A staggering $500 billion of fiat currency has already been converted into Bitcoin, and this is just the opening act in a financial saga that promises to reshape our understanding of wealth and power. The stakes have never been higher with the Bitcoin halving event on the horizon. Yet, despite the growing acceptance of this digital currency, the real heavyweight players, the household names of the financial world, have yet to throw their total weight behind it on their platforms. Why the hesitation?
According to others, what we’re witnessing now is nothing short of market manipulation. While I’m as well-versed as anyone in this macro play, I have to just sit back and enjoy this play out, as it’s nothing short of a rerun of past market behavior.
So, as the Bitcoin price shoots north, a counter-narrative is urging the masses to halt their investments because danger lies ahead. The question we must ask ourselves is: why? Why would “they” — the unseen architects of financial dominion — want to deter us from buying Bitcoin? The answer is as simple as it is chilling: to monopolize the market.
Through a campaign of fear and disinformation, which is very much evident if you’re plugged into the daily markets, ‘They’ keep telling us that Bitcoin and the other altcoins are nothing but a phase, and like those bell-bottoms and flared trousers of the past, it will pass. This tactic is not novel; it echoes the stratagems used by financial magnates of the past, such as the notorious manipulation of the copper market by George Soros and his crew (allegedly), by spreading rumors that led to a selling frenzy. At the same time, they chilled and accumulated vast holdings at rock-bottom prices. Sound familiar? Yep, history is repeating itself with Bitcoin.
Contrary to the doom-laden prophecies foretelling Bitcoin’s crash, the crypto markets remain resilient. Despite predictions of its demise to $40k, $20k, or even calls for outright bans by governments, they have failed to halt its journey back south. It appears that the world is awakening to the realization that those old tricks performed by the boomers of yesteryear aren’t going to work anymore. Make no mistake: Bitcoin will smash past its previous high of $69k and dance around the $100k mark for some time. We could even see $150k before year-end. For the record, I’m one of those people.
The only thing that could stop Bitcoin from climbing these heights is a “God-like event,” which could bring not just the market but the entire financial system to a stuttering halt. But that is a story for another time. Note, this is something I strongly believe is coming.
So, hopefully, by now, you’ve woken up and have conditioned yourself into the mantra “Follow what they do, not what they say,” which has been a guiding light for me and many savvy independent traders. This principle has never been more relevant than in the current Bitcoin saga.
You must have seen the silver fox that is Jamie Dimon, CEO of the banking titan JP Morgan, who has publicly dethroned Bitcoin as a tool for criminals, even threatening to fire employees who traded it. Following this rather bizarre rant on public networks, Bitcoin’s value plummeted by 24%. Yet, Dimon was quietly accumulating Bitcoin behind the scenes, like a secret silver fox. In this high-stakes game of Bitcoin, the words of financial elites are nothing short of a distraction from their true intentions. It’s like someone announcing they’re on a diet but secretly becoming a ‘Night Eater’ when nobody is looking.
We must be mindful, especially as independent traders, because the forces against us are formidable. So, my advice is this: Don’t try to beat them; navigate in their shadows, because following successful models is the most accessible road to financial success.
Yet, in this digital age of transparency and interconnectedness, we have the tools to uncover the truth, to resist their plays, and to make informed decisions about our financial future. The battle for Bitcoin is not just about wealth; it’s about reclaiming power from those who would keep it for themselves. But let’s not get above our stations here, as there’s plenty for everyone in this market to build their own version of Utopia.
For those of you (like me) who’ve played these markets for a while, you’re probably well-versed in this story, as it’s correlating daily to the time George Soros also had this Midas touch and formidable influence over various asset classes. For those who don’t know who George is, think of him as the Jay-Z of finance. When he drops a note, people dance. So it’s no surprise that when George declared Bitcoin a bubble, BTC’s value plummeted by 44%. Yet, behind the scenes, Soros quietly amassed Bitcoin for his portfolio. Play smart, not hard, as they say.
Let’s not overlook Goldman Sachs here too, stepping into the media spotlight to declare that most cryptocurrencies were destined to hit zero. The result? Another dramatic fall in Bitcoin’s price, this time by 27%. However, while they publicly shamed cryptocurrencies, they were buying Bitcoin and aggressively recruiting traders to expand their footprint in the crypto space. So, as I end this piece of literature, I’m hoping you’ve woken up from your distractions of TikTok videos and endless TV shows filling the voids in your lives. The message has to be crystal clear: act now, or risk financial insecurity, or even worse, face the possibility of working into your twilight years. The mantra “Follow what they do, not what they say” has never been more relevant.
Don’t forget, and keep your eyes on, JPMorgan Chase, Blackrock, Goldman, and those Vanguard alike, who have publicly criticized Bitcoin and our crypto markets in the past. But despite their criticism, there’s no hiding that 30,000 Bitcoins bought by ETFs, compared to the 6,000 new Bitcoins mined last week, signals a significant trend. For those struggling with the math, let me simplify: demand is vastly outstripping supply, and this imbalance is a precursor to a substantial market shift. The numbers don’t lie, and transparency is king in the realm of blockchain.
So, before I leave you to ponder the future of Bitcoin, let me redirect your attention to another potential titan in the making: Ethereum. In a previous article, “One Small Step for Bitcoin, One Giant Leap for Ethereum,” I discussed Ethereum’s potential to preserve wealth and create it. While Bitcoin garners the headlines and the hype, Ethereum is quietly laying the groundwork for a financial revolution.
Remember: it’s not just about keeping up; it’s about looking ahead, seeing the bigger picture, and making informed decisions that will secure our financial future and the legacy we leave behind.
