What Is Happening With Bitcoin? And What Is NEXT? BTC News, Bitcoin Price Prediction – Bitcoin Price

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notifications so we can tell you whenever we post a new video. It's important that you know about the latest news
and see some interesting market analysis. And this video will examine what's happening with Bitcoin
and what we think is the next thing for Bitcoin. Bitcoin is presently trading at around thirty six thousand
dollars. It's been volatile just as we know it to be since the
beginning of the year, sometime in January, and been a move for a new all time high of around forty three thousand
dollars.

And from there, the prices varied, typically dropping and
rising. There's been a lot of speculation with people predicting
that Bitcoin will rise to as much as one hundred thousand this year. Many people still believe it's going to be an
easy climb for Bitcoin and have come up with various analyses and scenarios that could play this out easily. For instance, Bitcoin Dotcom reported that, according to
the findings of a study by AREK Investment Management, the value of Bitcoin can potentially increase by forty thousand
dollars if all S&P 500 companies allocate one percent of their cash holdings to the crypto.

Similarly, if all these companies were to convert 10
percent of cash holdings into Bitcoin, the value of the crypto asset will potentially rise to four hundred thousand
dollars. This doesn't look like a strange assumption considering the
recent increasing institutional adoption. The Bitcoin and the crypto market generally are
experiencing the study findings, which are based on December 1st. Twenty twenty data seem to get validation from
Bitcoin's price movement after Square and MicroStrategy acquisitions.

As online data shows, the value of the crypto
asset went up after the two companies announced their Bitcoin acquisitions still and making the case for greater
allocation of Bitcoin and institutional portfolios. The study findings also show that during the past decade,
Bitcoin is the only major asset with consistently low correlations to traditional asset classes. Meanwhile, in addition to the price predictions, the study
finds that the last Bitcoin rally was driven less by hype.

According to the study summary, Bitcoin search interest is
low relative to the increase in its price. Consequently, as Bitcoin price neared all time highs, the
digital assets Google search interest was at fifteen percent of its all time high. Another key takeaway from the study
is EAMS assertion that Bitcoin offers one of the most compelling risk reward profiles among assets in the
findings, AME's says, as our analysis suggests, it could scale from roughly five hundred billion dollars to one to
five trillion in network capitalization during the next five to 10 years. Consequently, EAMS says capital allocators
should consider the opportunity cost of ignoring Bitcoin as part of a new asset class.

In the meantime, the study suggests Bitcoin's apparent
acceptance could well set the stage for a theorem and a new wave of financial experimentation. Following the day, the Tesla co-founder, Elon Musk, out of
the Bitcoin hashtag to his Twitter profile, the popular Carolina Panthers defensive tackle Russell Okung told his
social media followers to put the Bitcoin hashtag in their bio as well. Okung has managed to get hundreds of people to
do it.

But more recently, the NFL players started a decent train
of celebrities with very large Twitter follower accounts to join the bandwagon to. Some weeks ago, Elon Musk put the Bitcoin hashtag in his
Twitter bio, and after he did that, the price of Bitcoin suddenly saw significant gains. Musk also tweeted, In retrospect, it was inevitable, and a
great number of crypto supporters celebrated the Tesla founder social media tiss after Musk did this on Twitter. Russell Okung told his Twitter followers to follow Musk
recent move. He tweeted, Everyone put hashtag Bitcoin in your bio, plant
the flag to declare you ready for the future. Send me a screenshot so I know it's real. The football player is also well known for recently telling
the world that he chose to take half of his 13 million dollar NFL salary and Bitcoin payments. He explained that getting paid in Bitcoin is the first step
of opting out of the corrupt, manipulated economy we all inhabit.

Furthermore, Okung managed to get a great number
of celebrity names to participate in the bitcoin hashtag Biotrue, and as well, he's also been tweeting about some of
the well-known celebs joining in on planting the Bitcoin hashtag flagon their Twitter bios. Some of the individuals included the spiritual guru, Sophia
Highet Westbrooke medius Brad Hodgin, Mr. Beest, the singer, Joy Villa, Reddit co-founder Alexis
Ohanian, SkyBridge Capital, Anthony Scaramucci and many more. Every one of the celebrities has well over one
hundred thousand Twitter followers or a whole lot more. They're being commended for doing this and are branded as
the builders of a decentralized future. Another interesting thing to happen with Bitcoin is that
some pro Bitcoin lawmakers are surfacing recently before the elections. There's been uncertainty about what experiences
with the new government will be like. But now it seems the future expectations are positive. A growing number of US lawmakers have recently spoken in
support of Bitcoin, among them as Congressman Patrick McHenry from the state of North Carolina.

