Here’s the Case for Bitcoin (BTC) Rise to $180,000, According to Weiss Ratings

[exstasie]

Of course it recovered, but the correlation with the legacy markets showed its no safe haven, as any crisis hitting them will also be hitting bitcoin.

i am still not convinced of this correlation which some people seem to have already accepted without any convincing evidence.

I'm baffled by this sort of denialism. The evidence is the correlation itself. BTC is following the stock market almost exactly:





Any divergences have been slight and generally occur when the stock markets are closed. This can all be verified with a correlation calculator too.

You can argue the markets will de-correlate but you can't argue a correlation doesn't exist.

[1715463875]

1715463875

[1715463875]

1715463875

[1715463875]

1715463875

[1715463875]

1715463875

[Wind_FURY]

Safe-haven asset? Are they delusional?
Came COVID-19 and bitcoin was the second most affected asset, losing only to flight companies.
Of course it recovered, but the correlation with the legacy markets showed its no safe haven, as any crisis hitting them will also be hitting bitcoin.
This last crisis was similar to 2008, with the difference that this time it was enforced by governments. It was the 2008 crisis which prompted the creation of bitcoin, to act as a barrier against such crisis.

Bitcoin IS a safe-haven. Society would have less dependence on their government maintaining monetary stablity because we have the fall-back. Hyperinflation in Iran, Venezuela, and Zimbabwe are examples.

[fabiorem]

The correlation of bitcoin with the stock markets shows its no different than buying stocks, so it wont give people any independence from the State. The State can just print money and use its controlled markets to pump and dump bitcoin like any other asset.

In fact, the State dont even need to have the asset, just buy and sell titles with leverage. Those controlling the printing machine, will control the price, so no safe haven here.

[Yamifoud]

I've been hopeful for the market to rally high and particularly for Bitcoin to hit for another ATH but maybe I was not a kind of very optimistic person to think that much high $180k which is something out from reality for sure. Even we wait for another decade or two, or we disregard such volatility, it for sure we can reach that price. And I don't know how people would think about investing with that price.

Though we saw an increase in numbers using Bitcoin and crypto adoption but can't be enough to push the market volume into high leading for the price to skyrocket. May $20k back again is near to possibility but not $100k plus.

[exstasie]

The correlation of bitcoin with the stock markets shows its no different than buying stocks, so it wont give people any independence from the State. The State can just print money and use its controlled markets to pump and dump bitcoin like any other asset.

That money trickles into the BTC market too. The Fed isn't buying but institutions and retail investors are.

The market is treating both stocks and BTC like risk assets, but the difference is the magnitude of potential gains. That's what Paul Tudor Jones is getting at here, and I think he's right:

Jones said holding BTC is like “owning the fastest horse” in the impending inflationary race, saying, “If I am forced to forecast, my bet is it will be bitcoin.”

“Bitcoin reminds me of gold when I first got into the business in 1976,” he said in a letter to his clients.

https://asiatimes.com/2020/05/tycoon-says-bitcoin-is-fastest-horse-in-race/

For reference, gold was trading in the $130s that year.

[okala]

Bitcoin should trade above $180,000 after this last halving but it seems the covid19 has changed the equation. Bitcoin is not going to give more return the way it was in 2017. Bitcoin has established coronation with stocks and that has affected it volatility.

[carlisle1]

I hope that Brain costume is enough for Him to predict the Future price of Bitcoin and that 180,000$ will become true soon.

but we already knew that Tons of speculation already running here from so called "Knowledgeable person" .

Bitcoin should trade above $180,000 after this last halving but it seems the covid19 has changed the equation. Bitcoin is not going to give more return the way it was in 2017. Bitcoin has established coronation with stocks and that has affected it volatility.

really?180k supposedly this year but because of COvid it did not happen?

remember that the 2017 Bull run came from the 2016 halving meaning we are just in the beginning of the halving effect right?

Don't lose hope there are so many things to come for all of us.

