Ok, ok...I know that my previous predictions about Bitcoin going to zero was slightly off, but that does not change the fact that this FOMO driven rally (which has NOTHING to do with market fundamentals, by the way) will eventually stop, sooner or later.
The only reason that the cryptocurrency market is defying all logic is the sheer fact that crypto bulls, even after two years of getting rekt, still refuse to give up. Their next illogical speculation is that the SEC will approve Spot Bitcoin ETF's in January. This is why Bitcoin crashing to zero is simply postponed a little, to February 1, 2024...because Gary Gensler will do the RIGHT thing for all the responsible market participants, and deny ALL of these ridiculous applications in one sitting.
Crypto bulls, I implore you. Just because the Fed's stopped hiking interest rates for a few months DOES NOT mean that they will stop hiking in the years to come. Have we forgotten that we are STILL in a cycle of quantitive easing, and seeing the supply of the M2 going down?
You still still stay in the safety of the US dollar. The DXY will bounce very soon and by next year will new new ATH's. The US dollar is not going anywhere until at least 2031. It is the only thing safe to invest for the remaining of the decade!
The only reason that the cryptocurrency market is defying all logic is the sheer fact that crypto bulls, even after two years of getting rekt, still refuse to give up. Their next illogical speculation is that the SEC will approve Spot Bitcoin ETF's in January. This is why Bitcoin crashing to zero is simply postponed a little, to February 1, 2024...because Gary Gensler will do the RIGHT thing for all the responsible market participants, and deny ALL of these ridiculous applications in one sitting.
Crypto bulls, I implore you. Just because the Fed's stopped hiking interest rates for a few months DOES NOT mean that they will stop hiking in the years to come. Have we forgotten that we are STILL in a cycle of quantitive easing, and seeing the supply of the M2 going down?
You still still stay in the safety of the US dollar. The DXY will bounce very soon and by next year will new new ATH's. The US dollar is not going anywhere until at least 2031. It is the only thing safe to invest for the remaining of the decade!