THIS BITCOIN BULL MARKET IS ‘NOWHERE NEAR THE TOP’ SAYS BTC STOCK-TO-FLOW CREATOR – HERE’S WHY!!

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Bitcoin made history today breaking it’s previous all-time high, entering price discovery mode and surpassing $67,000 per BTC.

Co-founder of Fundstrat and Wall Street Strategist Tom Lee has revealed his expectations for Bitcoin before the year runs out. 

According to a Bloomberg report, Lee revealed that he had high expectations for the digital asset, which he believes would hit the $100,000 mark by the end of the year, and added that the asset could go as high as $168,000 before the year runs out.

In other trending Bitcoin News today: Bitcoin futures ETF debuts with highest ever first day ‘natural’ volume of $1B.

ProShares’ Bitcoin Strategy exchange-traded fund (BITO) saw the highest ever first day “natural” volume for an ETF, with the figure reaching a little over $1 billion by the end of the opening day.

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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://bit.ly/3aTaV9B

https://cointelegraph.com/news/bitcoin-futures-etf-debuts-with-highest-ever-first-day-natural-volume-of-1b

https://cointelegraph.com/news/senators-pressure-facebook-to-immediately-discontinue-novi-wallet-pilot

https://cointelegraph.com/news/bitcoin-sees-its-highest-ever-daily-close-as-btc-euro-pair-hits-all-time-highs

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In this exclusive interview, crypto analyst Philip Swift shares some live Bitcoin technical analysis which suggest we easily see a $100K+ BTC price next year.

“Into next year, probably Q3, Q4 I think we’ll be around $100K. Then as you’ve seen before we get these blow-off tops. Once price breaks above the red line I can easily see us heading up well above $100K, maybe the high $100K levels, so good times ahead.”    

Philip also shares some very bullish on-chain analysis charts as well as the ‘Golden Ratio Indicator’ which suggest a $22K-$24K Bitcoin price target in the weeks ahead. 

Show Notes / Resources:

🔥 Philip’s DecenTrader Software: https://decentrader.com/ 

🔥 Follow Philip on Twitter: https://twitter.com/PositiveCrypto

In other trending Bitcoin News today:

Not just Wall Street: Quant Trader Explains Why Bitcoin Price Is Going Up

Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the BTC price. 

The catalysts are increasing adoption, whales, inflows from other products into Bitcoin, and influence from other markets.

Alameda Research is a major cryptocurrency firm that trades a variety of cryptocurrencies and derivatives, with a volume between $600 million and $1.5 billion a day.

Throughout the past month, Cointelegraph has continued to report on the trend of whale accumulation.

Whale clusters form when whales buy Bitcoin and do not immediately sell. This typically indicates that whales bought BTC, sent them to their personal wallets, and have not moved their funds.

The accumulation of Bitcoin from whales possibly synergized with a profit-taking pullback in the altcoin market. Notably, when the decentralized finance market pulled back, Bitcoin continuously saw a significant rally.

Based on various trends and data points, Trabucco said the four abovementioned factors likely contributed to the Bitcoin rally over the past months. He wrote:

“So, first off, why ‘up’? There’s been a lot of discourse about this — some reasons for BTC to go up I’ve seen postulated include lots of institutional buying, increased adoption, ‘whales,’ outflows from faddish products back into BTC, influence from other markets, etc.”

Atop these factors, Cointelegraph reported that the Bitcoin exchange reserves are also declining at a rapid rate.

Bitcoin exchange reserves drop when investors increasingly pull their funds out of exchanges. Since investors often deposit cryptocurrencies to exchanges to sell, this trend suggests that there are fewer sellers in the market and a smaller available supply of BTC.

When positive fundamental and technical factors coincide with an overall drop in selling pressure, it could buoy the momentum around Bitcoin.

According to Trabucco, Joe Biden’s projected victory and the prospect of Moderna and Pfizer vaccines are both positive factors for Bitcoin.

The support for Bitcoin from various tech companies including PayPal, banks, politicians, high-net-worth investors and billionaires are all likely pushing up the BTC price, the trader argues. He wrote:

“My take would be: eh probably a combination. I do think that Biden’s victory and the vaccines were net good for e.g. SPY which has both short- and long-term correlation to BTC in the COVID era, which contributed. 

