I COMPLETELY Disagree With BitBoy Crypto. Bitcoin Is NOT Going To $100,000 By Mid-October!
I am going to be talking about why i dont think were going to be going to 100 000 in the next six weeks. You guys know my friend ben armstrong from the bitboy crypto youtube channel is under the impression that bitcoin going gon na be trading at a hundred thousand dollars within the next month and a half or so, and i have very much disagreed with him on that point. For the last two months, or so, and in this video im gon na break down exactly why i disagree with him why im almost certain that were not going to be at a hundred thousand dollars within the next month? If im wrong, i will put my hands up and say it, but i dont think im gon na be im gon na break down my reasoning in this video and then ill. Let you decide in the comment section down below is jeb right or has been right. Lets go ahead and jump on to the chart. Now ben has many times said that he expects that bitcoin is going to hit a hundred thousand dollars before the end of september. However, he has also, in fairness, said a few times that it may take a few more weeks than that, so i have drawn a vertical line at october 15th. That is a couple of weeks past the end of september, which was his original deadline for a 100 000 price target. Ive also put a flat level of resistance up here at 100 000.
So you can see the intersection of 100k on october, the 15th and 100 000 now lets do some historical analysis here now lets go ahead and look at what it would take to get to 100 000 in the next 30 days or so for us to get To 100 000 in the next 30 days, bitcoin would have to more than double in valuation, meaning that we would have to add 800 billion dollars in market capitalization in just under four weeks now we have doubled in this time period before, as you can see here From december the 12th all the way through the 9th of january bitcoin rallied 148 and in just the span of 28 days, we went from 17 500 to 43 300. And if we look at the historical analysis of cryptocurrency markets, it makes a lot of sense to say that bitcoin can move this quickly. However, theres one very important caveat: we have never ever doubled from forty five thousand dollars to one hundred thousand dollars before its never happened. Weve never seen that much market capitalization added that quickly in the history of bitcoin. It has never once happened, and i dont think it ever will again. To be quite frank, i think it would be very, very difficult for 750 billion dollars to be added that quickly now theres another thing that ben talks about ben talks about quite a bit, how theres deflation incoming and how theres also a lot of anxiety around the Current um thing thats going on that i cant talk about because i might get censored on youtube.
I understand that, but i will also point out that, during the peak of the thing going on right now that i cant talk about back in january, bitcoin was in the middle of rallying from right around 10 000 in october, all the way, through february to 60 Thousand dollars rally 500 142 days. I think bitcoin could go to 100 000 in the next 142 days. I actually think it will. I just dont think its going to happen in the next 30 days. We saw the biggest case numbers during that time back in january and february. If you go and look at any of the metrics thats when this was the worst, you know what im talking about. Bitcoin was moonshotting during that time now. Another argument is that the federal reserve might be ceasing all of their printing and quantitative easing pretty soon thats very true, but i will also point out that quantitative, easing or qe the act of the government printing money takes several months to make an impact. This is not something that is going to happen overnight. This is something that, if happens today, might have effects three four months from now, but its not going to have an overnight effect other than the fact that people might freak out and sell and cause a stock market crash. That is possible, but i dont think that would cause a gigantic run on bitcoin, followed by a crash down to 15 000. I dont think were ever going to see 15 dollars again thats another point of uh disagreeance between my friend ben and i, by the way, whenever i disagree with ben people, think we hate each other were very good friends.
Dont get that twisted. We always think its funny whenever people think we hate each other. Nevertheless, another reason i dont think bitcoin is going to a 100 000 before october. The 16th has to do with the chart. So lets take a look here at the chart. Remember i talked about how bitcoin rallied 142 in the span of 28 days that happened in december moving through january. Well, take a quick look at what the market looked like pre. That rally bitcoin was in a major uptrend. It was increasing in price action very quickly. In fact, if we take off the log chart here, we were going parabolic at the time we were rallying very very quickly at the moment. Bitcoin is not going parabolic. Instead, bitcoin had a massive correction and a massive dump. Instead of going parabolic where we start flat and then we start going even faster to the upside, we are rallying very quickly to the upside and now were slowing down in what looks like around the top. Bitcoin looks much more like may of 2021 than november of 2020.. That is another reason why i dont think were gon na be at a hundred thousand dollars in the next four weeks. But i wan na hear your opinion down in the comments, because this is one of the biggest debates going on in cryptocurrency. Right now is bens position that were gon na be at 100k in the next four weeks. In my position that were not going to be at 100k in the next four weeks to be very clear, i love bitboy crypto.
I think it is a channel that you should subscribe to. They got some great content ben. I know him personally now he is a good guy behind screen hes the same guy as he is all the time. Hes, not a weird hes, not you know, trying to pull your leg or anything hes, making good content. I like ben. I do disagree with him on this point and its the 21st century, and people seem to have forgotten that you can still be friends and disagree with people. We are friends, but i do disagree with them ben. I would love to hear your response to this. If you want to outline in a video over on your channel, why you do think its going to 100 000 and why im wrong? I will be more than happy to admit that i was wrong if we hit 100k ive been wrong in the past ill be wrong in the future, but ill be honest. My friend, i dont think im gon na be wrong on this one we shall see, but i am curious to see what you think in the comment section down below. Tell me down below. Am i going to be right or is ben going to be? Right? Is bitcoin going to be at 100 000 in 30 days, or do you agree with me that its going to be 100 000, but its going to take more like six months? I want to hear what you think make sure to hit that like button and subscribe to the youtube channel.
If you havent already were one of the fastest growing analysis channels on youtube and you should subscribe because we bring you technical analysis every single day with integrity and humility thats, what we try to bring anyway so make sure you hit that subscribe button. If you havent already anyway guys, i look forward to seeing you on coffee and crypto tomorrow, make sure to tune in for that. We got a really special guest, none other than ben himself. So maybe hell have a response to this then, but thats. All i got for you before i go. I do just first want to thank each and every single last one of you for watching. As always – and i will see you guys in the next video peace, Music, Music and by the way for anyone in the comments who may say because im predicting this is going to happen by misrepresenting bens opinion, i dont think i am.