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BITCOIN PRICE WILL REACH $318K BY DECEMBER 2021 AS ‘THE NEW GOLD’, SAYS CITIBANK ANALYST!!

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➡️ REPLAY: “The Crypto Catch-Up” – http://teeka.cryptonewsalerts.net

Bitcoin is the new gold, said Thomas Fitzpatrick – a Managing Director in the giant multinational bank Citibank.

He also predicted that BTC could skyrocket to $318,000 per Bitcoin in the upcoming 13 months by exploring several historical price cycles and the ongoing economic uncertainties.

Fitzpatrick has spent 22 years as the Global Head of Citibank’s G10 Forex business arm called Citi FX Technicals. Apart from analyzing the foreign exchange market, though, he recently explored the performance of gold and Bitcoin as outlined by a popular cryptocurrency commentator.

The Managing Director at Citibank emphatically noted in the report that “Bitcoin is the new gold.” He highlighted BTC’s limited supply and digital form as two of its most distinctive features.

Bitcoin also “moves across borders easily and ownership is opaque.” That last point is “very relevant” as “the huge Fiscal deterioration of today has a cost in the future, either directly or indirectly.”

Additionally, Fitzpatrick weighed in on the argument of how would central bank digital currencies (CBDCs) impact the primary cryptocurrency and world economies:

“This is a double-edged sword. On one side, it [CBDC] creates a much more effective mechanism for distributing stimulus (particularly fiscal), but on the other side, it also makes capital confiscation easier (e.g., negative interest rates.) Both these scenarios would look to me to be positive

Bitcoin and in the 21st Century give us the digital equivalent (Bitcoin versus FIAT digital) of what we saw in the 20th Century when the financial regime changed (Gold versus FIAT paper).”

Apart from comparing BTC to gold, Fitzpatrick also examined Bitcoin’s historical price performances and provided a somewhat optimistic prediction, as the chart below demonstrates.

Fitzpatrick touched upon Bitcoin’s massive volatility and remarkable price developments during the last decade. He highlighted the two most significant market booms.

Those are BTC’s two-year-long rally from 2011 to 2013, where its price multiplied by “an incredible 555 times” and the latest major bull run that culminated in 2017’s all-time high of $20,000.

However, he also pointed out that a vicious bear market followed in both cases, which dropped BTC’s price by about 85%.

Fitzpatrick believes that Bitcoin is actually in a bull market now that started in December 2018 and could lead to groundbreaking price territories. As he noted that every new cycle is longer than the previous one, the current one could end in December 2021. This time horizon allows for BTC to explode in value and “move as high as $318,000.”

With Bitcoin’s price currently sitting at $16,000, such a 1,900% price surge sounds a bit far-fetched at the moment, to say the least.

However, it’s worth noting that Fitzpatrick’s model is not the only one that sees BTC reaching similar territory. The creator of the famous stock-to-flow model foresees $288,000 per coin by December 2021.

In other trending Bitcoin News today:

“Stocks Boom, Dollar Gloom: 5 Things To Watch In Bitcoin This Week”

Bitcoin (BTC) begins a new week with stocks rising and the U.S. dollar falling — all while trading back above $16,000. What’s next for price action?

1- Stocks near all-time highs while USD sinks

2- Bitcoin in 3rd highest weekly close

3- Institutions aren’t selling

4- Fundamentals trend upward

5- How much extreme greed is possible?

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Show Notes / News Resources:
– Citibank $318K BTC Prediction: https://bit.ly/36JlIAP
– Bitcoin Technical Analysis: https://bit.ly/336kmiH
– $28K Max Keiser Bitcoin Prediction: https://bit.ly/36K0iDL

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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  3. Litecoin price is gaining momentum above $75.00 against the US Dollar. The price is likely to continue higher above the $80.00 and $82.00 resistance levels. Just like Litecoin, bitcoin also is Surging and has been on a steady increase also.LTC is likely to continue higher towards the $80.00 and $82.00 resistance levels in the near term. Litecoin remained well bid and recently surpassed the $75.00 resistance zone against the US Dollar and the 100 simple moving average (4-hours). I trade daily with trade signals from Burwell Coleman and I have increased my portfolio from 2 btc to 9 btc in the space of seven weeks. I can attest to the accuracy of his trade signals and he can be reached through Wh@tspp (44 7723 022159) and Telrgram (burwellcoleman) for any trader looking to stay profitable. There's no better time to accumulate and stack up because soon enough the price of bitcoin will sky rocket to the moon, there are two approach to increasing your portfolio as an investor first is by buying little bits of crypto periodically (DCA) and the second which is a preferred and a better option is trading because it is less capital intensive and more profitable.

  4. Bitcoin is a rich man junk. Ir's energy wasteful old tech without an option to upgrade. Obsolete Hype.. Eather is evolving tech with a future and is going to replace Bitcoin in 2021 after major upgrades. Volume will shift towards Eather and Bitcoin will die out and go to zero pretty fast. Get Real.
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