https://seekingalpha.com/news/44009...-crypto-bubble-that-could-wreak-havoc-elliott President Trump is inflating a crypto bubble that could cause havoc when it busts, according to hedge fund Elliott in an investor letter, The Financial Times reported. Trump’s extraordinary embrace of cryptocurrencies could fuel a speculative mania that would cause havoc when crypto prices collapse, the letter said. Elliott was critical of the Trump administration for hyping up “assets that have soared in price but have no substance” and of several politicians who are supportive of cryptocurrencies that could rival the U.S. dollar. Elliott “has never seen a market like this”, the hedge fund wrote in the letter. It also mentioned that the AI boom and the extremely high equity market valuations could be signs of investors “acting like a crowd of sports bettors.” The hedge fund said that they see an inevitable collapse of the cryptocurrency bubble that “could wreak havoc in ways we cannot yet anticipate.” Since President Trump’s election win, cryptocurrency prices have rallies on the back of his promise to make the U.S. the bitcoin superpower. Bitcoin (BTC-USD) surged from about $70,000 before November to a record high, surpassing $100,000. It is currently up 11.45% year-to-date so far, after rising more than 146% from a year ago. Trump also signed an executive order to establish a working group that would evaluate the creation of a national digital asset stockpile. The president has also said he wants to protect economic liberty. Elliott’s investor letter questioned why the U.S. would want to encourage alternative currencies when several other countries are trying to wean themselves off the U.S. dollar. “Marginalizing the dollar” is “profoundly dangerous,” the letter said. In January, both Trump and First Lady Melania Trump launched “meme” coins (MELANIA-USD), (PRES-USD). Also, Trump Media (DJT) announced it is expanding beyond social media to launch a financial services business that would invest up to $250M into cryptocurrency and other assets.
Reply to this post is line, below. Post formatting has been changed to facilitate reply: QUOTE="Frederick Foresight, post: 6084962, member: 488296"]https://seekingalpha.com/news/44009...-crypto-bubble-that-could-wreak-havoc-elliott President Trump is inflating a crypto bubble that could cause havoc when it busts, according to hedge fund Elliott in an investor letter, The Financial Times reported. Agreed, although we are probably 2 to 3 years away from the peak. Trump’s extraordinary embrace of cryptocurrencies could fuel a speculative mania that would cause havoc when crypto prices collapse, the letter said. This "havoc" will likely include the diminishing effect of changes in Federal Reserve policy. This will manifest into less confidence in the equities markets and ultimately reduce consumer, investor, and business confidence. Elliott was critical of the Trump administration for hyping up “assets that have soared in price but have no substance” and of several politicians who are supportive of cryptocurrencies that could rival the U.S. dollar. Elliott “has never seen a market like this”, the hedge fund wrote in the letter. It also mentioned that the AI boom and the extremely high equity market valuations could be signs of investors “acting like a crowd of sports bettors.” The hedge fund said that they see an inevitable collapse of the cryptocurrency bubble that “could wreak havoc in ways we cannot yet anticipate.” Since President Trump’s election win, cryptocurrency prices have rallies on the back of his promise to make the U.S. the bitcoin superpower. Bitcoin (BTC-USD) surged from about $70,000 before November to a record high, surpassing $100,000. It is currently up 11.45% year-to-date so far, after rising more than 146% from a year ago. Trump also signed an executive order to establish a working group that would evaluate the creation of a national digital asset stockpile. The president has also said he wants to protect economic liberty. Fundamentally, structurally, competing currencies within a country are unstabilizing. Early in US history, each colony had its own currency before a single currency was ultimately agreed on. Depending on timing of crypto's collapse and public's recognition of those responsible for the fallout, it may affect outcomes in the 2028 elections. Elliott’s investor letter questioned why the U.S. would want to encourage alternative currencies when several other countries are trying to wean themselves off the U.S. dollar. Exactly. “Marginalizing the dollar” is “profoundly dangerous,” the letter said. Increased inflation for starters. In January, both Trump and First Lady Melania Trump launched “meme” coins (MELANIA-USD), (PRES-USD). Also, Trump Media (DJT) announced it is expanding beyond social media to launch a financial services business that would invest up to $250M into cryptocurrency and other assets.[/QUOTE]
99% of you think crypto is only bitcoin. you're clueless. there's so much more. you'll find out in 10+ years
I am waiting patiently for the coming mother-of - mega-tulip-mania. Trading opportunities are always welcomed
Why? What's going to change Bitcoin from being the dominant crypto? Before you reply understand - nuuuuuuuthing - is ever certain.