RIPPLE XRP IS DOGSH*T SAYS BITMEX CEO | Bitcoin (BTC) is Brewing the Perfect Storm Parabolic Rally

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Macro investor Dan Tapeiro, just revealed a Bitcoin price chart which suggest BTC soars 38X peaking at $387,000 on May 12th, 2021.

However, he reveals the following conservative BTC price prediction based on this chart:

“Tremendous long term Log Chart of Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

The investor goes on to share:

“I spent 25 yrs looking at charts all day. I would not say that I was a technical analyst but I did learn that certain patterns repeat in obvious ways. When you can identify those patterns it can be very profitable.”

Bitcoin is copying what it did a year before its $20,000 all-time highs, and the new bull market has been here for over a year already.

That was according to popular statistician Willy Woo, who this week shed further light on Bitcoin’s current price gains.

Woo: Bitcoin “early main bull phase” began recently In a series of tweets on Aug. 10, Woo continued a debate begun by Bitcoin developer Jimmy Song, who himself debated the topic in the latest issue of his Tech Talk blog post series.

“Yes. The bull market really started April 2019,” Woo responded, continuing:

“What’s started recently is the early main bull phase, it’s Q4 2016 all over again, but different dynamics and themes at play.”

BTC/USD hit $12,000 twice in recent days, managing to hold support at $11,500 in a long-awaited show of strength that has given many analysts cause for long-term optimism. 

Despite failing to flip $12,000 to support, Bitcoin remains firmly bullish, both sentiment and technical fundamentals-based evidence suggests.

For Woo, the composition of the market formed a major difference in maturity between this year and 2016 — maturity which has historically dictated both price trajectory and volatility.

“One of the themes is the legitimization of BTC for large institutional funds, and also the easy accessibility to buy crypto for the masses with the likes of square cash, paypal, and not to mention the one I’m working on LVL which is real regulated banking integrated with crypto,” he continued.

In other trending Bitcoin News today:

Four Altcoins Could Break Out As Ethereum-Based Ecosystem Goes Parabolic, According to Messari Researcher

Messari researcher Ryan Watkins is shining the spotlight on four small-cap crypto assets in the Ethereum ecosystem.

In a series of tweets, Watkins says the coins could be part of a new decentralized finance (DeFi) paradigm that breaks out alongside the second-largest blockchain.

“As Ethereum faces challenges scaling and interest in DeFi goes parabolic, there hasn’t been a better time for a parallel DeFi ecosystem to break out.”

Watkins says Terra (LUNA) generates the highest transaction fees after Bitcoin and Ethereum.

The Messari researcher highlights the fact that Terra is on track to print $3.8 billion in annualized transaction volume, allowing the coin to pocket $26 million in transaction fees.

Watkins says from a fundamental standpoint, Luna is a potential big winner.

“If LUNA were to be valued like it’s peers by year-end, it would imply as much as a $3.53 price – 10x current.”

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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:

Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.Just breaking up NOW.Should last a few years as 2.5yr consolidation is fantastic base for catapult up.Break of old highs will have explosive follow through. Time to sit and be patient.

H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h

— Dan Tapiero (@DTAPCAP) August 11, 2020

Yes. The bull market really started April 2019. What’s started recently is the early main bull phase, it’s Q4 2016 all over again, but different dynamics and themes at play. https://t.co/8fZgO3Upu9

— Willy Woo (@woonomic) August 10, 2020

What a difference a month makes! In July (btc $9000), 43% of my followers thought btc would stay below $55k until Dec 2021 (i.e. 43% did not believe S2F model). Now (btc $11500) that is 30%. So 25% in that group changed their mind. And 51% thinks #bitcoin > $100k before Dec 2021. pic.twitter.com/GgmIu1QzVr

— PlanB (@100trillionUSD) August 10, 2020

https://cointelegraph.com/news/bitcoin-price-is-in-early-main-bull-phase-circa-q4-2016-willy-woo

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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://dailyhodl.com/2020/08/18/crypto-strategist-says-this-large-cap-altcoin-is-about-to-outperform-bitcoin-with-175-upside-potential/

https://dailyhodl.com/2020/08/19/million-dollar-bitcoin-whale-says-traders-should-track-two-altcoins-in-addition-to-btc/

https://cointelegraph.com/news/98-of-all-bitcoin-is-now-worth-more-than-when-you-bought-it

https://cointelegraph.com/news/a-critical-mass-of-long-term-btc-hodlers-seem-to-be-making-100k-inevitable

💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts

A $1 million Bitcoin price could be in our future a lot sooner than you think. The reality is that BTC is already in heavy use today as a store of value, and this underlying utility of Bitcoin could potentially take its price to $1 million per coin.

The size of the global bond market was recently estimated at $119 trillion. Remember, not all coins are for sale, meaning the total value of the Bitcoin market would be far greater than $20.9 trillion if all of this money were to move into the crypto asset. 

Some estimates put the effect of new buy orders on Bitcoin’s market cap at 25x the value of the purchases, so from this perspective, $1 million looks quite conservative.

In other trending Bitcoin News today: 

Bitcoin (BTC) has recorded its biggest mining difficulty drop of nearly 28% on July 3, but one model suggests that the BTC price will not bottom until October.

In a series of tweets on July 2, investment manager Timothy Peterson flagged the relationship between Bitcoin price and hash rate as arguable evidence that the dip is not over.

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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://www.fool.com/investing/2021/06/02/why-a-1-million-bitcoin-price-isnt-crazy/

https://cointelegraph.com/news/bitcoin-mining-difficulty-just-fell-by-a-record-28-but-will-this-help-btc-price-recover