Bitcoin Price To Double: Here's When $200k Comes | Jason Yanowitz

**Jason Yanowitz** (0:00)
This is clearly the start of a new bull market here. I think my price, I'm looking at Bitcoin crossing 200K in the next, let's call it 18 months. There's a turning point in the industry right now. I would call 2025 a line in the sand moment for the industry. We have now moved into a game of haves and have nots.

**David Lin** (0:20)
Welcome back to the show. You noticed that my background is different because I'm traveling right now. I don't actually have a fireplace at home, but I do for the next couple of days and you'll see me here for the next couple of days. What else is traveling though is Bitcoin. Bitcoin has been traveling higher and the entire crypto markets have been following Bitcoin. Bitcoin has just hit the critical threshold of $80,000.
And importantly, we're here to talk about when Bitcoin will hit $100,000. Probably even more important than that is where this entire new rally is headed into next year. Where will this rally take us? Where will it take cryptos? Which subsectors within crypto will do well? Which will not survive next year? All these questions and more, including why hyperliquid is something to watch right now, will be answered by our next guest, Jason Yanowitz, co-founder of Blockworks. And right now there's a trade actually on Cauchy for when Bitcoin will hit $100,000. And traders are predicting a 29% chance that 100,000 can be reached by January 2027 If you agree with those odds, a $50 trade, a $50 trade can yield a payout of $159, if you turn out to be right, and Bitcoin does hit $100,000 anytime before January 2027
This video is brought to you by and sponsored by Cauchy. It's the largest prediction market in the United States. And unlike a sports book, you're trading peer-to-peer on real world events, from economic data to political outcomes, which means that the price moves on public opinion, not the house. Go to my link in the description down below or scan the QR code to get my access code, LIN. If you use my code LIN, new traders can get $25 when you trade $25.
Cauchy is CFTC approved and available in all 50 states, including California and Texas. Jason, welcome back to the show. Good to see you.

**Jason Yanowitz** (2:12)
It's been a good year. It's been a good year, maybe not for the crypto prices, but it has been a good year for Blockworks and a good year for life. So good to see you, David.

**David Lin** (2:18)
Yeah. Congratulations on everything that you've accomplished this year, including your acquisition of Messari. Now, Bitcoin and crypto, as you said, not a great year so far.
Until now.
What is going on right now? You've been pretty much bullish the entire time I've known you since last year. And admittedly, the market has disappointed a lot of people, I'm assuming yourself as well. But right now, we're in a bit of an upturn, and the question is whether or not this is a fake out, not a real rally. What do you think?

**Jason Yanowitz** (2:47)
Yeah, I think this is clearly the start of a new bull market here. So I think you said people have been disappointed by prices. I'd say traders have been disappointed by prices. I'd say investors are about to be massively rewarded here. So if you look at what's happening, I don't think crypto is reawakening because there's some head fake or some short squeeze here, right? I think it's not moving because retail just rediscovered meme points. It is clearly moving because the macro setup improved at the exact same time that the on-chain economy has become a lot more useful. And so all these things just hit at once, right? I'm sure you've talked at length about what just happened with the Treasury, right? The Treasury doubled the long end of the bond buybacks, kind of revived the debasement trade. You know, Washington has completely flipped their tune on crypto. It went from can this exist to what are the rules of the road, right? ETF inflows are having their biggest week in 10 months. And I think the part that is most interesting, the part that probably your audience is really not tuned into, and the part that I care deeply about is that the on-chain economy has barely contracted, you know, over the last 12 months while Bitcoin fell 50%.
So, you know, stable coins are up to $300 billion in stable coins. Solana just did 4.24 billion non-vote transactions last month. Hyperliquid generated $150 million in quarterly revenue. So I think if you, yes, there were some positions that were off sides, there were $2.7 billion of shorts, you know, that got liquidated. So, yes, there was definitely a squeeze higher, but I wouldn't say the squeeze was the ignition.