TOM LEE: BITCOIN ETF ONLY POSSIBLE IF BTC PRICE BREAKS 0K!!!

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A crypto strategist who sent an early warning about the Bitcoin (BTC) big correction last year is back with another bold prediction.

Dave the Wave is highlighting a new outlook from entrepreneur and Bitcoin investor Bob Loukas, who expects BTC to crater at the end of the current bull cycle.

Dave predicts that after the current bull market, Bitcoin will go through a “solid correction” for a few years before restarting a new boom cycle that will catapult the leading cryptocurrency above $280,000 at the end of 2027.

BTC investor Bob Loukas tweeted:

“To date, cryptofinance remains a laughed at and obscure market on the fringe of finance. Near the top of the next great Crypto bubble, market cap and penetration will hit ‘warning levels’ that concern the financial establishment.

In response, I believe you’re going to see coordinated full attack that will send crypto into savage + prolonged bear market. (Time+Price) Of course, it will adapt. Engineers will dig deeper. And in many ways, that act will serve as its right of passage.”

In the short term, however, Dave is telling is 38,000 followers that the month-long Bitcoin correction may be coming to an end as technical indicators flash bullish signals.

“Third time lucky?”

The crypto strategist is also keeping a close eye on the performance of a select group of altcoins, which includes Ethereum (ETH/USD), Chainlink (LINK/USD), Cardano (ADA/USD), NEO (NEO/USD), Monero (XMR/USD), and Tezos (XTZ/USD).

Based on Dave’s chart, Chainlink has been the best performer since the 2018 bear market bottom, and it is closely followed by Ethereum, Cardano, NEO, Monero, and Tezos.

Dave compares the long-term timeframe charts of Ethereum and Bitcoin (BTC/USD).

By doing so, according to the trader, Ethereum is poised to explode as it is a full bull market cycle behind Bitcoin. “And the fuller history… suggesting ETH a cycle behind.”

In other trending Bitcoin News today:

THREE KEY REASONS WHY BITCOIN’S MACRO CHART IS STILL BULLISH

Bitcoin’s macro trend remains bullish despite its inability to hold above crucial technical levels during the summer rally.

One crypto-asset analyst recently shared a series of charts and tweets showing that there are multiple reasons to be bullish on Bitcoin from a macro time frame.

Three of these reasons are as follows:

– Bitcoin has flipped the middle of the macro 1,000 range into support, meaning it looks primed to test range highs at $14,000.

– Bitcoin recently broke the multi-year downtrend that originated from the $20,000 all-time high set in December 2017. The downtrend was even retested by Bitcoin in late July, suggesting that it is acting as support. BTC breaking this trendline is important as it acted as resistance in 2019.

– BTC retraced to the “golden pocket” Fibonacci Retracement level in March, suggseting there will be an “impulse wave” towards all-time highs over time.

Underlying on-chain trends agree with the positive sentiment put forth by the aforementioned trader.

Glassnode reported that the number of BTC whales has been on a strong incline since the 2018 lows:

“The number of Bitcoin whales (entities holding ≥ 1K BTC) has been on an upwards trend for the past months. An indication that more high-net-worth individuals are entering the space to invest in Bitcoin in expectation of $BTC price appreciation.”

Other on-chain trends supporting Bitcoin growth include an increase in the realized cap and a decreasing number of BTC on exchanges, which should support price growth.

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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://dailyhodl.com/2020/10/12/after-calling-one-of-bitcoins-biggest-crashes-this-crypto-analyst-says-btc-will-surpass-280000-heres-when/

Three Key Reasons Why Bitcoin’s Macro Chart Is Still Bullish

https://cointelegraph.com/news/17k-bitcoin-price-a-real-possibility-if-bulls-flip-12k-to-support

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Max Keiser believes that the Bitcoin price will shoot up to $50,000 per BTC as a result of Warren Buffet moving into gold.

