WARNING: MORE EXTREME VOLATILITY INCOMING!! BITCOIN CRASH REVEALS RESILIENCY OF CRYPTO MARKETS!!

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Bloomberg Intelligence commodity strategist Mike McGlone says Bitcoin is set for a major breakout, with the leading cryptocurrency targeting $13,000 in the near term.

McGlone says he expects weeks of consolidation to end as Bitcoin’s volatility hovers at a level where big breakouts tend to erupt.

“Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance — The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold.”

In other trending Bitcoin News today:

At This Rate Grayscale Will Own 3.4% of All Bitcoin by January

Grayscale Investments has added 19,879 BTC to its Bitcoin Trust in the last week, purchasing Bitcoin faster than the tokens can be mined.

Grayscale Investments has purchased almost half a billion dollars in Bitcoin since the May block reward halving, and this week bought BTC around three times faster than miners could produce blocks.

According to a June 25 tweet from crypto analyst Kevin Rooke, the investment firm bought 19,879 Bitcoin (BTC) — $184 million worth — in the last week for its Bitcoin Trust, bringing its total number of coins to roughly 400,000.

“Unbelievable. Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving). Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving). That’s almost 400,000 BTC under management for $GBTC”

Rooke stated that not only is Grayscale buying massive amounts of the cryptocurrency, but it’s now doing so at a rate roughly 280% of the new Bitcoin mined. 

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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:

Unbelievable.Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving).Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving).

That’s almost 400,000 BTC under management for $GBTC pic.twitter.com/aMtSGHZnz2

— Kevin Rooke (@kerooke) June 25, 2020

#Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance —
The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold. pic.twitter.com/2CqGEx95JS

— Mike McGlone (@mikemcglone11) June 26, 2020

Coinbase Will Now Pay You to Learn About These Five Altcoins

https://cointelegraph.com/news/at-this-rate-grayscale-will-own-34-of-all-bitcoin-by-january

https://dailyhodl.com/2020/06/27/mike-mcglone-calls-major-bitcoin-breakout-but-analysts-warn-btc-eth-and-xrp-will-likely-tumble-before-bull-run-begins/

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

The CEO of digital payment platform Abra says Bitcoin could break $250,000 before year’s end, but he also thinks that the crypto markets are overdue for a healthy correction.

On a new episode of What Bitcoin Did with Peter McCormack, Bill Barhydt says he’s looking for potential resistance at the $60,000 level before a massive BTC correction ensues.

“If I look at the tea leaves, we haven’t had a 30% pullback since we went back down to $30,000 when we first got up to $44,000, $43,000, whatever it was, so we’re due for that. If I had to guess, I would say if you look at the upward slope that we’ve been on since December, depending upon how fast we get there, if it’s in February, we could top out just below $60,000 and then easily fall 30% and that would actually wind up the rubber band to probably go to $85,000 to $90,000. That would take us probably through August which if you look at stock to flow (S2F), it’s basically said that’s around the time it should happen and it’s uncanny, I mean it really is uncanny how accurate that model has been.”

Although Barhydt is short-term bearish on Bitcoin, he predicts that the largest crypto asset has more upside potential but its bull market peak may all depend on the rate of adoption of big corporations.

“What’s interesting is once you get to that August timeframe when you start to approach $100,000, PlanB’s two models diverge. Because he’s got the one model, the original stock to flow which says we’re at $100,000 for 24 months basically. And then he’s got his cross-asset model which basically talks about the next phase which says, ‘Hey we get up to $250,000 this year…’

Last December, when I went on, I think, your show and I talked to [Anthony Pompliano] and others, I basically said I think Bitcoin is going to be at $100,000 by the end of 2021. I still think that’s right but I think that if we get a bunch of other Fortune 500 companies making announcements like Tesla, that is going to push this up to a quarter of a million very quickly.”

In other trending Bitcoin News today:

MicroStrategy Prepares To Purchase $1,030,000,000 in Bitcoin After Completing Debt Offering

Business intelligence firm MicroStrategy is gearing up to make an additional purchase of $1.03 billion worth of Bitcoin.

In a new post on the company’s website, the publicly-traded firm announces that is wrapping up its offering of convertible notes in an effort to acquire more funds to buy Bitcoin.

The offering, which closed on February 19th, allows qualified institutional investors to purchase unsecured notes from MicroStrategy which have a maturity date of February 15th, 2027.

MicroStrategy reports earning approximately $1.03 billion from the sale of its notes and plans to use the entirety of those funds to purchase more Bitcoin.

“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy.

MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin.”

