WALL STREET INVESTORS NOT READY FOR BITCOIN FOMO PHASE, SAYS BTC BULL ANTHONY POMPLIANO!!!!!

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Bitcoin bull and Morgan Creek Digital Assets co-founder Anthony Pompliano is mapping out why he believes BTC could reach $225,000 in just over a year.

In his latest letter to investors, Pompliano unveils the macro factors that may serve as tailwinds for the next Bitcoin bull market.

“The Federal Reserve has cut interest rates to 0%. They plan to keep us in a zero-rate environment for the foreseeable future. Multiple stimulus packages in 2020 now total more than $3 trillion in QE. We have another $2 trillion on the way…

The combination of the Fed’s asset price manipulation and inflation fears has driven gold and Bitcoin to drastically outperform equities and other commodities.”

The Bitcoin advocate also highlights that Wall Street has “woken up to the Bitcoin trade,” which Pompliano says has increased demand for BTC.

“We are also seeing a new trend emerge where corporations are using Bitcoin as a reserve asset for part or majority of their treasury. It started with publicly traded digital asset focused firms like Galaxy Digital and others.

Then we saw MicroStrategy ($1.2B+ market cap on NASDAQ) put 85% of their $500M balance sheet ($425M) into Bitcoin. And most recently, financial technology company Square announced that it had purchased about $50M of Bitcoin for their balance sheet (approximately 1% of assets).”

As the demand outlook for BTC remains strong, says Pompliano, he shifts his focus to the supply side of the equation.

He refers to the most recent Bitcoin halving, which reduced the number of new BTC entering circulation from 1,800 to 900 per day.

“Historically, these supply shocks have led to significant price increases of 20X+ in the following 18 months post-halving.”

In addition to the increasing demand and decreasing BTC supply, Pompliano highlights a key factor that he says solidifies the bullish argument for Bitcoin – the fact that more than 60% of all mined BTC has not switched hands in more than a year.

Pompliano says this shows investors are refusing to sell despite several major moves to the downside in 2020.

With his investment thesis in place, Pompliano predicts that Bitcoin could touch $225,000 by the end of 2021. 

“Many investors will look at the historical price increase of the digital asset and believe they ‘missed it.’ That couldn’t be further from the truth in my opinion. I believe we are at the start of another boom cycle in Bitcoin, which is likely to drive us 10-20x higher in the 15-month window.”

In other trending Bitcoin News today:

‘Still So Early’ – 7% Of Americans Have Bought Bitcoin, Study Finds

According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC).

This means current investors in BTC are still in an early stage of growth. Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the “birth” phase of a new asset class. He wrote:

“It’s still so early for Bitcoin. Still at the birth of a new global asset class.”

In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold.

If so, investors anticipate its valuation to increase exponentially over the next decade.

Currently, the majority of the demand for Bitcoin comes from investors that perceive BTC as gold 2.0. Investors believe BTC would eventually establish itself as a safe-haven asset.

Consequently, institutional investors have heavily accumulated BTC in recent months.

MicroStrategy and Stone Ridge, for instance, purchased $425 million and $110 million worth of Bitcoin, respectively.

But if the retail demand for Bitcoin picks up in tandem across major regions, it could cause BTC to grow exponentially.

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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:

Anthony Pompliano Announces He Has 80% of His Capital in Bitcoin

https://pomp.substack.com/p/the-investment-case-for-bitcoin

https://cointelegraph.com/news/still-so-early-7-of-americans-have-bought-bitcoin-study-finds

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Macro investor and Real Vision CEO Raoul Pal is unveiling his huge Bitcoin (BTC) and Ethereum (ETH) price predictions for the end of the crypto bull cycle.

The macro guru unveils where he thinks Bitcoin and Ethereum will be, both at the end of the year and at the end of the current bull market cycle.

“I think Bitcoin, somewhere north of $200,000, and ETH closer to $15,000, but I think we finish the cycle with Bitcoin close to $400,000 and ETH closer to $40,000.”

Pal’s targets for BTC and ETH imply a 400% and 966% gain, respectively, from current values of the two largest crypto assets.

In other trending Bitcoin News today: Bitcoin RSI strength suggests BTC price is still far from its cycle top!

