BITCOIN TO $1500? Top Bloomberg analyst reveals shocking data! [Interview]

what is going on fundation Elio trades here and we are about to launch into an interview that I conducted with an incredibly accomplished and talented commodities expert over at Bloomberg there are some things that he was and wasn't able to share with us his name is Mike mcglone and he's actually the analyst that called for a $1,500 Bitcoin not too long ago I covered it and he actually reached out and we organized this interview I was really excited to hear what you know quantitative approaches he's been using to come up with these analyses in these predictions and there were actually some really interesting ones that I think paint a pretty stark image of where we are where we could be going and of course you know we talked about all the different potential outcomes for Bitcoin and cryptocurrencies in the short medium and long term we were using a proprietary video chat interface and I didn't want my little camera to be blocking Mike's face so I actually am very very small in the corner but that's why I'm very small but I hope you guys really enjoy this I found it extremely extremely informative and I was really excited I just want to say a big thank you to Mike McLuhan for being on the show from both me and the pineapple we hope you guys enjoy it thank you for coming on and taking the time to be here and chat with the flood TV audience and thanks again for reaching out how's everything going with you I'm assuming you're in New York they're at Bloomberg I am you can see I'm on the desk of Bloomberg Intelligence and I appreciate you reach now I guess we reached out to each other because I've been a big fan for awhile and one thing I really appreciate some of the stuff you say and the advice I think you give I guess exactly advice but the main things you mentioned I think are very helpful in the space I found your stuff very helpful like the things you point out about okay and Mark it's probably going lower a lot of people aren't saying that oh by the day and by the and the the key factor about the you say about psychology and so important for people who recognise psychology it's completely shifted and it's just a question when's that bottom and it usually doesn't bottom on a dime easy takes a little while to return well thank you very much yeah and I'm sure we're gonna launch into all that but before we get there I just wanted to take a second to lay a little foundation and introduce you properly so when did you start getting into I guess analyzing markets how far back does this go I seems like you're a very senior analyst there at Bloomberg so if you could just lay a little foundation for the flood TV audience as to how you got into the business or the commodities analysis industry and how long you've been doing it tell by the hair I suppose well the long story short it started with the snow whale accident but that's that's the long story short story I started in the Board of Trade in the eighties 1988 in the trading bits and King came to New York in 93 so been off the pits since then since then you know kind of discovering markets and and mostly market strategist and Alice trader since then and one thing I am is kind of a former trader they say there's no no zealot like a convert so I like to say it and not do it so for instance for instance and everything I analyze we do have compliance restrictions and us trading things which makes sense now we can't get involved I've gone a lot the the long route I bars we don't get involved in anything I trade in so I I Ally sign broad commodities and crypto so crude oil to gold soybeans to Bitcoin and aetherium is what I really cover here and my main purpose is as a strategist the main thing main goal is to get the market right so some people sometimes people claim oh you've got a vested interest and I like to say as far as anybody you're ever gonna speak to in a space we're about as neutral as they come certainly in my space because our primary goal is just getting it right if I continue to get it wrong and people have no interest and I'm not gonna last very long well I appreciate that and obviously you know we value significantly neutrality and and removing I guess financial incentive from your analysis and the things you talk about that's something that we pride ourselves here on at FUD TV so we appreciate that you're doing the same so I assuming that means that you're not invested in the market yeah yeah well we're getting there yeah and that's I have a few wallets I've opened them up and I need to I dunno I need to get in the market more so I understand more of the inner workings of it but my main goal is as a currency term crypto and currency if you know I read Satoshi nakamoto's why Perry because I read the other way papers I read the use case I'm like alright this is what I want to do I want to use it as a currency not speculation I think we're getting there so I have done that open a few walls I need to make them more useful but I just haven't every time they ask for more personal information I get kind of scared but we're getting there so I guess I want to rewind just a little bit so how did you get into what would you say is your foundation for analyzing currencies what was the first kind of market or markets that you started analyzing and how did this lead you and you know what would you say besides bit coin and crypto are the things that you focus on most precious metals was my foundation so the comparison between Bitcoin and gold is the key thing I was a head of research at an ETF firm that was primarily offer precious metals ETF and so I've started really getting involved in looking at Bitcoin 2012 as compared to gold and that's really been my foundation that's what I've really roped it in because to me that was the key resistance around mult GOx in 2013 was the near the per ounce price ago again that was again the key resistance back in early 2017 end of 2016 until the market finally broke above so my background is from precious metals to Bitcoin and here commodities and and crypto currencies ok well that's very exciting and as we get deeper into this interview I definitely want to explore what you think the relationships between the future of Bitcoin and the future of gold might be but let's just start I guess with when did you first hear about Bitcoin when he doesn't 12 2012 and when it interrupt you in 2012 really 2013 and then really I've never never invested I just don't do much investing anymore except my in you know standard 401k – plus I four kids in college so yes so that's the primary cash flow is negative but yes so the main main I guess main start was precious metals and it's 2012-13 but I really got involved in 2016 reading a lot of books and that's one thing about this space I find your your videos very important part of that