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Bitcoin Price Next Target ,500, Top Crypto Trader Predicts | BTC Is ‘Screaming’ ,000 Surge!
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A prominent crypto trader Eric Choe, aka Mr. Swing Trade, believes that the Bitcoin price may be heading to the moon soon and sets the next BTC price target at $12,500.
After Bitcoin (BTC) surged over the $9,000 threshold on January 28, traders are expecting the leading Cryptocurrency to keep appreciating, however, some still believe that Bitcoin may reverse and hit the bottom.
Eric Choe, who works with analysis based on Elliot Waves, has shared a chart which shows that Bitcoin is on its way to reaching a higher level in the short term.
Bullish on BTC, the trader names the $12,500 area.
‘The bottom for BTC has been in’ In his recent tweet, crypto trader BTC_Macro addresses those who believe Bitcoin has not reached the bottom yet and may still plunge as low as $1,000.
He insists that, as per the charts, the bottom of the Bitcoin price is well behind us already and it has been obvious for months now.
“Sure, maybe the bottom isn’t in yet. Sure, maybe we’ll go to $1k. Sure, maybe $XRP will pump to $589. Sure, maybe Unicorns exist. However, as a trader I prefer reality – and it’s been obvious for MONTHS now that the bottom has been in. Trade what you see, not what you think!”
Bitcoin Is “Screaming” For a Massive Surge: Factors That Will Send BTC Price Surging Past $20K
According to cryptocurrency content creator The Moon, Bitcoin’s hash rate “just hit” a new all-time high at over 123 exahashes per second – an astronomically large number of hashes being computed each second to process BTC transactions.
This, he claims, is a clear sign that BTC is “screaming for a huge bull run leading into the halving,” referencing the sentiment that Bitcoin will surge into the block reward reduction event, which will result in a 50% decrease in the asset’s inflation.
“The Bitcoin hash rate JUST HIT a new ALL-TIME-HIGH! A whopping 123,011,832 TH/s!!! The $BTC fundamentals are screaming for a huge bull run leading into the halving! BULLISH!!”
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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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Sure, maybe the bottom isn’t in yet.Sure, maybe we’ll go to $1k.
Sure, maybe $XRP will pump to $589.
Sure, maybe Unicorns exist.However, as a trader I prefer reality – and it’s been obvious for MONTHS now that the bottom has been in.
Trade what you see, not what you think!
— Bitcoin Macro (@BTC_Macro) January 29, 2020
https://u.today/bitcoin-btc-prices-next-target-12500-top-crypto-trader-predicts
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Bitcoin Price Still on Track to 0,000 Despite Recent Drop | BTC Crash NOT Due to Coronavirus
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Cryptocurrency analyst PlanB states that the Bitcoin price is still following his stock-to-flow model, which predicts that BTC, the top crypto by market capitalization is set to hit $100,000 before December 2021.
“S2F chart adjusted for today’s “crash” … nothing really happened, btc still spot on S2F track”
PlanB’s model attempts to forecast future price moves of Bitcoin (BTC) based on the correlation between the stock (the total available supply of the cryptocurrency) and its flow (the amount of newly minted coin).
So far, every reward halving has been game-changing for the crypto king, and the Dutch pundit doesn’t expect the forthcoming supply cut to be any different.
In May, miners will start earning only 6.25 BTC per block. PlanB forecasted that the BTC price would trade above $10,000 after this halving while gradually moving to the aforementioned $100,000 target.
With the Bitcoin price tanking more than 10 percent, the cryptocurrency is showing anything but strength in the short-term.
Nonetheless, PlanB says that the cryptocurrency shows no sign of weakness just weeks before the halving since its mining difficulty is expected to increase by a ‘massive’ seven percent during today’s adjustment.
Moreover, the analyst forecasts that BTC’s hashrate and difficulty will continue to increase after the Bitcoin halving, debunking the myth that there will be a miner capitulation.
Bitcoin Drop Due to 13K BTC PlusToken Scam, Not Coronavirus – Analysts
Bitcoin (BTC) began its sudden crash due to another giant sell-off from the PlusToken pyramid scheme, analysts are suggesting as BTC/USD lost $8,000 support.
According to various online commentators citing Blockchain data, participants in the $2.9 billion scheme are again attempting to rid themselves of their BTC.
Ergo, the Twitter account that closely tracks PlusToken’s activities, put the total funds involved at around 13,000 BTC or roughly $210 million at the current market price.
This time, Ergo said, the coins were going to mixing services to hide their traceability. Two feeder addresses have been identified, shedding their balances on March 5.
“Been looking and theorizing about this for months and I can’t see a scenario where the coins aren’t being sold, at least to some degree,” the account summarized.
“This was likely obvious to the exchanges starting in September. The accounts would have been frozen then.”
The account added, however, that selloffs were now occurring at a “much slower rate” compared to a more intense period of activity in August last year.
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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:
~13k in new PlusToken mixer deposits in last 24 hrs.Almost all previous mixer deposit change has entered mixing, confirming my theory.Distributions still on/off. Much slower than September and November.
New report and full sit rep imminent. pic.twitter.com/vwrBuVk272
— Ergo ∴TxIDs Or It Didn’t Happen∴ (@ErgoBTC) March 6, 2020
Bitcoin Just Broke $8K: Here Are Important Supports Traders Must Watch
https://cointelegraph.com/news/bitcoin-drop-due-to-13k-btc-plustoken-scam-not-coronavirus-analysts
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Crucial Indicator Shows Bitcoin Price 250% Higher in 2020 | John McAfee Challenge to US Congress
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The Bitcoin price could establish a new all-time high above the $20,000 level in 2020 as it hits crossroads with a bias-defining indicator.
The benchmark cryptocurrency’s latest move uphill prompted it to retest its 20-weekly moving average on Wednesday.
The technical indicator is conclusively accurate when it comes to defining the BTC price long-term trends.
When Bitcoin (BTC) breaks above the MA, it tends to stage parabolic bull runs. Nevertheless, the best-case scenario shows Bitcoin attempting a 250 percent jump in the long-term.
That would bring its exchange rate close to $28,000.
In other Crypto news today, one of the biggest issues many people have with government is its complete lack of transparency and accountability, which in turn creates national populations with a high level of distrust in the ruling classes. With their immutable transaction ledgers, financial innovations, like Bitcoin and other crypto assets, could help restore some of this lost trust.
Today, presidential hopeful and antivirus pioneer John McAfee laid down a challenge to members of US Congress.
The controversial crypto asset proponent asked if any single member of the United States government would be willing to permanently record all their financial dealings on the blockchain.
In the below tweet, addressed as a challenge to Congress, McAfee asks if any member of the US government would be willing to have every financial transaction they ever make permanently recorded via blockchain technology.
This would allow the US public to see exactly how the apparent representatives of the people were spending their own and public money.
Such a system would enable voters to see if the government was truly acting in the people’s, or in fact their own, interests.
“A CHALLENGE TO MEMBERS OF GONGRESS. Are you willing to be tokenized on the Blockchain – meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement? If not, why?”
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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:
A CHALLENGE TO MEMBERS OF GONGRESSAre you willing to be tokenized on the Blockchain – meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement?
If not, why?
— John McAfee (@officialmcafee) January 7, 2020
https://www.newsbtc.com/2020/01/08/crucial-indicator-shows-bitcoin-price-250-higher-in-2020/
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