Strange things often happen in the crypto world: here are the most incredible episodes that happened during 2020!

Every self-respecting industry, group and clique has its weird characters, and cryptocurrencies are no exception.

Considering that cryptos are the so-called „native“ currency of the internet, the repository of the sum of human knowledge and eccentricities contained therein, the sector has always by Bitcoin Formula welcomed initiatives and personalities that are perhaps even stranger than the more established and traditional businesses.

Outside of the inherently bizarre nature of cryptography, 2020 has been a decidedly offbeat year. Existing socio-economic problems in countries around the world have been exacerbated by the emergence of the new coronavirus and the subsequent reactions of governments.

Bolivia and Kyrgyzstan were subject to political upheaval, while the US presidential election raised more doubts about the country’s future than certainties about a peaceful transition of power.

Kanye West’s fashion brand received $5 million in coronavirus aid that was meant for small businesses. Hackers hacked into calls on Zoom. For a brief period, Tiger King was an obsession. A group of out-of-tune celebrities sang „Imagine“ and it was absolutely horrible.

The list of weird and bad things goes on

The 2020 crypto world has been no exception, with its fair share of eccentric billionaires, foul-ups, power grabs and borderline attitudes. So as we say sayonara to 2020, let’s take a look at some of the industry’s strangest moments that happened this year.

Over the past year, there have been major strides in cryptocurrency adoption. Large financial companies have entered Bitcoin (BTC), with substantial allocations and investments from banks and mutual funds as well.

As cryptos are becoming an increasingly popular financial instrument, they have attracted the admiration and ire of those in the halls of power. Supporters have achieved regulatory approval, while suspicious politicians around the world have tried to suppress the phenomenon.

It should therefore come as no surprise that many well-known members of the community have tried to influence the formation of new legislation on digital currencies. Only a few, however, have tried to do so in their capacity as President of the United States of America.

American computer scientist and well-known eccentric John McAfee announced in 2018 that he was running for the White House as a ‚crypto candidate‘. However, things got even more interesting when he started running his campaign from abroad, as he supposedly escaped capture by US authorities, who were pursuing him due to tax issues:

„I have finally chosen my Libertarian campaign manager for 2020: @Loggiaonfire, Intelligence Coordinator of my 2016 race, had already been instrumental four years ago. Rob is a loyal friend, an appreciator of truth and a true warrior.“

I have finally chosen a campaign manager for my 2020 Libertarian Presidential run:

@Loggiaonfire – the Intelligence Co-ordinator for my 2016 POTUS run, was instrumental in placing me on the 2016 National Stage. Rob is a loyal friend, a seeker of truth, and a constant warrior. pic.twitter.com/LmV9l3uMQu
– John McAfee (@officialmcafee) October 3, 2018

McAfee has often stated that he only ran for president to raise awareness about cryptocurrency, and did not expect to win.

In May 2020, McAfee threw in the towel, instead running for vice president, as the Libertarian Party allows the vice president to run separately.

Brock Pierce, a former child actor and crypto venture capitalist, jumped into the presidential race relatively late in the summer of 2020.

Co-founder of Block.one, the organisation that created EOS, Pierce was featured on Last Week Tonight, a programme hosted by British comedian John Oliver, who poked fun at his eccentric spiritual vision for EOS and his unicorn-themed wedding, held during the legendary US festival Burning Man.

This prominent author reasons why Bitcoin will soon be heading toward the $50,000 range

American businessman and best-selling author of “Rich Dad Poor Dad,” Robert Kiyosaki, took to Twitter today to state that the oldest and leading cryptocurrency, Bitcoin as well as precious metals a Crypto Bank such as gold and silver, had a “bright future.” He also explained why he thought Bitcoin will soon be heading toward the $50,000 range in the next year.

According to Robert Kiyosaki, a “wall of institutional money” is coming to Bitcoin in 2021, which could cause another major surge in Bitcoin prices. Admitting that he owned an undisclosed amount of Bitcoin, Robert Kiyosaki said in a tweet:

Glad I bought Bitcoin. Next stop $50 k. Wall of institutional money coming 2021.

