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Real Vision CEO and macro investor Raoul Pal is predicting that Bitcoin could more than triple in value from the current price, while Ethereum could nearly quadruple.
“This is not a certainty. It is a probabilistic outcome. For me, $20k ETH and $200k BTC is a shoe in (70% + chance)”
Pal says that currently, Bitcoin is replicating the price behavior it displayed in 2013: “BTC continues to follow 2013 very well.”
The Real Vision founder also says that there’s a “decent chance” that the current Bitcoin bull cycle could play out for a longer period than previous ones resulting in a Bitcoin price closer to $400K with an Ethereum price of $40,000.
In other trending Bitcoin News today: Analyst Suggests Bitcoin’s Bottom Could Be $50K Assuming BTC Surpasses $200K This Cycle!
“If we apply that same area to the current rant, we get an end-of-cycle target for Bitcoin between $207,000 and $270,000,” the analyst adds. Following the end cycle outlook, Bennett details that the last three bear markets that followed the bull cycles have “produced corrections of 94%, 87%, and 84% respectively.”
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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://cryptopotato.com/weekend-status-quo-bitcoin-stable-amid-60k-eth-maintains-4k-market-watch/
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THIS ARAB WHALE IS BUYING $4.8 BILLION IN BITCOIN TO SETUP MIAMI 2.0 BLOCKCHAIN STRATEGY FOUNDATION!!
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A Dubai businessman is pledging to buy 100,000 Bitcoin worth up to $4.8 billion as part of a new company strategy. To put that into perspective, it’s the largest BTC investment of its kind in the world.
Khurram Shroff, the Chairman of Dubai’s IBC Group, a noted Arab Whale, and the poster child of Blockchain technology in the Middle East and Asia, has pledged 100,000 Bitcoin (current value of USD $4.8 Billion) to setup the Miami 2.0 Blockchain Strategy Foundation and many other related Joint Venture Projects.
Mr. Shroff’s backing of Miami 2.0 Blockchain Strategy could turbo-charge use of the cryptocurrency, which is estimated to transact USD $200 Billion per day, by the end of 2021.
The pledge by IBC group, the largest in Bitcoin history, will be significant in facilitating the digital-currencies adoption across multiple industries and critical in aiding Miami’s vision to integrate Bitcoin in everyday transactions.
An avid supporter of Ethereum 2.0, Khurram Shroff was instrumental in its beacon chain reaching the required threshold for its launch in November 2020. As of the date of this article, the beacon chain has more than USD $5 Billion worth of Ether staked to secure the Ethereum Proof of Stake (ETH2.0) to enable decentralized finance, including DeFI and DaPPs.
IBC Group was recently approached by landmark U.S based real-estate developer Burkhan World Investment LLC, to increase the adoption of the blockchain technology in Real Estate and to enable efficiencies in government and private sectors.
“Making the largest Bitcoin investment in history is proof of our commitment to assisting cities adopt Blockchain, which we see as the key to enabling widespread adoption,” reiterated Khurram Shroff.
Burkhan currently has over US$1 billion worth of Real Estate projects in Miami in its pipeline that are being empowered with technological innovation. “Enabling investment into Real Estate utilizing Bitcoin as a collateral asset will further enhance its use case as a tool to create a hybrid investment vehicle for BTC holders,” said Shahal Khan, Burkhan’s CEO and Founder, “Economical debt coupled with a favorable hedge for BTC holders in stable long-term assets such as Real Estate, are a double win for digital currency holders as well as developers and property owners.”
Inspired by Miami’s Mayor Francis Suarez’s commitment to blockchain, both IBC group and Burkhan are looking forward to being a part of Miami’s strategic tech vision. In a recent interview, while talking about integrating bitcoin into certain government transactions, Mayor Suarez said, “Cities like Miami, we’re trying to attract tech town. It’s part of a larger play to position Miami as one of the most tech-forward cities in the country.”
In other breaking Bitcoin News today:
MicroStrategy Purchases Another $1 Billion Worth of Bitcoin
Business intelligence firm MicroStrategy increased its Bitcoin (BTC) holdings by 27% on Wednesday after purchasing an additional 19,452 coins, taking its total haul to 90,531 BTC.
Announced on the company’s website on Wednesday, the coins were reportedly purchased for approximately $52,765 per coin, equating to an outlay of just over $1 billion.
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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://twitter.com/Bloqport/status/1363207832221462534
$BTCif 4h breaks down, be prepared for some uber bearish calls to start popping up on CTAB=CD & 1.618 fib both at 36.7k
meanwhile, i’ll be bidding the daily Kijun at 42k pic.twitter.com/xu7DCYCFk4
— Josh Olszewicz (@CarpeNoctom) February 25, 2021
Post Views: 362 -
K BITCOIN PRICE VERTICAL ASCENT IN COMING MONTHS WILL IGNITE MANIC PHASE TO CATAPULT BTC TO 5K
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A cryptocurrency trader who accurately predicted last year’s Bitcoin crash has updated his BTC price roadmap.
The pseudonymous crypto strategist known as ‘Dave the Wave’ says Bitcoin has already resolved the large symmetrical triangle that has kept the market bearish for over two years.
He now expects the Bitcoin price to launch a vertical ascent to $24,000 in the coming months.
Based on Dave’s chart, Bitcoin will likely continue trading inside another triangle until the second quarter of 2021.
The breakout from this pattern could ignite a manic phase that would catapult BTC to $115,000.
He also says one altcoin that was hammered during the brutal bear market has massive upside potential.
Dave the Wave tells his 34,000 Twitter followers that South Korean blockchain interoperability protocol ICON (ICX) may be gearing up for a parabolic breakout after languishing in bear territory for over two years.
