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Popular on-chain analyst Willy Woo says that Bitcoin is poised to hit the six-digit price range once its retracement is over.
According to Woo, his top model is flashing a new price target for Bitcoin at $157,000. However, he predicts that once Bitcoin resumes its bull trend, he expects the model to hike up the price target.
“If we squeeze out of this accumulation band like I’m expecting, I would say that we will start curving upwards into the $250,000 to $350,000 range. Sounds a bit ludicrous right now, but that’s what the model says.”
In other trending Bitcoin News today: 10X User Growth in Sight by 2022 for Emerging Crypto Sector, Says Venture Capital Head!
Successful crypto-focused venture capitalist Arthur Cheong is making some bullish predictions for Ethereum and the decentralized finance (DeFi) sector for the rest of 2021.
He predicts that by the end of the year, the number of DeFi users could multiply between five and 10 times, pending scaling solutions.
“I’m looking forward to this crossing 5 million and 10 million probably by the end of the year. I think it’s possible if we have a very successful scalin
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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 Showing Signs of Potential Bounce: Crypto Analytics Firm Santiment
https://cointelegraph.com/news/brazilian-securities-regulator-approves-ether-etf
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0,000 BITCOIN PRICE IS INEVITABLE THANKS TO A CRITICAL MASS OF LONG TERM BTC HODL’ers!!
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Determining the true Bitcoin value can be more complicated than simply looking at the current BTC market price.
“Most Bitcoins already cost at least $100,000, but probably more like $10 million,” said Michael Goldstein, also known as Bitstein, in an Aug. 17 tweet.
While the Bitcoin price sits around $12,000 at this time, many folks in the crypto industry likely value the asset at a much higher price tag.
If someone buys a BTC at $10,000, but is unwilling to sell it until the asset reaches $100,000, then the price tag of that Bitcoin is naturally much higher than its current market value.
This then begs the question: How many Bitcoin are currently worth $100,000?
At the start of the year, 64% of Bitcoin’s circulating supply had remained in the same wallets since 2018, which seems to suggest that most BTC has a higher valuation than current market prices indicate.
According to Goldstein, many of Bitcoin’s largest bag holders value the asset between $100,000 and $10 million.
These numbers sit in line with a bevy of price predictions from various authorities over the years.
On March 5, 2020, Bitcoiner Max Keiser predicted Bitcoin shooting up to $100,000 in 2020 as fueled by COVID-19 repercussions.
Other notable names across the industry also predicted prices above $100,000 for Bitcoin at some point, including Morgan Creek Digital co-founder Anthony Pompliano, BTC stock-to-flow model creator PlanB, and cryptographer Adam Back, among others.
In other trending Bitcoin News today:
Million-Dollar Bitcoin Whale Says Traders Should Track Two Altcoins in Addition to BTC
An outspoken Bitcoin whale who rarely shows affection for anything other than BTC says two crypto assets have potential.
The pseudonymous trader known as Joe007 says UNUS SED LEO (LEO) may be a solid pick for investors looking to diversify their crypto portfolio.
“In a sane world, extremely low correlation by LEO would make it a desirable diversification instrument when it comes to constructing crypto portfolios. But of course, crypto traders are too busy chasing the latest shitcoin-du-jour pump to even take a notice.”
LEO is an ERC20 utility token that operates on the Ethereum and EOS blockchains.
LEO holders enjoy multiple benefits on the crypto exchange Bitfinex including taker fee reduction, lending fee reduction, and discounts on crypto and fiat deposits and withdrawals.
Joe, who is known for placing large bets on the crypto exchange Bitfinex, says another coin on his list is Binance Coin (BNB).
The trader says the token offers a use case that sets it apart from other crypto assets.
Binance Coin is a utility token issued by crypto exchange Binance. BNB holders get discounts when using the coin to pay for trading fees on Binance and Binance DEX.
Holders can also use BNB to pay for goods and services to select merchants.
Because demand for both BNB and LEO is driven in part by the performance of their respective crypto exchanges, Joe says they have an additional potential use case aside from simply being a digital form of money.
“I wouldn’t consider LEO or BNB shitcoins, actually – as they are not trying to be money (‘coins’) in the first place. If anything, they are equity-like centralized crypto assets.”
