WILLY WOO PREDICTS BITCOIN BETWEEN $300K-$400K BY DECEMBER, MAYBE HIGHER BASED ON HIS TOP-CAP MODEL!

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Bitcoin evangelist Max Keiser says that BTC has the potential to become the new base layer currency and replace the entire $5 trillion foreign exchange (FX) market.

In an episode of the Keiser Report, the Wall Street veteran takes note of Citibank’s recent report that argues Bitcoin has an advantage in global payments due to its decentralized, deflationary, and secure nature, which are characteristics that put the flagship cryptocurrency in a position to go mainstream.

Keiser highlights that Bitcoin’s advantages as a medium of exchange in global payments are already making banks, including Citibank, obsolete.

“It’s happening right now because the transaction is the settlement, so you don’t need Citibank. It obviates Citibank. It makes Citibank redundant, as are all banks, redundant with Bitcoin. I can trade with you as a currency and it doesn’t require any bank. It doesn’t require a central bank.”

While the Citibank report sees Bitcoin as having evolved from a form of payment to a store of value, Keiser believes it is the other way around.

“And they got it a little bit reversed. They’re saying it started off as a means of payment and people are looking at it as a store of value, but in fact, it started off as a store of value, and now it’s morphing into a means of payment. That’s the whole history of money. So Citibank should know at least the history of money and how money comes into existence but nevertheless, a good effort and I applaud them for at least recognizing that they’re about to go out of business.”

As BTC is starting to be viewed as a more neutral and better settlements layer, the Bitcoin firebrand sees the world’s leading cryptocurrency as something that could supplant trillions of dollars worth of foreign exchange activity.

“Right there’s what, $5 trillion a day in the forex market, foreign exchange, and that could be completely replaced with Bitcoin as the base layer. We’ve seen that demonstrated now buy sending currency from country to country, starting off in one currency, arriving at the destination in that local currency instantaneously, virtually at no cost.”

In other breaking Bitcoin News today:

India To Introduce All-Out Cryptocurrency Ban Targeting Miners and Traders

India is reportedly gearing up to introduce a bill that will criminalize the trading, holding, and mining of cryptocurrencies.

Reuters cites a senior government official familiar with the matter who says the proposal seeks to fine anyone issuing, holding, trading, and transferring crypto assets.

The bill would give owners of cryptocurrencies half a year to sell their digital asset holdings. After the grace period, crypto holders would face penalties.

According to Reuters, government officials are optimistic that the bill will be passed as Prime Minister Narendra Modi’s allies control the parliament.

The report adds that the bill would only ban the private use of digital assets while harnessing the blockchain, the technology powering cryptocurrencies, would still be legal. The source also said that the government will take a “calibrated” approach in penalizing those who fail to liquidate their crypto assets within the six-month period.

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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:

#BITCOIN IS AN INALIENABLE HUMAN RIGHT

Indians can easily (and should) ignore the government and keep stacking sats per their human rights. India could be the first country #Bitcoin dissolves. $220,000 in 2021 incoming. https://t.co/7bbZVuZ1jN

— Max Keiser (@maxkeiser) March 15, 2021

https://cointelegraph.com/news/3-reasons-bitcoin-fell-6-in-4-hours-is-the-btc-rally-weakening

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A prominent crypto trader and analyst says it is not yet too late for investors to jump into Bitcoin (BTC).

Based on Kaleo’s chart, Bitcoin is taking a page out of its 2017 bull market where it consolidated below $2,000 before surging to its previous all-time high of $20,000.

This time, the trader believes Bitcoin is setting the stage for a meteoric ascent that would catapult BTC to $250,000 by July 2021.

As for altcoins, the pseudonymous trader shares three alts that he says have the potential to spark major rallies.

Crypto Kaleo says fellow traders are underestimating Litecoin (LTC). He believes the coin often dubbed as digital silver is poised to follow its 2017 bull rally and generate gains of over 1,000% from its current price of $203.

“LTC 2017 fractal. If this plays out, there’s still time to accumulate, but you see why it’s worth it to slowly stack… 

Now is the time to stack LTC. Litecoin has vertical moves, usually from points of max pain vs. BTC. When it finally goes off, it’ll move faster than you have time to FOMO into it. Buy a little each day now. Thank yourself later.”

Another coin on Kaleo’s radar is Chainlink (LINK).

