Idea for Bitcoin: - Bitcoin appears to have reached the end of this Ponzi Cycle and the distribution of excess is complete. - Speculate a 6k~ bottom. - Traders will be fortunate to observe a full bubble cycle of Bitcoin, as I did in 2017.
GLHF - DPT
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Bitcoin suffered a massive sell-off the first time bearish technicals appeared. This tells me that institutional investors were the driving force of this market.
It is likely that institutions will not return until a return of bullish technicals.
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"In the case of the 2008 crash, the fictitious capital was house prices. These were bid up way beyond their real value by over-geared borrowers wielding their non-conforming loans.
After the crash, the U.S. Federal Reserve, instead of allowing the credit markets to find their own equilibrium, began offering credit at 0 percent. As Japan discovered in the 1990s, prescribing whiskey to cure a hangover simply leads to lost decades."
- Matthew Bransgrove, Principles of Good Government
What is Bitcoin? What is DOGE? It is fictitious capital.
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G7 Summit this weekend, and Biden seeks to make cryptocurrencies a priority due to their role in cyberattacks: