 Bitcoin to 100,000 by years in if you like price prediction videos, you might like this video however before we get to the end I gotta tell you I'm gonna have to give you a little dose of reality and put your feet back on the ground So I Like price prediction just as much as everybody they're great for hoping and everything else And I know some people said hoping is just is just wrong and shouldn't be look hoping is what gets us through Let's be honest. We've had a pretty brutal last year and we're just kind of emerging from that So let's allow ourselves to dream a little bit, but not get crazy So this was an article from coin desk and it says price of Bitcoin made 100k by year-end from standard charter bank So I'm thinking myself. This is great. I in 2023 I'm gonna be loaded because Bitcoin's going up so high and I'm not gonna read you this entire article because it's wrong What it really comes down to is this this is from Reuters And I took a look the source material and this is what the analyst actually said Bitcoin could 100k by the end of 2024 Standard Chartered says before we go on who's standard Charter? Well, standard Charter is a bank Located in the UK one of the oldest banks out there history of over 160 years in the UK It's regulated by the prudential regulation authority financial conduct authority and is one of the UK's largest banks I was not aware of that because I am in the States London serves as the headquarters for the Europe and America's business Focus on facilitating business across Asia Africa in the Middle East next question probably asking you is who cares? How big are they? Great question. So I had to pull out their Sampling report from 2022 and their total operating income was around 16 billion 16.2 billion to be exact and For reference to see how big that would compare it to say J.P. Morgan one of the largest banks in the world J.P. Morgan has an annual operating income for 2022 was 46 billion so 46 billion 16 billion Now it's a couple billion among friends, right? So we can say it's a little bit of credibility So here's what the analyst states first they state that the so-called crypto winter is over Bitcoin and the reason for that is multiple factors first of all recent turmoil in the banking sector Stabilization of risk assets as the US Federal Reserve ends its interest rate hiking cycle debatable I think we're gonna go up next month Senator Charter's head of digital asset research Jeff Kendrick said in a note this while sources of uncertainty remain We think the pathway to a hundred thousand dollars per Bitcoin level is becoming clear And that's pretty much it So that's a great one and we can just stop there and we can go home and say great hundred thousand by 2024 I'm fantastic, but let me just give you a little dose of reality, which is this Price predictions are worthless. I must admit to you They are and no one really knows has a crystal ball might I remind you that? Most of these predictions are incorrect and here's one as for a little history lesson City Bank, I think it's the 11th largest bank in the world that analyst said in November 2020 that Bitcoin can go as high as 318,000 by the end of 2022 and it actually closed out at 16 5 and then to take it on a little memory lane John McCaffey in 2017 said Bitcoin go to a million by 2020. I don't think that happened Tom Lee of some fun strat said that Bitcoin go to 25,000 by 2018. I don't think it went above I mean, I don't think it hits lows like 5,000 Tim Draper one of the Largest investors out there said that Bitcoin would go to 250,000 by 2022 still waiting next Kaiser Who's everybody loves? I'm sure he'll be at Bitcoin Miami in 2018 said that Bitcoin would go to $100,000 in 2018 there by being Tom Lee's Paltry price prediction 25,000 and then Bobby Lee came back and said okay Well, how about half a million by 2028 again all these things are great And they give a little hope but they're kind of ridiculous and let's not forget me. I Am out there too in 2020 2021. I believed that Bitcoin would go to 150,000 by the end of 2021. I was totally wrong on that one. I'll take the hit to that So the only thing I like to say is this Price predictions are great. You're gonna see a lot of them out there But just take it with a grain of salt I think that we are in the right place at the right time and I also believe that I don't really care what's gonna happen at this year or the end of next year I have a big believe in the four-year cycles and we talked about this yesterday Why I'm not selling in May and going away like the old adage says I think we've got a lot of room to run over the years So it always happens like this having all-time high dip reset happened in 2012 1314 15 Happened again in 2016. There was a Bitcoin having no we had an all-time high then we had a massive dip, you know when Max Kaiser and Funstrat gentlemen said 25,000 a thousand. Well, we hit 3232 then there's a reset in 2019 Bobby Leo was and then we had a having in 2020 all time in 2021 We had a massive dip in a reset and now 2024 around March or April. We'll have another Bitcoin having Hopefully an all-time high and then everything will go down again in a dip and a reset for your cycles are still in play And that's why I think we got a lot of room to run Anyhow, let me think about that in the comment section, of course Let me know one of your most craziest price predictions for Bitcoin over the years because those are the ones that I could find But I forget a lot of things next up The mooch so this was a pretty good piece I'd recommend you listen to it links in the description where Anthony scaramucci From Skybridge Capital