On Friday, he talked to CNBC Squawk Box about how to
approach regulation after last week's market swings. He said, you can't put technology back in the box. Innovation is here. We have to embrace we have to broaden access to our
markets. We have to broaden access to our financial products. Now, that's some encouragement for the crypto world. McKenry has long been a Bitcoin advocate. Last week, when the lawyer of the self-proclaimed Satoshi
Nakamoto, Craig Wright, threatened to sue a few website owners for hosting the open source Bitcoin White Paper on
their websites, McKenry uploaded the document onto his official congressional website. He then tweeted, Policymakers should be on the side of
innovation and ingenuity, which are vital to American competitiveness. I hope others in the US government will
join me.

Hashtag Bitcoin and other pro Bitcoin US politician is
Miami Mayor Francis Suarez. He uploaded the Bitcoin white paper onto the Miami City
website following the Craig Wright lawsuit threat. Suarez said that the city of Miami believes in Bitcoin and
I'm working day and night to turn Miami into a hub for crypto innovation. Proud to say, Miami is the first
municipal government to host the Tosches White Paper on a government site. McKendree praised Suarez's efforts in
promoting bitcoin and innovation. He replied that he's impressed by what Suarez is doing in
Miami and that he hopes that more policymakers will join to support American innovation. Earlier this month, Suarez discussed putting some of
Miami's city's Treasury Reserves in Bitcoin and said he's working to allow payments of city services in the
cryptocurrency McKenry.

I said the bitcoin is unstoppable and governments should
not attempt to ban it. He also said that the world that Satoshi Nakamoto
envisioned and others are building is an unstoppable force during a hearing of the Committee on Financial Services on
July twenty nineteen. He added that we should not attempt to deter this
innovation and governments cannot stop this innovation. And those who have tried have already failed, ensuring that
he mentioned that due to the nature of the technology of Bitcoin, governments cannot kill it, nor should they. Last week, McKenry commented on Joe Biden's pick for the new
chairman of the US Securities and Exchange Commission, Gary Gensler.

He believes that the Mizzi block chain Prof's
receptiveness to new financial technologies and cryptocurrency is positive. The US Senate has also a vocal Bitcoin advocate. Senator Cynthia Lummis from Wyoming has vowed to help her
colleagues in Congress understand that Bitcoin is a great store of value. Currently, Bitcoin is trading around thirty
six thousand dollars and the week has seen it go up and down and tight ranges.

As a matter of fact, Bitcoin has
consistently remained above thirty thousand dollars since breaking above on 2nd of January. Twenty twenty one. Taurel analyst Simon Peters thinks that
with the support level now established, that it's time to see some upside. Let's look at the chart and see some
analysis. As you can see, this chart is very comprehensive, if you
look closely, the reaction to Elon Musk's tweet is even marked in this chart. This is a Bitcoin USD daily chart and
a pattern has been observed to be developing in the market patterns called the wedge pattern on this chart. Likewise, you can see some bullish action which preceded
the tweet and the upward reactions we can see on the chart as well.

The dotted line below the current price can serve
as a support line at around thirty three thousand. The current price itself is around thirty seven thousand
indicated by the red dotted line. The candle is a bearish candle and in this prediction, the
price is expected to make its way down to the support line and tested before it makes its way back up. There are two targets. One of the targets is around forty one thousand and the
other said a little above at forty five thousand. The wedge pattern is enclosed in a descending channel. In the next movement in the wedge is expected to be bearish
to a position that tests the support line to enter a position using this analysis a buy order as appropriate at
around the support which is set at thirty three thousand dollars, something we always advise on the channels that
people should always do their own independent and adequate analysis.

Bitcoin is highly volatile and the price may
change at any time. Even between recording this video and uploading it, it is
important to know when to enter a position or how to invest. A basic investment rule is to only invest money that won't
affect your upkeep or financial stability. Likewise, don't invest with funds from credit cards or
loans, only invest with money that you've set aside for investment. Thank you for watching this video. We hope you enjoyed it. And if you did kindly like this
video by giving it a thumbs up, also subscribe to our channel if you haven't already and let us know in the
comments what you think about this video and what you think is the next thing for Bitcoin. Good luck and happy investing. Bup bup, bup, bup, bup, bup, bup, bup, bup, bup, bup bup bup
bup bup bup bup bup bup bup..

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