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1882: “Bitcoin Could Hit $1,700,000 by Year-End Following 2017 Cycle”
00:34:38
The peak in the cycle would then occur around October of this year at 11,000% higher, putting a cycle top of around $1.7 million per Bitcoin.
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JV
This episode is brought to you by Indeed. We're driven by the search for better, but when it comes to hiring, the best way to search for a candidate isn't to search at all. Don't search. Match with Indeed. Use Indeed for scheduling, screening and messaging so you can connect with candidates faster. Listeners of this show will get a $75 sponsored job credit to get your jobs more visibility@ Indeed.com SBO terms and conditions apply. Welcome crypto fam to number one daily Bitcoin pod we're pumping back in the green just recaptured $105,000 in today's show. I'll be sharing the latest technical analysis quoting Max Kaiser is generally understood that a Bitcoin ETF is not bitcoin, so it's important for people to understand that a wrapped bitcoin is not bitcoin either. Preach. We'll also be discussing bitcoin mining save Texas 18 billion boosting their grid stability as well as the latest Trump and Millennia Melania tokens crashing the hardest as the meme coins continue to bleed. We'll also be discussing micro Strategy bought an additional 11,000 BTC the week before Trump's inauguration, which they just officially announced. We'll also be discussing the latest from el Salvador buying another 12 Bitcoin for the country's reserve despite the recent IMF deal. We'll also be Discussing Bitcoin can cross 1 million hit as high as 1.7 million this year if this continues to follow cycle according to Van Stratton. Also the CEO of Coinbase, Brian Armstrong just said in an interview, I think over time we'll see bitcoin get into the millions, multiple millions price range. Send it in today's show, we'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube YouTube channel at cryptonewsalerts.net again, that's crypto news alerts.net today is spot episode 1882. I'm your host JV and today is January 21, 2025. Second day of our new POTUS in office. You know, I mean, some would say very disappointed. First day, no mention of bitcoin or crypto, no freeing of Ross Albrecht, which we're all excited about. That dude has been in prison for 11 years. But we'll touch upon that a little later and go from there. Welco. Everyone let's kick it off with our market watches we do each and every day, seven days a week. As you can see Bitcoin back in the green baby above 1054 as ether XRP in the majority of the alts correcting. And in the red checking out coinmarketcap.com Current crypto market cap sits at $3.62 trillion. The Bitcoin market cap sitting almost at 2.1 trillion. We have roughly 250 billion worth of volume for the past 24 hours, meaning volume down 32% on the day. Bitcoin dominance has been on the rise. This we're currently at 57.6%. Ether dominance was all the way down to 10% the other day. Today it's 11.1%. Things aren't looking so great for ether but checking out top 100 crypto gainers past 24 hours we got AI16Z. I take it it's a meme coin. I see a girl with big breast assist up 22% followed by hype followed by Sonic. I've never really heard of these ones but nonetheless let me know which al if any you're bullish on. For the bull. And checking out the crypto bubbles we get a visual perspective on safe to say 70 of the market actually in the green maybe 60 with 40 in the red. Checking out for the monthly similar scenario. Ah heck, I'd say that close to 50 50. There are some big gainers which are some of the memes but overall a lot of the alts have corrected in the past 30 days. And checking out the crypto greed and fear index we're 76 today, same as yesterday, extreme greed. Last week 63 and last month at 73 in greed. And checking out the time chain calendar. I forgot to pull her up. Here we are. Let's get the latest right here. It shows we're on block height 880235 and you currently exchange one fiat monopoly dollar for 948sats to stack the stats. Put down the gats and pick up the bitcoin caps from sergio@bitcoincaps.net and let's get it. Welcome everyone joining us. Let's continue with the astrology for the Broskis, shall we? We'll also be pulling up the live char line here reads bitcoin fully gassed to leave 100k bitcoin price behind. And a reminder yesterday morning we tapped a new all time high meaning the price discovery is currently sitting at 1093. We're roughly a few grand away. So yeah, here you're looking at the one hour chart and again I'll be pulling up the live charts here, so stay tuned. So Trading View showed sellers keeping up the pressure on the six figure