Long time Commodities trader says Bitcoin will break $100k, it's just a matter of when
There is no "if" according to long time commodities trader Peter Brandt.
The cat is out of the bag, the genie is out of the lamp, and the train has left the proverbial station.
According to Mr. Brandt, bitcoin will very likely break $100k at some point, it's just a matter of timing really.
It will either happen within the next year or two, or we may have to wait several years, and that decision is very likely to be made shortly.
Bitcoin is currently at a major inflection point
According to Brandt, bitcoin is at a major inflection point right now.
One that will determine how soon we see $100k.
On the bullish side, he sees this:
(Source: https://bitcoinist.com/bitcoin-road-to-100k-peter-brandt-explains-the-when-and-how/)
Where bitcoin doesn't break the multi year channel to the downside and very shortly starts moving back up towards the upper end of this channel.
This scenario could have bitcoin seeing new highs as soon as middle of next year.
This would be the best case scenario and one that could predict $100k within the next 2 years.
The bearish outcome would prolong things just a bit...
And that may look something like this according to Brandt:
(Source: https://bitcoinist.com/bitcoin-road-to-100k-peter-brandt-explains-the-when-and-how/)
Where bitcoin violates that multi year channel to the downside, causing major capitulation among bulls.
This would likely cause bitcoin to bottom out sometime middle of next year in the $5k area according to Brandt.
After that though, he also believes it will start turning back up and continue its longer term march towards $100k.
Six in one, half dozen in the other
So, there you have it...
We are getting to $100k either way according to Brandt, it's just a matter of whether that happens within the next 2 years or perhaps the next 3-4.
I'm ok with either one personally, it just has to happen. :)
Stay informed my friends.
-Doc
I would say 40k USD is realistic, but 100k USD takes more than a wish... There is so much going on in cryptocurrency industry that no-one will know what happens to exchanges... If exchanges go down one by one, it means there will be no use for BTC anymore and the value will collapse. In the end we might see less than 10 exchanges still having BTC as main pair and rest using some other cryptocurrency. It all depends on how long the small exchanges survive without adopting KYC and AML conforming registration process.
I imagine soon they all will. There seems to be a global AML task force that seems to be trying to get everyone to comply.
AML alone is not a problem... It's how exchanges implement their procedures to comply with both KYC and AML together. Basically AML only requires setting maximum transfer amount and most CryptoNote coins already have that.
I love Peter and share his love of big picture analysis. So if he says price will move in a certain direction over time, it holds weight with me.
He generally has been pretty good with his macro calls.