Bitcoin to $100,000?

Bitcoin will rip to $100,000 per coin in the next 18 months. July 01, 2024 [WEBSITE]( | [UNSUBSCRIBE]( Bitcoin to $100,000? SEAN RING June 2024 Monthly Asset Class Report I was really disappointed when Jay Powell didn’t man up and cut rates this past month. Never mind, there’s a far bigger story brewing in the markets. Finally, after years of crypto bros drooling all over their keyboards and making asses of themselves online, I will claim Bitcoin will hit $100,000 in the next 18 months. That’s right. By January 2026 – I’m giving myself until December 31, 2025—Bitcoin will hit six figures. There will be no living with crypto bros. Michael Saylor, Saifedean Ammous, The Winklevosses… all of them will be unimaginably rich and smug as all hell. But that doesn’t mean there aren’t other opportunities. Gold and silver will still rally to the moon. And what’s more, stocks and bonds look good right now. Why is that? I think it’s because the markets think Trump will be President in January 2025. There will be no war with Russia or China, and Israel will have to cut a peace deal. Without the war premium, most overcooked assets will cool off. But here’s the thing: if the real estate mogul-in-chief keeps Biden’s fiscal spigot open, and he almost certainly will, and the Fed chief is somewhat more accommodative with rates, we’ll have another everything rally during his term. Stocks look good now—the charts even like bonds. But imagine gold, silver, and crypto with lower rates and reckless spending! To the moon, as the kids say! We still target 6,000 for the SPX, $3,000 for gold, and $50 for silver. All of which can make you unfathomably rich. But a $100,000 Bitcoin and a $6,000 Ether? Hoowee, that’s some party the USG is throwing… right after they throw Bumblin’ Biden under the bus. To the charts! S&P 500 ***New Closing High of 5,460.48.*** Do you really want to call the top now? I certainly don’t. We’ve had new monthly closing highs for 9 of the last 12 months. Sure, we may have a pullback, which would be healthy. But a big sell-off? It’s not impossible, but there’s nothing on the charts to indicate it’s likely. Nasdaq Composite ***New Monthly Closing Record of 17,732.60.*** For the Nazzie, 8 of the last 12 months have resulted in new record-high closes. Market commentators are moaning about NVDA carrying the index and that the top 5 stocks are 21% of the index. My question is, “Who gives a toss?” If we’re ascending to new highs, thank the goddess Fortuna, count your money, and shut your pie-hole. I’m certainly not calling a top here. Russell 2000 (Small caps) The Russell’s strength confirms what we’re seeing in the major indexes. It’s not shooting the lights out. But it’s not driving off a cliff, either. I’m not a seller here… yet. The US 10-Year Yield This chart looks like it’s rolling over. Of course, after Biden’s disastrous performance in the debate last Thursday night, the 10-year popped up. I think this is temporary. The Fed will likely cut in July now (though I was wrong about the June cut). Even so, that’ll goose the markets as the USD follows the 10-year down. Dollar Index Here, I see higher highs and higher lows, which contradicts my story about the 10-year yield. If we break above 107, there’s nothing between there and 111.50. Above there, it’s 114. For those dollar bears – and there are compelling reasons to be one – my question is this: what’s the dollar going to fall against? The euro? Please. The sterling? Come on. The yen? You’re dreaming. The dollar can only fall if the currencies it trades against rise. What currencies would you rather own? The dollar is still the prettiest girl in the ugly parade. USG Bonds My entire bond story has changed. I don’t like them, and inflation is making a comeback, but the charts are telling me a different story. We’re up over a point from last month. But we’re either going to resume the downtrend or break out into a new uptrend. My money is on the uptrend. Once we break 99, I’m looking for 104. Investment Grade Bonds We had a bad last week, but the month was positive overall. If we clear 109, we can retest the 132 level. Scary, but possible. High Yield Bonds Junk continues its ascent. I’m looking at 79 as the next upside target. Real Estate It barely moved this month. It could be a bad omen. But there’s not much volatility here, either. If you’re betting on the downside, 70 is the next big target. Energy: West Texas Intermediate (Oil) I got this totally wrong. Oil had a great month. I’m still not convinced, though. The world economy mustn’t be doing that great if we’re still only breaking $80. Still, with this break upward here, the next big target is $100. But first, 88, then 92. [Your Credit Card: Declined?]( Take a moment and picture this scenario: The line at the gas pump is getting longer as you insert your credit card for the second time. You decide to head in and ask the cashier what’s going on. There’s a long line inside. The woman in front of you looks frustrated. Everyone does. “There’s nothing I can do. You’re declined,” the cashier says to the man at the front of the line. It’s not just you. Everyone is declined. Something doesn’t seem right. A sinking feeling sets in as you realize something has gone terribly wrong. [Click here now for an urgent new prediction from a former advisor to the CIA and Pentagon.]( [Click Here To Learn More]( Base Metals: Copper I was much better on this one, though we haven’t hit 4.30 just yet. We’re in no man’s land right now. For copper to achieve new upside targets, we need to break $5.00 again. Until then, we’ve got big downside targets, first to 3.70. Precious Metals: Gold From two months ago (and remains relevant): $2,609 is our new target, but it may take a few months to get there. The yellow metal’s price detail shows a nice consolidation between 2300 and 2450. However, if we break below $2,300, we could head to $2,230 before restarting higher. Precious Metals: Silver Silver is still hanging around $30. I see a $35.65 price target to the upside. If we clear that, silver miner stocks will take off and we’ll see a move towards $50. Cryptos: Bitcoin Ok, when Bitcoin traded down to $16,000 and then caught its breath, I said we could see a $48,000 coin. I was right about that. Here’s another one: if BTC stays above $55,000, we’ll see that $100,000 coin the crypto bros have been talking about for so long. Cryptos: Ether Like BTC, even after a subpar month, ETH is starting its new ascent. The new upside target is $5,950. Crypto bros be celebrating soon. Trad Asset Class Summary This was an “everyone wins” month. The dollar was up 1.41%, but that didn’t stop stocks, commodities, and bonds from finishing up for the month. Stocks won bigly again, with the SPX up 3.35%. Commodities and bonds performed the statistically impossible feat of both finishing up 0.48%. Crypto Class Summary Big difference from last month, when almost everything was up. This month, only Monero, the most secretive coin, made any headway. The rest of the big coins stunk up the place, with Dogecoin, Elon’s fave, losing nearly 25%. Bitcoin was down nearly 11%, and Ethereum was down 11.5%. But it doesn’t matter… they will rise again soon. Wrap Up Get ready for the mother of all rallies. It’s coming, despite the naysayers. And a weaker dollar? Fine by us. But it’s got to get weaker than the Bud Light-like euro, sterling, and yen. Still, stocks, bonds, crypto, and commodities are all looking positive on the whole. There will be a time to get short. But it is not this day. Finally, let’s take a moment, courtesy of the Twitterverse: Have a wonderful week! All the best, Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( Rate this email Like Dislike Thanks for rating this content! Looks like something went wrong. Please try to rate again. In Case You Missed It… The Evisceration of Joe Biden SEAN RING Call the cops! There’s been a murder! My goodness, Donald Trump crushed Joe Biden in what CNN called a “debate.” It was more like a demolition derby. My friend of mine wrote: Biden's handlers should have found a reason, any reason at all, to pull him out of this debate. They hid him for a week so he could prepare. How could they not know how bad it would be? This is what happens when you force-feed massive amounts of Adderall to nursing home patients. I couldn’t have put it better, myself. But here’s the thing: did the butler do it? Did the DNC and CNN plan on making Biden look awful, and maybe they even alert Trump about it? Why else would Trump agree to such stupid rules? Strict timing, no talking after the microphone is shut off… and yet Trump still knocked Biden out. I can’t prove that, of course, but is it really that remote a possibility? And then Jim Rickards’ thesis that Biden will be removed makes even more sense. Donald Trump looked and sounded like he was twenty years younger than Biden. Biden lost his way more than a few times. It wasn’t even close. Let’s just look at a couple of points in last night’s debate. The Economy Trump’s statement: We had the greatest economy in the history of our country. We have never done so well. Every – everybody was amazed by it. Other countries were copying us. We got hit with COVID. And when we did, we spent the money necessary so we wouldn’t end up in a Great Depression, the likes of which we had in 1929. By the time we finished – so we did a great job. We got a lot of credit for the economy, a lot of credit for the military, and no wars and so many other things. Everything was rocking good. But the thing we never got the credit for, and we should have, is getting us out of that COVID mess. He created mandates – that was a disaster for our country. But other than that, we had – we had given them back a – a country where the stock market actually was higher than pre-COVID. And nobody thought that was even possible. The only jobs he created are for illegal immigrants and bounce-back jobs, they’re bounced back from the COVID. He has not done a good job. He has done a poor job. And inflation’s killing our country. It is absolutely killing us. Biden’s retort: Well, look, the greatest economy in the world, he’s the only one who thinks that, I think. I don’t know anybody else who thinks it was great – he had the greatest economy in the world. And, you know, the fact of the matter is that we found ourselves in a situation where his economy he rewarded the wealthy. He had the largest tax cut in American history, $2 trillion. He raised the deficit larger than any president has in any one term. He’s the only president other than Herbert Hoover who has lost more jobs than he had when he began, since Herbert Hoover. The idea that he did something that was significant. And the military, you know, when he was president, they were still killing people in Afghanistan. And he didn’t do anything about that. When he was president, we were still finding ourselves in a position where you had a notion that we were this safe country. The truth is, I’m the only president this century that doesn’t have any this – this decade, that doesn’t have any troops dying anywhere in the world like he did. Sean’s take: This is one place where Biden misstepped early. Trump shut down the country. Biden should’ve hammered him on that. Remember “two weeks to flatten the curve?” That happened under Trump. Biden simply didn’t throw that punch, perhaps because his lockdowns were longer. As for the deficit, with Biden’s insane deficits, I don’t know why he even brought that up. I think it’s terrible debate coaching. And the nonsense about Afghanistan… sheesh, Biden just opened up the floodgates for Trump later in the debate. [Could Elon Musk’s New Project be worth trillions of dollars?]