SHARP $48K BITCOIN RALLY BY AUGUST TO ABRUPTLY FOLLOW MARKET RETREAT!! DEFI ON BTC COMING SOON!!

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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/2020/01/07/john-mcafee-lays-down-crypto-transparency-challenge-to-us-congress/

https://www.newsbtc.com/2020/01/08/crucial-indicator-shows-bitcoin-price-250-higher-in-2020/

➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net

Veteran analyst Tone Vays says an epic Bitcoin (BTC) rally is in store if the king of crypto can overcome key areas of resistance.

In a new episode of Trading Bitcoin, Vays says the TD Sequential indicator, which traces a series of price points to identify potential breakouts, suggests the Bitcoin price may break out to $9,000 in the short term.

But despite the bullish indicator, Vays says he’s not betting on this coming to fruition due to a strong line of resistance at $8,000. (Which FYI we just hulk smashed this morning)

“Can we make it to [$9,000]? Anything is possible… The biggest reason why that’s a little too optimistic is this behemoth of triple resistance of the 128-day moving average, the 200-day moving average and a fibonacci 62% line [at $8,000]. That is a monster.”

If Bitcoin can make it to $9,000, Vays says the last line of resistance is a descending triangle that currently stands at $9,500. If that happens,

Vays says the highly discussed stock-to-flow model from the anonymous analyst PlanB – which forecasts that BTC will hit anywhere from $100,000 to $288,000 by 2024 – will suddenly be on the table.

Vays also points to John McAfee’s infamous bet that BTC will hit $500,000 this year.

“The moment we break above this red line [at $9,000] PlanB is going to be right. And PlanB has some very optimistic targets.

In other trending Bitcoin News today:

Crypto Strategist Nicholas Merten Says Bitcoin (BTC) Ready to Pop As Halving Approaches

Merten expects Bitcoin to maintain its bullish momentum and trend toward $9,000, as BTC continues to form a giant wedge that dates back to the second half of 2017.

But the strategist points out that Bitcoin’s signature volatility is going nowhere.

“It’s likely that as we go into the halving event, sure we are going to see an increase in volatility. It’s an important point to keep in mind. We are going to definitely see a lot of jitter, but I think we’re going to continue this trend up here, and it’s going to pick up momentum as we go into the halving event to where we’re going to probably be up into around the $9,000 range, if not the upper $8,000 range.”

After the halving, Merten believes Bitcoin will give up some of its gains in the short term, but continue to maintain its bullish steam in the bigger picture.

Although he’s careful to point out that anything can happen in the current global economic climate and that BTC has proved many traders wrong in the past, Merten says Bitcoin’s historical logarithmic growth curves, significant lows and significant resistance suggest BTC is gearing up for a new cycle to around $100,000.

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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:

https://cointelegraph.com/news/bitcoin-hits-8k-erasing-coronavirus-crash-13-days-till-halving

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Many analysts asserted that 2020 would be a strong year for the Bitcoin price long before the current global economic crisis began.

Most notably, the flagship cryptocurrency was expected to jump after May’s block reward halving.

New data now suggest that these BTC predictions are still on-track.

Analyst PlanB continues to stand by the assertion that Bitcoin’s stock-to-flow ratio points to extremely high gains after the halving.

This metric is determined by comparing present inventory to production and is a common tool used to gauge the value of hard commodities such as precious metals.

PlanB has just tweeted:

“So btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May.”

Thus, although a prediction of USD $70k may seem outlandish, it would be perfectly in-line with previous gains for the flagship cryptocurrency.

Also, there is no doubt that the capital exists to drive Bitcoin this high, as well as the public interest.

In fact, government responses to the impending recession may make Bitcoin and other cryptocurrencies even more attractive.

A just-published article on HackerNoon asserts that the banks and legacy financial companies are all but certain to receive massive bailouts, just as they did in 2008.

However, unlike twelve years ago, the infuriated public has the opportunity to put their assets into crypto, which will boost prices.

Author Mark Helfman writes: “Don’t underestimate the potential for this financial crisis to spur people into buying crypto and building businesses around crypto-based products, services, and processes.

People might get so angry that they look for an “out” that doesn’t involve the banks, governments, and corporations.”

It is worth noting that Bitcoin was born out of frustration with central banks, and the U.S. government’s willingness to prop up incompetent and corrupt financial institutions.

It is safe to assume that a repeat of this cronyism would only drive more investors into the crypto space.

Market activity notwithstanding, the development and adoption of Bitcoin and other cryptocurrencies are rapidly taking place.

Of particular note is the institutional embrace of blockchain technology by a wide range of industrial sectors.

Also, whereas fiat remains strong for purchases, the world is increasingly turning to crypto for remissions and financial transfers.

It is these real-world use cases that will play a key role in driving up Bitcoin’s value.

In other words, the central bank-issued fiat must now compete with a new asset class that offers many clear advantages.

When placed in this context, predictions of much higher Bitcoin prices are very realistic.

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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:

So #btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May🚀 pic.twitter.com/2pkCgOSAEN

— PlanB (@100trillionUSD) April 4, 2020

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