3 big drops since BTCUSD ATH and the next move is going to ...
Given that:
For the time being, Bitcoin (BTC) is well correlated with traditional markets.
What this chart shows me:
Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife edge for as long as it can before it makes the next move either way.
How The Biggest Whale Affects Everything:
As long as the Fed keeps buying the FAANG bonds and basically p0wning the market / transforming the USA into more like the USSA .. central Kontrol over everything. ... well as long as the charade lasts, trads keep up the PAMP and bitty may ride along, for now, anyway.
The Great Comparison:
However if you look at the markets compared to right before the Great Depression ... Well ... it basically looked a lot like this. See DJI for example. Highly overvalued stocks being propped up by artificial cash infusions in to the markets. and there was a signal dump and recovery and then shortly after there was the big drop. It looks an awful lot like that now, too. of course systems are "stronger" now but still ... the system is also so much bigger .. the damage from any crash now or in an even larger, more centrally controlled future, will be proportionally bigger as well, in all likelihood.
WDUT?
For the time being, Bitcoin (BTC) is well correlated with traditional markets.
What this chart shows me:
Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife edge for as long as it can before it makes the next move either way.
How The Biggest Whale Affects Everything:
As long as the Fed keeps buying the FAANG bonds and basically p0wning the market / transforming the USA into more like the USSA .. central Kontrol over everything. ... well as long as the charade lasts, trads keep up the PAMP and bitty may ride along, for now, anyway.
The Great Comparison:
However if you look at the markets compared to right before the Great Depression ... Well ... it basically looked a lot like this. See DJI for example. Highly overvalued stocks being propped up by artificial cash infusions in to the markets. and there was a signal dump and recovery and then shortly after there was the big drop. It looks an awful lot like that now, too. of course systems are "stronger" now but still ... the system is also so much bigger .. the damage from any crash now or in an even larger, more centrally controlled future, will be proportionally bigger as well, in all likelihood.
WDUT?
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