Bitcoin To Explode Again (55K!) *MASSIVE Bitcoin News* | Bitcoin Price Prediction!

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miss the next big news in the crypto space. All right. So today we're going to be discussing the
massive bitcoin explosion that is about to happen. So there have been predictions that
Bitcoin will hit fifty thousand, even twenty twenty, but we're in twenty twenty one now. This prediction was done by
Nexon co-founder Anthony Transship. He said that he thinks that very easily. We could see Bitcoin going up to fifty
thousand by the end of that year. Well, Bitcoin didn't hit fifty thousand twenty twenty,
but at least it crossed a new record. And by the end of
the year it was nearly 30000. And now what are we have in this year? Bitcoin had hit a whopping
forty two thousand this year.

That is massive. So what's this,
about fifty five thousand predictions? Well, that's the next stop. One indication
that this is possible is this. Consider that when we anticipate a twenty thousand
Bitcoin did not only cross the twenty thousand mark, but when it had to break thirty
thousand and then 40000 and is now sitting pretty comfortably between these two. The question is, are these enough signs to
buy and wait for fifty five thousand bitcoins? Volatility is one thing to look out for. We've seen Bitcoin increase by up to
five thousand in a single day. That's a lot in just one day. This is also possible where there's a dip. So it goes both ways. However, crypto market experts say as
the institutional investment in bitcoin increases, the currency will see stronger
support during price steps.

Bitcoin is different from stocks or commodities, and
right now, a lot of new buyers are still coming in. As more companies and individuals
shift savings into Bitcoin, we may see stronger support during its price dips. A correction cannot be avoided, but
it may not be that deep. As we've seen, new investors will be
ready to help consolidate the market. Bitcoin can easily get past fifty thousand
in the coming months or even weeks. Garrick Hellman, head of research, a block chain
Dotcom shares his view the Bitcoin could hit fifty four thousand
and twenty twenty one. He said that his expectation is that Bitcoin
will become a trillion dollar asset as early as next year. Hillman's prediction is based
on wider adoption by institutional investors and the increasing number of
people owning crypto currencies.

Now, more than 100 million
people own cryptocurrency is globally. The famous hedge fund manager, Michael Novogratz, also
said that it's easy for him to see Bitcoin being at fifty thousand next year, saying
the Bitcoin could even outshine gold in the next few years. He made the statement in
twenty twenty and we're already in the year that he predicted Bitcoin will
sell for fifty thousand. So we're expecting this to
happen any moment now. Let's not forget that he was among the
people who predicted Bitcoin would sell for ten thousand and the prediction was correct. We sincerely hope that this is also correct. Adoption and recognition from giant investors and
Wall Street firms are the main driving force behind Bitcoin's 20 20 rally, the
likes of companies like Greyscale, PayPal and Square are now adopters of Bitcoin, and the news
of their adoption has been very kind to Bitcoin as it continues to rise.

The UK company called Rougher, has also
confirmed that it's purchased about five hundred and fifty million sterling worth of Bitcoin, amounting
to two point seven percent of the firm's assets under management. Bitcoin is one of the few things that benefit
from the pandemic is a lot of people, due to their concerns for economic recession
and inflation, have moved towards Bitcoin. Another factor that could push Bitcoin
higher is the liquidity crisis. It's been noticed the number of Bitcoin stored
on exchanges have been in sharp decline since February. MicroStrategy just announced that
it has purchased thirty thousand Bitcoin. Now the leading Bitcoin
awale has 70000 Bitcoin. And it's a, um.

With Wale's accelerating
their pace to buy more Bitcoin analysis estimates that there's only three point
four million currently liquid bitcoin for investors. Furthermore, Coinbase applying for IPO will
be a milestone for the whole crypto space going mainstream and regulated 10
years after its coming into existence. Bitcoin is no longer a bubble pursued by geeks,
but an asset with the potential to become a global currency. So once again, is a
bullish run imminent in twenty twenty one, twenty twenty was full of uncertainties. And of course we don't know what's
in store for twenty twenty one. These uncertainties are expected to mount pressure
on people to better allocate their funds to hedge risks.