education there's so much out there there's so much you can learn if you're willing to put the time in place into it and I've you use a primary I mean I listen and read as much as I possibly can books one key book was Bitcoin standard another one was digital gold and there's so many of them those of you that can remember and that's what I encourage all people to get new space just read and study as much as a candidate because I find the space fascinating I'm just trying to put value on it yeah I think that's a very very fair way to approach it and obviously a very difficult task given on you know that it's kind of being priced as of what it will be not what it is and so I I guess as we get in here I want to know how do you approach even putting a value on Bitcoin and how would you you know I know that for our viewers who are not familiar you made a call that Bitcoin would drop to one thousand five hundred dollars and you've been making that call now for some time so maybe you can let us know how did you come to make that call and when did you start making that call and what we're of course the tools that you use to make that call it was about a year ago and so nothing like the blessing and the curse if we picked the peak within a week and there was three key reasons we did that was the three EPs the frenzy the launch of futures and fed tightening so one thing we do is I use everything I can every data point I can to find what this space is either highly negatively correlated or positively correlated to the key thing that Bitcoin has been negatively correlated to is fed tightenings so one thing we had December a year goes we had the futures launch both futures CME and CBOE in the Fed tightening all within a week maybe two weeks and that to me was a key signal I mean if there's ever been a bell ringing at the top now everybody knew it was a frenzy I mean you were saying it everybody was so we all knew was obnoxious was just trying to pick the peak and we were able to do that so now it's a bit of a curse where's it gonna go I mean for a while we've been you know way back in February pointed out typically when you have a market like this that if you define what it is I defined it as yes it's currencies but it got overwhelmed by speculation you typically go back to some form of base and so that's what we hate we'll pick the peak and then we've all been looking for the base and typically in initially I used about 900 as the base now I know that's very low but historically if you look at things in the context the bid points starting I'm trading around one penny or less it's really not and if you look at all the you know it's a history of Bitcoin itself in the history of other markets that type of those type of retracements have been common so that's been one thing and the bottom line we've found is really worked for Bitcoin is the continuous mean what the continuous mean is that's the average price since day one now our data and goes back to since like mid 2000 and 2010 the one it was a dollar and the continues mean in 2011 was the low which and in 2014 the bare market that was the low right now the continuous mean is around 1,500 us the level 1500 okay so I guess that's a fairly simplistic not not even a so highly technical way to look at what the low might be by just saying what's the average price over all time and that's probably where we would see as a low after the frenzy that's very interesting I guess as you look at it you said one of the key factors and picking the peak was the launch of a futures market can you expand a little bit on what you mean by why if the launch of a futures market would lead to a peak that's my buy Acronis futures and the thing people need to remember our futures the number one purpose of futures in history was to short the market they started for farmers to hedge their product so they could every time they went to the node to the heart to the market in let's say October with their their that year's harvest prices would collapse so it started so they can start hedging their would short futures and the market gut you know became more involved but that's the number one reason for futures for producers to hedge their production so what I determined was okay Marcus futures finally it allows a more efficient way to short now I mean new people could short before it's more institutional way too short it made it more institutional but it was also the psychology of wow this markets finally becoming mainstream and that's the key thing once you have a market that dyslexia do very well once it becomes mainstream the vast majority the performance is over and should be done secondly something like this and this is one thing I need to warn everybody in two spaces well life changed and wealth for the masses is virtually impossible you've already done that now there's going to be great trading opportunities but the hundred extras and even the 10x we've had in past have probably gone so I guess I'm gonna put a little pin on one of the things you said which is that futures markets are almost exclusively used to short the market that longing the market is not the purpose of a futures market because essentially you just buy the underlying asset or invest in that underlying asset I guess it would not with vegetables as they would go bad but with something like a precious metals so I think that's very interesting and obviously we all know that as soon as futures launched down went the market I also will circle back in a few minutes once we talk about the potential for more gains in the futures in the future not futures but let's talk about gold for a second because we all know that when gold first launched a futures market the price of gold you know essentially crumbled beneath you know very analogously to two bitcoins and yet when in ETF was brought in for gold we saw a skyrocket of the price do you think especially given that you've looked at Bitcoin through the lens of a precious metal or digital precious metal like gold do you see there being potential for something like that to happen there's a potential certainly I just want to clarify real quick on futures that was the initial purpose of futures was shorting burkewood now they're used for everything and by long in getting long buying selling but everything but on gold yeah there's the potential the thing I need to that's a decision for SEC but it also kind of gets away a bit of the initial purpose of currencies and are they used for transactions are we going to buy them and put them on our mattresses now gold has that you know Gold's it's a when the best stores and value in history will in fact it basically is in terms of history and it still has it going forward it's such a unique element and currency and commodity that's why I think kryptos need to go bitcoins trying to gain that the problem is then it's not going