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Bitcoin whales are the center of attention this week as buying and selling habits split the BTC price narrative.
New findings from on-chain analytics firm CryptoQuant show derivatives investors leading the way when it comes to bullish bets on Bitcoin.
“I think BTC is ready. Suddenly all of my favorite leading indicators are lining up long & strong.”
This is a 30 day WMA. Strong bullish trends in the metric have preceded every strong bullish price trend of this bull. And it just printed monster bull move.”
In other trending Bitcoin News today: Bitcoin To Flip Bullish Under One Key Circumstance, According to On-Chain Analyst Will Clemente!
“Bitcoin is below the short-term holder cost basis, which currently sits at $53,000. Until this is reclaimed, not bullish. Not saying I am a ‘giga bear,’ just cautious until the market shows me otherwise. Happy to flip bullish if reclaimed. Bearish confirmation would be a failed underside retest of the band.”
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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://cointelegraph.com/news/only-10-of-bitcoin-supply-left-to-mine
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INVESTMENT GIANT THE MOTLEY FOOL PREDICTS $500K BITCOIN TARGET AND ADDING BTC TO ITS BALANCE SHEET!!
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Financial and investment advisory giant The Motley Fool has announced it will invest $5 million into Bitcoin (BTC) with the expectation that it will rise to $500,000.
Announced earlier today via a blog and Twitter post, the firm stated it won’t be “buying overpriced ETFs” but will be “buying Bitcoin directly.” Currently ranked fifth globally in the investing category, according to SimilarWeb, and with 87 million website visits per month, The Motley Fool outlined three core reasons behind the purchase: Bitcoin is a better store of value than gold, it’s an effective hedge against inflation and it has the potential to become a transactional asset.
The firm will be investing in Bitcoin through its 10X real-money portfolio as one of 40 assets that it predicts will provide a 1,000% return over the next 15 years. The firm has recommended the digital asset as a core holding to all its 10X members and has provided time for them to purchase BTC before The Motley Fool initiates its own purchase. It added that in the coming weeks the company “will also be separately buying $5 million in Bitcoin on our own balance sheet.”
Due to the long-term commitment, the announcement explains that volatility is of little concern.
“While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today’s levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years.”
Should the company’s prediction prove true, it will see Bitcoin passing $500,000 within the next 15 years. The Motley Fool says it has a solid track record with its investments.
The Motley Fool has so far named 10 of the 40 investment picks for the 10X portfolio, with the others being cloud computing company Appian Corporation, Swiss biotech firm CRISPR Therapeutics, cybersecurity firm CrowdStrike, e-commerce platform Etsy, genetic testing platform Fulgent, insurer Lemondate, social media platform Pinterest, mobile gaming platform Skillz and video communication firm Zoom. It is worth noting that many of these stocks have already been recommended in the firm’s other, more basic investment services.
The advisory firm has been aware of cryptocurrencies for years now, with a 2017 analysis suggesting that Bitcoin’s biggest competitor was not Ethereum but Litecoin.
In other trending Bitcoin News today:
‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level
Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000.
According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other.
Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February.
“The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch up and indicators to reset,” they wrote in a tweet on Feb. 17.
“Looks like $48k is the new $35k now.”
The buoyant perspective adds fuel to the bulls hoping that $50,000, a level Bitcoin took for the first time this week, will form a solid foundation without a major correction.
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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:
We’ve got BIG NEWS! We’re buying $5 million in Bitcoin on our own balance sheet.
That’s right. $5 million.
— The Motley Fool (@themotleyfool) February 17, 2021
I’m raising my short term #BTC price target from $65K to $77K based on growing supply-shock issues – as coins are removed from exchanges
My 2021 target of $220,000 remains pic.twitter.com/y1SKIYQW53
— Max Keiser (@maxkeiser) February 17, 2021
$250k by end of 2022. Just 5X from here. Looking a lot more likely than when I made the initial prediction three years ago, eh? #Bitcoin
— Tim Draper (@TimDraper) February 17, 2021
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Top Crypto Strategist Predicts Bitcoin Will Surpass K in Just Two Months | BTC Will Shatter 0K
➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net
Crypto analyst Nicholas Merten says Bitcoin may be only a couple of months away from surpassing its all-time high BTC price of $20,000.
On a new episode of DataDash, Merten looks at the boom and bust cycles of Bitcoin and says it is well-positioned to begin a parabolic rally.
“There’s a really interesting similarity that I’m seeing here when I take a look at the monthly chart of Bitcoin and the sense that has given me confidence that we’re just a couple of months away from getting back above $20,000.
The first thing I want to focus on is the longer-term chart, the expanding cycles. We talked about this: about how each new cycle usually expands by around 11 to 13 months.
In this case, we added 12 months for the previous one just to keep it neutral and we’re expecting sometime in November 2022 to be the peak around $100,000.”
The crypto strategist says that his $100,000 BTC prediction is conservative, especially in comparison to other analysts who forecast Bitcoin surging as high $500,000.
Once BTC begins printing new highs, Merten believes a rising tide will lift all boats and spark a new altcoin season.
The analyst says that the Bitcoin dominance chart is already flashing signals that are similar to the 2015 – 2017 altcoin bull market.
“I think this historical similarity is a good sign that we could be in an early stage of an altcoin cycle coming up here very soon. And not to mention, during this time period, even though the broader altcoin space hasn’t really kicked off yet, we have got from 72% to 66% for market dominance for Bitcoin.
That’s gains for the altcoin space in general… If you are in the right place here even in these early moves, you can benefit quite greatly if you start to make the right calls.”
