On December 30th 2020 I made the following statement to preface my 2021 prediction for Bitcoin™. To wit:
It’s quite laughable when anyone makes a prediction about the future these days, for it’s now become hard enough to predict what will happen today, never-mind tomorrow. Yet, with that stated, I would like to make one for 2021 that is diametrically opposed to what you are hearing the so-called “smart crowd” predict.2021 Prediction: Bitcoin Dec 30, 2020
That was just this past Wednesday. And it would appear, with near immediacy, the “bitcoin gods” seemed to take exception with my malice and quickly rallied the digital siren to heights that even marveled the HODL (hold on for dear life) faithful. By Sunday afternoon it seemed I manned more inquiries from friends and colleagues (more like snickering, but that’s what friends and colleagues are for, right?) than the Treasury is from people looking for updates on their stimulus payment.
In that span Bitcoin was up some $5K (or ~15%) pushing the likes of $35K.
So, the obvious question many must now have (as did my inquiries): Have I changed my mind?
Answer: No. Absolutely not, here’s why…
As my title to this missive suggests (for those who are Monty Python fans, you already get it) it’s all part of the dance to facilitate the outlook. i.e., There are going to be battles, both up and down. But the winner is determined at the end. And since this is a year long stance – no matter what takes place from now till then – it aint over – till it’s over. And that is December 31, 2021. So every laceration to my thesis – no matter how life threatening it may be perceived, they’re all viewed as mere “flesh wounds.”
Remember, I also stated in my original thesis…
Now it’s very possible, as well as plausible, that Bitcoin may venture to go higher from here. But how much higher, I believe, won’t be anything matching all the expectations and pontifications currently being told or sold.
Now I’ll be the first to admit that $5K is nothing to sneeze at. However, what it is – is a far cry – from $250K+ the previous hucksters that are now back and, once again, calling for. Even some of the original $1MM+ hucksters are also slithering back from under rocks and regurgitating it all, once again.
Like all things, we shall see. But for those wondering if I had now changed my original thoughts. There you have it.
And for those of you that may not get the Monty Python reference or humor. Here’s the aforementioned scene of reference .
© 2021 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.