to be intended used for transactions so I'm concerned but also what I seen a space it's so unregulated which means there's rampid manipulation collusion spoofing and if I see it as an ex trader and I don't see Nana doodle signs of it then I'm sure the SEC is on top of it so I know for a fact that's part of their main issues for so I don't really our ETF people don't think it's gonna be for a while but I prefer not to hang my hat on that as a bullish thing and I think if it happens it obviously boosts the market but I'm afraid to be more short-term I'm looking for more organic reasons for the market to return rather than okay well people are gonna buy and put it away yeah that might be good but institutions need regulation they need a good solid reason and adult adult supervision is definitely needed in the space now futures help that okay so I want to touch on a couple of things you said which is of course that gold is one of the most phenomenal stores of value in history but of course making goal or using gold for pragmatic payments for paying for a cup of coffee does not make sense because of the physical nature of gold and and obviously you can have you can have ownership certificates of gold that you can trade but those have not been put into a format that's so easy to trade like with a credit card or you know via PayPal do you think that the implications of being able to take something that that acts like a gold and is traded like a token like Bitcoin do you think that that then presents a an explanation or a segue into why this could gain more value and why the need or the demand for something like that could could could essentially create a require a larger volume for actual currency demand or you know the actual market cap could expand because more people would have a desire for something like that sold you nailed it to me that's exactly where it needs to go that's gold annualized volatility is around 10% typical annualized currency like the dollars around 5% Bitcoin got up to 100% XRP is near hundred percent that's it's not a currency to me that's where it's gonna go and has to go and that to me as a trend that's happening in this years towards stability and I think gold is ideal not particular gold but a cryptocurrency attracts something like gold it has a similar type of because gold is neutral it's no one else's liability and that's the premise of crypto is it can't be a US dollar I mean tethers great I mean that sounds great but it's it's but it's US dollars so needs to be neutral in that case that's why I think any type of crypto that comes I've seen a lot of them we've seen new ones that is similar to gold and maybe tracks coal but it's easily transacted to me that's where that's ideal but I'm not a technician and maybe you can help as a strategist I think that's what that's what the world needs I think that's what it would win so in theory if you know obviously considering that we're always mining more gold there's more gold coming into circulation we don't know how much there is in theory Bitcoin being finite and being indivisible by however many you know significantly enough that you could have such small portions of it that it you know even if it swelled up to be worth a million dollars per coin for example you could still transact at small levels with satoshis is there an argument then based on what you've said here if Bitcoin starts behaving a lot more like gold and let's just imagine for a second that the transactional aspect of it was resolved and it's very easy to to send Bitcoin for that $5 coffee or that you know two dollars that you want to lend to your friend does that now create a use case in your mind if it starts acting like that really solid a you store of value that it could then become sort of I guess it could grow in total cotton market cap to occupy something like a gold market cap well actually it could go there it should go there and I think it already has to some extent replace some ago like it's ideal for imagine anybody in the country with poor currency civilization Venezuela Turkey this year China kind of is one key thing I want to get to a little bit is absolutely there's a good incentive for Bitcoin just push a button diversify your holdings people in USD don't have to worry but it's it's already there to some extent it's just way to NASA in essence I guess it's too volatile it's too speculative and getting closer to that stability in gold yeah that's that's where that should be the target so I think that's again there but I'm I'm afraid that the price the bitcoins gonna go kind of lock down there the price I go and stay there because that was kind of the key level before that that's kind of a add added and else's well I want to be clear about what we're talking about the price of gold because right now the actual total value of the gold market cap is exceeds the tens of trillions so we're talking about a market cap for Bitcoin that is now below the 100 billion dollar mark so now you're talking about to me the the simple math there would show that if it does start to approximate the value of gold that there is a hundred X there still potentially one big problem is there's only one gold and fill or something like that how many forces we have a Bitcoin how many alt currencies are there and they're all supposed to be better than Bitcoin that to me is one key issue so and that to me has been my major issue from beginnings this massive supply and that was really the big trigger for the Cygnus sell-off recently was the cat the one cash for it's just institutions and professionals look like they owe me it's just another massive amount of supply with some dicey characters going at it and that doesn't play well in any type of institution but yeah that's the issue is there's just there's nowhere near that type of supply competition for gold okay and I will I will obviously that is clear and I agree with that but in theory if there were prevailing Bitcoin chain in the next few months two years then in theory a Bitcoin that approximates this value or the utility of gold with of course the added utility of being able to spend and transact on it and very very finite amounts would potentially in your mind be able to get to a gold market cap oh I don't know no that no that getting to go merica I getting to the nut so I get your question getting to the gold market yeah maybe but that I don't I don't really feel it it's possible because of the competition mm-hmm that is just so much competition and the risk for hard Forks so I don't really believe that can happen but no course there's always probability so I wouldn't for me that's not that's not really my radar of a probability okay so as we go forward here what are the things that you really want the flood TV audience to know about the current state of Bitcoin and cryptocurrency what analyses