Will Bitcoin Hit $1 Million per coin? Crypto MUST Do This to Succeed

We’re taking a look at Bitcoin’s path to one million dollars. This is a huge claim that’s put out in the crypto space. So, we want to find out. If it is actually possible for Bitcoin to reach a million dollars and, of course. Follow the journey along to Bitcoin, becoming a world reserve asset, just like gold. There’s going to be a lot of trouble along the way. But, of course, we want to try and iron those out.

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So, let’s figure out what crypto can do to succeed in the short term. The problems that we’ll face in the short term as well. Especially, with a volatile year. What we could expect over the coming years for Bitcoin to reach this million dollars that’s a 25 times return on the price of Bitcoin, which is currently 40 000.

Emotional Challenges to 1m$

To begin with, the path to one million dollars is not going to be straightforward. Most of us can appreciate that’s just not how investing works. At this point, there are going to be a lot of fears and greed thrown at us along the journey. As an example, just over the last 48 hours, we’ve seen bitcoin drop into a fake-out and then regain a reasonable support zone. In this case, 40 600 dollars. So, that’s just in the last 48 hours. We’re going to go through many of these sorts of fake-outs, retests of support and resistance, sustained up moves that could last days weeks (sometimes even months). Then just to see the market give all of it back and that’s going to drive us from our huge greed to not take profits into our huge fear. We’d taken profits just those few weeks ago, so we’re going to overcome these emotions in a market, which we can see over hours days weeks. It happens all the time then that’s going to allow us to hold in for the longer-term gains for our long-term portfolio. In this case, looking at Bitcoin reaching a million bucks the fear.

Market Sentiment: Best Times to Buy to $1m

Let`s take a look and answer the question: what’s going on in the market? As we can see, the market’s still sitting around fear. If we take a longer-term outlook just look at the max. We can see during the periods of extreme fear, have been some of the great times to buy Bitcoin and during the extreme greed is either good times to not be buying Bitcoin, or selling some of that BTC, or even some of our cryptos to take some gains back to. Then buy back in the dips, so just to repeat that again. It could be a good time to not be buying and, eventually, selling because as we could see from 2020 and 2021. There was extreme greed happening in December of 2020, but the market had nowhere near reached its peak. It was only sitting around 19 to 20 000 that peak didn’t come until February, March and April. We could still see there was some extreme greed in February and then that greed started to subside before it crashed into extreme fear.

Why Not Just Buy and Hold

These times can be great for not buying as good signals. Then also selling some of that pot is now the common question that comes out of. That is why don’t you just buy and hold for the whole journey. If you think it’s going to go to a million dollars, the simple answer is that there are some good swings to be played along the way now. The swings are much easier in all coins because you have much bigger booms and then the busts happen to be 70 80 90 sometimes more than 90 percent. There are some massive fantastic swings to be had and now if you only have limited funds and you want to increase your bitcoin supply, then there’s going to be good opportunities to not buy and then other good opportunities to be buying more and, of course, again. We need to have opportunities to sell some of that cryptocurrency and then buy back at the fear. So, once that can be established into a plan that works for you then that’s going to give you a much bigger advantage of just buying and holding, and hoping that it does go to a million bucks. The other benefit to taking profits is to protect your capital, if you want to have a risk-free portfolio, you’re going to need to take some of those profits out. So, that you can recover the cost of the capital. You’ve put into the market, this is how I set up my altcoin portfolio I talk more about that on Patreon.

Can Bitcoin Actually 25X??

Once you’ve made enough profits you’ve got your initial capital back, and that gives you the opportunity to get back into the market with that initial capital put it to work somewhere else. A 25x might seem like it’s a little far-fetched. But as we can see from December 2018 to the current top in 2021 in November. It’s basically been a 22x return, so 2100. So, it’s not too far out of the question but I just think it’s going to take a lot more time than people are expecting, not only is the time required, but Bitcoin needs to break some correlations in the market. If it is going to succeed in hitting a million dollars. So, although, I’m talking about a lot of Opium.

The Challenge Ahead

So, we’re going to continue to follow up with what’s going on here and how this relates to bitcoin and Ethereum, and cryptocurrencies, of course. But if we get a bit of an idea of where this market could fall to. Looking at the market sentiment, our emotions, and having a plan. Then this can give us a better idea of where we might be interested in, setting up a position for the longer haul to increase our multiple return on that Bitcoin. On the other hand, Ethereum stash leading up to those higher prices of potentially massive hopium figure of a million dollars per BTC that doesn’t guarantee that the Nasdaq drops to 11 or 12 000 points where I can be wrong will be – if the market breaks back above these 15 000 to 15 and 500 points on the Nasdaq. You can see this is this has been a significant resistance level at the moment should the market break back above and close above these levels probably within 2022. Then it would look like, we’re in the clear, we’re not going to fall to those lower levels, and the market’s ready to move higher. So, I’ve got to take positions on both sides because there is no guarantee and crystal ball. There’s only just forecasting and we have to have an idea of the probabilities of each direction happening. The downside and the upside now for more fundamental points looking at inflation. The fed and most other major central banks are currently engaged in a Kabuki theatrical performance of fighting inflation.

Many times before the goal is not to actually fight inflation but to appear to fight inflation, so that domestic politicians can survive an angry populist that works more, but can afford less. So, essentially, the politicians don’t need to actually do anything apart from look. They’re doing something and, so if we’re trying to fight inflation then the central banks must start tightening some more and potentially increasing those interest rates. So, this is then going to put pressure on the tech and the speculation again, potentially driving the prices down, so a lot of this fundamental analysis is leading to that same sort of picture potentially again in 2022. One final thought is that many crypto market pundits believe the worst is over. As for others it believes they ignore the inconvenient truth that the crypto capital markets are currently just 24 7 enqueues – essentially just futures contracts on CME. As they’re an indicator and do not trade on the real fundamentals of being peer-to-peer decentralized census censorship-resistant digital networks, designed for the transfer of money. So, this is being seen with the correlation in the NASDAQ. It’s essentially just showing that it’s a 24.7 indicator of the futures markets of the NASDAQ. We can clearly see from the chart of gold that it’s in a very different structure to that of the NASDAQ. So, looking at the NASDAQ again this is just basically shot up from those lows of 2008, whereas gold has not really done too much since its peaks of 2011. After it did have a short rise from 2008 to 2011. We’ve basically just surpassed the highs of 2011. So, the point is that Bitcoin needs to decouple from technology and the tech sector. It needs to go more in line with gold, if it is to become a world reserve asset now. It does have some time to do that definitely has plenty of time to do that. It’s an early industry it’s 13 years old for bitcoin whereas gold. We know is obviously thousands of years old although Bitcoin has a very strong case to reach a million dollars, BTC is obviously going to come with a lot of patience and a lot of understanding of market sentiment, our emotions and, of course, sticking to a plan it’s got. Its problems set out for it it’s very correlated to the Nasdaq along with Ethereum and other cryptocurrencies. It needs to move more towards gold and that is of gold’s market movements while the fed tightens interest rates.

The rest of the stock market starts to decline overall. I’ve got high hopes for bitcoin over the next three to five years will it reach a million dollars in that time frame. If we continue to see higher lows being formed on Bitcoin. Then it sets the stage for Bitcoin to become decoupled from the Nasdaq and start to move more in sync with something like gold but until that time comes. I’ll continue to take my profits on cryptos and start to store them away in other cryptos and, of course, real estate you can find out more about how I trade and invest in real estate.

This article is a transcription of a video made by Jasson Pizzino

Original video:  https://youtu.be/pcHJYI-MWkc