MICHAEL SAYLOR SAYS BITCOIN WILL SKYROCKET 300X IN THE LONG RUN HITTING $14 MILLION PER BTC!!!!!

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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

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Bitcoin bull and Morgan Creek Digital Assets co-founder Anthony Pompliano is mapping out why he believes BTC could reach $225,000 in just over a year.

In his latest letter to investors, Pompliano unveils the macro factors that may serve as tailwinds for the next Bitcoin bull market.

“The Federal Reserve has cut interest rates to 0%. They plan to keep us in a zero-rate environment for the foreseeable future. Multiple stimulus packages in 2020 now total more than $3 trillion in QE. We have another $2 trillion on the way…

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

The Bitcoin advocate also highlights that Wall Street has “woken up to the Bitcoin trade,” which Pompliano says has increased demand for BTC.

“We are also seeing a new trend emerge where corporations are using Bitcoin as a reserve asset for part or majority of their treasury. It started with publicly traded digital asset focused firms like Galaxy Digital and others.

Then we saw MicroStrategy ($1.2B+ market cap on NASDAQ) put 85% of their $500M balance sheet ($425M) into Bitcoin. And most recently, financial technology company Square announced that it had purchased about $50M of Bitcoin for their balance sheet (approximately 1% of assets).”

As the demand outlook for BTC remains strong, says Pompliano, he shifts his focus to the supply side of the equation.

He refers to the most recent Bitcoin halving, which reduced the number of new BTC entering circulation from 1,800 to 900 per day.

“Historically, these supply shocks have led to significant price increases of 20X+ in the following 18 months post-halving.”

In addition to the increasing demand and decreasing BTC supply, Pompliano highlights a key factor that he says solidifies the bullish argument for Bitcoin – the fact that more than 60% of all mined BTC has not switched hands in more than a year.

Pompliano says this shows investors are refusing to sell despite several major moves to the downside in 2020.

With his investment thesis in place, Pompliano predicts that Bitcoin could touch $225,000 by the end of 2021. 

“Many investors will look at the historical price increase of the digital asset and believe they ‘missed it.’ That couldn’t be further from the truth in my opinion. I believe we are at the start of another boom cycle in Bitcoin, which is likely to drive us 10-20x higher in the 15-month window.”

In other trending Bitcoin News today:

‘Still So Early’ – 7% Of Americans Have Bought Bitcoin, Study Finds

According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC).

This means current investors in BTC are still in an early stage of growth. Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the “birth” phase of a new asset class. He wrote:

“It’s still so early for Bitcoin. Still at the birth of a new global asset class.”

In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold.

If so, investors anticipate its valuation to increase exponentially over the next decade.

Currently, the majority of the demand for Bitcoin comes from investors that perceive BTC as gold 2.0. Investors believe BTC would eventually establish itself as a safe-haven asset.

Consequently, institutional investors have heavily accumulated BTC in recent months.

MicroStrategy and Stone Ridge, for instance, purchased $425 million and $110 million worth of Bitcoin, respectively.

But if the retail demand for Bitcoin picks up in tandem across major regions, it could cause BTC to grow exponentially.

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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:

Anthony Pompliano Announces He Has 80% of His Capital in Bitcoin

https://pomp.substack.com/p/the-investment-case-for-bitcoin

https://cointelegraph.com/news/still-so-early-7-of-americans-have-bought-bitcoin-study-finds

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Who Is Satoshi Nakamoto? Rounding Up The Usual Suspects After Today’s 50 Bitcoin Transaction

BTC sustained a strong 7% drop ($9,800 to $9,100) on Wednesday after trading in a holding pattern around $9,800 for multiple days in succession.

The leading crypto’s drop coincided with news that one of the first few thousand Bitcoin addresses just made its first transaction.

The address involved is from February 2009 — and the 50 coins that were sent from the address were obtained by mining one BTC block.

Due to how close the address’ “birthday” was to the launch of the Bitcoin network, many were quick to speculate that this transaction was “Satoshi dumping his coins.”

As the pseudonymous cryptocurrency creator owns over a million coins, the aforementioned drop ensued.

While the theory has since been disproven, a prominent cryptocurrency and blockchain investor says that the pretense of Bitcoin’s drop exposes holes in the investment case for most altcoins, especially Ethereum.

When Bitcoin dropped on Wednesday, so did the rest of the cryptocurrency market. Ethereum, XRP, and the rest of the usual suspects posted losses identical to the market leader.

Chief investment officer of crypto fund Arca, Jeff Dorman, postulated in the wake of the drop that the fact “that all large-cap tokens fell too” indicates “most digital assets are not necessary to own.

Dorman added that it was “particularly damaging for ETH today.” Adding to the fundamental blow that Wednesday’s Satoshi drop caused, Ethereum is showing technical signs it wants to retrace.

As reported by Bitcoinist previously, a leading market commentator remarked that the number of ETH that exchanges hold is “basically at all-time highs.”

The metric hit 18 million coins, according to data from Bitcoin analytics firm Glassnode.

The commentator postulated that this trend may be bearish, likely referencing a growing number of Ethereum deposits indicates an increased propensity by investors to sell the asset.

The bearish on-chain case is backed up by technical trends. As shared by a leading Bitcoin trader, Ethereum recently lost a key support level that held on four separate occasions over the past month.

The loss of this support purportedly increases the chances the asset sustains a “larger 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:

50 BTC from Feb 2009 is moving.That’s just one month after first bitcoin block was mined. There is not a lot of people who can do this, perhaps close associates of Satoshi.

My question is why, not who, is sending 50 BTC for the first time in more than 10 years.

— Joseph Young (@iamjosephyoung) May 20, 2020

👤👤👤 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown walletℹ️ The coins in this transaction were mined in the first month of Bitcoin’s existence.

Tx: https://t.co/hxDJGGtfF0

— Whale Alert (@whale_alert) May 20, 2020

$BTC just fell 3% because of the equivalent of a 13F filing which shows a big investor is selling (regardless of whether or not the info is accurate, that’s why it fell).

This is the definition of an isolated and idiosyncratic event that should have ONLY affected #Bitcoin

— Jeff Dorman, CFA (@jdorman81) May 20, 2020

7% Bitcoin Drop on Satoshi Fears Shows Why Ethereum Is Dangerous to Own