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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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MAX KEISER DOUBLES DOWN ON $220K BITCOIN PRICE PREDICTION BY YEAR-END!! BTC STILL ON TRACK TO 6X!!
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Bitcoin advocate Max Keiser, host of the Keiser Report and Orange Pill Podcast, says his BTC price target for this year remains at $220,000, despite the FUD that has crept in over the past couple of weeks.
On that, Keiser added that volatile downswings in Bitcoin are part and parcel of its nature. But on higher time frames and over its 10+ year history, it has still provided 200% annualized gains.
“We’ve been doing this for ten years, we’ve had fifteen of these corrections over the past twelve years, and this current one is an average one. Nothing special. Number two, it always shakes out the weak hands…”
In other trending Bitcoin News today: Bitcoin and Crypto Assets To Trigger Largest Redistribution of Wealth in History, Says Macro Guru Raoul Pal.
Real Vision founder and macro analyst Raoul Pal says a historic transfer of wealth is coming as money flows out of legacy finance into Bitcoin and crypto assets.
“What is happening is a parallel financial system – and even more than a financial system, it’s the new digital architecture of the world – is being built. There’s a new promised land and people are migrating across at unbelievable speed.
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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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https://cointelegraph.com/news/bitcoin-bulls-must-now-defend-33k-support-after-5-daily-loss
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NORWEGIAN INVESTMENT FIRM PURCHASED $58 MILLION IN BITCOIN FOR ITS TREASURY WITH PLANS TO ADD MORE!!
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Aker ASA, a $6 billion Oslo Børs-listed holding company is set to begin investing in Bitcoin. According to a press release issued on Monday, Aker has created a new company called Seetee AS whose mission is to invest in BTC.
The newly formed Seetee will also delve into the Bitcoin mining arena while looking to forge useful partnerships with major players in the crypto space. Indeed, Seetee has reportedly entered into a collaborative agreement with Blockstream.
According to Blockstream CEO Samson Mow, the Bitcoin infrastructure firm will work closely with Seetee on its BTC mining and sidechain implementation pursuits.
Despite the Norwegian government ending electricity subsidies to BTC miners back in November 2018, Bitcoin mining activity in the country still contributes to a significant proportion of the global hash rate distribution.
Outside China, the country ranks eight in terms of global monthly hash rate according to data from the Cambridge Bitcoin Electricity Consumption Index. As previously reported by Cointelegraph, Bitfury signed an agreement with a private equity firm to upgrade the latter’s $35 million BTC mining farm.
The press statement also revealed that the new company will look to pursue investments into other firms in the crupto and blockchain arena.
Aker will provide 500 million Norwegian Krone ($58 million) in initial capitalization for Seetee with the new company holding all of its liquid investable assets in BTC. The move marks a significant departure from Aker’s usual investments in oil exploring and marine biotech sectors. Tweeting on Friday, Seetee revealed that it has already purchased 1,170 BTC.
Commenting on the rationale for exploring Bitcoin investments, Aker CEO Øyvind Eriksen remarked:
“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort.”
Aker is the latest in a growing list of companies around the world investing in Bitcoin. From business intelligence outfit MicroStrategy to electronic vehicle manufacturer Tesla, and Canadian restaurant have converted cash reserves to BTC in recent months.
In other trending Bitcoin News today:
Bitcoin Closes Its Second-Best Week Ever: 5 Things to Watch in BTC This Week
Bitcoin (BTC) starts a new week on a firmly bullish note as stocks tumble and BTC managed to close the week above $50,000.
After a mixed performance last week that saw multiple tests of $46,000, buyer support is entering and BTC/USD is within 15% of all-time highs.
Coming in step with the stimulus announcement, local highs totaled $51,177 on Bitstamp. At the same time, positive investment news from China extended the supply shortage narrative, this focusing on institutional buy-ins reducing the already dwindling amount of BTC available for purchase on the market.
Despite failing to hold on Monday, the psychologically significant level did manage to remain for the weekly close, providing Bitcoin’s second-largest weekly close on record.
Analyzing trader behavior, Rafael Schultze-Kraft, co-founder and CTO of on-chain analytics resource Glassnode, forecast that a return below $46,600 is unlikely.
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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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Today, we announced the launch of Seetee!
We are a new company in the Aker group, and will invest in exciting projects and companies throughout the #Bitcoin ecosystem.
Bitcoin is our treasury asset. Our first purchase was 1,170 BTC and our strategy is to hodl.— Seetee (@Seetee_io) March 8, 2021
BEAUTIFUL!!!
The #BTC protocol working exactly as designed. Global FOMO kicking in. $77,000 short-term incoming.$220,000 in 2021 on track. https://t.co/j3RNb9f5Tt
— Max Keiser (@maxkeiser) March 7, 2021
This support is holding nicely.
And it got stronger! We now have a wall of 1.2M $BTC that moved on-chain between $46.6k and $48.6k.
That’s 6.5% (!) of the circulating supply.I’d be surprised if we go below anytime soon.
I was long at
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BITCOIN REBOUNDS BUT WARNINGS OF ANOTHER BTC PRICE PLUNGE ARE EVERYWHERE!! IS S2F MODEL STILL VALID?
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Bitcoin continued its bounce from its 2021 opening price on Wednesday, hitting $31,600 in what some fear is just a temporary reprieve from the downside.
BTC Bulls had successfully defended the largest cryptocurrency against further losses at just above $29,000 – the price at which the market began the year, however, concern is running high over current strength being a “relief rally” – not a true comeback after a price floor.
“It’s still ‘short the bounce’ season,” popular analyst and podcast host Nebraskan Gooner summarized to Twitter followers and veteran trader Peter Brandt concurred, suggesting that Bitcoin would need another shock leg down before the genuine return to form kicked in.
In other trending Bitcoin News today: Is Stock-To-Flow Crypto Analysis Still Valid? Coin Bureau Looks at State of Prominent Model
The S2F has traditionally been applied to commodities like gold and silver. It predicts the performance of an asset based on the idea that the price increases as the asset becomes more scarce. PlanB has used it to predict Bitcoin topping out at about $288,000 this bull run.
In a new video, the pseudonymous host of Coin Bureau says that with Bitcoin trading near the $30,000 level – about $83,000 below where the S2F suggests it should be – he agrees with PlanB that the model is in a “make or break” phase.
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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:
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