ICOCalendar.Today

  • ICO Directory 📖
  • ICT Token 🔥
  • Blockchain News 🗞
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project 💣
  • Submit Press Release 👍
  • ICO Directory 📖
  • ICT Token 🔥
  • Blockchain News 🗞
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project 💣
  • Submit Press Release 👍

Why This Top Fund Manager Thinks Bitcoin is Ready to Explode Higher

7/21/2020

Comments

 

The ongoing rise in the stock market is unprecedented, and in many ways seems familiar to bubbles seen in years past – including Bitcoin and the crypto market’s meteoric rise in late-2017.

This is causing many investors to grow fearful about the market’s future and has caused some notable investors – like Paul Tudor Jones – to turn towards Bitcoin and other hard assets in order to guard against future economic turbulence.

Although the stock market appears to be strong at the moment, it is being pumped primarily by freshly printed money, which means that inflation could be imminent.

Now, one prominent money manager is noting that he believes silver, gold, and Bitcoin are all poised to explode higher in the near-term.

Hayman Capital Management CIO: Bitcoin Poised to Explode Higher 

Throughout the past several months, Bitcoin has been caught in the throes of an intense bout of sideways trading that has made it increasingly unclear as to which direction it may trend next.

Its macro trading range has been established between $9,000 and $10,000, but its consolidation channel has been narrowing throughout the past few weeks.

Some analysts speculate that this sideways trading could be akin to a spring coiling up to make a big movement. If this is the case, then the cryptocurrency’s break above or below its macro range could catalyze a trend that persists for the rest of 2020.

Kyle Bass – the CIO of Hayman Capital Management – explained in a tweet to his nearly 200k followers that he believes Bitcoin, gold, and silver are all gearing up to see an explosive move higher.

While justifying his reasoning, he notes that global money printing will be the catalyst that helps propel these hard assets higher.

“Silver, Gold, Bitcoin, etc all look to be ready to make explosive moves higher given the sheer amount of money printing going on around the world.”

Critic Claims BTC’s Inability to Outperform Gold is a Grave Sign

In response to Bass’ recent tweet, outspoken Bitcoin critic Peter Schiff explained that he believes BTC’s inability to outperform gold and silver in recent weeks is a warning sign that suggests it is poised to plunge lower.

Schiff does, of course, agree that silver and gold are poised to explode higher.

“I agree with you on silver and gold, but there’s nothing about the Bitcoin chart that suggests a breakout is coming. What are you looking at? The failure of Bitcoin to rally with gold and silver is a warning that it’s headed lower, which confirms its bearish technical pattern.”

In order for Bitcoin to generate upwards momentum based on imminent global inflation, it will require that institutions and individuals turn to it as a store of value due to its fixed scarcity.

Featured image from Unsplash.

Pricing data from TradingView.


Via https://www.newsbtc.com/2020/07/21/top-fund-manager-bitcoin-will-explode/?utm_source=rss&utm_medium=rss&utm_campaign=top-fund-manager-bitcoin-will-explode
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.