Podcast Summary: The Wolf Of All Streets – "Bitcoin To $146,000? Real Bitcoin Bull Market Hasn't Started Yet | Mike Alfred"
Release Date: July 23, 2025
In this insightful episode of "The Wolf Of All Streets," host Scott Melker engages in a deep conversation with Bitcoin strategist Mike Alfred. The discussion delves into the future trajectory of Bitcoin, its market dynamics, investment strategies, and the evolving landscape of cryptocurrency beyond Bitcoin. The following summary captures the essence of their comprehensive dialogue.
1. Bitcoin Price Forecast and Market Sentiment
Scott Melker opens the episode by probing the possibility of Bitcoin reaching the $146,000 mark. He emphasizes that while $146,000 is a significant psychological milestone, the real focus should be on the broader bull market potential driven by institutional interest despite subdued retail enthusiasm.
Notable Quote:
Scott Melker [00:01]: "Is bitcoin headed to $146,000? Not the specific number that I think we all agree is somewhat inevitable on the path to much higher prices."
Mike Alfred concurs, suggesting that $146,000 is not only achievable but also sets the stage for even higher valuations.
Notable Quote:
Mike Alfred [01:01]: "Yep. Key level for the quants and the likely next. Yeah, it's the next major breakout level."
2. Technical Analysis: Key Support and Resistance Levels
The conversation transitions to technical analysis, where both hosts discuss critical price levels that could influence Bitcoin's movement. They highlight the significance of the $118,000 level as a pivotal point for breaking into higher price territories.
Notable Quote:
Mike Alfred [01:41]: "115 to 117 is sort of like the area we want to stay above in the short term. And then 118 is kind of like that power level where if we can hold that level for even just another couple days and work off whatever sell pressure there is."
Alfred projects a steady ascent to $130 by mid-August, potentially reaching $140 and $146 within the next two months, with further possibilities extending into the year-end range of $175,000 to $250,000.
3. Market Cycles and Investor Behavior
Mike Alfred provides a retrospective analysis of Bitcoin's price movements over the past two and a half years, emphasizing the challenging "sequence of returns" that has tested investor patience. He illustrates how rapid rallies followed by consolidations and minor retracements have often frustrated both retail and professional investors.
Notable Quote:
Mike Alfred [03:19]: "The path and sort of the sequence of returns here is the frustrating part... Basically, the path to confuse and confound and frustrate the maximum number of people."
He warns that this pattern is likely to repeat, leading up to a significant bullish breakout that could propel Bitcoin into a parabolic rise, rewarding late investors who remain steadfast.
4. Institutional vs. Retail Interest in Bitcoin
Discussing the disparity between institutional and retail interest, the hosts explore how institutional players are accumulating Bitcoin, potentially setting the stage for substantial price increases. Mike Alfred highlights that institutional strategies, such as those employed by Bitcoin treasury companies and miners, are crucial for sustained growth.
Notable Quote:
Mike Alfred [09:23]: "Because you have so much power on a balance sheet, especially in the long term... All of this stuff is about to gain so much more interest."
5. Investment Strategies: Holding vs. Trading
The dialogue shifts to investment strategies, where Mike Alfred advocates for a long-term holding approach over active trading. He criticizes the volatile market behavior that often leads traders to make reactive decisions, emphasizing the benefits of holding Bitcoin through its inevitable upward trajectory.
Notable Quote:
Mike Alfred [10:08]: "If you don't understand what it is fundamentally, then you'll trade it like it's corn or sugar or wheat."
Scott Melker reinforces this viewpoint by suggesting that the best trading strategy might be to trade not at all, recommending a straightforward buy-and-hold strategy for Bitcoin investors.
6. Bitcoin Treasury Companies and Mining Operations
A significant portion of the conversation focuses on Bitcoin treasury companies and mining operations. Mike Alfred discusses the competitive advantages of companies like Iron, which have secured substantial mining capacity and power resources. He contrasts these with firms that attempt to purchase Bitcoin directly through securities markets, arguing that infrastructure-focused companies possess a more sustainable edge.
Notable Quote:
Mike Alfred [16:09]: "They secured that land and power cheap when it was still available. Now, you effectively can't recreate these assets."
He warns investors to scrutinize the fundamentals of treasury companies, as many may lack sustainable competitive advantages beyond their Bitcoin holdings.
7. The Role of Ethereum and Other Altcoins
Beyond Bitcoin, the hosts explore the performance and potential of Ethereum (ETH) and other altcoins. Mike Alfred shares his experience with Ethereum, noting its significant appreciation since 2020 and discussing its role as a supplementary investment rather than a direct competitor to Bitcoin.
Notable Quote:
Mike Alfred [17:24]: "I view it as like a VC style speculation. I don't view it as a competitor to Bitcoin."
He anticipates Ethereum reaching $6,000 to $10,000 by the end of the current cycle, fueled by institutional interest and its intrinsic value within the broader crypto ecosystem.
8. Recent Market Events and Future Predictions
The conversation touches on recent market events, including notable spikes in mining companies like Cipher and Iron. Mike Alfred speculates on potential deals with major tech companies (hyperscalers) and predicts explosive growth for these mining firms as Bitcoin approaches the $150,000 mark.
Notable Quote:
Mike Alfred [26:59]: "I expect some fireworks. Hyperscaler direct deals... combined with a move towards 150k bitcoin, you have a really explosive setup for companies like Cypher and Iron."
9. Concluding Insights and Final Thoughts
As the episode wraps up, both hosts reiterate their bullish outlook on Bitcoin's future, emphasizing the importance of foundational strengths over speculative trading. They encourage listeners to adopt a long-term perspective, highlighting the vast potential for wealth generation as Bitcoin continues its upward trajectory.
Notable Quote:
Mike Alfred [22:35]: "Everything's going to go up. You don't want to get too cute with these kind of relative value arbitrage trades."
Scott Melker thanks Mike Alfred for his valuable insights, underscoring the significance of informed investment strategies in navigating the volatile cryptocurrency landscape.
Final Thoughts
This episode of "The Wolf Of All Streets" offers a comprehensive analysis of Bitcoin's potential to surge to unprecedented heights. Through detailed technical analysis, historical context, and strategic investment advice, Scott Melker and Mike Alfred provide listeners with a nuanced understanding of the factors driving Bitcoin's bullish prospects. Whether you're a seasoned investor or new to the crypto space, the discussion offers valuable perspectives on harnessing Bitcoin's growth trajectory while navigating market complexities.