bitcoin price boundary. Inauguration Day offered plenty of volatility. Yeah, I'd say that again. We actually rose from like 99 to 109 within I think eight or ten hours. Crazy. That's a God candle by the way. So as you can see here, longs thus suffered on the day liquidating 500 million bitcoin is targeting the nearest liquidity on both sides, trading platform High Block Capital wrote, and we can expect more extreme volatility. Imagine what's possible when learning doesn't get in the way of life At Capella University. Our game changing flexpath learning format lets you set your own deadline so you can learn at a time and pace that works for you. It's an education you can tailor to your schedule. That means you don't have to put your life on hold to pursue your professional goals. Instead, enjoy learning your way and earn your degree without missing a beat. A different future is closer than you think with Capella University. Learn more@capella.edu quoting them here, I take along from 99.5 if offered. I think gray box needs to hold for the local bullishness and sweeping all the Trump lead up news PA makes sense according to Crypto Crypto Chase. He also says I'd also accept a sweep a sweep of the 97 low, but that's the farthest it should go. Any good amount of time spent past 9697 and my plan is ready is likely off and in ve low 90s aiming for the new all time highs. And again we hit the high 90s the other day and then we just surged all the way to 109 current price discovery. Another analyst here wrote December highs, December lows define the key range for me. Acceptance out of either side most likely resolves in a trend. For now the market will keep both the bulls and the bears of speculating, but in truth it is just another range. That's where my focus remains. Let me know your thoughts on that Bitcoin. Quite the daily candle here tapped the 10 simple moving average, then went to new all time highs and then back below resistance on this 10 simple moving average trajectory. It will have to decide by Friday to either break back upwards or lose the 10 simple moving average. And quoting a check here as covered back in late November the thesis was we likely had several weeks of chop solidation before properly trending away from the hundred thousand level. We are there. So there you go. And I read you this earlier just a reminder. It is understood that Bitcoin ETF is not the same as bitcoin and therefore it's important people understand wrapped Bitcoin is not bitcoin either. That's coming directly from the High priest Max Kaiser himself. And with that being shared again. Welcome y'all to the live stream. Another historic day in the markets. Yesterday we touched the all time high. We're less than 4, 000 away from price discovery. Let me know when you feel we'll likely hit it and let's pull up some of the live charts which I promise for you guys. Let's start with the one hour and then we'll work our way backwards. Here's a live one hour chart via Trading view via Coinbase. You can see the last three hours have been bullish with green candle prints which is awesome. We did already touch a low today of like. Let me actually open the app to get you the exact numbers here. The low on the day is 100,051. So 100000 is the low and 1065 is the high. And we're currently above 1056 and we're trending upwards which is definitely a bullish indicator that we love to see. And zooming out from the one hour, check out the four hour. And the four hour says we're going up forever. Laura, we do have a target in the orange sitting pretty at 130,000. Shout out to my angels in the orange. 130 GS in play. Let me know when you feel we'll hit that target. And zooming out from the four hour, we'll check out the one day. The one day chart shows us bullish green candle obviously for the day thus far we have a rising wedge formation overall. Yesterday was crazy volatility. You, I mean whip sawing up and down probably, you know, I mean liquidating a lot of the longs and shorts as the market makers love to do. And zooming out from the daily, we check out the weekly. We still have the sexy cup and handle target which has been on our screen for a long time at 124,000. I believe this to be in play 124 to 130 here in Q1. I don't have a exact date because I don't have a crystal ball in front of me. But nonetheless, let me know your thoughts. And zooming out from the weekly, take quick look at the monthly and as you can see already forming a nice green candle for the month of January here in 2025. December was an itty bitty red corrective and November was the biggest green candle we've ever seen since the inception of the Genesis block. And there you have it. Crypto fam Next story of the day. This is in the headlines