Willy Woo discusses Cathie Wood of ARK Invest's prediction of a price of $1million for Bitcoin. Considering interest rates just took Bitcoin down and Ray Dalio's prediction that they could outlaw Bitcoin and gold (they outlawed gold * during the great depression) and John Mauldin's discussions on the Great Reset (the world is 300 Trillion in debt, much of it bad debt) I think I would go with a much more conservative view for the near term future. How much did Bitcoin go up during the previous cycles? It will probably do about the same in the next bull cycle starting in 20203 with a peak in 2024 and another large drop.
* Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $433 in 2021) per troy ounce.
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