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One of the best buy indicators in Bitcoin flashed this week, suggesting the BTC price is primed to explode.
The Hash Ribbons Indicator created by Charles Edwards uses the thirty-day and sixty-day moving averages of the Bitcoin hash rate to determine when miner capitulation has occurred, and uses this to estimate local BTC bottoms.
Hash ribbons serve as such an effective and historically accurate buy indicator for bitcoin because it uses the changes in bitcoin hash rate to measure miner capitulation in the bitcoin market.
In other trending Bitcoin News today: $400 Billion Hedge Fund Neuberger Berman Approved to Receive Access to Bitcoin and Ethereum!
The $400 billion investment management firm, Neuberger Berman, recently announced adding exposure to BTC and Ether derivatives and investment vehicles as part of the firmâs fund strategy.
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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://bitcoinmagazine.com/markets/buy-indicator-shows-bitcoin-price-will-explode
https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution
https://cointelegraph.com/news/crypto-market-cap-returns-to-2t-for-the-first-time-since-may
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INVESTMENT FIRM PREDICTS BITCOIN TRILLION MARKET!! XRP WILL RISE 12,900% IN NEXT BTC BULL CYCLE!!
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An investment firm that predicted Teslaâs meteoric ascent is extremely bullish on Bitcoin and says the BTC market cap could go as high as $5 trillion.
Also in todayâs show, Credible Crypto predicts the Ripple XRP price will rise 12,900% in the next Bitcoin bull cycle.
In a comprehensive report, New York-based thematic investment firm ARK Invest sees massive growth potential for Bitcoin over the next few years despite its already impressive run that has defied expectations.Â
âOur analysis suggests Bitcoin is early on its path to monetization, with substantial appreciation potential. In our view, Bitcoinâs $200 billion market capitalization â or network value â will scale more than an order of magnitude to the trillions during the next decade.â
Specifically, ARK Invest points out that the adoption of Bitcoin as a global settlement network, as a protection against asset seizure, as digital gold, or as a catalyst for demonetization in emerging markets has the potential to fuel the growth of the crypto assetâs market cap.
Despite their high evaluation of the crypto asset, ARK Invest points out the several risks that threaten Bitcoinâs growth potential.
For one, ARK Invest says security breaches and institutional mismanagement have cost investors millions of dollars with no legal recourse.
Other risks are regulatory uncertainty and âover-institutionalizationâ, which the company says could cause a monopoly in Bitcoin transactions and present an âexistential risk to bitcoinâs value proposition.â
Although risks are present, ARK Invest highlights the potential of BTC to print massive gains within a decade.
âBitcoin offers one of the most compelling risk-reward profiles among assets, as our analysis suggests it should scale from roughly $200 billion today to $1-5 trillion network capitalization during the next five to ten years. In our view, capital allocators must consider the opportunity cost that will be associated with ignoring bitcoin as a new asset class.â
In other trending Bitcoin News today:
Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle
Closely-followed trader and crypto strategist Credible Crypto sees XRP meteorically rising by over 12,900% in the next Bitcoin boom cycle.
In a new tweet, the crypto analyst tells his 68,000 followers that Rippleâs native token has the potential to massively increase oneâs net worth in the coming years.
âKeep it real. XRP price IS NOT âpre-determined.â XRP IS NOT âbacked by gold.â XRP WILL NOT reach the prices BTC has ($10,000+). XRP will NOT replace the dollar. But it doesnât need to do ANY of these things to make you and me life-changing money over the next 3 years.â
When asked to provide his price prediction for the fourth-largest cryptocurrency, Credible explains why he believes XRP can skyrocket between $20 â $30 before the current bull market expires.
ââŠitâs gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their XRP for other projects. The ones holding now wonât sell soon.â
Not all analysts share Credibleâs long-term bullish attitude towards XRP. Widely-followed veteran trader Peter Brandt told his crew of 375,000 to be cautious about investing in Rippleâs native asset.
âDonât place your faith in XRP.â
Brand notes that Rippleâs ownership of more than half of the total supply of XRP is a potential liability.
He believes the token has more downside potential as it continues to underperform relative to other major cap coins.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Keep it real.$XRP price IS NOT âpre-determined.â $XRP IS NOT âbacked by goldâ. $XRP WILL NOT reach the prices $BTC has ($10,000+).$XRP will NOT replace the dollar.
But it doesnât need to do ANY of these things to make you and me life changing money over the next 3 years.
â Credible Crypto (@CredibleCrypto) October 2, 2020
It wonât need as much as it seems it would. Many people think the same. But itâs gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their $XRP for other projects. The ones holding now wonât sell soon. https://t.co/jelsS4rTdc
â Credible Crypto (@CredibleCrypto) October 2, 2020
Don’t know about the long long term, but looking for $20-$30 over the course of this next bull run (2-3 years).
â Credible Crypto (@CredibleCrypto) October 2, 2020
Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle
https://cointelegraph.com/news/trump-price-dots-and-covid-19-5-things-to-watch-in-bitcoin-this-week
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MAX KEISER SAYS BITCOIN SUPERCYCLE IS JUST BEGINNING AND WILL SUPER CHARGE BTC TO THE STRATOSPHERE!!
đ° BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
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:
âBitcoin has been rising 200% per annum for 10 years during a time of historic low inflation-expectation (see chart). Â
We are now heading into a crushing inflationary period that will super charge BTCâs price to the stratosphere.
Incredibly bullish for Bitcoin. The BTC super cycle is just beginning!â
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:
âAs we noted yesterday, there was an 11x exchange inflow spike that initiated #Bitcoinâs 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, itâs 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.â
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 Intelligenceâs 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.
âCanada 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: âBitcoin is extremely inefficient.â 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.
â 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 BTCâs price to the stratosphere. pic.twitter.com/4FyO1xAz7D
â 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
â Santiment (@santimentfeed) February 23, 2021
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JACK DORSEY: Twitter Developing Decentralized Standard for Social Media | Bitcoin Price 7-Month Low?
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http://trade.cryptonewsalerts.netJack Dorsey, Twitter CEO and founder of payments operator Square, has revealed that Twitter is funding a dedicated team to develop a decentralized standard for social media.
In a series of tweets on Dec. 11th, Dorsey set forth a number of challenges social media networks face in their operations.
These include the shift away from content hosting and removal to recommendation algorithms directing usersâ attention, and content that sparks controversy and outrage rather than healthy and informative conversations.
In other Crypto news today:
The Bitcoin price is headed to 7-month low if $7,000 support fails. For the past few days, the BTC price has ranged between $7,400 to $7,100 and it seems bears are keen to push the Bitcoin (BTC) price back below $7,000 before this week closes.
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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:
Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media. The goal is for Twitter to ultimately be a client of this standard. đ§”
â jack đđđ (@jack) December 11, 2019
https://cointelegraph.com/news/why-bitcoin-price-is-headed-to-7-month-low-if-7k-support-fails
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