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Monday, October 3, 2022

Can Bitcoin get to $100K ?

$100 Thousand dollars per BITCOIN. It was a meme, a joke that was thrown around in the early days. No one really thought it was possible. But the future is a funny thing. Since BTC has surged past its old all-time high of $20k, that number doesn’t seem so far out of reach.

People are talking about 100k like it is going to happen. So will it? Well, find out in about 10 minutes, because of its time for Chico Crypto! So, I’ve been around Bitcoin and the crypto markets in some form since late 2013, my first purchase of BTC was around $200 dollars & after that 1st purchase, I saw it rocket up to $1200 dollars in the matter of a few months.

I got involved at the perfect time during the 2013 parabolia, it was crazy euphoric, and it made me realize BTC can do some very unthinkable things, price-wise very quickly but I also held, all the way back down to nearly where I bought and went through that brutal bear market where the price looked dead in the water So I also understood early, it can do the complete opposite too. Then 2017 and its following bear market came and did the exact same thing!!! More than reinforcing my views.

Which means this is my second 4-year cycle from just 200 bucks, I’ve seen Bitcoin parabola to 1.2k, fall back to 200, reclaim that high of 1.2k. Reach new parabolic high of 20k, fall all the way down to 3k and then once again reclaim its old all-time high of 20k.

All within the span of just 7 years. That’s a lifetime of market movements in any other asset class, but for BTC it happens in just 7 years but ever since the big break of 20k, things are showing signs of paranoia. In just 11 days since, BTC has surged, breaking 27k to the upper levels and even breaking 28k on some exchanges.

The higher the price goes, the less significant these movements look on the surface, but if you do the math, from 20k to 28k is a 40 percent increase since December 16th the day of the break. That is significant, you break it down, that’s nearly a 4 percent price increase per DAY. If BITCOIN Kept that rate up for all of 2020, that would put BITCOINs peak at over 300 thousand dollars by the end of 2021.

But even I don’t think that will happen. Although, that 100k mark, yes I do think it can happen in the next parabolic run, or I wouldn’t have made video after video with that number as the headline for the past 2.5 years. I’ve been saying around $100k would be this cycle’s peak for the longest time, so don’t you other tubers try and take that away from me.

So, if it does happen when will it happen? Is 2021 the year of smashing 10k level after 10k level on the way up to 100k? Well, we have to break 30k, then We have (7) more 10k levels to break in just 12 months. That means every 1 month and 3 weeks, BTC needs to move on average by 10 thousand dollars. Can be more some months, it can be less it just needs to average to 10.

Which is very significant price movements in the scope of things. Looking at the all-time price chart, we can see it took nearly 9 years for bitcoin to claim its first 10k, from 0 to 10 but then to claim the next 10k, from 10 to 20, it took only 6 months to reach it, but officially cross it, it really took about 3 years. So based on this pattern, 9 years to claim the first 10k level, 3 years to reclaim the second, the third 10k level, 30k, would take off 3 years, 1 year to be officially breached.

Which would mean, 30k will be broken in December 2021?? Well, we are super close to that already so I would throw that pattern right out the door. But with those price movements, the pattern of the price moving on average of 10k, every month and 3 weeks looks more realistic so if happens when & how? Well, there are some significant events throughout 2021, which could help the price on that path. one I’ve been covering for some time, shrouded in what I call controversy. The Coinbase IPO.

So since I’ve been covering it when do I expect it to happen!? Well, if you haven’t noticed. Things are getting prepared for it. December 17th, Coinbase officially files for the IPO, December 23rd, Jay Clayton announces his resignation as Chairman of the SEC.

You want to know what happened the day before this!? A person just below JAY at the SEC, a commissioner Elad Roisman, put out this post Statement on NYSE Primary Direct Listing Proposal and in it, he was fully supporting the NYSE’s rule change, for direct listing IPOs. Elad said While many aspects of our equity markets have long benefited from innovation, innovation has managed to elude, to any significant extent, the primary offering process. Until today.

NYSE’s proposal would provide an alternative means for companies listed on their exchange to raise equity capital in our public markets. I support the approval of the exchanges proposed rule change Well guess who was announced as taking over Chairman for Jay Clayton, the one who fully supports what the NYSE is doing, Elad Roisman.

If you didn’t know, Coinbase is rumoured to be the first to take this route with the new rule change, and NYSE has been testing just a few short months ago, with big traders of the exchange. And NYSE is an early investor in the ole coinage. So if you didn’t know, As Ron Paul would say.

It’s happening! Which if you look deep into Law Schools even own blogs on the topic posted just 5 days ago, they know it’s happening too. The COLUMBIA LAW SCHOOL’S BLOG ON CORPORATIONS AND THE CAPITAL MARKETS gave their low down, and at the end, they said this Primary direct listing might appeal to unicorns, which have long track records of being able to raise large sums of capital from private markets.

Such listings can provide liquidity to employees and early investors, and as we can see above they call unicorns-startups valued at over 1 billion dollars. Coinbase is king Unicorn, as the startup, the last time the did funding round in 2018 was valued at 8 billion dollars.

Over 2 years have passed, so what’s it worth today, PRE IPO? Well, Messari research, put out a model and explanation and valued coinage PRE-IPO and post-IPO filing, at 28 billion dollars.

Those are just predictive figures for today, and nothing set in stone, coinage based on funding rounds, is worth 8 billion today but those predictive figures from Messari show how hyped this one will be, and when the IPO goes live on the NYSE, a 100 billion dollar valuation or more??

Not out of the realm of possibility So when Tyler when is the IPO? Well, in my opinion, Coinbase and those involved will try to time the crypto markets & looking back at the last hype cycle year, in 2017 there were 4 pretty significant pumps throughout the year, one in December 2016 through January 2017 kind of like today.

Then in March of 2017, then in the summer of 2017, and finally parabolia at the end of the year. Coinbase isn’t going to wait till the end of the year, so its gotta be either sometime around March or in the Summer.

Now I don’t know if a business insider has some information we don’t have, but they said this Following speculation from a few months ago, the US-based crypto giant has filed to go public early next year, per its blog post Not Mid, but early so methinks, it’s coming around March 2021. That’s in just 3 short months. but at that time, we have so many things that can happen.

So I predict, a short selloff in January for BTC, but it will not belong, and BTC will suddenly start to rebound, crossing 30k late January, and then in February we get the news, the official date of the Coinbase IPO, it’s in March thus 40k is breached this month, and then up to 50k possibly past it near 60k, depending on what the share price of Coinbase is doing.

Well, in my opinion, it’s going to be doing wild things, because of the IPO direct process listing, early investors, they don’t have lockups, nor do the employees who hold shares. It’s going to be wild, it’s going to be HOT.

But because of this, we are going to have a big correction as will the COIN shares in the first week or two of trading. March and into April are going to be intense if things play out like they are looking.

Down to 40k, or even the high 30ks. So if things play out like I predict, after the Coinbase IPO hype, we will have 8 months to go from 40k to 100k. Will this happen? Well, one thing will be for certain. For the first time, there will officially be a piece of crypt within wall st.

Will Coinbase shares follow the Bitcoin price, or will Bitcoin follow the price, which officially means BTC is following the stock market. If that is True Will St. pump it to 100k by December 2021? I think so. Cheers Ill see you next time!.

Read More: Earn Free Cryptocurrency Bitcoin, Ethereum, Litecoin, Ripple

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