MAX KEISER SAYS, BITCOIN TIPPED TO HIT $220K AS CHINA SHUTDOWN SEES MINERS AIRLIFT EN MASSE TO USA!!

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Financial and investment advisory giant The Motley Fool has announced it will invest $5 million into Bitcoin (BTC) with the expectation that it will rise to $500,000.

Announced earlier today via a blog and Twitter post, the firm stated it won’t be “buying overpriced ETFs” but will be “buying Bitcoin directly.” Currently ranked fifth globally in the investing category, according to SimilarWeb, and with 87 million website visits per month, The Motley Fool outlined three core reasons behind the purchase: Bitcoin is a better store of value than gold, it’s an effective hedge against inflation and it has the potential to become a transactional asset.

The firm will be investing in Bitcoin through its 10X real-money portfolio as one of 40 assets that it predicts will provide a 1,000% return over the next 15 years. The firm has recommended the digital asset as a core holding to all its 10X members and has provided time for them to purchase BTC before The Motley Fool initiates its own purchase. It added that in the coming weeks the company “will also be separately buying $5 million in Bitcoin on our own balance sheet.”

Due to the long-term commitment, the announcement explains that volatility is of little concern.

“While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today’s levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years.”

Should the company’s prediction prove true, it will see Bitcoin passing $500,000 within the next 15 years. The Motley Fool says it has a solid track record with its investments.

The Motley Fool has so far named 10 of the 40 investment picks for the 10X portfolio, with the others being cloud computing company Appian Corporation, Swiss biotech firm CRISPR Therapeutics, cybersecurity firm CrowdStrike, e-commerce platform Etsy, genetic testing platform Fulgent, insurer Lemondate, social media platform Pinterest, mobile gaming platform Skillz and video communication firm Zoom. It is worth noting that many of these stocks have already been recommended in the firm’s other, more basic investment services.

The advisory firm has been aware of cryptocurrencies for years now, with a 2017 analysis suggesting that Bitcoin’s biggest competitor was not Ethereum but Litecoin.

In other trending Bitcoin News today:

‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level

Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000.

According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other.

Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February.

“The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch up and indicators to reset,” they wrote in a tweet on Feb. 17.

“Looks like $48k is the new $35k now.”

The buoyant perspective adds fuel to the bulls hoping that $50,000, a level Bitcoin took for the first time this week, will form a solid foundation without a major correction.

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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:

We’ve got BIG NEWS! We’re buying $5 million in Bitcoin on our own balance sheet.

That’s right. $5 million.

— The Motley Fool (@themotleyfool) February 17, 2021

I’m raising my short term #BTC price target from $65K to $77K based on growing supply-shock issues – as coins are removed from exchanges

My 2021 target of $220,000 remains pic.twitter.com/y1SKIYQW53

— Max Keiser (@maxkeiser) February 17, 2021

$250k by end of 2022. Just 5X from here. Looking a lot more likely than when I made the initial prediction three years ago, eh? #Bitcoin

— Tim Draper (@TimDraper) February 17, 2021

https://cointelegraph.com/news/motley-fool-adding-5m-in-bitcoin-to-its-10x-portfolio-has-a-500k-price-target

https://cointelegraph.com/news/ethereum-hits-new-all-time-high-near-2k-as-analyst-says-2021-bull-run-is-different

https://cointelegraph.com/news/insane-bitcoin-price-consolidation-means-48k-is-the-new-btc-support-level

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BITCOIN RETAKES CRUCIAL KEY LEVEL THAT CATALYZED

4,000% RALLY According to a crypto trader, Bitcoin’s strong rebound in April saw the BTC price close its monthly candle above a key level of the Ichimoku Cloud on the one-month chart.

This is relevant for BTC because the last time Bitcoin claimed this technical level was in early 2016, when the Bitcoin price was trading around $500 and prior to the 4,000% rally that brought the cryptocurrency to $20,000 just 20 months later.

This historical precedent suggests that the crypto market is on the verge of its next parabolic rally.

This is the latest of many historically-relevant signs that Bitcoin is soon going to erupt into a full-blown bull run.

Bitcoin’s trend earlier this week was so strong that amid the peak of Wednesday’s rally a trader observed an unexpected technical occurrence:

The relative strength index (RSI) reading of Bitcoin’s one-hour chart hit 96.5 — just a few points shy of the top of the oscillator, 100.

Traditional forms of technical analysis state that whenever the RSI passes the level of 70, it is overbought over the time frame that is being analyzed.

The fact that Bitcoin’s one-hour RSI briefly hit 96.5 means that it was extremely overbought, almost to the point of lunacy.

According to a crypto trader, the last time this metric was this high for BTC was in April 2019, on the day that the cryptocurrency rocketed 25% higher within the span of a few hours.

