When will Bitcoin reach all-time highs?
How long will it take before mainstream adoption kicks in?
What even is a Ripple?
These are some of the most asked questions in cryptocurrency,
but there's one question that rises above all others.
It's the one question everyone wants to know.
Everyone has a lot of skin in the game, if you own Bitcoin, to find the answer.
Will Bitcoin ever hit $1 million?
Find out today,
as I talked it up with Crypto Wendy O.
Hey, guys. So I'm joined with Wendy.
We're glad to have you, as always, on the show.
I appreciate you coming in every week,
doing some TA for us usually, but, today, I want to do something a little bit different.
So, let's just start off with the question.
People in my audience know who you are.
They know you're a TA expert.
You wouldn't say that, I bet,
but I'll say it, Wendy. Okay?
- Thank you. - I’ll say you’re a TA expert.
Technical analysis expert.
Is Bitcoin ever going to hit a million dollars?
To be honest with you, I think it will.
- Against-- - Really?
Against my--
Normally, I talk-- I don't like to give predictions like that,
but I think one day it will hit a million dollars.
And do you want to know why?
Why?
So I think that there's a lot of volatility with the market.
And, you know, essentially, Bitcoin was created as digital cash.
We're supposed to spend it.
We're not supposed to HODL it.
We're not supposed to trade it.
But I think that once Bitcoin hits a very, very high peak price,
I feel like we're gonna start to see a lot of this volatility kind of go away and minimize,
so it's not-- this is--
This is my opinion. It's not backed by math. It's not backed by technical analysis.
- It’s backed-- - Well, it’s okay. Fiat isn't backed by anything, so.
That’s true. It's backed by--
- I couldn't tell you. - Yeah.
Anyways,
I think that a million dollars just seems like a nice price point for Bitcoin to kind of stabilize that.
Because who's really--
Who's gonna move the market when it's a million dollars?
Yeah.
Well, that would put--
I believe, since Bitcoin has 100 million satoshis,
if you move that decimal or--
or if you move that over two places, the decimal, then that would put one satoshi equal to one penny.
- Oooh. - Yeah.
So it is a nice round number.
Now, I'll get into a little bit more
about my predictions for Bitcoin, and 'can it hit a million dollars?'
And, you know.
What everybody wants to know is,
can Bitcoin hit a million dollars in this bull run?
That might be kind of crazy, but I'm going to tell you a few things.
But I want to get into something that I've been talking a lot about here in my office
with my people that work here.
We've been talking about ‘what is Bitcoin?’, you know.
'Is it digital gold?' 'Is it currency?' We all know this one is not currency.
Like, we all know that.
But we're actually doing a video very soon on
‘what if Bitcoin were to become the reserve currency for cryptocurrencies?’
Whatever the electronic payment system is that works,
that they will actually be able to
you know, send value back and forth across the internet very quickly, easily, where it--
not only that, but you could do it in retail, brick-and-mortar.
We all know that coin exists, or it will exist. We don't know what it is.
But what if instead of these stablecoins being pegged to the US dollar, you know,
you have an electronic currency that's pegged, you know, to Bitcoin.
I think that could lower some of the volatility,
and things like that.
I mean, you look at the Dollar Index,
and, yeah, we've dropped off like a cliff, like, 10% over the last 6 months,
or 9 months now, however long it's been,
but, you know, it's only 9%.
You know, I mean,
Bitcoin swung back and forth 9%, like, six times since then. So.
I actually-- I've never thought of that fully.
But that actually makes a lot of sense because we are going to implement a digital dollar.
Each different country or continent,
whate-- maybe even different cities,
they’re gonna have their own digital fiat currencies,
and they really need something a little bit better than a US dollar,
or a yen,
or a peso,
or even the GDP to kind of back it by because if the economy takes, so does the GDP,
- and then your currency is-- - Absolutely.
Your currency is still worthless.
So the fact that there-- that is a viable solution, it’s very interesting to me.
It is. You hadn't thought about--
Let me ask my off-air- AIR personality.
TJ, are we the first people to have thought of this?
TJ says ‘no’. TJ says-- okay.
He always tells me that other people have thought of things before me.
He just doesn't know where it is or who they are.
- Okay. - But he always knows I'm not first.
