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MicroStrategy CEO Michael Saylor is telling investors that buying Bitcoin is better than putting their money into traditional assets like stocks, bonds and gold and also explains how Bitcoin is going to $10 million per BTC.
âIs it good for Bitcoin if JPMorgan, Goldman Sachs & BOA issue $10 trillion of USD stablecoins & start handling BTC & selling it to all their institutional investors? Yeah its good for BTC. Bitcoinâs going to $1 million per coin and then $10 million a coin.â
In other breaking Bitcoin News today: Miami will hand out free Bitcoin to residents from profits on city coin!
Every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend according to Mayor Francis Suarez.Â
âWeâre going to be the very first city in America to give Bitcoin yield as a dividend directly to its residents,â Suarez said in an interview on Nov. 11.
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BITCOIN COULD SURGE 1,000% AND REACH 0K IF NOVEMBER BREAKS MONTHLY ATH CLOSE SAYS JOSH RAGER!!
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Bitcoin could surge by up to 10x and reach $170,000 if BTC closes Novemberâs monthly candle at or above $13,880, based on historic performance, according to popular crypto analyst Josh Rager.
Bitcoin has been surging in value in the past month. The impressive performance led to several consecutive yearly records and reaching $16,000 last Friday â the highest BTC price displayed since early January 2018.
Although the cryptocurrency has retraced since its peak and currently trades at about $15,400, the analyst Josh Rager suggested that the asset could soon skyrocket even further.
Rager noted that âevery time Bitcoin has closed above the previous monthly all-time high â a 700% to 1,000% uptrend has followed.â
The first similar scenario highlighted in his graph above occurred in 2013. BTCâs January monthly close was around $20, which coincided with the previous monthly high.
Shortly after, the primary cryptocurrency spiked to about $150 â or a near 700% increase.
Somewhat identical events transpired on two more occasions in 2014 and during the parabolic price increase of 2017.
The latter is also the current benchmark as BTC closed in December at about $13,880.
With Bitcoinâs price hovering above that level now, Rager believes that âNovember could be the first monthly close that we see breaking the previous high.â
Should his prediction materialize, Bitcoin will find itself in a six-digit price territory.
The âmodestâ 700% increase will take BTC to $120,000, while the 1,000% surge will result in $170,000 per coin.
Another famous BTC analyst, Willy Woo, attributed Bitcoinâs latest price surge to smart money â high net worth individuals. He asserted that the average transaction value between investors had increased substantially in the past few months.
âWho has been buying this rally? Itâs smart money⊠High Net Worth Individuals.
You can see the average transaction value between investors taking a big jump upwards. OTC desks are seeing this too.
Bitcoin is still in its stealth phase of its bull run.â
In other trending Bitcoin News today:
âBillionaire Investor Stanley Druckenmiller Says He Owns Bitcoin, Believes Top Crypto Asset Has More Upside Potential Than Goldâ
Billionaire and famed money manager Stanley Druckenmiller says he has warmed up to Bitcoin and now owns the crypto asset.
Druckenmiller tells CNBCâs The Exchange that heâs predicting a steady decline in the value of the US dollar in the next few years as he expects inflation to rear its ugly head.
âWhen you look at the extraordinary measures taken by the Fed and the fact that theyâre monetizing the debt, I think itâs a high probability that we get inflation in the next five or six years, starting maybe in a year or two.
Particularly with the vaccine, now the economy could run very hot, at the same time all the stimulus is in the pipeline, at the same time we have challenged supply chains between the United States and China.â
Kelly Evans, the host of The Exchange, noted Druckenmillerâs interest in BTC when she introduced him.
The billionaire emphasizes that his interest in the cryptocurrency is only moderate compared to gold.
âWith regard to gold and Bitcoin, youâve kind of overstated in your introduction my enthusiasm for Bitcoin. I do own a tiny bit of it but I own a lot more gold. Gold is a 5,000-year brand as a go-to asset in terms of inflation.â
Druckenmiller, however, does note that Bitcoin could potentially have more upside than the precious metal.
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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.
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$BTCEvery time Bitcoin has closed above the previous monthly all-time high â a 700% to 1000% uptrend has followed
November could be the first monthly close that we see breaking the previous high and historically that’s been a very bullish sign for the crypto market pic.twitter.com/5SBTtE600U
â Josh Rager đ (@Josh_Rager) November 10, 2020
“I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value,” says legendary investor Stanley Druckenmiller to @KellyCNBC. His “dollar-decline basket” also features good ol’ gold.$BTC $RIO $FCX pic.twitter.com/2zuM8JqxaW
â The Exchange (@CNBCTheExchange) November 9, 2020
Who has been buying this rally? It’s smart money⊠High Net Worth Individuals. You can see the average transaction value between investors taking a big jump upwards. OTC desks are seeing this too.
