Strategies for Accumulating BTC w/ Tuur Demeester Nomics ...

Bullish for Bitcoin: There’s been $20 trillion in global stimulus since COVID-19 started

The past few months have been the worst months for many economies around the world since the Great Depression. Dozens of millions have become unemployed, revenues have fallen off a cliff, and there is growing social unrest as different groups address the COVID-19 pandemic in different ways.
Governments, as a result, have been forced to throw trillions of dollars at trying to save every facet of the economy in a way that dramatically boosts Bitcoin’s long-term value proposition.
Governments and central banks have spent $20 trillion on fighting COVID-19
A chart from asset management firm Picton Mahoney and shared by Dan Tapiero, a prominent hedge fund manager and gold and Bitcoin bull, indicates that governments and central banks have spent $20 trillion (normalized in U.S. dollars) fighting the economic impacts of the COVID-19 outbreak.
This is equivalent to the annual GDP of the U.S. and approximately 25 percent of the world’s GDP.
” alt=”Global Monetary and Fiscal Stimulus to Fight Covid-19″ width=”437″ height=”447″ data-lazy-src=”https://pbs.twimg.com/media/EYccESoWkAAyVmC.jpg” />Image made by Picton Mahoney, shared by Dan Tapiero.
This stimulus (and what comes next), Tapiero and many others think, will boost Bitcoin dramatically.
Bitcoin could stand to benefit
The world has reached a fork in the road it seems: governments can agree to stop stimulating the economy, which would cause deflation, or they can continue to print trillions of dollars to try and save the economy, which should create inflation.
In both cases, analysts say, Bitcoin benefits.
In a world with inflation, BTC’s absolute scarcity enforced by block reward halvings will likely entice investors to try and secure their wealth in the cryptocurrency. As Tuur Demeester postulated in a recent interview:
“I THINK A PRICE TARGET OF LIKE $50,000 IS NOT INSANE AT ALL, ESPECIALLY GIVEN JUST HOW CRAZY THE MONEY PRINTING IS. I WOULD EVEN SAY BETWEEN $50,000-$100,000.”
This has become such a mainstream narrative that legendary billionaire investor Paul Tudor Jones released a note titled “The Great Monetary Inflation,” in which he said that he would be investing his fund’s capital into Bitcoin (allocation of a few hundred basis points) due to the monetary inflation going on.
In a world with deflation, you could have entire economies start to break down and institutions collapse due to the rising real value of debt. Bitcoin acts as a hedge in case of the collapse of institutions and potentially even governments.
Of course, the boiling down of an ever-changing world economy into two distinct scenarios is a bit of an oversimplification, but the point is that analysts think the current macroeconomic backdrop is perfect for Bitcoin to succeed.
Crypto and blockchain fund BlockTower Capital recently released a research note entitled “Demand is Coming,” in which the firm’s analysts put the current case for Bitcoin best:
“WITH ALL OF THESE CATALYSTS ON THE HORIZON, WHAT’S BECOME CLEAR IS THAT THE MACRO CASE FOR BITCOIN HAS NEVER BEEN MORE OBVIOUS. […] HEADING INTO THE BACK HALF OF 2020, THE FUTURE LOOKS PRETTY BRIGHT…”
submitted by kealenz to BitcoinMarkets [link] [comments]

Bullish for Bitcoin: There’s been $20 trillion in global stimulus since COVID-19 started

The past few months have been the worst months for many economies around the world since the Great Depression. Dozens of millions have become unemployed, revenues have fallen off a cliff, and there is growing social unrest as different groups address the COVID-19 pandemic in different ways.
Governments, as a result, have been forced to throw trillions of dollars at trying to save every facet of the economy in a way that dramatically boosts Bitcoin’s long-term value proposition.
Governments and central banks have spent $20 trillion on fighting COVID-19
A chart from asset management firm Picton Mahoney and shared by Dan Tapiero, a prominent hedge fund manager and gold and Bitcoin bull, indicates that governments and central banks have spent $20 trillion (normalized in U.S. dollars) fighting the economic impacts of the COVID-19 outbreak.
This is equivalent to the annual GDP of the U.S. and approximately 25 percent of the world’s GDP.
” alt=”Global Monetary and Fiscal Stimulus to Fight Covid-19″ width=”437″ height=”447″ data-lazy-src=”https://pbs.twimg.com/media/EYccESoWkAAyVmC.jpg” />Image made by Picton Mahoney, shared by Dan Tapiero.
This stimulus (and what comes next), Tapiero and many others think, will boost Bitcoin dramatically.
Bitcoin could stand to benefit
The world has reached a fork in the road it seems: governments can agree to stop stimulating the economy, which would cause deflation, or they can continue to print trillions of dollars to try and save the economy, which should create inflation.
In both cases, analysts say, Bitcoin benefits.
In a world with inflation, BTC’s absolute scarcity enforced by block reward halvings will likely entice investors to try and secure their wealth in the cryptocurrency. As Tuur Demeester postulated in a recent interview:
“I THINK A PRICE TARGET OF LIKE $50,000 IS NOT INSANE AT ALL, ESPECIALLY GIVEN JUST HOW CRAZY THE MONEY PRINTING IS. I WOULD EVEN SAY BETWEEN $50,000-$100,000.”
This has become such a mainstream narrative that legendary billionaire investor Paul Tudor Jones released a note titled “The Great Monetary Inflation,” in which he said that he would be investing his fund’s capital into Bitcoin (allocation of a few hundred basis points) due to the monetary inflation going on.
In a world with deflation, you could have entire economies start to break down and institutions collapse due to the rising real value of debt. Bitcoin acts as a hedge in case of the collapse of institutions and potentially even governments.
Of course, the boiling down of an ever-changing world economy into two distinct scenarios is a bit of an oversimplification, but the point is that analysts think the current macroeconomic backdrop is perfect for Bitcoin to succeed.
Crypto and blockchain fund BlockTower Capital recently released a research note entitled “Demand is Coming,” in which the firm’s analysts put the current case for Bitcoin best:
“WITH ALL OF THESE CATALYSTS ON THE HORIZON, WHAT’S BECOME CLEAR IS THAT THE MACRO CASE FOR BITCOIN HAS NEVER BEEN MORE OBVIOUS. […] HEADING INTO THE BACK HALF OF 2020, THE FUTURE LOOKS PRETTY BRIGHT…”
submitted by kealenz to Bitcoin [link] [comments]

DON’T PANIC. The Guide To The Current Situation In The Cryptogalaxy

DON’T PANIC. The Guide To The Current Situation In The Cryptogalaxy
In the last month, the world markets are experiencing dramatic events. In light of the coronavirus pandemic, an economic crisis is unfolding in the world. Because of quarantine actions across the world, many manufactures and non-food stores are being closed, the level of product turnover is falling. Small and medium-sized businesses suffer huge losses due to downtime, the unemployment rate increases and the purchasing power, in the opposite, decreases.
The value of the CBOE VIX index, reflecting the level of market volatility, increased the value to 82 points, for comparison, during the 2008 crisis, this index did not exceed 80 points, and in recent years it has been held at the level of 15-25 with peaks up to 45. Against the background of total panic among investors, on March 30, Brent crude updated the minimum of November 2002, falling to the level of $22.6 per barrel. The S&P, Dow Jones and Nikkei indexes are critically losing their positions. Experts note that the downward trend began even before the announcement of the COVID-19 pandemic, but the spread of the disease played a crucial role in the crisis increase.
by StealthEX
At the same time, digital assets also found themselves in a zone of turbulence: in the middle of the month, the price of bitcoin fell to $3800, followed by the price of altcoins. Panic sale leads to a chain reaction, many investors are getting rid of the cryptocurrency which is considered a risky investment, and the price of coins continues to decline.
The cryptocurrency market highly depends on what is happening in the world, so it will strengthen and continue to grow only when the situation with the pandemic becomes clear and less unpredictable. Therefore, the main task at this stage is to maintain composure and don’t give in to emotions when making decisions.
Despite the extremely uncertain situation, most analysts now give fairly favorable forecasts. Judging by the latest fluctuations in the exchange rate, the cryptocurrency market has come out of an uncontrolled fall. In their opinion, we expect a long flat with a slow trend of price growth against the background of halving. Despite bearish trends and skidding at $6,500, at the close of the quarter, bitcoin was able to hold above the important support level of $6,400. Michaël van de Poppe, a cryptanalyst of the Amsterdam Stock Exchange, believes that now bitcoin is in the stage of consolidation and will gradually pay off in the next 4-6 years. Tuur Demeester, analyst and founder of Adamant Capital, suggests that holding the $6,300 level could be a key resistance level before the bull market can resume.
Similar dynamics are predicted for altcoins, which maintain a high correlation with the first cryptocurrency.
Here’s what the quarterly charts for BTC, ETH and XRP look like:

Bitcoin chart for 3 months. Source: CoinGecko

Ethereum chart for 3 months. Source: CoinGecko

XRP chart for 3 months. Source: CoinGecko
Also, experts in cryptocurrency research believe that the current situation in the oil and stock markets can have a positive impact on digital currencies. WTI oil, like Brent, fell to the level of 2002, trading around $20 mark. Black gold continues to look very vulnerable as well as the prospects for the oil market in general.
At the end of the first quarter of 2020, the bitcoin exchange rate decreased by 13%, but in comparison with traditional stock markets, the first cryptocurrency showed more successful results. The S&P 500 index, which includes shares of the 500 largest companies by capitalization, fell 19% to 2,584 points. This is the worst figure since 1938. President Trump’s proposal to allocate $2.2 trillion to support the American economy is criticized by many economists as leading to more problems than offering a real solution. They consider hyperinflation as the most likely scenario for the next year.
Since cryptocurrencies are not subject to inflation and are not in control of governments and banks, many predict that digital assets will be popular as a tool for hedging risks.
Earlier co-founder and CEO of Gemini exchange Tyler Winklevoss stated in his twitter:
https://preview.redd.it/xc61jsazlls41.png?width=768&format=png&auto=webp&s=06084bd6d511f93da4c485cd7eb3281566f2c4cc
The founder, head and CEO of the Galaxy Digital, Michael Novogratz, also believes that cryptocurrencies with mathematically limited emission could be a safe haven in the face of inflation.

Peter Brandt called the current crisis a “perfect storm” and noted that it could be a crucial period for Bitcoin. It is at this point that the coin can reveal itself as a protective asset and grow in price. In his tweet of March 23, he also advises treating cryptocurrencies as insurance policies rather than investments.
Trading volume on 22 popular crypto exchanges increased by 61% in the first quarter compared to the previous one — to $154 billion.
In March, major cryptocurrency exchanges recorded a sharp increase in the number of new users. Pierre Richard strategist of the Kraken exchange believes that people who are concerned about the futile efforts of the authorities to contain the crisis against the background of the pandemic feel the need to leave the centralized financial system.
With other positive aspects, we should not forget that cryptocurrencies remain extremely susceptible to manipulation by major players. That collapse, which we experienced in the middle of the month, allowed corporations to buy coins at an extremely low price and, in fact, nothing can prevent them from attacking the market in the future.
Whatever happens on the market, you can always exchange coins at StealthEX as we always have unlimited exchanges without requesting personal data. A large number of currencies available for exchange will allow you to create your investment portfolio in the most suitable way for you.
Original article was posted on https://stealthex.io/blog/2020/04/09/dont-panic-the-guide-to-the-current-situation-in-the-cryptogalaxy/
submitted by Stealthex_io to StealthEX [link] [comments]

Bitcoin (BTC) and Gold (XAU) Melt-Up Coming: Tuur Demeester (current BTC/USD price is $6,924.85)

Latest Bitcoin News:
Bitcoin (BTC) and Gold (XAU) Melt-Up Coming: Tuur Demeester
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

The best crypto and blockchain podcasts of 2019

For anyone who it interested in learning more about investing, crypto, finance, blockchain, and entrepreneurship can checkout this list I made of the top podcasts to follow in 2019 with some selected episodes chosen from each one:

Off The Chain With Anthony Pompliano
Host Anthony Pompliano talks to some of the most respected names in crypto and Wall Street to find out how intelligent investors from the new and old financial system are thinking about digital assets.
Top Episodes:
CZ, Founder and CEO of Binance: Binance and the Future of Global Crypto Regulation
Murad Mahmudov: The Ultimate Bitcoin Argument
Travis Kling: The Secrets of A Crypto Trader

Unchained: Your No-Hype Resource for All Things Crypto
This weekly, hour-long podcast with host Laura Shin dives deep into the people building the decentralized internet, the details of this technology that could underpin our future, and some of the thorniest topics in crypto, such as regulation, security and privacy.
Top Episodes:
Vitalik Buterin, Creator of Ethereum, On The Big Guy vs. The Little Guy
Naval Ravikant On How Crypto Is Squeezing VCs, Hindering Regulators, and Bringing Users Choice
Blockchain 101 with Andreas Antonoloulos

What Grinds My Gears
From Meltem Demirors and Jill Carlson, What Grinds My Gears is a podcast about the bizarre and buzzworthy happenings in the world of cryptocurrency. Each week, they delve into one key theme in crypto, and examine this theme through a broader financial, political, and cultural lens to learn from the past, understand the present, and explore the future.
Top Episodes:
An Unfetted Orgy Of Capitalism
It’s All About The DEX, Baby!
Tarred & Tethered

What Bitcoin Did
Since the birth of Bitcoin in 2009, a new class of Crypto assets built using the innovative design of the blockchain is disrupting technology and financial markets. In this podcast you will hear host Peter McCormack speak with crypto traders, miners, venture capitalist, investors, technical developers, CEOs, journalist and other people driving forward the growth of Bitcoin and other cryptocurrencies.
Link To Listen
Top Episodes:
Andreas Antonopoulos: What Happens When Bitcoin Takes Over?
Peter Van Valkenburg on Lightning & The Law
Tuur Demeester on Why Bitcoin Is In Heavy Accumulation

