After promoting Bitcoin merch discount, Mark Cuban praises BTC monetary policy

After promoting Bitcoin merch discount, Mark Cuban praises BTC monetary policy

During a Christmas rally that has pressed the Bitcoin all time high mark ever higher, a pair of current tweets indicate that a previous critic of the digital currency is continuing to take actions towards a full-blown hodler conversion: billionaire investor and owner of the Dallas Mavericks Mark Cuban. The Tweet came on December 23rd, when Cuban revealed that fans purchasing Mavericks gear would get a 25% discount rate when they used Bitcoin to make their purchase. Oddly enough, however, the report Cuban linked to rather said that purchasers who purchase more than $150 worth of equipment utilizing Bitcoin would get a $25 present card, and did not mention a 25% discount rate: Want to invest your $BTC somewhere … Spend it with the Mavs and get a 25 percent discount rate for utilizing Bitcoin! https://t.co/De7Y5f28s8— Mark Cuban (@mcuban) December 23, 2020
This present card offer, as well as a wider Mavericks policy of accepting Bitcoin as payment for tickets, strikes some observers as odd offered Cubans history of denigrating the asset. Previously in 2020 he cleaned off a zinger he first fired off in September of 2019: that he chooses bananas to Bitcoin as a product. Lots of have described coming around to Bitcoins virtues as a store-of-value as a procedure and not an occasion, nevertheless, and Cuban appears to be taking the requisite steps. In a Tweet just today, Cuban appeared to applaud Bitcoins programmatic monetary policy, stating that openly traded companies would be smart to restrict their share inflation: Public business must find out a lesson from BItcoin and commit to not release new shares of stock. Ever. Their stock costs would right away leap.– Mark Cuban (@mcuban) December 27, 2020
Its a positive comment thats part of an ongoing, years long about-face that has actually landed Cuban on Cointelegraphs list of Bitcoin critics who have actually withered in 2020. Still, hodlers need to be careful about fully welcoming another member into their ranks. As he advances in his journey towards hard money, Cuban has expressed ridicule for what he thinks to be “spiritual” zealotry among holders hoping for an end ofthe world scenario, and in yet another tweet today, its a theme he seemed to riff on, pretending to be among the faithful: Blasphemous I state, simply Blasphemous! https://t.co/Jk47KqY2x6— Mark Cuban (@mcuban) December 21, 2020Title: After promoting Bitcoin merch discount, Mark Cuban applauds BTC monetary policySourced From: cointelegraph.com/news/after-promoting-bitcoin-merch-discount-mark-cuban-praises-btc-monetary-policyPublished Date: Sun, 27 Dec 2020 20:25:52 +0000

