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Crypto analyst Justin Bennett expects that crypto investors will face much more volatility in the weeks ahead and warns some traders will be shaken out of the market. Bennett argues that the recent Bitcoin crash in BTC price was driven by wealthy players who now have an opportunity to increase their positions in the flagship cryptocurrency.
In other trending Bitcoin News today: BTC Crash Reveals Resiliency of Crypto Markets, Lack of Systemic Risk, Says Macro Guru Raoul Pal! The former Goldman Sachs executive says the crypto industry largely absorbed the downtick in price without punishing anyone but speculators.
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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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Best Places to Earn Interest on Your Cryptocurrency | Bitcoin Bears Target ,000
âĄïžÂ $274 Million Secret: Larry Benedict Live Event (Register Below)
http://trade.cryptonewsalerts.netBitcoin price just had a nice pump to $7,686 and is currently sitting at $7,458 after the Cryptocurrency market trading sideways over the past few days.
Bitcoin bears target BTC price at $5,000. Cointelegraph contributor Benjamin Pirus wrote that after BTCâs corrective bounce up to $7,875 last week, Bitcoin was unable to shake its larger downtrend.
Instead, it headed back down to the $7,300 trading region.
Pirus added that BTC could ultimately drop to a trading price near the $5,000 price mark, as its charts look mostly bearish at present.
In other Crypto news, how would you like to earn interest on your Bitcoin (BTC) and Crypto assets?
In a little under a year, DeFi has become a significant component of the cryptocurrency ecosystem.
But which platforms pay the most interest? Decentralized finance is often hailed as a prime use case for digital assets.
Lending practices among DeFi platforms follow similar patterns: loans are overcollateralized, meaning the risk of default is negligible and lending is more responsible than that of the fractional reserve banking system used by legacy lending institutions.
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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/market-mostly-trades-sideways-as-bitcoin-price-hovers-around-7-300
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Another Top Investor Expects the Bitcoin Price to Erupt to ,000 in 2020 | BTC 4,000% Rally Signal
âĄïžÂ Teeka Tiwari â Investment of the Decade:  http://2020.cryptonewsalerts.net
For the umpteenth time this month, Bitcoin price failed to hold above the $10,000 resistance on June 10th.
Prominent investors in the cryptocurrency space, however, remain bullish on BTC due to a confluence of macroeconomic factors.
They say that in 2020, thereâs a high likelihood Bitcoin revisits its all-time high price of $20,000.
A rally to $20,000 would mark a 112% rally from the current BTC price of $9,400.
Morgan Creek Digital partner Jason Williams believes that Bitcoin will hit $20,000 by October.
He argued in a recent tweet that such a performance would be âWorld Classâ in such a relatively short time frame.
This is a slight adjustment made to a forecast of $20,000 by September that the crypto fund manager shared with the International Business Times in May.
â20k bitcoin by October. 2x is World Class in this timeframe. Remember that. I canât stop looking at the next 7 days.â
In the tweet, the prominent Bitcoin investor didnât elaborate on what evidence there is to back this prediction.
Yet in previous interviews, he has alluded to why he expects BTC to rally upwards of 100% in the coming four to five months.
Speaking to Thinking Crypto in May, Williams shared his opinion with the interviewer that he believes that the cryptocurrency industry is in a similar position to the internet/digital industry in the mid-1990s.
Thatâs to say, Bitcoin has a vast amount of upside in the coming years, potentially making $20,000 just the start of a larger rally.
Williamsâ partners Mark Yusko and Anthony Pompliano are arguably even more bullish.
The other Morgan Creek Digital co-founders see the confluence of massive money printing by central banks and the block reward halving as ârocket fuelâ for BTC.
Williams is not the only investor in the industry expecting a $20,000 Bitcoin in 2020.
BitMEXâs chief executive, Arthur Hayes recently said that his âend of 2020 price target remains $20,000.â
He argued in a March newsletter that central banks will dramatically bolster BTCâs value proposition, driving prices higher as investors acknowledge that.