do you think are really pressing that people should be aware of besides the you know the continuous mean are there any charts or data that you want to show to sort of illustrate your points here let me bring you into the terminal here a little bit at least maybe we can show some of this stuff I'm going to share my screen awesome and super you can do this should work see it yes okay I'm just popped up awesome okay so what I'm doing is I'm just gonna show you what I did we put out monthly we're in do a monthly commentary and your viewers can get them on the web bloom Bloomberg kryptos Outlook and I'm just gonna show you I'll link it i'll get below the video yeah let me show you some of the recent ones i did i want to show you one key scene for people who look for in the market is i've already showed you the continuous me and wouldn't mention him i just want to show you the chart real quick and you can see how this is just a chart of bitcoin versus continuum and you see how this i would in the past the low was 2000 level ins there the low in 2015 was there now we've broken down for it to not get there be grade but it it's kind of in the no man's alone typically once it gets down in this area it goes to that mean and and so that green line there is the exactly represents your right on the mean you'll see there is a little dip below it there in the late 2011 but for the most part in its history it's almost never been below that and then of course when we see the big run ups we can see that those are drastically out of proportion from the mean one to eight times the mean so it just kind of puts it in context of the recent peak we had was simply the similar the same thing it did 2013 it's about 28 times the mean okay great I mean that's wonderful i I don't think we're ever gonna do that again because of what I've seen a space but we should recover and it should be questions where it recovers from so one thing I want to mention is keys some of the key things I watch is this chart here now this is again it's just a little bit the price of showing how Bitcoin peaked at the price of gold that's just a yellow line 2013 and then and hovered there for a while 2017 then it was game on so I'm still worried about coming back to that price we don't we've already mentioned that so we don't have to dig into that too much but I want to show you some fundamental things those are more technical and VT ratio you've probably heard that network value the transaction ratio yes correct yeah I'm sure your viewers have heard a lot and we've read all about a lot about it but keep the feel free free to explain and define terms because obviously and not everyone does as much research as I do so yeah well the it's just basically the market cap of Bitcoin market capitalization divided by the daily transactions in dollars great so what we do we show here is just basically a 12-week average so you can't just show a daily because it's too too volatile but here's a weekly and it's already starting a peak the point is it typically bottoms from a much lower level now there's it's something needs to be mentioned that if bitcoin is just bought and hold and not transacted like gold fine an NB t ratio can remain high but just using past performance typically the price of Bitcoin has in bottom until the NVT ratio reached much lower levels right around 50 it's currently around 300 so that's a bit of a warning sign but I did want to show you that was something that's I want to show you a few things that I've been worried about and I've been mentioning for months it said Bitcoin should go to three to four thousand they've actually improved rate that's only been in the last few weeks so I can go there but you see here is then I've been pointed how address is used good supply the coin address is used a good indication of Bitcoin to man and this was analysis we did back for the November outlook but the chart I want to show you has really shown improvement which I'm clicking on right now because I was pointing out how addresses used currently we're equivalent to Bitcoin around 4000 now boom we've done that price has gone to 4,000 so it's already met where the price addresses used was in the past the good news is addresses uses trending up which is what it's been and fast the bad news is it's correct it's at its most significant correction in history hmm and it's still at below last year's low but if I you know I scale this longer you can see they we're looking for I mean just to make this log we're just always looking for similar trends I just made them both analog because they move so much to see this address is used in white in the price of Bitcoin that's all we're looking for okay and that's actually I'm the market and just looking for trends that have worked in the past drove in price driven prices hires but this big correction looks like it's still coming back to this 4000 level so I see that you're you're focusing quite a bit on the transaction levels in the you know the the amount of wallets and and these types of things and so obviously in my mind this kind of screams out that as we potentially patch up the transactional aspects of bitcoins network potentially with a lightening layer to solution or a backed network that creates a layer to solution that makes it very easy for people to have and transact upon the network on would actually work even if the price doesn't go up to actually balance out some of these factors and have more transactions flowing through the network compared to its price or market capitalization and I guess the second thing I wanted to bring up was you know there's a noteworthy figure in our space called Anthony pomp Leon oh who I don't know if you've heard of but he's you know a sort of more prominent on Twitter and he was on CNN the other day essentially saying that the relationship between transactional volume and actual total valuation if you're going to use market cap as a way to sort of approximate total valuation is actually about the same as mastercards if you look at their 180 billion dollar valuation and that their transactional volume as far as daily volume exactly I think we're going there I think you're spot on we need to get there and the best way to get there is reducing the speculative excesses you can't it's very rare for currency to have that kind of volatility and be used as a currency then it's just used for speculation in trading but I want to get you to do to a few things that also is showing an improvement but I'll start with first the massive wincing as a strategist your keys in your looking at is supply demand in price so the one big simplistic way to look at Bitcoin is the supply of that's so much a big point of crypto currencies this is the overall supply coin market Capcom supplies over 2000 the key significance is this is so much like a logical is we don't know only