DIPS ON STEROIDS: BTC Corrects – A Blessing In DISGUISE!
I love it when an asset class gets cheaper because of overblown fears; that’s when opportunities happen. If it weren’t for the haters and the doubters, nothing would be mispriced and the markets would come to a standstill.
Besides, when someone is spitting out hateful comments about an asset, the first thing you should do is look at that person’s motives: why is he denouncing this? A perfect example is Jean-Claude Trichet, who was the president of the European Central Bank. Of course he’s going to support his elite banker friends and their fiat money power structure – he has a vested interest in maintaining all of that.
Are you surprised, then, that he said he’s “strongly against Bitcoin” and that it’s “not real”? Again, look at his motives. During this same rant in which Trichet railed against Bitcoin, he promoted the International Monetary Fund’s “Special Drawing Right” currency – so now we see why he chose Bitcoin as the scapegoat.
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The best way to deal with these banker clowns is to just ignore them and focus on your own finances. There are events happening right now that could easily send crypto prices higher:
- Cryptocurrency data providers are getting smarter and more transparent. For instance, CoinMarketCap now has a dashboard gadget that can compare exchanges and token pairs (3,000 different digital assets) based on liquidity. By emphasizing liquidity over volume, this data will be less prone to manipulation or “gaming of the system.”
- Bitcoin futures trading platform Bakkt received the green light from the New York Department of Financial Services to provide custody (safe storage) services for all institutions – not just those that trade Bitcoin futures.
- May 14, 2020 will be the Bitcoin halving day, in which the Bitcoin mining reward will decrease from 12.5 to 6.25 coins; the BTC supply will decrease, making it scarce and therefore more valuable.
Many already know about the Bitcoin halving event, but most people aren’t aware of another upcoming event: the flippening, in which Bitcoin’s market cap (currently $160 billion) will eventually exceed gold’s market cap (currently $8 trillion). Yes, gold’s market cap is 50 times greater, but the growth rate of Bitcoin is so fast that it will overtake gold.
Unlike the halving event, the flippening doesn’t have a known date but believe me, it will happen at some point and that’s massively long-term bullish for Bitcoin. There’s a relationship between the halving and the flippening: if the halving boosts the BTC price, that will bolster Bitcoin’s market cap and bring the flippening event closer.
I’ve heard that the flippening could happen as soon as 2028, but there’s really no need to pinpoint an exact year to profit from this. Just let the haters do their job (create opportunities) and keep accumulating: there are more than enough events on the horizon to create prosperity for you, if you’re bold enough – and early enough – to take it.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.