says that Gary Gensler and Elizabeth Warren are in cahoots, which I think we know that he said both of them Are working together to stifle crypto's progress and innovation in the United States I gotta tell you I agree with them wholeheartedly and I can tell you why he's probably not too happy right now And it's something that he said on my show Which was his allocation to Algorand this is about a minute or so just take a listen This is from Dan teaches crypto 100% free websites. Go ahead and sign up. Take a listen to this I think you're gonna be rewarded But certainly you can't look at it every day, you know, it's up today. It was down over two weeks That's how it works in the Bitcoin marketplace of the cryptocurrency marketplace But over three to five years, I think we're gonna be very well rewarded Rob for what we're doing yeah, and I agree and So Anthony first of all, thanks for coming on really appreciate it. Also. Thank you for introducing me to Algorand I did a deep dive video, which I'll be releasing pretty soon. I think that's one of those sleepers I think that's one of the things that your clients would be very happy that they invested in A quarter billion dollars in Algorand right now. I think I think Algorand will be the Google I'll just say this quickly, you know, you and I when we were young youngsters We were logging on to the internet using Alta Vista. We were using Lycos America online even Prodigy if you can remember that Oh, yeah, and then low and behold in 1998 this company came along called Google and people are like, well Why the hell do I need that? I've got all of these other instruments to access the internet and then people said well You know, it's faster. It has machine learning the algorithms are more widespread. It's going to lead to better outcomes and low and behold Google trumped everybody and I think that's going to happen with Algorand I think wow a quarter of a billion dollars So I can understand why the mooch is not too happy with Gary Ginzer and his trusty sidekick Pocahontas and I will just say this The reason of course is because SEC labels out Algorand five of the tokens and securities in the Bittrick's lawsuit So I can totally understand that but hey, that's what we get when we let The crazies rule the roost. So let me know what you think about that little piece then finally just to follow up Celsius failed crypto owner Celsius auction attracts Earrington and Gemini So this is actually could be a good story. But again, there's a story behind the story so Celsius Joining an earlier bid by Nova Wolf digital management to manage a restructured version of the bankruptcy crypto company are Fahrenheit LLC consortium backed by tech crunching founder Michael Earrington and blockchain recovery investment committee backed by Gemini trust run by the Winklevoss twins when I first saw Fahrenheit LLC I thought that was the same company that Celsius was trying to restructure called Kelvin So I was a little bit off there But yeah, this is a totally different Michael Earrington and Fahrenheit and when it talks about Gemini trust from of the Winklevoss twins That is not Gemini the exchange and I tweeted this out and I just asked some people I trust Let's just Tiffany Fong and Aaron Bennett Simon Dixon and Tiffany says I chat with someone from the Fahrenheit team yesterday I'll try to post it later and Simon says they would simply be the custodians for distributing crypto This is comes back from dollar clown says hey Tiff Please see if you can clear up just how involved coinbase and Gemini are there was reports that both were auctioning or being probably auction I'm getting a strong vibe. They are not Simon says no the plan sponsor would have a custody account with them for Distribution I'll be the part with Gemini and Coinbase not financial legal advice. So there you go So things are looking up and it sounds fantastic But it's just gonna be a little bit the longer ways to run and of course the details matter and lastly I will say this There was there was a great piece Last week tonight with John Oliver and he went over some different things about Celsius Luna I think it was actually an old video not anything recent But I said, you know what if you want to laugh and cry watch this I said Alex Mishinsky and Celsius sent the entire industry back years And that was the pretty much the darkest thing you could you could say about it But then there was one quote from banana sats and I got to give it up He says I think he set the industry back, but on the bright side self-custodial Bitcoin forward I think over time this will continue to be the trend and that's really what it comes down to There's a lot of things that are out there that just don't really add up and not really good But you have to find those silver linings and I gotta tell you that is just one of the things I think moving forward how many of us are going to remember this the ones who were here right now And we'll never trust those types of entities and we'll do a lot of self-custy Which is what the ethos of crypto is supposed to be even I got blindsided by it because I let myself get fooled I think moving forward. This will be the way the thing only question is How will the newer people react and will they actually listen to us the ones that have come before time will tell That's it for today. So look like today's video and give it a thumbs up consider subscribing This industry is not a set and forget it It would behoove you to subscribe at least to somebody just keep yourself up to date. That's all we got anyhow Thanks so much for stopping by. I appreciate you. I'll see you on the next one