Popular TV host and long-time Bitcoin proponent Max Keiser believes that futures traders suppress Bitcoin’s price at current levels. However, once the asset explodes to Keiser’s intermediate target at $28,000, BTC’s amount for sale will evaporate as governments and institutions will purchase directly from miners.
Keiser: Governments And Institutions Will Rush To Buy BTC
Keiser recently tweeted that “the (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000.”
CryptoPotato reached out to the popular TV host to elaborate on his views regarding the price suppression and potential surge in value. Keiser asserted that “for the world’s poor, the current price and availability of BTC are a once in a species-existent opportunity to acquire unconfiscatable Hard Money before a 40-80x move on the upside.”
He commented that his “forensic analysis of the BTC market, corroborated by insiders, is indicating futures traders are suppressing the price of BTC to give institutional players a chance to load the boat.” He also gave his intermediate price target of $28,000 per coin. Once the cryptocurrency reaches that level, it would be a significant game-changer for people’s perception of the asset.
“When this happens, we’ll see something quite unexpected. The retail market for BTC will dry up. The amount of BTC for sale AT ANY PRICE will be increasingly tiny.
Institutions, corporations, and governments will be buying BTC directly from miners, presumably at a huge premium.”
People Like Warren Buffett Will Suffer
Keiser, who previously said that Warren Buffet will start panic buying Bitcoin when the asset price jumps to $50,000, said that people like the prominent investor, who have no Bitcoin exposure, will see “their wealth hyperinflate to nothing.”
It’s no secret for the community that Buffett isn’t a fan of the primary cryptocurrency.. He once called Bitcoin “rat poison,” and even a charity launch with TRON’s Justin Sun couldn’t change his mind. Shortly after the event, Buffett insisted that BTC has no value “and never will.”
However, Buffett recently purchased a massive share in a mining company producing gold while reducing his exposure in significant banks such as JPMorgan Chase & Co and Wells Fargo & Co.
Keiser believes that those who had taken a similar path and purchased gold and silver will be less impacted. Nevertheless, even gold holders “will see their wealth take a relative nosedive against investors that are 100% BTC.”
Featured Image Courtesy of RT
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Crypto.com OnBoards Filomena Ruffa as GM of Latin America
Filomena Ruffa brings strong relationships and wide experience in the LATAM region to Crypto.com.
Crypto.com announced on Wednesday that it has onboarded Filomena Ruffa as General Manager of Latin America.
In a recent press release, Crypto.com, a digital asset financial service provider, announced that it has recruited Filomena Ruffa to fulfil the role of General Manager for Latin America.
Ruffa brings strong relationships and wide experience in the LATAM region to Crypto.com. She will head all its operations, drive strategic business relationships and prepare for the coming rollout of its Visa card in the region.
Prior to the recent appointment, Filomena served as the Innovation and Strategic Partnerships Consultant to Payments | FinTech | Financial Services in Miami for three years. There she advocated early startups on their Strategic Offerings, Go To Market strategies and assisted in developing alliances and partnerships.
Earlier on, she held the role of Vice President of Innovation and Strategic Partnerships LAC at Visa and was located in Miami for two years. She led a path towards innovation and collaboration between partners, clients and fintech companies from across the LAC region.
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Additionally, at Cardinal Commerce, she took on the role of General Manager for the LAC Region. She successfully held this post for almost four years. Moreover, from the beginning of 2009 until late 2011 she was at SafetyPay – USA fulfilling the role of Vice President of Strategic Partnerships and Alliances.
Back in 2003, she joined the ranks of Boxkite Systems Technologies as their Executive Vice President and was productive there for almost six years. Before this, Ruffa was employed by Biometrics Imagineering Inc. as Chief Operating Officer.
Ruffa Joins Crypto.com to Drive Expansion to Robust LATAM Market
Ruffa, who helped banks and merchants adopt disruptive solutions to onboard new consumers, joins at an auspicious time as Crypto.com has expanded its portfolio and entered new markets. This appointment coincides with Crypto’s.com’s recently released Portuguese and Spanish versions of its App and Exchange. Not forgetting its recent rapid growth now reaching more than five million users. Notably, the LATAM region is a crucial market that has limited access to financial services in many countries.
Kris Marszalek, CEO of Crypto.com said: “Filomena’s extensive experience working in the Latin American payments market is a valuable asset to the Crypto.com team as we continue our expansion into this important region. With over half a billion people and a robust crypto ecosystem, LATAM has huge potential.”
Ruffa said: “I am honored and thrilled to lead the Crypto.com expansion into Latin America. Crypto.com is on a mission to accelerate the world’s transition to cryptocurrency and I can’t wait to start building Crypto.com strategic presence in the Latin America Region and work alongside the team and our partners.”
