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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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BITCOIN PRICE TO âTRADE AGAIN AT K SOONâ | XRP Price Will Fall All The Way to $.03?!
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http://trade.cryptonewsalerts.netIt is looking increasingly likely that the recent Bitcoin price dip to lows of $6,500 will mark a long-term bottom for the cryptocurrency, as its bulls have been able to propel its price higher and sustain their momentum, with the Bitcoin (BTC) price now targeting a movement to $8,000.
Analysts are now noting that Bitcoin is clearly shifting its recent downtrend in favor of its bulls, which may mean that significantly further upside is imminent for the cryptocurrency.
Alex KrĂŒger, a popular economist who focuses primarily on cryptocurrencies, explained in a recent tweet that he believes Bitcoin is currently expressing signs of showing a clear long-term bottom. âMy current $BTC roadmap. Should be obvious why I believed $8000 âwill trade again soonâ, itâs where downtrend accelerated. The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive. Nothing to chase if not long IMHO,â he explained while pointing to a couple charts seen in the below tweet.
In other Crypto news todayâŠ
Accurate trader calls for a $1,000 Bitcoin and destruction of Crypto industry.
Whatever the case may be, one crypto analyst who has made a string of accurate calls in the past, is now saying that Bitcoin will go âto the $1,000 range.â
The analyst explains that this would be âgood for cryptoâ as it would âdestroy investors and projects,â claiming thatâs exactly what the space needs. He also tweeted the following regarding the Ripple XRP price, âWhile I love XRP (and I do believe that it is superior to all other cryptocurrencies) if BTC falls to the 1000 range as Iâm currently anticipating, I think XRP could simultaneously fall to 0.03. I hate to report that, but thatâs what the charts suggest, if BTC falls to 1000.â
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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:
Some ways to determine an asset is in a bull market:â· Percent from bottom before equivalent drop from top, e.g. 20% for stocks, say 50% for bitcoin.â· Moving averages, e.g. price>200DMA, 50DMA>200DMA.â· Price relative to key levels, e.g. above X.
â· Rise over X time.
â Alex KrĂŒger (@krugermacro) July 27, 2019
My current $BTC roadmap. Should be obvious why I believed $8000 “will trade again soon”, it’s where downtrend accelerated.The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive.
Nothing to chase if not long IMHO. pic.twitter.com/uPzJpKqd6f
â Alex KrĂŒger (@krugermacro) November 29, 2019
$BTC gameplanNo need to overthink it, if we break $7.4k I’ll be looking for longs.
Really hope we find the strength to do so, not necessarily for the increase in price, but to get the chance to play such clean levels again. pic.twitter.com/3Tkpo5mbNi
â HornHairs đ (@CryptoHornHairs) November 27, 2019
Accurate Trader Calls For $1K Bitcoin and Destruction of Crypto Industry
Bitcoin is a Clear Long After Forming Textbook Bottom, Claims Analyst
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BITCOIN PRICE CAN HIT $29K NEXT WARNS CNBC CHARTMASTER!! TOM LEE UPS HIS YEAR END BTC TARGET BY 25%!
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Bitcoin (BTC) could drop to $29,000 and still be testing current support in line with past dips, claims CNBCâs âChartmaster.â In an appearance on the networkâs Fast Money segment on Monday, Carter Worth, chief market technician of Cornerstone Macro, warned that the BTC bottom may be far from in with a 55% correction from all-time highs still on the table.
In other trending Bitcoin News today: Teslaâs Abrupt Bitcoin Reversal Could Be Game Changer for BTC, According to Fundstrat Analyst Tom Lee!
Despite Bitcoin losing about 20% of its value since Tesla halted its use as a means of payment, Lee has upgraded the flagship cryptocurrencyâs price target by 25%. From his initial forecast of $100,000, the Fundstrat managing partner and head of research now expects Bitcoin to hit $125,000 by the close of 2021.
