The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Dec 16: $20,000 #BTC!! & My Thoughts

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ladies and gentlemen boys and girls and children of all ages today is a historic day because

Bitcoin 20K

What's up, everybody? Welcome to the show. Today is December 16th, 2020. The day will go down in infamy in Bitcoin history as the day went past 20K. There's not much more than we can talk about today besides the Bitcoin price. I'm just going to go straight into the crypto prices and where have a conversation with William Noble or Bill Chief technical Analyst at token metrics and we're talk about what this means for the space. And what do we expect in the future?

Here Wego money talk and I'm recording this at 2 Eastern Standard Time Bitcoin seen that $20,566.15 of 5.4% from yesterday. Aetherium 61743 up 4.4% from yesterday Litecoin 88-67 up 7.9% chain link 1311 up 3% and xrp 50.7 cents up 5.38% Total market cap of cryptocurrency. We're almost at 600 billion dollars 598.5 billion dollars for the BTC dominance of 64.1% top coins Bitcoin, ethereum. Xrp tether Litecoin Bitcoin cash signaling cardano, polka dot and binance coin or BMV.

Looking straight into a talk to Phil Noble about this $20,000 historic day and what it means for the future and what we can expect High thanks for having me 100% Look, I think last time we spoke was about a month ago month-and-a-half ago. We're at 18,000 your PR respect. I was going to say when you want to have Bill on again tonight 90,000. I said, I just talked to him. I mean it was pushed down at 20. I was like, I'm not going to talk to this guy for another 6 months your back. Welcome back. Thank you. Thank you. So so are the reason why your back is like I just said we're at $20,000 Bitcoin worth over $20,000 780 90 right now. Why why are we here institutions have to own it money managers can't show their face at the Holiday party for their company if they don't have Bitcoin on their books, right? So this takes monkey see monkey do to another level. It's very unusual for crypto people to understand that, you know, if one

A manager's got it. They all have to have it and then of course there's Michael Saylor versus the world right? He's got four hundred million dollars to play with and he's not price-sensitive. That's why it doesn't dip. So I think Bitcoin is just going to go until the last big guy piles in the why is to do snobusters. Why is it that one has it like you said or else has to have it I had to understand like the theme that was going to see her and it is this a theme or is it just a fad? It's a thing for sure. So let's say you had somebody holding their portfolio in 100% stocks all of a sudden one guy. I believe Yale did this in early 2019 the Yale endowment. Let's say they decide to put 10% of their money in Bitcoin. Well, all of a sudden 90% equities and 10% Bitcoin portfolio will do better than say the stock portfolio or a stock and bond mix. So portfolio managers get measured on who's doing.

Better versus each other and versus the S&P a Bitcoin just one asked the S&P doesn't want to act so if you can if you don't have that kicker in your portfolio, you're going to underperform and basically be embarrassed to the point where your investors are like. Hey, man, what do you think it will Bitcoin it is as 1X in and I haven't seen One X on Litecoin or all these are all Toys R Us going to follow anytime soon. Yeah, they're going to start real soon right like tomorrow, you know looking at Litecoin vs. Bitcoin Bitcoin Cash Dash even even xrp I call that trade the future of money dollar euro Yen Swiss franc Sterling 20212 going to have digital cousins Bitcoin ethereum Litecoin Bitcoin cash xrp excetera. So the odds are going to follow and I think the defy rally is going to be even bigger than anybody could imagine.

Bitcoin gets it 22 or 26 K and then Defy is going to go parabolic and blow your mind. Thank lose East use you to say that last time but what what is what is leading you to say slug? I wanted to make sure they're going to send this is not Financial advice is not a financial show. We're just talking about the Bitcoin price because it has Das the news today. If we're not talking about it. Then what the hell are we doing going to be having a new show? But what was making you say defies going to go parabolic white was with making you say that old something to follow. What what what what evidence do you have for this the future of Money Trade keeping in mind Litecoin and all these other instruments Bitcoin cash gas during PayPal. So 1 retail may look at Bitcoin at $20,000 and you know you and I know that you can put $1,000 in and that's fine. But people may have this sort of like unit price bias where they look at something that's like $80 or $100 and go. Hey, I can have one or two units of that.

So that's one component for the future money now defy good question. Once all these institutions get done draining hundreds of millions of dollars in Bitcoin at the market. The next question for them is just like any other currency. What kind of Interest what kind of return can I get on this Beyond price appreciation. The only way to do that is to start playing in defy. So the theory goes Bitcoin as currency frequently people with currency look to get interest and where do you get interest on cryptocurrency?

