Can Bitcoin Retake $20K?

Published on
June 18th, 2019
16 minutes

Can Bitcoin Retake $20K?

Trade Ideas ·
Featuring David Levine

Published on: June 18th, 2019 • Duration: 16 minutes

David Levine, founder of Odin River, sees a potential opportunity to profit from one of the most controversial technologies in the world: Bitcoin. He discusses why bitcoin should break through its all-time highs, reviews his outlook for how a market crash could impact bitcoin, and discusses the downside risk for owning the cryptocurrency, in this interview with Jake Merl. Filmed on June 17, 2019.



  • GF
    Gordon F.
    19 June 2019 @ 03:51
    Bitcoin has been through three cycles so far. On the first one, it rose from $.06 to $24, a rise of 400X. It then dropped back to around $2.40 to form a low, and topped out at $1020, for a 425X rise from its interim low. It then dropped back to $220 before heading up to nearly $20,000, for a 90X rise from its interim low. If we assume that the interim low is in, around $3,200, the three data points we have indicate that Bitcoin could top out on this cycle somewhere between $250K and $1 million. Do I think it will rise that high? Who knows? I recall thinking when it hit $.50 on the first cycle, that it was already too high to get in. Likewise on the second cycle, when it broke above the previous high of $24, it was too late. This time I splurged and bought 1 Bitcoin when prices seemed to have bottomed around $3500, and I'm just holding it for now. When will I sell? I have no clue. Based on past experience, probably when it is 30-50% off its highs on the way down on the other side, but if the top is as high as history indicates it might go, I'll still do OK. If not, well, it's a small position in my portfolio.
    • JS
      Jon S.
      23 August 2020 @ 09:13
      This is the proper mindset.
  • sw
    stefan w.
    20 May 2020 @ 14:46
    loved this comment: Bitcoin is a call option on the underlying technology and its potential, and it is a put option on fiat currencies...
  • WW
    Woody W.
    23 April 2020 @ 04:43
    This is a good interview. Make more Bitcoin interviews like this please !!!!!!!!!!!!!!!!!!!!!!
  • DP
    Devraj P.
    18 June 2019 @ 14:54
    If one is not confident on Central Bank with years of experience how he/she can trust crypto. How likely more BTC will not printed ? Mastermind at work to misguide next generation and they will succeed by constantly propagating wishful agenda of changing safe assets for gold to bitcoin Bitcoin don’t exist without computers and internet while gold does πŸ˜‚πŸ˜‚πŸ’«
    • LS
      Laurenz S.
      19 June 2019 @ 08:09
      Look up dunning Kruger effect
    • CT
      Crispim T.
      14 October 2019 @ 00:06
      Central Banks are a plague. Read Saifedean Ammous and Andreas Antonopolous.
  • CT
    Crispim T.
    14 October 2019 @ 00:05
    Research PlanB's stock-to-flow articles if you want to know how Bitcoin is more likely to evolve in the next 10+ years.
  • SM
    Stephane M.
    18 June 2019 @ 09:51
    Get real... A crypto week after a 300% POP!! Where were they when Bitcoin was ar 3k?!?!??
    • WV
      Walter V.
      18 June 2019 @ 13:58
      5x upside 50% downside and tiny position? why bother
    • NT
      Nic T.
      21 June 2019 @ 22:19
      The answer is clear - size your position to where it is worth bothering ;) . Personally I see the value of the fiat put increasing by the day and BTC as one of the only assets that has a chance of, at the very least, preserving your wealth while the the whole world does its best to inflate away its debts. If you think that is not the end game here you are not looking closely enough.
  • RJ
    Russ J.
    21 June 2019 @ 10:50
    I want more bitcoin interviews/intel, I just found this interview to be scant of anything new.
  • KC
    Kirk C.
    19 June 2019 @ 13:00
    'I do not like talking publicly about it because it is not very secure' - nothing else need be said!
  • MC
    Marc C.
    19 June 2019 @ 08:22
    David Levine offers a well informed and sane view on Bitcoin, perhaps lending some balance to the rest of the week's fare.
  • DL
    David L.
    18 June 2019 @ 12:40
    So, kind of like a lottery ticket?
    • LS
      Laurenz S.
      19 June 2019 @ 08:10
      In a way yes. It is basically an option, redeemable for big wealth if the current financial system collapses
  • JA
    Jernej A.
    18 June 2019 @ 17:38
    Extremely informative interview. Its clear that David is very knowledgeable on the topic.
  • DP
    Devraj P.
    18 June 2019 @ 14:57
    Many government will ban coins as they deemed necessary when time comes so unless buying hype and speculation not really an asset class to remain long investment
  • SS
    S S.
    18 June 2019 @ 12:56
    I think we hit 3-4000USD before hitting 50,000USD, so i'll be patient and wait for the next major drop.