Merten believes that the new altcoin spring will be spearheaded by Ethereum.
He says the second-largest cryptocurrency is primed to erupt in a few months. “What we want to look for is an eventual breakout above this wedge and a continuation of higher lows and higher highs.
It looks like we’re formulating for that sometime around in the fall to the winter of 2020, lining up pretty close to our general estimations from what we can tell about altcoin dominance as well as Bitcoin.”
In other trending Bitcoin News today:
New Bitcoin Model Predicts BTC Will Shatter $100,000 Without Stock-to-Flow – Here’s How
A new Bitcoin price model sweeping across the cryptoverse predicts BTC will hit $100,000 – without relying on the popular yet controversial stock-to-flow (S2F) model.
In a tweetstorm, analyst Croesus says that PlanB’s S2F model, which forecasts BTC’s rise to $100,000 by 2021, has a lot of naysayers because it predicts Bitcoin rising dramatically in a relatively short period of time.
But Croesus points out that critics of the model fail to take into account the exponential increase that comes with the adoption of new technology, whether it is social media or Bitcoin.
The pseudonymous analyst assumes that Bitcoin has a total addressable market of 2.2 billion users based on the number of individuals in the world with a net worth of at least $10,000.
Croesus says that Bitcoin has a current market penetration of 10 million users based on the number of addresses holding less than $1,000 worth of BTC and including balances in crypto exchanges as well as ownership of Bitcoin derivatives.
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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.
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MAX KEISER SAYS SEVERE BITCOIN SHORTAGES CAN TRIGGER A GAP BETWEEN K AND 0K TO OVERTHROW FIAT!
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Bitcoin pioneer Max Keiser, RT host of the Keiser Report went on an epic Twitter rant about BTC having enough interest right now to overthrow government, fiat currency and the central banking system.
“We have enough interest in Bitcoin now to overthrow fiat and central banks. We don’t need any new Bitcoiners. If you’re not aboard, there’s still time, but not much. Severe shortages are developing and we may see a gap between $20,000 and $200,000 before any liquidity again.”
“I spent ten years educating people about Bitcoin. Now it’s time to pull up the drawbridge ($20,000) and overthrow fiat money and central bankers and watch panic-buying by HNWI gap the price to $200,000.”
“Bitcoiners should avoid regulators. They are poison. Just focus on getting large funds and HNWI to panic-buy BTC to trigger a gap to $200,000, then we can overthrow government as well as fiat money and central bankers. (Yellen combining Treas. Dept. with Fed makes it easier).”
In other trending Bitcoin News today:
On-Chain Analyst Says Bitcoin Hodlers Are Only Getting Stronger
According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could achieve a “conservative” target of $200,000 in 2021. The prediction revolves around the fact that long-time investors seem more confident in the recent rally.
There are two key data points that suggest Bitcoin’s ongoing rally could explode higher. First, “HODLers,” or long-time BTC holders, aren’t moving their funds for longer than in previous rallies. Second, BTC held on exchanges continues to decrease, which reduces selling pressure.
The re-accumulation of Bitcoin has remained a consistently bullish trend throughout 2020. It has continuously decreased the selling pressure on BTC, allowing a more stable rally without major 30%-40% corrections as frequently seen in 2017.
Woo noted that he is bullish for 2021 because Bitcoin’s re-accumulation phase means the amount of BTC that could be sold is much lower compared to the previous bull cycle. He said:
“I’ve never been so bullish for 2021. This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.”
Atop the declining Bitcoin reserve on exchanges, Woo found that HODLers are “holding stronger.” In 2017, the amount of gain per the amount of capital invested in Bitcoin hovered at around $0.25. This figure increased to $0.35 in 2020, which means more investors expect event bigger profits in the future.
Based on the combination of the two optimistic on-chain trends, Woo said that Bitcoin could achieve a “conservative price” of $200,000 by the end of 2021. He explained:
“My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question. The current market on average paid $7456 for their coins. You all are geniuses.”
As reported in May, Bitcoin HODL wave data also supports the argument the HODLers from the 2017-2018 bull cycle aren’t selling at these relatively high prices, including high-net worth individuals or “whales.”
However, this data also suggests that some earlier HODLers from three to seven years ago are taking profit after a prolonged BTC rally, heightening the chances of a correction in the short term.
Willy Woo has been calling for an extended Bitcoin bull run since March 2020.
On Mar. 4, Woo told Max Keiser, the host of RT’s Keiser Report, that Bitcoin could hit $135,000 in the bull run. He said at the time:
“You go could 35 times the cumulative average of the price — and that’s actually picked every single top in the ten-year history of Bitcoin — right now that’s sitting above $50,000, but it keeps climbing the longer it runs for.”
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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:
We have enough interest in #Bitcoin now to overthrow fiat and central banks. We don’t need any new Bitcoiners. If you’re not aboard, there’s still time, but not much.
Severe shortages are developing and we may see a gap between $20,000 and $200,000 before any liquidity again.
— Max Keiser (@maxkeiser) December 5, 2020
#bitcoin and central bank balance sheets (money ‘printing’) have gone hand in hand last 10 years .. but now BTC is lagging behind .. about two orders of magnitude (100X). Room for growth? pic.twitter.com/zAXN93qlTJ
— PlanB (@100trillionUSD) December 6, 2020
Views on 2021 (THREAD):My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.
The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b
— Willy Woo (@woonomic) December 1, 2020
https://cointelegraph.com/news/3-key-metrics-to-watch-as-bitcoin-price-tries-to-top-20-000
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