The Bitcoin Bull Is BACK!

Bitcoin continues to explode in 2020 as physical money becomes obsolete.‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

SPONSORED “I Was Recently In A Private Meeting With Billionaire Elon Musk – Where I Uncovered The Market’s Next $260 Billion Growth Story” Our Chief Technology Analyst recently found himself in a room with billionaire Elon Musk... You’ll never guess what he uncovered. Click here for this shocking prediction. TECH INVESTING The End of Cash Is Triggering a Rally in Bitcoin Matthew Carr | Chief Trends Strategist | The Oxford Club I believe the end of cash is near. I know this is controversial. I know investors don't want to believe this. But the writing is on the wall. Personally, I think physical money has already died. If you're under a certain age, you don't carry it in your wallet or have it on you at all. We're moving into a completely digitized world. And each day, we see another brick in the wall come tumbling down. Now, I've always believed this was coming. But as I've stressed here before, the pandemic is simply accelerating this transition. And once Pandora's box is open, there's no going back... Just ask Blockbuster. Half Means More To kick off 2020, I made several bold predictions. Many of these came to fruition with varying degrees of accuracy. But there's one - that's already come true - that I believe is far from done. In our annual forecast issue of Strategic Trends Investor back in January, I stated, "I think Bitcoin, with a reward halving just months away, is going to be more explosive in 2020." Bitcoin's gains are already outpacing the broader markets' this year. But this could be just the beginning. Part of my bullish thesis for Bitcoin this year was the reward halving on May 11. A reward halving happens every four years. And it has sparked an explosive run in the cryptocurrency's price. As many of us are aware, there's a limited number of bitcoin (Bitcoin's units are called bitcoin). A mere 21 million. Now, in a watered-down nutshell... SPONSORED Expert Who Called Netflix at $6 Reveals Bold New Stock Prediction This obscure $7 tech stock has inked deals with Microsoft, Goldman Sachs and even the U.S. government. Its technology is protected by 128 patents. And it has a LONG history of quarterly revenue growth. It's expected to SKYROCKET in the months ahead. Get the scoop here...   Crypto miners use high-powered computers to add blocks of transaction data to the Bitcoin blockchain. Once a miner completes a new block - and provides proof of their work - they receive bitcoin as a reward. Originally, this reward was 50 bitcoin. Then it was halved to 25. Then it was halved to 12.5 bitcoin. And in May of this year, it was halved again to 6.25. This makes Bitcoin harder to mine and reduces new supply. Historically, Bitcoin prices have skyrocketed because of this. After the November 28, 2012, reward halving, Bitcoin shot up 8,357%! The cryptocurrency was trading at $12.27 at the time of the halving. One year later, on November 28, 2013, it was trading at $1,037.75. Because of this, I made sure to tell investors what would likely happen to Bitcoin when it halved in 2016... and sure enough, its price shot up nearly 3,000% from $600 to more than $19,000! That means, if history is our guide, the rest of 2020 - and even into 2021 - could be explosive for the cryptocurrency. For instance, if Bitcoin repeats the same halving cycle as it did in 2016, the cryptocurrency could top $340,000. Obviously, that's an extreme scenario. But beyond the reward halving, digital gold bugs have been blessed with a bevy of good new in 2020. 346 Million Potential Users PayPal (Nasdaq: PYPL) has had a partnership with Bitcoin for years. And now its peer-to-peer platform Venmo is going to start rolling out Bitcoin use. PayPal is also partnering with Paxos to allow cryptocurrency trading through Paxos' new brokerage service. This is an economy of scale here. Somewhere between 30 million and 35 million people own cryptocurrencies. PayPal now has 346 million active accounts. The number of people using its service has accelerated during the pandemic. And that's just the latest good news for Bitcoin. The Office of the Comptroller of the Currency released a statement allowing banks to begin holding cryptocurrencies for customers. And the Federal Reserve Bank of Boston is evaluating 30 different blockchain technologies to see whether it can support the digital dollar. All of this means... the Bitcoin bull is back! The cryptocurrency recently set a 52-week high of $12,359. And already in 2020, digital gold has rocketed 63.6% higher! Despite these big moves, we're still roughly 50% from the cryptocurrency's all-time highs. But that may be for only a little while longer. Bitcoin was range-bound between $9,000 and $10,000 for a couple of months. And I've been patiently waiting for a solid breakout above this level. Now that this breakout is under our belts, I believe there's potential for new highs on the horizon. We have a perfect storm of bullish news for Bitcoin. And we're still roughly 50% below those all-time highs. I'm not banking on a $340,000 price. But I'll be more than content with around $20,000 near this year's end. That's well within reason. Here's to high returns, Matthew Leave a Comment MORE FROM PROFIT TRENDS Why You Should Invest in Cybersecurity Stocks Three Major Events That Could Change the Stock Market and How to Play Them Is It Too Late for Big Oil's Green Transformation? Facebook Twitter Email Share SPONSORED Trump Celebrates 50,000 New American Jobs! A $10 billion deal... Donald Trump, America's No. 1 tech company and one $3 secret stock could send shockwaves across America... Story here. You are receiving this email because you subscribed to Profit Trends. Profit Trends is published by The Oxford Club. Questions? Check out our FAQs. Trying to reach us? Contact us here. 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