I warned for over a year now and still no one listens. I'll say again and again...Bitcoin is worthless internet money created by some Japanese dude as the largest and longest Ponzi scheme in the history of mankind. What you are now witnessing, is the total collapse of the crypto market in the making passing the point of no return. FTX is on the way out, and I can see the final safe haven exchanges like Coinbase and Binance will be the next and last to bit the dust in the coming days. When that happens, and there are literally no exchanges left in the world, ALL crypto assets will be worth nothing as it is impossible for those so called "diamond handed HODLers" to exchange it for precious fiat currency.
Meanwhile, those who are financially intelligent and holding 100% cash positions, are making bank...literally. The current federal funds rate is 4%, and I have no doubt that by the year 2031, which coincides with the Feds clearing their entire $9T balance sheet thru quantative tightening, our interest rate could be at least 40%. Read my TA on the charts which compare the glorious DXY to the dying BTC and draw some pretty self-explainatory comparisons...cash is king, bitcoin is trash. By 2031, most companies will collapse, and the surviving blue chip companies would be lucky that their stocks did not fall over 99%, but I will be enjoying my penthouse apartment in NYC for only $1000 a month, drinking a bottle of Johnny Walker for $0.05 while I watch you moon boys live in cardboard boxes down on the sidewalk.
Meanwhile, those who are financially intelligent and holding 100% cash positions, are making bank...literally. The current federal funds rate is 4%, and I have no doubt that by the year 2031, which coincides with the Feds clearing their entire $9T balance sheet thru quantative tightening, our interest rate could be at least 40%. Read my TA on the charts which compare the glorious DXY to the dying BTC and draw some pretty self-explainatory comparisons...cash is king, bitcoin is trash. By 2031, most companies will collapse, and the surviving blue chip companies would be lucky that their stocks did not fall over 99%, but I will be enjoying my penthouse apartment in NYC for only $1000 a month, drinking a bottle of Johnny Walker for $0.05 while I watch you moon boys live in cardboard boxes down on the sidewalk.