Defy you think defy spaces right to handle that. Do you think the defy space is ready to handle the responsibility that is needed to have institutional investors. And I mean this because if I so plagued with problems in hats and hats are usually because clothing hacks or lack of auditing or not, even understanding what you're arguing for or smart contract flaws. This is something that cannot happen with the institutional money. So is the pie ready at 8 if you can you say the already is the institutional investors of people are buying Bitcoin now ready to put their money into b54 those games or that interest. Okay, great question. So deep that will benefit will be the big cap prominent names right when people think defy they think the crypto altcoin Casino rug pulls and all that obviously the big boys aren't going to be getting involved with the big boys my friend. Well, I mean, it starts, you know, novogratz sailor Yale endowment tutor druckenmiller.

You know, these are guys from Market Wizards book that are you know, there's a guy that I looked up to when I started and Market when I was 21, so these huge players, you know insurance companies you every day. There's a new piece of news coming out as to who's buying tens of millions. So the bigger cap defy plays may benefit, you know, your compounds your Yarns you say maybe even synthetics again. Financial advice. Is it ready? Well, I think e-unit swap Sushi and one in real growth honestly in order to get all the big boys involved were going to need polka dot to come online. I've noticed a polka dot clone to Sama is kind of doing a Mini Moon you do the markets going to find a solution and when it does the coins that benefit are going to just smoke higher who's speaking of fire. Look we've hit the $20,000 Mark we've been waiting for that. Everything was geared toward.

That $20,000 Mark now we have to find a new narrative when we have to find a new goal. And now we have to find something else to reach for what where's the next Point? Look JP Morgan saying $130,000 and I've heard some well if it if Bitcoin 20x back, do you know in 2016 to 2017? Are we going to see your $400,000 Bitcoin? What are you hearing? Where do you see this going in? When's what's our next? Target is our next Target $21,000 Bitcoin or we looking at 50k. We looking at a hundred K. So good question. So I'm looking at the first levels 22, right 22k. I'm drawing charts this morning for premium customers talking about 26k now if there's a 2017 moonshot. It's 40K for our 2021 preview what we're saying, you know, especially cuz we're an old coin shop in Tillicum Patrick. So I think big coin once once the hoopla really happened was just starting now.

Big boys got to do something like go to 25k and trade in a Range, you know, 10% 20% up and down while he's and defy smoke higher. So 25k Bitcoin sort of represents a revaluation of the currency. And then I think it's going to move more slowly. Now again, it's gigantic players start getting involved, you know, the overall market cap of equities is 14 to 15 trillion. There's still a lot of money out there and I'm not going to underestimate what Bitcoin can do I just think The Narrative of cryptocurrency in general. It's not just Bitcoin now crypto people will tell you that but that's going to become a mainstream idea that there is a world in crypto Beyond Bitcoin and he's the institutions. They're just different hair toner. So they're going to get Krypto happy eventually right then. I'm going to want to hold just Bitcoin. They're going to want to hold pee for polka dot or you know, whatever comes whatever comes up Bitcoin cash is a pewter.

Your payment system if you have another lockdown and people can start using Bitcoin Cash Dash and like going to pay for things those currencies are going up. Now. She's halfway to becoming like the second cousin twin currency for all the South America. I do agree with that about Dasha and I know a lot of people that I work at work on dash in South America, and I know what the good work they're doing over there, but I am skeptical I am skeptical and then of course the future is going to let us all know how everything plays out and then we can hindsight 20/20 until the next moon shot in 2024 or whatever but it wasn't to see how everything plays out and I am excited. I am hopeful for the future even with the things that you say, even if it's only $25,000 Bitcoin only $25,000 Bitcoin. I'm going to cry myself a little river over here to be doing well and Industry is definitely chugging along with the more institutional investors coming to space William Noble Chief technical analysis over. I told him to metric things come out of show in chatting again. I'll see you at $25,000 Bitcoin.

Music being too with my friend, Michelle.

