BTC NOW 🚨 Can it double from here?

Summary

This video discusses Bitcoin's impressive past performance after breaking its all-time highs and explores predictions for its future price growth. Historical data shows Bitcoin doubling in price within weeks after surpassing its previous highs. Experts like Larry Fink and Michael Saylor share their bullish views, with Saylor predicting Bitcoin could reach $300,000 by 2025 and $10 million by 2035. The video also touches on Bitcoin’s role as a hedge against economic crises and shares personal trading strategies, urging caution and careful swing trading for profits while holding onto Bitcoin for long-term gains.

Takeaways

• 😀 Bitcoin tends to experience significant price increases after surpassing previous all-time highs, with past trends showing rapid price doubling within a few weeks.
• 😀 In 2011, Bitcoin doubled in 17 days after crossing its previous all-time high, while in 2013 it took just 13 days, in 2017 it was 26 days, and in 2020, it took 24 days to double.
• 😀 Bitcoin has recently crossed its previous all-time high from March this year, suggesting the possibility of continued rapid growth based on historical trends.
• 😀 Bitcoin dominance must cool off before the altcoin season begins, typically after Bitcoin dominance hits around 64%. Altcoins like SOI are already showing impressive growth.
• 😀 Larry Fink, CEO of BlackRock, believes Bitcoin is a legitimate financial asset that can thrive during times of crisis and provide uncorrelated returns as countries face currency debasement.
• 😀 Fink views Bitcoin as an instrument for investors who are concerned about the stability of their country's currency and financial systems.
• 😀 Michael Saylor predicts Bitcoin could reach $100,000 by the end of 2024, $300,000 by 2025, and $10 million by 2035, solidifying Bitcoin as 'digital gold' with immense growth potential.
• 😀 Josh's target for Bitcoin in the current cycle is $177,000, but for this to be confirmed, Bitcoin needs to maintain a monthly close above $80,000 in November.
• 😀 If the U.S. debt ceiling crisis worsens in 2025, Bitcoin could break away from traditional market movements and continue its upward trajectory as a hedge against financial instability.
• 😀 Josh has sold altcoins on recent pumps but is holding onto Bitcoin for wealth preservation. He also actively swing trades crypto, using technicals to capitalize on market moves.
• 😀 Josh advises against giving back profits from early Bitcoin investments and emphasizes the importance of protecting gains from altcoin rallies while focusing on Bitcoin's long-term potential.

Q & A

What historical pattern has Bitcoin followed after crossing its previous all-time highs?

Every time Bitcoin has surpassed its previous all-time high, it has experienced rapid price increases. For instance, in 2011 it doubled in 17 days, in 2013 it took 13 days, in 2017 it was 26 days, and in 2020 it took 24 days. This suggests Bitcoin may follow a similar trajectory after breaking its current all-time high.

How does Bitcoin's performance after reaching new highs impact altcoins?

Altcoin season typically begins when Bitcoin's dominance starts to cool off. As Bitcoin continues to rise, money flows into altcoins, leading to significant growth in those markets. This is expected to happen after Bitcoin reaches around 64% dominance in the market.

What is Larry Fink's perspective on Bitcoin as a financial instrument?

Larry Fink sees Bitcoin as a legitimate financial instrument that functions like 'digital gold.' He believes it provides a hedge against global crises, especially when countries are debasing their currencies, offering financial control in unstable environments.

What role does Bitcoin play during times of crisis according to Larry Fink?

Fink believes Bitcoin becomes particularly valuable during times of crisis. When markets are in turmoil or facing issues like debt problems, Bitcoin can soar as investors seek alternative, uncorrelated assets to protect their wealth.

How does Michael Saylor view Bitcoin's future value?

Michael Saylor predicts Bitcoin will reach $100,000 by the end of 2024, $300,000 by 2025, and $10 million by 2035. He views Bitcoin as an essential part of financial portfolios due to its long-term potential and value as a hedge against traditional fiat currencies.

What is the speaker’s personal strategy with Bitcoin?

The speaker is strategically holding onto Bitcoin, avoiding selling it, and focusing on swing trading altcoins. Although he has sold some of his altcoins to capitalize on profits, he believes Bitcoin will continue to rise, especially if it maintains over $80,000 in November 2024.

Why is the speaker not selling his Bitcoin despite being involved in altcoin trading?

The speaker is committed to holding Bitcoin due to its long-term growth potential. Although he is trading altcoins for short-term gains, he considers Bitcoin a more secure asset, particularly with predictions of its future value increasing significantly.

What could be a potential catalyst for a Bitcoin surge in the future?

One potential catalyst for Bitcoin's surge is political action, such as Donald Trump supporting Bitcoin as a reserve asset. Such a move could prompt other nations to adopt Bitcoin, sending shockwaves through the market and significantly increasing its value.

What is the speaker’s prediction for Bitcoin in the near future if it closes above $80,000 in November?

If Bitcoin closes above $80,000 by the end of November, the speaker expects a bullish continuation, signaling that Bitcoin is on track to meet its predicted highs for this cycle. This would reinforce the speaker's confidence in Bitcoin's future growth.

What is the significance of the 'limited supply' of Bitcoin as mentioned in the script?

Bitcoin's limited supply is a key factor driving its potential for price increases. As demand rises and the supply remains finite, the scarcity of Bitcoin is expected to push its value up, supporting the predictions of significant price surges in the coming years.