Bitcoin is booming.

el Prof
October 12, 2021

From the jump let me say that this is not financial advice. I will not be held liable for you choosing to take my rants as financial advice. But I can lick my thumb in the wind as well as the next guy, especially when it comes to the state of Web 3.0.

Like you, I source 95% of my so-called knowledge from an unholy combination of Twitter, Reddit, Wikipedia, Google, and whatever other content I happen to doom scroll ass backwards into. Today, I’m citing a random YouTube video called ‘How Ethereum Can Hit $40k per coin’ — clickbait content for code monkeys, sure, but nevertheless a worthwhile and well-researched discussion on what’s likely to be a volatile few weeks, maybe months, in the crypto markets.

The general sentiment is that, based on where we’re at in the Bitcoin halving cycle —trading volume relative to price for the last time Bitcoin was valued this high — and the s-shaped nature of Bitcoin — and the larger shitcoin markets’ — price movement and stability, we are heading towards a Bitcoin peak worth $200-400k by year’s end.

Framed against Ethereum — which conservative estimates put at $10k, but moonshots put at $40k within that same time period, if Ethereum market capitalization flips Bitcoin in terms of rate of growth, as it has been on the verge of doing for a while now — it’s safe to say crypto is now booming, until it’s not.

As the laws of physics once said, what goes up must come down. The 6 & 18 month price point outlook is around $26-42k for Bitcoin and $1.8-3.2k for Ethereum. Before those wild high valuations, we are likely to see stable prices.

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