really the top 30 have really any value and our only have any use really good use case that people can use the significant is the last time we had a bear market this measure of supply as I show in the lower case in this blue line flat line it actually started to decline now we might be peeking but that's what I think we've reached is inflection point where prices need to go down until price and supply adjust accordingly just classic supplying the man there's just way too much price makes you much supply to support prices and I think that's what's happening so we need some purging probably it looks like it's just starting and unfortunately you might be early day so that's one big picture thing I'm looking for is 2000s crypto currencies just a lot I mean kind of way you know we all heard about internet companies back in 2000 but one thing I also want to show you is because you mentioned transactions is this is a chart of mentions Medcalf law which basically points out the market only worth the value of it's used for transactions but I want to show you on this chart how its improved see that move up it was very bearish but that move up just three months so it's getting better in the past any time we've been above this market line it's been somewhat bullish for prices it's just the first sign of improvement this year has been this flush in prices so we would you say that the last couple of months this last little spike there is is breaking somewhat the trend that it was on well hopefully you can see the trend still down and it only mattered once it broke through the line when mark was a little dress way to it this was like November last a year ago that's just way too overdone but it looks like it's breaking the trend which is what I'm looking for you know I can just draw a trendline on it and see but you can just kind of picture potentially breaking above here yeah so those are the kind of things we're looking for I'm looking for essentially I love you know I'm always looking for people like you you want to give me ideas of things we can look at the give us indications for the market to show value and bottom and things like that so I would totally agree with you on a few things you said I think it's a little bit too difficult to take every cryptocurrency and put them into an analysis because obviously just like websites somewhere Amazon and somewhere pets calm and and that's the sort of reality about the entrepreneurial world is that not all of these experiments will work but you know knowing that the core experiments that are that are really driving the market you know most importantly Bitcoin and then quite a few others that are important as well those are the ones I guess I wanted to focus on because I think if those prove out then it doesn't matter if there's ten thousand or ten million failed ones as long as we get a true genuine use case and utility out of out of the real you know core focus here which is the bitcoins and you know transactional there's gonna be a lot of different ways to use cryptocurrency in my personal opinion but obviously I'm a tend to focus more on Bitcoin because it's been proven out definitely throughout this year that Bitcoin is going to drive the markets in whichever direction it goes so and obviously it's because most people most of the liquidity in the market came from Bitcoin started in Bitcoin a lot of the big holders there but I think this has been really really informative is there anything you want to start going into start talking about that you think we haven't covered talking about potential upside or downside that we could be looking forward to well I was icky things I'm watch is like to mention NBT ratio I'm watching psychology to see that shift I think that one thing that we need is what's happened in the past you kind of need a lack of faith now we're clearly there started to question how long it's going to last I'm afraid typically these things take a little bit longer and much more extreme and we never it's pretty extreme now but it just takes a lot more time so I'm looking for like things I just showed I'm have on the screen now if you want I'm just looking for a pick up in volume but not because the markets going down because the markets going up and right now we're not there so I'm open to any indication so key thing also is short that's what really triggered us to get really bearish early in a month is Bitcoin shorts the measure we try to use as much as we can drop to the lowest level almost of the year since like March and that was a bad sign because you want shorts to be really high you want the market to get really short and then usual go up and we're starting to inch up a little bit I think we need a new high in shorts and one other key thing is a new low and volatility typically those have marked bottoms and the key things I'm watching like in this chart here and the low and short or the high insurance is a cycle is essentially a psychological evaluation right exactly but it's also it's both because that's an actual measure of positions and when the market is really sure you know it means there's a foundation of shorts that need to cover below the market when they're getting short and pushes it lower so that's really what's happened in the past but also one thing I'm watching for is volatility to continue to decline and I think volatile in Bitcoin needs to mean read reached a new low so like why I have on a chart showing here 180-day volatility the the lowest level ever reached in $118 tilly in Bitcoin was October 2015 which was the bottom that year the biggest month that year which to me set the stage for this rally and we're still above that level but I think we need to reach new lows in volatility and that would probably be indicative of a market showing bottom so I'm looking and again it's we know looking for all indications we can that's a bit of a technical indicator shorts a little bit more of them what market participants are doing yeah I think it's very interesting and looking for essentially when the volatility drops which of course it has been as it's flatlined at six six thousand between six and seven thousand certainly not flatlining anymore but yeah it would be very interesting to see obviously how these indicators which you're showing obviously correspondent almost exactly with lows in the previous bear markets and I think that's people under underestimate the value of history in in both you know crypto currencies as well as traditional markets but but it's very interesting to see that that low if it gets put in in the next couple of months if that would actually put in a new low as far as Bitcoin price in this in this bear trend I don't think many people in the space are looking for an immediate pop or an immediate change in in bitcoins trajectory but you did say that you don't think the ETF is going to