alright guys I'm joined here by trader and chart analyst Peter Brent for the last almost. analyst Peter Brent for the last almost 25 minutes me and Peter and our members. 25 minutes me and Peter and our members have been talking about all kinds of. have been talking about all kinds of markets stock markets Bitcoin currency.
markets stock markets Bitcoin currency has been really interesting for those of. has been really interesting for those of you don't know Peter he has been a. you don't know Peter he has been a trader now for almost 40 years. trader now for almost 40 years author of several great books puts a bio. author of several great books puts a bio here for you guys so you can quickly. here for you guys so you can quickly read it as well. read it as well no Peters been trading the markets now. no Peters been trading the markets now for almost 40 years something I didn't. for almost 40 years something I didn't find out until tonight when I was. find out until tonight when I was interviewing Peter was he actually.
interviewing Peter was he actually trades Bitcoin as well I quite a. trades Bitcoin as well I quite a surprise to me because I thought he was. surprise to me because I thought he was only interested in it from a chart. only interested in it from a chart perspective but no it seems he trains. perspective but no it seems he trains Bitcoin as well but the question I have. Bitcoin as well but the question I have for Peter is this Peter so there are. for Peter is this Peter so there are some people out there who believe that. some people out there who believe that Bitcoin could eventually go to a million. Bitcoin could eventually go to a million dollars in fact let me share with you a. dollars in fact let me share with you a chart I'll put it in the screen so. chart I'll put it in the screen so everybody can see it here it is guys I.
everybody can see it here it is guys I think you can probably see this chart. think you can probably see this chart can you see Peter as well. yes I can now this is not my own chart just let you know there's a chart posted. just let you know there's a chart posted by somebody who wrote an article on. by somebody who wrote an article on trading view his name is the elk and he. trading view his name is the elk and he basically what he did was Peter. basically what he did was Peter something quite interesting as you might. something quite interesting as you might have guessed he basically projected. have guessed he basically projected every parabolic rise every rise in. every parabolic rise every rise in Bitcoin going to the past so you know. Bitcoin going to the past so you know the rises we've seen in the previous. the rises we've seen in the previous bull phase as the previous bull markets. bull phase as the previous bull markets of Bitcoin and he's basically got to a. of Bitcoin and he's basically got to a million dollars is basically as you can. million dollars is basically as you can see here he's got to a million dollars.
see here he's got to a million dollars by the year twenty I think it says over. by the year twenty I think it says over here by the Year 2024 or 2025 he Bitcoin. here by the Year 2024 or 2025 he Bitcoin will hit according to him according to. will hit according to him according to his projection is going to potentially. his projection is going to potentially hit 2025 by bike by that year which to. hit 2025 by bike by that year which to me sounds a little bit too soon. me sounds a little bit too soon I think but let me just turn that chart. I think but let me just turn that chart off so before before I let you answer. off so before before I let you answer before you come and ask a question Peter. before you come and ask a question Peter here's what here's what I think. here's what here's what I think Bitcoin go to a million dollars honestly. Bitcoin go to a million dollars honestly I don't know I don't think anybody knows.
I don't know I don't think anybody knows but here's one potential problem I have. but here's one potential problem I have with this which is let me show you why. with this which is let me show you why some years ago I read this book you. some years ago I read this book you might have heard about this yourself. might have heard about this yourself Peter it's called chaos chaos theory you. Peter it's called chaos chaos theory you might have heard of chaos theory and I. might have heard of chaos theory and I think people watching this video may. think people watching this video may have heard about it that's a scientific. have heard about it that's a scientific theory but it doesn't because we don't. theory but it doesn't because we don't know what chaos theory is it's a.
know what chaos theory is it's a scientific theory which has been proven. scientific theory which has been proven now that certain systems are sensitive. now that certain systems are sensitive to initial conditions certain systems. to initial conditions certain systems like the weather traffic human beings. like the weather traffic human beings the brain human brain and the markets. the brain human brain and the markets financial markets are subject to what's. financial markets are subject to what's called nonlinear nonlinear systems or. called nonlinear nonlinear systems or chaos chaos theory essentially chaotic. chaos chaos theory essentially chaotic systems and by the way I recommend this.
systems and by the way I recommend this book as the best book on chaos theory by. book as the best book on chaos theory by James Gleick I read this like about 20. James Gleick I read this like about 20 years ago I think was bought it. years ago I think was bought it basically by the way traitor a traitor. basically by the way traitor a traitor you may know Linda Raschke Peter yeah. you may know Linda Raschke Peter yeah man you're welcome market Wizards I. man you're welcome market Wizards I think it was this book market Wizards. think it was this book market Wizards Linda Rashmi says that the reason why. Linda Rashmi says that the reason why she does not project or predict too far. she does not project or predict too far into the future is because of chaos. into the future is because of chaos theory because it puts limitations chaos. theory because it puts limitations chaos theory puts limitations on how far into. theory puts limitations on how far into the future he can predict so she says. the future he can predict so she says look it's better to project into. look it's better to project into near-term as opposed to 2 to long term. near-term as opposed to 2 to long term to long term she says it becomes too. to long term she says it becomes too unpredictable because of chaos theory.
