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CryptoQuant CEO Ki Young Ju is naming one catalyst that he says could send the Bitcoin price into the stratosphere.
“NYSE (New York Stock Exchange) listed the first gold ETF in Nov 2004, and the price never came back. Many economic factors have affected the gold price, but listing ETF would have played a major role in the inflow of global institutional funds. We may never see this BTC price again once ETF’s approved.”
In other trending Bitcoin News today: 3 Reasons Why Bitcoin Doesn’t Care About Elon Musk! Tempers are running hot in the latest round of Bitcoin FUD, but a longer-term perspective reveals “business as usual” for BTC. Bitcoin dived 17% when Tesla CEO Elon Musk criticized its energy consumption – but it’s already bouncing back.
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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/3-reasons-why-bitcoin-doesn-t-care-about-elon-musk
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Bitcoin’s Potential Surge: Fractal Analysis Points to $320K by May, Plus 5 Major Crypto Predictions for 2022
The world of cryptocurrency is once again buzzing with excitement as a Bitcoin fractal analysis suggests a staggering price target of $320,000 by May. This bold prediction is just one among several major forecasts outlined in the article, offering a glimpse into what 2022 might have in store for Bitcoin and the broader crypto market.
The heart of the discussion revolves around the intriguing concept of fractal analysis applied to Bitcoin’s price movements. By identifying patterns in historical price charts and extrapolating them into the future, analysts propose a potential trajectory that could see Bitcoin reaching an impressive $320,000 by May. The crypto community is keenly watching to see if this fractal unfolds as predicted, adding a layer of anticipation to the evolving narrative of Bitcoin’s price journey.
The article doesn’t stop at the $320,000 forecast; it delves into five major predictions for the broader cryptocurrency space in 2022. These forecasts may shape the landscape of digital assets and influence investor sentiment in the coming months. As with any predictions, it’s important for market participants to approach them with a balanced perspective, considering the dynamic nature of the crypto market.
For investors navigating the cryptocurrency landscape, the predictions outlined in the article provide valuable insights into potential trends and developments. From regulatory shifts to technological advancements, these factors can significantly impact the market, and staying informed is crucial for making informed decisions.
As the crypto community gears up for the unfolding year, the prospect of Bitcoin reaching $320,000 and the other predictions outlined in the article contribute to the ongoing dialogue about the future of digital currencies. Whether these projections materialize or introduce unexpected twists to the narrative, the cryptocurrency landscape is sure to be dynamic and full of surprises.
Investors are encouraged to exercise caution, conduct thorough research, and consider a diverse range of factors when navigating the crypto market. The coming months will undoubtedly reveal the extent to which these predictions align with market realities and whether 2022 will indeed be a transformative year for Bitcoin and the broader cryptocurrency ecosystem. As the crypto saga continues, buckle up for a potentially thrilling ride in the world of digital assets.
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BITCOIN (BTC) SCALES JUST FINE AS STORE OF VALUE!! MICROSTRATEGY DECLARES WAR ON THE FED: MAX KEISER
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Bitcoin Bull Max Keiser Believes Shareholders Will Demand Corporations to Grab BTC Following Microstrategy’s $425M Acquisition.
Keiser stated that now shareholders of other big companies and corporations are going to demand to convert their cash reserves into Bitcoin as Tahini’s pro-Bitcoin restaurant chain has already begun to do.
The Nasdaq-traded business software producer Microstrategy amazed the crypto community by placing more if its cash into Bitcoin.
Back then, its CEO Michael Saylor tweeted that the company had acquired 16,796 Bitcoin for $175,000,000.
That was the second purchase of BTC by this company.
The first acquisition took place on Aug. 11, when Microstrategy acquired 21,454 BTC for a whopping $250,000,000, making headlines in crypto and mainstream media.
Bitcoin proponent Max Keiser tweeted that now shareholders will demand that corporations start acquiring Bitcoin with their spare cash.
$MSTR declares war on the Fed, Who will join them? *Every* CFO/CEO, per statues of corporate governance, is now obligated to examine their own “melting ice cube” Shareholders will now *DEMAND* they deploy idle cash to Bitcoin. Michael Saylor is a board room revolutionary”
He was, in fact, commenting on a tweet thread posted by the Canadian restaurant chain Tahini’s, which has recently converted all of its cash reserves to Bitcoin.
On Aug. 19, the Tahini’s franchise acquired BTC using all of its spare cash reserves down to the last dollar.
The CEO Omar Hamam tweeted that, despite difficulties after the lockdown and many of his staffers deciding not to go back to work (as they received stimulus checks), he decided that the stimulus cash he received from the government would no longer be a secure investment.
So he started educating himself on blockchain and Bitcoin and then decided to convert all of his company’s cash reserves in BTC.
In other trending Bitcoin News today:
MicroStrategy CEO Says ‘Bitcoin Scales Just Fine As Store Of Value’
Bitcoin (BTC) as a store of value “scales just fine,” the CEO of the company that just purchased 38,250 BTC has said.
In a tweet on Sep. 17, Michael Saylor revealed more information about MicroStrategy’s dramatic launch into Bitcoin.
