Tron CEO: Bitcoin Price to Break 0K in 2025 and Pull Up Other Coins | BTC WILL NOT STOP AT 0K!

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BITCOIN NEWS: The CEO of the US-based crypto exchange Kraken says he believes Bitcoin (BTC) is on the cusp of a new long-term rally to $100,000.

In new a conference call hosted by Pantera, Jesse Powell says the masses don’t yet understand the importance of Bitcoin’s scarcity and independence from banks and middlemen.

He expects that to change in the decade ahead, if and when the value of the dollar dwindles.

“I don’t think Bitcoin is even priced into Bitcoin. Most people have heard about Bitcoin but they don’t own any Bitcoin. They don’t know what the future of Bitcoin is. I think if everyone knew about Bitcoin and the potential of Bitcoin and how great it was, the price would be a trillion dollars a Bitcoin. We would all just be switched over to Bitcoin and not be using anything else…

I think that there’s a lot that’s not priced in, even though it’s predictable, like what the future is. Ten years down the road, the US dollar is going to continue to be printed like crazy. It’s going to be totally worthless. No one is going to want it. Everyone is going to want Bitcoin. But that’s not priced in because of perceived risks or perceived uncertainty about the future, about regulation, about how does the government respond in different situations as Bitcoin continues to develop, or how useful does it actually become?”

Kraken is already witnessing an explosion of institutional trading.

According to Powell, BTC will likely hit $100,000 in about two years.

“I believe that we’re in a completely unprecedented time in terms of the global political and economic systems. I believe that this is going to continue to drive a pretty massive shift into digital currency. I think the next couple of years we’ll likely see 1 BTC exceed $100,000…

Just anecdotally, in the last two months, we’ve seen a huge surge in new accounts, from institutions. I think, again, I mentioned it earlier, something that’s preventing more institutions from getting in is just the uncertainty around the regulatory situation.

I think many are in a wait and see mode, many maybe trying to have their mandates changed to allow them to invest in these asset classes. But I do think it’s coming. I think that more LPs are going to demand that their GPs invest in crypto. I think it’s going to come from the bottom up. The returns are just so hard to ignore. It seems irresponsible not to have crypto be a piece of your portfolio.”

In other trending Bitcoin News today:

Wall Street Buying Bitcoin (BTC) at Blistering Pace Despite Warning From Goldman Sachs

New data shows institutional investors are buying Bitcoin at a remarkable rate.

Market researcher Kevin Rooke is tracking the Grayscale Bitcoin Trust (GBTC), which gives institutional investors a secure way to gain exposure to BTC without having to buy the underlying asset itself.

GBTC is fully backed by real Bitcoin, and according to Rooke, the pace at which Grayscale is buying BTC now outstrips the new supply of the leading cryptocurrency.

“Grayscale’s Bitcoin Trust bought 18,910 Bitcoins since the halving. Only 12,337 Bitcoins have been mined since the halving.” Referencing a new report from Goldman Sachs that concludes Bitcoin is not an asset class nor a viable investment, Rooke comments, “Wall Street wants Bitcoin, and they don’t care what Goldman Sachs has to say.”

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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.

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ChainLink (LINK) is having an ‘Altcoin Season’ of its own – all over again.

LINK has been known to move against the trend, staging a similar rally in the second quarter.

The Chainlink crypto has now grown more than 49% in a single week, touching $2.97 last night, with predictions of easily reaching $3.

LINK has managed to grow to and all time high of $4.54, and may repeat this record. The ChainLink price is also growing against Bitcoin (BTC), already breaking its own record to above 34,000 Satoshi.

Are Altcoins ready to explode?!

