Bitcoin News Alerts | Daily BTC Macro Signal

El Salvador, the first country in the world to make Bitcoin (the king crypto) a legal tender under the leadership of President Nayib Bukele, just took another significant step towards establishing itself as the leading BTC hub in the Americas. The country has enacted an unprecedented law, The Innovation and Technology Manufacturing Incentives Act, that exempts tech-related businesses from paying taxes.

This legislation, signed by the pro-Bitcoin millennial ruler, removes the burden of various taxes including capital gains, import tariffs, and taxes related to AI programming, software, and hardware manufacturing.

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Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a Bitcoin supercycle may be happening, noting that the king crypto is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, the BTC volatility is more likely to recover compared to commodities when Bitcoin "heads toward new highs."

Also Su Zhu, the co-founder of Three Arrows Capital, revealed an astronomical Bitcoin price prediction resulting from a BTC supercycle:

"I mean, I think there's an argument that gold itself is very undervalued. If it was the dominant store of value cause this thing was at like $1,700 years ago… and let's say gold should have 5X'd if there wasn't Bitcoin, then really we're looking at a $50 trillion market cap. So then you're already halfway there to $100 trillion and that will get you to $2.5 million per BTC and I think that that is definitely possible."

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MicroStrategy CEO and Bitcoin bull Michael Saylor believes a $5 million price tag is inevitable for the king crypto (BTC).

"I can see bitcoin going to a million. I can see it going to $5 million… because if it simply replaces all the indexes as a monetary index money, why shouldn't it go to $100 trillion in market cap or something?

In my life I've never seen something that was such a screaming signal. You've got a $200 to $300 trillion addressable market. You've got a problem – money is not sound. You've got engineered thermodynamically sound money. You've got a dominant network. Everybody's decided it's the network. It's exploding."

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Prominent Bitcoin supporter Max Keiser and Sr. BTC Advisor to President Bukele has taken to Crypto Twitter to comment on the recent collapse of First Republic Bank.

"The fiat money world is disintegrating as I predicted. It's all going to zero against Bitcoin. Every bank in America is technically insolvent. So is the Fed. And so is the government. America will soon be remembered as, "the building 7 of countries." Get some BTC ASAP."

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Popular crypto analyst and trader Kevin Svenson is expressing bullish sentiment on Bitcoin over the coming weeks.

Svenson tells his 71,000 YouTube subscribers that Bitcoin could go parabolic if it repeats a similar pattern seen months before the last BTC halvening.

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A popular crypto analyst thinks Bitcoin could be gearing up for a "parabolic advance" to a new all-time high top of $155,000 in Q2 2024.

According to the analyst, the CN10Y/DXY chart is now flashing a signal that has historically marked the beginning of fresh BTC bull runs.

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Controversial BitMEX co-founder Arthur Hayes continues to predict that Bitcoin will skyrocket to $1 million in price per BTC as a result of the crisis in the banking sector triggering macroeconomic turmoil.

The crypto billionaire tells his 376,600 Twitter followers that First Republic Bank won't likely be the last financial institution to collapse.

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Bitcoin advocate and Sr. BTC advisor to President Bukele, Max Keiser has slammed Pepe Coin (PEPE), the new meme coin sensation in the crypto community, referring to it as an "unregistered security."

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Bitcoin bull Michael Saylor, the founder of Microstrategy, who has predicted Bitcoin reaching $6 million for BTC has told people living in inflation-stricken Argentina that they now "Need Bitcoin." While many Bitcoiners have welcomed Saylor's suggestion, a few critics have said the top crypto asset's volatility makes it an unsuitable alternative for the faltering local currency.

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Entrepreneur Balaji Srinivasan explained the rationale for his bet that Bitcoin (BTC) could reach $1 million in price by June 17 as he spoke remotely by video link at CoinDesk's Consensus 2023 conference, which is being held in Austin, Texas.

Srinivasan, a former chief technology officer of crypto exchange Coinbase (COIN), is credited by many for predicting the effects of COVID earlier than most. In March, he predicted stupendously bullish prospects for the king crypto (bitcoin) in response to the devaluing of the U.S. dollar. He said the BTC price could reach $1 million in 90 days after March 17.

"Could it be that it takes 900 days or even 90 months? It's possible, I don't have a 100% probability on it," Srinivasan said on Friday.

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