[whyrqa]

Bitcoin should trade above $180,000 after this last halving but it seems the covid19 has changed the equation. Bitcoin is not going to give more return the way it was in 2017. Bitcoin has established coronation with stocks and that has affected it volatility.

Despite the problems that the coronavirus pandemic causes, Bitcoin still shows good results in the cryptocurrency market. This is indicated by coinmarketcap indicators, which can be checked and compared with the time of the active phase of a panic mood all over the world. One way or another, many cryptocurrency users regard Bitcoin as a defensive asset, which increases demand and increases the price, especially against the backdrop of a decline in the value of national cryptocurrencies in countries like Venezuela, Turkey and Iran. But the statement made by Wall Street Analyst and Fundstrat Global Advisors co-founder Tom Lee, who spoke in support of Bitcoin and said that the first cryptocurrency will have the best prospects among all cryptocurrencies in 2020, is especially interesting: whenever Bitcoin breaks through the 200-day moving average, each time the asset increases in price by almost 190%.

[fabiorem]

“Bitcoin reminds me of gold when I first got into the business in 1976,” he said in a letter to his clients.

https://asiatimes.com/2020/05/tycoon-says-bitcoin-is-fastest-horse-in-race/

For reference, gold was trading in the $130s that year.

And gold now is $1770. Thats not even 20x in 50 years.

Bitcoin can reach 20x its current price in 5 years, if set loose.
I guess they are holding it on a leash, though. Notice the price never stays on five digits. It might touch it but soon it retraces back to the four digits.

[exstasie]

“Bitcoin reminds me of gold when I first got into the business in 1976,” he said in a letter to his clients.

https://asiatimes.com/2020/05/tycoon-says-bitcoin-is-fastest-horse-in-race/

For reference, gold was trading in the $130s that year.

And gold now is $1770. Thats not even 20x in 50 years.

Well I can't speak for him, but I don't think he necessarily meant to imply that BTC is limited to 13x or whatever gains over 50 years. It's more that BTC could be on a multi-decade bull run that eventually culminates in an epic blow off top.

[bbc.reporter]

Of course it recovered, but the correlation with the legacy markets showed its no safe haven, as any crisis hitting them will also be hitting bitcoin.

i am still not convinced of this correlation which some people seem to have already accepted without any convincing evidence.

I'm baffled by this sort of denialism. The evidence is the correlation itself. BTC is following the stock market almost exactly:





Any divergences have been slight and generally occur when the stock markets are closed. This can all be verified with a correlation calculator too.

You can argue the markets will de-correlate but you can't argue a correlation doesn't exist.

Agreed! Use this tool to witness bitcoin's correlation with the dow jones and other stock markets around the world. They might be more than 70% correlated, I reckon, similar to the correlation of other assets of speculation.



https://unicornbay.com/tools/asset-correlations

[Wind_FURY]

The correlation of bitcoin with the stock markets shows its no different than buying stocks,

In Bitcoin's path to price discovery, yes.

so it wont give people any independence from the State. The State can just print money and use its controlled markets to pump and dump bitcoin like any other asset.

It IS independent, The State DOESN'T control Bitcoin, but the markets are connected like Euros and Dollars.

In fact, the State dont even need to have the asset, just buy and sell titles with leverage. Those controlling the printing machine, will control the price, so no safe haven here.
 

You can't buy heroine with "leveraged titles".

[btc78]

Where is Tom Lee? Similar to him, the people in the cryptospace has not heard of the name Paul Tudor Jones before hehehe.

In any case, institutions are the most dangerous types of investors. They were the cause of the financial crisis of 2007 - 2008.


Paul Tudor Jones, hedge fund manager

never heard of the Man but of course i always admire and fond of people that says good about Bitcoin instead of those shit FUD and shills.

What he says are some kind of exaggerating but in the near future nothing is impossible specially in this Number 1 currency so lets give the man a benefit of the doubt.

and besides nothing will go wrong if we trust Him for our long term investment right?

[Reatim]

$180k is an absurd numbers to me, we can't barely goes to 5 digits without seeing any corrections. What more seeing 6 digits in the next coming years? And the market is on a cycle, boom and bust so it will be hard to achieved it without the bubble being burst, at $10k-30K per pop.

