$20,000 Won’t Pose Any Resistance for Bitcoin Price, Says Max Keiser

$20,000 Won’t Pose Any Resistance for Bitcoin Price, Says Max Keiser

The price of Bitcoin will surpass $28,000 as the previous all-time high won’t pose any resistance, and eventually shoot for six-figures, says Max Keiser.

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According to Heisenberg Capital founder and Keiser Report host Max Keiser, the price of Bitcoin (BTC) would soon rally to $28,000. He believes the all-time high of BTC at $20,000 likely won’t act as resistance.

Keiser, who is an early investor in unicorn Kraken and $100-million-worth Bitstamp, said:

“The $20,000 level for #Bitcoin won’t pose any resistance. We won’t see any resistance till $28,000. A brief pullback then the assault on $100,000 begins with renewed vigor.”

In the past 12 days, the price of Bitcoin has increased from $9,200 to $12,000, marking the highest price in over a year. The cryptocurrency market is benefiting from the strong momentum of Bitcoin and Ethereum’s Ether.

Keiser reaffirms his $100,000 Bitcoin prediction

Throughout the Bitcoin rally in the past month, Keiser has continuously reaffirmed his position on the medium-term trend of BTC. He expects BTC to eventually surpass $28,000, and shoot for a new all-time high at six figures.

In late July, when the price of Bitcoin first broke out of $11,000, Keiser said a six-figure BTC is likely. Since then, BTC has confirmed $10,400 as a key support level, maintaining its momentum. He said:

“$28,000 is in play before we see a pullback – and then we’re heading to 6-figures.”

But on Aug. 2, as Cointelegraph reported, Bitcoin saw its first major pullback since mid-June. The price of BTC fell abruptly from $12,000 to $10,500 within 15 minutes, causing $1 billion to get liquidated across the entire market.

The price of Bitcoin sees a sharp drop in a short period

The price of Bitcoin sees a sharp drop in a short period. Source: TradingView.com

Keiser and other high-profile appear to be unfazed by the move and generally consider the price action as a shakeout. Both over-leveraged and low-leverage long contracts were flushed out in less than an hour, causing the market to cool off.

Cryptocurrency trader Scott Melker said there were many bearish divergences prior to the drop occurred. After such a strong rally in a short period, the market seemingly needed to stabilize from an overheated rally. He said:

“A $1700 BTC hourly candle (mostly in a few minutes) on extremely high volume, including a similar sell-off on ETH in the middle of the night? Cool. There were bear divs everywhere, as I mentioned.”

Others see a differing trend for BTC, at least in the short-term

In the short term, some traders expect major cryptocurrencies, including Bitcoin and Ether, to demonstrate low volatility. Subsequent to a large price movement, BTC tends to establish a range and see a sideways action for several weeks.

Michael van de Poppe, a trader at the Amsterdam Stock Exchange, said altcoins could benefit from a potential BTC sideways action. He said:

“The most likely case is that we’ll have volatility on $BTC & $ETH as they determine their range. But over time (one week-two weeks) this will start to drop. What do you have to do? Yes, buy dips on altcoins. While everyone is focused on $BTC, your focus should be on alts.”

While the short-term predictions of traders vary, many investors are seemingly positive about the medium-term trend heading into 2021. Various macro factors, such as a declining U.S. dollar and rising liquidity, could further boost BTC’s current momentum.

PlanB, the well-known creator of the stock-to-flow (S2F) Bitcoin price model, also reaffirmed that BTC is on track to reach $100,000. He said following its explosive rally, BTC is “perfectly on track” to reach six figures.


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The price of Bitcoin will surpass $28,000 as the previous all-time high won’t pose any resistance, and eventually shoot for six-figures, says Max Keiser.

ECB Board Member: Global Stablecoins Pose Risks to a ‘Fragmented’ Europe

ECB Board Member: Global Stablecoins Pose Risks to a ‘Fragmented’ Europe

Global stablecoins could exacerbate existing risks to the “autonomy and resilience of European payments systems,” says the ECB’s Benoit Coeure

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European Central Bank (ECB) board member Benoit Coeure has warned that global stablecoins remain untested and raise potential risks across multiple policy domains.  

