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Bitcoin Will Surge 500% This Year As Tsunami of Cash Comes Back to Crypto, Says BTC Firebrand Max Keiser

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Early Bitcoin investor and proponent Max Keiser is undeterred by the recent crypto market crash.

In a new interview on The Wolf of All Streets podcast, Keiser says massive money printing and fresh signs of inflation will force companies to increasingly buy BTC this year.

He sees corporations taking part in a Bitcoin buying spree that fuels a 500% price surge by the end of 2021.

“When corporate America really runs out of room to finagle and to escape the Bitcoin reality, they’ve got to make the move. I think it happens in 2021. My price target for 2021 is still $220,000 per Bitcoin. It’s an aggressive price target, but it’s based on the US dollar running into severe trouble.”

Keiser points to MicroStrategy’s initial $1 billion Bitcoin purchase, spearheaded by CEO Michael Saylor, as the tipping point for an era of corporate investment in Bitcoin.

“He’s thrown down the gauntlet. And so now, every CFO and every CEO and every board member of every public company now has to take that on board.”

Keiser also highlights comments from legendary institutional investor Paul Tudor Jones, who says BTC is a digital form of gold that’s likely the fastest horse in the race in an era of inflation.

“Institutions realizing that inflation is in fact not transitory. It’s secular. It’s structural. It’s here for the long haul. And if you’re not protecting yourself, you’re going to be wiped out. And as Paul Tudor Jones said about Bitcoin, it’s the fastest horse in the race, when he’s comparing it to gold for example. So you get this wave – a tsunami of cash – comes back into Bitcoin.”

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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.

Source: https://dailyhodl.com/2021/05/30/bitcoin-will-surge-500-this-year-as-tsunami-of-cash-comes-back-to-crypto-says-btc-firebrand-max-keiser/

Blockchain

Owners Of South African Investment Platform Vanish, Alongside 3.6 Billion USD Worth Of Bitcoin

The owners of the South African crypto company AfriCrypt have reportedly vanished and took off with 69,000 BTC. Largest Exit Scam ever? In April 2021, the two brothers who co-own the investment firm AfriCrypt, turned to their users, stating that the platform has been hacked, leading to a damage of 69,000 BTC, which were worth […]

The post Owners Of South African Investment Platform Vanish, Alongside 3.6 Billion USD Worth Of Bitcoin appeared first on CryptoCoin.News.

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The owners of the South African crypto company AfriCrypt have reportedly vanished and took off with 69,000 BTC.

Largest Exit Scam ever?

In April 2021, the two brothers who co-own the investment firm AfriCrypt, turned to their users, stating that the platform has been hacked, leading to a damage of 69,000 BTC, which were worth 3.6 billions USD at that time. This claim has since then lost most of its credibility, since the brothers cannot be reached anymore.

The South African law firm Hanekom Attorneys, who handle the case on behalf of the victims, believe the incident to be an exit scam, rather than a hack. By their account, employees of AfriCrypt had already lost access to the platform’s backend seven days before the alleged hack. The fact that the owners of AfriCrypt urged investors not to take legal action made the law firm even more suspicious. If proven true, this would make AfriCrypt the largest exit scam in history.

10% Daily Return too good to be true

Reportedly, AfriCrypt attracted new investors by promising them a whopping return of 10% on a daily basis. Additionally, the investment firm promised referral rewards for bringing in more customers. Unrealistically high returns like this should automatically make anyone suspicious, but greed and FOMO drive investors into the arms of fraudulent investment companies and crypto projects.

For the scammers, this is a highly profitable business model, as can be seen by the example of the TRON blockchain. Besides gambling, TRON is notorious for “high risk” investment platforms that typically promise daily returns on the same scale as AfriCrypt, but pull an exit scam shortly after their scheme has gained enough traction.

The success of these fraudulent schemes is a result of the huge influx of new and inexperienced investors over the last months. Just recently, the UK-based Financial Conduct Authority warned against unregulated crypto companies, which operate in a legal grey market.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptocoin.news/news/owners-of-south-african-investment-platform-vanish-alongside-3-6-billion-usd-worth-of-bitcoin-54425/?utm_source=rss&utm_medium=rss&utm_campaign=owners-of-south-african-investment-platform-vanish-alongside-3-6-billion-usd-worth-of-bitcoin

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Bitcoin: Everything you need to know about the ‘Magnificent F#^%ery’

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In the words of Michael van de Poppe, “Magnificent fuckery going on today on crypto and Bitcoin”, that does seem to be the case as Bitcoin in the late hours of June 22, fell below $29,000 and created a new wave of panic in the market. Analysts and traders had been holding $29k as an important support level ever since BTC started to fall. While the king coin did bounce back in a very short span to trade at $34,156 at the time of this report, it established new important levels in the market.

How much lower can Bitcoin go?

Since the BTC market’s volatility has roused every investor, analysts have lost hope in the coin to maintain close support. As the coin reached a low of $28,800 yesterday, it negated all gain that the coin had made since the beginning of 2021. At the start of this year, BTC was at $29,400 and as the coin fell below that point, $24k was seen as the only strong support going forward. Michael van de Poppe furiously tweeted,

“Let’s have that final crash to $24K and get over it #Bitcoin [sic].”

Next critical support level | Source: Michaël van de Poppe

However, this dip helped identify the next important levels for Bitcoin. According to Poppe $35,500 is the next crucial breaker. This is because the previous breakout, in Feb 2021, occurred at the same mark. For the coin to engage in a solid bull run, BTC will have to breach that level. 

