FED RESERVE 2.0 meets Mt. Gox 2.0
Updated
Please be weary and aware of the sandbox you are playing in. The prices of not only bitcoin, but cryptos in general are being manipulated by exchanges via Tether. Tether is not redeemable for USD but it certainly masquerades as the dollar. Even following the dollars mantra... endless money printing with little to no concern about its effect on our crypto economy as a whole.
Yesterday 70 Million Tethers were added to the circulating supply! Tether is growing at faster percentage points then BTC. This is a major concern. Bitcoin is and was to remain as far removed from endless fiat as possible. Apparently greed has sunken its teeth into our "decentralized" peer to peer economy built on none other than "Trust"
I love bitcoin as much as anyone here. Unfortunately real adoption has not taken place. Instead mass speculation is reaching all time highs while the viability and everyday use cases for bitcoin diminish....
Can Bitcoin reach 10 k ? Yes ! It can also retrace to 4-5k in a matter of 24-48 hrs. Its all about risk vs reward. I am sorry but its just not there.
CME is probably NOT going to be beneficial to BTC. If we had a healthy correction, I could see wall street getting behind a long position. However, at these levels big (smart) money will more likely being going short. To quote the CME... "We will tame Bitcoin". Tame is not synonymous with bull in my book. If any of you have any understanding of macro economics you will know the futures markets and commodities have a nefarious reputation to say the least. Futures markets have being used against commodities to target regions, economies, and ideals. You have been warned
Yesterday 70 Million Tethers were added to the circulating supply! Tether is growing at faster percentage points then BTC. This is a major concern. Bitcoin is and was to remain as far removed from endless fiat as possible. Apparently greed has sunken its teeth into our "decentralized" peer to peer economy built on none other than "Trust"
I love bitcoin as much as anyone here. Unfortunately real adoption has not taken place. Instead mass speculation is reaching all time highs while the viability and everyday use cases for bitcoin diminish....
Can Bitcoin reach 10 k ? Yes ! It can also retrace to 4-5k in a matter of 24-48 hrs. Its all about risk vs reward. I am sorry but its just not there.
CME is probably NOT going to be beneficial to BTC. If we had a healthy correction, I could see wall street getting behind a long position. However, at these levels big (smart) money will more likely being going short. To quote the CME... "We will tame Bitcoin". Tame is not synonymous with bull in my book. If any of you have any understanding of macro economics you will know the futures markets and commodities have a nefarious reputation to say the least. Futures markets have being used against commodities to target regions, economies, and ideals. You have been warned
Note
$30 million dollar Tether hack. Cracks starting to show... Told ya ; )Note
George Soros has announced his intention to short BTC when the futures markets open. If anybody wants to compare his net worth to BTC's market cap be my guest...Note
I am expecting the big (short) players to let BTC ride to 10k before pulling the rug....Trade active
BTC price has skyrocketed the past two weeks. This is due to massive OTC purchases by large players and institutions. My point of view on this has not changed... despite the fact I got the specific price point wrongNote
lol
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