( Elon Musk has predicted that his new venture “[X-9840” could be “a multi trillion dollar company…”]( As big as Microsoft… Apple…and Nvidia… Companies gave their early investors a chance to become millionaires over the long term, starting with just $1,000. [Click here to see the details]( because this has nothing to do with electric vehicles…Self-driving cars, rockets, brain chips, or satellites. [Click Here To Learn More]( The National Debt Biden’s statement: He had the largest national debt of any president in a four-year period, number one. Number two, he – that $2 trillion tax cut benefited the very wealthy. I – what I’m going to do is fix the tax system. For example, we have a thousand trillionaires in America – I mean, billionaires in America. And what’s happening? They’re in a situation where they, in fact, pay 8.2 percent in taxes. If they just paid 24 percent or 25 percent, either one of those numbers, they’d raised $500 million – billion dollars, I should say, in a 10-year period. We’d be able to right wipe out his debt. We’d be able to help make sure that all those things we need to do – childcare, elder care, making sure that we continue to strengthen our healthcare system, making sure that we’re able to make every single solitary person eligible for what I’ve been able to do with the – with – with – with the COVID. Excuse me, with dealing with everything we have to do with – look, if – we finally beat Medicare. Trump: Well, he’s right. He did beat Medicare. He beat it to death. And he’s destroying Medicare because all of these people are coming in, they’re putting them on Medicare. They’re putting them on Social Security. They’re going to destroy Social Security. This man is going to single-handedly destroy Social Security. These millions and millions of people coming in, they’re trying to put them on Social Security. He will wipe out Social Security. He will wipe out Medicare. So he was right in the way he finished that sentence. And it’s a shame. What’s happened to our country in the last four years is not to be believed. Foreign countries, I’m friends with a lot of people. They cannot believe what happened to the United States of America. We’re no longer respected. They don’t like us. We give them everything they want, and they think we’re stupid. They think we’re very stupid people. What we’re doing for other countries, and they do nothing for us. What this man has done is absolutely criminal. Sean’s take: Biden started leaving too many ways for Trump to outsmart him. There was nothing Biden could do. He started looking senile and lost after this point. The Border Biden’s statement: Because we worked very hard to get a bipartisan agreement that not only changed all of that, but it made sure that we are in a situation where you had no circumstance where they could come across the border with the number of border police there are now. We significantly increased the number of asylum officers. Significantly – by the way, the Border Patrol men endorsed me, endorsed my position. In addition to that, we found ourselves in a situation where, when he was president, he was taking – separating babies from their mothers, putting them in cages, making sure the families were separated. That’s not the right way to go. What I’ve done – since I’ve changed the law, what’s happened? I’ve changed it in a way that now you’re in a situation where there are 40 percent fewer people coming across the border illegally. That’s better than when he left office. And I’m going to continue to move until we get the total ban on the – the total initiative relative to what we’re going to do with more Border Patrol and more asylum officers. Jake Tapper (CNN): President Trump? Trump’s retort: I really don’t know what he said at the end of that sentence. I don’t think he knows what he said, either. Sean’s take: And that, my friends, was the kill shot. Biden was wobbling and stumbling from that point onward. Wrap Up This was an evisceration. President Biden looked more like a schoolboy getting beaten up by the schoolyard bully. Former President Trump won decisively, and I can see the polls moving further in his favor. Again, it’s not who votes that counts—it’s who counts the vote. So, this debate victory means less for Trump than one would assume. And yet, Biden looks like a doddering old man. Let’s not be surprised if he pulls an LBJ in the coming months and “chooses” not to run again. Have a great weekend! All the best, Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Rude Awakening is committed to protecting and respecting your privacy. We do not rent or share your email address. Please read our [Privacy Statement.]( If you are having trouble receiving your Rude Awakening subscription, you can ensure its arrival in your mailbox by [whitelisting Rude Awakening.](