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Tom Lee in a recent interview with BLOCKTV said, “The Bitcoin (BTC) price has to be about $150,000 to be liquid enough for a related exchange-traded fund (ETF).”
According to Thomas Lee, co-founder of market research firm Fundstrat, “A Bitcoin ETF is a few years away from now.”
“An ETF is likely to generate close to 13 billion dollars of demand the first year, and that’s a massive demand imbalance to available supply.”
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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.
News Resources From Today’s Show:
Bitcoin ETF Only Possible if Price Breaks $150K, Tom Lee Says
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CRYPTO BULL MIKE NOVOGRATZ DRAMATICALLY INCREASES BITCOIN PRICE PREDICTION FOR END OF 2021!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Mike Novogratz, CEO of crypto management firm Galaxy Digital, is dramatically pushing up his bullish Bitcoin price prediction for 2021.
In a Bloomberg Technology interview, Novogratz shares that he’s witnessing the rising interest of big and institutional investors into BTC.
“We started seeing one group of investors after another. It was corporates with Square and MicroStrategy and Tesla. It was insurance companies with Mass Financial and others. It’s high-net-worth individuals. It’s ETFs (exchange traded funds).
All of a sudden, we went from a world where buying Bitcoin was kind of fringy or risky to not having it being risky right to not having this part of your portfolio in a world of central banks printing money. Our business at Galaxy is booming. We can’t hire salesmen fast enough to cover all the institutional accounts that want to either understand it or participate.”
As more institutions embrace the flagship crypto asset, the Bitcoin bull predicts that the BTC price will more than double and hit $100,000 by the end of 2021.
“It feels like we’re going to consolidate a little bit here in this $50,000 area, caught [between] $42,000 to $60,000 but then the next big leg is up to $100,000, and that wouldn’t surprise me at all if we crack a hundred by the end of the year.”
In November 2020, Novogratz predicted that Bitcoin will hit $20,000 first and then $65,000. The Bitcoin advocate’s newest projection presents an upside potential of nearly 120% as the leading cryptocurrency is currently trading around $45,500.
Novogratz adds that he believes older investors will likely get into the Bitcoin revolution soon.
“You know it surprises me. I’m saying that you know where I was in November, but the adoption I’m seeing is shocking, and it’s not like I’m just guessing. I’m looking behind me, in front of me, and seeing all these new projects that are coming, banks that are going to issue products for their wealth management businesses. Every big bank in America is working on a wealth management product, and so we’re going to get into the baby boomers sooner than I thought we would.”
In other trending Bitcoin News today:
3 reasons Bitcoin Recovered By 8% Overnight — Key Levels To Watch Next
The price of Bitcoin (BTC) recovered by more than 8% overnight on March 1 following a steep drop during the weekend.
There are three reasons the price of Bitcoin recovered swiftly in the past 24 hours. They include the recovering global stock market, rising Coinbase premium, and a typical weekend reversal.
The global stock market has started to recover as soon as the market opened on Monday, March 1.
The stock market slumped over the past week due to the rising Treasury yield curve. As the bond market rallied, risk-on assets, such as stocks, saw a pullback.
Holger Zschaepitz, said the global risk markets started the week strongly as bond yields eased. He said:
“Global risk mkts start the week on the front foot as bonds rally. Australia’s 10y yield fell 25bps, German 10y drops 3bps ahead of inflation data. US 10y steady at 1.41%. Following last week’s bloodbath, easing in bond yields is big relief. Gold gains to $1757. Bitcoin at $46.8k.”
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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:
The all-fiat money global experiment that started in 1971 led to increasing synchronized central bank policies. Now, there is only one global bank. And it’s about to fail (due to a collapse in confidence in fiat money, exacerbated by the rise #Bitcoin) pic.twitter.com/Fg82WkA9CI
— Max Keiser (@maxkeiser) February 28, 2021
Citibank have released a 106-page report on #Bitcoin.
BTC’s attributes “could spur it to become the currency of choice for international trade…. Bitcoin is at a tipping point and we could be at the start of a massive transformation of cryptocurrency into the mainstream.” pic.twitter.com/i8lrpxn5Ha
— Bloqport (@Bloqport) March 1, 2021
https://cointelegraph.com/news/3-reasons-bitcoin-recovered-by-8-overnight-key-levels-to-watch-next
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BITCOIN RALLY INCOMING!!!! SUPPLY SHOCK IN PLAY THIS WEEK!!!! MIKE TYSON FUELS BTC VS. ETH DEBATE!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
A popular on-chain analyst believes that a Bitcoin rally is in the cards as BTC faces the possibility of a supply squeeze. Will Clemente says that a Bitcoin supply shock could ignite a significant BTC rise.
