Teeka Tiwari Bitcoin Price Prediction: BTC Will Hit 70k “Sooner than People Realize”

Bitcoin just reached its highest point since 2018, and some analysts believe it will surge to new all-time highs in the near future.

Crypto investment analyst Teeka Tiwari predicts bitcoin will reach $60,000 or $70,000 “a lot sooner than most people realize.”

In a recent Zoom call with Chris Lowe of Legacy Research Group, Teeka specifically predicted bitcoin growing as high as $60,000 or $70,000 USD.

Although Teeka did not issue a timeline for his prediction, Teeka insisted we’ll see cryptocurrencies with “multitrillion-dollar market caps” within the near future – similar to how stocks like Amazon and Apple have multitrillion-dollar market caps today:

“You will see cryptocurrencies with multitrillion-dollar market caps – like how you now see stocks like Amazon and Apple with multitrillion-dollar market caps.”

Teeka made the prediction back in August when bitcoin was hovering between $10,000 and $12,000.

Over the last few weeks, bitcoin has surged to recent highs, reaching as high as $13,793 on October 27. Although the price has retreated slightly in recent days, some are calling for bitcoin to reach a new all-time high before the end of 2020.

Teeka deliberately did not put a timeline on his prediction, stating that he did not want to get backed into a corner – similar to how other cryptocurrency ‘gurus’ have looked foolish when their price prediction dates have come and gone:

“I’m not going to paint myself into a corner and say when. But it will happen a lot sooner than most people realize.”

2020 has been an uncertain year for everything, but bitcoin has remained relatively steady throughout the year. The world’s biggest cryptocurrency has continued to slowly accumulate market cap throughout the year.

While some believe there will be a correction before the end of this year, others believe bitcoin will surge. We could see a tumultuous end to 2020. With the US presidential election and uncertain COVID-19 treatments, bitcoin could be a safe haven for investors in a world of uncertainty.

In his interview, Teeka claims we’re in “maybe the second half of just the first inning of this bull market.” As much as bitcoin’s price has surged in recent months, Teeka believes this is just the first 10% of the bull market – with the remaining 90% surge still to come:

“We’re in maybe the second half of just the first inning of this bull market. You’re going to see bitcoin reach $60,000 or $70,000.”

Why Bitcoin Could Surge to All-Time Highs

There are reasons to be optimistic about bitcoin in the near future. Teeka and his team have collected all of the following evidence showing the long-term viability of bitcoin and digital currencies in general:

Fidelity (one of the world’s largest asset managers), Intercontinental Exchange (ICE, the owner of the New York Stock Exchange), and JP Morgan Chase (one of America’s largest banks) are creating crypto products and services for clients.

Walmart, Visa, IBM, Citigroup, and UPS are adopting blockchain technology, using it to track supply chains and cross-border transactions.

Billionaire hedge funds are allocating a portion of their portfolios towards bitcoin, and a growing number of asset managers recommend putting a slice of your portfolio into alternative assets like bitcoin.

The Department of Defense, the Secret Service, and NASA work with blockchain technology for national security and space exploration.

The central banks of China, Sweden, and France are exploring the launch of their own digital currencies called Central Bank Digital Currencies (CBDC) that could change the future of national currency as we know it.

It’s not all good news for crypto, however. On October 30, bitcoin abruptly dropped 4% as Bank of America predicted a 20% market crash. The Dow Jones Industrial Average has declined 7.55% since October 12, and some suggest this winter will be the end of the market’s historic bull market – leading to uncertain times for bitcoin.

Of course, critics argue that uncertain times lead to a surge in bitcoin prices. Bitcoin delivers that coveted ‘alpha’ investors seek. Bitcoin rises or falls on different factors than traditional markets, and it’s not tied to the economy of any specific country.

Teeka first approached the Legacy Research Group team back in 2016, advocating for them to cover cryptocurrencies.

Clearly, Teeka believes bitcoin’s brightest days are ahead. Stay tuned to see if bitcoin reaches $60,000 to $70,000 within the near future.

The long time bitcoin advocate is also hosting an upcoming event on Wednesday, November 11, 2020, at 8 PM ET called Teeka Tiwari’s Crypto Catch-Up event. The Crypto Catch Up webinar hosted by Palm Beach Research Group’s Teeka Tiwari will be referred to as ‘The Last Chance To Get The Life You Want,’ where the cryptocurrency countdown will take place.

During the Crypto Catch Up event by Teeka Tiwari, Mr. Big T, or The Crypto Oracle, will be revealing his top coin pick for 2020 along with five additional coins that he believes are destined and due to post great gains in the coming months and years ahead. The event is absolutely free to sign up and watch, giving highly educational materials for anyone who attends and watches the live in-person summit.

