TEEKA TIWARI: INSIDE A MONEY-MAKING SYSTEM LIKE NO OTHER | Top 10 Cryptocurrency Trends In 2019

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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

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Venture capitalist and Bitcoin billionaire Chamath Palihapitiya says BTC will drive financial accessibility to billions of people – if the global financial system crumbles.

The Social Capital CEO and former Facebook executive is one of the largest known Bitcoin HODL’ers that holds 1,000,000 Bitcoins.

In a new interview on CNBC’s Squawk Box with Joe Kernen, Palihapitiya explains what he believes it will take for Bitcoin’s price and adoption to reach meteoric heights.

“The last few million coins of Bitcoin are obviously going to cost more energy than the first 18 million. But in the grand scheme of things, again, this is something in Bitcoin parlance people say ‘Hodl’. You buy it, you hold it, you put it away.”

But Palihapitiya adds that this is a situation no one should want to happen.

“And honestly, I think you hope that you never need it because the amount of actual chaos that will drive bitcoin appreciation is not something you actually really want to see.”

On the other hand, Palihapitiya remains optimistic about the changes Bitcoin could make on the financial infrastructure.

“Now that being said, if it does happen, I think it will create an enormous power redistribution and it will push power, it will push financial accessibility to the edges, to billions and billions of people. And in that there is something to be really proud and excited about.”

Palihapitiya also says inflation will continue regardless of who wins the election in November.

“The most dominant factor that I see is the combination of Treasury and the Federal Reserve. They have printed so much money that the likelihood is we are going to continue to see asset price inflation independent of who is in the White House.”

Virgin Galactic Chairman Chamath Palihapitiya has shared his bitcoin investment strategy, predicting that bitcoin’s price could reach a million dollars.

He further suggested that everybody should have 1% of their assets in bitcoin since it is “a fantastic hedge.”

“In 2013, I bought a lot and at one point I think I had almost 5% of all the bitcoins. My basis is about 80 bucks a coin. I’ve never bought more.”

He then shared his Bitcoin prediction of how high he thinks the btc price could be over the next 10 years.

“It is a 10-year trajectory,” he began. “I’ve always thought of bitcoin as a very binary investment, whether it goes from 80 to 8,000 to 6,000 to 3,000 to 13,000, it doesn’t matter.”

Noting that bitcoin’s price will be “either zero or it’s millions,” Palihapitiya asserted:

“What it will do is it will create a quasi gold standard. It’ll create an index, except instead of having to own gold where gold is owned by central banks, it is an instrument that has value that’s determined in between its participants, and it’s owned by everybody.”

In other trending Bitcoin News today:

Bitcoin Forms Rare Bullish Crossover Not Seen Since 2014 – Here’s Why Analysts Are Preparing for a Big Move

Despite the uncertainty surrounding Bitcoin, the number one cryptocurrency just flashed a bullish signal that has not been seen in six years.

Crypto analyst Eric Thies is highlighting a trend indicator known as the KDJ, which has made a bullish cross on the six-month timeframe for the first time since 2014.

“BTCUSD Notes on this crazy high TF but I’ll gladly give hopium when I see it 6M KDJ crossed bullish when it closed in July, confirming an unmistakably bullish 6M hammer at the same time. Last time KDJ crossed bull was 2014 with a $200 BTC low. Last cross bear at $17k high.”

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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:

“The most dominant factor that I see is the combination of Treasury and the Federal Reserve,” says @Chamath. “They have printed so much money that the likelihood is we are going to continue to see asset price inflation independent of who is in the White House.” pic.twitter.com/315RlmEKPZ

— Squawk Box (@SquawkCNBC) October 6, 2020

https://news.bitcoin.com/chamath-palihapitiya-bitcoin/

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ChainLink (LINK) is having an ‘Altcoin Season’ of its own – all over again.

LINK has been known to move against the trend, staging a similar rally in the second quarter.

The Chainlink crypto has now grown more than 49% in a single week, touching $2.97 last night, with predictions of easily reaching $3.

LINK has managed to grow to and all time high of $4.54, and may repeat this record. The ChainLink price is also growing against Bitcoin (BTC), already breaking its own record to above 34,000 Satoshi.

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.

News Resources From Today’s Show:

5 Reasons Why ChainLink (LINK) Is Leading the Market Today

https://www.tradingview.com/chart/BTCUSD/Z1vb3kth-Bitcoin-Bullish-Signals-On-The-Daily-TimeFrame-11-111-Next/

I have had the 7.2-7.4k region as my bottom target for some time now, but if it is lost I think we test the mid 6k region and then we get our mega bounce to 14k+. Will be buying more spot all the way down and likely opening some low-leveraged longs in the mid 6k’s. $BTC pic.twitter.com/XfHdPdCRea

— Credible Crypto (@CredibleCrypto) October 9, 2019

$BTC – As you can see from the blue lines and volume profile Bitcoin price managed to break and close above the highest volume areas in this rangeThis will now typically act as support

$8,380s could act as resistance but price can run up to $8500s with a break above there pic.twitter.com/06PaiqdjTa

— Josh Rager 📈 (@Josh_Rager) October 8, 2019