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Renowned quantitative analyst PlanB is revealing what he thinks the end of this year will bring for Bitcoin, and how much longer the current crypto bull market can last.
The top end of PlanB’s S2FX model pins $288,000 for BTC at the peak of this cycle. However, the analyst suggests that a brief shot above that target before finally correcting is not impossible.
“I guess we will be above $100,000 [or] above $135,000 at the end of the year, and we’ll continue to grow maybe towards the S2FX model targets, $288,000 or even above. I would not be surprised even to see in Q1 or Q2 next year, prices of $300,000, $400,000, $500,000…”
In other trending Bitcoin News today: Bitcoin Supply Shortage Setting the Stage for Higher Prices, According to Crypto Analyst Nicholas Merten!
Popular crypto analyst Nicholas Merten of DataDash is looking at one key metric to explain what’s fueling Bitcoin’s bull run towards new all-time highs.
“So we’re in October. We were hoping by the end of this year that we would see a rise back up to previous all-time highs of 65k, and then set the stage to continue climbing higher and make new all-time highs in price, and eventually charter towards six-digit territory at 100k, and with our most euphoric estimate being $200,000 in this cycle.
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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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THE 0K BITCOIN BULL CASE BY ANTHONY POMPLIANO!! MAX KEISER PREDICTS 0K BTC PRICE!!
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Bitcoin has every possibility to grow its market size by 15-20X within the next 15 months, according to BTC bull Anthony Pompliano of New York-based hedge fund Morgan Creek Digital.
“My base case is approximately 10x to $100,000 and the bull case is around $250,000 per bitcoin,” he predicted after assessing all the said catalysts.
The founder said in a note to investors that they should put 1-10 percent of their investable capital into Bitcoin.
Recalling his own portfolio’s 50 percent exposure in the cryptocurrency, Pomp cited a string of upside catalysts that would benefit anyone who invests-in/holds the 11-year old financial asset.
The first optimistic fundamental in line was the Federal Reserve and its unprecedented monetary policies.
The US central bank in April cut its interest rate to near-zero to boost lending amid the coronavirus pandemic.
In its recent remarks, the Fed vowed to keep the rates lower for the foreseeable future.
More tailwinds Bitcoin’s bullish bias came from the US government’s $3 trillion stimulus package.
Because of it, the Fed’s balance sheet expanded by 75 percent since the beginning of 2020.
The bank further announced that it is targeting a 2 percent-plus inflation level.
“The average investor fears inflation right now, regardless of whether we [actually] see that inflation or not,” wrote Mr. Pompliano, adding that the “fear has driven significant capital flows into inflation-hedge assets (Gold, Bitcoin, Real estate, etc.).”
“The combination of the Fed’s asset price manipulation and inflation fears has driven gold and Bitcoin to drastically outperform equities and other commodities.”
Bitcoin rose by around 50 percent on a year-to-date timeframe. Pomp predicted a further upside for the cryptocurrency due to growing demand from the institutional investors.
For instance, Fidelity Investments, a Boston firm with $3.3 trillion worth of assets-under-management, favored a 1-5 percent allocation to Bitcoin in any portfolio.
Meanwhile, Stone Ridge, a $10 billion asset management firm, revealed that it now owns $15 million worth of BTC tokens.
Billionaire investor Paul Tudor Jones put 1-2 percent of his $22 billion portfolios into Bitcoin Futures.
Also, many pensions funds gained exposure in the cryptocurrency.
Pomp’s letter highlighted corporations that purchased Bitcoin as a reserve asset for part or majority of their treasury.
That included MicroStrategy, a $1.2 billion market cap firm that put 85 percent of its $500 million balance sheet ($425M) into Bitcoin, and global payments firm Square that last week purchased $50 million worth of BTC tokens.
“The demand outlook is strong, and it shows signs of actually accelerating into the first half of 2021,” added Mr. Pompliano.
The fund manager later discussed the Bitcoin market’s potential supply shock.
With a 21 million hard cap and 18.4 million units already in circulation, Mr. Pompliano noted that Bitcoin’s scarcity against its rising demand would act as another bullish tailwind.
In other trending Bitcoin News today:
Bitcoin pioneer Max Keiser went on a Crypto Twitter rant predicting a $28K short term Bitcoin target along with a $400K BTC price target for the long term…
“There is strong evidence to suggest Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000”
“The (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000”
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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:
There is strong evidence to suggest #Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000
— Max Keiser (@maxkeiser) October 16, 2020
The (temporary) #Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000
— Max Keiser (@maxkeiser) October 16, 2020
❓Why does #bitcoin price not go up with all this institutional buying? Who is selling? BTC price is exactly where it should be, holding firm above $10K, waiting for that one moment .. asymmetrical returns .. patience! pic.twitter.com/pCyftmvHco
— PlanB (@100trillionUSD) October 16, 2020
Bitcoin Will Likely Grow 15-20x in Next 15 Months: Fund Manager
https://cointelegraph.com/news/calm-before-the-storm-analyst-says-20k-bitcoin-possible-in-3-months
Post Views: 208 -
BITCOIN WILL AT LEAST 45X FROM HERE SKYROCKETING TO 5K SAYS BTC BILLIONAIRE TYLER WINKLEVOSS!!
