$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 it’s 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 it’s 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 it’s
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 it’s 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 even since the big break of 20k, things are showing signs of parabolia.
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 it’s 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 ⅓ of 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
wanna 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 exchange’s
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 rumored to be the first to take this route with the
new rule change, and NYSE has been testing just a short few months ago, with big “traders”
of the exchange. And NYSE is an early investor in the ole coinbase…..
So if you didn’t know, Like Ron Paul would say….It’s happening! Which if you look
deep into Law School’s even own blog’s 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 listings 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 a 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 coinbase PRE-IPO
and post IPO filing, at 28 billion dollars.
Those are just predictive figures for today, and nothing set in stone, coinbase 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 it’s gotta
be either sometime around March or in the Summer. Now I don’t know if 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 me thinks, it’s coming around March 2021. That’s in just
3 short months….but in that time, we have so many things that can happen.
So I predict, a short selloff in January for BTC, but it will not be long, 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 gonna be wild, its gonna 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 is 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, their will
officially be a piece of crypt within wall st. Will Coinbase shares follow the Bitcoin
price, or will Bitcoin follow the Coinshares price, which officially means BTC is following
the stock market. If that is True Will St. pump it to 100k by December 2021? Me thinks
so. Cheers I’ll see you next time!