Again, The Crypto Catch-Up: Your Last Chance to Get the Life You Want event with Teeka Tiwari is the latest and greatest offering from one of America’s most trusted crypto analysts, having been recommending Bitcoin when it was $429 BTC/USD and Ethereum at $9 ETH/USD all the way back in 2016. The new crypto event is on Wednesday, November 11th, at 8 PM ET and is a must-see actionable event that will provide invaluable insights and analysis, along with Teeka Tiwari’s top crypto coin ticker symbol to buy right away just for signing up today.

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Author: Andrew Tuts

Bitcoin Prices Expected to Drop to As Low As $4,500 According to Market Analysts

Lately, Bitcoin (BTC) has assumed a consistent bearish market trend, and analysts are skeptical of a recovery any time soon. Many of the renowned market analysts opine that the BTC price will continue dropping even lower or trade at $5,500 for months before recovery. Peter Brandt wrote on his Twitter on November 21 that his target for bitcoin is a $5,500 floor after the price went below the $6,850 support level on that day.

Many investors may be expecting a market reversal, but the bearish trend may last longer than expected. The crypto industry should be ready for a surprise as Tone Vays, an investor, believe the BTC price may get to as low as $4,500.

The current market trend has led to market volatility due to short term bullish that may suggest a reversal. The price has been dropping from one support level to the next in the past weeks. BTC traded at highs of $13,000 from where the price began dropping. In July, it traded below $9,500 and recently went below the $8,200 support level and has been dropping ever since. The market is expected to maintain at an average between $6,900 and $8,200 because the next lower support level is quite far and might take till January to reach there.

According to a recent report by Cointelegraph, Stock-to-Flow model predicts that BTC/USD will trade at an average of $8,300 till May 2020. From May next year, the market is expected to take a bullish trend, which is attributed to the Block Reward Halving event. The effects of the event on Bitcoin price are evident seven months before it actually happens. This event will trigger Bitcoin prices upward and might lead to the recovery of significant highs.

This week alone, BTC has dipped over 15%, and according to Willy Woo, an analyst, this is a sign that the markets are destined to move forward. Woo predicts more volatility due to low lows and low highs, which are considered bearish. He also doesn’t expect the price to get to past halvenings.

Investors should, however, expect a short-term reversal as the price tries to get back to the $8,200 resistance level. So far, bulls have only been achieved through short time frames of an hour or less, and traders are afraid of buying. If the $7,400 level is not breached soon, then bulls will be disappointed by more downward pressure.

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Author: Denis Miriti

Breaking: Bitcoin Price Drops to Nearly $9,900 Yet Again

  • Analysts and traders expecting a downward move

Bitcoin is back in the red zone.

Starting the day around $10,175, Bitcoin continues its downward move, going down to as low as $9,913.

Currently, BTC is trading at $9,993 with 24 hours loss of about 2 percent, as per Coincodex. Daily trading volume registered by the leading cryptocurrency is still low at $490 million.

Analysts and Traders Expecting a Downward move

Analyst The Cryptomist says,

“I am looking at one more touch on RSI pennant on both support and resistance before big move!”

Another bearish projection is made by veteran trader Peter Brandt as he comments on Bitcoin’s descending triangle.

“One thing I have learned from 45 years of trading: Markets have a tendency to do what the most number of market participants least expect and don’t want to happen. Descending triangles are most often bearish.”

And another bearish one,

Trader and investor Josh Rager also sees Bitcoin heading back down to $9,600 to $9,700.

Altcoins Following Bitcoin

We started the week at above $10,300 only to take a drop to almost $10,000 level and then back above $10,300 on the same day.

After not registering much movement rest of the week, on Sept. 19, Bitcoin tumbled down to $9,600, losing almost $500 under 5 minutes.

Then, the same day BTC price went back to $10,300 and since then it has been constantly moving downwards.

Altcoins, after having a great start of the week are back in the red with Stellar (XLM) in the lead registering 5.61% loses.

Interestingly, the total market cap has come back to where it started the week at $266 billion. During this week, we went as high as $273 billion and dropped as low as $261 billion, to no effect.

BTC dominance, on the other hand, is currently at 69.4%, down from 71.6% from earlier this week and 73.5% from earlier this month, as per TradingView.

Next week is expected to be an interesting one as two big events, in the form of Bakkt’s physically settled Bitcoin futures launch and CME’s Bitcoin futures expiration are projected to define the BTC price movement for the coming weeks or months.