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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:

“They say #Bitcoin is the ‘Big Bang’ of money b/c you can only do it once. That’s one of the attributes of it. There’s no imitators to ever come along. You can only create absolute scarcity once, you can only create the multiverse once with the Big Bang.”-@MaxKeiser 🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 21, 2021

If I were to actually buy some #Bitcoin, how would I know when to sell? If your answer is to never sell, then what is the point of buying in the first place?

— Peter Schiff (@PeterSchiff) February 21, 2021

https://cointelegraph.com/news/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

Determining the true Bitcoin value can be more complicated than simply looking at the current BTC market price.

“Most Bitcoins already cost at least $100,000, but probably more like $10 million,” said Michael Goldstein, also known as Bitstein, in an Aug. 17 tweet. 

While the Bitcoin price sits around $12,000 at this time, many folks in the crypto industry likely value the asset at a much higher price tag.

If someone buys a BTC at $10,000, but is unwilling to sell it until the asset reaches $100,000, then the price tag of that Bitcoin is naturally much higher than its current market value.

This then begs the question: How many Bitcoin are currently worth $100,000?

At the start of the year, 64% of Bitcoin’s circulating supply had remained in the same wallets since 2018, which seems to suggest that most BTC has a higher valuation than current market prices indicate.

According to Goldstein, many of Bitcoin’s largest bag holders value the asset between $100,000 and $10 million.

These numbers sit in line with a bevy of price predictions from various authorities over the years.

On March 5, 2020, Bitcoiner Max Keiser predicted Bitcoin shooting up to $100,000 in 2020 as fueled by COVID-19 repercussions.

Other notable names across the industry also predicted prices above $100,000 for Bitcoin at some point, including Morgan Creek Digital co-founder Anthony Pompliano, BTC stock-to-flow model creator PlanB, and cryptographer Adam Back, among others.

In other trending Bitcoin News today:

Million-Dollar Bitcoin Whale Says Traders Should Track Two Altcoins in Addition to BTC

An outspoken Bitcoin whale who rarely shows affection for anything other than BTC says two crypto assets have potential.

The pseudonymous trader known as Joe007 says UNUS SED LEO (LEO) may be a solid pick for investors looking to diversify their crypto portfolio.

“In a sane world, extremely low correlation by LEO would make it a desirable diversification instrument when it comes to constructing crypto portfolios. But of course, crypto traders are too busy chasing the latest shitcoin-du-jour pump to even take a notice.”

LEO is an ERC20 utility token that operates on the Ethereum and EOS blockchains.

LEO holders enjoy multiple benefits on the crypto exchange Bitfinex including taker fee reduction, lending fee reduction, and discounts on crypto and fiat deposits and withdrawals.

Joe, who is known for placing large bets on the crypto exchange Bitfinex, says another coin on his list is Binance Coin (BNB).

The trader says the token offers a use case that sets it apart from other crypto assets.

Binance Coin is a utility token issued by crypto exchange Binance. BNB holders get discounts when using the coin to pay for trading fees on Binance and Binance DEX.

Holders can also use BNB to pay for goods and services to select merchants.

Because demand for both BNB and LEO is driven in part by the performance of their respective crypto exchanges, Joe says they have an additional potential use case aside from simply being a digital form of money.

“I wouldn’t consider LEO or BNB shitcoins, actually – as they are not trying to be money (‘coins’) in the first place. If anything, they are equity-like centralized crypto assets.”

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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:

It’s an interesting thought experiment. What is the closest price it would take for you to sell all your bitcoins right now, on the condition you could never own any ever again?

— Senuto Cryon (@senutocryon) August 18, 2020

Most bitcoins already cost at least $100k, but probably more like $10 million.

— Michael Goldstein (@bitstein) August 18, 2020

ICYMI: #bitcoin is nicely moving away from 200 week moving average. 200WMA is currently $6400, is increasing $200 per month, and has never decreased. Best of all, BTC monthly close has never been below 200WMA. pic.twitter.com/c21W1kVDiv

— PlanB 🔴 🔴 🔴 (@100trillionUSD) August 19, 2020

https://dailyhodl.com/2020/08/18/crypto-strategist-says-this-large-cap-altcoin-is-about-to-outperform-bitcoin-with-175-upside-potential/

https://dailyhodl.com/2020/08/19/million-dollar-bitcoin-whale-says-traders-should-track-two-altcoins-in-addition-to-btc/

https://cointelegraph.com/news/98-of-all-bitcoin-is-now-worth-more-than-when-you-bought-it

https://cointelegraph.com/news/a-critical-mass-of-long-term-btc-hodlers-seem-to-be-making-100k-inevitable