unpredictable because of chaos theory because anything can happen I mean it's. because anything can happen I mean it's the butterfly effect by the way that's. the butterfly effect by the way that's another name for the chaos theories. another name for the chaos theories butterfly effect the butterfly effect. butterfly effect the butterfly effect because it means that a small change it. because it means that a small change it needs a small change in the initial. needs a small change in the initial conditions can lead to massive changes. conditions can lead to massive changes in the future. in the future so the flapping of the wings of a. so the flapping of the wings of a butterfly here could lead to a hurricane.
butterfly here could lead to a hurricane or a tornado in Texas so initial changes. or a tornado in Texas so initial changes small changes can lead to massively. small changes can lead to massively different results but that's my point of. different results but that's my point of view that's why I think there's a major. view that's why I think there's a major problem with projecting too far into the. problem with projecting too far into the future like years ahead that Bitcoin. future like years ahead that Bitcoin could put could reach a million now they. could put could reach a million now they couldn't reach a million I don't know. couldn't reach a million I don't know but I want to hear your point of view. but I want to hear your point of view what is your review Peter Peter Brent.
what is your review Peter Peter Brent what is your view about Bitcoin hitting. what is your view about Bitcoin hitting a million dollars and do you think it's. a million dollars and do you think it's possible or probable. possible or probable and if not what's your point what's your. and if not what's your point what's your view well you know it it could be but I. view well you know it it could be but I need to tell you that I'm personally. need to tell you that I'm personally trained for the 2020 Olympics and. trained for the 2020 Olympics and 100-meter dash and so yeah the cow can. 100-meter dash and so yeah the cow can also jump over the moon you know every. also jump over the moon you know every are you Messi training for the Olympics. are you Messi training for the Olympics I'm making a joke. I'm making a joke it's like anything's possible but is it. it's like anything's possible but is it probable I you know I want to think I'm. probable I you know I want to think I'm a probability thinker in in in in more. a probability thinker in in in in more specifically I'm a Bayesian probability. specifically I'm a Bayesian probability thinker I believe in something called a. thinker I believe in something called a base but those are people who don't know.
base but those are people who don't know could you explain what that is well you. could you explain what that is well you know if I'm gonna make a presupposition. know if I'm gonna make a presupposition that bitcoins going to a million dollars. that bitcoins going to a million dollars it's going to have to verify itself in. it's going to have to verify itself in the process it's not a fixed one-time. the process it's not a fixed one-time one and done probability forecast you. one and done probability forecast you know that III hence for right now. know that III hence for right now predict Bitcoin to a million dollars you. predict Bitcoin to a million dollars you can't do that and they're Bayesian. can't do that and they're Bayesian probability that is just not a statement. probability that is just not a statement that holds together it is a statement.
that holds together it is a statement subject to chaos theory to the butterfly. subject to chaos theory to the butterfly effect because the reality is for. effect because the reality is for Bitcoin to go to million dollars it has. Bitcoin to go to million dollars it has to go to ten thousand first and then it. to go to ten thousand first and then it has to go to twenty thousand that is. has to go to twenty thousand that is actually go to fifty thousand then it. actually go to fifty thousand then it has to go to a hundred thousand as a. has to go to a hundred thousand as a trader I'm not willing I'm not. trader I'm not willing I'm not interested in buying loads and selling. interested in buying loads and selling high as a trader I'm being interested. high as a trader I'm being interested and playing the game using u.s. u.s. and playing the game using u.s. u.s. football not the European or world. football not the European or world football as as a comparison I'm. football as as a comparison I'm interested in playing the game between. interested in playing the game between the 20 or 30 yard lines not from end. the 20 or 30 yard lines not from end zone the end zone and so I just want a. zone the end zone and so I just want a chunk in the middle and so if it goes to. chunk in the middle and so if it goes to a million I don't need to be long here. a million I don't need to be long here at 8,000 and get out in a million just. at 8,000 and get out in a million just give me 60 percent of the distance in. give me 60 percent of the distance in between and I'm just fine with it. between and I'm just fine with it and so in it's going to have to do. and so in it's going to have to do certain things to tell me that it's.
certain things to tell me that it's going to go to a million and give me. going to go to a million and give me opportunities to be along for the ride. opportunities to be along for the ride for 60% of it and so I just think that's. for 60% of it and so I just think that's not the kind of prediction that I make. not the kind of prediction that I make and when I even say that there's a 50%. and when I even say that there's a 50% chance I'm going going to 0 and a 50% of. chance I'm going going to 0 and a 50% of them going to 100,000 the hundred. them going to 100,000 the hundred thousand is not a prediction it's just. thousand is not a prediction it's just something that could happen you know I. something that could happen you know I do not believe in certainties I do not. do not believe in certainties I do not believe actually even in pure. believe actually even in pure probabilities I believe in possibilities. probabilities I believe in possibilities I you know as a trader I'm a possibility.