Dan Morehead of Pantera Capital echoed this to a T, writing in a March newsletter that in a world where the value of fiat money is being constantly debased, the scarce Bitcoin stands to benefit:
âNow that weâre in the trillions, the deficit just simply has to have a positive impact on the price of things not quantitatively-easable â stocks, real estate, cryptocurrency relative to the price of money.
Said another way, the BTC/USD cross-currency rate will rise.
The price of bitcoin may set a new record in the next twelve months.â
In other trending Bitcoin news today:
Bitcoin Will Soon See the Exact Same Signal That Marked the Start of a 4,000% Rally
A prominent trader shared the chart below on June 13th, showing that Bitcoinâs two-week relative strength index (RSI) is about to break past a downtrend formed in the wake of the rally to $20,000.
This is important as the last time the two-week RSI looked as it did now was at the start of BTCâs previous bull run, prior to a ~4,000% move from ~$500 to $20,000.
The RSI breakout isnât the only trend that has analysts believing that the start of a macro uptrend is on the horizon.
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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:
Another Top Investor Expects the Bitcoin Price to Erupt to $20,000 in 2020
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BITCOIN PRICE MAY RALLY 4,900% AND HIT 0,000 SAYS TOM LEE! | BTC Returns Above K, Here's Why
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Bitcoin Price May Rally 4,900% and Hit Half a Million Dollars, Says Fundstrat Analyst Tom Lee â Hereâs How
The head of research at Fundstrat Global Advisors, Tom Lee, says Bitcoin (BTC) could rise to half a million dollars in the long run.
In a new interview with Nasdaq, Lee says he stands by his view that the BTC price will hit $40,000 before the Dow Jones hits 40,000.
When asked if Bitcoin will hit $500,000, Lee says he believes a 4,900% increase is possible based on the number of users that ultimately join the network.
âI think in the long term itâs possible because today Bitcoinâs transaction activity is twice that of PayPal, 7x the Discover network. Itâs the second-largest transaction network after Visa, and thereâs four billion Visa card holders. So if you get to five million Bitcoin users, itâs almost 100x increase in price.â
As for the timeline for such a meteoric rise, Lee says heâs unsure and doesnât have a crystal ball.
But he does think Bitcoin has a strong use case in the current financial system.
âItâs not like Iâm necessarily critical of how financial systems work, but too much money is paid to intermediaries. Today, roughly 6% of all GDP globally is paid to the financial system to manage trust. Bitcoin has been around for 11 years, has never had a single fraudulent activity on its blockchain with $5 trillion of activity. So it works better than the traditional financial system and the cost is vastly lower. Today, you can transmit a million dollars of Bitcoin between countries for $15. That same transaction using remittance counterparties would cost you 5 to 10% of that â $50,000 to $100,000.â
BITCOIN PRICE RETURNS ABOVE $10K, HEREâS WHY:
Bitcoinâs recent golden cross on the daily chart may have driven bullish enthusiasm for the leading crypto to reach a tipping point.
With the upcoming halving, many investors are buying up sub 10K BTC in preparation of the supply-side shock.
Many crypto analysts have predicted when we will never see BTC price under 10K again, but with the golden cross, it may actually be the final catalyst to push Bitcoinâs price into 5 figures permanently.
Bitcoin is often referred to as a deflationary currency due to itâs ever decreasing emission schedule of new coins.
Eventually the economic law of supply and demand will have its impact on Bitcoinâs existing supply, and its decreased production of new coins, causing a rise in prices overall.
As BTC rises in price, we can expect Altseason to really kick into overdrive, due to their heavy correlation with Bitcoinâs price.
We have already witnessed many traders diversifying into alts as BTC dominance has dropped over the last few weeks, dramatically.
Many altcoins have already been outperforming Bitcoin so far this year, acting as leading indicators for the largest market cap coin.
Smart money has been silently taking positions in both Bitcoin and Alts, while prices were down during the crypto winter.
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Trezor: âș http://trezor.cryptonewsalerts.net
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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://www.nasdaq.com/videos/marketbrief%3A-the-bull-case-for-bitcoin
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