Will this time be different, is the main question asked by traders. And as usual, the second biggest question posed by traders, investors, speculators and plain old haters is what is the reason behind the move.We are at a crucial point in the sandbox, we are able to almost turn on full automation and ditch the central banks.
According to some, Facebook’s announcement this month has revived interest in coins, while investors seeking safety have also pushed up Bitcoin’s price.
“It obviously does appear to be benefiting from some sort of flows that gold is benefiting, too,” CMC Markets chief strategist Michael Hewson said. “You’ve got all this stuff about Libra going on, which is renewing interest in bitcoin. Crypto is back in vogue.”
That part was right; what he said next, however, was not - he added that the investors buying bitcoin were speculative. That is precisely the opposite of what JPM found last weekend when the bank concluded that the current bout of buying is not retail - as was the case for much of 2017 - but institutional.
This is the bet, no MMT, no deal, the private sector simply goes sandbox and fuck the Fed and all the "this time is different' hysterics. Wealth is no going through some shock born of delusion, they can easily engineer another recession, take their cut and look again in eight years. The alternative is New Fed, the updated version that is fully sandbox compatible.
Bitcoin is the mechanism to make the sandbox bet on New Fed.
No comments:
Post a Comment