Todd Gordon, grunnlegger av TradingAnalysis.com, har hevdet at det neste prismålet for flaggskipet bitcoin bitcoin er „ca $ 74 000″ basert på Elliott Wave-teorien.

Mens han snakket om CNBCs “ Trading Nation „, bemerket Gordon at det er vanskelig å gi BTC en grunnleggende verdi „fordi det er stort sett en begrenset forsyning“, da bare 21 millioner bitcoins noen gang vil bli produsert. I et forsøk på å se hvor prisen på Bitcoin Up kunne være på vei, brukte Gordon Elliott Wave-teorien .

Han sa:

Det er en fantastisk måte å verdsette krypto på fordi Elliott-bølgen er ment å oppdage gjetermentaliteten og følelsene som driver prisen – frykt og grådighet – og det skaper veldig gjenkjennelige mønstre.

Gordon la til at teorien er basert „på ideen om at det er fem bølger i en primær trend, tre [opp] trender og to mellomliggende korrigeringer.“ Den første bølgen han pekte på skjedde i 2014 og ble etterfulgt av en nedgang i 2015 og en oppadgående trend gjennom 2018.

Den fjerde bølgen, sa han, dannet „en slags sidelengs trekant“ de siste to årene, og den femte kan være den som tar BTCs pris i forhold til den forrige rekordhøye tiden. Teorien forutsier angivelig et „pålitelig forhold“ mellom den prosentvise distansen som ble reist i den første bølgen og den prosentvise endringen i den femte bølgen. I 2014 økte BTCs pris 658%.

Den tekniske handelsmannen konkluderte:

Jeg kan ikke tro at jeg kommer til å gå ut på CNBC og si dette, men det handler om 74.000. Elliott-bølgen passer veldig bra sammen med … Fibonacci-multipler. Hvis den ønsker å komme til kort, kan den gå til 61% av det målet, som bare er på 34.000.

Ved pressetid viser CryptoCompare-data bitcoin handler til $ 19,150 etter å ha steget opp over 160% fra år til i dag. På CNBC gjorde Mark Tepper, president og administrerende direktør i Strategic Wealth Partners, også bullish BTC-prisforutsigelser.

Konsernsjefen sa at han inntil nylig hadde behandlet bitcoin som en spekulativ investering som representerte en brøkdel av porteføljen hans. Hans tilnærming endret seg når PayPal og andre børsnoterte selskaper begynte å komme inn i kryptovalutaområdet.

According to cryptanalyst firm ByteTree, the popular stock-to-flow model is not a reliable indicator for long-term Bitcoin price action.

The stock-to-flow model is flawed, according to Charlie Morris, co-founder and CIO of the cryptomontage data firm ByteTree.

According to the popular theory developed by quantitative analyst Plan B, the limited supply of Bitcoin is the key feature that will cause its price to exceed $100,000 in 2021 and beyond.

However, as Morris explained in a recent report, the progressive reduction in new supply will not be enough to drive the price of Bitcoin up. According to Morris, the stock-to-flow theory does not take into account the importance that the decrease in flow (the additional supply of BTC) will have on the price of Bitcoin compared to the stock (supply currently in circulation).

Although it is true that there will be a diminishing supply of freshly mined Bitcoin, Morris pointed out, people will still be able to sell their Bitcoin Optimizer, thus meeting market demand.

With this view, Morris draws a similarity to other scarce assets such as gold: „No one thinks that if you close down gold mining, the price of gold will go sky-high. It’s just not the way it works.

The fundamental factor driving the price of Bitcoin, according to Morris, is the level of activity on the Bitcoin network. In short, an increasing amount of Bitcoin changing hands is what will take the market-leading cryptomoney to new highs.

„The amount of money being transferred on the network … and the price of Bitcoin are highly correlated and always have been,“ he said.

In addition, as Bitcoin matures as an asset, macro factors such as inflation, bond yields and dollar performance will increasingly influence its price.

To watch this full interview, watch it on our Youtube channel – don’t forget to subscribe!

Not enough Bitcoins for everyone?

The number of billionaires who reveal they own Bitcoin (BTC) is growing every day. This time it is the extremely wealthy Mexican businessman, Ricardo Salinas Pliego, who claims to own BTC. He even promotes a maximalist book on Bitcoin.

A billionaire with 10% of his cash in BTCs

Ricardo Salinas Pliego is the founder of Grupo Salinas, a group of companies covering, among others, the telecommunications, media and financial services sectors. His personal fortune was estimated at $13.2 billion in February 2020.

In a tweet published on November 18, Ricardo Salinas Pliego begins by recommending a book on Bitcoin, which praises the creation of Satoshi Nakamoto as „a decentralized alternative to central banks“.

At the end of his message, he also reveals a barely believable fact. The third richest man in Mexico is said to trust Bitcoin, to the point of investing a large part of his liquid assets in it:

„(…) Bitcoin protects citizens from government spoliation. Many people ask me if I have Bitcoin YES! I’ve invested 10% of my cash portfolio in it. »

Hoy les recomiendo EL PATRÓN BITCOIN, este libro es el mejor y más importante para entender #Bitcoin.

El Bitcoin protects the child from gubernamental expropriation.

Muchas personas me preguntan si tengo bitcoins, SÍ. Tengo el 10% de mi portafolio líquido invertido en el pic.twitter.com/6LtFVCXvuA
– Ricardo Salinas Pliego (@RicardoBSalinas) November 17, 2020

By way of comparison, billionaire Paul Tudor Jones admitted to owning „only“ 1-2% of his bitcoin assets.
Paper money is worth „nothing“.

In another tweet, Ricardo Salinas Pliego explains that he has not „rushed“ to Bitcoin recently, but that it is a long-term investment, starting with the Grayscale fund in 2016. He began his investment in cryptos with an $800 BTC.

In addition, he explains that the remaining 90% of his cash portfolio is invested in precious metal mines.

The billionaire seems to be looking for safe havens in the face of his fears for fiats. In a tweet preceding his revelations about his crypto-investments, the businessman openly criticized state currencies. In this case, by showing whole bags of banknotes thrown away with the garbage (probably in Venezuela) :

„(…) I am sharing with you a video taken in a Latin American country, where banks throw money in the garbage (paper money is worthless). That’s why it’s always good to diversify our investment portfolio. This is spoliation through inflation. »

To start with the #Bitcoin, compare them with a video shot in a Latin country where the bancos tiran el dinero a la basura (el papel moneda no vale nada) es por eso que siempre es bueno diversificar nuestro portafolio de inversiones .

It’s inflacionaria expropiación! pic.twitter.com/ahblQW6AhO
– Ricardo Salinas Pliego (@RicardoBSalinas) November 17, 2020

Note, however, that the billionaire also seems to have his little grey areas. Ricardo Salinas Pliego, for example, has in the past been in trouble with the U.S. Securities and Exchange Commission (SEC). A case that ended in 2006 with a payment of 7.5 million dollars to the SEC by the interested party, as part of an out-of-court settlement.

In any case, these revelations of billionaires owning Bitcoins are helping to fuel the beginning of a bull market frenzy that seems to be taking hold of the BTC and the cryptos market once again. Who will be the next billionaire to highlight his love for the BTC?