UPDATE: BITCOIN CAN HIT $450K IN 2021, BEST AND WORST-CASE BTC SCENARIOS REVEALED BY S2F CREATOR!!!!

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DARING ANALYST CALLS BITCOIN CRASH TO $2.4K SOON

With market data showing a range of conflicting signals, one analyst has now made a bold prediction that the BTC price will soon see its largest collapse in over a year.

Whereas investors should consider all possibilities, such a bold assumption is certain to be controversial.

This claim of a possible major drop comes from The Moon who has tweeted: “Possible Bitcoin bear flag on the 4-hour chart. The target will be approximately $2,400 if the bear flag support breaks.”

He bases his argument on the four hour price chart, which clearly indicates a bear flag, yet does not necessarily coincide with other timelines. It is worth noting, however, that The Moon also successfully predicted the Bitcoin price drop which took place on March 12th.

Given the heightened volatility over the past few weeks, Bitcoin (BTC) analysts have come out with a range of predictions. It is thus difficult to know which data is most telling of the market’s next moves.

The most basic indicators signal continued price swings in the short term, yet a stronger recovery over the next few weeks.

Many conclusions can be reached using chart data alone, which is why other market considerations should be examined when making BTC price predictions.

There are presently no shortage of larger indicators that analysts have been using to emphasize Bitcoin’s remarkable potential for big gains.

These include the impending block reward halving, a significant increase in overall blockchain activity, and an increasing interest in using Bitcoin as a financial safe haven.

Bitcoin continued to trade near $7,000 on March 27 after traditional markets showed bullish signs and the Dow Jones had its best day in 87 years.

Having preserved support at the lower end, Bitcoin saw its third consecutive day above $6,000 as coronavirus misery appeared to abate for some parts of the world’s financial system.

They were building on the success of the Dow, which on Wednesday saw its biggest one-day growth since 1933 at 20%.

For the Wall Street Journal, this was even enough to call a bull market.

That, in turn, followed an announcement from the United States Federal Reserve to print unlimited amounts of money, something which immediately pumped markets but rattled Bitcoin proponents.

While Bitcoin continued to fluctuate, data suggested that traders were not in the mood to sell — according to monitoring resource Glassnode, exchange balances were at an eight-month low as of Thursday.

“Despite the volatility, Bitcoin holders appear to be withdrawing their funds from exchanges. Outflow has been increasing daily since March 18,” the company summarized on Twitter.

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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:

Breaking: A new bull market has begun. The Dow has rallied more than 20% since hitting a low three days ago, ending the shortest bear market ever. https://t.co/06YS0XqWGP

— The Wall Street Journal (@WSJ) March 26, 2020

Daring Analyst Calls Bitcoin Crash to $2.4K Soon

https://cointelegraph.com/news/bitcoin-price-holding-65k-as-media-calls-new-bull-market-in-stocks

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Bitcoin (BTC) investors have already made more on their holdings this quarter than any Q1 since 2014, as data shows a sustained influx of institutional interest.

According to findings from statistics resource Skew Markets, the Bitcoin price gains so far in 2020 amount to just under 30%.

In no other quarter in the past six years did markets perform that strongly. 

By contrast, Q1 tends to be an underwhelming period for the BTC price. 2014 saw 39% losses, while 2015 and 2016 saw BTC/USD drop by 24% and 3% respectivelyOnly 2017 and 2019 managed to produce positive moves, but at around 11%, neither comes close to this year.

2011 and 2013 were the years Q1 returns were strongest, at 165% and 570%, according to Bitinfocharts’ price index.

Crypto markets have been on fire this week and another $10 billion has just been pumped in.

Crypto pundit John McAfee is back bashing Bitcoin as some top altcoins make double digit gains.

Digital warlord John McAfee has been known for his candid commentary on Crypto twitter.

A recent outburst has again taken a swipe at Bitcoin labeling it as a ‘true shitcoin’.

“Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins; Was brilliant. But we all know that the future of Crypto rests with the Alt Coins. Bitcoin – Old, clunky, no security, no smart contracts, no DAPs …. Is the true Shitcoin.” – John McAfee

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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:

Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins;Was brilliant.But we all know that the future of Crypto rests with the Alt Coins.Bitcoin –Old, clunky, no security, no smart contracts, no DAPs ….

Is the true Shitcoin.

— John McAfee (@officialmcafee) January 29, 2020

Open interest on #bitcoin is currently at $943 million. Every time we’ve hit $1 billion we’ve seen a pretty big sell off.

Let’s see if this time will be different.

— Jacob Canfield (@JacobCanfield) January 28, 2020

$BTC

Volume tells all. A true trend is identified when volume is rising. Blue arrows show volume and price in agreement. Red arrows show price action on descending volume. Price going down with volume = consolidation, not a bearish trend. Volume may be rising with price again. pic.twitter.com/w7Crg7MgjA

— The Wolf Of All Streets (@scottmelker) January 27, 2020

Altcoins Surging, But Why is John McAfee Bashing Bitcoin Again?

https://cointelegraph.com/news/bitcoins-best-q1-since-2013-to-escalate-if-95k-is-broken-trader

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Crypto evangelist Max Keiser says Bitcoin (BTC) could increase 300x as it sets its sights on the dominance of the US dollar. 

On a new episode of RT’s Keiser Report, the Bitcoin bull shares a Morgan Stanley report with his 4.17 million YouTube subscribers that says the flagship cryptocurrency will remain an asset class and is a viable alternative to gold as a store of value and the US dollar as a means of exchange.

“Do you accept fiat money where the volatility is zero, but the loss of purchasing power is guaranteed? Or would you prefer Bitcoin, where there is volatility but the gain in purchasing is guaranteed? Those are your two options.” 

Keiser adds that the king coin is close to dominating the precious metals market. He forecasts that BTC will overtake silver within a few months and get halfway to gold’s market capitalization in 2021. 

“Once it gets past gold, only the dollar is left and the thing about Bitcoin is that it is the apex predator. It is the shark in an ocean full of goldfish and or plankton, which is the US dollar. 

They print a lot of dollars but they’re not particularly robust and they are going to be decimated as Bitcoin dominates and becomes the global world reserve currency as we predicted. Morgan Stanley now is finally waking up to this.”

Keiser points out that as Bitcoin displaces gold and the US dollar, the value of the leading cryptocurrency will rise meteorically. 

“I guess it’s going a lot higher because it has to replace gold. It has to replace the US dollar. The total addressable market (TAM) for Bitcoin is $300 trillion. It’s now at $1 trillion. It’s got a 300x path to go from here. Own it or have fun staying poor.”

In other trending Bitcoin News today:

En Route to $200K? Bitcoin Closed February 26% Above Stock-to-Flow Model Price

The bitcoin price is outpacing the popular Stock-to-Flow (S2F) model, which predicts that the BTC price would eventually reach $200,000.

The S2F model forecasts the long-term price trend of Bitcoin by taking two main factors into account, namely the amount of BTC in existence (the stock) against the amount of newly mined coins entering the market (the flow).

According to the the S2F multiple, the price of Bitcoin should be hovering at around $36,851 in order for the S2F model to be on track.

Due to the recent bull cycle and Bitcoin’s strong momentum, BTC/USD is now well above the S2F estimate at around $49,000.

Saifdean Ammous, the renowned author of The Bitcoin Standard, emphasized that Bitcoin rarely diverged from the S2F model since it was created well over two years ago.

As Cointelegraph previously reported, S2F creator PlanB said that he has no doubt the price of Bitcoin would reach $100,000 by December 2021, based on the model.

In mid-2020, PlanB said Bitcoin could tap anywhere between $100,000 to $288,000 by December of next year. He said:

“People ask if I still believe in my model. To be clear: I have no doubt whatsoever that bitcoin S2FX is correct and bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!”

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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://cointelegraph.com/news/en-route-to-200k-bitcoin-closed-february-26-above-stock-to-flow-model-price

Bitcoin Analyst Sees “Aggressive” Bull Run Towards $64,000; Here’s Why