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PayPal has officially withdrawn from the Facebook Libra Project, the company announced Friday.
Paypal “made the decision to forgo further participation” in the Facebook-initiated Cryptocurrency project, to instead “continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations.”
In other Crypto news today:
Apple CEO Tim Cook made a serious Bitcoin rival warning, pouring water on expectations it could be planning its own bitcoin rival – and warned against companies creating their own cryptocurrencies.
Are Altcoins ready to explode?!
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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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BITCOIN HALVING: A New Class Of Millionaires May Emerge | BTC Halving Searches Go Parabolic
➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net
Crypto investors and hodlers alike are sitting on the edge of their seats, waiting to see what unfolds with the highly anticipated ‘Bitcoin Halving’ event that is scheduled to take place mid-May.
Since the Bitcoin (BTC) inception in 2009, the halving (also known as halvening), is an event that takes place roughly every 4 years.
During the halving, block rewards are cut in half, which in turn, limits the supply of bitcoins.
To date, there have only been 2 Bitcoin halvings. From a historical perspective, during previous halvings, each time the Bitcoin price has reached all-time new highs:
On November 28th, 2012, the first BTC halving occurred, which saw the BTC price increase from $11 to $1,000 around a year later.
During July 2016, the second halving took place and the price of Bitcoin was trading at around $700, and in 2017, the price skyrocketed to $20,000.
The third Bitcoin halving, which is scheduled to take place in May 2020 has seen some lofty predictions on Bitcoin prices.
Billionaire Bitcoin bull Tim Draper believes that the price of one BTC could rise to $250,000; Buffett’s Books founder Preston Pysh thinks that bitcoin could skyrocket to $300,000 after the halving; former Goldman Sachs hedge fund manager Raoul Pal predicts that the price of Bitcoin to hit $1,000,000 within 3 years; and Silk Road founder Ross Ulbricht predicted that it could hit an astronomical price of $333,000,000 per Bitcoin.
In other trending Bitcoin News today:
Bitcoin Halving Searches Go Parabolic: BTC Price Could Follow For 2 Reasons Firstly, data from Google Trends indicates that there is a muddy yet apparent correlation between interest in the term “buy Bitcoin” and the term “Bitcoin halving,” suggesting the halving is convincing investors to buy BTC.
This assertion can be corroborated by on-chain data from Glassnode, a crypto analytics firm that has indicated two things over the past week:
Long-term Bitcoin investors have been accumulating more and more coins each day as the halving has drawn near.
In fact, they found that the “Bitcoin Hodler Net Position Change” metric just established a fresh yearly high.
There are more than 17,000 “new entities” joining the Bitcoin network each day, which was a level of retail involvement last seen at the start of 2019’s bull run.
This would suggest that should as the halving continues to increase in popularity, so too should the public’s propensity to buy Bitcoin.
Secondly, analyst “PlanB” found that Bitcoin’s price will get a strong boost in the wake of the halving.
The model, accurate to 95% R squared (accurate in statistics lingo), suggests Bitcoin will have a fair value of $50,000 to $100,000 after the halving.
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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 Halving Searches Go Parabolic: BTC Price Could Follow For 2 Reasons
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$100 MILLION PER BITCOIN BY THIS DATE, PREDICTS TOP ASSET MANAGEMENT GIANT!!!! BELARUS TO MINE CRYPTO!!!!
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Boston-based investment giant Fidelity Group is injecting a heavy dose of hopium in the market with its latest “very special” webinar, where it took a deep dive into Bitcoin and its possible effects on the market.
Fidelity, which also has its own crypto arm, Fidelity Digital Assets that builds enterprise-grade bitcoin custody services for large institutions, isn’t new to the space as it first started mining BTC in 2014 and then Ethereum (ETH) as well.
Now, the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.
In other trending Bitcoin News today: Belarus President Urges Belarusians to Mine Cryptocurrency Rather Than Pick Strawberries Abroad!
President Alexander Lukashenko has advised workers to stay in their home country instead of emigrating to fill low-paid farming jobs in Poland and Germany. The Belarusian leader pointed to an alternative source of income, noting there’s enough electricity in Belarus to power cryptocurrency mining.
“Create something on electricity. In the end, start mining cryptocurrency or whatever it’s called. There is enough electricity in the country.”
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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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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
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