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


Barry McCockinner
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  • 2 weeks later...

Anyone here invest in OTC's? Had a great return on a Hail Mary $150 I threw at AWGI in 2017, which is now CPSL, which has been acquired by the CEO and CFO of NXMH (Next Gen Meats). Still waiting for the 8K sec file and merger news. Very exciting time.

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9 minutes ago, Barry McCockinner said:

So a bitcoin futures ETF launched today. Can someone who understands WTF a futures ETF is explain it like I'm 5? My understanding is that this doesn't mean anyone new is buying bitcoin but there seems to be a lot of buzz about it.

https://www.cbsnews.com/news/bitcoin-etf-futures-listing-proshares-bito/

@southparkcpa?

Crypto is not something I invest in or put clients in but my understanding is that all monies that flow to this ETF will be invested in futures contracts on Bitcoin. So.. if bitcoin rises, the futures contracts will rise and visa versa if they fall.

If Bitcoin is at 10X and we hold a contract allowing us to buy at 9 X the contract will value at 1X.  So, we buy that contract.  If Bitcoin rises, the contract will rise as well.  I can read up on it but it is not my thing per se.

 

 

 

 

 

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32 minutes ago, southparkcpa said:

Crypto is not something I invest in or put clients in but my understanding is that all monies that flow to this ETF will be invested in futures contracts on Bitcoin. So.. if bitcoin rises, the futures contracts will rise and visa versa if they fall.

If Bitcoin is at 10X and we hold a contract allowing us to buy at 9 X the contract will value at 1X.  So, we buy that contract.  If Bitcoin rises, the contract will rise as well.  I can read up on it but it is not my thing per se.

 

 

 

 

 

I know you're not into crypto. It's the ETF & futures thing I'm asking about. I don't know what either is and tbh, am not grasping your last explanation. lol

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20 minutes ago, Barry McCockinner said:

I know you're not into crypto. It's the ETF & futures thing I'm asking about. I don't know what either is and tbh, am not grasping your last explanation. lol

But PLUG is coming back.  I more than tripled my money in my IRA, cashed out at 38 or so, bought at around 12.

In my taxable account, I rode it to 72, down to 24 and now at 33 or so.  Also in at around 12.

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9 hours ago, Barry McCockinner said:

So a bitcoin futures ETF launched today. Can someone who understands WTF a futures ETF is explain it like I'm 5? My understanding is that this doesn't mean anyone new is buying bitcoin but there seems to be a lot of buzz about it.

https://www.cbsnews.com/news/bitcoin-etf-futures-listing-proshares-bito/

@southparkcpa?

It's an ETF not unlike USO when it comes to oil. The ETF holds futures contracts and then sells them off, to only buy contracts with a later strike date. It's a commodities trade for bitcoin.

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  • 2 weeks later...
On 2/10/2020 at 12:34 PM, Dcat said:

12/14/2017: Value of bitcoin = $17,389.22.  

Value right now 2/10/2020 (includes all splits, etc. ) $9,843.52

anyone who invested 2 years ago has lost nearly half their investment.  Of course, had someone invested at or near the beginning it would be a different story.

Thanks for the financial advice. But is premised on hope and prayer.  

2 months to go. Bitcoin is at 62k as I respond. What do you think rn? Will my prediction hit or nah?

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On 11/1/2021 at 4:23 AM, Barry McCockinner said:

2 months to go. Bitcoin is at 62k as I respond. What do you think rn? Will my prediction hit or nah?

I placed a substantial bet that bitcoin would be above 80k on Dec. 31st back in June when it was trading around 35K.  Hoping it hits, would be a nice payday

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  • 4 weeks later...
36 minutes ago, Barry McCockinner said:

welp - this isn't looking very good right now. I would be surprised if we hit the 100K target by end of year at this point. I still think it hits  by the end of this cycle but the people who have been saying this is going to be expanding cycles seem to be correct.

It seems like the last couple times it broke prior ATH people saw clear skies ahead, opened a boatload of leveraged positions, and frankly needed to get washed out for continuation upwards to be healthy. I thought (incorrectly) that the first of the two washouts would be enough for it to work the second time. Hopefully third time's the charm.

There does seem to be on chain data that supports the idea that this will be an extended cycle as you mentioned. The on chain stuff is absolutely flawed at this point but it's interesting to see that data and better information starting to come together and grow as folks start figuring out how to parse through it, come up with metrics, and build off each other's stuff.

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  • 5 weeks later...
On 11/29/2021 at 12:05 PM, Barry McCockinner said:

welp - this isn't looking very good right now. I would be surprised if we hit the 100K target by end of year at this point. I still think it hits  by the end of this cycle but the people who have been saying this is going to be expanding cycles seem to be correct.

Mr madoff.  How was the food in jail????😂

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1 hour ago, southparkcpa said:

Mr madoff.  How was the food in jail????😂

Bitcoin is not a ponzi scheme.

A ponzi scheme is when a fraudulent entity promises investors returns based on the idea that there is some non-existent legitimate business or investment activity returning profits. No one controls bitcoin or pretends there is any sort of business or investment activity behind the scenes generating a profit.

Bitcoin fixes money and separates money from state. This is a good thing for humanity. 

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1 hour ago, Barry McCockinner said:

Yes, I definitely got it wrong so I have to take the "L" on this one. I take solace in the fact that anyone who listened to me when the thread was created is up 4-5x, so at least I didn't hurt anyone.

I still think we get there in 2022.

Except all those cool rebellious types that moved to El Salvador.

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1 minute ago, RutgersJetFan said:

Except all those cool rebellious types that moved to El Salvador.

I'm not following. El Salvador is doing pretty well this year and if you have a good amount of bitcoin it's considered legal tender so you won't get taxed on spending it. They're building schools and hospitals with bitcoin gains, they're mining bitcoin with volcanoes ffs.

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2 hours ago, Barry McCockinner said:

I'm not following. El Salvador is doing pretty well this year and if you have a good amount of bitcoin it's considered legal tender so you won't get taxed on spending it. They're building schools and hospitals with bitcoin gains, they're mining bitcoin with volcanoes ffs.

El Salvador is run by a dictator who proclaimed Bitcoin as the future currency.     DICTATOR.   Bitcoin.   

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2 hours ago, Barry McCockinner said:

I'm not following. El Salvador is doing pretty well this year and if you have a good amount of bitcoin it's considered legal tender so you won't get taxed on spending it. They're building schools and hospitals with bitcoin gains, they're mining bitcoin with volcanoes ffs.

You're starting to sound like a bot with this crap. Lighten the **** up dude.

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1 minute ago, southparkcpa said:

El Salvador is run by a dictator who proclaimed Bitcoin as the future currency.     DICTATOR.   Bitcoin.   

While we agree that a dictatorship is bad, what other part of this is bad? He doesn't control bitcoin. He didn't make their existing legal tender no longer legal tender. He simply made bitcoin legal tender as well.

He also put some of the countries reserves into bitcoin, then took some of the profits from that and invested it into the country by building hospitals and schools.

 

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