TIM DRAPER: Bitcoin (BTC) Is A Superior Currency That Frees People!

💰 Crypto’s Next $1 Trillion Coin: http://teeka.cryptonewsalerts.net

With Coinbase’s highly anticipated direct listing IPO expected to take place next month, options traders appear to be betting that the Bitcoin price will once again soar to new all-time highs in the coming weeks.

On March 24, the founders of crypto analytics firm Glassnode tweeted data suggesting that options traders on peer-to-peer crypto derivatives exchange, Deribit, are loading up on contracts set to expire on April 30 with a BTC strike price of $80,000.

Contracts worth a notional value of 4,000 Bitcoin have been purchased targeting the price-point in total, more than any other strike-price by at least 50%.

Should the price be less than $80,000 at the end of April, the contracts will expire worthless, indicating high conviction that the Bitcoin markets are still a long way from topping out among derivatives traders.

However, according to crypto derivatives data aggregator Skew, probability estimates based on market data for the April 30 contract suggests there is just a 6.19% chance of BTC prices being above $80,000 when the positions mature.

Significant volume has also converged around the contracts with a strike price of $120,000, meaning some traders believe the Bitcoin price will more than double over the next five weeks. Skew estimates it is only 2.15% likely Bitcoin will reach $100,000 by the April 30 expiry date. 

However, with many options traders building positions across multiple contracts bearing divergent strike prices, some of the traders betting on $80,000 or $120,000 may not expect prices to get that high.

Skew’s data shows that contracts for April 30 are currently the third-most-popular among options traders, with open interest currently equating to a notional value of 38,700 BTC.

June 21 contracts rank second with 42,300 BTC worth of notional open interest, while 117,900 BTC worth of contracts or $6 billion in notional value is set to expire on March 26.

In other trending Bitcoin News today:

Here’s When Bitcoin’s Bull Run May Expire, According to One of China’s Biggest Crypto Miners

The CEO of one of China’s largest Bitcoin mining companies says his firm is using a variety of models to try and pinpoint when Bitcoin’s current bull market cycle will end, and how high the top cryptocurrency will rise.

Jiang Zhuoer asserts that Bitcoin has not nearly reached levels of attention it garnered during the 2017 bull run.

According to Google Trends, Bitcoin hit its peak search rate in January of this cycle and was still roughly 40% off its 2017 google trend top.

The BTC.TOP CEO tells Wu Blockchain that according to both of his BTC bull cycle predictions, the king coin is far from its top.

Zhuoer’s representative tells CoinDesk that the chief executive believes Bitcoin will hit $150,00-$300,000 during this bull market.

Other Chinese blockchain companies have predicted that the cycle may top out this fall, unless a large number of institutions follow Meitu, Tesla and MicroStrategy’s lead and publicly adopt the flagship currency.

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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:

Jiang Zhuoer, one of China’s big miners, told WuBlockchain that according to the latest multiple model studies, the fastest will be September 2021 and the slowest June 2022 will turn from a bull to a bear market. pic.twitter.com/g72wgYnYnu

— Wu Blockchain (@WuBlockchain) March 21, 2021

#Bitcoin is attacking fiat money on two fronts: – It’s perfect-money attributes are draining investment out of fiat

– It’s insatiable appetite for energy is starving fiat out of existence pic.twitter.com/SnyiV2ltz5

— Max Keiser (@maxkeiser) March 25, 2021

https://cointelegraph.com/news/options-traders-target-80k-by-may-skew-suggests-just-6-chance-they-re-right

https://cointelegraph.com/news/bitcoin-no-longer-a-fringe-asset-due-to-us-dollar-debasement-says-soros-fund-exec

➡️ Leverage OPM (Other People’s Money): http://100.cryptonewsalerts.net

People with zero Bitcoin exposure like Warren Buffett will see their wealth hyperinflate to nothing while the BTC price skyrockets 40-80x, says Max Keiser.

Popular TV host and long-time Bitcoin proponent Max Keiser believes that futures traders suppress the Bitcoin price at current levels.

However, once the asset explodes to Keiser’s intermediate target at $28,000, the BTC amount for sale will evaporate as governments and institutions will purchase directly from miners.

Keiser recently tweeted that “the (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000.”

CryptoPotato reached out to the popular TV host to elaborate on his views regarding the price suppression and potential surge in value.

Keiser asserted that “for the world’s poor, the current price and availability of BTC are a once in a species-existent opportunity to acquire unconfiscatable Hard Money before a 40-80x move on the upside.”

He commented that his “forensic analysis of the BTC market, corroborated by insiders, is indicating futures traders are suppressing the price of BTC to give institutional players a chance to load the boat.”

He also gave his intermediate price target of $28,000 per coin. Once the cryptocurrency reaches that level, it would be a significant game-changer for people’s perception of the asset.

“When this happens, we’ll see something quite unexpected. The retail market for BTC will dry up. The amount of BTC for sale AT ANY PRICE will be increasingly tiny. Institutions, corporations, and governments will be buying BTC directly from miners, presumably at a huge premium.”

Keiser, who previously said that Warren Buffet will start panic buying Bitcoin when the asset price jumps to $50,000, said that people like the prominent investor, who have no Bitcoin exposure, will see “their wealth hyperinflate to nothing.”

It’s no secret for the community that Buffett isn’t a fan of the primary cryptocurrency..

He once called Bitcoin “rat poison,” and even a charity launch with TRON’s Justin Sun couldn’t change his mind.

Shortly after the event, Buffett insisted that BTC has no value “and never will.”

However, Buffett recently purchased a massive share in a mining company producing gold while reducing his exposure in significant banks such as JPMorgan Chase and Wells Fargo.