Bitcoin has barely started its run to new all-time highs if its relative strength index (RSI) repeats historical behavior.

TechDev previously forecasted a potential top for this cycle lying between $200,000 and $300,000 — again based on mathematical phenomena, notably Fibonacci sequences, which have also characterized every bull run.

Bitcoin O.G. Max Keiser has said that the Bank of England (BoE) will scramble to buy Bitcoin before the digital asset trades at $1 million per BTC.

The host of the Keiser Report and Orange Pill Pod, Max Keiser responded to the Bank of England’s deputy governor’s recent warning about cryptocurrencies in a statement to Express.co.uk.

“Bitcoin is designed to trigger a meltdown of the current fiat money banking system. This is a mathematically guaranteed outcome.

The bargaining phase will be their central bank digital currency stage and when that fails comes depression as the price tops $500,000 and then acceptance with the Bank of England scrambling to buy Bitcoin before it tops $ 1million per coin.”

In other trending Bitcoin News today: Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF!

On Oct. 17, Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund.

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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/bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top

https://cointelegraph.com/news/analysts-predict-valkyrie-will-launch-bitcoin-futures-etf-this-week

https://cointelegraph.com/news/all-bears-will-die-bitcoin-metric-prepares-to-flip-green-for-the-first-time-in-6-months

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Crypto Titan Dan Moorehead, the CEO of Pantera Capital remains bullish on the Bitcoin price, which he notes BTC goes up, on average, a little more than 200% per year, despite the “manic” bull and bear runs that grab the headlines.

Based on his firm’s stock-to-flow analysis of previous halvings, Morehead says Bitcoin is projected to hit $115,000 by next August.

While he cautions that he wouldn’t necessarily take even odds on BTC actually surpassing that figure in 12 months, he does say it’s “definitely pretty possible.”

The CEO is more confident Bitcoin will crack $100,000 in two years’ time, comparing it to an early-stage venture investment opportunity that only looks different because it has real-time pricing.

Still, he warns investors to put in only as much capital into BTC as they can afford to lose and then “hold it for 10-15 years.”

In a new interview with Thinking Crypto, Dan Morehead says the company’s largest allocation is in Bitcoin, followed by Ethereum.

After that, Morehead lists Polkadot, Filecoin, Augur and 0x as other altcoins with large allocations at the firm.

In total, Pantera manages $600 million worth of assets in the crypto space, and the CEO says he personally invests in the firm’s capital funds.

He believes there is an inefficiency in the market that fails to completely price in the impact of Bitcoin’s halvings before they happen.

“Over the past two halvings, there have been very clear positive impulses. They start about a year and a quarter prior to the halving and they go for about 440 days after the halving. And what’s typically happened is the markets have gone up a bit into the halving, and then after the halving, over the next 440 days, they go up a ton.” 

Morehead says the crypto market is benefiting from significant changes in custody offerings, which offer institutional investors more ways to safely store their assets.

In other trending Bitcoin News today:

Chainlink Rival Band Protocol Surged 65% Overnight – 3 Reasons Why

Band Protocol (BAND), a rival blockchain network to Chainlink (LINK) — which is also at an all-time high — surged by 65%. Within 24 hours, BAND rose from $4.825 to $8, setting a new record high.

Three major catalysts appear to have triggered the rally of BAND, namely the DeFi (decentralized finance) boom, Coinbase listing and new partnerships. Since June 1, the total value locked in DeFi protocols increased from $1.04 billion to $4.47 billion.

The valuations of DeFi-related project tokens has risen substantially as the capital involved in the DeFi space surged by more than four-fold.

Band Protocol, like Chainlink, is a blockchain network for oracles. DeFi protocols rely on oracles to retrieve market data, as they cannot access raw data from other blockchains or websites.

As such, oracles are critical to the success of DeFi applications. As the DeFi market is rapidly expanding, the demand for oracles is also increasing in tandem.

DeFi projects technically could make their own oracles but it requires time and resources to develop them. That is where oracles like Band Protocol and Chainlink come in.

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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/bitcoin-price-en-route-to-new-2020-high-once-bulls-break-118k-resistance

https://cointelegraph.com/news/chainlink-rival-band-protocol-surged-65-overnight-3-reasons-why