I you know as a trader I'm a possibility trader I believe in possibilities. trader I believe in possibilities happening I believe it's possible that. happening I believe it's possible that the u.s. corn crops gonna get wiped out. the u.s. corn crops gonna get wiped out this year and you have to be long corn. this year and you have to be long corn that doesn't mean I I'm organized it. that doesn't mean I I'm organized it means that I pointed in one direction. means that I pointed in one direction and now I need to let Bayesian. and now I need to let Bayesian probability verify my position as we go. probability verify my position as we go along and so that that's how I think. along and so that that's how I think when somebody says that point to a. when somebody says that point to a million dollars I'm really interested in. million dollars I'm really interested in to know more about your points about. to know more about your points about probabilities we'll discuss it in a. probabilities we'll discuss it in a separate section a separate video as. separate section a separate video as well I mean I agree with you actually. well I mean I agree with you actually let's go back to something you mentioned. let's go back to something you mentioned I agree with you about one thing on what.
I agree with you about one thing on what Peter just said is a very good point. Peter just said is a very good point which is that first we need to look at. which is that first we need to look at the targets like can Bitcoin first of. the targets like can Bitcoin first of all get above 10,000 that's first event. all get above 10,000 that's first event 10,000 to 15 and the 20,000 once we get. 10,000 to 15 and the 20,000 once we get the 20,000 if we get there. the 20,000 if we get there and let's say we get there in the next. and let's say we get there in the next year or so or 2021 then we can look. year or so or 2021 then we can look towards the next targets 30 40 50 but I. towards the next targets 30 40 50 but I told the agree at Peter trying to make. told the agree at Peter trying to make these kind of projections to a million. these kind of projections to a million dollars by the year 2025 I mean that.
dollars by the year 2025 I mean that totally ignores a lot of things that. totally ignores a lot of things that could happen again the butterfly effect. could happen again the butterfly effect chaos theory for example what it ignores. chaos theory for example what it ignores is this something major could happen in. is this something major could happen in the world in the next couple of years. the world in the next couple of years that could blow that whole projection or. that could blow that whole projection or prediction how do the you know out of. prediction how do the you know out of the blue for example what if there is a. the blue for example what if there is a recession in the next couple of years a. recession in the next couple of years a lot of people think a lot of folks.
lot of people think a lot of folks believe that a lot of actually what a. believe that a lot of actually what a data suggests that we could have a. data suggests that we could have a recession in the next couple of years as. recession in the next couple of years as you've seen in our previous videos we. you've seen in our previous videos we don't know what Bitcoin will do in a. don't know what Bitcoin will do in a recession some people think is gonna go. recession some people think is gonna go up some people think actually a lot of. up some people think actually a lot of the data suggests Bitcoin could go down. the data suggests Bitcoin could go down significantly lower in a recession for. significantly lower in a recession for reasons we explained in a previous video. reasons we explained in a previous video so got to be very careful about your. so got to be very careful about your projections and predictions into the. projections and predictions into the future again Linda Raschke talks about. future again Linda Raschke talks about this I by the way guys make sure you. this I by the way guys make sure you watch the fooling you I've done with.
watch the fooling you I've done with Peter or discuss Bitcoin discuss stock. Peter or discuss Bitcoin discuss stock markets so much stuff currencies a lot. markets so much stuff currencies a lot of great stuff and also guys make sure. of great stuff and also guys make sure you check out Peters websites and. you check out Peters websites and Twitter and YouTube as well I'll put up. Twitter and YouTube as well I'll put up for you in the description and also in. for you in the description and also in the I'll put that in the editing as well. the I'll put that in the editing as well Peters website by the way is Peter L. Peters website by the way is Peter L Brand calm as well so you can check out. Brand calm as well so you can check out and stuff as well so make sure you go. and stuff as well so make sure you go ahead and follow his tweets and. ahead and follow his tweets and subscribe to his channel and check out. subscribe to his channel and check out his website thank you very much guys. his website thank you very much guys join us in the next video with Peters. join us in the next video with Peters but are you really fantastic.
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