“We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions. Bitcoin scales just fine as a store of value.”
Continuing, Saylor described a status quo where on-chain transactions for major investors will remain a rarity:
“If Bitcoin is treated as a treasury reserve asset, based on our model, 99.98% of all transactions will be off-chain, and assets-at-risk will be in cold storage 99.92% of the time.”
Off-chain transactions via solutions such as the Lightning Network allow Bitcoin transaction volume to increase without adding volume to the blockchain and raising fees to appeal to miners.
In his popular book, The Bitcoin Standard, Saifedean Ammous likewise argues that off-chain activity will become the norm once Bitcoin gains a much larger user base.
That could happen sooner rather than later.
Following the Pompliano interview, statistician Willy Woo picked up on Saylor highlighting the world’s 35,000 publicly traded companies that have spare cash reserves of $5 trillion.
“I make out if others follow MicroStrategy’s lead and even just 1% of that capital finds its way into BTC, that’s enough to blow Bitcoin cap to $2T,” he tweeted.
Woo added that given MicroStrategy took six months to approve its shift to Bitcoin, any copycat moves would begin to surface in 2021.
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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:
Some takeaways from @APompliano‘s interview with @michael_saylor, CEO of MicroStrategy, after their 38,250 BTC buy ($425m).Plot goes: “I’m a good thinker and a large financial player, this what I found researching Bitcoin coming from outside of the industry”Read on…
👇
— Willy Woo (@woonomic) September 18, 2020
Why did $425M MSTR buy not move #bitcoin price up? Because they bought carefully, thousands of small incognito algo orders over a period of weeks. Key thing: $425M is transferred from weak hands (shitcoiners, traders, noobs) to strong hands (hodl): reducing future sell pressure🚀 pic.twitter.com/bBJsAFj6iy
— PlanB (@100trillionUSD) September 17, 2020
What are the odds … that other cash-rich companies like Google, Apple, Microsoft will not get serious questions about #bitcoin at the next shareholder meeting, or even get sued for breaching their fiduciary obligation for not buying bitcoin and letting all that cash melt away? pic.twitter.com/QY1C0NbMjG
— PlanB (@100trillionUSD) September 17, 2020
Technicals Suggest Bitcoin Looks Ready For Another Leg Higher Over $11K
https://cointelegraph.com/news/microstrategy-ceo-says-bitcoin-scales-just-fine-as-store-of-value
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Decoupling? Bitcoin Price Surges Above .7K as Stocks Again Bearish | BTC Massive Buy Order Influx
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Since BTC topping out at $6,500 on March 31, the Bitcoin price had spent the majority of Wednesday in a steady slump which saw the price drop from $6,494 to $6,147.
The pullback mirrored the poor performance in traditional markets where the S&P 500 and Dow dropped by 4.41% and 4.44% respectively.
The slump in traditional markets appeared to be a reaction to dismal news that the United States surpassed more than 200,000 Coronavirus cases.
Earlier this week the White House also stated that it concurs with the estimate that up to 240,000 Americans could die from COVID-19 within the next 3 weeks.
If true, this would likely extend the time social distancing and mass quarantine policies stay in effect, leading to additional damage to the economy.
As advised by many market analysts, global markets are unlikely to show signs of bottoming until the Coronavirus pandemic is brought under control.
Surprisingly, shortly after equities markets closed BTC price broke from the pattern of lower highs with a sharp upside move which pushed the price to $6,744.
The move came as the Bitcoin price was on the verge of falling below the $6,200 support to complete the right shoulder of a rather sloppy head and shoulders pattern on the 4-hour time frame.
Had that occurred, traders would be looking at a target near $5,150 so for bulls the current surge above the $6,600 resistance level is probably a welcome relief.
The push through the $6,250-$6,450 range brought Bitcoin (BTC) above the $6,600 resistance and even though the price pulled back, traders are fighting to turn this level to support.
Once above $6,600 traders will target $6,725 and $6,900.
On the daily timeframe, the volume profile visible range shows that above $6,900, the $7,100 to $7,200 zone could present stiff resistance.
For the short term, holding $6,600 as support then setting a higher high above $6,900 would be a positive step forward.
Could Stablecoin Holdings Tip the Scale in BTC Bull’s Favor?
One factor that could bolster bulls eventually is the fact that the Stablecoin Supply Ratio is currently nearing an all-time low, showing that the current stablecoin supply has significant buying power and could bolster BTC.
“Stablecoin Supply Ratio (SSR) is near its ATL. Low SSR means the current stablecoin supply has strong buying power to purchase BTC and push the price up. USDT (ERC20) exchange balances at an ATH indicates that those coins are waiting on the sidelines,” Glassnode noted in a recent tweet.
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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:
This Indicator Shows Bitcoin May Soon See a Massive Influx of Buy Orders
https://cointelegraph.com/news/us-stimulus-package-might-cause-modest-improvement-to-bitcoin-market
https://cointelegraph.com/news/decoupling-bitcoin-price-surges-above-67k-as-stocks-again-bearish
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