So the value of Bitcoin is expected
to gain higher recognition in the future. However, Bitcoin is an asset with high volatility,
so traders should be aware of huge price swings and manage their positions. But high volatility presents many opportunities
to make money with leverage trading traders can long and short bitcoin while
gaining bigger exposure with their funds. Let's consider what Brian Estos, the chief investment
officer at hedge fund off the chain capital, said. He said that he's seen Bitcoin go up
10 fold, 20 fold, 30 fold even in a year. So going up five fold
is not a big deal. That is from twenty thousand
to one hundred thousand. As this predicts, Bitcoin could hit between
one hundred thousand dollars and two hundred eighty eight thousand dollars by the end of
twenty twenty one, based on a model that utilizes the stock to flow ratio measuring
the scarcity of commodities like gold. That model, he said, has a 94
percent correlation with the price of Bitcoin.

City technical analyst Tom Fitzpatrick also predicted
that Bitcoin could climb as high as three hundred eighteen thousand dollars by the
end of twenty twenty one, citing its limited supply, ease of moving
across borders and opaque ownership. This chart shows Bitcoin
in a fitting channel. The channel is a massive ascending one. Most of the prices have been within this
channel, the recent high, which is around forty two thousand. It's also
right within the channel. The prices of tried to test the lower line
of the channel and what seems like four instances while the upper boundary
has been tested just twice. This charts interpretation reveals that Bitcoin
price will continue within this channel and reach a top point right around fifty
five thousand before a correction would take place.

Notice the red zigzagging line within the
channel, this line is indicative of the predicted movements in the
coming weeks and months. The prediction also advises a short after
Bitcoin hits its high position somewhere around fifty five thousand, because there is a higher
chance of the prices will start on a decline. At this point, there will
be a massive profit taking. This chart obviously shows the Bitcoin is expected to
continue on a bull run up to forty nine thousand and beyond. Notice how Bitcoin's price has managed to test
the blue support line a few times and bounced off. The support line
is around thirty five thousand. In this chart, we can see a predicted bullish
run beyond the current overall high and up to forty nine thousand. The chart also shows
that there's a possibility that it extends beyond forty nine K confirming our hopes
of a massive fifty five thousand. Also, let's take a look at this chart. This chart shows the daily prices of Bitcoin.

You can notice the labeled horizontal
lines of support and resistance. This chart predicts the bitcoin is going to
defy the odds and surge past the resistance line to about fifty five thousand. If you trace the blue arrowhead, you'll
notice this trend according to this chart. Likewise, there's a prediction that Bitcoin would
test the resistance, which is around the current highest rate,
and then bounce off. This is a slight correction in the market
as Bitcoin prepares and gathers momentum for its next move. This time, it's going to whisk
past the resistance to attain a new high, which is somewhere around the
massive fifty five K. So prepare for the bulls and for
traders, be ready to launch your trades. So examining all these different charts, we can
see that there's a lot of likelihood that Bitcoin is going to attain fifty five thousand very
soon and we should be ready to buy or long as the case may be. However, a proper independent analysis is still
necessary to determine the best time to enter the market. As I've always said, Bitcoin is
very volatile and one can lose a lot of cash of care is not taken if you
notice the charts, there are predictions of correction during which the price is expected
to fall to enjoy profit.

During this period, one would
have to short Bitcoin. This can also lead to a loss if the market
is not well studied and a bull run happened instead of an expected bearish movement, it is
important to set stop loss when entering the market. When a long train is executed, likewise
profits will be earned if and only if Bitcoin continues in a bullish run. A downward movement of the price would lead to
a loss and depending on how far the movement is, the loss can be enormous. Also, a stop loss can help reduce
the risk in this case as well. For long term investors. We've seen that it's very likely that Bitcoin
hits fifty five thousand sometime in twenty twenty one. So it is advisable
to buy Bitcoin and hold. What long term investors will need
in this case is patience.

Also, they need to learn how to
deal with panics when a dip occurs. Once again, Bitcoin is very volatile and a
dip can make you rethink your choices. That's why it's necessary for you to do your
own assignments very well before you buy and hold Bitcoin. There's no doubt there's
going to be a massive explosion. And when this happens, we expect to see a
lot more people and companies join us in the crypto space. So be
prepared for this explosion. As you can't say that
you didn't see it coming. Crypto Lion told you about it. We're fulfilling our promise of keeping you
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