Bitcoin is $115,000 per coin. What happens now? What happens next?

00:01 Hey everyone. Bitcoin is $115,000 per
00:04 coin, up from as low as $108,000 per
00:07 coin two days ago, but the last two
00:10 days, uh, yesterday essentially popped
00:12 it up to 112, and today it was above 116
00:15 for a little while, and right now it’s
00:16 just under 116,000 at 115,700
00:20 as I record this. So, what happens next?
00:23 Well, the longer Bitcoin has been
00:25 chopping around absorbing a new price
00:27 level, the quicker it rises when it does
00:30 rise. And we’ve spent about 7 months,
00:32 mostly bouncing around between 100 and
00:35 $110,000 per coin. So, yes, we did drop
00:38 very temporarily into the ‘9s. A number
00:41 of months back, we dropped very shortly
00:43 into the 80s and then the 70s, but most
00:46 of the last 7 months has been, you know,
00:48 in the 100 to $110,000 range. And the
00:52 longer we’re in that range, the higher
00:54 we can go when it’s time to break out of
00:56 that because the higher percentage of
00:58 the total Bitcoin is held by people who
01:01 want to be in that range and higher than
01:03 that range rather than people that own a
01:05 lot of Bitcoin at a lot cheaper prices
01:07 than that and are looking to get off the
01:09 bus. So the longer we’ve been in a
01:11 range, typically the more fuel we have
01:14 in the tank, as James Czech would say,
01:16 to go higher because all that chopping
01:19 around has gotten as many people on the
01:21 bus and off the bus that want to be on
01:23 the bus or off the bus. So also, these
01:26 runs usually happen in more than just
01:28 two days. Uh the reason for that is the
01:31 first time Bitcoin’s price starts to
01:32 take off, people start taking notice,
01:34 but it usually takes them a couple days
01:36 to move funds around. For example, if
01:38 you’re doing wire transfers, often those
01:40 take 24 hours. Uh, just moving stuff
01:42 around in the traditional financial
01:44 system takes a couple days. So,
01:46 typically when you start getting a run
01:47 like this, you start getting some fear
01:49 of missing out, FOMO. And people start
01:51 realizing that they’re missing out on
01:53 Bitcoin, which is they are. And so, they
01:55 move things around. And so, usually
01:57 rallies like this last at least three or
01:59 four days, if not, you know, five or
02:01 more. And usually you don’t top out at a
02:04 price that’s just modestly higher than
02:07 where you started. You typically top out
02:09 uh before a little breather at a price
02:12 more significantly above where we
02:13 currently are. So my prediction is that
02:16 over the next two or three days the
02:20 price will climb above $120,000,
02:23 potentially $125,000.
02:25 And then at some point, maybe it’s now,
02:27 maybe it’s in a couple days, we will
02:29 take a breather as everybody who owns
02:31 Bitcoin digests what it’s like to have
02:34 that much Bitcoin at that price level,
02:36 which of course will involve some people
02:38 who are now feeling wealthy and want to
02:40 liquidate some of their Bitcoin, even
02:42 though mostly that makes no sense.
02:44 Unless, of course, you’re improving the
02:45 life of you or your family, in which
02:47 case that is the point of money,
02:48 including Bitcoin. So, uh, we’ll spend
02:51 some time digesting this price level and
02:53 then I anticipate we will go higher. Um,
02:56 now we could get a radical sort of shoot
02:58 for the stars sort of thing going. Uh,
03:00 although that’s less likely, it’s more
03:02 likely that we grind up to somewhere
03:04 between$125 and $130,000 per coin. And
03:08 then it takes us a series of days,
03:09 weeks, or months to digest that new
03:12 price level as people get on and off the
03:14 elevator at that price level before we
03:17 have all the right people that want to
03:18 be on the elevator between $125 and
03:21 $130,000 and are anticipating that it
03:24 goes up. At which time once all the
03:26 people that could possibly want to
03:28 liquidate Bitcoin, you know, above
03:30 $125,000 per coin, once all of them
03:33 finally have, then we march higher. And
03:36 of course at some point we could get a
03:37 more significant dip of 30%. Or
03:40 something like that. Although it does
03:41 not feel likely because we spent so much
03:43 time 7 months chopping around at uh
03:47 prices that are barely below where we
03:49 are. Uh it just seems like uh a major
03:52 correction is not in the cards and all
03:54 of the ones that we have had such as the
03:58 attacks on Iran that caused a dip of
04:01 Bitcoin I think to 98 or $99,000 but it
04:05 lasted like a matter of hours. So it’s I
04:08 hardly call it a dip if you’re you know
04:10 if you only have to endure it for a
04:12 series of hours. Uh but anyway, so
04:14 that’s what I think is going to happen.
04:14 And I think the next couple days, couple
04:17 few days is going to be exciting and
04:18 then it’ll be boring for a little while
04:20 and then it’ll be exciting again.
04:22 Welcome to investing. That is how it
04:24 works. Um, you know, days of thrill
04:27 interspersed with months and years of
04:29 boredom that ultimately results in you
04:31 having way more money at the end. But
04:34 after having to expend way more patience
04:36 than you thought you were going to have
04:38 to. That is the nature of investing is
04:40 it requires way more patience. As uh one
04:44 famous investor said, the money is all
04:46 made in the waiting, not in the buying
04:48 and selling. The money is all made in
04:49 the waiting. And the waiting is the hard
04:51 part. And that’s the part people don’t
04:52 like, but it’s an inevitable part of
04:54 investing. So enjoy the ride.