What's the weather news today? I'm going to come in and do what's it called a confession about how this makes me feel after 4 years of podcasting the spacing the ups and downs and talking to people, you know, probably thousands of people at this point. I'm a tell you what I think and how I feel about this achievement of Bitcoin and what I think's going to happen in the future and I'm also going to tell you what you should look for in the future. So the first is how I feel I want to tell you I don't personally feel anything about this Milestone. I knew this was going to happen. It was just a matter of time but I do appreciate is that through the years. I've talked to many people that bought the top 18 $19,000 Bitcoin. There was somebody that bought it may be a little bit over $20,000 on a certain extent and all of those people that bought Bitcoin all those people who thought they were losing money for all those years in a be held onto Bitcoin are now making money and that makes me happy. It makes me happy to know that

With all the naysayers with all the fun with all of the skepticism about Bitcoin about the space and went because I went around $20,000 in 2017 for all that time. It was easy to tell somebody who bought the top that you got scammed. Well, it's hard to say that now and that makes me very happy for the individuals that held on to bitcoin didn't sell because they were scared or they thought they lost all their money or got scared into it by some kind of news or headline or a friend or family member that said they did it. They just bought into a spongy skiing. I'm very happy for all those people that took the risk and with lots of discipline and a lot of self-doubt probably held the second thing I want to touch on is what I think I'm going to see this face.

I remember when I hit $1,000 back in 2016 December and it was a big achievement Bitcoin finally hit his previous all-time high and then every basically month or day or week after that. We had a new all-time high. It was not 1,200. It was $1,500 2001 Exmark then was 3000 and there was 5,000 we thought 10,000 was an unattainable goal and we hit 10000 as you know by is released out of the 20,000.

So I guess what I want to say is through the cycle until we know we have our all-time high, which is only going to be in hindsight. It's going to be a euphoric ride a rollercoaster of is this all time high in Narita pull back in where you stay there for 4 years. Every number after this point is going to be uncertain. I'm sure is this him and every pull back is going to be the one so just look for that. Look for that in this cycle of the extreme Euphoria the extreme foolishness the extreme greed moving into this new Uncharted Territory and then the extreme fear because it could be that's it. We don't know if it's going to be $21,000 don't know if it's going to be a hundred thousand. All we know is where to go up until we don't anymore and then we have to start this all over again.

And it's exciting. It's super exciting and it's also scary and with that fear, mistakes and with that greed comes mistakes. So get ready to make mistakes get ready for people to say they know until they don't know no matter which way this goes everybody's going to be wrong and everybody can't be right because it is only two ways to go either a new all-time high or we're going back into a bear market and I'll finally what should you expect? How should you look at everything come into space or what's going to come into the space at this point on this is the interesting part because every mainstream media is going to start reporting on bitcoin and they're going to be reporting it more and more the higher the price goes Banks and financial institutions. Their CEOs are going to make grandiose claims about bitcoin price or they're going to fund the market to see if they can control the price you're going to see scams and receipt influencer is coming up.

To tell you how it's going to make you money with Bitcoin YouTube videos and trading groups to see people try to stay there. Bots and training programs near us in to see ads everywhere from YouTube to Facebook to Instagram to Tik Tok on and off too. Has actually a receipt as everywhere about the person who's going to try to tell you how to make money with Bitcoin. Be careful. They're all probably bulshit. Am I saying they all are bullshit. I am probably are bullshit, but it's going to be free and down your throat. It's going to be everywhere you turn and the fact of the matter is the more you don't want to find it the more you don't want to look for it the more you're going to see it because going to come out of the Woodworks going to come for your family your friends your brothers and sisters the media your social media, everything is going to be about this price. And finally, the other thing I really want you to pay attention for is the next best thing now that you regret not

Bitcoin in 2013 or 2016 or even back in March? Everybody's going to be telling you that they have the next best Bitcoin. This is the next Bitcoin. It does the things that Bitcoin can't do faster transactions lower fees easier operate easy to control baby there and say you don't have your private keys because we got until you can just send it back and forth is very easy or the new platforms the ethereum killer the cardano killer the new ones that are going to be the Next Generation the evolution of the platforms. And of course the new uses for blockchain, everything will be on blockchain everything to be tokenized social tokens, art cars houses gold. Everything is going to sound amazing and amazing use for Bitcoin blockchain for cryptocurrency.

It might be but with every new company it takes time to establish every new idea needs to be flushed out. I don't know if it's going to be the next best thing the Bitcoin killer the aetherium killer. I don't know what's going to happen in the future. All I know is if it plays out like last time everybody is going to be the next best thing and I really want you to use your money to support it. The one thing I can promise you. Is that us at the crib medium and myself Matthew Aaron at the crib Bailey is never going to just focus on price tell me about the news about the tech is going to be about the people in the space. It's going to be about the developments. I'm going to tell you the prices, but I'm never going to wipe it. I'm not going to lie to you. I never to be super bullish and I'm never going to be super funny. I'm going to be even for you to this whole ride. Now. When is this rain going to be over? Who knows did this right even actually begin? I don't know.

What I do know is that we're going to be here even steady and always skeptical for you guys. So please enjoy this historic moment. And please be careful in the coming months. Happy Halloween everybody.
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