Short

Silvergate implosion just cancelled Bitcoin Bull

Updated

cnbc.com/2023/03/08/silvergate-shutting-down-operations-and-liquidating-bank.html

I have always warned of the shitcoin implosion. Everything is a security/scam/only there to get your Corn, the only 'crypto' that will ever retain/gain value is Bitcoin.

Bummer, but great opportunity coming up.

ps. YW when my first bearish post has us bounce.

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so many longs to wipe out coinalyze.net/bitcoin/usd/bybit/long-short-ratio-chart/btcusd_glsra/

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careful with your fomo on this bounce right now. SVB could make Bitcoin pump crazy or it could just be good FUD to trap a lot of people. Not like fresh money can be wired to buy Bitcoin right now.

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If we can close daily 23.3- 24k we're setting up a crazy bull run. GD this is exciting. Be cautious here.

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The huge confidence shock for institutional banking just 24 hours after silvergate failure is quite insane when you think about it.

Realistically, this is the first time anyone in USA has ever had a confidence banking crisis since centralized banking was introduced. 2008 was a literal failure, this time is very different. Why? Because this was a bank run, which verified the cracks within the fractural lending system.

There is no question in anyone's mind that they need to diversify their holdings, even tho we have a 'backstop' in place from the FDIC and federal reserve. The entire idea will spread like wildfire that you're company/personal/property assets can be locked at any second if deemed reasonable by authorities.

We almost spiraled in to a situation that companies which were profitable, creating jobs, and growing were going to miss payroll and essentially shut down because their only mistake was using a bank.

This is the exactly moment Bitcoin was made for, and it's only going to get a fuck ton crazier from here. New pub to come soon. be safe, hodl, self custody.

faboose

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