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

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Bitcoin advocate, The Moon Carl who has 146,000+ YouTube subscribers, told his 70,000+ Twitter followers that he predicts the BTC price to hit $50,000 by May, 2021. 

This virtually means he expects the Bitcoin price to grow 250% in the next 5 months. 

Stock-to-flow model predicts a $100,000 BTC by December of 2021 so The Moon Carls bullish Bitcoin prediction is right in alignment with this popular model. 

In other breaking Bitcoin News today:

JPMorgan Says Gold Will Suffer for Years Because of Bitcoin

The rise of cryptocurrencies in mainstream finance is coming at the expense of gold, says JPMorgan Chase & Co.

Money has poured into Bitcoin funds and out of gold since October, a trend that’s only going to continue in the long run as more institutional investors take a position in cryptocurrencies, according to the bank’s quantitative strategists including Nikolaos Panigirtzoglou.

JPMorgan is one of the few Wall Street banks that’s predicting a major shift in gold and crypto markets as digital currencies become increasingly popular as an asset class. The trend poses a problem for bulls in precious metals markets over the coming years if investors move, even a small slice, of their allocations away from gold and into crypto.

“The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” wrote the JPMorgan strategists.

The Grayscale Bitcoin Trust, a listed security popular with institutions, has seen inflows of almost $2 billion since October, compared with outflows of $7 billion for exchange-traded funds backed by gold, according to JPMorgan.

JPMorgan’s calculations suggest Bitcoin only accounts for 0.18% of family office assets, compared with 3.3% for gold ETFs. Tilting the needle from gold to bitcoin would represent the transfer of billions in cash.

One way to play the theme is buying one unit of Grayscale and selling three units of the SPDR Gold Trust, the bank said.

“If this medium to longer term thesis proves right, the price of gold would suffer from a structural flow headwind over the coming years,” wrote JPMorgan’s strategists.

In other tending Bitcoin news:

MicroStrategy CEO Increases Convertible Senior Notes Offering to $635M to Buy More Bitcoin

Michael Saylor just doesn’t give a f—. As we reported, the company’s share dived 17% after Citi released its bearish report on MicroStrategy, where the analyst questions Saylor’s focus on Bitcoin.

While Citi analysts called Bitcoins’ rally “overextended,” it has been the Bitcoin investment that helped the company shares rise to a level not seen since 2000. In 2020, BTC has rallied more than 150% on top of 2019’s 90% gains.

MicroStrategy CEO announced today the pricing of the offerings of the convertible senior notes.

As per the official announcement, the offering amount has been bumped up to $550 million from the previous $400 million as shared in Monday’s announcement. The official announcement reads,

“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $537.2 million (or approximately $634.9 million if the initial purchasers exercise in full their option to purchase additional notes).”

But of course, the most interesting part of it all is that the company intends to invest the net proceeds from the sale of notes in Bitcoin per its Treasury Reserve Policy. Bitcoin advocate Max Keiser said,

“Michael_saylor⁩ /⁦MicroStrategy⁩ is making a speculative attack on the Fed/USD like Soros/Druckenmiller did against the BoE/GBP in 1992, ejecting it from the ERM.”

“Saylor has pulled the pin and tossed a grenade into the Fed’s boardroom.”

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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:

Citi: “You’re crazy with this Bitcoin thing. You’re downgraded!” 👉🏻😵

MicroStrategy: “We have *so* much investor interest we’re upping our offering from $400M to $550M. Oh, and investors can buy another $100M on top of that if they want.”

— Ellie Frost (@BlockBytch_) December 9, 2020

https://bitcoinexchangeguide.com/microstrategy-ceo-increases-convertible-senior-notes-offering-to-635m-to-buy-more-bitcoin/

https://www.bloomberg.com/news/articles/2020-12-09/jpmorgan-says-gold-will-suffer-for-years-because-of-bitcoin

https://cointelegraph.com/news/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run

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Shark Tank host Robert Herjavec is certain that BTC is a good buy at the current Bitcoin price.

The Canadian businessman who’s known as the host of the hit TV show ‘Shark Tank,’ is a ‘big believer’ in Bitcoin (BTC) and electronic payments in the future, unlike his fellow host Mark Cuban.   