Bitcoin is still in it’s stealth phase of its bull run. pic.twitter.com/3q41pmNVP9
â Willy Woo (@woonomic) November 9, 2020
The significance of the worlds greatest and most respected money manager â Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to investâŠ#Bitcoin
â Raoul Pal (@RaoulGMI) November 9, 2020
https://cointelegraph.com/news/18k-bitcoin-price-eh-btc-market-cap-may-pass-canada-s-monetary-base
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THIS ARAB WHALE IS BUYING $4.8 BILLION IN BITCOIN TO SETUP MIAMI 2.0 BLOCKCHAIN STRATEGY FOUNDATION!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
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, itâs the largest BTC investment of its kind in the world.
Khurram Shroff, the Chairman of Dubaiâs 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.Â
Mr. Shroffâs 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 Miamiâs vision to integrate Bitcoin in everyday transactions.Â
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.Â
âMaking 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,â 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. âEnabling 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,â said Shahal Khan, Burkhanâs CEO and Founder, âEconomical 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.â
Inspired by Miamiâs Mayor Francis Suarezâs commitment to blockchain, both IBC group and Burkhan are looking forward to being a part of Miamiâs strategic tech vision. In a recent interview, while talking about integrating bitcoin into certain government transactions, Mayor Suarez said, âCities like Miami, weâre trying to attract tech town. Itâs part of a larger play to position Miami as one of the most tech-forward cities in the country.â
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 companyâs 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.
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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
â Josh Olszewicz (@CarpeNoctom) February 25, 2021
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BLOOMBERG: BITCOIN PRICE ACTION REMINISCENT OF 2015 BEFORE HISTORIC 100X BTC BULL CYCLE BEGAN!!
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Bitcoin may be breaking free from its correlation with the stock market and gearing up for a parabolic 2021, according to a new Crypto report from Bloomberg.
The financial news outletâs latest monthly outlook on crypto calls BTC a âcaged bullâ that could be on the cusp of a massive long-term breakout.
âBitcoin 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 for the firstborn crypto and may be only a matter of time unless something we donât foresee trips up the trend of greater adoption and demand vs. constrained supply.
Favorable macroeconomics, akin to those buoying gold, supports the digital store-of-value, notably vs. the oversupplied broader crypto marketâŠ
Bitcoin may be in early days of ending its constraining relationship with the Nasdaq 100 Stock Index, in our view.
Technically, the Bitcoin-to-Nasdaq ratio near 1.2 on Oct. 27 has extended above 1.1 resistance that has held for about a year.â
According to the report, Bitcoinâs resistance at $10,000 may morph into resistance at $20,000 next year.
The report cites Bitcoinâs dwindling supply and ultimate cap of 21 million coins as a key driver placing the leading cryptocurrency on a positive trajectory.
It also names steady BTC buys from the institutional crypto asset manager Grayscale as a factor supporting Bitcoinâs price.
Bloomberg analyst Mike McGlone says Bitcoinâs 2020 price action is also reminiscent of 2015, ahead of a bull cycle that ultimately saw BTC rise by 100x.
â2020 Bitcoin may be 2015 launchpad deja-vu. Some key technical indicators portend a strong up-year for Bitcoin in 2021. In 2020, the benchmark crypto dipped below its 50- month moving average and 180-day volatility dropped below 40% at the start of November.
This price foundation pair was last matched in 2015 as Bitcoin bottomed near $200; it peaked about 100x higher in 2017. We see Bitcoin volatility declining with natural maturation and little chance of similar high-velocity appreciation, but the indication is clear: Unless something significant trips it up, the cryptoâs price is ripe to advance in the coming years.â
In other trending Bitcoin News today:
â3 Primary Reasons Why Ethereum (ETH) Could Hit $500 in Q4â
A confluence of bullish fundamental and technical indicators sees Ethereum rallying upward towards $500 in the fourth quarter.
The second-largest blockchain asset by market capitalization has rallied by more than 200 percent in 2020, with its price trading just shy of $490 in early September.
Nevertheless, its uptrend paused as traders migrated to Bitcoin, the flagship cryptocurrency that earlier gained entry into the investment/service portfolios of significant corporations (Square, MicroStrategy, PayPal, etc).
#1 ETH/BTC Support
A slowdown in Ethereumâs dollar-based uptrend finds headwinds in the ETH/BTC chart.
The pair, which pits Ethereum directly against Bitcoin, is trading lower since August 31.
As of Thursday, it was down by more than 32 percent from its YTD high of 0.0406 sats.
#2 Ethereum Ascending Triangle
Ethereumâs correction from its YTD high followed by a subsequent pullback to the upside left its price in a consolidation channel.
That range, with a fixed horizontal resistance line and a trail of higher lows, made an Ascending Triangle pattern.
#3 Fundamentals
The reason why Ethereum could perform per its bullish technical expectations is a solid fundamental catalyst.
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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:
#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
â Mike McGlone (@mikemcglone11) November 4, 2020
https://assets.bbhub.io/promo/sites/12/917428_Crypto-Nov2020Outlook.pdf?link=button-header
https://cointelegraph.com/news/bitcoin-hits-14-7k-3-reasons-this-rally-may-see-new-all-time-highs
Post Views: 315