Market History Often Rhymes…
I’m often reminded of how Mark Twain was rather prescient in regards to markets. Let’s reminisce a bit, back to a simpler time, when an obscure entity named Grayscale Bitcoin Trust (GBTC – USA) was hoovering up Bitcoins on a daily basis. I predicted that eventually, it would acquire enough of the “free float” that […]
On Riding Freight Trains…
I have a friend who’s a reasonably competent trader. He’s the type who draws his voodoo lines everywhere on the charts. He caught the trendline break on Bitcoin around $9,200. He expected some resistance around $10,000 and sold out for a quick score just below the figure. He then got the breakout at $12,000 and rode […]
My Favorite Ponzi Scheme…
Let’s set some ground rules here. As far as I’m concerned, Bitcoin is a Ponzi Scheme. If you think Bitcoin is the future of money, a store of value or any other nonsense, I’m not going to disagree with you. Every good scam needs vocal and loyal apostles. Go out and spread the gospel—you have […]