In another story, the dip confirmed the speculated head and shoulder (HnS) formation as the fall helped establish an accurate neckline. According to popular trader DonAlt, the HnS pattern created the neckline at $32,000. Historically, the neckline has been observed to mark an important breakout level as the coin usually bounces upwards from it. Nonetheless owing to the volatility, the range between $20k and $32k can rustle Bitcoin’s movement in either direction.

BTC Head and Shoulder formation | Source: DonAlt

In an interesting development, Bitcoin’s present movement seemed to have negated the June 19 death cross’s effect. Trader and analyst Rekt Capital brought this to attention, as the 4-year cycle (4YC) begins to move in ways expected but not as the death cross suggests.

Based on previous observations, the recent death cross should have had BTC retrace towards the $18k – $20k levels. Even though the levels do represent the 4-year cycle level (red line), in order to reach them, BTC will have to lose the active 4YC level of $29,000 (black line). 

The 4-year cycle pattern | Source: Rekt Capital

Why is everyone selling?

Following the dip, panic selling ensued and its effects could be observed very clearly on the market. The sudden burst of selling by short-term holders turned in favor of long-term holders as they started accumulating heavily. Similarly, the number of active Bitcoin addresses came down significantly reaching a 14-month low of 43,639.482 (ref. Glassnode 7D MA chart).

Long term and short term holder’s movement | Source: Michaël van de Poppe

Falling Bitcoin active addresses | Source: Glassnode

Moving forward investors should watch the aforementioned levels in determining their stance on buying/selling BTC. Just make sure the volatility doesn’t rattle you.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-everything-you-need-to-know-about-the-magnificent-fery

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Is a Bitcoin Crash on the Horizon as Mempool Clears ?

Bitcoin Mempool Crash

Rate this post The Bitcoin Memory Pool or Bitcoin Mempool has cleared out for the first time since November 2020, signaling an impending crash in the largest cryptocurrency’s value. The trend was highlighted by Timothy Peterson, an investment manager at Сane Island Alternative Advisors, who suggested the clearing is a sign of lower demand for BTC. Bitcoin Mempool Is a Great Indicator of a Potential Crash Peterson noted that the primary cryptocurrency’s mempool is a great indicator of bubbles in the market. Clearing of the mempool is indicative of reduced demand for the digital asset, which eventually creates pressure on its prices and forces them to pull back.  Explaining this effect, Peterson wrote, “Right now there is low demand.  This puts downward pressure on price.  Price *should* adjust down to Metcalfe value over the coming months, but leverage and inertia may help prop it up.” For those not in the know, the Bitcoin Mempool is akin to a waiting room for all unconfirmed transactions on the network before they are aggregated to create a block. As Peterson puts it, “You can think of the mempool as demand for space on the #bitcoin blockchain.” Interestingly, the clearing of Bitcoin’s mempool coincides with China’s clampdown on mining activities in its country, which resulted in a major hash rate dump. It’s worth noting that a stable mempool suggests that the network has enough mining power to comfortably support all transactions. If the hash rate declines, it becomes difficult for existing miners to cope with it. Mempools Brimming With Transactions Coincide With Bull Markets Historically, the accumulation of a large number of pending transactions in Bitcoin’s mempool has pointed at a bull market.  For instance, in February the total number of transactions in the mempool exceeded 125,000 — which represents 149 megabytes of data — that could fill up 107 blocks. Before that, in December 2020, Bitcoin’s mempool had more than 143,000 transactions lined up for processing. Both these instances occurred when Bitcoin markets were bullish.  

The post Is a Bitcoin Crash on the Horizon as Mempool Clears ? appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The Bitcoin Memory Pool or Bitcoin Mempool has cleared out for the first time since November 2020, signaling an impending crash in the largest cryptocurrency’s value. The trend was highlighted by Timothy Peterson, an investment manager at Сane Island Alternative Advisors, who suggested the clearing is a sign of lower demand for BTC.

Bitcoin Mempool Is a Great Indicator of a Potential Crash

Peterson noted that the primary cryptocurrency’s mempool is a great indicator of bubbles in the market. Clearing of the mempool is indicative of reduced demand for the digital asset, which eventually creates pressure on its prices and forces them to pull back. 

Explaining this effect, Peterson wrote, Right now there is low demand.  This puts downward pressure on price.  Price *should* adjust down to Metcalfe value over the coming months, but leverage and inertia may help prop it up.”

For those not in the know, the Bitcoin Mempool is akin to a waiting room for all unconfirmed transactions on the network before they are aggregated to create a block. As Peterson puts it, “You can think of the mempool as demand for space on the #bitcoin blockchain.”

Interestingly, the clearing of Bitcoin’s mempool coincides with China’s clampdown on mining activities in its country, which resulted in a major hash rate dump. It’s worth noting that a stable mempool suggests that the network has enough mining power to comfortably support all transactions. If the hash rate declines, it becomes difficult for existing miners to cope with it.

Mempools Brimming With Transactions Coincide With Bull Markets

Historically, the accumulation of a large number of pending transactions in Bitcoin’s mempool has pointed at a bull market. 

For instance, in February the total number of transactions in the mempool exceeded 125,000 — which represents 149 megabytes of data — that could fill up 107 blocks. Before that, in December 2020, Bitcoin’s mempool had more than 143,000 transactions lined up for processing. Both these instances occurred when Bitcoin markets were bullish.

READ  Bitcoin Whales Crash Price Using Same Dirty Tactics & Was Satoshi A Cartel Lord?

#Bitcoin Bubble #Bitcoin Crash #Bitcoin Mempool

Source: https://www.cryptoknowmics.com/news/is-a-bitcoin-crash-on-the-horizon-as-mempool-clears/

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