Besides investing in Bitcoin, Robert Kiyosaki operates other external business ventures and investments. He also founded the Rich Dad Company, a private financial education firm. He has invested in real estate as well as precious metals and has thought them to be stores of value.

If you missed Bitcoin, buy silver. Silver set to move due to AOC’s Green New Deal. America in trouble.

Future bright for gold, silver, Bitcoin, and entrepreneurs

Robert Kiyosaki further noted that users could invest in Bitcoin, while BTC prices were below $20,000, as $50,000 is the next target and said:

As Asian and US markets retreated this year, Bitcoin continued to rally, as one market analyst at Welt, Holger Zschaepitz, said:

Asian stock retreated w/European and US Futures after a mixed Wall St session, amid caution over econ risks from virus-related curbs and ongoing US fiscal stimulus talks. Bonds gain w/US 10y yields [are less than] 0.9%. Dollar steady w/Euro at $1.2153. Gold rises to $1839. Bitcoin at $19.1k.

Recently, American politician, Cynthia Lummis noted that Bitcoin was vital in the event when the US authorities begin printing more cash to overcome the pandemic-related crisis. Gemini’s co-founders, Winklevoss twins think Bitcoin will gain 25 times its current value as more global investors adopt the leading crypto especially as a hedge against inflation.

In a Bitcoin bull rally, you should not pay attention to alternative coins. This was stated by Andrei Veliky, Director of Business Development at paytomat.com during the online conference „Bitcoin 2020: New Horizons“ on YouTube channel ForkLog.

Buying altokoin only makes sense during the sideways movement of the first cryptovolta, he believes:

„If Bitcoin is walking in a corridor, then altokhoins make it possible to multiply the amount of bitcoin,“ the expert said.

The great defines the role of altokhoins categorically: they are needed so that their holder does not become rich.

„Alternative coins give big and fast icks. Bitcoin will not shoot 10 times a day. That’s why altocoins are needed for quick earning or for a quick loss of money – it’s lucky to have them here“.

Before investing in any coin, the expert advises to assess what is going on in her team. Bitcoin is as decentralised as possible, it has communities, developers, holders and miners, each of which has its own interests. And the less decentralised it is, the more problems it faces:

„I once got interested in a seemingly promising coin. However, at one of the crypt-currency conferences, I met a fundraiser for this project and it was stoned. I lost 99.99% of my investment on this coin,“ the Great shared the story.

Before investing in altocoin, the user has to figure out which exchange will add the coin to the listing and for what money, and what happens if the coin is drained.

„If the exchange goes down, it’s a big bargaining chip in favour of Bitcoin, you won’t go out with altskoins. The alts won’t grow back and could be rolled to zero, Bitcoin is not likely to do so,“ says the Great.

According to the expert, alto coins are needed because from time to time they bring in new technologies and come up with consensus algorithms. Each of them has its own vector of industry development, which can potentially be used by the bitcoin development team:

„That’s why we have alts in cryptographic software so that the bitcoin doesn’t take a nap“.

Andrei the Great advises beginners not to pry into margin trading and the obvious benches and not to buy coins that are not in the top CoinMarketCap:

„Invest in altocoins dosed against the total portfolio. If you see the alto team as living adequate people who can tell you about their business model, that is an absolute plus.

Earlier, independent analyst Maxim Onegin stated that walking through all the forks of the bitcoin would counter the threat of a quantum computer.

Translated with www.DeepL.com/Translator (free version)

Bitcoin’s uninterrupted rally has increased the likelihood of a major pullback, according to independent analyst Vince Prince.

The TradingView.com author writes that there is a 35 percent probability that the Bitcoin price will fall soon. He cites a textbook technical indicator that predicts downward reversal patterns.

The pattern known as „head and shoulder“ appears during the upward trend of an asset. Traders confirm it when they see three highs forming on a support-like baseline.

The middle peak is higher than the other two, making it look like a head hanging over two shoulders on each side – hence „Head and Shoulder“.

The H&S patterns typically end in a breakout below the baseline, with a downward target well below the maximum height of the structure. Prince comments that Bitcoin hero forms a similar technical structure, with the left shoulder and head fully confirmed and the right shoulder partially fixed.

