Bitcoin will reach $100,000 in mid-market price with Elon Musk and Donald Trump encouraging the pump, likely before New-Years at the current pace of the market. However, will it ever reach $1,000,000 with poor scalability?
“In politics, stupidity is not a handicap.” ― Napoleon Bonaparte
Donald Trump's winning the presidency made for a large win on a stalled-out cryptocurrency market. I feel there is a massive amount of damage coming from people like Elon Musk holding and shilling Bitcoin (BTC) and Dogecoin (DOGE) with open price manipulation, quoting himself as the president’s new “best friend” in a recent tweet, with a laughing in tears emoji.
Bitcoin is currently at $87,540 after touching $90,125. It could reach $100k anytime with large whale movements already ongoing. Dogecoin is currently at $0.37950 cents, having seen multiple 20%+ pumps. Ethereum is at $3,164, Ripple (XRP) is at $0.65, SOL is at a whopping $205.35. I predict Bitcoin will reach $100k and then whales will pull, however, then the whales will make a habit of pumping beyond 100k to keep prices high for entry, therefore protecting their investments and low buy-ins.
Bitcoin wasn’t intended to be manipulated on centralized, fiat-based markets. I guess time will tell on how decentralized it truly is. I look at things and think, good for the miners - but this is a giant bubble and the rich will drain it at a moment’s notice, only to pump it and drain it again. However, I think we have a nice pump in store before that happens and most altcoins are on board.
I don’t expect the price to hold, although I expect a series of bull runs throughout the Trump presidency. If I’ve learned anything, he’ll take money from anyone or anything. Crypto has been profitable for him in the form of NFTs for quite a while.
In a way, this has generated an artificial market… a false FOMO. But, the money is real, so hop on in and get a piece. The alt market is ripe for the taking, with many altcoins and meme-coins routinely pumping beyond 25% in a day; many lucky traders are seeing returns in thousands of percent with trillions of dollars actively flowing in and out of the market.
Are we too late? I don’t think so. Even if Bitcoin only reached $100,000 and immediately fell, buying now and selling at 100k in a limit order would still give you over 10% gains. However, is it worth the risk just for 10%? Do you expect Bitcoin to go far beyond $100k when it struggles to scale?
Well, I know the miners will gladly take as much hash power requirement as you can throw at them. I may fire mine up again if things get interesting enough. Bitcoin’s struggle to scale could be very profitable for some.
The face of the market has changed, which is what I have been waiting for. Now we have more liquidity, it’s a fluid market with a lot of enterprise. Am I happy with the presidential results? No, but I like crypto and I love to shoot in tournaments (currently modifying a CZ Shadow 2C 9mm for competition, CZ makes beauties!), so it doesn’t hurt me any. Gun laws will only get more relaxed.
I’m thrilled that crypto isn’t stagnant anymore, but concerned about how we arrived here. Companies and individuals like BlackRock and Musk owning a significant portion of the coins in circulation make for terrible market manipulation, now left completely unchecked by the government, BTC’s failed governance, with only tax and securities regulation. To put it bluntly, there is no one there to protect the little guy, and many will abuse the market with no interest in the projects they are investing in.
Perhaps this is just the world we live in, and we should capitalize as much as we can for life is short and we all want and deserve to retire in style. And why shouldn’t we…
I know I’m going to take what’s mine in this world, what about you? Will this pump take you where you are trying to go?
We can easily piggyback the wealthy and take a percentage of the pot.
As always,
Stay smart & Stay safe.
-Thomas Wolf
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I am not a certified financial, tax, legal advisor, analyst, or planner. The above information should not be considered advice but an opinion intended to share information and ideas for entertainment and independent research purposes. I am not responsible for any losses or damages incurred due to misinterpreting my personal opinions for professional advice.
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