Did you sell when Coinbase CEO was in the headlines or did you fall for the bullish narrative again? Seems like bulls just had their balls cut off! START PRAYING like there is no tomorrow and if the god is merciful you might get another exit pump.
Chinese indices are mooning like crazy and even commodities like copper are ROCKETEERING. Where is the spirit of the bitcoin bulls??? Something seems deeply wrong here. I think this ponzi scheme is BEYOND fucked, but given the conditions i will give bulls the benefit of a doubt for another exit pump.
China recently had their own Lehman moment/Minsky moment.... and their Fed put just came to the rescue. So assets will GO back UP. This was expected, so why are you confused by this? Much of the fed-put in China is expected to eventually make its over to the West and inflate assets here as well, which historically is what happens. Copper goes up because it is needed for the AI bubble... in massive quantities. You forgot again that it works by supply and demand? That said, copper may be volatile for some time yet-- if Nvidia has just one bad earnings report... WATCH OUT!
What are you on about again? What narrative did we fall for? The war in the M-East just went into hyperescalation, vix shot up, so of course markets went more volatile. As I laid out in my journal, I already closed the last of my short-puts and got out flat on COIN a few weeks ago. I decided to crystalize profits earlier to lighten the load of my ship as the worry of the war escalating even further was bothering me. We already have two theaters of war operating for well over a year, and another more than likely to kick off, which puts us here on the map: Middle East Europe Asia This has been one of the tail-risks which is why I've been trying to lighten the load.
From MarketWatch: The ‘debasement trade’ boosting bitcoin and gold may continue, says JPMorgan Gold has appreciated more than what would have been expected by changes in the inflation-adjusted 10-year yield, analysts say By Steve Goldstein Published: Oct. 3, 2024 at 6:38 a.m. ET The alternatives to the U.S. dollar haven’t responded well to the latest Iran-Israel fighting, with gold GC00 -0.11% roughly flat and bitcoin BTCUSD 0.22% down 3% since the point where oil prices started spiking higher. But gold has still seen record highs. Strategists at JPMorgan led by Nikolaos Panigirtzoglou say gold has gone well beyond moves implied by dollar and real bond yield shifts. Instead, it has been driven by what’s called the debasement trade. “The ‘debasement trade’ is a term that reflects a combination of gold demand factors which in our client conversations range from structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about ‘debt debasement’ due to persistently high government deficits across major economies, to waning confidence in fiat currencies in certain emerging markets, and to a broader diversification away from the dollar,” the strategists say. These are all views, it should be said, that have been expressed for years — but gold around $2,700 an ounce and bitcoin around $60,000 give them new currency, so to speak.
I hate this ponzi scheme from the bottom of my guts... But the unfortunate reality is that people are hoarding toilet paper again... and that usually happens at bottom. REALLY SCARED they pump this ponzi scam over all time highs and even crappier dogcoins again (given that elon musk is tweeting about it and they are at supports). Fuck this shit.
The bus to the Uptober station had a flat tire and experiencing a slight delay, but make no mistake, bitcoin is going on a hypersonic ballistic train to the moon Enjoy the ride!!!!