BITCASINO: The Secret To Effortless Wealth

The thing all dunces have in common is that they always assume there's an even bigger dunce to come later...

It should come as no surprise that a society which believes that printing money is the secret to effortless wealth, would now turn to ponzi crypto-currencies to propel their fake wealth even higher. I wonder how many Dow casino gamblers realize that they have massive exposure to Bitcoin and Titcoin...

Here we see that Bitcoin is the new "safe haven" for countries concerned about war with North Korea:

"The vast majority of investors in Japan, South Korea, and China are extremely conservative with their investments and skeptical toward allocating capital to new asset classes. But, over the past three years, Bitcoin and cryptocurrencies have become mainstream assets in the Japanese market and consequently, Japan has evolved into the largest Bitcoin exchange market ahead of the US.

Currently the Japanese Bitcoin exchange market accounts for 61.23 percent of global Bitcoin trades, more than twice of the trading volume of the US market."

“Japanese people tend to be very conservative with their investments, but once they get triggered they go all in.”

“Word just spreads really fast in Korea. Once people are invested, they want everyone else to join the party. There’s been this huge, almost a community movement around this.”

It also should come as no surprise that during the past three weeks that Wall Street put on the most risk exposure since 2007, their favourite holding, Bitcoin, has surged 60% (~28,000% annualized). After all, what better way is there to "catch up" from a year of underperformance than to buy the highest performing asset. Only Wall Street has the kind of firepower to reverse an asset of this market cap which was in free-fall just three weeks ago:

Now is where it gets interesting, because failure to take out the 5,000 top hit in late August sets up for a very rapid third wave down. Which is what the overlapping retracement on the right shoulder seems to suggest:

And if that happens, depending upon how these funds are leveraged, if they can't liquidate their Bitcoin holdings fast enough, they may have to sell down their "other" assets. 

Then of course, there are the Bitcoin mining stocks such as Nvidia, AMD, Micron, and most recently Intel, which have been going parabolic lately. Those are also tied into the fate of Bitcoin. 

"Nvidia, AMD, Intel, Micron are among favorites of analysts"

Semiconductors are the only thing keeping the Nasdaq from final imploding. Bitcoin takes down semis, takes down NDX, takes down S&P 500...

In short, there over 1,000 crypto-currencies and growing by the day, and now there are at least 50 hedge funds planned:

The thing about going ALL IN, is that you can only do it once...

Bear in mind that most people buy Ethereum and other "Altcoins", using Bitcoin

So when Bitcoin goes into wave 3, so will about a thousand other crypto-currencies...

Fortunately, they can always liquidate their record volatility short position to raise capital. At which point the globalized Ponzi scheme will cease to exist...