Untold Stories with Charlie Shrem
Host Charlie Shrem dives deep into the lives and personal histories of some of crypto’s most influential leaders. A focus on personal stories weaves together a nuanced, untold narrative of how the crypto movement truly came to be.
Top Episodes:
J. Maurice “Wiz” — The Real Story of Mt. Gox & How to Become a Self-Sovereign Bitcoin Miner
Arianna Simpson — Why Founders Shouldn’t Think About an Exit & Becoming BitGo’s 3rd Employee
Steven Nerayoff — Crypto as a Disruptive Technology & Governments Debasing Their Own Currencies

Tales From The Crypt
Tales from the Crypt is a podcast hosted by Marty Bent about Bitcoin. Join Marty, Editor in Chief of “the best newsletter in crypto”, as he sits down to discuss Bitcoin with interesting people.
Top Episodes:
Tales from the Crypt: Pierre Rochard Pt. I
Tales from the Crypt #3: Santiago Siri
Tales from the Crypt Ep1: The History of Bitcoin Pt. 1

The Token Daily with Soona Amhaz
Host soona amhaz sits down with the movers and shakers of the crypto industry to discuss the big ideas they spend their days thinking about. Soona and her guests examine everything from industry trends, to what books they’re reading, to human psychology and investing.
Top Episodes:
Taylor Pearson, Author of The End of Jobs: Markets Are Eating the World
Dani Grant, Analyst at Union Square Ventures: The VC Outlook on Crypto’s Trends and Future
Tony Sheng, Independent Analyst: A Writer’s Take on Bitcoin Lore

The Flippening
Flippening is for cryptocurrency investors. Each week host Clay Collins discusses the cryptocurrency economy, new investment strategies for maximizing returns, and stories from the front lines of financial disruption. Flippening is for a new class of investors that were not part of the financial services world before bitcoin, but got into the finance because of their passion for cryptoassets, blockchain, altcoins, and distributed ledger technology.
Top Episodes:
Strategies for Accumulating BTC (Instead of USD) w/ Tuur Demeester from Adamant Capital
The Economics of Cryptoasset Markets w/ Professor Stephen McKeon
Bootstrapping A Crypto Nation State From Scratch, w/ Eric Meltzer of INBlockchain

The Chain Reaction Podcast
Host Tom Shaughnessy of Delphi Digital converses with the top names in crypto and blockchain.
Top Episodes:
ConsenSys’ Joe Lubin: Ethereum’s Competition Isn’t Even Close
Delphi Digital’s March Analyst Call — Ethereum, Enjin and Our Short Term Bitcoin Outlook
Vision Hill Group’s Scott Army: Digital Asset Management of the Future

a16z Podcast
The a16z Podcast discusses tech and culture trends, news, and the future — especially as ‘software eats the world’. It features industry experts, business leaders, and other interesting thinkers and voices from around the world. This podcast is produced by Andreessen Horowitz (aka “a16z”), a Silicon Valley-based venture capital firm.
Top Episodes:
What Time Is It? From Technical to Product to Sales CEO
Principles and Algorithms for Work and Life
Five Open Problems Toward Building a Blockchain Computer

Unconfirmed: Insights and Analysis From the Top Minds in Crypto
Events in crypto take place at warp speed. This weekly crypto podcast reveals how the marquee names in crypto are reacting to the week’s top headlines. With host Laura Shin, the guests also discuss what they’re thinking about these days and reveal what they believe is on the horizon in crypto. Disclosure: Laura is a nocoiner.
Top Episodes:
To the Moon and Back With Polychain’s Olaf Carlson-Wee
Don Wilson of DRW Holdings on What’s Been Driving 2018’s Crypto Downturn
Hu Liang of Omniex on What Institutional Players Are Planning to Do in Crypto

The Unhashed Podcast
Unhashed breaks down the latest in Bitcoin news and developments and puts them into terms everyone can understand. Expect to be both entertained and educated about cryptocurrencies and blockchain. How do hardware wallets work and do they really keep you safe? Which crypto exchanges pose the greatest risk to the bitcoin ecosystem? Does Litecoin help or hinder bitcoin development? Expect the answers to these and many other questions from the Unhashed professionals offering different perspectives to all the blockchain issues you care about!
Top Episodes:
The Very Rich, Very Patient Binance Hacker
Bitcoin Goes High Fidelity
Initiating Unhash

The Scoop
The Block’s team, led by Frank Chaparro, draw out the freshest and deepest insights about digital assets from traditional Wall Street, crypto native, Fortune 500 and many other crypto ecosystem leaders. It’s light, fun and informative brain food!
Top Episodes:
A Conversation with Mark Yusko, CEO and CIO of Morgan Creek Capital Management
A Conversation with Stephen Palley, Partner at Anderson Kill
A Conversation with Emilie Choi, VP Business and Data, Coinbase

