Teeka Tiwari: The 1,000,000% Trade | Bitcoin (BTC) Can Transform Trillion-Dollar Industries

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Bitcoin dumped 17% in the past 24 hours liquidating $5.64 billion in extended BTC losses, however, Wall Street veteran and host of the Keiser Report, Max Keiser remains optimistically bullish sharing the following on Crypto twitter:

”Bitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart).  

We are now heading into a crushing inflationary period that will super charge BTC’s price to the stratosphere.

Incredibly bullish for Bitcoin. The BTC super cycle is just beginning!”

The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board.

Liquidations occur when leveraged futures positions fall to a certain threshold. For example, a position using 10x leverage would get liquidated or turn worthless if the price of BTC drops by 5%.

What triggered the mass Bitcoin liquidation fest?

If the Bitcoin futures market is highly overleveraged and overcrowded, a minor price movement can trigger mass liquidations.

According to analysts at Santiment, a data analytics firm, an address was responsible for the second-largest Bitcoin transaction of the year, as Cointelegraph reported.

More than 2,700 BTC were transferred right before the drop, which were bigger than the 2,000 BTC inflow seen before the March 2020 crash when Bitcoin dropped below $4,000. The analysts said:

“As we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoin’s price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet before a quick sell-off. This same address also made a 2,000 $BTC import last March right as the Black Thursday correction took place. In total, it’s made 73 transactions in its one-year existence, for a total of 91,935 $BTC imported, with all tokens moving away within minutes after arrival.”

It is a possibility that a major sell-off in the spot market triggered the futures market to see intense selling pressure from many long positions getting liquidated.

When Bitcoin initially began to correct on Feb. 22, the futures funding rate of the dominant cryptocurrency was hovering at around 0.15% even as it continued to drop.

In other trending Bitcoin News today:

North American Bitcoin ETF Erupts, Analyst Says It Could Soon Shatter $1 Billion in Assets Under Management

A Bloomberg Intelligence analyst is estimating that the first North American Bitcoin exchange-traded fund (ETF) is on track to reach $1 billion in assets under management (AUM) in the coming days.

In a new tweet, Bloomberg Intelligence’s senior ETF analyst Eric Balchunas predicts that the Purpose Bitcoin ETF, which trades under the BTCC ticker on the Toronto Stock Exchange (TSX), could soon hold more than double its current AUM.

“Canada Bitcoin ETF BTCC traded $350m (CAD+USD) today, a 40% jump from yesterday (defying typical Day Two drop-off) and 3x more than any other ETF (unreal). Proportionally speaking, this is equivalent to about $5 billion in volume in the US (or about 7x more than GBTC). Two-day AUM is estimated at $330m.

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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:

Sec Treasury Janet Yellen states: “Bitcoin is extremely inefficient.” Give me a break. Does she think printing trillions of fake dollars is efficient? Does she not know the more fake dollars she prints the more efficient and valuable Bitcoin becomes? God bless her.

— therealkiyosaki (@theRealKiyosaki) February 22, 2021

#Bitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart).

We are now heading into a crushing inflationary period that will super charge BTC’s price to the stratosphere. pic.twitter.com/4FyO1xAz7D

— Max Keiser (@maxkeiser) February 23, 2021

As we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoin‘s price correction from its $58.3k #ATH. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet pic.twitter.com/CTgtJr27np

— Santiment (@santimentfeed) February 23, 2021

https://cointelegraph.com/news/5-64-billion-liquidated-in-24-hours-as-bitcoin-extends-losses-is-a-relief-rally-near

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Popular pseudonymous analyst Crypto Kaleo is predicting that Bitcoin and the stock market will go parabolic together before crashing in a blow-off top.

Kaleo says that rather than trying to call all of the minute BTC price action, he has his eye on a longer-term prediction that places Bitcoin up to 330% higher than current prices in a matter of months.

“I’m not sitting there stressing about every micro movement, I’m looking more zooming out for the macro price targets, and I still think BTC within the next six months, could go to $150,000 – $250,000.”

In other trending Bitcoin News today: Veteran Trader Tone Vays Says $100,000 BTC by End of Year Unlikely – Here’s His New Forecast!

Vays tells his 116,000 YouTube subscribers that while Bitcoin is unlikely to rise above a price of $100,000 in 2021, the target could be hit during the first three months of 2022.

“And while I still like for Bitcoin to break a $100,000 area by the end of the year, at the moment that is looking unlikely. But Q1 2022 is perfectly reasonable for that break of the $100,000 mark.”

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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://news.bitcoin.com/imf-warns-el-salvador-against-using-bitcoin-as-legal-tender-bitcoin-city/

https://cointelegraph.com/news/bitcoin-sees-fresh-split-second-spikes-as-analysts-say-almost-time-for-btc-uptick

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$1,000,000 – $2,000,000 Bitcoin Price Prediction

The director of business development at Kraken says he believes that the environment is ripe for Bitcoin (BTC) to begin a major long-term bull run.

In a new YouTube interview with Lark Davis, aka the Crypto Lark, Dan Held explains why he thinks Bitcoin’s time has come.

So far, Held argues, Bitcoin has managed to weather the worst of the coronavirus pandemic without the need for intervention.

“We’ve got a halvening. We’ve got a huge macro backdrop where banks are literally printing a million dollars a second, which happened a few weeks ago with the US, the Fed and the Treasury. And so, there couldn’t be a better moment for Bitcoin than now. I’ve waited eight years to see this.”

The crypto exchange executive says the industry as a whole has grown immensely over the years, citing the rise in the number of investors holding onto BTC as well as an increase in mainstream coverage from outlets like CNBC.

According to Held, the current macro backdrop is fuel for the world’s leading cryptocurrency, considering its limited total supply of 21 million units.

Optimistic about Bitcoin’s future, Held points to a contrarian argument that BTC could begin a “super cycle” and move far beyond even the most bullish predictions.

“We’re seeing a scenario where there’s a literal infinite amount of fiat that will be printed, and there’s only 21 million Bitcoin. It’s hard to predict, but long-term, maybe late 2021, is when a lot of the models predict what we might see in historical cycles. The classic models show us at $80,000 to $300,000 per Bitcoin. We could see that. We could see something a little crazier. I call this the Bitcoin super cycle.

We could see Bitcoin enter a super cycle where everyone’s seen that graph of Bitcoin’s price – that log price graph, and you get a little boom bust, boom bust, boom bust. But what if [BTC] went a level step up on a log chart?

If the world truly fears their money being devalued – every institution, every sovereign wealth fund, every central bank – if they all truly fear that, Bitcoin’s not going to stop at $100,000 or $300,000. It could go up to a million or two.”

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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:

Scorecard$ES +18% from 2405$CLK -18% from 25$BTC +10% from 6275$VIX -45% from 74

Stocks and bitcoin bottoms are in IMO. VIX short worked like a charm.

— Alex Krüger (@krugermacro) April 14, 2020

As of March 1st, about 42% of all BTC has not been moved on-chain (i.e. transacted) for at least two years. The amount of BTC untouched in more than two years has not eclipsed 42% since July, 2017.

Read more in this week’s State of the Network:https://t.co/w0HtMWyw57 pic.twitter.com/wRrZkkCRJw

— Nate Maddrey (@natemaddrey) March 3, 2020

Top Analyst on If the Crypto Market Bottomed on “Black Thursday”