Keiser believes that those who had taken a similar path and purchased gold and silver will be less impacted.

Nevertheless, even gold holders “will see their wealth take a relative nosedive against investors that are 100% BTC.”

In other trending Bitcoin News today:

Even The Rothschild’s Are Buying Bitcoin; Grayscale’s Holdings Surpass 450k BTC

The Rothschild Investment Corporation has bought 27 bitcoins in share form through Grayscale Bitcoin Trust (GBTC).

GBTC itself added another 6,937 BTC (worth $72 million) in the past few days after reporting the third straight record quarter with inflows reaching $1 billion.

As of Sept. 2020, Grayscale’s bitcoin holdings reached 450k BTC, representing nearly 2.5% of all Bitcoin supply, as per YCharts.

Rothschild reportedly has $1.4 billion in assets under management, with $235,000 of it held in Bitcoin.

This makes them one of the most prominent investment banks to get into bitcoin, which is most likely for their clients.

Other big names like Rockefellers began investing in blockchain and crypto startups back in 2018.

Blackrock, with $6.3 trillion assets under management, also started considering diversifying into crypto the year following the bitcoin price top.

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Trezor: ► http://trezor.cryptonewsalerts.net

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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:

There is strong evidence to suggest #Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000

— Max Keiser (@maxkeiser) October 16, 2020

The (temporary) #Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000

— Max Keiser (@maxkeiser) October 16, 2020

https://cryptopotato.com/warren-buffett-will-see-his-wealth-hyperinflate-while-bitcoin-price-does-40-80x-says-max-keiser/

https://cointelegraph.com/news/the-next-big-treasure-corporations-buy-up-bitcoin-as-a-treasury-reserve

https://bitcoinexchangeguide.com/even-the-rothschilds-are-buying-bitcoin-grayscales-holdings-surpass-450k-btc/

➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net

If the Bitcoin price can stay above $10,000 by the day of the U.S. elections, history suggests that a $100,000 BTC is next.

Bitcoin has spent nearly 100 days above $10,000 – and if history repeats itself, further price gains could be astronomical.

As noted by various social media users this week, as of Oct. 30, Bitcoin was just five days away from trading above $10,000 for 100 days.

According to data from analytics firm CoinMetrics compiled by Twitter user Julio Moreno, after trading above certain price points specifically for 100 days, Bitcoin subsequently gained by an order of magnitude.

For example, after staying above $10 for 100 days, it took just 122 days for BTC/USD to reach $100.

After cracking 100 days above $100, meanwhile, $1,000 appeared in just two days.

Looking at the difference between $1,000 and $10,000, the time period was longer — 150 days to crack five figures after trading at four figures for 100 days.

“Bitcoin has held above $10,000 for over 90 days now, currently ~30% higher than this key level. This is the longest period in its history,” analytics resource The TIE reported as part of the latest edition of its Weekly Insights newsletter on Monday.

“The second longest period was back in December of 2017 when BTC surpassed $10,000 for the first time, just days before it increased by 79% to set it’s all-time high of $20,000. Third was in August of 2019, when Bitcoin traded within a 20% range for nearly 4 months.”

With Nov. 3 as a deadline, attention is focusing on how the coming days will shape Bitcoin price action.

It’s not just the 100-day rule – before then, Bitcoin will finish October likely with one of its highest monthly closes on record.

To beat the top, BTC/USD must hit $13,890 by the end of Saturday. Nov. 3 meanwhile also forms the date of the 2020 U.S. presidential elections, an event whose outcome is widely tipped to have an immediate impact on macro markets.

In other trending Bitcoin News today:

BREAKING NEWS: Iran Central Bank FOMO Begins

Iran has become the first country in the world to use Bitcoin at a state level for value exchange.

Iran has become the first country in the world to use cryptocurrencies at a state level for value exchange.

The Iranian Cabinet has amended legislation to redirect cryptos into the Central Bank of Iran’s funding mechanisms for imports, according to a Saturday report by the official IRNA news agency.

“The miners are supposed to supply the original cryptocurrency directly and within the authorized limit to the channels introduced by the CBI,” said the report by CBI and the Ministry of Energy.

The legal cap for the amount of cryptocurrency for each miner would be determined by the level of the subsidized energy used for mining and based on instructions published by the Ministry of Energy.

Iranian money has drastically fallen in value with inflation there at 34%, a situation that has been continuing since 2018.

The country is in the grip of US sanctions, so they can not use dollars for international trade.

They are therefore turning to bitcoin, the first country to do so at a state level, with the famous bitcoin volatility less of a consideration here because the situation is desperate.

Iran’s economy has been contracting for much of last year and this year at circa -10% a quarter, making this a depression.

However, after some experimentation with cryptos starting in 2018, it appears Iran has found a use case in both creating economic value through facilitating crypto mining, and now in using bitcoin for international trade.

For months we have suspected this was their strategy.

Now it is in black and white: Iran is bypassing the dollar and other fiat currencies by using bitcoin.

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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:

#bitcoin price can move really fast in bull markets. How fast? 4 to 5 months to move from $10 to $100 and from $1,000 to $10,000.

This happened after 100 consecutive days above these levels and we are only 6 days away from 100 consecutive days above $10,000 pic.twitter.com/fjjiZdeX4C

— Julio Moreno 🔴🔴🔴🔴 (@jjcmoreno) October 28, 2020

https://u.today/will-apple-grab-bitcoin-to-save-its-191-bln-in-cash-crypto-influencers-taking-guesses

Iran Changes Law to Use Bitcoin For Imports

https://cointelegraph.com/news/bitcoin-just-4-days-away-from-historically-bullish-10k-price-record