„Bitcoin is already being traded in overbought zones,“ he adds. „This does not mean that it can move higher and create new highs. However, the bearish perspective should not be underestimated in any case. Bitcoin is moving into zones where a quick reversal and change of direction can more easily establish itself“.

If the H&S pattern is valid, there is a risk that Bitcoin will be about $1,600 below its baseline (the level between the peak and the support). The yellow area in the graph above shows the ideal target area for the H&S breakout.

What risks Bitcoin is exposed to

Prince’s bearish outlook for Bitcoin received involuntary support from the crypto-currency futures market. According to Glassnode, the average „funding rate“ across all Bitcoin exchanges has risen to levels indicating that traders may have been over-leveraged through open-ended contracts.

Measured every eight hours, the funding rate indicates the cost of holding a bullish contract, i.e. a long position. A positive value indicates that bulls pay bears.

This increases the value of the perpetual contract above the spot price of Bitcoin. Therefore, a very high refinancing rate signals that the leverage is unduly distorted in favour of bulls. This is an overbought situation.

An event of a pullback in the spot market can lead to massive long liquidations, which may result in more price declines and higher volatility.

The optimistic outlook

However, Prince also believes in a limited corrective downward trend. He writes that Bitcoin could find support at the H&S neckline to rise higher again – and this could invalidate the whole trend reversal theory altogether.

The conclusion of Vince:

„Since Bitcoin still has solid supports [near] the 65-EMA and the blue horizontal support, the bullish breakout has a higher probability of 65%“.

Bitcoin sees its upward outlook at over $19,000.

Bitcoin has seen a sharp rebound in institutional interest in recent months.

The coin is currently trading just short of an all-time high of $ 19,500. BTC is expected to rise even higher as the prevalence continues to expand.

Paul Tudor Jones has now publicly blessed Bitcoin again.

Jones believes that BTC’s market cap is undervalued compared to other asset classes.

Paul Tudor Jones speaks out in favor of Bitcoin again

Bitcoin has seen a sharp rebound in institutional interest in recent months. The coin is currently trading just short of an all-time high of $ 19,500. BTC is expected to rise even higher as the prevalence continues to expand.

Paul Tudor Jones, a billion dollar Wall Street investor, could accelerate the adaptation even further – because he continues to speak out in public for Bitcoin .

The famous investor considers Bitcoin to be an extremely profitable investment in this world of macroeconomic inflation. Bitcoin will be the „fastest horse in the race“ when it comes to large asset classes such as stocks, commodities and bonds.

Now he has again emphasized his support for Bitcoin and stated in an interview that the market capitalization of the coin is severely undervalued when looking at macroeconomic trends:

„With a market cap of $ 500 billion, it’s the wrong market cap in a world with $ 90 trillion in equity and who knows how many trillion fiat currency … it’s the wrong price for the opportunities it has.“

Tudor Jones also believes that investing in Bitcoin is like investing in Google or Apple at the beginning of their life. He also compares the current Bitcoin space with the technology space in the 1990s and early 2000s.

Additional support from Wall Street

Tudor Jones‘ positive comments about Bitcoin follow increased engagement from Wall Street investors.

Stanley Printmiller, one of Tudor Jones‘ competitors and another multi-billion dollar financier, told CNBC a few weeks ago:

“Bitcoin could be an asset class that is very attractive as a store of value to both millennials and West Coast new money, and as you know, they have a lot of them. It’s been around for 13 years, and every day it’s becoming more stable as a brand. „

Many think Wall Street interest will drive Bitcoin well beyond current prices, into the $ 100,000 region and beyond.

For example, Raoul Pal of Real Vision believes that the cryptocurrency could reach $ 500,000 in the coming years due to this institutional support alone.

Ponura perspektywa dolara opuszcza Bitcoin z potencjałem do dalszego biegu byka w kierunku 20.000 dolarów.