What followed this move was an extended rally from the $4,000s to $14,000 within three months.

Similarly, a trader shared the chart in the wake of Bitcoin’s recent strength, noting that the rising wedge that had constrained Bitcoin’s price for the past six weeks has been decimated, with clear invalidation to the upside.

What’s especially notable about this formation of BTC breaking above a rising wedge after a bear market, this is the exact same market structure that marked the start of 2019’s bull run, which brought prices from the $4,000s to $14,000 in three months’ time.

In other trending Bitcoin News today:

Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches

A prediction that Bitcoin (BTC) is about to begin a fourth parabolic phase that will bring the leading cryptocurrency to more than a quarter-million dollars is lighting up the cryptoverse.

A post revealing the new forecast from price analyst PlanB shot across crypto Twitter this week, with more than 4,200 likes.

But the forecast itself has reignited the great debate on the relationship between Bitcoin’s halving – which will slash the rate of new BTC entering the market in a matter of days – and the price of BTC.

According to PlanB, who recently told Morgan Creek Digital co-founder Anthony Pompliano that he’s a member of an institutional investment team that manages roughly $100 billion in assets, his latest stock-to-flow model shows BTC rising to $288,000 by the end of 2024.

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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:

Daily Ichimoku will very likely confirm fully bullish on todays close, as well as 2D Kumo Breakout with a bullish Kumo Twist

I cannot not be bullish on Q2. I want to buy dips. pic.twitter.com/1OUDSintY9

— Smokey (@TraderSmokey) May 1, 2020

Bitcoin Supercycle Theory Ignites Crypto Twitter As BTC Halving Approaches

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Compared to the Bitcoin price analysis of the previous two weeks, this weekend has been relatively relaxed for Cryptocurrency traders.

On Saturday the BTC price came within $10 of $10,000 before pulling back to $9,794.

Despite the inability to hold above $9,900, the shorter timeframe also shows Bitcoin (BTC) price painting higher lows since the drop on Feb. 19 to $9,352 and the price is also holding well above the 20-MA of the Bollinger Bands indicator.

A high volume surge could easily push the price to the upper Bollinger band arm at $10,126 but Bitcoin would still have some challenges ahead.

If Bitcoin can hold the $9,850 support and push above $9,883, we could see the price rise to $10,200 as it is currently sandwiched between VPVR nodes at $10,210 and $9,892.

In an earlier analysis, Cointelegraph contributor Keith Waring explained that $10,000 is a less important level to attain when considering that a significant resistance at $10,300 awaits.

Waring also notes that even though Bitcoin’s current setup strengthens the probability of the price retaking the $10K mark, the CME close at $9,740 on Feb. 21 means traders believing in the CME gap narrative will hold their powder with the expectation of the price revisiting the gap.

Meanwhile, crypto analyst Micheal Van De Poppe has taken a more bullish point of view, tweeting the above chart and saying:

“Retest done. As long as this level remains support, I’m expecting continuation towards $11,000 / $11,600.”

WHY BITCOIN MAY NOT SKYROCKET IMMEDIATELY AFTER HALVING

To form a Bitcoin price prediction analysts generally look at previous market patterns and events.

The two BTC halvings that have already occurred may offer some indication as to what will happen after the next one, and there might not be the big pump that is expected.

With less than 78 days to go to the halving, the debate is raging on as to whether prices are already factored in or not.

Opinion is pretty evenly divided between those that believe prices are not factored in and there will be a pump, and those that think the opposite will occur.

Binance boss Changpeng Zhao appears to be leaning towards the latter group with a recent post depicting charts that show flat markets following previous halvings.

“History may not predict the future, and correlation does not prove causation… Watch what happens AFTER halving. Markets are inefficient, at least, historically.”

Markets did indeed remain flat for several months following the first halving in 2012.

Only in 2013 did they start to run with an epic gain of around 8000% from $13 to over $900.

A bear market followed in 2014 then momentum started to build the following year in the lead up to the 2016 halving.

Following that one there was very little activity until 2017 when momentum started building again and bitcoin surged from around $1,000 to over $20,000.

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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:

History may not predict the future, and correlation does not prove causation.

Here are just 2 charts around the previous #bitcoin halving. Watch what happens AFTER halving. Markets are inefficient, at least, historically.

Just data, draw your own conclusions. pic.twitter.com/AwChmAGvrK

— CZ Binance 🔶🔶🔶 (@cz_binance) February 23, 2020

https://www.tradingview.com/chart/BTCUSD/rpbLc78K-Bitcoin-ready-for-retest-of-9-400-before-move-towards-11-000/

https://bitcoinist.com/why-bitcoin-may-not-skyrocket-immediately-after-halving/

https://cointelegraph.com/news/bitcoin-price-rebounds-but-cme-gap-103k-remain-big-obstacles