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After Nailing Bitcoin’s Price in 2020, Max Keiser Unveils Massive Prediction for Year Ahead

Wall Street veteran and Bitcoin firebrand Max Keiser says he believes Bitcoin will ignite a massive rally this year on the back of central banks’ loose monetary policies. Two years ago, Keiser made an accurate forecast that Bitcoin would end 2020 trading at around $28,000. Now, the Bitcoin bull is back with another year-end prediction. […]

The post After Nailing Bitcoin’s Price in 2020, Max Keiser Unveils Massive Prediction for Year Ahead appeared first on The Daily Hodl.

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Wall Street veteran and Bitcoin firebrand Max Keiser says he believes Bitcoin will ignite a massive rally this year on the back of central banks’ loose monetary policies.

Two years ago, Keiser made an accurate forecast that Bitcoin would end 2020 trading at around $28,000.

Now, the Bitcoin bull is back with another year-end prediction.

In a new interview with Stansberry Research, Keiser says he expects Bitcoin to surge nearly 550% from its current price of $34,000 before this year expires.

“I’m going with $220,000 per Bitcoin as a 2021 target and that would bring us up to $4 trillion-dollar market valuation which I think is a good 2021 objective. We are going to catch up to gold. That would bring us up to not quite half gold’s valuation but getting close to gold’s valuation.

I think the catalyst is going to be, as I said, a major central bank failing plus the money printing is going to go absolutely Weimar Republic.”

Keiser is also predicting turmoil in the macroeconomy. He expects one of the major central banks to collapse in the year ahead.

“One of my predictions will be one of the major central banks in the world will collapse in 2021. They are highly leveraged…

These banks are leveraged 50, 60, 70 to one… One of them is going to collapse in 2021 and that will start an avalanche. Out [with] fiat money and paper money and the top beneficiary of that will be Bitcoin. That’s one of the catalysts for [Bitcoin’s] price appreciation in 2021.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Art Furnace

Source: https://dailyhodl.com/2021/01/06/after-nailing-bitcoins-price-in-2020-max-keiser-unveils-massive-prediction-for-year-ahead/

Blockchain

GrayScale Breaks Records, Buys $600 Million Bitcoin

Barry Silbert in ??? prob 2013GrayScale has bought 16,420 bitcoin this Monday, worth $600 million. Making it the biggest one day purchase by far. The biggest stock trading bitcoin provider has now bought about $1…

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GrayScale has bought 16,420 bitcoin this Monday, worth $600 million. Making it the biggest one day purchase by far.

The biggest stock trading bitcoin provider has now bought about $1 billion worth of bitcoin over the past week, considerably higher than the $100 million a week in November and $500 million weekly in December.

“Momentum from Q4 seems to picking up speed into the new year,” Michael Sonnenshein, GrayScale’s CEO, said.

They now hold 632,800 bitcoin, worth $24 billion, making GBTC the biggest stockenized bitcoin product by a significant margin.

These purchases appear to have not quite reflected on bitcoin’s price as of now, with it trading at $37,000.

That may be because they’re bought Over the Counter (OTC) in blocks, rather than on price setting exchanges.

OTC purchases tend to have at least a week’s delay and sometime a month as supply and demand pressures make their way.

The price sold OTC for example would have been sold on exchanges, so taking sell pressure out.

In addition, OTC prices go at a premium. Instead of giving a discount for buying 10,000 bitcoin as wholesale, they start asking for a higher price, arguing that buy slippage on exchanges would have been higher so it is still a discount.

Eventually they have to effectively buy on exchanges, with what’s gone on behind the scenes so finally reflecting.

Suggesting this is perhaps a leading indicator, but how these record breaking daily purchases by GrayScale will reflect on global prices remains to be seen.

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Blockchain

Two Australian Banks Face Lawsuit For Closing Bitcoin Trader’s Accounts

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Two Australian Banks Face Lawsuit For Closing Bitcoin Trader’s Accounts

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An Australian crypto trader Allan Flynn has filed a lawsuit against two banks, for closing his business accounts without any prior notice. In the lawsuit filed at the ACT Civil and Administrative Tribunal, Flynn alleges that the sudden and illegal action of the two banks has caused significant loss to his business.

The trader who also owns a cryptocurrency exchange with 450 registered users was running a legal business with the exchange, being AUSTRAC-registered. His customers use the exchange mainly for buying digital assets such as Bitcoin, against which there is no law in Australia.

Interestingly, this isn’t the first time banks have shut down Flynn’s accounts. More than 20 of his accounts have been closed by over 5 banks in the last three years which led to the opening of two new ones. He claims that he clearly mentioned to the two banks that the accounts were for crypto trading but it did not stop them from suddenly closing the accounts. He is also not alone in this.

“I am by no means alone or the first. I know of at least one other trader who has had accounts closed more than 60 times,” he said, adding that “how am I supposed to run a lawful business if I can’t get a bank account?”

Although one of the banks informed him that his account will be closed in a few days, all attempts to open a new account failed because according to the bank, he was under investigation for crypto fraud. The other bank, ANZ also allegedly informed its employees and other banks that Flynn was deceitful.

Cryptocurrency traders and investors face discrimination globally. In India which has a very large market for cryptocurrency, banks had been instructed not to do business with anyone involved with cryptocurrency. However, the Supreme court issued a landmark judgment last year that gave cryptocurrency business legal grounds to operate.

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Flynn is seeking $250,000 in restitution from Westpac and ANZ declaring their systematic prejudice have cost him his once-thriving business.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/two-australian-banks-face-lawsuit-for-closing-bitcoin-traders-accounts/

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Blockchain

Bitcoin SV Price Analysis: 19 January

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

Bitcoin SV’s price was stuck in a low volatility zone, with 4-hour candles varying between -3% to +3% returns. While the trend seemed to be continuing, BSV seemed to have retained its bullishness as well. With a 5% surge on the horizon, BSV looked set to hit a critical resistance level, breaching which would push Bitcoin SV up by 20 to 25% on the price charts.

Bitcoin SV 4-hour chart

Source: BSVUSD on TradingView

At press time, BSV was riding the inside of a rounded bottom with the price nearing the neckline. A breach and a successful retest of this neckline will push the price higher on the charts. However, until the neckline, BSV seemed safe for a quick 5% scalp. A breach of the neckline at $222 is the bullish confirmation needed for the next 20% to 25% surge.

The RSI indicator showed that there was more room for the price to grow, further confirming the move up to the neckline.

Further, the OBV indicator noted a lack of volume, which may be why the price was not volatile and was stuck with +/- 3% 4-hour candles.

Finally, the Stochastic RSI was in the overbought zone, suggesting that a quick reversal was possible for BSV. In this case, we can expect the price of BSV to hit the rounded bottom curve. A breach of this curve seemed like a possible scenario, and if this does come to play, we can expect BSV to test the inclined trendline which has been a strong support level since 11 January.

Conclusion

A surge above the neckline in the short-to-mid term looked unlikely, at least until the SuperTrend indicator was breached. Hence, a rebound into the rounded bottom pattern was more likely. The rebound will contribute to the formation of an ascending channel, one which also has a bullish bias. With the exception of the near-term bearishness, BSV looked ready for a 20% to 25% surge.

However, it is only possible if the SuperTrend and the Neckline levels at $220 to $225 are breached successfully. Alternatively, a dip below $182 will invalidate the aforementioned bullish scenario.

Source: https://ambcrypto.com/bitcoin-sv-price-analysis-19-january

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