There's a high probability that we see a 10k bitcoin come February. I'm open to being wrong, and i gain nothing in being right. This is not indicative of a crypto winter... but rather "slowing" of mass adoption. The exodus from the crypto markets has a lot too do w/ the FTX scandal... everyones examining the fact that SBF is still free, & DoKwon (Luna) are both free.... for discussion its drawn scrutiny too;
- REN BTC not being able to cover the wrapped BTC (users will get trapped)
- News broke that FTX tried to build a billion dollar bitcoin mining operation to cover yield... got rekt trying to game the market and literally lossed the bitcoin he gambled with. That was FTX users bitcoin.
- When we examined the FTX vs CELSIUS Collapse.... you would throw up... a whole new can of worms got exposed.
DEVELOPING:
- Where were the regulators? Some say Gensler may try to over-regulate too make himself appear competent despite his ex-MIT protegè Sam Bankman-Fried making him look foolish. No reprocussions, no extraditions, yet the CFTC did not oversee or regulate... the authority under which FTX reported to could have kicked this house of cards in at anytime....
I must say had Sam Bankman-Fried been as black as Arthur Hayes... 😳... US gov put Arthur on the cross.
SBF is literally playing league of legends in $30M mansion living his best life care free w/ mom & dad lawyers.
BIG MARKET NAMES UNDER SCRUTINY:
- Grayscale refuses to publish proof of reserves
- Genesis is affected by the contagion
- Blockifi (BANKRUPT)
- GEMINI (faces many questions)
MINERS: If there aren't transactions to process (slowed demand) than regardless electric bills gotta get paid. Profits have to be taken... so price depreciation will happen at a rate greater than the interest expressed by market. Miners have to reduce price to $10k in order to create a "pricing" dynamic that garners interest from retail. 10k is february.... if we don't bounce up from 10k... we could crabwalk, or we could "riptide" too 5k.
This isn't doom & gloom. Its just range of probability.
I would much prefer to be wrong.
- REN BTC not being able to cover the wrapped BTC (users will get trapped)
- News broke that FTX tried to build a billion dollar bitcoin mining operation to cover yield... got rekt trying to game the market and literally lossed the bitcoin he gambled with. That was FTX users bitcoin.
- When we examined the FTX vs CELSIUS Collapse.... you would throw up... a whole new can of worms got exposed.
DEVELOPING:
- Where were the regulators? Some say Gensler may try to over-regulate too make himself appear competent despite his ex-MIT protegè Sam Bankman-Fried making him look foolish. No reprocussions, no extraditions, yet the CFTC did not oversee or regulate... the authority under which FTX reported to could have kicked this house of cards in at anytime....
I must say had Sam Bankman-Fried been as black as Arthur Hayes... 😳... US gov put Arthur on the cross.
SBF is literally playing league of legends in $30M mansion living his best life care free w/ mom & dad lawyers.
BIG MARKET NAMES UNDER SCRUTINY:
- Grayscale refuses to publish proof of reserves
- Genesis is affected by the contagion
- Blockifi (BANKRUPT)
- GEMINI (faces many questions)
MINERS: If there aren't transactions to process (slowed demand) than regardless electric bills gotta get paid. Profits have to be taken... so price depreciation will happen at a rate greater than the interest expressed by market. Miners have to reduce price to $10k in order to create a "pricing" dynamic that garners interest from retail. 10k is february.... if we don't bounce up from 10k... we could crabwalk, or we could "riptide" too 5k.
This isn't doom & gloom. Its just range of probability.
I would much prefer to be wrong.
Everyday above ground is a blessing we often take for granted... remember to go outside and touch grass.
- God Bless
- God Bless