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Author: AnTy

As Negative-Yielding Debt Hits Record $17 Trillion, Bitcoin’s Need Only Increases

The negative Yielding Debt continues to increase and analysts say that this is good news for the adoption of Bitcoin.

The escalating U.S.-China trade war, political tensions in Italy, Hong Kong and Argentina and disappointing economic data from China to Germany have fueled demand for haven securities this month. Strategists are increasingly speculating Treasury yields could join the below-zero club, something former Federal Reserve Chairman Alan Greenspan said wouldn’t be that big of a deal.

Government debt around the globe has rallied in sympathy with bets on U.S. rate cuts. German bund yields dropped to a new low in the build-up to the Fed announcement, while Japanese peers rose before the Bank of Japan released its monthly debt-purchase plan.

Popular crypto analyst Rhythm tweeted on the matter:

Buying into the near $17 trillion heap of global bonds with negative yields might sound like a losing proposition. But for some investors those who predicted correctly that bond prices this year would climb amid worries about sluggish global growth, negative yields actually have been a cash cow.

Whitney George, president of a precious metals hedge fund told:

“We’re now going from trade wars almost into currency wars. Gold is a currency, but it’s nobody’s obligation, so it will stand tallest when everyone else is trying to debase their currency to be competitive globally.”

Raoul Pal, the former head of Goldman Sachs’s hedge funds sales business put cryptos in the same conversation as Gold and says:

“So what the hell does a millennial do to save for your future, when almost all assets have negative imputed returns for the next 20 years, 10 years? And the answer is well, you take the optionality of cryptocurrency and Bitcoin.”

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Author: Sritanshu Sinha

Fundstrat’s Tom Lee: Bitcoin Is A Great Safe Haven Asset, Can Reach New All-Time Highs This Year

Tom Lee, one of the senior analysts of Fundstrat Global Advisors, has recently affirmed that Bitcoin is the “genuine safe haven” asset during a recent interview for Fox Business.

According to him, whenever there is political turmoil, crypto prices tend to go up a lot. This happens because people are trying to protect their assets from devaluation, so they use Bitcoin. The premium in markets such as Hong Kong right now is proof of that.

Bitcoin Is Good For A Diverse Portfolio

The investor also affirmed that BTC has been doing great this year. After the bear market, the asset was worth only over $3,000 USD and now it has surpassed $10,000 USD and stayed there. The future is set to be even better, he believes, and the all-time high can be broken before the end of the year.

Lee affirmed that BTC is a great strategy for diversification mainly because it is not really correlated with the rest of the market, so it does well when the traditional market is not doing well.

He believes that investing at least 1 to 2% of your portfolio in BTC is the best bet for times such as the one we are in.

The crypto community surely wants Lee to be right. The market was very popular when prices were going up a few months ago and most people still believe that BTC will rise more and take the whole altcoin market together to the moon.

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Author: Bitcoin Exchange Guide News Team

Wall Street Analyst Dan Dolev Is Bullish On Jack Dorsey’s Undervalued Square Cash Payment App

Wall Street Analyst Dan Dolev Is Bullish On Jack Dorsey's Undervalued Square Cash Payment App

It is rare when analysts that are used to watching Wall Street business appreciate crypto-based businesses.

But we’ll take it when it comes. Dan Dolev of Instinet recently had some good words in favor of Jack Dorsey’s Square.

Square markets several software and hardware payments products and has expanded into small business services. The company was founded in 2009 by Jack Dorsey and Jim McKelvey and launched its first app and service in 2010. It has been traded as a public company on the New York Stock Exchange since November 2015 with the ticker symbol SQ.

Dan thinks that the current value of Square stock, which is currently around $74 is a steal and should be worth around $100. This means according to him, the stock is worth 33% lesser than it should be.

Square has had great timing: investors have been eagerly buying payment company stocks, encouraged by the mega-shift toward online commerce and electronic transactions.

Dorsey really thinks that cryptos are the future of finance. Earlier when asked about this topic in an interview with QZ, he said:

“As we bring more people online, we can also imagine a trend in parallel where they all have access to the same currency, and there are still conversions to a local currency like the pound, but being able to have one currency really takes away some of the barriers of the past and how we think about global markets. And having a global currency that is native to the internet will allow companies like ours to move much faster and reach a lot more people.”

On May 1, Square forecast second-quarter earnings per share of 14 cents to 16 cents, below analysts’ average estimate of 18 cents. But it expects revenue in the range of $2.25 billion – $2.28 billion, above its previous forecast of $2.22 billion – $2.25 billion. Square will keep re-investing its profits back into its business.

Its investments in the software will increase its customer base, as changes in its software will heighten the experience of all its customers.

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Author: Sritanshu Sinha