Base Layer
Base Layer with host David Nage will be providing insights from founders and investors in the base layer of cryptoassets. Simplifying complex projects and the technology being developed, from interoperability to relayers and more — who is building the future, why are they and how are they doing it.
Top Episodes:
Base Layer Episode 028 — Zaki Manian (SkuChain, Cosmos, Tendermint)
Base Layer Episode 026 — Diogo Monica (Co — Founder, Anchorage)
Base Layer Episode 032 — Alexander Skidanov (NEAR)

Blockchain Innovation: Interviewing The Brightest Minds In Blockchain
Blockchain Innovation is where host Frederick Munawa interviews the brightest minds in Blockchain and cryptocurrency — entrepreneurs, executives, and top academics — to discuss present and future applications of Blockchain Technology. Why? To determine how Blockchain can be used to increase profits, cut costs, and disrupt traditional industries and business models — so you can borrow their strategies, tools, and tactics for your own success. Join Frederick every Tuesday to learn how the brightest minds in Blockchain are pushing the envelope with Initial Coin Offerings (ICOs) and token sales, public blockchains, private blockchains, Bitcoin, Ethereum, Hyperledger, smart contracts, and much more.
Top Episodes:
Why Bitcoin Should Hard Fork With Roger Ver
How Blockchain Assets Are Changing The World With Erik Voorhees
Blockchain Meets Artificial Intelligence with Dr. Ben Goertzel

Blockchain Insider
Blockchain Insider, hosted by Simon Taylor and Colin Platt is a dedicated podcast specializing in Bitcoin, Blockchain and distributed ledger technology (DLT). Simon and Colin break down the week’s news with expertise and enthusiasm for the blockchain and digital currency sector. Since the price of Bitcoin has rocketed, and Bitcoin, Ethereum and Litecoin have become household names, Blockchain Insider has charted their rise in a way that’s accessible to new listeners.
Top Episodes:
Ep. 42. Santander Makes Ripples and Charles Hoskinson Shares His Vision of Cardano
Ep. 27. XRP’s Ripple effect and Blockchain use cases
Ep. 43. Sexism in Crypto, Pornhub takes Verge, and Binance Denies the Dollar

Let’s Talk Crypto
Have you ever heard of digital currencies like bitcoin, ethereum, and buzzwords like blockchain, cryptocurrencies and mining? Don’t know what it all means or how to get started? Let’s Talk Crypto with Barry Moore and Tom Galeski breaks it all down in easy to understand terms and helps you “learn and earn” in the age of cryptocurrencies.
Top Episodes:
006: Altcoins
017: Fiat & Crypto
010: Proof of Work vs. Proof of Stake

Blockchain 2025
Blockchain is a technology that will disrupt nearly every industry. Host Matt Aaron and Blake Moore explore one industry in every episode. How will blockchain change art, music, or online advertising? What projects are already underway? Listen & find out.
Top Episodes:
Online Ads — Publishers and Advertisers vs. Centralized Platforms
Music Biz — Can Artists Have More Money + Freedom?
Crypto Debit Cards — A Bridge to the Future? TenX, Monaco, Comit

IBM Blockchain Pulse
Host and blockchain-evangelist Matt Hooper engages with the planet’s most dynamic blockchain thought-leaders, explorers and innovators to discover the countless new ways blockchain is leaping from theory to reality: From entertainment to identity, from payments to secure supply-chain transparency.
Top Episodes:
Making Cross-Border Payments Seamless — IBM Blockchain and Stellar’s Collaboration That is Bringing Commercial Payments to the Financial World
A Blockchain Origin Story and Enabling Complete Ownership With Blockchain
The Future of Protecting Your Wallet and Identity: Blockchain Identity and Digital Credentials, with Adam Gunther and Drummond Reed

Messari’s Unqualified Opinions
Unqualified Opinions is a podcast hosted by Messari’s CEO Ryan Selkis featuring candid, fast-paced interviews with crypto’s top builders and investors.
Top Episodes:
Bill Barhydt, CEO & Founder of Abra
Anthony Pompliano, Founder at Morgan Creek Digital
Unlock Protocol CEO Julien Genestoux
submitted by RndmWrdCombntn to podcasts [link] [comments]

Is the Cryptocurrency Bear Market Over?

