Bitcoin Is Going to $100,000!
People are calling the new science on raising kids “parenting without saying no.”
According to my expert on the subject (my wife), we shouldn’t ever tell our toddler “no,” “don’t” or “stop.”
Even when she’s headed for the wall with a purple crayon. Or waltzing into Dad’s office unattended while his laptop is open.
It’s better to redirect her creative urges away from the wall to a blank piece of paper.
Or, better yet, parents should be proactive to ensure there isn’t a reason to use the word “no.”
Sometimes this can be as easy as hiding the TV remote (before she does). Or making sure an easily breakable pair of Ray-Ban sunglasses are out of reach.
By doing it this way, the word “no” becomes more effective when you actually need it.
And sometimes telling a toddler “no” just produces more of the same behavior.
Even telling adults they can’t have something seems to increase their demand.
When Americans fear more stringent gun restrictions, gun sales go up.
When you warn people not to hoard toilet paper, the shelves at the grocery store will be empty.
In the same vein, politicians and bankers are warning us about cryptos.
And you know what this means…
Bitcoin is going to $100,000!
All Great Investments Arise From Controversy
The world’s largest cryptocurrency has been in the news a lot these days.
A few weeks ago, China cracked down on crypto investors (again).
U.S. Treasury Secretary Janet Yellen is concerned terrorists could use cryptos for funding.
Even the world’s greatest banker, Jamie Dimon, is back on the crypto attack.
The JPMorgan Chase CEO said he thinks bitcoin is “worthless.”
That comment comes a few years after he called it a “fraud” and a “scam.”
For the record, if you bought bitcoin when Dimon called it a fraud in September 2017, you’d be up 1,274%.
Sure, there are a ton of negative headlines surrounding bitcoin these days. It’s quite controversial.
But all great investments arise from controversy.
For the price of any investment to go up, doubters need to convert to believers.
Do you remember how many doubted tech companies like Amazon, Apple and Tesla?
Most of them are believers now.
A Break to New All-Time Highs Looks Imminent
Sometimes the best course of action is to forget about the short-term noise. Focus on what really matters.
The way to see that more investors are coming around to bitcoin is a bullish trend in the long-term chart.
I want to see a line that’s steadily moving higher from left to right.
To do this, I look at a chart of bitcoin that goes all the way back to 2012.
Back then, it was trading around $5 and wasn’t even on Jamie Dimon’s radar.
In the chart below, prices on the Y-axis are on a logarithmic scale. This means the distance between $5 and $10 is the same as the distance between $5,000 and $10,000.
It’s the best way to look at any volatile investment. That’s because it shows a better perspective on the longer-term trend.
Bitcoin Is Steadily Moving Higher
By looking at this chart, a break to new all-time highs in bitcoin looks imminent.
If that happens, the fear of missing out will carry bitcoin to $100,000 or higher over the next few months.
Even a toddler could see this.
Editor, Strategic Fortunes
P.S. Bitcoin isn’t the only crypto headed to new all-time highs. You can learn about “Crypto’s Third Wave” by watching my brand-new presentation.
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My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.