I’m personally a fan of Max Kaiser but he’s usually wrong about finance things. To be fair, price predictions are VERY hard to predict. If it were doable, you’d see *a lot* more billionaires that wave their magic price wands around and mint money out of thin air.
Alas, that is not possible unless you own the printing press. (Oh by the way, the book I keep promoting does just that, take a look!).
But take heart folks, bitcoin WILL hit $5,000, some day. How do I know?
Bitcoin halving occurs roughly ever 4 years, and we are due for the next halving around June 20th, 2020. Source http://www.bitcoinblockhalf.com/
So usually price goes up because supply (generation of new bitcoins) is literally halving, but demand is the same or keeps increasing. So simple law of supply and demand.
Before the recent halving, bitcoin was $200-$300. I predicted after halving it would go up to at least $1200 but no more than $2400-$3600, with $1200 being more likely. I was kind of wrong but also right. Basically it’s worth about $2500-$2700 right now. I personally thought it would stabilize around $1200 if not much else changed.
I didn’t factor in nations recognizing bitcoin as official currency like Japan and South Korea did. That was responsible for the biggest gain bitcoin has ever seen from $1000 all the way up to $2900. When more nations adopt it, expect demand to DRAMATICALLY increase, and therefore, increase in value.
This also accelerates velocity of money, which also pushes up bitcoin’s price. The best part is, this also increases the value of altcoins too. It’s great.
With the western civil war 2.0 on the horizon and the destruction of the fake news media/deep state industrial complex/central banking system coming, it’ll be interesting to see how this all plays out. In the meantime, enjoy the bitcoins folks.
If you want to get into the bitcoin game, buy my book and starting minting it. You won’t regret it. Also pick up Mike Cernovich’s gorilla mindset as well. There’s a specific section on emotional control that I want you to have because fear always makes you lose money, even if you’re printing money out of thin air.
Check out my latest book, Mine Bigly – How to earn 200%-808% percent returns mining bitcoin for less than $5 a month in electricity costs because it’ll change your life and you won’t have to invest in scams anymore.