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BTC - Is Wall Street Lying About the Bitcoin Bubble?

BITFINEX:BTCUSD   Bitcoin / Đô la
Every day I turn on CNBC to watch what is going on. I have a passion for trading and I want to gain as much knowledge as possible to better my returns, look for those stocks that are under preforming, get insight from "alleged" experts, but most importantly to understand the market sentiment. This is the crucial key for me, market sentiment. Bubbles do NOT happen when people are pessimistic. They happen when everyone is optimistic. For 3 years now many have been calling for a bubble in the stock market and it has NOT happened yet. Why? Too much pessimism! You can say the same for bitcoin'.

So every day on CNBC I see another analysts talk about how Bitcoin' is in a bubble and it's going to be the greatest bubble of all times. (cough cough). Seriously? Cryptos combined do not have the market cap of Apple or Amazon. How can this be a bubble? IT'S NOT!!! Now those same "expert analysts" that are calling for a bitcoin' meltdown are many of the same analysts that are calling for Amazon and Netflix to go higher. HUH? Seriously Bitcoin' is in a bubble yet you increased your target level 25% on Netflix?

After a few days of consolidation we have now broke through $12,000 with some good strength and almost have hit our prior target level of $12,991 that we posted on Dec 2nd. Now I have updated the chart and the current pattern looks very familiar to the last pattern but more consolidated. What's this mean? Well you could say the last formation of a top, and that is a valid argument, but it could also be money just starting to pour in from Main street. Well doesn't this fuel a bubble? Yes and no. Money continues to flow into Amazon' Netflix' and many other "speculative" stocks. But why are these analysts are calling for a meltdown on bitcoin then? Well Walmart does not run Wall Street the banks do! So they don't care if Amazon' disrupts other retailers they buy and tell you to do the same. They do not care that Netflix' is changing the way we watch TV' at night? Netflix' has distrupted and continues to disrupt so they tell you to buy here.

But Bitcoin'? Bitcoin' and cryptos in general disrupt the Wall Street banks, and even the central banks, that have had control of OUR money for centuries! It's ok to disrupt kroger', but may the wrath of God come down on you if you disrupt the financial institutions in the world, and bitcoin' and other crytpos are doing just that.

On the chart below I have graphs of AMZN' NFLX' and Bitcoin'. How can someone tell me Bitcoin' is overbought, yet Amazon and Netflix still have room to run? All freaking 3 charts look the same to me or am I missing something! I mean parabolic? Heck Amazon is almost vertical! Ok you can say I skewed the timeline. Yes but the charts they show on CNBC are not even Log charts. DOH! I can make the chart look how I want to yes, but the underlying thesis here is bitcoin' and cryptos in general are disrupting the financial institutions and that is where I want to invest. I own no bank stocks because of this! Do not forget that Bitcoin' had no venture capital. Venture capitalists that invested in Amazon' and Netflix' made much much more than those who bought at IPO . Also do not forget there are only 21 million coins that will ever be mined. Keep in mind every share you bought of Amazon at IPO is now 12 shares. Had they never split, Amazon would be trading at $14,000 per share and there would be 38 million shares approximately.

Bottom line we do not know where or when we will get a pullback. I would "guess" somewhere in the $13-$15k. The formation of this next pullback will be telling, but I'm long term so I want to add I'm not looking to sell.

In my opinion Wall Street has an agenda and are protecting the financial institutions that run the world. Bitcoin' disrupts this and is doing it very fast. Why? Because it goes to the heart of everyone on earth, YOUR MONEY & Wealth!
Bình luận:
Bình luận: I believe we are seeing larger investors and institutions that plan on trading futures buying bitcoin to hedge their futures contracts. If you want to sell 10 contracts or buy 10 contracts it would be highly risky not to own the underlying asset. So I expect we could see us go higher as the market movers buy coins to hold the underlying asset they are trading. Very clear this is happening as the US market is trading higher than those outside the US.

Bình luận: Great post from MarcPmarkets if you haven't read it.

Bình luận: I have provided an alternate count as we have formed the same "V" formation that has catapulted us higher every time. Keep in mind that we could have finished the count as well and would be looking at a pullback to 6-10k. Though I feel 6k is not realistic, it is possible. It's going to really depend on how the release of bitcoin on the futures market goes on Sunday. So though 27k is possible so is 6k. We are entering uncharted waters; However, with that said the "V" formation has been highly bullish and I am staying long and may look to enter a trade higher here but it will be a short one. I know the numbers are staggering as I mentioned in a previous article.

Bình luận: Very interesting chart on the US volume, which supports that futures traders in the US will want to own the underlying asset if they are selling futures. Undeniable!
As you say way too simplistic to say futures will destroy BTC probably the opposite in this fallen world ;-)
+1 Phản hồi
Excellent! Thanks!
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Please keep posting analysis, thanks!
Phản hồi
Excellent! Thanks!
Phản hồi
I understand the sellers of future contracts do not need to actually show they actually have Bitcoin since it is cash settled. I am curious how many of the buyers will actually want Bitcoin for delivery if they continue holding the contract. I mean this is getting interesting for real. What is your take on this GB?
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Goldbug1, we're not going out of phase "new paradigm" to "denial"?
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I love your last update chart.

Personally I was thinking $23,000 as the top (how many times have I thought xyz for a top now?? ;) )

I will probably open some minuscule shorts at that point.

+1 Phản hồi
@BRRD, careful shorting!
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goldbug i have to ask, do you think at this point, if all bitcoin is good for is "store of value" that it may indeed be a ponzi? as a peer 2 peer cash (original intention) i would argue it is not. but now im not so sure.

Where is the value going to come from if it cannot be used?

lightning networks are nowhere close to being done and potentially may never work. If they do they likely end up with a number of lightning hubs which essentially equate to a more centralized banking system than we currently have.

i just dont see the value anymore that i once did.

i am very bullish on bitcoin cash with the tremendous amount of good news.

once again, you are the one with the investing experience here not me. so i want your opinion :)
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