Another battle in the war, the battle of the bitcoins bears versus the bulls.
I’be been looking at this 1 month log chart. In green is the trend I’ve been following for a while, the last few days we’ve been well and truely testing the bottom of it. I’ve also plotted another trend in red, hadn’t spotted until now, a channel coming down from the all time price peak. We’ve been getting more and more constrained in this wedge and is due to explode upwards and outwards anytime now. Or maybe to plumment out the bottom any time now!! Take your pick.
Its like that bit on ghostbusters when you should never cross the streamers.
On a different note entirely but still on the subject of war! What is a currency war? Is it where nations are competitively devaluing their currencies to try and gain a trade advantage so they can grow their economies and ease the burden of debt? Hmmm plausible, you might even be able to spout it endlessly on telly.
Or is it really a war against anything that isn’t monopoly paper government debt money?
Imagine you could use the futures market to smash down precious metals, oh wait you can. But those dam pesky bitcoins how do you smash them down? You could try a big pump n dump, make it look like it peaked and hope enthusiasm will disappear, like described in my fake tops post. Damn and blast but the price is coming back already. You could also orchestrate some Ddos attacks on the biggest exchanges. What about also Ddos’ing the largest market place that uses bitcoins too? Maybe that will cause the price to fall. Silk Road has been down for a few days now. Under attack. But by whome?
Its war! On one side we have debt money brought to you by our central planning politicians and bankers, and on the side of truth, liberty and freedom we have precious metals and bitcoins.
I could ramble on like that for days but I’ll stop now.