Avanti named second crypto bank in America
Avanti has gained approval to debut a crypto bank in Wyoming. This becomes the second crypto-friendly banking institution in the US. The concept of the crypto bank is gradually gaining ground in the United States, particularly in the state of Wyoming. Recently, the leading digital currency exchange Kraken was approved by the state’s authorities to […]
- Avanti has gained approval to debut a crypto bank in Wyoming.
- This becomes the second crypto-friendly banking institution in the US.
The concept of the crypto bank is gradually gaining ground in the United States, particularly in the state of Wyoming. Recently, the leading digital currency exchange Kraken was approved by the state’s authorities to establish a crypto-friendly financial institution. Today, Avanti Financial has equally gained approval from the authorities to launch the second bank.
Avanti becomes US second crypto bank
According to recent information, the Wyoming State Banking Board greenlighted the company to establish its crypto bank in the state without any objection. Avanti gained the bank charter approval from the board after an 8-0 supporting vote. Following the crypto bank, Avanti intends to provide several digital currency-related services, including online banking and assets custody services.
Additionally, the crypto bank will provide a stablecoin dubbed AVIT. The token will be pegged equally with the United States dollar. Avanti claimed that its AVIT token is a “stablecoin disruptor,” adding that it will address certain regulatory issues with other stablecoins that pertain to accounting, taxation, and regulation. The AVIT stablecoin will be launched on Bitcoin’s Liquid sidechain, Ethereum, and other blockchains.
More path to adoption
By launching a crypto bank, Avanti is planning to bridge the huge gap between digital assets and traditional financial systems. According to the CEO of Avanti, Caitlin Long, the banking institution will debut with an adequate standard of custody for assets. More so, the bank is positioned to launch unique crypto-related products and services, which aren’t available in the market.
This is a welcomed development for the crypto industry, as the United States gains its second crypto-friendly financial institution. This came after Avanti raised about $5 million from angel investors to spearhead the initiative. Meanwhile, Kraken was the first entity to gain approval to launch a bank in Wyoming state, US.
Bitcoin price prediction: BTC coming out of H&S after $13000
Bitcoin price prediction reveals that BTC hit the H&S low. BTC is now coming out of head and shoulder movement after hitting $13000 low. BTC price is now likely to move towards the $14000 mark. The king of cryptocurrency has just completed a head and shoulder (H&S) formation on the charts. The H&S formation took […]
- Bitcoin price prediction reveals that BTC hit the H&S low.
- BTC is now coming out of head and shoulder movement after hitting $13000 low.
- BTC price is now likely to move towards the $14000 mark.
The king of cryptocurrency has just completed a head and shoulder (H&S) formation on the charts. The H&S formation took the cryptocurrency price to the $1297 low at one point.
The H&S pattern started forming on the 26th of October and by day end on 27th the pattern had primed. As expected the cryptocurrency managed to stay afloat for a few hours before declining and currently stands at the $13100 mark.
Bitcoin price prediction: Where is BTC headed?
In the past 24-hours Bitcoin price has been hovering around the $13300 and $13000 marks. However, Bitcoin price prediction by cryptocurrency analyst Margin Buu explains that the king is now going to go through a retesting phase.
The analyst explains that the king is in a relatively weaker position than the previous week. The weak altcoin market demand is also affecting Bitcoin’s position in the market. The king was unable to hold the $13200 support and is now retesting the $12900 support levels to break through to the previous mark. If the king manages to hold above $13200 for 24-hours a bearish momentum is likely to build.
Trading view analyst Wyckoff mode explains in his 2-day Bitcoin price prediction that the king of cryptocurrency is treading on slippery slops. If the king manages to hold ground above $13000 it is likely to make it back into a bullish momentum.
Mode further that the price action to likely to remain the same until the Green Line falls in the 2-Day to make contact with the Red RSI. That may not occur until the NEXT 2-Day Candle. Then the next 2-Day candle after that (October 31, 2020) we could see a chance for a drop to the Yellow B-Band Basis in the 2-Day but at least to the White upper B-Band the 2-Day, towards a bullish momentum.
US elections affecting Bitcoin price?
Given the current situation in the United States, analyst Pixi believes that the king is likely to drop down to the $8000 mark, and if it loses support, further below to the $5000 range. However, the Bitcoin price predictions seems a little far fetched since none of the other analyst are reporting such a possibility.
Analyst Thisma explains that the king cryptocurrency is shaky at the moment and is likely to drop back towards the $12800 mark. But given that the Trading View technical indicators are pointing towards a buy signal, BTC is likely to hold ground.
The US election is due on the 3rd of November, and the market is expected to slow down in the coming week by a good margin. The good news is that the crypto fear and greed index is also presenting a good greed score of 67 and Bitcoin has enough margin to stabilize between now and election day. Cautious trading is advised as always.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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