But here is the only thing that can change his opinion (podcast)

But here is the only thing that can change his opinion (podcast)

The price of Bitcoin has been on an absolute roller coaster ride in the past few weeks and many are wondering whether we are still in a bull market, which will happen next and how you can position yourself correctly for the last quarter of the year.

In these turbulent times we sit down with prominent on-chain analysts Daniel Joe . We are talking about the current market situation as to whether we can assume that Bitcoin will soon reach $ 100,000, as well as some useful advice for those among them who have just entered the crazy world of cryptocurrency trading and investment.

https://www.youtube.com/watch?v=b3_php_-tw

Apple shares for Bitcoin sell

Daniel Joe has more than 10 years of experience in the markets. It started in the stock area and worked for a large number of companies, from small technology startups to medium-sized and large companies.

He is currently a technical on-chain analyst at Lightning Capital and the data intelligence company Cryptoquant. If his name appears well-known, it is because he is also responsible for The amazing bitcoin-price analysis Cryptopotato.

Joe announced that he started as a traditional value investor and relied on safe and proven principles. However, he also managed to catch the "tech growth wave" by investing in Apple, Tesla and Nvidia.

He heard from Bitcoin for the first time in 2014, but it was only later in 2017 that he dipped really deeper and it clicked. Interestingly, Joe recently sold a large part of the Apple share that he has been holding for years and invested in BTC.

"The reason why I sold Apple is that I have been waiting for the longest time that the Apple market estimates as a service company, because this would result in a P-much more of about 30-40 times, such as Google or Facebook. This year it was finally time.

Bitcoin is undervalued

The easiest way to understand the reasons for Joe's step is this - Bitcoin is undervalued. Now he is a technical and on-chain analyst, so we have concentrated on it-what is going on in the blockchain itself that supports this.

First, Joe takes a look at how long -term owners and miners behave during the various market cycles.

One of the reasons why I keep saying that we are not in a bearing is that the long -term owners and the miners who control most of the offer are accumulated.

he confirms that the recent negative price fluctuations are mainly due to the fact that new and short -term owners, also referred to as weak hands, are those who sell. He also attributes some of the recent declines to large liquidation events, but sees no serious reason to assume that we are not in a bull market.

And yet the analyst remains realistic and calls it a reason that could let him doubt Bitcoin. He said that there is only something new and better, but the chances for it are currently particularly low.

A look at the (bright) future

96,000 US dollars per BTC of this year-that is the best case scenario according to diels analysis . He also initiated this by saying that this could also happen "at some point in the first quarter of next year (i.e. 2021)". He believes that we are still in a bull market and also sets other destinations for the future.

Joes Bullisches Zahl is $ 178,000 to $ 190,000 in December, Q1 or Q2 next year. However, when things get wild, he also said that we could see BTC trading over $ 300,000.

The analyst made it clear that these goals are both time and state-based. There are many goals that Bitcoin has to conquer before we get to these numbers. It is also very important to monitor how the on-chain metrics change when achieving these goals.

Daniel also compared the current cycle with the 2013 and gave newcomers some very valuable advice, so be sure to watch the video and look at it to the end.

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