be in the near future I know that a lot of people are hoping that the etf decision might come in in February as that's sort of the end of the delay period for the Vanek and solid x ETF proposal is there any more substantive reasons why you think it might be delayed further or is it just a hunch we have ETF strategists here who've put it off and they initially a year and well actually six months ago this is not going to 2019 so I depend on them and I will get back to you as far as their projected date and we might get any deaf but sorry you said it's not going to be in 2019 is what you said open initially they said it's not going to be until 2019 but this was six eight months ago now we're getting close to 2019 but I will check on their latest analysis I can vacuum but I hear is it seems to be off the radar for now for anything immediately so I'm gonna put my tinfoil hat on here and just see how far you can come along with this theory is there any water in the bucket in your mind with the theory that institutions are excited and recognize the value of Bitcoin and that have been you know they've been intentionally trying to bring the train back so that they could load up no that is the things that you hear people say like that is very rare for instance when I hear heard a lot of people to know the exchanges were buying Bitcoin to support back and stuff and I used to work in exchange that's almost unheard of because you let it go to the market in your head so I don't think that's likely but I do believe institutions are Hertz coming I believe that wouldn't Michael novigrad said and member Bloomberg has been a big part of that we launched the Bloomberg Galaxie crypto index and part of the main reason our team helped spark that was you know our bi team was because we wanted to help add beta to the space and that's what institutions need not is they're not going to just go by General Motors or Apple they need the measure of the market and that's what an index does so for institutions that come in in in real true institutions they need a measure of beta and that's part of the reason we launched that index and to me it's getting there but it still just got a ring out the spec limit and it needs adult supervision it needs regulation maybe the ETF's part of that but so much there's so many things in here I'm afraid of just very illegal then need to be straightened out in there or in the process of doing that conflict of interest aside what coin would you be buying if you could buy only one coin yeah I knew you're gonna ask me that so I've been asked that before and I actually was on live TV and we started doing analysis and the best performances not so much what I would buy is the key point is what's been performing the best and guess what it is feather people hate to hear that and I remember when I was giving a presentation in Hong Kong they said so you liked Heather I'm like no I'm pointing out facts to me that is the the trends that our viewers really need to be aware of Heather's been doing well partly because people get any other coins but it's also a stable coin and to me that's the future of a true transactional cryptocurrency needs to be stable and that's why I kind of go back to where I started gold but why why would you buy tether with dollar I'm not saying I would buy it as I point them okay and obviously I can't really answer that question because I'm not allowed to from compliance reasons God sale and but I'm pointing out what's watch what's been winning know if you had you want to watch like the Amazons the Amazon went from a hundred to seven hundred dollars to seven in 1999 to 2002 now it's but it got up to fourteen hundred but at one it was the best basically Internet company in in world history I'm just pointing out which what are the winners so far able coins Heather it's been the best one so the point is maybe that's the trend towards mark and that's where I come back to gold and that's what I'm really trying to be careful about the speculative part of it I think a lot of that's gonna be gone from the market I mean we started it with speculative frenzy and now it's going to gravitate towards a more stable coin if it's gonna be focused on pure truly transactional cryptocurrencies and obviously you lumped in gold there so I'm assuming you're you're when you talk about stable coins you're also sort of including asset-backed coins or coins that represent other other sort of value yeah I don't know how it can be done right I've dug into some of these these methodologies and these white papers but however a crypto could properly track gold to me is probably a potential winner but I it's how they do it meaning but you still need to be able to spend it easily and can't pause 4% like a max does it has to cost a fraction of 1% so I totally hear you obviously on the tether thing I do want to remind everyone at FUD TV that if you do have US Dollars and you're buying tether that essentially you are that there's not much upside there but there's only potential counterparty risk but at the same time moving in I want to ask you how are you investing in 2019 if you were allowed to talk about that I can't find something I can't give an investment advice like you can either but I'm I focus I point out where I think markets are going and I've been pointed on for two years almost it we just redid a deck called the three amigos and that was a stock market Bitcoin in gold they all traded together last year they all went up and they all went down this year and I think Gold's gonna win that race she was saying precious metals looking to have a more positive outlook right now particularly with the u.s. our trade weighted measure at a multi-year high there's a lot of mean reversion risk meaning it's more likely to probably go lower than continue higher which makes precious metals look a little more attractive interesting very nice so do you have any closing remarks for the flood TV audience anything you want to say it all crypto related investing related or otherwise live from the flood TV I found your analysis and your your outlook very helpful I really appreciate that coming from an expert like you it means quite a bit and I thank you so much for your time this has been extremely extremely informative and I think it's gonna benefit everybody thank you thank you thanks so much Mike another huge thank you to Mike I hope you guys enjoyed this episode once again I'm really sorry for not having a very high-quality version of my face on the screen but who needs to see that I hope you guys benefited and enjoyed watching this regardless let me know any comments in the comment section below maybe if Mike's watching or feels the so inclined he might comment back but thanks again to Mike and I hope you guys enjoyed all that we covered and as usual I will see you guys very soon on the next episode

