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🔵 Crypto Skeptic vs Crypto Bull – I Bet my Friend that Bitcoin will Reach $100,000 by Jan 1, 2021

This debate started off as a bet between friends. Chris bet me that Bitcoin would not surpass $100,000 by January 2021. Afterward, we continued debating about crypto. We began to record our responses and rebuttals to each other’s statements as videos. These videos were not originally intended to be shared.

This current video is just one of many that were recorded. The remainder will be released at some future date as a compilation of our entire discussion.

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Disclaimer: This video is not financial or investment advice. Do not buy, sell or trade cryptocurrency, or make any financial decisions based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.

#bitcoin #btc #crypto #cryptocurrency #news #blockchain #tokens #coins #price

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⚡Colin Talks Crypto⚡

💜 EOS donation address/account name: colintcrypto
💜 Ethereum (ETH) address: 0x5b90414Aeb115f910698304E63C2C3092739c9c0
💜 Bitcoin Cash (BCH) address: qpzc3apy9s8x2qtlqxxgnalfxtzgnkg5nq352w9k2t
💜 Bitcoin (BTC) address: 1Da6ivdriJpzqnLkNEa1XnKk5nGCiyRZrF

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💗 Twitter: (@ColinTCrypto)
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VIDEO TRANSCRIPT

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  1. Right now is the 2nd best time to buy, there is a fair bit of negativity out there right now, if you don’t have a position I think now is a good time to start dollar cost as averaging in. It took a hash war (black swan) event last time to cause the crash to 3k. We will need something like that to bring it down to 3k again. Without a black swan I can see 4.5k-5k lows. Also, there is a lot of bitcoin maximalism at the moment, it seems a bit overdone, and some decent alts have been forgotten, there is opportunity there.

  2. How do I know for sure that an asteroid does not wipe us out? How do I know that aliens don't come down and kill us all? If you assume not tail risk (outlying events) bitcoin is 100x better than what we are using right now. It's fast, no chargebacks, anonymous enough for most, it allows you to escape with nothing but words with all your wealth and you don't need a bank to increase its value!!!!

  3. Colin you’re true to the bitcoin ethos. I respect that you see through the bs and still supports bitcoin cash knowing that a fork needs to survive to keep bitcoin in check. And bitcoin cash is a great blockchain anyway.

  4. Colin, I have an honest question here, which is a foundational question, the filter through which Chris might operate. You know I have real estate etc and am in that market for 30 yrs so it is a sincere question, also knowing I used to be a huge statist, before I woke up. Is Chris a statist?? Does he realize that government is a manufactured scam yet like the money policy/systems?

    Because I know when I was like that, before I did all the research and activism, and only "trusted" all these corrupt legacy systems — I never believed in crypto either. I was such a bootlicker LOL.

    You know me well enough that you know I am not being mean or trolly, I took the time to think about this and then write. Maybe my comments might even help him. Once I realized how corrupt the system was and then got in their collective faces, sure I was targeted badly — but I also know it woke others up. Ask my corrupt mayors and city hall / council here LOL I was literally threatened with physical harm at times.

  5. It will take until 2030 for bitcoin to just get to 30k. It has not been able to get back 20k. For something that is meant to store value it's not doing a very good job.

  6. I definitely think 2021 is a good call, I just talked about in my video that our weekly and monthly time frames still look like we are in for some downward movement

  7. Interesting!! I made a similar "dinner bet" with my nephew. It was his idea. I'm the bull in the bet and he's the bear, just like you. So far, I am losing the bet.

    Back on the 21st, I called that bottom prediction for the market based on my alleged "mathematical model." The prediction fell thru and the price of Bitcoin, as well as the basis of the model in terms of a conceived number value not related to price, plummeted far lower than I believed it would. It was the first such wrong prediction I've made since initially conceiving the predictive model in February of this year.

    The thing is, though, that I had already accounted for that disparity in the model despite never having seen it in action. I fully believed in what I recognized as a "danger zone" for the model, assuming that if (or when) the model traversed into a given range, that it would be disastrous for the market.

    The basis of that modeling is what I believe triggered the 2017 collapse, although I can't prove it, since I hadn't developed the model back then and there's no way to back-test the numbers that would have been showing up in 2017. So I don't believe in such notions as the timing of the CME futures launch having been the true catalyst for the 2017 collapse, although the timing of the two was certainly unique.

    In a nutshell, I believed that I would ultimately see my mathematical model make a transgression into the alleged "danger zone" that I'm referring to here, but I honestly didn't think it would happen this soon. The model is currently entrenched into that zone with no immediate indication of it pulling back out.