When asked about analysts who say that the BTC price could reach $100,000 or even $1 million during his recent Kitco interview, Herjavec said that it didn’t sound crazy to him on a long-term basis.

Herjavec says that one of the main challenges for Bitcoin is the existence of multiple forks.  

“There is no one Bitcoin. There are different types of Bitcoin, and I think it’s a bit of a fragmented industry.” 

There are currently three different versions of Bitcoin in the top 10, which signifies how divided the community is.

However, the original Bitcoin still blows out of the water its forked versions given that it is responsible for almost 64 percent of the total market cap. 

Bitcoin Tumbles, Altcoins in Deep Red – Here’s Where BTC, ETH and XRP Will Land, According to Top Crypto Analysts

As Bitcoin continues to slide toward $9,000, crypto analysts are trying to gauge when the bleeding will stop.

Now that BTC has firmly slipped below $9,300, analyst Josh Rager says he thinks the leading cryptocurrency will continue to head south to support at around $8,600.

Meanwhile, Scott Melker of Texas West Capital says Bitcoin bulls need to protect the $9,090 level to avoid a larger move to the downside.

“The next support for me is still THE LINE at $9,090. For now, price bounced there to the dollar. Now let’s see if it holds.”

Fellow analyst Filbfilb tells his followers on Telegram that he believes BTC will likely hit a bottom at around $8,800, which is the current 200-day moving average on TradingView.

“Downside targets the 200-day moving average, 20-week moving average, and 50-week moving average seem good for a bounce, but the 200-day moving average is never really lost in a bull run, so losing that could be more of a significant issue. Nevertheless, I’m looking for longs down there.”

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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:

I spoke to @jchatterleyCNN this AM.Explained why Warren Buffett isn’t a great person to listen to on technology and why Bitcoin’s monetary policy is superior to fiat monetary policy.If this video gets 500,000 views, Julia will bring on more Bitcoiners.

You know what to do 🙏🏽 pic.twitter.com/lEcyQkbG6w

— Pomp 🌪 (@APompliano) February 25, 2020

$ETH vs USD update>Tapped in to $275-280 resistance>At diagonal support>If lost, I expect a heavy sell-off>$241 first support

>$208-211 remains valid if $241 is lost pic.twitter.com/Rmu2o59Gra

— //Bitcoin 𝕵ack (@BTC_JackSparrow) February 25, 2020

From this morning’s edition of The Wolf Den…”The next support for me is still THE LINE at $9,090…” For now, price bounced there to the dollar.Now let’s see if it holds.

To read my top to bottom analysis on $BTC (and much more), join below. https://t.co/ccjxa38HLr

— The Wolf Of All Streets (@scottmelker) February 26, 2020

There’s the break and bounce off the high volume node for $BTCI don’t expect a trend reversal back up, instead can suspect for this to continue down with more retests of $9300

If that area breaks, IMO we head to $8600 to $8700 pic.twitter.com/T37xGrHdOP

— Josh Rager 📈 (@Josh_Rager) February 25, 2020

https://cointelegraph.com/news/anthony-pompliano-speaks-to-cnn-about-warren-buffett-and-bitcoin

https://u.today/bitcoin-btc-price-reaching-1000000-doesnt-sound-crazy-to-shark-tanks-robert-herjavec

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Right now, with the Bitcoin market cap sitting just under $1 trillion, BTC is only a very tiny fraction of the world’s assets combined. So in the grand scheme of crypto, this is why many analyst believe we’re still so early.

“If Bitcoin captures just 5% of the market cap of other assets on this chart, it’ll be worth over $2M/coin.”

In other trending Bitcoin News today: Bitcoin bears lack ‘balls’ to continue selling into 2022!

BTC bears will probably be too “stoneless” to keep prices down much longer, fresh Bitcoin price analysis argues.

In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoin’s recent 39% 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:

https://cryptopotato.com/rio-de-janeiros-mayor-to-invest-1-of-the-citys-treasury-in-bitcoin/.%20%20megalopolis

https://cointelegraph.com/news/analysts-expect-turbulent-bitcoin-price-until-46-500-flips-to-support