here. Bitcoin mining saved Texas $18 billion BO the grid stability shout out all my Texans out there. I actually met quite a few folks living in Texas, including some awesome OG miners who were kind enough to invite me to their facility. They're like anytime you're in Houston, JV Hala will give you the VIP treatment the tour of the facility. So there's a lot of miners clearly in Texas and they're doing big things. A new research report by Digital Asset Research Institute revealed how bitcoin mining impacted the Texas electoral grid electrical grid, saving the state as much as 18 billion by eliminating the need for new gas peer plants. That's a win. The findings come as Texas grapple with extreme weather conditions in the recent years, including a 2021 winter storm that caused widespread blackouts and significant economic losses. Historically, grid operators have relied on gas peaker plants to address peak electricity demand and while effective in short bursts, these plants are costly, remain idle for much of the year and emit substantial greenhouse gases. Now dari's report shows the bitcoin mining offers more efficient alternative to gas peaker plants via deem response programs where bitcoin miners can quickly reduce energy consumption during peak demand and stabilize the grid. The dairy report stated that the Electric Reliability Council of Texas, known as ercot, sought alternatives to traditional gas peer plants following the devastation of the 2021 winter storm and determining that bitcoin mining could help balance electricity demand and supply to prevent further blackouts. Ecot's demand response programs have seen voluntarily or vol voluntary participation by the bitcoin miners. Ecot's demand response to the programs voluntary voluntarily reduced the energy usage during the peak demand. This approach eliminated the need for Berkshire Hathway Energy proposed $10 billion investment in new gas peaker plants. Take that Mr. Warren Buffett. Yeah, I mean, which would have further increased electricity costs for the Texans. Gas peaker plants have been criticized for inefficiencies and their contribution to the greenhouse gases while sitting idle for most of the year, releasing hundreds of thousands of tons of carbon dioxide into the atmosphere every year. Accordingly, the DARI report Bitcoin mining offers a cleaner, more cost effective solution where miners operate continuously and generate revenue while remaining able to reduce the energy consumption when needed during the peak demand, which is a win win Cheaper Energy and Clean Energy despite the advantages of the bitcoin mining, the industry faces resistance from the corporate and political entities such as lobbying by Berkshire Hathaway, Warren Buffett's company. Go figure. The guy who once called Bitcoin rat poison square. The report highlighted that some lawmakers in Texas have questioned the role of bitcoin mining as an alternative to gas peaker plants. It sounds like they have a monopoly on the oil energy and they don't want the bitty clean free energy in or you know, the cheaper energy. Clearly they're trying to protect their monopoly. Proponents of bitcoin mining such as US Senator Ted Cruz in an exclusive interview describe Texas as an oasis for bitcoin due to its lowcost and business friendly environment. Cruz said that Texas is known for its abundant low cost energy and that he intends to ensure the trend of more jobs in Texas continues and accelerates while the state increases it's bitcoin mining activity. So there you have it. Respect my authority, my fat Cartman voice. But let's continue with the news fam. We still got a lot to share. Let's discuss the Trump coin and Melania coin which is on everyone's mind right now. Crazy, right? Headline here reads Trump Melania Tokens crash the hardest. Not surprised as meme coins bleed. That's right. Trump family meme coins were amongst the worst performing cryptos over the last 24 hours, wiping out a significant part of the gains made during the Trump Fuel rally in the run up to his inauguration January 20th. That was yesterday. The meme coin of Trump official Trump slid 50% after the President made no crypto related day one executive orders. The token peaked above 78 bucks January 19th. I bet you that's where a lot of people bought in and then dropped to $37 following the inauguration. Down 30% over the last 24 hours. And then we had the first lady Melania Trump's newly launched meme coin Melania Coin Melania meme Melania has fallen 70% from his peak to trade below 5 bucks. An ironic cabbage hands Dave Portnoy. He claims he lost 200000 buying Melania coin. You can't make this up. It's crazy. But anyways, ethereum based meme coin Pepe has declined by 11 over the past 