Prediction: Bitcoin Will Hit $100,000 by the end of 2021

[Barry McCockinner 21,295]

Just now, Maxman said:

Anyone own Doge?

yikes. i wouldn't touch it personally.

[Maxman 543,716]

1 hour ago, Barry McCockinner said:

yikes. i wouldn't touch it personally.

Wait, what? I just put my ENTIRE 401k in it.  OMG. 

Just kidding. 

[TokyoJetsFan 4,120]

Bitcoin Tops $58k, More Valuable Than A Kilo Of Gold

[Maxman 543,716]

2 hours ago, TokyoJetsFan said:

Bitcoin Tops $58k, More Valuable Than A Kilo Of Gold

I bought in when it already seemed high and it's up a lot already.

[TokyoJetsFan 4,120]

40 minutes ago, Maxman said:

I bought in when it already seemed high and it's up a lot already.

Gonna go higher, especially if this headline is true that came out tonight: Beijing is considering relaxing restrictions on capital outflows

this will send crypto to the moon...

 

[Maxman 543,716]

9 hours ago, TokyoJetsFan said:

Gonna go higher, especially if this headline is true that came out tonight: Beijing is considering relaxing restrictions on capital outflows

this will send crypto to the moon...

 

Not going to lie, I don't understand the impact. But that works for me.

[Butterfield 1,398]

At this point, what is the point of investing in it?  The risk doesn’t outweigh the reward in my opinion.  Now if you bought it years ago, I could understand.  But at this point, its really too late.  

[The Crusher 234,718]

On 2/19/2021 at 2:27 PM, Maxman said:

Anyone own Doge?

@HessStation

[ZachEY 268,964]

7 hours ago, Butterfield said:

At this point, what is the point of investing in it?  The risk doesn’t outweigh the reward in my opinion.  Now if you bought it years ago, I could understand.  But at this point, its really too late.  

I bought at 19K in Nov and sold this past weekend at 56K.

Didn't become a bitcoin millionaire, but a nearly 3x multiple wasn't bad.

[Barry McCockinner 21,295]

7 hours ago, Butterfield said:

At this point, what is the point of investing in it?  The risk doesn’t outweigh the reward in my opinion.  Now if you bought it years ago, I could understand.  But at this point, its really too late.  

I mean, this thread was created in February of 2020 but to answer your question it depends on what time frame you're looking at. If you're looking short term you might be able to 2x or a little better from here but I'd agree, more risk than it's worth. If you're looking longer term, the target after the next cycle according to the stock to flow model is 

 

[ZachEY 268,964]

13 minutes ago, Barry McCockinner said:

I mean, this thread was created in February of 2020 but to answer your question it depends on what time frame you're looking at. If you're looking short term you might be able to 2x or a little better from here but I'd agree, more risk than it's worth. If you're looking longer term, the target after the next cycle according to the stock to flow model is 

 

If there's a meaningful dip, I'll get back in and hold.

I do however, have some reservations about believing BTC will become a meaningful tradable commodity.  Too many people with lots of money who didn't get in early enough will fight that, no?

[Barry McCockinner 21,295]

9 minutes ago, TeddEY said:

If there's a meaningful dip, I'll get back in and hold.

I do however, have some reservations about believing BTC will become a meaningful tradable commodity.  Too many people with lots of money who didn't get in early enough will fight that, no?

How do people with lots of money fight bitcoin?

crypto is an emerging asset class and btc is king. You're seeing a lot of institutional money starting to pour in because they lose value storing it in cash or bonds. Soon there will be an ETF in the US bringing in a lot of liquidity. 

Here's one institutional investor explaining why they're moving cash reserves to btc.

 

[ZachEY 268,964]

3 minutes ago, Barry McCockinner said:

How do people with lots of money fight bitcoin?

crypto is an emerging asset class and btc is king. You're seeing a lot of institutional money starting to pour in because they lose value storing it in cash or bonds. Soon there will be an ETF in the US bringing in a lot of liquidity. 

Here's one institutional investor explaining why they're moving cash reserves to btc.

 

I would just think if a number of big institutions refuse to adopt, it may stall.

