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To HODL Bitcoin is to love BTC. And love, being the primary experience which we were set upon this earth for, should be spread like pollen in the wind.
Retail investors have the ability to drive us to a $1 million Bitcoin price all the sooner through their efforts to show Bitcoin to others — or BTC will simply show itself.
In other trending Bitcoin News today: Ukraine Adopts Law ‘On Virtual Assets’ to Regulate Crypto Market!
The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses.
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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:
https://bitcoinmagazine.com/culture/retail-investor-1-million-bitcoin-price
https://news.bitcoin.com/ukraine-adopts-law-on-virtual-assets-to-regulate-crypto-market/
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JPMORGAN SAYS GOLD WILL SUFFER FOR YEARS BECAUSE OF BITCOIN! BTC TO K BY MAY 2021, SAYS THE MOON!
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Bitcoin advocate, The Moon Carl who has 146,000+ YouTube subscribers, told his 70,000+ Twitter followers that he predicts the BTC price to hit $50,000 by May, 2021.
This virtually means he expects the Bitcoin price to grow 250% in the next 5 months.
Stock-to-flow model predicts a $100,000 BTC by December of 2021 so The Moon Carls bullish Bitcoin prediction is right in alignment with this popular model.
In other breaking Bitcoin News today:
JPMorgan Says Gold Will Suffer for Years Because of Bitcoin
The rise of cryptocurrencies in mainstream finance is coming at the expense of gold, says JPMorgan Chase & Co.
Money has poured into Bitcoin funds and out of gold since October, a trend that’s only going to continue in the long run as more institutional investors take a position in cryptocurrencies, according to the bank’s quantitative strategists including Nikolaos Panigirtzoglou.
JPMorgan is one of the few Wall Street banks that’s predicting a major shift in gold and crypto markets as digital currencies become increasingly popular as an asset class. The trend poses a problem for bulls in precious metals markets over the coming years if investors move, even a small slice, of their allocations away from gold and into crypto.
“The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” wrote the JPMorgan strategists.
The Grayscale Bitcoin Trust, a listed security popular with institutions, has seen inflows of almost $2 billion since October, compared with outflows of $7 billion for exchange-traded funds backed by gold, according to JPMorgan.
JPMorgan’s calculations suggest Bitcoin only accounts for 0.18% of family office assets, compared with 3.3% for gold ETFs. Tilting the needle from gold to bitcoin would represent the transfer of billions in cash.
One way to play the theme is buying one unit of Grayscale and selling three units of the SPDR Gold Trust, the bank said.
“If this medium to longer term thesis proves right, the price of gold would suffer from a structural flow headwind over the coming years,” wrote JPMorgan’s strategists.
In other tending Bitcoin news:
MicroStrategy CEO Increases Convertible Senior Notes Offering to $635M to Buy More Bitcoin
Michael Saylor just doesn’t give a f—. As we reported, the company’s share dived 17% after Citi released its bearish report on MicroStrategy, where the analyst questions Saylor’s focus on Bitcoin.
While Citi analysts called Bitcoins’ rally “overextended,” it has been the Bitcoin investment that helped the company shares rise to a level not seen since 2000. In 2020, BTC has rallied more than 150% on top of 2019’s 90% gains.
MicroStrategy CEO announced today the pricing of the offerings of the convertible senior notes.
As per the official announcement, the offering amount has been bumped up to $550 million from the previous $400 million as shared in Monday’s announcement. The official announcement reads,
“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $537.2 million (or approximately $634.9 million if the initial purchasers exercise in full their option to purchase additional notes).”
But of course, the most interesting part of it all is that the company intends to invest the net proceeds from the sale of notes in Bitcoin per its Treasury Reserve Policy. Bitcoin advocate Max Keiser said,
“Michael_saylor /MicroStrategy is making a speculative attack on the Fed/USD like Soros/Druckenmiller did against the BoE/GBP in 1992, ejecting it from the ERM.”
“Saylor has pulled the pin and tossed a grenade into the Fed’s boardroom.”
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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:
Citi: “You’re crazy with this Bitcoin thing. You’re downgraded!” 👉🏻😵
MicroStrategy: “We have *so* much investor interest we’re upping our offering from $400M to $550M. Oh, and investors can buy another $100M on top of that if they want.”
— Ellie Frost (@BlockBytch_) December 9, 2020
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$100K BITCOIN EARLY AS NEXT MONTH SAYS BLOOMBERG ANALYST AS GOLD INVESTORS MOVE TO BTC AND ETHEREUM!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Gold is experiencing outflows as investors embrace cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), according to Bloomberg commodity strategist Mike McGlone.