The vocal Bitcoin proponent and TV anchor Max Keiser has commented on the recent decision of Warren Buffett to move his funds from stakes in major global banks and make a bet on Barrick Gold miner stocks, saying that the Berkshire Hathaway CEO is wrong about gold, banks and, what’s more, he is likely to be wrong by chiding Bitcoin.

Bloomberg has reported that the world renowned investor, aka the Oracle of Omaha, Warren Buffett has decided to shift his investments from banks and move them into the stocks of Barrick Gold.

He has reduced his financial presence in several big name banks, such as JPMorgan Chase, Wells Fargo, etc, after many years of considering these institutions to be a ‘a good business as long as they don’t make major mistakes’, according to Bloomberg.

Previously, U.Today reported that the investment guru and a popular non-fiction writer Robert Kiyosaki slammed Buffett for his ‘old-dated strategy’ of ignoring gold, the stock market and Bitcoin, sitting on his billions of cash.

Now, Warren Buffett has started to gradually move into gold. However, Max Kaiser believes that he is wrong about pretty much everything – gold, banks, airlines and Bitcoin, which Buffett previously referred to as “rat poison squared”.

Max Keiser believes that following Buffett’s move into gold, the global investment business is likely to bet 5 percent of its funds on gold.

This, in its turn, lead Keiser to believe that around 1 percent of the funds would be allocated into Bitcoin (following the recent move of MicroStrategy who bought $250 million worth of BTC). That’s $1 trillion.

“Global $100 trillion fund management biz is less than 1% invested in Gold. With Buffett now moving into Gold expect global allocation of 5% AU min. Expect a 1% BTC global allocation ($1 trillion).”

The crypto community and Bitcoiners in particular have always been critical about banks, referring to Bitcoin as something that would put them out of business.

As for gold, the Winklevoss twins have recently stated that unlike Bitcoin, gold has an infinite supply in the space (in particular referring to Elon Musk, NASA and their plan to explore gold and other precious metals on asteroids, while pitching Bitcoin to Dave Portnoy).

Tyler Winklevoss tweeted:

“The supply of gold is infinite in our galaxy, the supply of Bitcoin will always be fixed. Long-term, there will be no comparison between these assets. Gold will be to bitcoin in the future like sand is to gold today.”

In other trending Bitcoin News today:

Raoul Pal: Bitcoin will become best performing asset in the world!

Former Goldman Sachs employee Raoul Pal has been one of the most bullish on Bitcoin’s future in recent days.

Pal has made a bullish prediction for the first cryptocurrency by market capitalization and said that Bitcoin will be the best performing asset in the coming years.

Comparing it to other assets such as gold, stocks and commodities, Pal outlined:

“Almost everything is an inferior trade to Bitcoin (…) And there is nothing – except currently Ethereum and that’s in a shorter-term time horizon because it was underperforming massively – but on any meaningful time horizon, whether it’s one-year, two-year, three-year, four-year, five-year, six-year, Bitcoin’s basically outperforming everything, and it’s breaking out versus everything, or – another term – everything is breaking down versus Bitcoin.”

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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 supply of gold is infinite in our galaxy, the supply of #Bitcoin will always be fixed. Long-term, there will be no comparison between these assets. Gold will be to bitcoin in the future like sand is to gold today.

— Tyler Winklevoss (@tylerwinklevoss) August 14, 2020

Global $100 trillion fund management biz is less than 1% invested in Gold. With Buffett now moving into Gold expect global allocation of 5% AU min. Implies $5,000 Gold

Expect a 1% #BTC global allocation ($1 trillion).

This implies $50,000 for Bitcoin

Expect PTJ ups to 10%

— Max Keiser (@maxkeiser) August 14, 2020

These are all INCREDIBLY BULLISH long-term chart patterns. The probabilities in the charts suggest that Bitcoin is likely set to be the best performing major asset in the world over the next 24 months and by a big margin.