Then I believe $20,000 would also be an absurd number to you if someone told you to buy, and HODL during 2012?

Bitcoin has never crashed, and stayed under its 200-week SMA.

I already know Bitcoin back 2012 but have never had the slightest idea that it'll reach $20000 so I have no doubt when this article writes $180,000 but it's not the price it's the timeline after this halving so many things are about to happen because we have a different scenario small miners are now out of the game and many companies are adopting Cryptocurrency.

But crypto market is far different from the past,specially the effect of halving from the past.
Now we can't even move up to 5 digits ,even if we reached suddenly falling at ounce and just letting us taste the 10k$ price.

Maybe what Paul Tudor Jones POinting here is the Highest price Bitcoin will ever be in the next couple of years.
But if when this to happen is the Biggest question that everyone will be harder to imagine.

though post like this are somewhat Boosting Bitcoin Holders faith to keep the HODL.

[serjent05]

I think that $180 K is way too high. Sure there are institutions coming in but unless every single fund manager buys a large share of their portfolio with Bitcoin then I don't see that figure happening especially short term.

It is not way too high but rather wishful thinking at this moment.  I do not see BTC to reach $180k in our entire life.  Probably another century but then I am sure there is a far more advanced cryptocurrency that is created and Bitcoin will just be a part of the history/evolution of virtual currency if Bitcoin continues to stagnate on its development.

[Dollar_Hunter]

$ 180k for now is better not to be discussed, what should be discussed is how the price of Bitcoin right no?w is there a possibility of going through to another $ 10000 or going to $ 7500, analysis experts like Tom Lee should give an opinion

[Wind_FURY]

I think that $180 K is way too high. Sure there are institutions coming in but unless every single fund manager buys a large share of their portfolio with Bitcoin then I don't see that figure happening especially short term.

It is not way too high but rather wishful thinking at this moment.  I do not see BTC to reach $180k in our entire life.  Probably another century but then I am sure there is a far more advanced cryptocurrency that is created and Bitcoin will just be a part of the history/evolution of virtual currency if Bitcoin continues to stagnate on its development.

Then let's pretend it's 2012, and your friend told you that Bitcoin will reach $20,000 some day, what would you tell him? Wishful thinking?

[tbterryboy]

There is a big difference between 20k and 180k and people will always ignore that in the end. When you go from 100 dollars to 20k you are talking about a market cap increase from around 2 billion dollars to 370 billion dollars, that is a huge 368 billion dollars increase and I think many people would fail to see that, if they did we would had a lot more people selling those days (even though there was a ton already).

However when you talk about 180k, that means the price is lets say 10k right now, it means market cap going from 1.85 billion dollars to 3.315 trillion dollars. TRILLION , as in 1000 billion. If you think they are the same thing you are kidding yourself, there is no world going from 100 dollars to 20k dollars is similar to going from 10k to 180k, the amount required is nowhere near the same, we are talking about 10x times bigger.

[peter0425]

$ 180k for now is better not to be discussed, what should be discussed is how the price of Bitcoin right no?w is there a possibility of going through to another $ 10000 or going to $ 7500, analysis experts like Tom Lee should give an opinion

This is a must to discuss mate because don't forget that we are only waiting for the Bull that brings by the Bitcoin halving last may.

But for those who has no amount to risk as investment then the story is different,because all of Holders are the one that has a possibilities of making money at this point because of the ability and capacity to wait.

[7788bitcoin]

Then let's pretend it's 2012, and your friend told you that Bitcoin will reach $20,000 some day, what would you tell him? Wishful thinking?

If we predicted that the price would reach $1000 during 2012 everyone would laugh and say that you are crazy let alone $20000 but to reach a valuation much above the present all time high valuation it will take a much longer period of time. We saw a massive rally because the entire market was new and funds houses and billionaires were investing in the hype and that lifted the price to the levels we see now but to reach hundred thousand i wont be surprised if we need to wait for a decade.