9/14 ANDY HOFFMAN (CryptoGoldCentral.com): Another EPIC Battle for Bitcoin $6,500 – That WILL Be Won By the Bulls!

For the fifth time this year, Bitcoin’s “Hoffman Line” held like a champ this week – i.e., a $100 billion market cap. This time, as investors, ICOs, and fearful Bitmain frontrunners capitulated on Ethereum, BCash, and other ICOs – on average, putting the altcoin markets’ cumulative losses since the January peak at 90%. Which, given the emerging DIGITAL AGE, seems like a reasonably exhausted decline for the sector’s “top tier.”

https://steemit.com/andyhoffman/@andyhoffman/9-08-andy-hoffman-cryptogoldcentral-com-vitalik-hype-is-dead-while-satoshi-hype-hasn-t-even-started

https://steemit.com/andyhoffman/@andyhoffman/9-09-andy-hoffman-cryptogoldcentral-com-the-hoffman-line-holds-again-this-time-with-altcoins-crashing-and-bitcoin-dominance

“Amazingly,” the “dead cat bounce” from Sunday and Tuesday’s lows in the mid-$6,100’s has been held up at $6,500; which it sits just below, after crashing from $6,600 last night to $6,400, and surging back higher.

https://steemit.com/andyhoffman/@andyhoffman/9-13-andy-hoffman-cryptogoldcentral-com-the-dumbest-ta-concept-from-the-dumbest-ta-gurus

Which I mock, given that $6,500 is the level the price was blatantly capped at for most of August – before the price surged to $7,400…

https://steemit.com/andyhoffman/@andyhoffman/8-24-andy-hoffman-cryptogoldcentral-com-bitcoin-buy-walls-on-bitfinex-depict-big-institutional-buyers-as-the-war-for-usd6-500

https://steemit.com/andyhoffman/@andyhoffman/8-27-andy-hoffman-cryptogoldcentral-com-new-bitfinex-buy-wall-emerges-as-the-battle-for-usd6-500-graduates-to-the-battle-for

…and subsequently, crashed $1,100 in one day – likely, because a Mt Gox whale with 111,000 BTC in his wallet had his account unfrozen after nearly five years, and moved 15,000 or so to an exchange.

https://steemit.com/andyhoffman/@andyhoffman/9-07-andy-hoffman-cryptogoldcentral-com-was-this-non-fundamental-issue-behind-tuesday-s-bitcoin-sell-off

Well, the battle is on again – as I highlighted earlier this week…

https://twitter.com/Andy_Hoffman_CG/status/1037999502085390337

…and again last night...

https://twitter.com/Andy_Hoffman_CG/status/1040368824434909184

Which, given Bitcoin’s inexorably brightening fundamentals; and repeated defenses of the Hoffman Line; make the odds of yet another spectacular victory likely. Last time around , “buy walls” were the “tell” that prices were ready to surge; and this time, in my view, the sudden disappearance of the large SPOOF offers on Bitfinex, that have tortured Bitcoin longs for months.

To that end, the list of potentially majorly bullish cryptocurrency catalysts is growing – as evidenced by Morgan Stanley’s entrance to the space yesterday. Not that we NEED Wall Street, but I assure you the “wall of institutional money” is coming – which Bitcoin’s repeated defenses of the Hoffman Line are shouting from the rooftops.

https://twitter.com/cryptomanran/status/1040494226709118976

https://twitter.com/alistairmilne/status/1040222654891012096

https://twitter.com/alistairmilne/status/1040224458034880512

Remember, the SEC’s decision on the SolidX/Van Eck Bitcoin ETF is due by September 30th - though they have the option to delay it one more time, to February 2019. Rumors are circulating that it will be approved, but I only give it a 20% chance of approval at the September deadline. If it is, we might see a run at $20,000 within months; and if not, I see little downside – as at this point, I don’t think ANYONE actually expects it to be approved.