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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:
It’s an interesting thought experiment. What is the closest price it would take for you to sell all your bitcoins right now, on the condition you could never own any ever again?
— Senuto Cryon (@senutocryon) August 18, 2020
Most bitcoins already cost at least $100k, but probably more like $10 million.
— Michael Goldstein (@bitstein) August 18, 2020
ICYMI: #bitcoin is nicely moving away from 200 week moving average. 200WMA is currently $6400, is increasing $200 per month, and has never decreased. Best of all, BTC monthly close has never been below 200WMA. pic.twitter.com/c21W1kVDiv
— PlanB 🔴 🔴 🔴 (@100trillionUSD) August 19, 2020
https://cointelegraph.com/news/98-of-all-bitcoin-is-now-worth-more-than-when-you-bought-it
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Bitcoin Price to Hit K or K Next? Crypto Traders Discuss Macro Signs | India Plans BTC Ban
➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net
The Bitcoin price is still struggling to break out above $10,000 following three failed attempts over a 36-day period.
Traders remain mixed on the short-term BTC price trend as macro indicators suggest varying trends.
Many traders believe the price of Bitcoin is primed for a rally above the multiyear resistance level of $10,500, which would confirm the end to a two-year price cycle and the start to a newfound rally.
Others foresee the price of Bitcoin falling all the way to the $6,000–$7,000 range in the near term, given the three consecutive rejections of the same range in between $10,000 and $10,500 spanning over a month.
Historical data shows that declining volatility and volume suggest a large Bitcoin price movement will likely occur in the near term.
For instance, the price of Bitcoin in early September 2019 was hovering around $10,500 to $10,800.
At the time, the volume of both futures and spot markets declined substantially compared with the previous two weeks.
By the end of October, after a month of consolidation, the price of Bitcoin dropped from $10,800 to $7,300, recording a 32% pullback within two months after weeks of low volatility.
The bullish scenario for Bitcoin in the short term Traders generally anticipate a Bitcoin upsurge in the near term due to three main reasons: a compelling technical structure, an increase in the number of long-term holders and a rapidly growing hash rate.
According to Michael van de Poppe, a full-time Amsterdam Stock Exchange trader, the short-term trend of Bitcoin is optimistic as long as the price remains above $9,100.
The $9,100–$9,300 range has served as a strong support area for Bitcoin since May.
If the price holds $9,100 and breaks above $10,500 once again, van de Poppe emphasized that $12,000 is likely next.
He said: “If we break $10,000, next level is $10,500. If we break $10,500, next level is $11,500-12,000. Crucial level to hold; $9,100-9,300.”
Similarly, cryptocurrency trader Nunya Bizniz said earlier this month that the following levels are the most important for BTC to see a prolonged rally:
* $10,000: a resistance and psychological barrier;
* $10,500: first higher high, change to market structure;
* $11,600: last three cycles, a monthly close is above a key technical level at 50% Fibonacci retracement; and
* $14,000: a close above a monthly all-time high indicates an attempt at BTC’s record high.
In other trending Bitcoin News today:
INDIA PLANS BITCOIN BAN EVEN AS ITS BANKING SYSTEM GRADUALLY COLLAPSES
The Indian government may ban Bitcoin. According to a report by Economic Times, the country’s finance ministry has sent the proposal for inter-ministerial consultation.
The department then expects to forward the plan to its top cabinet, which operates directly under Prime Minister Narendra Modi. The move further allows the motion to be tabled as a bill in the parliament.
“While we have recognized… the power of Reserve Bank of India to take preemptive action, we are testing in this part of the order the proportionality of such measure, for the determination of which RBI needs to show at least some semblance of any damage suffered by its regulated entities. But there is none.”
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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:
$BTC #BITCOINSlight wick now, which is fine.If we break $10,000, next level is $10,500.If we break $10,500, next level is $11,500-12,000.Crucial level to hold; $9,100-9,300.
