Bitcoin RIPS through 30k! Why a 100k BTC in 2021 isn't farfetched.

Bitcoin rips past 30k.

This morning I woke up to check on my trading positions and saw that Bitcoin had surpassed 30k and was currently trading in the $32,000's. After going through the night with no electricity, this brought me a lot of joy! 😁

This had me thinking. A lot of people have been speculating that the $30k BTC would be the top of an inevitable pullback.

Not going to lie, I thought the same as well. And who really knows? We could have a pullback from $33k right now and the people speculating would have only been off my a small margin.

But, whenever that pullback does come, it is just the beginning of the larger bull market. Let's take a look at some interesting graphics I found in an article on Nasdaq.com of all places.

Is the halving priced in?

In this graphic we can see the average price and growth after the previous two halvings.

We are 219 days into the 3rd and according to previous trends, it really hasn't been priced in yet.

If it follows the average of the previous two, by October Bitcoin would be worth roughly $286k!

Just because we saw this kind of growth in the past, doesn't mean it's guaranteed now. Nonetheless, it's interesting data to visualize.

BTC Value in Context

This graphic shows what the relative price of Bitcoin would be if it had the market cap of shown companies/assets.

Also interesting to consider since Bitcoin is still very young.

It's market cap is still below major tech companies like Google, Amazon, and Microsoft. But, we have to remember, this isn't a stock. It's a currency.

If we were to see BTC hit the market cap of gold, the price would be roughly $600k!

BTC vs Gold vs SP500

This graphic is pretty self explanatory. It shows the growth of Bitcoin compared to Gold and the SP500 over the last year.

And this graphic clearly shows the incredible growth BTC has seen compared to the other 2 assets.

Why 100k?

Do the math.

You can do the math. I can do the math. Michael Saylor can do the math. That means the smart money can do the math, too.

Just looking at the Grayscale Bitcoin trust inflow over the past year is enough to convince you that smaller institutional investors, family offices and high-net-worth individuals have already started to increase their exposure.

We can also add to that a few big hedge funds, such as those run by Paul Tudor Jones and Stanley Druckenmiller. Plus the additions to PayPal, Square, Robinhood, and many other financial service companies.

And don’t forget publicly-traded companies such as MicroStrategy and Square, which are investing in bitcoin as a treasury asset.

All of this leads me to believe that a 100k Bitcoin is actually not to far off in the future.

We are just at the beginning of the next big run. So buckle up and play it smart! There will be large pullbacks that will hurt people. But, even bigger gains.

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