24 hours. One meme coin bucking the downtrend is doge and that's probably because Elon just launched a website for their department of government efficiency with the Doge logo on it of the DOG, which always pumps dogecoin. So why do the people in power only pumping coins? Are you guys starting to see the bigger picture? They're shitcoiners. Change my mind. Convince me otherwise. Elon Musk is a shitcoiner. Has been since he started pumping Doge. And he's been an enemy at Bitcoin. There's a reason Max and Stacy went on the Elon tour, but I'll leave it at that. And now we have a president who's straight up creating meme coins out of thin air, which people are going to continue to get wrecked on and you can't. We're living in a simulation, folks, that come to my conclusion. The sharp drop in Trump and Melania token prices is also accompanied by a steep drop in the market cap. Trump's market cap, which reached 20 billion to feature among the top 15 cryptos overnight, now sits at 7 1/2 billion, 65 below his January 18 peak. Melania's market cap also fell to 819 million after reaching a high at 2.2 billion on January 20. It gives me the same vibes as the hog to a coin. She reached the 500 million market cap practically within hours of launch and then it crashed and went to zero. The only difference is Melania and Trump, you know, being the first lady in the potus, they're not going anywhere. They can't just disappear like the hawk to a girl. But nonetheless, it's not a good look, in my humble opinion. In fact, I think it makes makes the industry look bad. But what are your thoughts? Let me know, I'll read them out loud here shortly. This has seen the total market cap of the meme coin sector shrink to reach a seven day low of 102 billion as of January 21st today. The last time the Meme coin market cap sat at 102 billion level was Jan 15. The aggregate market value of cryptos in the sector is down 12% of the past 24 hours. The total trading volume across the Meme coin sector nearly halved over the same period, indicating the intensity of the selling pressure over the past 24 hours. Trump and Melania tokens were heavily traded with 25 billion. Good Lord. Goes to show you how much money people really have. It's like they have $25 billion collectively to throw on some shit coin to do some gambling respectively over the last 24 hours. This indicates high selling intensity for these meme coins as profit book and continued additional Data shows overall buying volumes for these tokens. We're stalling in line for the prices on the Moonshot trading app app, which was amongst the first to offer the Trump to retail traders. For example, Trump buying volumes on the app dropped from an average of 6 million on January 18th to 19th to below 1 million January 21st, according to Dunes Dashboard. But there you have it. Yo, let me know your honest thoughts with meme coins. I'll keep it 100. I've never invested in a meme coin. I don't really ever plan on doing so. I'm all in on bitcoin, but that's just me. Let me know your thoughts. So yeah, let's discuss MicroStrategy made another purchase, another acquisition El Salvador made another acquisition and then we'll discuss this 1.7 million prediction. I'll share with you a model as well as the latest from Brian Armstrong, Coinbase CEO projecting multi multiple million dollar biddy price but this headline reads MicroStrategy bought 11, 000 Bitcoin the week before Trump's inauguration. Let's go. That's pretty awesome. MicroStrategy officially disclosed its latest Bitcoin purchase costing 1.1 billion in cash at an average price of 101g. The purchase, that's each bitcoin. Obviously the purchase was made during the period between the 13th and the 20th, the week before the inauguration of Trump. Similar to the previous microstrategy bitcoin buys, the purchases were made using the proceeds from the issuance of the sales and shares under the convertible notes sales agreement. And following the latest buy, MicroStrategy now holds 461000 Bitcoin which the company acquired for a total of 29.3 billion at an average price of 63,000,600. Micro Strategy Co Founder shared on X and this is the actual Tweet. Micro strategy acquired 11,000 Bitcoin and you already know that number is divine. 