The commodity strategist predicts a $100K BTC price as early as October as a result of a futures-based Bitcoin exchange-traded fund (ETF), a financial product that provides exposure to the flagship cryptocurrency via derivatives, could be launched by the end of next month.
“… potentially by the end of October. But [as] a futures-based ETF, kind of the way you track most commodities. … So it’s just a matter of time.
[U.S. Securities and Exchange Commission chair Gary] Gensler even hinted at that. It’d be a nice little baby step for the SEC. So it makes sense.”
In other trending Bitcoin News today: Bitcoin and Ethereum Looking Strong as Institutional Crypto Activity Hits Critical Mass: Mike Novogratz!
Billionaire and Galaxy Digital CEO Mike Novogratz says corporate interest in Bitcoin and Ethereum has never been higher.
In a new interview with CNBC, the top executive says that even though crypto markets just suffered through an “ugly” moment, institutional interest is clearly ramping up.
“We held 40,000 in BTC and 2,800 in ETH. These are important levels for people to watch [because] as long as those hold, the market is in very good shape.
I’ve seen nothing but engagement and activity from our investing and corporate clients. The level of inquiry [and] the level of business has never been higher. We see so much capital coming into the space in private ways and in public ways. I’m not nervous.”
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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 FACING ITS FINAL RESISTANCE ZONE BEFORE K BTC!! CHAINLINK 52% MASSIVE RALLY!!
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The Bitcoin price is facing its final resistance zone until the bull market is on fire.
However, will BTC break through this resistance zone in one attempt?
The charts suggest that the $11,600-12,000 area is a crucial level to break if the BTC price is to continue moving higher.
As the price of Bitcoin couldn’t break through that resistance zone, a slight drop occurred on Friday from $11,900 to $11,350, after which BTC has managed to pare most of the losses since.
BTC/USD is still fighting at the resistance zone at $11,800-12,000.
Unfortunately, no breakout just yet, while silver and gold have been showing more strength recently.
The chart shows that there’s a clear resistance zone at $11,800-12,000.
This is a significant level as it is the final untested level until Bitcoin enters open air.
If there’s a breakthrough in this resistance zone, Bitcoin’s price can easily run toward $15,000-16,000.
Such a run would only increase the FOMO, or fear of missing out, in the markets.
The bullish scenario for Bitcoin Breaking $12,000 underpins the bullish scenario.
If the resistance area finally breaks as resistance, $15,000 then becomes a likely target for the bulls.
However, a clear breakout through the $12,000 area can only be confirmed with a support/resistance flip.
This would suggest that buyers are stepping in as the previous resistance transforms into new support.
The bearish scenario for Bitcoin The bearish scenario means that $12,000 was not broken.
If the resistance continues to be resistance, a renewed range-bound structure will likely occur in the coming weeks.
Another argument can be found in the forex markets.
The recent breakout of Bitcoin occurred while EUR/USD broke upwards from 1.14 to 1.19.
This breakout led to a drop of the USD against other currencies, which essentially triggered the massive breakouts in Bitcoin, gold, and silver prices.
If EUR/USD starts to correct from 1.19 to lower numbers, the USD is getting stronger.
Such a relief bounce will most likely trigger a further corrective move on the crypto and commodity markets, leading toward the scenario described above.
A range-bound period wouldn’t be bad for the markets, however, as altcoins have been doing relatively well in these times.
If Bitcoin’s price starts to correct, the focus could once again shift to altcoins.
In other trending Bitcoin News today:
Massive Short Squeeze Prompts Chainlink (LINK) Price to Rally 52%
Chainlink (LINK) price continues to set new records as the DeFi-related token surged 52% to reach a new all-time high at $13.8799 today.
Over the last 24-hours, LINK has surged by 52%, rallying from $9.05 to as high as $13.8799 on Binance exchange.
As Chainlink demonstrated a strengthening uptrend, its competitor Band Protocol (BAND), which also operates as a network for oracles, spiked 50% to reach a new all-time high at $14.30.
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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:
Bull divergence, BTC Dominance, expecting BTC to gain over alts in coming weeks. Waiting for the top indicator to reverse (detects volume movements). ETH currently more bullish than other alts. In that regard, I believe we’re in an era of dual pumpage. pic.twitter.com/hUuIoinfm5
— Willy Woo (@woonomic) August 9, 2020
https://bitcoinexchangeguide.com/bitcoin-wrap-up-4-big-things-that-happened-this-week/
https://cointelegraph.com/news/the-price-of-bitcoin-is-facing-its-final-resistance-zone-before-15k
https://cointelegraph.com/news/massive-short-squeeze-prompts-chainlink-link-price-to-rally-52
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