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Stan Druckenmiller: 5 years ago I said crypto was a solution in search of a problem
|Kurt Grela||May 12|
So many top signals in crypto at the moment. Not particularly worried, but definitely paying attention.
eBay has confirmed NFTs will go live on the platform, making them the first e-commerce company to move into this market.
We are witnessing the monetization of a new monetary good, , in real time and we are *learning* how that process happens. It is a historic moment.
The Bitcoin bull market after halving two (2016) and halving three (2020). Not the same, but similar.
NEW: is sponsoring an amendment to add distributed ledger technology to the Endless Frontier Act, a bipartisan bill that would create a new science and technology directorate for the U.S. government. reports
One of my favorite Wall St arguments against Bitcoin: “No Good Reason To Own BTC Unless You See Prices Going Up” Why else would one own an asset - unless believed price would go up? Staying long blockchain until negative stuff stops being written. More panteracapital.com/blockchain-let…
The finance industry is taking crypto mainstream by building into their insurance, banking, & investment products. says 46 million Americans now own Bitcoin.
*SEC CALLS BITCOIN `A HIGHLY SPECULATIVE INVESTMENT' *SEC WARNS OF VOLATILITY, LACK OF REGULATION IN BITCOIN MARKET full letter from the Division of Investment Management:
Stan Druckenmiller, "5 years ago I said crypto was a solution in search of a problem," "Well now the problem has been clearly identified. It's Jerome Powell and the rest of the world's central bankers. There's a lack of trust."
CNBC Squawk Box Tweet Storm
"It's going to be very hard to unseat as a store of value asset," says Stanley Druckenmiller . "Yahoo invented the search engine ... We all know what happened with Google versus Yahoo."
"What I have a problem with is the Fed is expected to do $2.5T of QE after vaccine confirmation, and after retail sales reached trend and were above trend," says Stan Druckenmiller. "We are still acting like we are in a black hole and in fact the economy is accelerating."
"The Fed will have to monetize it. I believe it will have horrible implications for the dollar ... it's more likely than not within 15 years we lose reserve currency status," says legendary investor Stanley Druckenmiller.
1/3 Follow-up on the consolidation phase: if we draw a line from the start of each cycle (previous ATH) through the low of the consolidation phase (light blue circle) we see that for each cycle this has shown to be a fairly good support level.
2/3 I am not very keen on short-term predictions but if history is an indication of the future this support line might take us to a new ATH latest by the end of May and we're not coming back to these price levels ever again.
3/3 Note: if we get a lower low (unlikely imo) the support line would have to adjust. Follow-up of: (why we don't see these price levels again)
Root 🥕🟩 @therationalrootA consolidation phase comparison of #Bitcoin cycles: We’ve been quite some time in this consolidation band around 60k, a maximum next bear’s low? Reason to stack harder. https://t.co/4q7L5piClf
A consolidation phase comparison of cycles: We’ve been quite some time in this consolidation band around 60k, a maximum next bear’s low? Reason to stack harder.
spent a lot of time with a gold prospector this weekend. learned about the tradeoffs in verifying gold. TLDR for good delivery bars it's basically impossible (without a full melt + assay). turns out my assumptions were way too generous. fascinating