2023 had been the biggest sucker rally/bull trap that the market has ever seen. Under NO logical circumstance was a highly speculative unregistered security "asset" was even supposed to go up, other than that it was driven by media hype and market manipulation on an unprecedented scale. But I can promise you, all of this will come to an end next year.
Now your argument for next year is "Bitcoin ETF getting approved...BlackRock buying...blah blah blah..." first of all, the SEC had delayed ETF applications for years and years. The market has factored in a 100% chance of approval, when in reality, it is extremely likely that Gary Gensler is simply consolidating all of the applications together, to DENY them all at once. That will guarantee the final nail in the Bitcoin and crypto coffin, and you will see your holdings go straight to zero.
If this is not enough for you to second doubt, your next argument is that the US Dollar has been going down, macroeconomics is improving, Federal Reserve is about to cut interest rates. I'll have to rain on your hopium parade: We are still in a period of Quantitive Tightening. $95 Billion of the balance sheet is rolled off monthly, with no end in sight. And no, the Feds are not firing up their money printer anytime. The M1 money supply is actually coming down, making the US Dollar deflationary for the first time in history.
Lastly, I want to talk about the DXY. The green back did not do as well as I expected it would this year, even all technical analysis pointed that it should. There is a lot of market manipulation going on behind the scene and lag effects of the Fed's hiking interest rate. But this is the only thing on TradingView that I strongly urge you all to BTFD! I am extremely bullish on DXY, because I still believe that the majority is wrong. Jerome Powell CLEARLY stated that he won't hesitate to tighten if necessary, so what's gonna stop him from raising interest rates by anther 2-5% this year? What if inflation reaccelerated like what happened in the late 70s?
And to quote legendary investor Dan Pena, a brilliant man that the delusional crypto community loves to use as a punching bag...Bitcoin will go to ZERO.
Happy holidays and a happy new year. #HODLUSD and nothing else.
Now your argument for next year is "Bitcoin ETF getting approved...BlackRock buying...blah blah blah..." first of all, the SEC had delayed ETF applications for years and years. The market has factored in a 100% chance of approval, when in reality, it is extremely likely that Gary Gensler is simply consolidating all of the applications together, to DENY them all at once. That will guarantee the final nail in the Bitcoin and crypto coffin, and you will see your holdings go straight to zero.
If this is not enough for you to second doubt, your next argument is that the US Dollar has been going down, macroeconomics is improving, Federal Reserve is about to cut interest rates. I'll have to rain on your hopium parade: We are still in a period of Quantitive Tightening. $95 Billion of the balance sheet is rolled off monthly, with no end in sight. And no, the Feds are not firing up their money printer anytime. The M1 money supply is actually coming down, making the US Dollar deflationary for the first time in history.
Lastly, I want to talk about the DXY. The green back did not do as well as I expected it would this year, even all technical analysis pointed that it should. There is a lot of market manipulation going on behind the scene and lag effects of the Fed's hiking interest rate. But this is the only thing on TradingView that I strongly urge you all to BTFD! I am extremely bullish on DXY, because I still believe that the majority is wrong. Jerome Powell CLEARLY stated that he won't hesitate to tighten if necessary, so what's gonna stop him from raising interest rates by anther 2-5% this year? What if inflation reaccelerated like what happened in the late 70s?
And to quote legendary investor Dan Pena, a brilliant man that the delusional crypto community loves to use as a punching bag...Bitcoin will go to ZERO.
Happy holidays and a happy new year. #HODLUSD and nothing else.