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In the fifth installment of the “BitcoinTina On Bitcoin” series, CK and BitcoinTina discussed the potential bull market scenarios for bitcoin.
In this podcast, they covered three different bitcoin price scenarios which are all very bullish but difficult and distinct to trade.
#bitcoin has 3 potential price paths IMO.
1. Parabolic up in 2021 then crash. Typical view of bitcoiners. Deep consensus.2. up 2-5X each year 2021,2022,2023, with 20-40% corrections. Then front run 2024.
3. Massive repricing up $500K to $1 million 2021/22. Then sideways.
— BitcoinTina
– “TINA” #bitcoin (@BitcoinTina) December 24, 2020
The cornerstone of BitcoinTina’s argument is that Bitcoin has a new class of buyer. Before the bitcoin market was run by the youth and the technologically advance. Now, we are seeing Baby Boomers, institutions and corporations come in with much more purchasing power, very different needs and very different investing behaviors.
Bitcoin is becoming safe. The investors that are entering into the bitcoin market in 2021 have watched tech stocks to go straight up for 20 years. Many of them traded tech incorrectly and missed the move. Some will get that bitcoin is the same, but much bigger. It matters who is coming in to buy bitcoin.
Michael Saylor said that if you understand bitcoin, you can not own just a 1 percent position. It’s absurd! If you hold bitcoin you have an advantage financially. With bitcoin, you are on the high ground. Investors, stackers and institutions are realizing this. No one knows how bitcoin will play out, but if you don’t even understand the player in the game there is no way you will begin to understand its trajectory.
Additional resources recommended by BitcoinTina:
“Bitcoin Is The Great Definancialization” by Parker Lewis
“The Gradually Then Suddenly” Blog Series by Parker Lewis
“The Saylor Series”: Episodes one through eight by Robert Breedlove and Michael Saylor
“The Investors Podcast” With Samson Mow
An excerpt from “Reminiscences of a Stock Operator”:
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”
“Reminiscences of a Stock Operator,” page 53
The post The Hardest Trade: BitcoinTina On Bitcoin appeared first on Bitcoin Magazine.
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