This Is Why Bitcoin Price Could Hit $55,000 Next Year: Crypto Zombie in Trader’s Digest

by
George Georgiev
My articles My books
Follow on:

If you’ve ever watched Bitcoin-related videos on YouTube, you’ve probably gotten to know K-Dub. K-Dub is a 32-year-old from New York who broadcasts live each day on his popular channel Crypto Zombie.

Without a doubt, Crypto Zombie is one of the most popular channels around, with an astonishing number of over 90,000 subscribers as of writing this. Every night you can meet him on YouTube, and when I write ‘meet him,’ this really describes his attitude toward his thousands of loyal followers.

K-Dub’s daily streams combine aspects of technical and fundamental analysis. He analyzes the Bitcoin charts while speaking about the day-to-day crypto news.

In the following interview with CryptoPotato, K-Dub shares his long-term Bitcoin predictions, his secret sauce for becoming a leading crypto YouTuber in just two years, and his trading tips for beginners.

The College Experiment

When did you first hear about cryptocurrencies? What amazed you about Bitcoin and the crypto world? 

Initially, I was introduced to Bitcoin back in college by a friend who was mining it on his computer. I didn’t take it very seriously at the time; not many people did. Fast forward to early 2017: one of my peers actually used Bitcoin to send a payment to a friend in another country.

I was shocked that this experiment I’d heard about back in college was still legit and actually being used. I decided to buy some and forget about it. A few weeks later, the price had boomed! That’s when I began to dive even deeper.

Once I started learning all the fundamentals behind Bitcoin and what made this technology so amazing, the price seemed less relevant, and I became hooked. I haven’t looked back since.

What’s the most crucial lesson that beginner traders should learn from the 2017 crypto bubble?

I’m not sure if there is one single most important lesson, but the biggest problem I saw was people simply buying into anything that was being hyped.

Never invest in something that you don’t actually understand. Never buy into an altcoin simply because your favorite crypto YouTuber (this includes me) or analyst won’t stop talking about it.

You never know what that individual’s motive is. They could merely be looking to unload their heavy bags.

What’s the first tip you would give someone about trading Bitcoin and crypto?

The biggest tip right from the start is to learn risk management. If you’re trading with more money than you can afford to lose, then you’re doing it wrong.

You should not be having sleepless nights because you’re not sure if you will be able to afford the rent because you decided to go all-in on a basket of “low cap gems” that “eventually have to pump…. right?” Also, learn to spot trends.

There is a reason they say the trend is your friend. Why catch a falling knife trying to time the bottom? In reality, most people can’t. Wait for a confirmed uptrend. Sure, you might miss out on the first 25% or so gain, but now you ride the next 200% worry-free! I’m oversimplifying it, but I think you get my point.

Also, if you are new to trading, there are many programs that allow you to “fake trade” so that you can essentially practice trading without actually risking any of your money.

Altcoins? Don’t Want to Hold Them For Years

Please share your short-term Bitcoin price analysis as well as a longer-term one.

The biggest short term hurdle was to fill the CME futures gap. Although some might call it a self-fulfilling prophecy, so far, every single gap we have ever had has been filled.

It’s also good to note we have another gap up around the $11.8k level. I do anticipate us to close that one at some point, as well. Short-term, as long as BTC is able to remain above the 200-days MA I will remain bullish. The next level of significant resistance is between the $9.4k to $9.5k level.

A solid daily close above $9,557, and I think we will see the bulls really rushing back in hard! On the other hand, I’m looking for the $8.5 to $8.7k region to hold for support; if it doesn’t, then we will have to change our tune.

However, regardless of whatever choppy price action Bitcoin sees short term, I do believe we will close out Q4 positive. I don’t think we will see a new all-time high this year, but then again, anything can happen! For example, back in January, most people thought $10K was impossible!

In your opinion, will we ever see new all-time highs for altcoins? If you had to pick 5 altcoins to hold for the next 10 years, which would you choose? 

I do believe we will see new all-time highs for some altcoins, but not all.

In 2017 you could basically throw a dart blind-folded at any altcoin and make massive gains during the hysteria. Unfortunately, as many found out, most projects over-promised and under-delivered.

You will need more than a fancy whitepaper to gain investors’ trust this time around, and I don’t believe we will have another “alt season” as we did in 2017 ever again. Yes, there will be a select few that will prosper, but only because they genuinely deserve that valuation. As far as altcoins go, I can’t think of any I would be willing to hold for years.

You have an enormous number of subscribers. How did you do it? What’s your secret sauce for keeping up a successful stream like yours, day after day?

This is actually a question I get asked a lot. The main reason is I enjoy what I do, so that’s why I rarely take days off. It’s been almost two straight years of back-to-back videos, except for a handful of absences.

I’m incredibly passionate about the space, and I think that shows. Another reason, I believe, is because I’ve been able to build such an amazing community. Without them, my channel would be nothing.

I’d be a guy talking to myself all day! While many other crypto “influencers” and analysts essentially packed up and left during the bear market, I continued to put out content regardless of sentiment or price. I feel that it is a two-way street between content creators and their audience, and I always want to make sure they realize how much I appreciate them!

$55,000 For One Bitcoin

In your opinion, what’s the highest price Bitcoin will reach during 2020, the year of the halving?

I believe Bitcoin could hit around $55K – roughly a $1 trillion market cap by today’s supply. It’s not as crazy as people think.

We saw an $880 billion total crypto market cap at the peak of the 2017 mania, so I don’t see why Bitcoin alone couldn’t reach those levels again, especially after the halving. Remember, people said BTC would never even make it to a $100 billion market cap. We are up 250% from that prediction even now.

And what about 2030?

So, the reason why this is difficult to predict is that there are so many factors that could affect this number by that year.

With the fear of another economic recession looming around the corner accompanied by the fact that governments are racing to devalue their fiat currencies – sometimes not even intentionally – hyperinflation, quantitative easing, negative-yielding bonds, et cetera, the price of Bitcoin could skyrocket as high as even a million dollars per Bitcoin! The price could boom not only because of people buying Bitcoin but because fiat will simply fail horribly, in my opinion.

Finally, please share something interesting in your personal life. 

I’m actually a huge music, movies, and pop culture fanatic! I’ve been playing drums ever since I can remember. I toured the country with my previous rock band and produced several hip hop and dance albums as well. I also have a nice-sized vinyl collection.

I’m a huge film nerd, and I love to collect movie memorabilia and props too. And in case you haven’t noticed, I love talking about Bitcoin, blockchain, and cryptocurrencies.