Joseph Young (@iamjjosephyoung) 's Twitter Profile
Joseph Young

@iamjjosephyoung

Analyst, focusing on finance, cryptocurrency. Currently comment to @forbescrypto @newsbtc @cryptoslate @cointelegraph

ID: 1336449979456626690

calendar_today08-12-2020 23:18:08

81 Tweet

28 Followers

285 Following

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Hi everyone. I only have two public accounts. Twitter: iamjosephyoung Instagram: iamjosephyoung All others are impersonators. Please report if you see one and please dont engage. Thank you all 🙏

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$19,400 is still a big resistance level for Bitcoin. Maybe it would range before breaking it. But the Bitcoin futures funding rate is back to 0.01% across the board. The derivatives market is not overheated and the market is more composed now than before.

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Bitcoin is nearing $20k! some might have lost money or made money during this bull run. but, please don't forget the long term and the significance of an all-time high. It means the entire industry will prosper even more in the next decade. many more opportunities will arise.

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Bitcoin is nearing $19k again, funding rate across major futures exchanges is at 0.01% (average/neutral). The futures market is not overheated as $BTC makes its second attempt at surpassing its all-time high.

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I think the longer bitcoin continues to reject $19500 and $20000 with whale-induced sell-offs, the probability of some more consolidation / correction increases in the near term.

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Michael Saylor and MicroStrategy will be forever remembered as legends that sparked the institutional frenzy around bitcoin in 2020

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Grayscale's Sonnenhein on Ethereum in a Bloomberg interview: “Over the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. There’s a growing conviction around Ethereum as an asset class.”

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High-net-worth investors increasingly considering bitcoin as a portfolio asset is the most important narrative in 2020 I feel, it opens bitcoin to a very broad group of investors.

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Bloomberg quoting Theresa Morrison, financial advisor at Beckett Collective: "She feels that as 'the native currency of the internet,' it may work well as an inflation hedge if clients hold small amounts, such as around 1% of their portfolio’s value."

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MicroStrategy raising $400m to buy more bitcoin in the future. Mixed feelings on this one. - MicroStrategy has incredible confidence in long-term price cycle of bitcoin - It's by 2025 and BTC has exponential growth potential - Will there be any regulatory pressure on this move?

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this has gotten me to think more about where bitcoin would be in 2025. this thought is scarily optimistic. how much % of gold's market cap would bitcoin consume? 10% of gold's market cap would value bitcoin at $42k, and that's not too crazy in my opinion.