The Bitcoin environment was all frothy based on pending ETF approvals. There were too many traders using margin. They got a lesson this morning about “selling the news.”
This is why Bitcoin is speculative at best. It is not an “investment” in the traditional sense of the word. I am a long term Bitcoin holder...this type of “whiplash” is pretty common and happens every few months to one degree or another.
They would do well to read Ayn Rand's Atlas Shrugged to learn the fundamentals.
If Biden returns to the White House, reckless spending will continue.
If Trump returns to the White House, reckless spending will continue.
Replace either of those names with anyone except Rand Paul, and the result will be the same. Hyperinflation, here we come.
It’s not IF there will a crash, it’s WHEN there will be a crash.
Our unfunded liabilities are $212 trillion. Just saying.
Here are the National Debt milestones for 2023-—
15 jun 2023 = 32.0
15 sep 2023 = 33.0
29 dec 2023 = 34.0
Ever since McCarthy agreed to let spending go rampant, the debt has increased $1 trillion every 90 days
Consider:
one billion seconds = 31 years
one trillion seconds = 31,000 years
Let that sync in a little and you’ll get a sense of magnitude here.
How do you reverse that out? What’s the total actual value of everything in the world?