Bitcoin is currently trading at more than $64,000 and isn't showing any signs of letting up. In 2016 I predicted that BTC would hit $100,000, and people thought I was crazy. What do you think now? Of course now, I am more hesitant throwing out huge and far away price targets even for the king of crypto, but I wouldn't be surprised if BTC hit $100k by the end of the year. I mean, it only needs to pull a SOXL.
As far as Ethereum, the queen of crypto, a $5k EOY price target seems appropriate. Bitcoin has such a huge gravitational pull that when it goes up, others follow. I personally don't invest in altcoins, aka shitcoins, because they are to volatile.
However, besides BTC and ETH, CRO is the real winner here. As BNB and Binance is on the decline, Crypto.com is really shining. Now that they sponsor the UFC and the Philadelphia 76ers, they are gaining more and more traction across the US as the go to exchange, besides Coinbase.
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Oh and speaking of really huge and far away price targets that I don't give out anymore, I will make an exception for my favorite and one of my biggest holdings. I think CRO is a 10X'er. I do believe that Binance will lose market share to Crypto.com especially when CDC gets their traditional exchange open where Americans can set limit orders, as that is the biggest thing holding CDC back.
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If you have at least $100k to invest into Bitcoin, I would suggest mining.
What is mining you might wonder? Take a look at the Mega Thread I created on Twitter to explain this.
Essentially you are just buying coins for less than market value. With $BTC at an average of $64k this year (predicted), we mine at an average of $14k per coin. $6k/coin is our bear case scenario we modeled out, which is if BTC fell to $13.5k/coin.
How do we calculate this? Our electricity, including most ancillary costs, is $0.045/kwh. Hardware wholesale price is around $6500/S19jpro. We cannot predict the price of BTC, however the average lifespan of miners with immersion cooling is around 4 years. It will take you around 4 years to mine 1 whole BTC from a new s19jpro starting today. Electricity plus hardware comes totally to $11,550 (over 48 months). We have other expenses, obviously, so with everything factored in we estimate it to be $14k in a bull market. This includes increasing difficulty and the halfing event. Keep in mind our break even is less than 6 months.
Of course, no one can accurately predict the price or difficulty of BTC over the next 4 years. We believe that the price will increase and keep up with difficulty as well as the halfening event. I did say this is a bull market scenario after all. And, this is not taking into account overclocking by ~20% with our immersion cooling. BTW, immersion cooling should keep the hardware in pristine condition (no dust or other harmful particles), so we are able to sell them at the end of the 4 year cycle, in almost new condition.
Bitcoin mining project is still open for investors. Check out the basic info here.
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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.