During that period, ICX wiped out 99% of its value as the coin nosedived from its all-time high of $12.64 to a bear market low of $0.106937, according to CoinMarketCap.
According to Dave, the huge devaluation puts ICX in a position to surge to $102.56 and post astronomical gains of 22,947% in the next bull cycle.
In other trending Bitcoin News today:
MicroStrategy Purchases $250,000,000 in Bitcoin, Says Top Crypto Can Maximize Long-Term Value for Shareholders
MicroStrategy has adopted Bitcoin (BTC) as its reserve currency — and stunned commentators by purchasing over 21,000 BTC on Aug. 11.
The world’s largest publicly-traded business intelligence company has swapped fiat for Bitcoin as its treasury reserve asset, but the reasons behind it suggest that more big businesses will have no choice but to do the same.
Why did MicroStrategy choose Bitcoin, and will others follow?
In a press release issued on Aug. 11, CEO Michael Saylor went further than most by calling Bitcoin “digital gold.” With no “ifs” or “buts,” Saylor unreservedly plugged the largest cryptocurrency over both fiat and other traditional safe-haven assets such as gold.
“Bitcoin is digital gold – harder, stronger, faster, and smarter than any money that has preceded it,” he commented.
That angle closely mimics some of Bitcoin’s foremost proponents, notably Saifedean Ammous, who in his book, “The Bitcoin Standard,” repeatedly explains that so-called “digital scarcity” puts Bitcoin in a separate league to any other form of money which has ever existed.
Like Ammous, Saylor also believes that Bitcoin’s very structure will ensure that its value will only increase with time.
He added: “We expect its value to accrete with advances in technology, expanding adoption, and the network effect that has fueled the rise of so many category killers in the modern era.”
Bitcoiners were particularly excited about MicroStrategy because it unashamedly replaced fiat currency for cryptocurrency.
Its purchase of 21,454 BTC for an aggregate price of $250 million late last month may not only be symbolic (given the total 21M BTC) but it also means that the company controls 0.1% of the total Bitcoin supply — something competitors will find increasingly expensive to replicate.
“MicroStrategy bought 0.1% of the Bitcoin supply. Very few companies will be able to copy this strategy,” What Bitcoin Did podcast host Peter McCormack tweeted in response.
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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/3-reasons-why-microstrategy-adopted-bitcoin-and-why-others-will-too
Post Views: 369 -
TWITTER CEO: BITCOIN IS STILL THE MOST VIABLE INTERNET-NATIVE CURRENCY!! BTC PRICE PREDICTION!!
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The world of Bitcoin and Cryptocurrency moves at a whirlwind pace but the Twitter / Square CEO Jack Dorsey remains committed to BTC.
In an interview with Reuters on Sept. 10, Dorsey, who also founded the mobile-payment platform Square, said he believes Bitcoin’s potential still outshines later developments:
“I think the internet warrants a […] native currency and […] Bitcoin is probably the best manifestation of that thus far. I can’t see that changing given all the people who want the same thing and build it for that potential.”
Dorsey connected BTC’s founding principles with the cooperative and decentralized ethos that he considers to be the driving spirit behind the web:
“The internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.”
Dorsey lauded the fact that “anyone with a great idea” who wants to be part of Bitcoin can join the community — they “don’t have to be part of a company,” he said.
Dorsey appeared committed to both Bitcoin and the internet in an idealized form — free from the specters of oligopoly, the excesses of corporate and government surveillance, and the stubborn asymmetries of power and capital that the advocates of decentralization must necessarily wrestle with.
Consistent with this belief in the possibility for grassroots control over the cryptocurrency’s — and the internet’s — future direction, Dorsey told reporters that it’s important to focus on improving users’ experience of Bitcoin in order to foster its widespread adoption.
In other trending Bitcoin News today:
Bitcoin Price Prediction: BTC Crucial Liftoff to $12,200 – Discovering On-Chain Metrics
The flagship cryptocurrency is currently stuck in consolidation.
The sluggish price movement comes after recovery from the recent dips under $10,000.
On the upside, BTC is limited under $10,400.
Meanwhile, the Bollinger Band highlights that ongoing consolidation is nearing an end.
As the Bollinger Bands squeeze, volatility continues to build.
Therefore, BTC could be heading into a period of high volatility and drastic price movement, but in which direction would be the breakout?
According to Timothy Peterson, CAIA manager at Cane Island Alternative Advisors, every time Bitcoin’s “30-day return hits this lower threshold (we are very close now), it is usually followed by 30-day gains of 20 – 40%.”
In other trending Crypto News today:
CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin
According to popular Bitcoin bull Anthony Pompliano, he just convinced “Jim Cramer to buy Bitcoin.”
The details of the interview are not out yet, but Pompliano remarked in his replies that the financial analyst and investor “understands the benefit of Bitcoin better than most.”
“Just convinced Jim Cramer to buy Bitcoin. Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner”
Cramer’s comments come a year after he was openly hesitant to buy Bitcoin. Responding to a follower that asked if he thinks it’s logical to have 60% of his wealth in stocks and 40% in BTC, Cramer wrote:
“Mad Money into bitcoin? Hmmm.. not top of mind. but then again, it is YOUR mad money so you must do what you think is right.”
These comments, though, also come after he stated that Bitcoin could reach $1 million in 2017.
He purportedly said on Squawk on the Street,” another CNBC show, that the cryptocurrency had room to rally exponentially to the upside because of its decentralized nature.
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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:
Just convinced @jimcramer to buy Bitcoin.
Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner 🔥
— Pomp 🌪 (@APompliano) September 10, 2020
CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin
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