And there are also legit a lot of traditional companies / entities — banks, hedge funds, random rich people, thought leaders, tech companies, Wyoming senators, etc. — signaling support for BTC, which both directly (buying) and indirectly (sentiment) influences its price up.”

In the near term, the roadblock for Bitcoin remains the $18,500 resistance area. Above it, there is little resistance until a new all-time high, after which BTC would enter the uncharted waters of price discovery.

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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://cointelegraph.com/news/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up

➡️ “The Crypto Catch-Up” – Teeka Tiwari Live Event: Register here: http://teeka.cryptonewsalerts.net

The Winklevoss Twins, co-founders of the Gemini crypto exchange, recently stated that the Bitcoin price will hit $500K in the years ahead due to BTC having the potential to outpace gold:

“Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or BTC will outrun the scourge. And money stored in BTC will run the fastest, overtaking gold…

Nonetheless, we believe that BTC will continue to cannibalize gold and that this story will play out dramatically over the next decade. The rate of technological adoption is growing exponentially. Software is eating the world and gold is on the menu.”

Raoul Pal, CEO of Real Vision and a former hedge fund manager, also recently stated that Bitcoin could hit $1,000,000 in this market cycle.

He believes that institutional investment in the cryptocurrency will drive this rally.

Pal recently stated that he has over 60% of his net worth in Bitcoin or Ethereum, citing his belief that the cryptocurrency market may be the best trade of his lifetime. He added that he would not be surprised to see his personal allocation to Bitcoin increase toward 80% or even higher in this market cycle.

According to a macro analysis by crypto-asset trader Josh Rager, Bitcoin is on the verge of an exponential uptrend.

The trader shared the chart below, noting that every time “Bitcoin has closed above the previous monthly all-time high,” a 700-1,000 percent uptrend followed suit.

Bitcoin will likely do this once again if November closes above $14,000.

What could follow is a surge toward $100,000, or potentially even higher:

“Every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1000% uptrend has followed. November could be the first monthly close that we see breaking the previous high and historically that’s been a very bullish sign for the crypto market”

In other trending Bitcoin News today:

“Bitcoin Price Climbing to $20,000 and Volatility Spike in November Very Likely: Kraken Report”

Kraken released its August Bitcoin Volatility Report 2 months ago.

Then the cryptocurrency exchange sounded supremely confident about BTC registering higher highs as the year ends.

In its October version of the same report, Kraken has maintained its bullish stance.

November will see bitcoin log much higher price and volatility rallies.

Also, BTC might as well be on the way to reclaiming the previous all-time high of $20,000. In other breaking BTC news today:

“Iran Becomes First Country to Embrace Bitcoin as Medium of Exchange”

Max Keiser, host of the Keiser Report recently tweeted:

“Iran is winning Global Hash War. America is being left behind. Very little time left for US to get going otherwise US economy will get REKT”

The Central Bank of Iran (CBI) announced Thursday that it would be utilizing legally mined cryptocurrency to pay for imports. 

Bitcoin, which political dissidents in the United States and beyond have been using after being locked out of banking services, will be mined by

Iranians with subsidized electricity from three of the nation’s power plants.

They are the first nation to declare the currency an official medium of exchange. 

Iran is taking these measures due to aggressive attacks on its economy by the United States Treasury, which is controlled by Jewish investment bankers Steve Mnuchin and Justin Muzinich. 

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

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:

Iran is winning Global Hash War America is being left behind

Very little time left for US to get going otherwise US economy will get REKThttps://t.co/CPgTxiR1IJ

— Max Keiser (@maxkeiser) November 11, 2020

https://cryptopotato.com/bitcoin-price-climbing-to-20000-and-volatility-spike-in-november-very-likely-kraken-report/

Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k

https://national-justice.com/current-events/iran-becomes-first-country-embrace-bitcoin-medium-exchange

https://finance.yahoo.com/news/world-second-biggest-bank-issue-092348073.html

https://cointelegraph.com/news/bitcoin-price-reclaims-15-5k-after-whales-sell-the-most-btc-since-march