So,
he's-- he's called--
He's a Debbie Downer in the office and specifically towards me.
- Okay? - Oh, Negative Nancy?
- He's a Negative Nancy. Debbie Downer. - Oh, man.
Sour Cindy.
Okay, but let's--
So here's the thing.
Do you have a personal prediction for where you think Bitcoin will be by the end of this bull run?
Well, the stock market is going to crash. It's going to be very volatile.
It is going to crash, so if you guys are watching this, and you guys are all euphoric,
I'm here to tell you, and to be the Debbie Downer of the show, is that it will crash.
Everything corrects. If you look at gravity, whatever that goes up, must come down,
and think about that with the market.
I think $50,000 is a nice conservative target.
I mean, maybe it will shoot up higher,
but realistically, you gotta look at market cap,
you gotta look at the economy,
who's got money to spend,
we are in the midst of a pretty crazy hectic time,
we've got another election coming,
and this particular time is a lot different than the last bull run.
Still a very contentious time back then as well.
A lot of the same things that were happening 4 years ago are happening now.
- Not a shocker, if you ask me. - True.
But, you know, so for me, personally, like,
my prediction for Bitcoin is considerably higher for that. It's 225K.
And--
Well, the stock-to-flow chart says 290K!
Okay.
Are you not down with the stock-to-flow chart?
- I like a-- - Are you one of those people that shuns it?
It's not that I shun it.
I just prefer to do my own analysis, and I also don't like to--
I like to be a little bit more conservative.
And the reason why I like to be a little bit more conservative is because if you set--
When we're talking about money,
when you set your sights on something that is extremely, extremely high,
maybe it may or may not go there,
but I feel like--
I still feel like $50,000 is just great.
It’s a great target.
Actually, screw that.
My target is not $40,000.
It's not $50,000.
It's gonna be $315,000.
Oh, that's good! I thought you were going for $300 trillion.
- That would-- - No.
That's what I'm gonna sell my company for one day,
$300 trillion.
That amount of money doesn't even exist right now.
- But it will. In 3 years - Well, I'm-- I'm sure that we can--
- We can print it. - We can print it. Absolutely.
There’s no problem with that.
Yeah, you guys hear that? She's not big on PlanB's stock-to-flow chart.
So,
Wendy,
strong, independent woman,
don't need that chart.
So, I like that about you.
- I appreciate it. - So, yeah.
So, Wendy, here's the thing.
So I told you my target.
You told me your target.
And then, just like most people, you listen to me and decided to go way more bullish, so.
I believe that 290K is, it's so crazy to think that that's what the stock-to-flow chart says.
That’s why I backed off a little bit.
I'm like about 225K. I've been saying that for about a year now,
somewhere around then.
And I know people though now,
we've seen a slight change in the sentiment
over the last 2 weeks.
Now, the last week has been a little, you know, the markets have been bleeding and stuff like that.
A lot of people are saying that PayPal’s entrance into crypto,
combined with what JPMorgan is doing, they have a new blockchain company, right? Called--
called Onyx?
You're looking at--
you know, obviously, MicroStrategy,
which none of us knew what they were until they put a bunch of money in Bitcoin,
so I don't know why, all of a sudden, everybody loves MicroStrategy like it's--
you know,
I don’t know,
some great company.
But, with all this money coming in, all this institutional money coming in,
and all these changes,
I even know people who now are starting to say,
like, people I know who are--
who are level-headed individuals.
These are not, like, random guy in my comments
that's like “Bitcoin to moon!” you know? Not that guy.
That's me, but it’s--
It’s literally--
you know, level-headed people I know, saying that they really believe that 500K, 600K, 700K
is in play for this bull run.
I don't want to say this bull run
because I feel like that’s--
that's very, very high. I do like, like I said,
- I like the $315,000. I like that. - Yeah.
I think that's-- I gotta outdo you. I gotta be more bullish than you,
but I think that that's a little bit more reasonable.
But can you imagine that shooting? How many times is that?
For it to go from 14-- Let's just call--
Let’s just even it out and say 15K right now, even though it's at 14.
How many times is that? How fast can you do that math?
Well, six times would be 90K,
and 90K would go into 36--
It'd be like 50X almost. Am I right? Wouldn't it?
I wish I had my calculator open, which I don't.
I would literally do that math and verify my correctness.
