I am not trying to be a hero and compete with people on the Internet for who has the highest price target on Bitcoin. When it was trading at $2,570 on the 3rd of July I came out with a $50,000 price target. Bitcoin is now trading at $15,140. On a split-adjusted basis, if you held on to Bitcoin Cash, Bitcoin Gold and (10X) Bitcoin Diamond, the spin-off coins, you are now sitting on more than $17,000 and a gain of more than 500%.
If you got in when I gave you the recommendation in July you can sell 15% and ride the remainder as that (85%) is now house money you are playing with. If Bitcoin ever goes to zero you can’t tell me that you lost money. If you want to (still) sit on everything … that is on you.
Even though my public price target is $50,000, I have already had individual one-on-one conversations with hundreds of people in recent months who signed up for my service, where I told them that the end game here is Bitcoin becoming the number one most valuable currency in the World that would put the valuation at $6-$7 trillion dollars ~25X where we are today.
Coincidentally that is where both Gold and the Chinese currency are valued today. In my view, gold should not be valued at 25X what Bitcoin is trading at (255 billion dollars). I do not know how much gold there is in the ground … I do know how much Bitcoin there is. I also know we are a couple of years away from being in a situation where hundreds of millions of people around the world are trying to get their hands on a few million Bitcoin.
The supply is capped — unlike the US dollar where all the government needs to do is turn on a printing press every time more currency is needed. That is why the US dollar has dropped by 75% in the last 50 years and that is why Bitcoin has jumped by 500% in the last five months. We are in the early stages of this long game with only 1% penetration worldwide. I expect we will hit 2.0%-2.5% in 2018 and 3.0%-4.0% by 2019.
I expect this is going to top 5% by 2020 and that will be what drives Bitcoin towards a multi-billion dollar valuation and a coin price between $300,000 and $400,000 by ~2022. Bitcoin is already one of the top 20 currencies in the world versus more than 190 currencies! As I mentioned earlier my target for next year is now $28,000. We are already topping $17,000 on a split-adjusted basis.
As I have been doing for the last five months, every few weeks I evaluate what the most recent headlines were and adjust my price target to reflect those (mainly positive) headlines and the fact that dominoes and obstacles in Bitcoin’s way continue to drop.
Most of you remember what Buster Douglas did to Mike Tyson … what Facebook did to myspace.com … what the compact disc did to the vinyl record and the cassette … what Uber has done to the taxis … what Amazon did to Barnes & Noble … and what the iPhone did to BlackBerry.
There are many examples in history where someone got knocked off the top of the mountain, and there is no guarantee that Bitcoin will remain at the top of the mountain — that is why you want to be diversified across at least one-dozen of the alternative currencies. There are more than 1,000 cryptocurrencies. I have already recommended five of them … and all five have jumped by between 100% and 300%.
We currently have 200 trillion dollars in the world tied up in stocks, cash, bonds, and gold — that is $25,000 for every man, woman and child … all four of those being overvalued. If 2% of that 200 trillion dollars ends up in crypto, we end up with afour trillion dollar value valuation for the space — that today is valued at 400 billion dollars. We hit that 400 billion dollar milestone overnight up from $88 billion when I wrote my bullish 122-page crypto report in July.
If Bitcoin maintains its 63% market share, the price would hit $150,000. A bullish scenario would see us there within 12-18 months, while a more conservative scenario would have us getting there in 3-5 years. Bitcoin has already jumped by more than 2000% percent in the last twelve months. All we need is a 10X gain from here in 2018 in order to reach $150,000.
I tend to be on the conservative side, as opposed to some other people in the space, who have more aggressive price targets. As I have been doing three times a week, I comb through dozens of the most highly regarded financial news websites and pull out headlines that jump off the page for me from each site so that my subscribers do not have to do that work on their own.