valid and vital analysis of #Bitcoin price that provides excellent insight into the market. https://t.co/diqJfThIg3

— Max Keiser (@maxkeiser) July 3, 2020

Sparks Fly as Critics Question Bitcoin Model Predicting $100,000 by 2021

https://cointelegraph.com/news/krakens-head-of-business-bitcoin-could-go-to-1-000-000