Check it here:https://t.co/nCn6H1LjY5 pic.twitter.com/TxxsVk0GrB
— Crypto Michaël (@CryptoMichNL) June 10, 2020
BTC overhead stepping stones:1. $10K – Resistance & psychological barrier2. $10.5K – 1st higher high, changes market structure.3. $11.6K – Last 3 cycles, a monthly close above 50% Fib retracement = 🚀
4. $14K – A close above monthly ATH close always = 🚀
— Nunya Bizniz (@Pladizow) June 1, 2020
The government needs to stop this madness of deciding whether they want to ban crypto or not. Either do it so we can fight it or come up with better regulations instead of throwing a news byte every few days creating panic in public.
Aadmi kare to kya kare?
— Naimish Sanghvi (@ThatNaimish) June 12, 2020
Evidence of buyer interest around $btc M.O.This level got front run on recent dumps. Sellers just don’t have what it takes to push price down.
Longed. pic.twitter.com/LDyjNYJQDn
— Mohit Sorout 📈 (@singhsoro) June 11, 2020
India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses
https://charts.woobull.com/bitcoin-hodl-waves/
https://cointelegraph.com/news/bitcoin-price-to-hit-12k-or-8k-next-btc-traders-discuss-macro-signs
Post Views: 291 -
BITCOIN PRICE HITS 0K BRIEFLY | BTC Now ‘Perfectly on Track’ to 0K | Chainlink Surges New ATH
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Bitcoin price experienced a massive spike towards $100,000 on its Quarterly Futures chart.
According to the official Binance announcement, a single user placed several large orders over a very short period of time creating an insane BTC candlestick wick up to $99,964.
This incident did cause the entire Crypto market to shake.
According to Binance, because Futures uses the mark price for liquidations and other calculations, no one was actually liquidated when the BTC price touched $99,964, however, on the spot market, there was a large fluctuation in price.
In less than 1 hour, Bitcoin went from a high of $12,123 to $10,518 before quickly recovering above $11,000.
Ethereum price also got affected dropping from $415 to $325 in the same time frame.
Other major coins suffered the same price action.
In other trending Bitcoin News today:
Bitcoin Now ‘Perfectly on Track’ to $100K, Says Stock to Flow Creator
PlanB, the well-known creator of the contested stock-to-flow (S2F) model, believes Bitcoin (BTC) is now well on track to reach $100,000 as the price has risen to yearly highs.
The optimistic sentiment coincides with the shift in momentum from alternative cryptocurrencies, or altcoins, to BTC. He recently shared,
“I can’t make a chart for you now (at sea), but S2F model perfectly on track.”
At the same time, the price of Bitcoin has increased by 17% this week, as it broke through a major three-year trendline.
As Cointelegraph reported, traders seemingly expect BTC to test higher resistance levels in the near term.
Altcoins declined particularly in the past 72 hours when the price of Bitcoin started to rally.
Ethereum’s Ether (ETH) moved in tandem with BTC throughout the rally, but it slumped against BTC in the past two days.
In the short term, as Bitcoin sees a profit-taking rally from altcoins, some investors expect BTC to outperform altcoins.
Kelvin Koh, the co-founder of Asia-based venture capital firm Spartan Group, said:
“If BTC breaks the resistance at $11.4K, we are going above $12K in no time. Will take the wind out of alts again short term.”
In other trending BTC news today:
Chainlink (LINK) Surges 12% to a Fresh All-Time High of $9.72
For the first time in its multi-year history, the Chainlink price passed above $9.00 for the first time ever on Monday.
At the local highs, the asset reached a price of $9.72, as per data from CoinMarketCap.
This surge comes after Chainlink was subject to a strong retracement after hitting $8.94 near the middle of July.
Like many other leading altcoins, LINK suffered from volatility in the prices of Bitcoin and Ethereum, which centralized gains in those market players.
LINK currently trades at $9.50 as of this time, having dropped slightly from the local highs (which is also the all-time high).
According to Santiment, blockchain analytics firm, indicated amid the surge that there has been an uptick in trading volume and social sentiment.
This may suggest that Chainlink does have room to rally.
What it may also show, though, is that a near-term peak may be reached.
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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:
Chainlink (LINK) Surges 12% to a Fresh All-Time High Above $9
https://cointelegraph.com/news/bitcoin-now-perfectly-on-track-to-100k-says-stock-to-flow-creator
Post Views: 291