Coeure, a member of the ECB’s Executive Board, made his remarks at the Joint Conference of the ECB and National Bank of Belgium on Nov. 26, in a speech entitled „Crossing the chasm to the retail payments of tomorrow.“

Global stablecoins pose broad policy risks

Coeure’s speech was focused on the failure to establish a pan-European, market-led solution for digital retail payments. 

Notwithstanding progress with back-end initiatives like SEPA and the TARGET Instant Payment Settlement (TIPS) system, no pan-European solution has made equivalent progress in point-of-sale and online payments, he said. 

The EU is thus “at risk of losing its economic edge,” with national fragmentation paralyzing competition and stifling innovation on the pan-European level, in his view.

Twenty years after the introduction of the euro, this failure to harmonize cross-border payments services has spurred consumer interest in faster and cheaper alternatives and new ecosystems. Here he warned against the potential risks of Europe’s reliance on new global initiatives:

“Global stablecoin arrangements […] raise potential risks across a broad range of policy domains, such as legal certainty, investor protection, financial stability and compliance with anti-money laundering requirements. Public authorities have made clear that the bar will be set very high for these stablecoin initiatives to be allowed to operate.”

Couere continued to underscore that dependence on non-European global players generates a strategic risk to the “autonomy and resilience of European payments systems.”

Central banks should not stifle private sector

Coeure further noted that central banks will need to adapt their policies and instruments to respond to new consumer protection and monetary policy transmission challenges as emerging technologies reshape consumer payment behavior. 

He noted that the ECB is investigating whether central bank digital currencies could ensure that citizens “remain able to use central bank money even if cash is eventually no longer used,” but noted the need to remain mindful of their broader impact on financial intermediation.

Potential central bank-led initiatives, however, should not crowd out private-sector players seeking to develop fast and efficient retail payments in the euro area, Coeure stressed.

As Cointelegraph reported, Couere has consistently taken a circumspect line regarding global stablecoin payments systems, the discussion of which has intensified since Facebook unveiled its Libra project.

Libra has received a frosty response from multiple European lawmakers, including French finance minister Bruno Le Maire, who has warned that Libra should not be authorized on European soil as it would imperil the monetary sovereignty of states.


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Global stablecoins could exacerbate existing risks to the “autonomy and resilience of European payments systems,” says the ECB’s Benoit Coeure

Jamie Dimon Says Libra Does Not Pose a Threat in Short Term

Jamie Dimon Says Libra Does Not Pose a Threat in Short Term

Jamie Dimon says that he would not spend too much time on Libra as the coin does not pose a threat in the foreseeable future

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Jamie Dimon, CEO of global financial services firm JPMorgan Chase, argued that Facebook’s cryptocurrency project Libra does not pose a threat in the foreseeable future.

As reported by CNBC, Dimon delivered his comments during a conference call with analysts on Tuesday, July 16. Dimon said that he would not spend too much time on Libra, specifying that “to put it in perspective, we have been talking about blockchain for seven years and very little has happened. We are going to be talking about Libra three years from now.”

Dimon continued saying that any new effort will have to comply with the industry’s Anti-Money Laundering provisions. Dimon said:

“We don’t mind competition. The request is always going to be the same: We want a level playing field. And governments are going to insist that people who hold money or move money all live according to rules where they have the right controls in place; no-one wants to aid and abet terrorism or criminal activities.”

Dimon’s statements come on the heels of a press conference from United States Treasury Secretary Steven Mnuchin, who spoke about the use of cryptocurrency to finance illicit activity, and the role of regulations with respect to crypto-dealing organizations. Mnuchin said:

“Cryptocurrencies such as Bitcoin [BTC] have been exploited to support billions of dollars of illicit activity, like cybercrime, tax evasion, extortion, randomware, illicit drugs, human trafficking […] This is indeed a national security issue.”

JPMorgan itself is reportedly expecting to pilot its own digital token dubbed JPM Coin by the end of 2019. Umar Farooq, head of digital treasury services and blockchain at JPMorgan, stated that the bank’s stablecoin has the potential to enable instant delivery of bonds via blockchain.


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Jamie Dimon says that he would not spend too much time on Libra as the coin does not pose a threat in the foreseeable future