After months of constant downward price action, many well-respected cryptocurrency analysts are taking to Twitter and social media to say why they believe the bear market is officially over.
Willy Woo is a well-known cryptocurrency twitter account and posted some reasons why he the suspect’s end of the crypto winter could be in. Woo initially commented on how Bitcoin just crossed the 200 Day moving average for the first time in a while.
In Bitcoin’s 10+ years of history, after crossing the 200 Day moving average for an extended period of time (around 6–8 weeks) it has gone on to make new highs. While the trader has not fully ruled out the end of the bear market, it’s certainly a promising sign to see Bitcoin cross the hard resistance of the moving average.
Another sign that Woo is looking out for, is the pick up of Bitcoin transaction volume. This is typically measured by something called NVT (Network Value to Transactions Ratio). To get scientific, this is calculated by taking the asset market cap (in this case Bitcoin) divided by all of the transaction volume on the blockchain. This is a fundamental analysis signal and something we discussed in a prior post.
Another prominent figure in the cryptocurrency space Thomas Lee from Fundstrat also believes that the bear market is over. In Lee’s tweet, he highlights 13 reasons why we could be on our way up. One of the resources he mentions is Tuur Demeester’s Adamant Capital report. In the report, Demeester highlights some of the long term Bitcoin wallets have entered an accumulation phase.
From a fundamental analysis viewpoint, there’s near endless news that’s hinting towards more adoption of Bitcoin and cryptocurrency. There’s another ETF application that will be ruled on in the next few days, Fidelity is launching their own cryptocurrency investment service, and Bakkt is on its way.
Conclusion
While these cryptocurrency influencers aren’t necessarily correct, it’s a promising sign to see some of the top minds in the space agree. In addition, we have plenty of infrastructure on the way supporting institutional and retail adoption. Do you think that the bear market is officially over? Let us know in the comment section!
submitted by Cedexofficial to u/Cedexofficial [link] [comments]

Bitcoin Closes Weekly Candle Above $8,400, Stage Set For $9,600 Push

Bitcoin Closes Weekly Candle Above $8,400, Stage Set For $9,600 Push
https://preview.redd.it/rwaeoh23hp031.png?width=1024&format=png&auto=webp&s=dbf21b381bd2bba90d52409ad29276edcd115c6b
After breaking from $8,000’s grip on Sunday, Bitcoin (BTC) skyrocketed to $8,750 in a jaw-dropping move. While the bullish momentum has slowed for the time being, with BTC beginning to consolidate in the short-term around $8,700, some are sure that the cryptocurrency market will continue to print higher as the week elapses.
Related Reading: Binance’s CZ Expects Bitcoin To Break From $8,000 Range: Will It Happen?

Bitcoin Closes Above $8,400

Earlier today, BTC suddenly broke over, shooting past $8,200, $8,400, and $8,600 in rapid succession. Initially, though, some were wary that this was a fakeout, designed to trap bulls into thinking there was going to be a strong weekly close above $8,400. $8,400 is, of course, where this market topped in a bear market rally in mid-2018, and where BTC double topped in early-May.
The thing is, there was a chance that Bitcoin was going to rapidly scale back just as fast as it jumped up.
But, just minutes ago, Bitcoin’s weekly candle closed at midnight (UTC time zone), marking a strong performance over the past week. As analyst Nick Cote quipped on Twitter in response to this close, “that weekly print.” According to LiveCoinWatch, Bitcoin is up 6.75% on the week.
https://preview.redd.it/dz3739bvgp031.png?width=779&format=png&auto=webp&s=1f5cf07de6a58593c6b366fa776491e3d064ee20
So what’s next? Well, now that the weekly candle has closed decidedly bullish, some are adamant that anywhere to $9,600 to $10,000 for BTC is in the cards. Josh Rager, a team member at Level and a popular analyst, recently noted that now that the close was strong, he fully expects for a move to $9,600 to come to fruition. As he wrote in a recent tweet: “Goodbye meme triangle, hello $9k+ targets. Bitcoin could cool off, run sideways but IMO will continue to move up over $9k.”
Some have been a tad more optimistic. Adamant Capital’s Tuur Demeester exclaimed last week that Bitcoin continues to hold in a bullish parabola, which has acted as support for BTC since December 13th’s jaw-dropping bottom.

In fact, the asset touched the parabola in February, late-March, early-April (to kick off the current rally), throughout early-May, and just last week. If this trend continues, the Adamant representative suggests that Bitcoin could rally by 40% — around $3,000 — from current levels to hit $11,000 by early-June. This begs the question — is crypto winter finally over?
According to Fundstrat Global Advisors’ Tom Lee, this might just be the case. In a recent Twitter post, the Fundstrat head of research gave 13 reasons why the bear market is over.
Some of these important reasons include the fact that Bitcoin quickly returned to $8,000 after the $1,700 dump on Bitstamp; the Bitcoin Misery Index passing above 89, a sign only seen in bull markets; a grow in on-chain activity and volumes, which historically have preceded rallies; and the fact that Bitcoin’s chart recently saw a bullish “golden cross” pattern” while BTC moved above its 200-day moving average in spectacular fashion.
submitted by Rajladumor1 to omgfin [link] [comments]

How many bitcoin to earn $60k per year?