I remain #irresponsiblylongbitcoin #bitcoin $BTC

— Raoul Pal (@RaoulGMI) August 10, 2020

$BTC updateAnother good 4-hr close above supportPrice came down, retested and has bounced – will look for continuation to the upside

Still want to close above $11,900 on the daily pic.twitter.com/Dp1qsmvTFI

— Josh Rager 📈 (@Josh_Rager) August 12, 2020

As long as $BTC can hold $10,500 support, I think we continue to move up to test the 1.618 extension1.618 is at $13k and 2.618 is around $14,800

Yesterday’s drop was possibly price suppression and re-accumulation of longs and a bear trap on shorts to fuel the next push up pic.twitter.com/9UEs7T5Toe

— Jacob Canfield (@JacobCanfield) August 12, 2020

The US Dollar is “Ready to Break Down” – How This May Impact Bitcoin

https://www.crypto-news-flash.com/analyst-bitcoin-to-fall-to-critical-support-and-then-rise-to-to-14000/

https://u.today/warren-buffett-is-wrong-about-bitcoin-gold-banks-max-keiser

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Blockfyre’s co-founder believes a bull market will return, seeing Bitcoin (BTC) price rise 1,400% to hit $150,000, and Ethereum (ETH) and other solid altcoins making even more impressive gains.

The co-founder of cryptocurrency analysis company Blockfyre believes that a bull run will return, propelling Bitcoin (BTC) to a price of $150,000.

In a tweet on June 4, Simon Dedic suggested that these gains will not be reflected across the entire cryptocurrency market, although the more solid altcoins should also see impressive price action.

Bitcoin’s dizzying ascent to its current all-time high of almost $20,000 in December 2017 came complete with a media frenzy around all things crypto.

Coupled with a boom in initial coin offerings, and fuelled by investor FOMO (fear of missing out), money was thrown at literally any project in the hope that it would mirror the gains of Bitcoin.

This became a self-fulfilling prophecy, and pretty much every altcoin posted a significant price increase during 2017. 

While Dedic warned that he believes this won’t happen again, he does envisage a Bitcoin bull run returning and “pumping the few solid alts out there.” He even went as far as to make a number of price predictions, such as Bitcoin gaining over 1,400% from its current price of around $9,750 to reach his target of $150,000.

Ether (ETH) is set to fare even better according to Dedic, increasing more than 3,570% from current levels around $245 to a price of $9,000.

And Binance Coin (BNB) is predicted to see a 2,750% rise to $500. Bigger increases still are forecast for Chainlink (LINK) and Tezos (XTZ), both with a target price of $200, representing 4,450% and 6,800% gains respectively.

But this all fades into insignificance compared to Dedic’s prediction for VeChain (VET), with a seemingly modest target price of $1.

However, this marks a massive 14,100% increase on its current price of $0.007.

In other trending Bitcoin News today:

Top Crypto Analyst Flips Bullish on Bitcoin, Says Miners No Longer Selling Their BTC

Top crypto influencer and Bitcoin maximalist Tuur Demeester, citing data from the crypto analytics firm Glassnode, says Bitcoin miners are almost done selling their BTC.

Glassnode’s Miner Outflow Multiple metric tracks the volume of Bitcoin flowing out of miner wallets.

This multiple is currently at a trough point at .47 after a peak of 2.62 in mid 2019 and a previous low in late 2018 at .307.

On May 11th, the day of the halving, the reward for completing a block was reduced by 50% to 6.25 BTC, with revenue earned by miners initially plunging 48%.

The increased pressure to maintain profitability forced miners comprising up to 30% of the entire Bitcoin network hash rate to exit the market, according to data from the mining pool Poolin.

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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:

In 2017, you could have bought literally any alt and it was a good investment.Imo this won’t happen again.However, I still believe that the bull run will return, pumping the few solid alts out there.

Predictions:$BTC $150k$ETH $9k$LINK $200$BNB $500$VET $1$XTZ $200

— Simon Dedic (@scoinaldo) June 4, 2020

https://cointelegraph.com/news/analyst-predicts-next-bull-run-will-send-bitcoin-to-150k-and-ether-to-9k