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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:

5 Reasons Why ChainLink (LINK) Is Leading the Market Today

https://www.tradingview.com/chart/BTCUSD/Z1vb3kth-Bitcoin-Bullish-Signals-On-The-Daily-TimeFrame-11-111-Next/

I have had the 7.2-7.4k region as my bottom target for some time now, but if it is lost I think we test the mid 6k region and then we get our mega bounce to 14k+. Will be buying more spot all the way down and likely opening some low-leveraged longs in the mid 6k’s. $BTC pic.twitter.com/XfHdPdCRea

— Credible Crypto (@CredibleCrypto) October 9, 2019

$BTC – As you can see from the blue lines and volume profile Bitcoin price managed to break and close above the highest volume areas in this rangeThis will now typically act as support

$8,380s could act as resistance but price can run up to $8500s with a break above there pic.twitter.com/06PaiqdjTa

— Josh Rager 📈 (@Josh_Rager) October 8, 2019

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The Bitcoin price just surpassed $11,700, breaching a critical resistance level with BTC ending July at its highest monthly close since its 2017 peak.

Max Keiser just tweeted,

“Bitcoin hits new 2020 high. This leg up will continue to $28,000 before we might see a pause.”

Spartan Group’s Kelvin Koh said that when BTC breaks out of $11,400, a rally to $12,000 is likely.

Meanwhile, on-chain analyst and trader Willy Woo said Bitcoin’s rally above $11,000 could place BTC at the start of the “main bull phase.”

On June 27, on-chain analyst and Bitcoin trader Willy Woo revealed a new price model for BTC. The model suggested that a new bull run for the top cryptocurrency is brewing.

At the time, Woo said:

“This is a new model I’m working on, it picks the start of exponential bull runs.

1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.

2) This model suggests we are close to another bullish run. Maybe another month to go.”

A month has passed since the model was revealed and the price of Bitcoin has increased from $9,100 to over $11,000.

Following up on the model, Woo said he is “relatively confident” the main bull phase is igniting.

The analyst broke down various on-chain data points, including Bitcoin’s mempool and the relative strength index (RSI), to evaluate market cycles.

Woo said that the on-chain RSI, specifically, suggests the main bull market could begin in the fourth quarter. Woo explained that:

“With the current break to 11K, I’m relatively confident last months model is working on queue, we’re at the start of the ‘main bull phase’… 365 day on-chain RSI shows the compression at the early phase of the bull cycle nearing completion, I’m expecting RSI expansion that typifies the main bull season run starting Q4 2020 into 2021.”

Similarly, Koh said that if the price of Bitcoin continues to increase above $11,400, it will sustain its momentum.

But if BTC continues to rally, the investor emphasized that alternative cryptocurrencies could consolidate.

Koh said: “If BTC breaks the resistance at $11.4K, we are going above $12K in no time. Will take the wind out of altcoins again in the short term.”

In other trending Bitcoin News today:

As The Bitcoin Price Soars, Bitcoin’s ‘Real’ Crypto Market Dominance Is Revealed

According to the new measure of bitcoin dominance, bitcoin currently makes up 79% of the cryptocurrency market—up from the 62% bitcoin market share calculated by the oft-cited crypto data website CoinMarketCap, which takes into account hundreds of cryptocurrencies that are all created and issued in different ways.

The Real Bitcoin Dominance Index, created by Buy Bitcoin Worldwide founder Jordan Tuwiner, calculates bitcoin’s market share among cryptocurrencies that are created, or “mined,” in a similar way to bitcoin.

The new bitcoin dominance index also excludes all cryptocurrencies issued as a form of fundraising, known as initial coin offerings (ICOs), cryptocurrencies tied to traditional currencies, such as tether, and other centralized projects, making it “a better measure” of the cryptocurrency market, according to Tuwiner.

“The issue with ICOs is that they are centrally controlled. Let’s say a bitcoin exchange releases stock legally via a token. Other dominance indexes would likely include that in their index. If so, then why not include the whole stock market? ICOs or stocks that are tokens are not trying to be money, and therefore should not be measured in a dominance index with bitcoin,” Tuwiner said via email.

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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:

🔴 fixed at $9132🔴🔴 fixed at $11356🔴🔴🔴 currently $11700

I can’t make a chart for you now (at sea), but S2F model perfectly on track. pic.twitter.com/rJGuKyxPKG

— PlanB 🔴🔴🔴 (@100trillionUSD) August 1, 2020

https://cointelegraph.com/news/bitcoin-price-soars-to-11-400-as-traders-say-a-bull-phase-is-igniting