There was a recent discussion saying that holding one bitcoin is like earning $60k per year: https://www.reddit.com/Bitcoin/comments/7j22in/holding_1_btc_is_like_having_a_1942hr_job_with_a/
Of course, it doesn’t work because you have to keep holding the bitcoin, and I don’t believe it will rise that far.
So how many bitcoin would you need to ‘harvest’ $5k per month, without reducing the dollar value of the bitcoin?
Of course it depends on your idea of where the BTC price will be in the future, and whether you think it’s in a bubble, but let’s assume it will roughly double each year - as this sober and prescient chart says: https://mobile.twitter.com/TuurDemeestestatus/933230479381184512/photo/1
2017: $10k 2018: $20k 2019: $40k 2020: $80k etc
I don’t quite know how to do the calculation exactly, but instinctively I feel you would need about 6 BTC ($60k worth a year) to make $60k a year, since the $ value would double and the BTC would half. Please correct me if I’m wrong.
In other words, you can harvest, per year, the same amount as you initially invested, and still retain the same value.
submitted by dorayfoo to Bitcoin [link] [comments]

False claims of ETH shills: more developers / development and other comparisons

Disclaimer: Coins are named only for examples, not praise. All coins have issues and downsides. Focus here is on false claims.
These ones typically come in several flavors:
*
"More Developers"
There are often claims more developers are working on Ethereum. Github is a great resource for checking that claim and comes out false when compared to BTC, shows huge reduction in early acceleration, and overlooks significant development distributed across hundreds of others cryptocurrencies. [1,2]
*
"Stalled development [for competition]"
Another claim, often for at least a year aimed at the oldest cryptocurrency bitcoin, are that it "stagnated" or "it can't scale" or "haven't been updated" or "no development" to imply any updates on eth are better than zero on bitcoin. This misrepresents how much work is being done even by core volunteers:
BTC is likely chosen for publicity and easy target with oversimplified metrics, and implies Eth is obvious solution because it can do "more".
When questioned about what more eth can do that can't be done by another method, the best answer the eth core developer could come up with are tokens or multisigs [1] with same conclusion reached by similar platform developers [2]. However, tokens and/or multisigs are available on many platforms before Eth (BTC, XCP, OMNI, BTS, NXT, more) which are often overlooked for comparison. Sometimes tokens are even associated to be invented by Ethereum [1] or inventing smart contracts [1,2] which are both false.
Good example of features on eth roadmap that could be compromised easily are zk-snarks that introduce trusted setups [1].
Features are only objectively described desired or undesired, but generalized praise of extra "features" is misguided as they are not always solving real problems and/or they come with tradeoffs. For example, security risk of a larger attack area and untested tech [1]. More tested builds, more stable builds, or minimized attack surface can be described as a major features by themselves. Additionally, same features can be implemented in different ways providing different levels of security compromises and other tradeoffs, such as smart contracts on main chain (e.g. eth) vs sidechain (e.g. btc-rsk, lisk).
*
"It's faster, no backlog, lower fees [than competition, usually BTC]"
Once again, saying one is better than the other is subjective and not simple.
Many coins promote fastelarger blocks and "better" scaling ignoring downsides of those decisions. It's often suggested it's not a clear metric, and there's no clear "better".
Why not just make it as fast as possible? Trade-offs.
Simple block increase will have numerous trade-offs and concerns [1,2,3] and comes down to choice and priorities.
Decreasing block time comes with disadvantages and isn't a good metric of speed, could compromise security (e.g. orphans), may require more confirmations to get same level of confidence, and more [1].
Maximum speed capacity varies between blockchain designs and while being a quantitative metric of possible throughput, does not include other trade-offs. Different consensus algorithms and optimizations cause enormous ranges in possible throughput and tradeoffs (e.g. XRP, BTS, STEEM, NEM, WAVES, NXT can operate many orders of magnitude now faster than ETH,BTC, but are they more reliable or secure? We're still learning and debating [1,2,3]).
Blockchain bloat (from increased speed + other data on chain) would disqualify many from being able to check entire history on full nodes. [1,2,3] Blockchain bloat is a major issue with ethereum due to design choices with no solutions (sharding) in near future [1,2,3]. From (2), "TL;DR It's close to impossible to keep a full copy of blockchain and state on consumer hardware."
Backlog can appear on many blockchains and not sign of quality: e.g. 2017-06-20 Around time of Status ICO appeared 4x larger backlog on ETH than BTC while processing transactions at same rate. [1,2,3,4,5,6,7] with more examples possible. They can be created maliciously as one of the attack vectors [1,2].
"Long confirmation times and high fees" are two opposing issues since higher fee causes smaller confirmation time. Median confirmation time for example for BTC has not increased drastically even with backlog. [1]
Fees are often used as one of the methods to prioritize transactions to prevent spam "sibyl" attacks to cause unsustainable growth by making it expensive (most common, but not only solution). For example, median tx fees on eth are higher than bitcoin's were only months prior even while processing less transactions [1].
Sometimes speed and transactions are used as adoption statistics, but it's not as clear due to same users doing many transactions [1] or popular applications using a blockchain [2].
Stability and reliability of a blockchain are often a major tradeoff and a desired feature when talking about value. "Store of value" is often joked about as a simple goal, but while many blockchains have operated successfully for years (e.g. 7-9 years for BTC), ethereum has a strong history of security compromises only months apart [1,2,3,4]. Even more serious is centralization in Ethereum demonstrated clearly in the past, rendering all the other security issues minor by comparison [1,2,3,4] erroneously praised sometimes as ability to update fast instead of via willing consensus. Alternative solutions for fast updates while allowing user input exist in other blockchains but do not even appear on Ethereum roadmap.
*
"EEA/(Insert company here) is backing Ethereum, (Insert big company here) is building on Ethereum" (again)
They are probably not. Name dropping is becoming common to get others to buy ether coins.
The idea used here is to deceptively call modified clones of a blockchain by same name as the original blockchain to attract more buyers while they have nothing to do with their publicly traded chain, hard to say when on purpose and when due to lack of technical knowledge. That's like calling any blockchain using anything remotely like bitcoin chain also bitcoin, which would be an enormous list. Does that mean people using separate chains are "backing" the original? Don't see why.
Most members are simply getting free code to modify and build their own private chains that have nothing to do with ether fuel you buy. [1,2] Additionally, fundraising using eth token doesn't imply it will use the public Eth chain. Security issues of public Eth chain are a major concern for many companies and projects [1,2]. Most projects are also simply tests and sometimes might use testnet. Additionally, use of EVM is not unique only to public ethereum chain.
TLDR: many of common Eth shill claims are oversimplified and simply incorrect.
[work in progress]
submitted by newweeknewacct to ethereumfraud [link] [comments]

