For a society in abject denial about absolutely everything from the environment to the economy, geopolitics, and health, BitCasino is the perfect way to self-implode...
The sheeple have perfect market timing - they only go ALL IN at the top. Bitcoin may well be the match that ignites the largest asset bubble in human history. Now that Ponzi schemes have been legalized, it's time to let Bernie Madoff out of jail...
The sheeple have perfect market timing - they only go ALL IN at the top. Bitcoin may well be the match that ignites the largest asset bubble in human history. Now that Ponzi schemes have been legalized, it's time to let Bernie Madoff out of jail...
First off, Bitcoin's recent melt-up came at the expense of Momentum Tech (IBD 50):
And despite continual obfuscations as to whether Bitcoin is a bubble, a currency, a "store of value", or a Ponzi scheme - the fact remains that a staggering 2/3rds of its total market cap was generated in the past three weeks:
It took ~5 years to achieve a market cap of $100 billion and ~one month to triple that figure:
Bitcoin is apparently supplanting gold as the "true" store of value. Just another man-boy fantasy...
Bitcoin has been a massive driver of semiconductor sales:
Bitcoin futures could implode entire brokerages...
"Bitcoin futures are set to begin trading Sunday at the CBOE and a week later at the CME, and retail brokerages are bracing"
"How silly people are, it is just amazing"
Bitcoin is the ultimate manifestation of late cycle euphoria. Social Mood on steroids. It's the last speculative asset that is still going vertical. Each dip is shorter and shorter...
Fortunately the Dow is not in a bubble:
"Overall, stocks are trading at very lofty valuations, and cash holdings for Merrill Lynch clients are below where they were in 2007. Margin debt is at a record. Institutional sentiment indicators tracked by Barron’s are wildly bullish."
"So, what else is new? These indicators have been flashing red for months, and the market has continued to rise...That’s why I think except for manias like bitcoin and the FAANGs, we’re in the early stages of stock-market euphoria. The best—or worst—is yet to come."
Got that? All of the conditions are in place for a collapse, however, since this has been going on for quite some time already, that means we're in the early stages.
With logic like that who the hell needs enemies?
Got that? All of the conditions are in place for a collapse, however, since this has been going on for quite some time already, that means we're in the early stages.
With logic like that who the hell needs enemies?
