The Path to $100k Bitcoin in 2023 and $200k in 2024For those who still believe as I do, that we'll see new highs in the crypto markets sooner than later...
Here's my purely speculative chart showing the 'Path to $100k Bitcoin' in 2023.
It would be the perfect storm of economic forces coming together, and creating an unstoppable move higher.
This scenario would be fueled by the following 3 things:
1. Hyperinflation & De-Dollarization as the World Reserve Currency
2. QE Money Printing To Pay Down US Debt & Avoid Defaulting
3. Bank Failures, Bank Runs & Transfer of Money Into Safe Assets
The BRICS nations collective GDP's have already surpassed the GDP of NATO countries, and the Yuan is poised to replace the US dollar in the coming decade as the world reserve currency.
For more on this, watch Ray Dalio's video on the 'Changing World Order' on Netflix. It's a year old, but it's already panning out as he predicted.
As the world trades in Dollars for Yuan and other gold backed currencies, inflation will go up, just like Argentina is experiencing.
And now the US is saying there's a very real risk of defaulting on our national debt, which obviously wouldn't be good.
There's even some talk of minting the 'Trillion Coin' to essentially become our own FDIC, and to save the US Treasury.
As we saw in the 2021 money post-pandemic money printing, the QE rallied risk-on markets, including and especially Bitcoin.
The Third and final piece of the tri-fecta would be more bank failures, and possibly a commercial RE meltdown as some are saying the RE market is in another bubble, like in 2008.
That's not including the commercial RE markets, which is the other shoe to drop. Sub-prime mortgages weren't the cause of the 2008 RE bubble, it was the rampant speculation and over leveraging.
That's happening now, and it's a house of cards.
So I think this is a possible scenario, and there's a non-zero chance this happens in the coming weeks and months. Worth noting.
Maybe not, but it's possible.
Once people realize their money isn't safe in banks, their retirement and wealth is dwindling due to hyperinflation, and the best option is moving their money into scarce assets, like Gold and Bitcoin...
Then it's only a matter of time.
I've also shown the fractal pattern from the 2020-2021 rally, which could be accelerated by the above even though we're not closer to the halving. Bob Loukas has also proposed this, a left skewed parabolic rise vs the normal 'Right' skewed pattern we're used to. Essentially, the big money flowing in early.
I've also showed possible Fib extensions for how we could get to $155k and $200k BTC by early 2024.
Interesting times.