    So this turn of events to view my math model has caused me to turn bearish. There is one other non-published indicator I know to reference which has proven 100% accurate multiple times now in foreshadowing a massive price drop. So far, however, this indicator has ONLY reared its ugly head following a large price rally. I saw it come into view following both the June 26th rise to $13.7K, as well as the October 25th rise to just over $10K.

    The only consolation here (for me anyway) is that the indicator is still resting dormant. I don't expect anyway to see again until following another large price rally assuming that consideration continues to hold true. But if the indicator came into view right now, for instance, then I would fully expect a further decline in Bitcoin to likely the $5K range or lower.

    Generally speaking, therefore, I am hopeful to see one more good rally taking place before the end of the year assuming this noted secondary indicator has one final move left in it. If it does, then I'm still confident I can call the top of the market and I will sell all my Bitcoins at that point.

    I'm not confident at all right now for seeing a good outcome in the price of Bitcoin going into 2020. And based on where I'm seeing the "danger zone" sitting for my math model, I don't believe the 2020 halving event is likely to do the price of Bitcoin any good in that case…

  8. Nice one oColin. Very balanced. But, it’s all about in getting ahead of the curve early. This is a major opportunity! I hope you win the bet. It means we all win. We are with you.

  9. 20k ATH again early/spring 2021, then a small retrace, then whales will play us all for FOMO towards end of 2021 on spot and futures with the odd small and big moves, it'll be nothing like 2017/18, but we'll see 100-200k, 200k will be the new 20k.

  10. I like this bet and to see that it is a simple bet and not losing thousands on gambling between friends. True, the winner should pay. What a bitter meal for the loser though(especially if you are the winner and your friend decided not to invest in Btc) I believe bitcoin will reach min 100,000$ by the end of 2021 then if it reaches it before even better lol. Investing in bitcoin is a great opportunity, I agree

  11. Crypto may be the future but how can privately created form of money be officially adopted in the world against central bank issued digital currencies in the future? Those in power obviously wants to maintain it. They can regulate and prohibit businesses from accepting bitcoin in most countries with central bank issued fiat is? I love bitcoin and what it tries to accomplish though

  12. I'm not sure I buy the "we are so early" narrative any more. We are 11 YEARS into bitcoin…. and it's at 1/3 the price it was 2 years ago and less and less usage due to small blocks – which has also hampered adoption of everything else since it's so complicated for noobs to use. We are told that crypto has all these great minds in it – but is this true? Why is it still so hard to use and not scaled after 11 years? What technology actually goes backwards in adoption over the last 5 years? There aren't any. Bitcoin is in trouble. And YES, I hope i'm very very wrong.

  13. Colin, there's this guy Richard heart who copied EOS's launch strategy. Can you try to interview him and give your opinion? You may be a good judge seeing that your deeply involved in EOS.

  14. That time frame is too fast. After the halving in November 2012, Bitcoin reached a new all-time high in December 2013. After the halving in July 2016, Bitcoin reached an all-time high in December 2017. Following logic, it will take at least 1.5 years after the May 2020 halving to reach a new high. I would believe perhaps closer to 2 years. Look for 2022 to be the marker, if not early 2023. It has a long way to go to gain traction with Bakkt futures shorting Bitcoin. I liked what Tom has to say but statistical analysis is the best method to make predictions. I WILL BET YOU ONE BITCOIN IT WILL NOT REACH $100,000 by January 1st, 2021. Accept? I'll make a basic contract for us to sign to make it official if you're interested.

  15. What are your thoughts about the current status of BTC? There is lots of talk about BTC dropping past $6400 and eventually $1,000, which would mirror its price in 2013 (Elliot wave, zigzag C to top of wave 3 which was around $1,000 in 2013. That is what current predictions it will hit $1,000 are based on ). If it were to hit $1,000, that's a 95% pullback from the $20,089 in 2017. I can see retracement to perhaps an 85% level which would be back in the low $3k range, but a 95% retracement? How many times in its history has BTC had even over a 90% retracement? Very very few times. The last I can think of was going back to 2011. Can you see it dropping past the $3,000 mark?

  16. Hey Colin, love your vids and congrats on the move to Puerto Rico. I have used your offline transaction generator with success. Quick question on Telos. I changed my active owner and active keys. All my coins have shown up in EOS authority and Blocks io but I cannot access my Telos on scatter asTelos Mainnnet account will not load. I assume because t would need Genesis key. They suggested punching in original Genesis key into wallet. Not doing that though.. Any suggestions for Greymass or Ledger or other wallet where I can access my Telos without giving out original Genesis key. I know you are always on the cutting edge of EOS and Telos. Thanks for all your great info!

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