I don't know a ton about it, but seems like there are going to be some major players invested in not letting bitcoin become an easily proliferated currency.

No idea.  And, if I can get back in cheaply, I will.  What the **** do I know?  It's been good to me so far.

[Barry McCockinner 21,295]

20 minutes ago, TeddEY said:

I would just think if a number of big institutions refuse to adopt, it may stall.

I don't know a ton about it, but seems like there are going to be some major players invested in not letting bitcoin become an easily proliferated currency.

No idea.  And, if I can get back in cheaply, I will.  What the **** do I know?  It's been good to me so far.

I just read back through this thread and saw you were very skeptical back then. You must have done your research. Glad you did well with it. 

I haven't hit my profit taking range yet for this cycle but it's in site now. Took some from UNI the other day when it popped to $30 real quick, then dumped half of that back into BTC when it dropped to 46 the other day.

[greenwichjetfan 4,982]

1 hour ago, Barry McCockinner said:

I mean, this thread was created in February of 2020 but to answer your question it depends on what time frame you're looking at. If you're looking short term you might be able to 2x or a little better from here but I'd agree, more risk than it's worth. If you're looking longer term, the target after the next cycle according to the stock to flow model is 

 

Will be interesting to see how this curve will look without investor sentiment. I think a ton of people who understood the significance of the halvings got back in early on knowing it'd shoot up again. With no more halving events, I'm not sure it'll get another shot of adrenaline like that again. At this point, it's all about how it works in the real world. 

[Barry McCockinner 21,295]

30 minutes ago, greenwichjetfan said:

Will be interesting to see how this curve will look without investor sentiment. I think a ton of people who understood the significance of the halvings got back in early on knowing it'd shoot up again. With no more halving events, I'm not sure it'll get another shot of adrenaline like that again. At this point, it's all about how it works in the real world. 

There are more halving events though.

[Maxman 543,716]

5 hours ago, TeddEY said:

I bought at 19K in Nov and sold this past weekend at 56K.

Didn't become a bitcoin millionaire, but a nearly 3x multiple wasn't bad.

Shirtless picture of you mining bitcoin in the garden or this never happened.

[Maxman 543,716]

3 hours ago, Barry McCockinner said:

There are more halving events though.

I know this is a stupid question, but how is that set? Or maybe I should ask, who controls that?  Is it pre-determined when it happens or are their trigger events?

Thanks.

[greenwichjetfan 4,982]

3 hours ago, Barry McCockinner said:

There are more halving events though.

Wtf. I could have sworn the May one was supposed to be the last and final one. I know I read that multiple times. 
 

either way, yes I see that it’s going to occur again in 2024. Good to know.

[ZachEY 268,964]

 

 

[Maxman 543,716]

2 minutes ago, TeddEY said:

 

 

This is hysterical!!!!

[Barry McCockinner 21,295]

8 hours ago, Maxman said:

I know this is a stupid question, but how is that set? Or maybe I should ask, who controls that?  Is it pre-determined when it happens or are their trigger events?

Thanks.

It's programmed in that after every 210,000 blocks are mined the reward is cut in half. It works out to about 4 years.

[Gangrene 1,107]

Well done Barry,  like Max, I wish I had read this thread in February 2019.  

Listening to the likes of Janet Yellen, Jamie Dimon and Christine Lagarde, I blame for not jumping in years back.

Reading up a little I came across this quote in  a finance article...

It's  indicating that if you can manage to hold for two to three years,  Bitcoin is an exciting if speculative risk.

The writers' two caveats are

1. There will be significant and wild pull backs along the way i.e. you better have the stomach to see the floor drop out from under your investment for months at a time before it recovers on it's upward trajectory.

2. Longer than three years there is the risk of other technologies overtaking bitcoin making it redundant.

 

• There hasn’t been a single year since 2013 when prices have not fallen at least 25% from a high point reached earlier in that year, said Gavin Smith, CEO of the digital-asset firm Panxora. He said he wouldn’t be surprised to see bitcoin prices rise to $70,000 or $80,000, nor a setback of 40%. Medium term, he’s bullish: “Over a three-year period, this is a great asset.” But over the long term, there’s a risk that technological developments could overtake bitcoin. “Even with quantum computing, there's nothing on the horizon that indicates that could happen,” he says, “but it’s always dangerous to completely ignore the risk.”
   
