Bitcoin (BTC) is bullish in three key areas and a “perfect” buy-in is now no lower than $11,000, popular trader Tone Vays says. In the latest edition of his Trading Bitcoin YouTube series on Oct. 14, Vays presented an optimistic take on the Bitcoin price, which he argues has barely any bearish characteristics. Vays: $11,000 zone is “perfect” dip Examining the weekly and daily charts, Vays noted that there was little reason to expect a significant pullback beyond a “one to four-candle correction.” This is ongoing, with BTC/USD consolidating its gains from earlier in the week. Should this period last …

The author behind a valuation model for Bitcoin that's based on Metcalfe’s Law says the crypto asset will likely be priced around $12,000 by the end of November and reach $1 million within a decade. In an Oct. 11 Twitter thread, Timothy Peterson, Global Macro Manager at Cane Island Alternative Advisors, said there is “90% chance that Bitcoin will never again close below $11K.” Disclaimer: While he’s deadly serious, the prediction recalls the oft stated meme about the “last chance” to buy Bitcoin under $10K, which has frequently been proven wrong. This might be the last chance to buy bitcoin …

A new report predicts Tether could surpass Ether’s market cap by the end of next year, paving the way to mainstream adoption of stablecoins and central bank digital currencies (CBDCs). According to Bloomberg’s Crypto Outlook report for Q4 2020 written by Senior Commodity Strategist Mike McGlone, Tether (USDT) is likely to take the number two position by market capitalization from Ether (ETH) in 2021. The report cited the “stagnant market cap” of ETH, which currently stands at $43.2 billion but remained under $30 billion for most of 2019 and 2020, before getting a boost from DeFi in late July. USDT’s …

Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is “conservative,” and those levels should hit in less than two years. That was according to Blockstream CEO Adam Back, who delivered a fresh bullish BTC price outlook on Monday. Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor Ark, who in September forecast a Bitcoin market cap of $1 trillion to $5 trillion by 2030 at the latest. Ark is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise in 2020. “Conservative. I'd say #bitcoin likely …

The first debate of the 2020 U.S. presidential election had no clear winner, but crypto-powered prediction platforms are having a field day. Election futures on crypto derivatives exchange FTX boomed, with the platform’s CEO reporting more than $4 million in open interest trying to pick the winner between Democrat Joe Biden, and Republican Donald Trump. On FTX, Trump’s brash debate performance got a big thumbs down and drove a 10% crash in the price of futures contracts backing his re-election. Volumes on FTX are amplified by leverage. On predictive platforms that do not offer leverage, more modest six-figure volumes were …

Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand. “I don't see what [could] make it stop doing what [it’s] been doing for the last 10 years. And that's going up”, he told Cointelegraph in a recent interview. McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it a better store of value than gold, the total amount of which is unknown. Given the fixed supply, Bitcoin is going to appreciate as demand for it increases. McGlone points at the …

Dan Morehead, CEO and founder at investment firm Pantera Capital, is convinced that DeFi will outperform Bitcoin in the next five years. In a recent interview with Cointelegraph, Morehead pointed out that despite the poor performance of Pantera’s altcoin funds in 2019, the situation has flipped in the last few months due to the explosive growth of decentralized finance protocols and tokens. At the end of August, Pantera’s digital assets fund was up 123% year to date. "The world has woken up to DeFi and capital has flowed into the space", he said. According to the fund manager, Bitcoin has …

Three to five nations worldwide will entirely replace their fiat currency with a central bank digital currency, or CBDC, by 2030, a European think tank predicts. Dutch fintech-focused non-profit think tank dGen released a report devoted to geopolitical trends of CBDCs on Sept. 9. Titled “CBDCs: Geopolitical Ramifications of a Major Digital Currency,” the 30-page report takes a deep dive on the status of major global fiat currencies like the United States dollar, the euro, and China’s yuan. Compiled with support from institutions like the European Central Bank (ECB), Standard Chartered Bank, and the Frankfurt School, the report makes some …

Gold bug Peter Schiff, who has often spoken out against Bitcoin, may be admitting that there’s at least some flaw in his predictions after acknowledging the coin did not “collapse” as gold rose to a new all-time high last month. In a Twitter exchange with Tyler Winklevoss, which began Sept. 6, Schiff traded words with the Gemini co-founder regarding Bitcoin’s rise to a yearly high of more than $12,000 on Aug. 17 and its dip under $10,000 just last week. While Winklevoss predicted the digital asset’s baseline for all future dips would be $10,000, Schiff was decidedly more bearish, stating …

Tone Vays, the well-known Bitcoin (BTC) derivatives trader, believes Bitcoin will stay above $10,000 for the rest of 2020. At the start of the year, Vays said he was skeptical BTC would break $20,000 in 2021 but now he thinks it’s possible for the top cryptocurrency to overtake its record all-time high. If the price of Bitcoin surpasses $20,000 in the medium-term, Vays said history shows it tends to double. Based on the historical price cycles, he said the $45,000 to $50,000 range is a reasonable target. The historical cycle of the Bitcoin price. Source: TradingView.com During an interview with …

Bitcoin (BTC) needs to hit $340,000 just to match its performance from its last halving cycle, data shows. In a Twitter series on Aug. 20, popular statistics resource ChartsBTC noted that Bitcoin still has huge room for growth at current levels of $11,700. Halving multiples give up to $1.6 million BTC price Comparing lows, highs and halving prices from its two previous halving cycles, ChartsBTC put the difference between peaks at 36x for the 2012 cycle and 17x for the 2016 cycle. In order to repeat even the more modest cycle’s success, BTC/USD would have to trade at $340,000. 36x …

Internet entrepreneur and digital rights activist, Kim Dotcom, congratulated Twitter followers who bought Bitcoin based on his advice in 2018. According to a tweet published on August 17, the founder of the now-defunct file-sharing website, Megaupload, also praised followers that managed to capitalize on gold’s rising prices. In August 2018, Dotcom told his followers that they should buy Bitcoin and gold. He said that the U.S. dollar “will become worthless” and that he believed that a “U.S. economic collapse” was imminent. He felt that this would take all “old money currencies” down, explaining: "Times will get tough. But you’ll be …