I don't know. I mean, we'll see.
For Bitcoin to hit a million dollars,
I've been doing like a little bit of research on it,
you know, here and there,
and, you know, numbers always change, but I think it would need like, right now,
like a $20 trillion market cap,
something like that?
And, you know, they say there's about $80-100 trillion floating in the world.
That's minus derivatives and minus real estate.
Like, once you start adding those two, and you start talking about way bigger numbers,
but let's just say $100 trillion,
you’re saying one-fifth of all money would have to go to Bitcoin.
Now, there is--
I watched an interesting thing on climate change, believe it or not, of all things.
I know it's a controversial topic.
- Oh, yeah. - Yeah, very controversial. Okay?
What they say is that there was a--
They were talking about something-- It might have been on Joe Rogan's podcast a year ago,
where they were talking about how big of a problem climate change is.
And what these people were saying is
that climate change is not really going to to be a problem in the future
because we're going--
there's going to be so much more money created in the world from--
you know, because think about this.
If you have all these underdeveloped countries,
if every country were a first world country,
think about how much more money there would be in the world.
Does that make sense?
Right.
Yeah, I know it can get a little tricky with the economics and stuff like that.
I mean, somebody's always gonna be at the bottom.
But, if all of a sudden, you have all these people who have good living conditions,
it's kind of like, I think of it like this, like,
in the Middle Ages,
which may or may not exist.
That's a different video though.
Think of the standard of living in the Middle Ages, okay?
What would have been considered luxury in the Middle Ages?
Having a castle, being marri-- being shacked up with Dracula,
- or Duke, or something, - Yeah.
- having like a cow and a horse. - Right, having a cow, a horse.
- You still didn't have running water. - True.
You still didn't have electricity.
You still didn't have--
What was the other thing I was thinking?
There's so many things that you didn't have that, you know.
Now, our poverty level lives in luxury
compared to the people that were the highest level back then.
And that's kind of the idea that over time, things get lifted up,
and there's gonna be more money and more value in the world,
and things like that.
Now, we do have a wealth, you know,
not to get too hippie lib on you here,
but we do have a wealth distribution problem, obviously, in the world, and things like that.
But basically, there will be so much more money that that 100 trillion number could grow drastically.
If that makes sense.
So like, if Bitcoin were to hit a million dollars
because there was $20 million in cap,
in 10 years from now,
but there's a lot more money in the world,
like, it can make more sense fundamentally how that could actually happen.
- Does that make sense? - It makes sense,
but I would still have a lot of questions about it.
Like, how it would really work and how it would really be sustainable,
in the next, like, let's say, 10 years.
If you think about it.
So the point--
What this person was saying is we'll have enough money to just totally wipe climate change out.
We'll see. We can control our own weather, which we probably can already.
- Good for us. - I think so, too.
- TBH - Yeah.
So, but the long and short is, we're--
Let's wrap this up here, Wendy.
We are both in agreement,
Bitcoin will not hit a million dollars on the next bull run.
Correct.
But we are also both in agreement that we do believe, over the long term, it is possible,
maybe likely that Bitcoin hit a million dollars, correct?
I agree with that. I do think there is a big chance that it can hit $1 million,
not this bull run though.
Okay, last question.
How many cycles do you think it would take for Bitcoin to hit a million dollars?
When our kids are grown up.
Three cycles.
Maybe two.
Because if it were to go up to 300/350K,
drop back down to 20, 30, 40--
excuse me--20, 30, 40,000, something like that,
then possibly,
in the tail end of the next run, it could happen.
Are we also in agreement that we will pretty much see a standard bull cycle here?
Like, like what we've seen in the past? We'll see a pretty similar thing?
I think it's gonna look about the same, and just--
I know we're short on time here, but all I want to tell the BitSquad is
be very, very careful, you guys. Please make sure to take profits.
Do not bag-hold.
Keep a moon bag and just please take profits.
That's all I will say.
And then keep reinvesting, keep flipping, and keep doing it over and over again.
That's it.
Get that money.
Get that bread. Oh!
Get that bread.
Imma leave it there.
Thank you. This is not TikTok, sir.
Goodbye, Wendy.
Well, I'll see you.
Have a good day.
- Thank you. - Alright. Thank you.
BitBoy out.