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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-price-could-hit-29k-next-warns-cnbc-chartmaster
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BITCOIN HITS NEW ALL-TIME HIGH!! THIS METRIC SUGGEST BTC CAN GO AS HIGH AS 0K THIS BULL RUN!!
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Bitcoin price has officially reached a new all-time high on Dec. 1 above $19,892 after nearly three years, according to data from Coinbase and Tradingview.
Despite the Thanksgiving crash last week, BTC price has managed to rebound throughout the weekend. Bitcoin then easily passed the $19,000 mark on Monday to reach its all-time high, albeit on a couple of exchanges.
There are three key trends that fueled BTCâs rise from sub-$3,600 in March to over $19,892. These include the rise in institutional demand, lower selling pressure, and the resilience of Bitcoin throughout 2020.
Most on-chain data points show that the demand for Bitcoin from institutions has been rapidly increasing.
In November, Grayscale recorded all-time high net inflows, and the CME Bitcoin futures market saw its open interest climb near $1 billion.
Grayscale, in particular, said that more institutions invested in cryptocurrencies during the third quarter of 2020 than ever before.
The figures Grayscale sees are important to gauge the institutional interest in Bitcoin because the Grayscale Bitcoin Trust is typically the first point of entry for most institutions to gain exposure to BTC.
In the United States, there is no exchange-traded fund (ETF) for Bitcoin and other major cryptocurrencies. Hence, the Grayscale Bitcoin Trust is the closest investment vehicle to an ETF in the U.S. market. The Grayscale report read:
âMore institutions invested in 3Q20 than ever before and have increased their average allocation from $2.2 million in 3Q19 to $2.9 million in 3Q20. Institutions that are comfortable with multiple products within the Grayscale suite of products, have averaged nearly double the commitments of single-product investors during 3Q20.â
As Cointelegraph reported in August, MicroStrategy purchased $450 million worth of BTC, adopting Bitcoin as its primary treasury asset. This was likely the spark that triggered the current wave of institutional demand for the digital store of value.
In other trending Bitcoin News today:
This Metric Suggests Bitcoin Price Can Go As High As $590K This Bull Run
The current Bitcoin (BTC) bull run could send BTC/USD as high as $590,000, one indicator forecast this week.
Curated by on-chain analytics resource Glassnode, the Net Unrealized Profit/Loss (NUPL) index has reached a level that has historically launched the Bitcoin price an order of magnitude higher.
The latest bull signal was noticed and uploaded to social media by the companyâs chief technical offier, Rafael Schultze-Kraft, on Nov. 30. At the time, BTC/USD was already making new all-time highs on several exchanges.
NUPL currently resides at 0.62. Previously, reaching this level has begun an uptrend that only reversed once Bitcoin hit a new price range.
In 2011, the price expanded by a record 3,000% after the NUPL event, while in early 2013 it expanded 800% and another 600% later that year. In 2017, the year which delivered Bitcoinâs previous all-time high, there were 1,200% gains.
NUPL measures the proportion of coins in the network that are in profit versus those that are not. Built around a neutral zero value, the closer the index gets away from it, the more the network is in profit. Negative readings likewise signify majority losses.
âNUPL is at 0.62 and predicts tops at 0.8+,â Schulze-Kraft explained alongside an annotated chart.
A 0.8 reading or higher this time around thus opens the door to BTC/USD topping out at anywhere between $133,000 and $590,000.
âJust getting started,â he concluded.
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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:
đŽ My fellow bitcoiners, the bull market is upon us. Like clockwork November red dot closed above all other red dots .. at $19,700 .. a new #bitcoin ATH. This is just the beginning. We will see volatility (e.g. -35%), but also new ATH’s. Enjoy the ride!đđđ pic.twitter.com/27fmkCOoEY
â PlanB (@100trillionUSD) December 1, 2020
https://cointelegraph.com/news/tyler-winklevoss-tells-cnbc-that-cash-is-trash
https://cointelegraph.com/news/bitcoin-price-hits-new-all-time-high-as-crypto-market-matures
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