Sprzedaż greenbacku przyspieszyła w tym tygodniu, ponieważ jego wartość w stosunku do walut obcych spadła o kolejne 0,21% w handlu nocnym. Indeks dolara amerykańskiego (DXY) osiągnął w czwartek poziom 90,22, najniższy od kwietnia 2018 roku, co skłoniło Morgan Stanley do prognozowania dalszych spadków dla tego ważonego handlowo instrumentu.

Stwierdzenia te pojawiły się, gdy Bitcoin Era nadal wieżował w pobliżu niedawno ustanowionego, wszechobecnego haju 19.915 dolarów. Przyniosło to wzrost zysków o 179 procent od tego wtorku. Kurs wymiany BTC/USD wzrósł o 5,61 procent w stosunku do tygodniowego okresu, co jest całkowitym przeciwieństwem tego, co robił indeks dolara amerykańskiego.

Mark Wilson, dyrektor inwestycyjny i główny strateg ds. kapitału w Morgan Stanley, powiedział Bloombergowi, że w ciągu najbliższych dwunastu miesięcy dolar spadnie o kolejne 10 procent. Analityk zauważył, że Rezerwa Federalna i rząd USA są „najbardziej agresywne z deficytami strukturalnymi“ w obliczu pandemii koronaawirusów.

„Słabszy dolar jest pomocny dla świata“, dodał. „Silniejszy jest bardziej zwężeniem globalnego wzrostu… To w końcu pozytywna historia dla reflacji.“

Analitycy z JP Morgan & Chase Co. również wierzyli w niedźwiedzią dolarową perspektywę na rok 2021. Julio Calegari, wiodący zarządzający portfelem w Azji i na rynku Forex, powiedział, że pandemiczny wzrost Chin zmniejszył atrakcyjność inwestycyjną Greenback.

Bitcoin utrzymuje kluczowe poziomy wsparcia blisko 19.000 dolarów, pomimo ostatniej sprzedaży.

Zarówno BTC/USD, jak i DXY wykazały w tym roku odwrotną korelację, szczególnie po kursie z połowy marca na rynku globalnym. W tym miesiącu cena Bitcoina spadła o prawie 60 procent w ciągu zaledwie dwóch dni. Z drugiej strony, dolar pokazał siłę i przeskoczył o 8 procent w tym samym okresie.

Przeciwnie, ponieważ inwestorzy szukali bezpieczeństwa gotówki przed niepewną perspektywą ekonomiczną prowadzoną przez szybko rozprzestrzeniającą się pandemię COVID-19. Gdy rządy ogłosiły blokady, rynek akcji uległ załamaniu. Doprowadziło to do rozładowania swoich dochodowych pozycji w innych miejscach, aby pozyskać dolary.

Niemniej jednak interwencja na dużą skalę Rezerwy Federalnej i rządu USA złagodziła popyt na gotówkę. Wspólnie zobowiązali się oni do zasilenia w płynność kwotą około 3 bilionów dolarów poprzez nieograniczony zakup obligacji i podjęcie decyzji o zwiększeniu deficytu fiskalnego. W rezultacie dolar spadł, a Bitcoin – dzięki swojej narracji safe-haven – wzrósł.

Dynamika nie zmieniła się w roku 2021. Gospodarka amerykańska przeżywa gwałtowny wzrost wskaźnika zakażeń COVID-19. W międzyczasie dwustronny projekt ustawy przewiduje wstrzyknięcie do amerykańskiej gospodarki ok. 908 mld USD, pogłębiając tym samym deficyt.

W ostatnich minutach Rezerwa Federalna potwierdziła, że w warunkach niższych stóp procentowych utrzyma tempo zakupu obligacji w nienaruszonym stanie. W międzyczasie inwestorzy zwiększyli swoje zakłady, że bank zacznie teraz kupować dłuższe obligacje amerykańskiego Skarbu, ponieważ rentowności krótkoterminowych obligacji są już blisko zera.

Ogólnie rzecz biorąc, scenariusz ten sprawia, że Bitcoin jest silniejszą alternatywą inwestycyjną dla dolara amerykańskiego i obligacji. To wyjaśnia, dlaczego krypto waluta może wybuchnąć powyżej 20.000 dolarów w najbliższych sesjach kwartalnych.