THIS BITCOIN BUY INDICATOR SHOWS THE BTC PRICE IS READY TO EXPLODE!!!!!

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Digital Asset Manager Grayscale says current investment patterns in Bitcoin mirror trends present in early 2016, when BTC kicked off an astronomical 4,400% rally to its all-time high in less than two years.

Phil Bonello, Grayscale’s director of research, reports that there is a growing number of investors holding on to their Bitcoin.

In Grayscale’s Holder vs. Speculator Index, the percentage of holder coins – BTC that have not moved in one to three years – is on the up and up. Meanwhile, the percentage of speculator coins – BTC that have moved in the last 90 days – is on a decline, much like in 2016.

According to Bonello, an increase in holder coins is a potential bullish indicator, while an increase in speculator coins looks bearish. 

Bonello also notes that there has never been a higher level of Bitcoin held for more than one year.

“This metric indicates a strong conviction in Bitcoin by its current investor base. While this is a supply-side metric, it also demonstrates the demand for Bitcoin’s use case as a store of value – rather than trading, it appears investors are interested in holding Bitcoin despite its volatility…

This report is intended to help investors visualize why Bitcoin may be more important than ever; we explore Bitcoin’s value indicators, delineate its substantial supply/demand imbalance, and extrapolate how these factors may create a tailwind for Bitcoin’s adoption and price. This analysis indicates that the current Bitcoin market structure parallels that of early 2016 before it began its historic bull run.”

The researcher does caution that significant off-chain activity may decrease the efficacy of these metrics.

Bitcoin’s price in January 2016 stood at about $434.

In less than 24 months, the king crypto went on to skyrocket over 4,431%, en route to its all-time-high of $19,665, according to CoinGecko.

In other trending Bitcoin News today:

New Crypto Asset Could Be Next DeFi Unicorn to Explode, Says Bitcoin Analyst Nicholas Merten

DataDash founder and Bitcoin analyst Nicholas Merten says a new crypto asset is poised to become the next decentralized finance (DeFi) unicorn to erupt.

Merten says he’s betting big on Ampleforth (AMPL) as he believes the coin is relatively undervalued.

The crypto strategist highlights that AMPL has already gone through close to an 80% correction in terms of market capitalization.

Merten says the pullback has put AMPL in a position to restart its bull cycle as the DeFi asset is flashing bullish signals.

Based on Merten’s chart, the coin’s market cap can explode over 430% in the coming months.

Ampleforth bills itself as an “adaptive base-money.” 

According to Merten, the number of AMPL in circulation adjusts based on demand.

“The balance of Ample can increase or decrease and it uses a very similar kind of mechanism some might be familiar with in regards to DAI… In this case, as price goes up, they increase the overall supply in the network and along with that as well, when you see a decrease in price, in this case, the overall supply decreases as well. It’s supposed to provide [the] pressure of limiting the supply on the market and vice-versa.

When price goes up, you have more coins in the market. People are actually, as they’re holding it, not only is price going up, maybe above the peg but along with that, they’re getting extra coins. In this case, there’s a pressure to sell.”  

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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:

If you put $1.25M into $BTC today you could literally have $70M in three yearsIt’s a mathematical fact, don’t question it The 6 figures / day you make in the stonk market will seem irrelevant

also the magnet is there for more than just a cosmetic affect pic.twitter.com/ZQ9c0Y6o0N

— RookieXBT 🧲 (@RookieXBT) August 22, 2020

Just to clarify I put in 1.25 million and lost 20k. My money was just better at work in the real stock market where I make 6 figs everyday. https://t.co/5v7Jg2SZYo

— Dave Portnoy (@stoolpresidente) August 22, 2020

https://grayscale.co/wp-content/uploads/2020/08/Grayscale_Valuing_Bitcoin.pdf

https://dailyhodl.com/2020/08/22/new-crypto-asset-could-be-next-defi-unicorn-to-explode-says-bitcoin-analyst-nicholas-merten/

https://dailyhodl.com/2020/08/22/bitcoin-patterns-mirror-early-days-of-epic-4431-rally-began-according-to-digital-asset-manager-grayscale/

➡️ REPLAY – TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net

Bitcoin (BTC) price dropped from $10,000 to $8,100 within just over a day, as it plunged by 9% in a single hour.

It liquidated $200 million worth of longs, obliterating the futures market.

The three key reasons that triggered the immense Bitcoin correction were: strong multi-year resistance area above $10,000, whales moving to short the market on BitMEX, and extreme volatility heading into the Bitcoin Halving.

REASON #1: $10,200 to $10,500 is a multi-year strong resistance area for Bitcoin

Since mid-2018, the $10,200 to $10,500 range served as a historically strong area of resistance for the top-ranking cryptocurrency by market capitalization.

After its first breakout above $10,500 in June 2019, which led to a swift run to $14,000, Bitcoin failed to move above that level five out of six times in the last two years.

When the Bitcoin price initially broke down at $10,100 on May 8, it signaled the rejection of a key resistance level and left BTC vulnerable to a steep correction.

As whales started to sell at $9,900, it led to a cascade of long contract liquidations primarily on BitMEX and Binance Futures.

In one hour, more than $200 million worth of longs were liquidated.

REASON #2: Whales quickly moved to sell BTC at the point of rejection

Almost as soon as the rejection of $10,200 was confirmed, whales started to fiercely short Bitcoin across major cryptocurrency exchanges.

The open interest on the big four derivatives exchanges that include Binance Futures, BitMEX, Deribit, and OKEx plunged.

The term open interest refers to the total amount of long and short contracts open at a given time.

The rapid decline in open interest meant that as selling pressure began to build up, it caused over-leveraged buyers in the futures market to get trapped in their positions.

REASON #3: Massive volatility ahead of halving

Ahead of the Bitcoin block reward halving set to occur on May 12, trading activity on all major cryptocurrency platforms surged significantly.

CME saw record-high open interest, Deribit recorded all-time high volume for its options contracts, and spot exchanges demonstrated 2017-esque volume in the last three weeks.

When many new investors enter the market in anticipation of a major event, it opens the market up for a steep selloff.

For instance, after the 2016 block reward halving, the Bitcoin price dropped by more than 30%, as traders reacted with a sell-the-news response.

A confluence of an over-extended Bitcoin rally to $10,000, whales front-running retail investors with a sharp sell-off at $9,900, and high anticipation for the halving are triggering a near-term pullback prior to the May 12 Bitcoin halving.

In other trending Bitcoin News today:

Bitcoin Can Stay Bullish After 15% Retracement as Long as This Crucial Level Holds

It may seem like all hope is lost for bulls, yet one top trader recently shared that this isn’t the case.

Bitcoin holding $8,530 in the next 24 hours, a trader argued, will confirm a sweep of liquidity at a “pivotal level.”

Should Sunday’s candle close above this level, it would confirm that a bullish market structure remains somewhat intact.

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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:

$BTC Lots riding on the next 24 hours. Want to see 12H, followed by the daily, close above $8530 to confirm a sweep into pivotal level. Close below and we have our first significant HTF break in MS to the downside since the bottom.

Happy Halving, call your mom. #Bitcoin pic.twitter.com/6pnt1uA52m

— HornHairs 🌊 (@CryptoHornHairs) May 10, 2020

https://cointelegraph.com/news/3-reasons-for-the-bitcoin-price-halving-dump-from-10k-to-81k

https://bitcoinblockhalf.com/

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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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