44 thoughts on “BITCOIN TO $1500? Top Bloomberg analyst reveals shocking data! [Interview]”

  1. I paid $13 for sending $50 of btc at its peak and speaking as a noobie I feel that destroyed the momentum of adoption.

  2. Appreciate Mike's direct incisive analysis. Even though he believes 10x and 100x are gone, it is extremely helpful to hear an alternative outlook to the direction of Bitcoin compared to all the channels that are calling for Bitcoin to the moon in the long term.

  3. What probably will make me not to Accord Donald earl. When I made $12,500 last week with the bots he sold to me.

  4. Guys please do your own analysis . The biggest Percentage Drop in Bitcoin was 87% in the Mt. Gox Hacking Era. It went from $1150 down to like $150.

    If we do an 87% drop in Bitcoin from $20,000 it lands at $2,600

    And thats assuming we are justifying 87% drop. We have stronger fundamentals, there has been no hacking, we've had more debt and currency fuck ups around the world, 6% wallet growth per week (YES, per WEEK!), and we etch closer to SEC approval. I mean there's just way too many things holding Bidcoin up.

    I'm calling it now, you're all Faggots and we are not going below $2,500 sorry . I dont care about your Magical Resistance Line becoming Support, if you do Percentage Drops from the past you will come to my conclusion.

    Real Research doesn't involve magical horizontal lines on charts. Enjoy the FOMO when you get back in.

  5. Why interview someone who is wishy washy about bitcoin and has no investment history with bitcoin????HE HAS ZERO QUALIFICATIO TO TALK ABOUT BITCOIN.. Lol

  6. This is like an AT&T operator in the 90's saying that mobile technology is a passing fad and cannot compete with landlines after the first pager comes out.

  7. Bloomberg predicted 3k months ago and everyone thought that was crazy.

    Now I don't this is crazy anymore.

    Waiting 1k.

  8. 1stly…Tether is manipulated by blockone.I think a stable coin may work but your comment on tockenising gold as an accurate store of value is spot on.
    Its already happenning.

  9. The last 2 months, I have made over $60,000 from Bitcoin but my success never started that way as I had made substantial losses before my turning point in the Crypto space. I bought *2Btc last year which quickly rose in the bull run but eventually lost most of it and sold off what was left. That was the last I would ever have to do with bitcoins until I was introduced to Mark Hall first of, he asked to know my trade experience. He then gave me a quick insight on what to look out for when choosing a platform and a bunch of other things most experienced traders may never tell you. Most importantly, he introduced me to his specially designed layout and provided me with professional advice and accurate trade signals. With his system, trading has become easy and profitable and I just want to spread the word and thereby help as many that are in my previous unfortunate situation. For all questions, you can reach by **Mail ([email protected] com)

