Bitcoin is near $20,000 USD again, and a Mexican Billionaire is putting 10% of his net worth in the Cryptocurrency. We wrote a sequel to Splitting Pennies called Splitting Bits explaining that Bitcoin is not what what many think it is. It is more of a Trojan Horse. Is this a double top formation? The coming days and weeks will tell. Take a look at this chart from Trading View:
You can say what you want about the price of Bitcoin but there's one event that no Bitcoin buyer is considering: Trump won the election. Check any news media, they talk about the Biden win. But when you peel back the onion, even the news media is only 'projecting' that Biden will win - not that he has actually won (because that would be false). Look at CNN:
Emphasis on: Joe Biden will become the 46th US president, CNN projects.
Projecting is a technique of Psychological Operations basically invented by Edward Bernays. The current generation of Americans believes what they see on TV more than in real life. If on TV says the sky was red, you can bet people would look out the window and bet that blue is now red. Look at Epoch Times:
Between CNN, ABC, FOX, and other TV networks, they control a great majority of the populations 'eyes and ears.' Based on a Biden win, investors are piling into Bitcoin, because if Biden gets in it's going to literally collapse the US Dollar - not only because of his pro-China policy, but because big business will abandon USA fleeing to more capital friendly places, as referenced by this Bloomberg story:
That’s what a Biden presidency will look like for every major city in America. Trump started this process with the tax cuts back in 2017, which I called the most politically significant piece of legislation since the New Deal when it was passed.
The point is guys, there is a very high probability that Trump can serve a second term, based on evidence now pouring out - right here on Zero Hedge, just a few examples:
Overall - we agree volatility will spike in the next few months no matter what happens, however consider how a successful state flip to Trump would impact Bitcoin.
Of course, you can't short Bitcoin except on futures markets and on some exchanges, but there are companies like DLCC working on software systems that would enable you to short Bitcoin just like you would AAPL stock.
We believe that Trump will win in at least enough states to secure a second term, and this will drive Bitcoin back to where it was before the "Biden Buzz". Trade stocks and get Pre IPO @ www.levelx.com