After promoting Bitcoin merch discount, Mark Cuban praises BTC monetary policy

Bitcoin price crashes by 6.5% in minutes after hitting $28.4K sell wall

Bitcoin price crashes by 6.5% in minutes after hitting $28.4K sell wall

Bitcoin (BTC) hit all-time highs of $28,400 prior to crashing thousands of dollars on Dec. 27– the latest chapter in its Christmas trading frenzy.Cryptocurrency market overview. Source: Coin360BTC cost dips $1,900 in minutesData from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD gain and then lose big quantities in USD terms throughout trading on Sunday.After topping 15% 24-hour gains, Bitcoin experienced heavy selling pressure above $28,000. Source: TradingViewnalyst: “Bull run of bull runs has started” As Cointelegraph reported earlier in the day, Bitcoin set a number of records with its latest moves, including passing a $500 billion market cap for the very first time.In addition, Monday ought to see the biggest gap in Bitcoin futures markets ever created.This is gon na be the greatest CME gap in history pic.twitter.com/IWBsyQsXab— Saylor Moon Fan Club (@cryptoSqueeze) December 27, 2020
Because getting rid of $24,000 resistance, Bitcoin has traded in uncharted area with only unscripted sell levels creating fiction in what looks to be a progressively parabolic market.With institutional financiers taking a break, talk turned to retail buyers fuelling the most current phase of the Bitcoin bull run.” The bull cycle of bull cycles has begun, as a growing number of players are beginning to adopt towards Bitcoin and cryptocurrencies,” Cointelegraph Markets expert Michaël van de Poppe summarized to Twitter followers.Van de Poppe continued to eye $19,500 as a possible retracement zone, with altcoins in line to take advantage of Bitcoins example as soon as its own gains sluggish– potentially next month.Binance order book heatmap. Source: Material IndicatorsBinance order book data meanwhile reveals that a powerful sell wall at $30,000 will likely be the next significant hurdle for the BTC bulls. Title: Bitcoin rate crashes by 6.5% in minutes after striking $28.4 K sell wallSourced From: cointelegraph.com/news/bitcoin-price-crashes-by-6-5-in-minutes-after-hitting-28-4k-sell-wallPublished Date: Sun, 27 Dec 2020 12:34:16 +0000

Bitcoin price crashes by 6.5% in minutes after hitting $28.4K sell wall

Bitcoin price blasts past $27K — BTC market cap now over half a trillion dollars

Bitcoin price blasts past $27K — BTC market cap now over half a trillion dollars

Source: TradingviewBitcoin market cap breaches $500,000,000,000 The brand-new record-highs for Bitcoin come less than 3 days after breaking resistance at $24,000. Bitcoins market capitalization is likewise now over $510 billion, which puts it just under Warren Buffetts Berkshire Hathaway, the tenth-largest business in the world. Title: Bitcoin rate blasts past $27K– BTC market cap now over half a trillion dollarsSourced From: cointelegraph.com/news/bitcoin-price-blasts-past-27k-btc-market-cap-now-over-half-a-trillion-dollarsPublished Date: Sun, 27 Dec 2020 07:18:48 +0000

Bitcoin (BTC) continues its blistering vacation weekend rally, exceeding $27,000 on Dec. 27. Whats more, the market capitalization of Bitcoin has actually exceeded half a trillion dollars for the first time ever. BTC/USD hourly candle light chart (Bitstamp). Source: TradingviewBitcoin market cap breaches $500,000,000,000 The brand-new record-highs for Bitcoin come less than three days after breaking resistance at $24,000. This also means that BTC price has actually now folded the past two months after gaining almost $10,000 in the month of December alone. Bitcoins market capitalization is likewise now over $510 billion, which puts it just under Warren Buffetts Berkshire Hathaway, the tenth-largest business in the world. This comes less than a day after surpassing Visas market cap.As Cointelegraph reported, this weekends rise has actually put the cost of Bitcoin above the mean pattern line of the popular stock-to-flow design (around $24,900), which anticipates a $100,000 target by December 2021. At the same time, the present bull cycle appears to be different and more sustainable than in 2017 with numerous traders anticipating more upside over the coming months. The reasons for this consist of a craze of institutional buying, stronger fundamentals, less readily available supply on exchanges, and still reasonably little interest from retail buyers.Google look for “Bitcoin.” Source: Google TrendsHowever, this doesnt eliminate the possibility of significant pullbacks in the near term, particularly as BTC price seems steaming toward the next mental resistance at $30,000. ” Vertical moves typically end in a speedy correction (keep in mind Summer 19)? Those swift corrections are made for the facility of a sideways variety,” cautioned Cointelegraph Markets expert Michael van de Poppe on Dec. 27. He added: Dont get sliced out of a correction. The bull market will last for a longer duration. Have a longer horizon. Title: Bitcoin rate blasts past $27K– BTC market cap now over half a trillion dollarsSourced From: cointelegraph.com/news/bitcoin-price-blasts-past-27k-btc-market-cap-now-over-half-a-trillion-dollarsPublished Date: Sun, 27 Dec 2020 07:18:48 +0000

Bitcoin price blasts past $27K — BTC market cap now over half a trillion dollars

‘Blow-off top’ or $30,000? Traders muse Bitcoin’s end-of-year fate

‘Blow-off top’ or $30,000? Traders muse Bitcoin’s end-of-year fate

After a historic day in which the headlines could hardly keep up with price action and Bitcoin set a new all-time high above $26,500, traders and analysts are now turning their attention towards what could be in store for the digital currency over the next five days as 2020 comes to a close.

