February 1, 2022
Déjà Vu – Have we been here before?
As I write this, BTC has come up to $38,644, now at 2.01% in the last 24 hours. Eth is at $2,767, rising faster at 5.06% This is a point which has somewhat previously jettisoned upward, giving hope to speculation that it might be the beginning of a bull run- but for more than a few times, it has descended from that hoped-for destiny. But are conditions different now- and how should we come with a downside or upside option for the BitCoin price?
MicroStrategy (NASDAQ: MISTR) saw a 4% jump lead in pre-market trading after company bought 660 BTC for $25M in cash at $37865 for BTC. We recently linked to a fascinating discussion with Michael Saylor. He got into BTC years ago when his company had a tremendous amount of cash on hand- but because of the prevailing money conditions, he couldn’t find anything he could spend it on that would make enough money to prevent inflation from taking a huge chunk away. Only Bitcoin- not stocks, not prevailing interest rates, not real estate, not yachts.
A $20 MILLION DOLLAR TRADE
Chris at MMCrypto is contemplating making a $20 million dollar long trade- depending how BTC reacts to its price position in an ascending triangle. He believes there will be a breakout one way or the other in the next two days. Chris thinks if it breaks on the upside, it may go to 44,500- so he warns his audience not to sell at $39,000 or so- but just to wait and see. Other- wise, BTC might go to $32,700- a better price than $39,000. If it gets to $41,500, then he will execute a $20,000,000 at some point as the price rises.
Another thing he points out is the pressure the International Monetary Fund is putting on El Salvador who has now made it legal tender. The fact that El Salvador is using BTC in this way could signal an entirely new paradigm for BTC. Watch the details in the following video. Subscribe to the various Crypto videos if you like the ones you see here.
Here is another recent video on the legalization of BTC by El Salvador.
One of the things my company does is work on the creation of audio as well as audio editing. This has a myriad of benefits- as elements in videos, in music videos, in podcasts (some YouTube videos are actually largely audio.
George (We are all George) at CryptoURs, points out that although certain analysts seem to look at BTC as they would a Tech Stock, it is much more a long-term investment and should be regarded differently. He thinks they will one day get the difference. As mentioned at the beginning of this blog, MicroStrategy bought more than a little bit of BTC in premarket this morning- but George points out that Michael Saylor, its CEO is now having a BitCoin conference for a few days and this increase the chatter about BTC.Earnings from Paypal and Google are coming up tomorrow, Activision and Metaverse earnings later on.
Geroge talks about how banks are giving dire warnings to their customers about the BitCoin winter. Here’s one headline: Excessive Volatility Hindering Further Mainstream Adoption of Bitcoin, JPMorgan Says.”
Now, considering recent events as in this quote from Reuters on September 23, we could join George in examining what we think of banks kind warnings. “WASHINGTON, Sept 23 (Reuters) – JPMorgan Chase & Co (JPM.N) agreed to pay $15.7 million in cash to settle a class action lawsuit by investors who accused the largest U.S. bank of intentionally manipulating prices of U.S. Treasury futures and options.The settlement disclosed late Wednesday night stemmed from sprawling U.S. government investigations into illegal trading in futures and precious metals markets, known as spoofing.”
It is true that consumers should definitely worry about the BitCoin Winter and other gigantic volatile movements in the Crypto markets. But it is also true that there have been tremendous and secure profits for those who wisely take those facts into consideration. And with inflation with fiat dollars rising to uncomfortable proportions, Crypto stands as a valuable alternative, if you can take the heat.
So, what George says in the following video could be said to be more than interesting.
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In our New Galaxy Blogs, we share various types of videos for you to scrutinize. Unless we specifically say so, we do not necessarily agree with their content, in whole or in part. Sometimes, we will present written or audio/video material concerned with health or financial issues. We always recommend that before you try anything, you check with your medical or certified health professional before engaging in a health protocol- and with your best qualified financial advisor before embarking on any financial adventure