Bitcoin News #26 BITCOIN PRICE PREDICTION EXTREMELY BULLISH 2014 Chart STILL Perfect!!! Tuur Demeester - Bitcoin Possible Price Resistance, I'm Selling (The Cryptoverse #159) Bitcoin A Good Long Term Investment  Learning From Past Crash History  Bubble  Turr Demeester Cryptocast 108 - Bitcoin bestand tegen deze enorme crisis, met Tuur Demeester

Tuur: If you want to get out, you have to go to Bitcoin first, so Bitcoin is kind of the bottleneck, and that’s why the Bitcoin dominance will often really increase in bear markets. The kind of the strategy that comes with that [00:20:00] is that you can short assets as you see the market get tired; you can short altcoins against Bitcoin. You borrow the altcoin, you go long Bitcoin, and then ... Der Tweet von Tuur Demeester zeigt deutlich, wie der Bitcoin Kurs in der letzten Hälfte des Jahres 2016 um etwa das zehnfache gestiegen ist. Auch frühere Halvings haben enorme Anstiege zur Folge gehabt wie man unschwer auf dem Chart erkennen kann. Halvening centric perspective on Bitcoin price. • Tuur Demeester explored why Bitcoin will develop in an Amazon-like fashion, while Ethereum could develop more like eBay.According to Demeester, the user. 11.5 C. Amsterdam. 21 September 2020. Home; News. News. How to purchase, sell, and track Bitcoin –… 21 September 2020. News. TRON (TRX) CEO apologizes for ’10 billion users’… 21 September 2020. News. DigiByte (DGB) Jared Tate on ... Das Jahr 2018 war geprägt durch eine heftige Abwärtsbewegung an den Kryptomärkten. Der Bitcoin rauschte von fast 20 000 Dollar bis auf etwas mehr ... Describing the rush to buy Bitcoin as a “land grab” for institutions, Tuur Demeester sees the cryptocurrency rallying to $50,000-$100,000.

[index] [27488] [27058] [33841] [26092] [30265] [19178] [23775] [12782] [42823] [30075]

Bitcoin News #26

Tuur Demeester - Bitcoin Accumulation & Predicting The Bottom A recent report published by Tuur Demeester titled Bitcoin in Heavy Accumulation suggests many people were planning on accumulating ... Bitcoin is not a just another bubble. We must learn from the past to understand our future. Watch this video. I want to share with you my thoughts. Like. Subscribe. Follow us on Twitter: https ... The #Bitcoin chart is showing some VERY mixed signals: short term BEARISH... long term bullish? Should you be worried? Ethereum vs BTC: can DeFi push $ETH ov... Te gast in de 108de aflevering is de Belgische econoom en bitcoinheld Tuur Demeester. Met hem praten we over de toekomst van de economie en de toekomst van bitcoin. Al drie weken lang zijn wij in ... Skip navigation

#