bitcoin will be at 10k by the end of 2022, i am too annoyed to explain why, but it's obvious anyway. sell the ponzi buy it back cheaper ya? Buy a year worth of food supply for global economic crisis. You can't eat bitcoin.
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this is a general direction mfers don't mean you not gonna have bounces here and there, do small time frame TA if you wanna trade the ponzi.
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momma tether gonna kill ya
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i grave dance on george's crypto rus channel all the time
I am willing to bet you 1 bitcoin that you're incorrect.
CryptoTradingMania
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@WhiteJesus, I would bet but unless we make a smart contract u not paying lol. btw i been bearish since december u can see it on my posts. not bearish for no reason.
WhiteJesus
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@CryptoTradingMania, lol you got me. I know you're not bearish for no reason but I am interested to see how this pans out.
USDOLLARISKING
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@WhiteJesus I am also willing to bet that your Bitcoin will be worth less than the transaction fee you paid to buy them on soon to be MtGox'ed Coinbase. There is still room on the US Dollar lifeboat but won't be for long.
WhiteJesus
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@USDOLLARISKING, Did you just refer to the soon to be hyper inflated US dollar as a lifeboat? That's a good one lol.
CryptoTradingMania
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@WhiteJesus, there is a global dollar shortage only few educated ones understand, we are in the middle of eurodollar #5 crisis. Dollar is the strongest during tightening, and only gonna get stronger. Dollar is not hyperinflation. Commodities are hyperinflation due to shortages caused by realistic supply chain issues that stem from bad international relationship between world's superpower. As financial system get tightened it's harder to borrow money, there is less of it in the system, as the meaning issues during QE as debt becomes locked up in assets and flows back straight to the top. QE money is gone, boom cycle is finished, melt up was last year when we had 30% pump on SnP and million percent pump on Bitcoin. Bitcoin is basically a stock a security, if it was a hedge against everything u Bitcoin heads talk about then why perfectly follow major us indexes like a copy cat. Bitcoin is a good gamble at 10k-12k but not now. Technical 30k support will not hold I stock market does another 30% down. Only few understand this. We are in busy officially. SnP officially -20% down bear market. All that keeps us from announcing recession is waiting for next quarter GDP growth that has to be negative for second quarter which I assure will be due to shit earnings, shit spending on survival, as food prices are hyperinflation due to huge fertilizer and wheat corn shortage. Are we fucked yes? Is dollar going to dissapear? no.
WhiteJesus
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@CryptoTradingMania, Very well said! I made my statement regarding inflation based on the fact that 80% of US dollars in existence have been printed in the last 2 years. When it comes to commodities, would you attribute the price increases to poor international relationships? or a surplus of US dollars in circulation with limited goods for them to chase? Wealthy individuals are desperate to find hedges against inflation right now hence demand in commodities has gone up. Lots of this newly printed money also made its way into stocks and crypto as well. I work as a mortgage banker and the reason we see the rates hiking is because the fed is attempting to curb spending, in turn offsetting the inflation rate (a futile effort as we don't even know what the true inflation rate is at). It absolutely is getting harder to borrow money but I don't think it's because there is a shortage of US dollars. It's due to regulators using the limited tools they have. I think a recession will ultimately be what is needed to get things back on track but it won't be done organically, it will be induced. If you see my latest BTC idea I have 10-20k on the table for possible price action. This is due to many factors, from the correlation to the stock market to the need for a test of support at these levels we have yet to have. That being said, I still do think that it is possible for the stock market/crypto to maintain a little better than most are expecting through the events we are about to see unfold globally. I also think you are 100% correct to say that the US dollar will not disappear. I am going to look at the dxy and learn more about how you came to your conclusions.
Cheers!
CryptoTradingMania
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@WhiteJesus, Before we go into the details, I would like to say that I appreciate the fact that we both agree on recession being purposefully induced. But back to the important things, very good question and perhaps the most important one to prove my point "When it comes to commodities, would you attribute the price increases to poor international relationships?" And believe it or not I answer Absolutely YES. Let's talk grain India having crops being scorched in the hottest sun in decades, As Russians shut down food exports, and china did as well (with their fake zero COVID policy), While Ukraine south region where most farms are located are being occupied by russians. World food supply is absolutely halted as grain not just feeds us, it also feeds the chickens, the cow, and all other animals we eat, affecting prices obnoxiously in the food industry. Next Oil, perhaps the last pump before every recession that marks the end of the good times is the great pump of oil. Now oil supply chain has been halted by Biden's destruction of our energy infrastructure with the green deal, same as Europe by the way (Democrats like expensive green), while Russians refuse to share their black gold. Talking about gold and silver, if inflation is so great why gold hasn't done anything? Gold was at 1700 in may 2020 when debt issuance frenzy started (remember it's not really printing), and now gold at 1862. So then maybe bonds? When 30 year topped out at 3%. No not bonds. Why? Because bond market knows this short term inflation frenzy will quickly turn to deflation, and we will unwind hard and the rate of 3% will most certainly make profit over the quick to drop level of inflation. So there it is commodities are nearly affected by our monetary policy, truly hard to believe that man that falls from airplane stairs didn't lie. Don't forget that when you hit your credit card limit and can't borrow anymore you will have to start selling the same assets that you bought on debt, to pay off the interest payments on your debt. In regards to the global dollar shortage, you'll have to do deep research it's a real issue currently, but is truly serious that you can see impacting a lot of other global countries suffering tremendously from that imbalance of not having enough us dollars.
WhiteJesus
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@CryptoTradingMania, I want to thank you for the breakdown. I knew we were facing supply chain issues but I didn't think that things were as serious as they are. I saw a video posted buy Coin Bureau just yesterday and it outlined everything (almost as clearly as you did).
Watch this video, this is the most entertaining the most interesting and short explanation for what's going on in the world. Watch it I promise you won't regret 8 min of your life. Major power shift is happening in the world, it's the west vs communism/socialism. And it's extremely serious. Remember a lot of things governments do on an international level are not really talked about and understood by general public so that's something you have to infer based on theory that can be justified by how It benefits the country, and if it has a track record of doing something in the past, so you can infer what's the likelihood of your theory. That's how I knew December was the end and started shorting then. By analyzing and inferring the most reasonable outcome. Once you watch the video, ask yourself a question, what will happen if China really succeeds at what they are trying to do? Remember, United States is the middleman of the world, we don't produce, we only consume, we are a slezy salesman, but what happens to the middle man, when the manufacturer decides to do dirty business directly with world's 3rd world countries, taking their natural resources straight to china, manufacturing and selling back to the world? What will happen? China will prosper, china will be in control of the world, while USA the world's middleman, will lose it's power. There is a big chance we are on a verge of losing that power rn, and this can be worse than 1929, if we can not extort other country's natural resources and then sell it back to the world. Watch the vid you'll see what i am talking about.