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Bitcoin billionaire Tyler Winklevoss says the Bitcoin price will ‘at least’ 45x from here surging to $585,000 per BTC in his recent tweet on Crypto Twitter:
“JP Morgan analysts think Bitcoin could triple in value and challenge gold. While I think its at least like a 45x from here, not a 3x, at least we can agree that bitcoin is going up. It’s hard to understand why anyone wouldn’t own BTC by now.”
The Bitcoin bull was referencing the following Fortune article entitled:
“For years J.P. Morgan was skeptical of Bitcoin. Now the bank’s analysts say its value could triple, challenging gold”
A team of analysts at J.P. Morgan’s Global Markets Strategy group are touting Bitcoin’s emergence as an alternative to gold among millennials, suggesting a “doubling or tripling” in the price of the cryptocurrency if current trends continue.
The prediction, which came in a research note published on Friday, is remarkable given the bank’s onetime skepticism toward Bitcoin, which included CEO Jamie Dimon calling it a “fraud” in 2017 and saying he would fire anyone trading it for being “stupid.”
J.P. Morgan’s bullish stance is driven in part by PayPal’s recent decision to offer Bitcoin to its customers and Square’s recent move to add $50 million of the cryptocurrency to its balance sheet.
Another major factor for its position, though, is the demographic trend in which younger generations are choosing Bitcoin over gold.
“The older cohorts prefer gold, while the younger cohorts prefer Bitcoin as an ‘alternative’ currency,” says the research note.
The analysts go on to observe that, if this trend continues, there could be a challenge to gold in the long term—with important price implications for Bitcoin.
“Even a modest crowding out of gold as an ‘alternative’ currency over the longer term would imply doubling or tripling of the Bitcoin price from here,” the note states.
Bitcoin is currently trading at around $13,000.
That falls well short of its all-time high of nearly $20,000, which occurred during the crypto bubble of late 2017, after which Bitcoin fell to around $3,400 the following year.
The current price run-up has been more stable, however, with Bitcoin staying above the $10,000 mark for an unprecedented three-month stretch. Millennials’ embrace of Bitcoin has been underway for a while.
Late last year, a Charles Schwab survey found that shares of GBTC, from Grayscale—a company that holds Bitcoin in trust—were more popular among the cohort than famous names like Netflix and Disney.
Meanwhile, Grayscale has been fanning the trend with a national TV campaign called “Drop Gold.”
In other trending Bitcoin News today:
Bitcoin Just Posted Biggest Buy Signal in More Than Two Years, Says Top Crypto Analyst Nicholas Merten – Here’s What’s Next
DataDash founder and crypto analyst Nicholas Merten says Bitcoin just flashed its biggest buy signal in over 24 months.
“What we need to do is set a close, and I would like to see a substantial close above the yearly high close here which is $13,880. If we can get $14,000, $15,000 for Bitcoin just by the end of the year, going through October, November, up until December…
That’s all we need to see folks. It is a clear telltale sign in price in the simplest form of analysis. Again, simplicity wins out. It is the simplest key sign here that we’re setting up for a substantial move in the market.”
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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:
JP Morgan analysts think #Bitcoin could triple in value and challenge gold. While I think its at least like a 45x from here, not a 3x, at least we can agree that bitcoin is going up 🚀. It’s hard to understand why anyone wouldn’t own BTC by now. https://t.co/FurucyrVMV
— Tyler Winklevoss (@tyler) October 26, 2020
https://fortune.com/2020/10/26/jp-morgan-chase-bitcoin-predictions-analyst-jpm-cryptocurrency/
https://www.btctimes.com/news/can-october-record-bitcoins-highest-monthly-close
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BITCOIN PRICE TO PLUNGE TO ,400?! | Bearish BTC Halving in 2020?!
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Here’s why the Bitcoin price may be about to return to $6,000, maybe lower. It seems that the “Crypto Winter” of 2018 has come back to haunt Bitcoin bulls in 2019.
Cole Garner, a popular cryptocurrency analyst, recently noted that miners are on the verge of capitulating, which is what happened in mid-November, just before the BTC price began to tumble from $6,000 to $3,000. Miner capitulating, for those unaware, is when “small miners get backed into a corner when BTC price is low & the generation of mining hardware they use becomes obsolete.”
The important part of this is that the capitulation of miners induces the sale of mined Bitcoin en-masse, pushing prices lower in a vicious cycle: “Undercapitalized miners panic sell, price dumps, longs get squeezed, stop losses cascade.”
A Bearish Bitcoin Halving?
There are still six months to go before the Bitcoin halving but this could be the first one that has a bearish run up. Industry analyst Willy Woo has looked at the longer time frame charts and noticed that historical BTC halvings have always been bullish leading up to the event.
“NEVER gone into a halvening in BEARISH price action, miners already capitulating adding sell volume. Historically we front run with a BULLISH setup, miner capitulating only after halvening when revenues are slashed. This is a unique setup. Quite bearish leading up to the event.”
Willy Woo added…
“I expect way more volatility. Short term bearish is all I’m saying. And don’t expect price will repeat past halvenings.”
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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:
NEVER gone into a halvening in BEARISH price action, miners already capitulating adding sell volume. Historically we front run with a BULLISH setup, miner capitulating only after halvening when revenues are slashed. This is a unique setup. Quite bearish leading up to the event. pic.twitter.com/20748Zv8aQ
— Willy Woo (@woonomic) November 18, 2019
Bitcoin Capitulation Near, Price to Plunge to $6,400 if History Rhymes
For First Time Ever, Bitcoin Set to go Into 2020 Halving in Bearish Action
Post Views: 224