11 baby at 1.1 billion. Remove the decimal, it's another 11. That's an 1111 at 101,000 per biddy and achieved a Bitcoin yield of 1.69 year to date. 2025 as of January 20th, the inauguration day, we hodle 461,000 Bitcoin acquired for 2019 billion at 63, 000 per Bitcoin and it's cool to see the 1.1 billion. It just is another omen that my 1.1 million prediction may come into fruition. Remove the decimal, we got on 11 baby but you already know and in other tweets here. MicroStrategy shareholders vote to increase the total number of shares to buy more bitcoin. So expect their acquisitions to increase. This is breaking news. MicroStrategy shareholders are set to vote on increasing authorized class A common shares and 330 million to 10.3 billion. The plan includes raising 2 billion via preferred stock to fuel its bitcoin buying. With sailor controlling 47% of the votes. Another divine omen 4/7 is 11. Analysts expect the proposal to pass. I'm just loving all the 11s in the air today. It's a beautiful sign. But back here, Sailor previously hinted a potential to buy on January 19, which usually signals the impending bitcoin purchase the next day. Like clockwork work, the new 11,000bitties purchase is the third acquisition by MicroStrategy in January already and its largest buy thus far this year. The company has already bought 14, 600 of the biddy this year. I'm only 21 days deep. So with the purchase, MicroStrategy achieved a Bitcoin yield of 1.69% year to date. Sailor backs the U S Bitcoin reserve the inauguration of Trump yesterday has fueled expectations of a strategic bitcoin reserve being established in the U. S. And although Trump's first day in office ended without any mention of crypto, industry observers say it's only a matter of time before the President makes it a priority. And according to the bed in market kelsey, there's a 66% chance Trump follows through on this campaign promise and creates a national bitcoin reserve this year. Let me know if you agree. Disagree. Now, it's no surprise that Sailor supports the idea. Back in December, MicroStrategy founder proposed a digital asset framework for the US including acquiring and holding bitcoin as strength in the country's financial position. Quoting Sailor here. A strategic digital asset policy can strengthen the US dollar, neutralize the national debt and position America as the global leader of the 21st century digital economy. Sailor said his proposal could generate between 16 trillion to $81 trillion worth of wealth for the U. S Treasury as the price of bitcoin continues to appreciate AKA pre little bitty going up. So there you go yo. Next story of the day family. Here's the latest from Bukele in El Salvador and as you know I spent a weekend bitcoin country. I went to the max and Stacy invit a blast. I can't speak high enough about this incredible country, but here we go. El Salvador buys another 12 Bitcoin for the country's reserve despite the IMF deal. FD IMF we're not selling. El Salvador bought 12 Bitcoin for its reserve for the past day despite the earlier deal with the IMF to dial back the crypto policies. January 19, the country's National Bitcoin Office said it bought another 11 bitcoins.000a for a strategic bitcoin reserve worth over a million. Also purchased one Bitcoin January 20th for 106, 000. The Bitcoin office's portfolio tracker shows El Salvador's holdings stand at 6,044 Bitcoin worth nearly 610 million. With a crypto now trading. Actually we're even higher because right now we're trading at 106 and less than 3, 000 away from price discovery fam Bitcoin briefly surged above 109 yesterday. 1093 current all time high Bitcoin's new high came hours before Trump was sworn in as the 47th president. And Bukele's government struck a 1.4 billion financing agreement with the IMF last month in which it agreed to wind down some of its bitcoin activities. As part of the deal, some of the changes made by the country included making private sector acceptance of bitcoin voluntary, which it always has been. So really nothing changed there family and unwinding government involvement in the Shivo crypto wallet. I've also had heard that a lot of the people there don't recommend it but I saw people using it and loving it. So it's like mixed vibes. Some people like it, some people don't. But the bigger picture. There's alternative options, there's competition, there's plenty of lightning bitcoin wallets one can use. I was using Exodus out there. Strike is also out there. Highly recommended. They have their headquarters in El Salvador. So a lot of options. And one thing about Shivo I also learned is they eat the fees. So there's zero fees when sending funds. Funds using the Shivo wallet which I found pretty awesome. But anyways. However the day after making that deal El Salvador bought 1 million worth of the biddy National Bitcoin office director Stacy Herbert and an exposed of that country's bitcoin plans had not changed exactly. So don't buy into the FUD family. In September of 2021, El Salvador became the first country of the world to adopt bitcoin as a legal tender following the announcement of the new bitcoin law. And according to NIG Buelle himself in the portfolio tracker. El Salvador's bitcoin