• link to full article            https://www.coindesk.com/why-is-bitcoin-going-up-and-will-it-crash

[Barry McCockinner 21,295]

31 minutes ago, Gangrene said:

Well done Barry,  like Max, I wish I had read this thread in February 2019.  

Listening to the likes of Janet Yellen, Jamie Dimon and Christine Lagarde, I blame for not jumping in years back.

Reading up a little I came across this quote in  a finance article...

It's  indicating that if you can manage to hold for two to three years,  Bitcoin is an exciting if speculative risk.

The writers' two caveats are

1. There will be significant and wild pull backs along the way i.e. you better have the stomach to see the floor drop out from under your investment for months at a time before it recovers on it's upward trajectory.

2. Longer than three years there is the risk of other technologies overtaking bitcoin making it redundant.

 

• There hasn’t been a single year since 2013 when prices have not fallen at least 25% from a high point reached earlier in that year, said Gavin Smith, CEO of the digital-asset firm Panxora. He said he wouldn’t be surprised to see bitcoin prices rise to $70,000 or $80,000, nor a setback of 40%. Medium term, he’s bullish: “Over a three-year period, this is a great asset.” But over the long term, there’s a risk that technological developments could overtake bitcoin. “Even with quantum computing, there's nothing on the horizon that indicates that could happen,” he says, “but it’s always dangerous to completely ignore the risk.”
   
• link to full article            https://www.coindesk.com/why-is-bitcoin-going-up-and-will-it-crash

Yea it's normal for it to peak and fall back. I will say that there is no point on the BTC chart where you would have lost money if you held for 4+ years.

[Barry McCockinner 21,295]

Bitcoin broke 60K today. We're now closer to 100K than we are the price of bitcoin when the thread was created.

[Maxman 543,716]

1 hour ago, Barry McCockinner said:

Bitcoin broke 60K today. We're now closer to 100K than we are the price of bitcoin when the thread was created.

I don't have much but I'm glad I bought some. It's fun to root for.

[Maxman 543,716]

Good crypto day with DOGE doing really well right now (percentage wise).

[Barry McCockinner 21,295]

[Barry McCockinner 21,295]

Just bought a half acre lot to build a house on with some Ethereum gains. Feels good man.

[fullblast 3,970]

Bought in just before the 2017 frenzy and held through the 2018-2019 correction. Only regret is not buying more. The days of becoming an overnight millionaire through BTC are probably over, but there are still a lot of gains to be had with a 5-10 year outlook in mind. Anyway, I thought this was pretty poignant.

 

[Maxman 543,716]

13 hours ago, Barry McCockinner said:

Just bought a half acre lot to build a house on with some Ethereum gains. Feels good man.

Nice, what state?

[Barry McCockinner 21,295]

1 hour ago, Maxman said:

Nice, what state?

South

[jetstream23 37,527]

The problem is the capital gains tax on using BTC to purchase things it seems.  Saw a report of a guy who used BTC to purchase a Ferrari.  The minute he used BTC as currency he had a capital gain on the profit between the price he bought at and the market value utilized in the car purchase.  I'd rather just use cash.  Why show up at the car dealership with gold bars? lol

For the record I own about 0.556 bitcoins. lol

 

[Biggs 13,199]

16 hours ago, jetstream23 said:

The problem is the capital gains tax on using BTC to purchase things it seems.  Saw a report of a guy who used BTC to purchase a Ferrari.  The minute he used BTC as currency he had a capital gain on the profit between the price he bought at and the market value utilized in the car purchase.  I'd rather just use cash.  Why show up at the car dealership with gold bars? lol

For the record I own about 0.556 bitcoins. lol

 

No problem, he can use Bitcoin to pay the IRS the cap gain. 

[Barry McCockinner 21,295]

here's a shorter term prediction: Bitcoin will break 80K in April.