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Bitcoin pioneer Max Keiser, RT host of the Keiser Report nailed it again as Bitcoin went parabolic this morning almost touching his most recent hashrate adjusted BTC price target of $35K.
Max shared the following tweets:
“We’re about to hit my $35,000 hashrate-adjusted BTC target of $35,000 I made last summer. $42,000 now in play.”
“$42,000 in play. Fund managers *can’t* ignore Bitcoin anymore. BTC eyeing 10% of Gold’s market cap near term. Right pointing backhand index Considerably bigger is the bond market. Can Bitcoin disrupt the bond market?”
In other trending Bitcoin News today:
The veteran trader who became popular in the crypto space for accurately calling Bitcoin’s descent from its 2017 parabolic highs says BTC is now in the midst of a new parabolic advance.
In a new video, Brandt highlights that BTC has the potential to rise 50% from its price of around $30,000 after it broke out from a large bullish pattern.
“Right here about where I have the crosshairs was really the start of 2020, and it was really clear back then that Bitcoin was forming a broad symmetrical triangle… This big break that we had in March faked me out a little bit. It gave me a head fake but we quickly held and continued to form this large symmetrical triangle on the bar chart.
We broke out of that triangle in August, retested it in September and the rest is history. If we measure the height of this triangle and project it up from this midpoint high, we get a target in Bitcoin of around $45,000.”
Brandt takes his predictions even further as he shows that BTC is now trading within a parabola, the third in its history. Based on the trader’s outlined parabolic curve, the leading cryptocurrency can meteorically rise to $325,000. But Brandt says the advance can be violated before it hits the peak.
“We are now in the third parabolic advance. The slope of this advance indicates that Bitcoin has a very, very long distance to go before we get even into the area where the parabolic advance might be broken. I would say probably somewhere up in the area of $100,000. So this would be my dominant theme for 2021.”
Bitcoin Technical Analysis:
The price of Bitcoin (BTC) surpassed $34,700 to achieve a new all-time high after a strong overnight rally. Ether (ETH), the native cryptocurrency of the Ethereum blockchain, also surpassed $800 for the first time since May 2018.
Bitcoin’s sudden rally comes as a surprise because it corrected sharply to around $30,300 on Jan. 2. Within 24 hours, BTC rose from $30,300 to as high as $34,778, a 14% rebound.
The main catalysts behind Bitcoin’s rally have been the institutional accumulation of BTC on Coinbase and the short squeeze on Binance Futures.
Throughout the past three days, Bitcoin has been trading much higher on Coinbase than on other major exchanges, as Cointelegraph reported.
This means that aggressive buyers on Coinbase were continuously accumulating BTC despite the premium.
In the meantime, many traders on Binance Futures were shorting BTC, possibly expecting Bitcoin to top out at around $30,000. When Coinbase buyers continued to push BTC upwards, a short squeeze occurred. Analysts at Santiment explained:
“For those expecting a Bitcoin correction to kick off 2021, the $34,000 All Time High achieved 10 mins ago is showing how painful it’s been being a $BTC bear the past 10 months. Avg. trader returns haven’t been this high across the board since June 2019.”
Ether price rallied off of Bitcoin’s strong technical momentum. ETH/USD rose past $800 for the first time since early May 2018, demonstrating renewed momentum after stagnating throughout December.
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Show Notes / News Resources:
– Max Keiser Bitcoin Prediction of $35K: https://bit.ly/3n6PBBm
– Bitcoin Hits News ATH: https://bit.ly/3aVVT4a
– SkyBridge Capital Invest $182M Into BTC
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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