It is unthinkable - right? Well...
Lets consider some issues.
Technically, its possible. The graph shows a price action that takes us down....the little graph to the right showd the 50% mark between 0 and 1,618 retracement going to $290.
And here is the rub. The US is failing the Corona virus test. Latest reports out of Italy are seeing younger age groups dying. Especially, obese and diabetics. In fact it seems, victims of the poor western diet. They have failed to lockdown and are still transmitting inter state via air travel. Expect number of cases to exceed all other countries by the end of this week. Expect death rates to go through the roof. Expect Wall street to crash then close as DJI goes sub 10K. The UK will go the same way, only the figures will reflect the different population sizes. Its interesting to note that the two major western economies that are governed by right wing parties are the only two that are not locking down their countries....is it money before health until its too late to choose?
Welcome to the entirely feasible armageddon scenario, economically that is. Global economies overwelmed already by too much debt are already throwing an unlimited amount of more debt at the problem in an attempt to hold up public confidence. Question is...who is going to buy the debt? No one is immune...noone is thriving. China may have escaped the worst of the virus but will be hit hard when a locked down USA no longer wants or needs the goods its manufacturing. They may not be so inclined to keep buying US Treasuries. Will then the US have the resources to bail out multi billion dollar corporations and banks. They will have to choose between what is necessary and who is expendable. We are not looking at a recession...we are looking at depression that will make the dust bowl of the 30s look like a walk in the park. And people were a lot more resilient back then!
So, is a $300 BTC price possible. Yes. We were there in 2015....when the DJI busted through 10K
Is is probable? .......how many whales heading for the exit will it take?
Personally, I think blockchain is here to stay. but dont be surprised if we go back to the early days and have to build again.
PS The China Syndrome...Jack lemon movie about a nuclear plant meltdown...where the core literally drops through the floor all the way to China!...great flick!
Lets consider some issues.
Technically, its possible. The graph shows a price action that takes us down....the little graph to the right showd the 50% mark between 0 and 1,618 retracement going to $290.
And here is the rub. The US is failing the Corona virus test. Latest reports out of Italy are seeing younger age groups dying. Especially, obese and diabetics. In fact it seems, victims of the poor western diet. They have failed to lockdown and are still transmitting inter state via air travel. Expect number of cases to exceed all other countries by the end of this week. Expect death rates to go through the roof. Expect Wall street to crash then close as DJI goes sub 10K. The UK will go the same way, only the figures will reflect the different population sizes. Its interesting to note that the two major western economies that are governed by right wing parties are the only two that are not locking down their countries....is it money before health until its too late to choose?
Welcome to the entirely feasible armageddon scenario, economically that is. Global economies overwelmed already by too much debt are already throwing an unlimited amount of more debt at the problem in an attempt to hold up public confidence. Question is...who is going to buy the debt? No one is immune...noone is thriving. China may have escaped the worst of the virus but will be hit hard when a locked down USA no longer wants or needs the goods its manufacturing. They may not be so inclined to keep buying US Treasuries. Will then the US have the resources to bail out multi billion dollar corporations and banks. They will have to choose between what is necessary and who is expendable. We are not looking at a recession...we are looking at depression that will make the dust bowl of the 30s look like a walk in the park. And people were a lot more resilient back then!
So, is a $300 BTC price possible. Yes. We were there in 2015....when the DJI busted through 10K
Is is probable? .......how many whales heading for the exit will it take?
Personally, I think blockchain is here to stay. but dont be surprised if we go back to the early days and have to build again.
PS The China Syndrome...Jack lemon movie about a nuclear plant meltdown...where the core literally drops through the floor all the way to China!...great flick!