The trader believes the decentralized oracle network will follow the footsteps of Solana (SOL), which more than doubled its value in a span of a few weeks.

“LINK SOL.”

The third coin on Kaleo’s list is Algorand (ALGO), a project that aims to develop a blockchain that’s scalable, secure, and decentralized.

He says the crypto asset is gearing up to pull off a 242% rally to $6.00 from its current price of $1.75.

“Remember the big picture. ALGO is only just getting warmed up.”

Kaleo is also invested in Stellar Lumens (XLM), Balancer (BAL), and Band Protocol (BAND).

In other trending Bitcoin News today:

Bitcoin ‘Supercycle’ May Emerge In 2021 As Fed Balance Sheet Hits New Record High

Bitcoin (BTC) is looking increasingly like it is in a “supercycle,” not just a bull cycle, statistician Willy Woo suggests.

In a Twitter exchange on Feb. 12, the popular analyst joined Dan Held, growth lead at U.S. exchange Kraken, calling the current BTC market a bull run like no other.

Held had previously explained his theory about the state of Bitcoin in 2021 — that price gains cannot be compared to past bull phases, and do not even match the end of 2017 when BTC/USD neared $20,000.

Instead, this year is looking like a bull run on a wholly different magnitude — a “supercycle” in the making for Bitcoin.

In his own observations, Woo confirmed that data pointed to retail investors returning to Bitcoin in January.

“Retail has arrived. The last 4 weeks. Welcome to the middle phase of the bull market. This one is like no other,” he wrote.

When Held suggested that the supercycle had arrived with them, he responded that 2021 would provide confirmation.

“Can answer that with more confidence in Q4. Right now it’s only fundamental narrative, need to see if the capital flows validate it,” he continued.

“The setup has me leaning towards it.”

In an update this week, Rafael Schultze-Kraft, CTO of on-chain analytics resource Glassnode, estimated that should Thermocap repeat its 2017 performance, BTC/USD could hit $110,000.

“Last bull market, $BTC was at ~$8,500 when Marketcap to Thermocap was at the current levels – and surged another 135% to the top in just a month. Things can go fast,” he tweeted.

“Yea this time’s different, but just in case: 135% from here is ~$110k.”

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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:

#Fed balance sheet has hit a fresh ATH of $7.44tn last week, equivalent to 34.7% of US GDP. Fed’s balance sheet is smaller than #ECB’s, at 70.7% of GDP, and much smaller than those of SNB or BoJ where total assets are >100% of GDP. pic.twitter.com/bTQCsmTGYL

— Holger Zschaepitz (@Schuldensuehner) February 12, 2021

https://dailyhodl.com/2021/02/13/top-trader-says-hes-stacking-six-altcoins-predicts-bitcoin-will-approach-250000-by-july/

https://cointelegraph.com/news/bitpay-integration-brings-crypto-payments-to-apple-pay-s-380-million-users

https://cointelegraph.com/news/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high

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‘Tis the season of Bitcoin price predictions.

Only days after Nexo co-founder Antoni Trenchev made the case for a $50,000 BTC price in 2020, Bitpay Chief Commercial Officer Sonny Singh has also shared his belief that Bitcoin (BTC) will hit a new all-time highs this year.

Notably, Singh shared what turned out to be a correct prediction that Bitcoin would get close to $15,000 in 2019 with Bloomberg a little more than a year ago.

“This year, I’m going to make a prediction,” Singh told Bloomberg’s Taylor Riggs on Wednesday.

“I think Bitcoin passes the all-time high and goes passed $20,000 this year.”

In other Crypto news today, Elon Musk dropped a Bitcoin Bomb on Crypto Twitter… again.

In an innuendo-filled tweet, the chief executive of both SpaceX and Tesla joked that Bitcoin is “*not* my safe word.” (If you don’t know what “safe word” means, please search it up.)

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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:

Bitcoin is *not* my safe word

— Buff Mage (@elonmusk) January 10, 2020

Elon Musk Just Dropped the Bitcoin Bomb On Twitter, Again

https://www.forbes.com/sites/ktorpey/2020/01/03/why-the-bitcoin-price-could-hit-50000-in-2020/#354d1ea42f37

https://www.forbes.com/sites/ktorpey/2020/01/09/bitcoin-price-to-rise-above-20000-in-2020-says-bitpays-singh/#dab65c96e9ec