Historic candle

While a 8-9% daily gain might be pittance compared to Bitcoin’s historical volatility — there was a 42% rally as recently as 2019 — as Messari founder Ryan Selkis pointed out, today’s rally featured only the second $2,300 candle in the digital currency’s history:

Bitcoin’s first $2300 candle took 8.5 years.

It’s done that again today. pic.twitter.com/FfiCrG9OhX

— Ryan Bitcorn Selkis (@twobitidiot) December 26, 2020

Perhaps caught in the euphoria, some traders are already looking towards when daily candles eclipse five figures:

When will #Bitcoin have its first $10k daily candle?

— Luke.hodl (@Coinosphere) December 26, 2020

Clamoring for $30,000

Positive headwinds are swirling for Bitcoin’s next step. “Bitcoin” is currently trending on Twitter with 164,000 recent tweets — comfortably outstripping the next highest trending item, the archeological discovery of a street food stall in the ruins of Pompeii. 

Additionally, as Cointelegraph has previously reported, this recent rally has put Bitcoin back on the path plotted by the popular Stock to Flow (S2F) model, which forecasts a price of :

Another popular folk metric indicated that Bitcoin mania still has a long ways to climb towards 2017 peaks as well. According to Google analytics, search history for “Bitcoin” is barely at a fifth of all time high levels:

Google Trends data:

Searches for ‘buy #Bitcoin’ are around 1/5th of their all-time peak

Will searches eventually 10x the last peak? It has begun. pic.twitter.com/MUgRfPsvlD

— Alistair Milne (@alistairmilne) December 26, 2020

All together, the positive sentiment and parabolic price action have a greater and greater number of traders clamoring for ‘30k by the 30th” — a $30,000 price on the 30th of December:

Retweet for 30k #BTC by the 30th

— Stacking (@StackingUSD) December 26, 2020

Blow off top?

Despite the positive sentiment and price action that puts Cape Canaveral to shame, some traders are already lining up possible short positions. One trader is calling for a blow-off top in the next two weeks:

Update – Weekend blow off in full motion.

I suspect the hammer will come within the next 2 weeks pic.twitter.com/3xAirpOJrz

— Crypto Leo (@CryptoLeos) December 26, 2020

While it remains the minority sentiment, he’s not alone and thinking turbulence could be ahead for Bitcoin. $2.3 billion worth of Bitcoin futures expired on Christmas day, which historically has led to choppy markets. 

Title: ‘Blow-off top’ or $30,000? Traders muse Bitcoin’s end-of-year fate
Sourced From: cointelegraph.com/news/blow-off-top-or-30-000-traders-muse-bitcoin-s-end-of-year-fate
Published Date: Sat, 26 Dec 2020 23:40:07 +0000

‘Blow-off top’ or $30,000? Traders muse Bitcoin’s end-of-year fate

2020 special! New records, mega weirdness, the predictions that came true: Hodler’s Digest, Dec. 20–26

2020 special! New records, mega weirdness, the predictions that came true: Hodler’s Digest, Dec. 20–26

Title: 2020 special! New records, mega weirdness, the predictions that came true: Hodler’s Digest, Dec. 20–26
Sourced From: cointelegraph.com/magazine/2020/12/26/2020-special-records-weirdness-predictions-hodlers-20-26
Published Date: Sat, 26 Dec 2020 20:34:48 +0000

2020 special! New records, mega weirdness, the predictions that came true: Hodler’s Digest, Dec. 20–26