“Hang in there guys. This thing is going to pop soon.
Supply shock still in play this week.”
Clemente’s bullish stance on BTC comes as he sees on-chain signals pointing to the rise of Bitcoin adoption around the world.
“Extremely bullish on global Bitcoin adoption.
Blue: Supply held by entities with .01-1 BTC.
Green: Net user growth on the network.
All-time highs in new users. Hockey stick up in accumulation from small entities.”
In other trending Bitcoin News today: Former Heavyweight Boxing Champion Mike Tyson Asks Fans if They Prefer Bitcoin or Ethereum!
On Saturday, former heavyweight boxing champion, Mike Tyson, asked his 5.6 million followers on Twitter which crypto asset they prefer: bitcoin or ethereum. Tyson is no stranger to the world of crypto and just recently stepped into the realm of non-fungible token (NFT) collectibles.
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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:
Which do you prefer, BTC or ETH?
— Mike Tyson (@MikeTyson) July 17, 2021
https://cointelegraph.com/news/crypto-experts-see-bitcoin-replacing-fiat-money-in-20-years
https://cointelegraph.com/news/bitcoin-mining-difficulty-drops-for-fourth-time-in-a-row
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BITCOIN CAN 'EASILY' HIT $100K WITHIN 12 MONTHS SAYS SKYBRIDGE CAPITAL FOUNDER ANTHONY SCARAMUCCI!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Anthony Scaramucci, the former White House communications director and founder of investment firm SkyBridge Capital, has said Bitcoin could ‘easily’ hit $100,000 within the next 12 months as more companies and money managers are adopting it.
In an interview with Yahoo Finance on Wednesday, Scaramucci said he would advise investors to move the money that they do not need in the short-term to BTC. Bitcoin, he said, has a very big future.
Scaramucci has previously been critical of Bitcoin but has since become a believer. Last month, SkyBridge launched its Bitcoin Fund L.P with a $25 million capital. The fund’s minimum subscription size is $50,000 and it is about to cross $100 million in assets under management (AUM), the founder told Yahoo. The firm started investing in Bitcoin late last year. SkyBridge now has under $500 million worth of Bitcoin across all of its investments.
Scaramucci said money managers will soon be “benchmarked off of Bitcoin” and that a few percentage points of this will be related to digital currency. “So if you’re not going to be an investor in Bitcoin you’re effectively short Bitcoin,” he added, noting that the dominant cryptocurrency actually lifted his fund’s performance that took a hit at the beginning of the coronavirus pandemic.
“The SkyBridge Series G fund is up 33% since April 1, and some of that frankly has been the move in Bitcoin that we took advantage of in the fourth quarter of last year,” Scaramucci told Yahoo.
For him, Bitcoin is simply just going to work. In a previous interview, he said the GameStop fiasco is proof that Bitcoin is going to work. “How are you going to beat the decentralized crowd? That to me is more affirmation about decentralized finance,” he added.
In other breaking Bitcoin News today:
Jack Dorsey and Jay-Z to set up 500 BTC blind Bitcoin trust in India, Africa
Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin (BTC) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in India and Africa.
Dorsey revealed the creation of the trust on Feb. 12 while sending out a call for three board members to oversee the blind trust initially.
Dubbed the ₿Trust, the application form for board members reveals the mission statement, “Make Bitcoin the internet’s currency.”
The Twitter CEO’s tweet appeared just hours after news broke concerning India’s alleged plans to completely ban the use of cryptocurrencies within its borders. The world’s second-most populated country could soon move to ban all crypto-assets, giving users a 3–6 month grace period to liquidate their holdings, according to an anonymous source who spoke to Bloomberg.
On Feb. 10, Jack Dorsey donated $1 million to the Washington D.C-based nonprofit organization Coin Center which also received a $2 million donation from asset management firm Grayscale. Dorsey’s ongoing infatuation with Bitcoin recently saw him set up a Bitcoin full-node from his Macbook, meaning he now has a hand in verifying the Bitcoin blockchain.
In other trending Crypto news today:
BITCOIN SETS NEW HIGHS AS ALL EYES WATCH REACTION TO $50,000 RESISTANCE
Bitcoin and the entire crypto market have been caught within a strong uptrend throughout the past few days and weeks, with sellers unable to gain any profound control over the aggregated market.
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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:
JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe
— jack (@jack) February 12, 2021
#Bitcoin is also front-running the Fed Because it’s better than Gold and its market cap is still small compared to Gold, stocks, bonds, property It has the most upside >> Because it’s perfect
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