Bitcoin is $115,000 per coin. What happens now? What happens next?

00:01 Hey everyone. Bitcoin is $115,000 per 00:04 coin, up from as low as $108,000 per 00:07 coin two days ago, but the last two 00:10 days, uh, yesterday essentially popped 00:12 it up to 112, and today it was above 116 00:15 for a little while, and right now it's 00:16 just under 116,000 at 115,700 00:20 as I record this. So, what happens next? 00:23 Well, the longer Bitcoin has been 00:25 chopping around absorbing a new price 00:27 level, the quicker it rises when it does 00:30 rise. And we've spent about 7 months, 00:32 mostly bouncing around between 100 and 00:35 $110,000 per coin. So, yes, we did drop 00:38 very temporarily into the '9s. A number 00:41 of months back, we dropped very shortly 00:43 into the 80s and then the 70s, but most 00:46 of the last 7 months has been, you know, 00:48 in the 100 to $110,000 range. And the 00:52 longer we're in that range, the higher 00:54 we can go when it's time to break out of 00:56 that because the higher percentage of 00:58 the total Bitcoin is held by people who 01:01 want to be in that range and higher than 01:03 that range rather than people that own a 01:05 lot of Bitcoin at a lot cheaper prices 01:07 than that and are looking to get off the 01:09 bus. So the longer we've been in a 01:11 range, typically the more fuel we have 01:14 in the tank, as James Czech would say, 01:16 to go higher because all that chopping 01:19 around has gotten as many people on the 01:21 bus and off the bus that want to be on 01:23 the bus or off the bus. So also, these 01:26 runs usually happen in more than just 01:28 two days. Uh the reason for that is the 01:31 first time Bitcoin's price starts to 01:32 take off, people start taking notice, 01:34 but it usually takes them a couple days 01:36 to move funds around. For example, if 01:38 you're doing wire transfers, often those 01:40 take 24 hours. Uh, just moving stuff 01:42 around in the traditional financial 01:44 system takes a couple days. So, 01:46 typically when you start getting a run 01:47 like this, you start getting some fear 01:49 of missing out, FOMO. And people start 01:51 realizing that they're missing out on 01:53 Bitcoin, which is they are. And so, they 01:55 move things around. And so, usually 01:57 rallies like this last at least three or 01:59 four days, if not, you know, five or 02:01 more. And usually you don't top out at a 02:04 price that's just modestly higher than 02:07 where you started. You typically top out 02:09 uh before a little breather at a price 02:12 more significantly above where we 02:13 currently are. So my prediction is that 02:16 over the next two or three days the 02:20 price will climb above $120,000, 02:23 potentially $125,000. 02:25 And then at some point, maybe it's now, 02:27 maybe it's in a couple days, we will 02:29 take a breather as everybody who owns 02:31 Bitcoin digests what it's like to have 02:34 that much Bitcoin at that price level, 02:36 which of course will involve some people 02:38 who are now feeling wealthy and want to 02:40 liquidate some of their Bitcoin, even 02:42 though mostly that makes no sense. 02:44 Unless, of course, you're improving the 02:45 life of you or your family, in which 02:47 case that is the point of money, 02:48 including Bitcoin. So, uh, we'll spend 02:51 some time digesting this price level and 02:53 then I anticipate we will go higher. Um, 02:56 now we could get a radical sort of shoot 02:58 for the stars sort of thing going. Uh, 03:00 although that's less likely, it's more 03:02 likely that we grind up to somewhere 03:04 between$125 and $130,000 per coin. And 03:08 then it takes us a series of days, 03:09 weeks, or months to digest that new 03:12 price level as people get on and off the 03:14 elevator at that price level before we 03:17 have all the right people that want to 03:18 be on the elevator between $125 and 03:21 $130,000 and are anticipating that it 03:24 goes up. At which time once all the 03:26 people that could possibly want to 03:28 liquidate Bitcoin, you know, above 03:30 $125,000 per coin, once all of them 03:33 finally have, then we march higher. And 03:36 of course at some point we could get a 03:37 more significant dip of 30%. Or 03:40 something like that. Although it does 03:41 not feel likely because we spent so much 03:43 time 7 months chopping around at uh 03:47 prices that are barely below where we 03:49 are. Uh it just seems like uh a major 03:52 correction is not in the cards and all 03:54 of the ones that we have had such as the 03:58 attacks on Iran that caused a dip of 04:01 Bitcoin I think to 98 or $99,000 but it 04:05 lasted like a matter of hours. So it's I 04:08 hardly call it a dip if you're you know 04:10 if you only have to endure it for a 04:12 series of hours. Uh but anyway, so 04:14 that's what I think is going to happen. 04:14 And I think the next couple days, couple 04:17 few days is going to be exciting and 04:18 then it'll be boring for a little while 04:20 and then it'll be exciting again. 04:22 Welcome to investing. That is how it 04:24 works. Um, you know, days of thrill 04:27 interspersed with months and years of 04:29 boredom that ultimately results in you 04:31 having way more money at the end. But 04:34 after having to expend way more patience 04:36 than you thought you were going to have 04:38 to. That is the nature of investing is 04:40 it requires way more patience. As uh one 04:44 famous investor said, the money is all 04:46 made in the waiting, not in the buying 04:48 and selling. The money is all made in 04:49 the waiting. And the waiting is the hard 04:51 part. And that's the part people don't 04:52 like, but it's an inevitable part of 04:54 investing. So enjoy the ride.