  10. If banks are allowed to loan out nine times the amount of money deposited in their banks, while not actually loaning out their own money (Fed Res creates the loan amount upon loan approval) then the very idea of this monetary is corrupted at its roots. Anyone talking about money needs to be well versed in this fractional banking system we have all been defrauded by. Our current monetary system wasn't designed to last forever. Furthermore, any figure higher than 90% of the world's money being digital, or fake, means the greedy banksters embezzled every percentage point higher than 90%. If the world supposedly has trillions of dollars in the system, 1% is a very substantial amount of money so don't brush this fact off. If this system is to survive beyond the energy bubble, strict regulations and higher reserve mandates must be passed to control the banks and level out the value of money. This needs to be first and foremost if we want to continue with this monetary (money) paradigm. If we continue to let the banks print money out of thin air the greedy sociopaths that own them will continue to violently rape the world while fooling us to believe it was consensual.

  11. I bought 200.oo in bit coin to buy something in 2011 and just realized I never used all of them…. I had 23.0876451 left.. I messed up… wish I would of realized it last December at 19k.

  12. Adult supervision. Just like the supervision over the banks laundering drug money?
    I respect this guys experience but not his opinion.
    Stable coin is a winner based on what? Its stable?
    All the talking heads talking about bitcoin going to zero and not worth buying but buying and building onramps and desks and exposure…but they don't talk it down? Was I born yesterday?

  13. The bottom is a $1
    They’ll steal ya money thru hacking your wallets
    They’re hacking there own investors account and stealing there money
    They have “lost over 2 billion $”:
    Of investors accounts ,since 2013
    Explain that 👨‍💼 ceos were is the money gone

  14. Thanks for bringing the price discussions, even from a person in the establishment. For the technology and adoption videos, I have them if you'd like to check them out FUD TV 🙂

  15. This guy's either outdated, trying to spread FUD, or simply clueless. He said BTC and XRP because they went up 100% they're not currencies. In this future people are going to determine what is currency. Governments are now looking to regular crypto because they realize they can't tame it. Gold is a natural resource that is still being mined and it's not very liquid. When's the last time anyone has ever seen someone paying for something with gold coins? Ok! Folks all over the world are paying for goods and services with crypto because this is the digital age. Let me see them digitize gold and send it cross border in 3 seconds and then we can talk? XRP and most other crypto has a fixed amount. Don't listen to these dinosaurs.

  16. I have the Elite Crypto currency investment services: ALL Palm Beach Confidential Subscriptions if you want a share of them (including the New: Crypto Income Quarterly) hit me up: mrbigcoins at gmail

  17. I Don't agree that bitcoin will not do that again because if he read bitcoin standard and understood it in 2025 the stock to flow ratio will be lower than gold! This means the percent increase in supply will lower than the increase in the supply of gold, by orders of magnitude. However, the next bubble will be the last in my opinion because the majority of people will be attempting to get in as it most likely be as easy as email to use. I don't think stable coins are a winner! Why would you want high-risk investment with no return? That makes no sense to me. Finally, the only thing I agree with is the price call it is coming and bitcoin will be there for a long while this time around maybe 2 or 3 years. Bottom line it will be painful for most before we see explosive returns again.

  18. Hi:
    I was wondering about the local meets: ie meeting the seller from

    I contacted some sellers; and even if we meet, they still want my ID/KnowYourCustomer. I am trying to stay anonymous . . .

    Has anyone thought of using a fake ID to purchase BTC? I mean it just seems counter to localbitcoin and to BTC in general to have KYC as part of the buying process.

    What ways can we stay Anon? I have looked into a place called kingoffake and they charge $120 for ID. But if that is the price of anon, I am willing to go that route to keep my privacy from the govt.

    What are out options? thx

  19. Disagree at 18 minute mark. There is only ONE BITCOIN. The forks are copy cat coins and they are all under different leadership and have different strategies. The original core team has been developing and navigating the Bitcoin ship for 10 years which is why the market cap is over 50%. Again,, there is only ONE Bitcoin.

  20. Very informative and backed by years of research and expertise. Thank you so much for this video. I am bullish on BTC but we need less volatility and ease of use so we can increase adoption world wide. I know for sure that it's much faster for me to send Bitcoin and very cheap than the prices I use to pay with Western union.

  21. terrible. so called analyst or whatevs….do any of you actually realize if the market cap drops below 100 billion there won't be a market ? btc gets removed off of certain trading…the banks didn't open btc product trading desks just to close them a month later. the banks now control btc. wake up.

  22. nobody knows anything period. its nothing but a speculative market with lots of growth ahead. what we can say is Fiat will not be around forever. with everything being slowly put in place and the market resetting, one would be naive to not see whats coming in the near future.

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