stockpile had a profit 179 million as of yesterday. An October survey of salvadorians found that 92% don't make transactions using the biddy, an increase from a 2023 survey that found 88 of them did not use crypto for transactions. Again, of course it's, it's voluntary. You don't, no one's forcing you to do it. El Salvador isn't the only country that has made serious moves to accumulate more of the biddy. The South Asian country of Bhutan, the kingdom itself has been quietly mining biddy for years. In September, blockchain analytics firm ARCAM revealed that Bhutan held 780 million of the digital assets, meaning Bhutan holds more than El Salvador. Crazy right? Now for our featured story. Bitcoin can cross 1 million this year, hit a high of 1.7 million if it continues to follow the 2017 cycle, according to Van Stratton. Let's break this baby down. Also, I wanted to share a couple of tweets. Coinbase CEO Brian Armstrong was just interviewed on Squawk Box and quoting them here word for word word. I think over time we will see Bitcoin get into the millions, multiple millions price range. Pretty low bitty going up. Act accordingly. He also CEO of America's largest Bitcoin exchange, Brian Armstrong tells the World Economic Forum audience, it is clear at this point Bitcoin is a better form of money than gold for a store of value. It is important governments hold bitcoin over time. Stockpile thy bitty establish the strategic Bitcoin reserve. What are we waiting for? There's nothing more important gentlemen, except Free and Ross. Two things which haven't been done yet. But I digress. Let's break this down. The FTS collapse may seem like a distant memory. When Bitcoin fell to around 15 GS back in November of 2022, the sentiment during the period was extreme fear and the industry never thought it would recover. Well, idiots never thought it would recover. Can't say that here we've been bullish even through the entire bear. But anyways, just over two years later, Bitcoin's now trading above a hundred thousand, one hundred and six thousand as of today. The new all time high was achieved yesterday on inauguration Day at 109 3. Trump is now officially the 47th president of the United States of America, however, has yet to announce any crypto policies. One of the many discussions around Bitcoin is the four year cycle analysis structured around the Having program. Yeah, every year we or every four years we get the having. We got it last year and that was back in April. In the year preceding the having we always had hit the cycle peak. So the having cut supply every four years. We tend to see similar cycles play out with huge price appreciation the year after the having. Precisely. While this current cycle continues to mirror the previous two cycles. And let me know if you witnessed those cycles so far. Bitcoin's up around 550% from the cycle lows during the FTX collapse. The chart shows that at this point in the current cycle, between the 2015 and 2018 cycles, Bitcoin's price price was also up around a similar amount from the cycle low that occurred January 14th of 2015. It's important to note that glass no data takes the closing price of the day, which can differ from other trading platforms. And then the green line shows that during the 2018, 2022 cycle, at this point in the cycle, Bitcoin was up 1300% over double the gain that token has charted till now. So if bitcoin continues to track the 2015-2018 cycle, it would finish at around 1100 percent higher from the cycle low at the end of quarter one of this year, putting one bitcoin at 186000 per coin. The peak in the cycle would then occur around October of this year at 11000 higher, putting a cycle top of 1.7 million per biddy. Let me know if you agree. Disagree. That's very advantageous prediction but nonetheless that's what the charts say. And there are many other ways to compare this with the previous cycle, such as comparing it with U. S Presidential administrations. According to a post on X by the bitcoin archive, Bitcoin went up 20x during the Trump's first term as president and a return of just 10x would put Bitcoin at a million from here it's just basic math and that's why I love bitcoin. At around a hundred thousand we go up 1%, it's a thousand dollar gain. We go up 10%, it's a ten thousand dollar gain. We go up ten X, we're talking a millie, right? We go up 100X. Good Lord, somebody pinch me right now. It's going up forever. Laura, JB is hitting it hard every day for his channel and for us. The least we can do is hit the like and huddle on. Brothers. Thank you. Powered by bitcoin. Greatly appreciate it. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q and A. And I look forward to seeing you on tomorrow's episode. Hoddle.