It should be no surprise that the market pumped today the second we got out of September.
September has never been a good month.
Uptober begins!
Bitcoin Doubling Curve
| 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 |
| 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| $3200 | $6400 | $12800 | $25600 | $51200 |
When we zoom out on the chart we can see some pretty legendary happenstances. Already we've been above the doubling curve for over a year. If we are still in a bubble and not deflating this would be an extreme all time high in terms of time above the curve. The last Mega-bubble in 2017 was only above the curve for 18 months total (6 months for the bull market, 12 months for the bear market). If the bear market doesn't start until Q1 2022 we are going to be above the curve for a total of around 27 months (15 months bull market, 12 months bear market). Crazy stuff.
How do we know we haven't peaked yet?
Lots of reasons.
BTC ETF
For starters, an ETF has not been approved. I've been predicting for years now that an ETF will be approved during the next peak. What a coincidence then that the SEC is pushing back the deadlines for 4 ETFs to the end of this year. 1 or more of these will be approved during this historic decision. That's when you know you should start DCA selling about a week later.
Also the hype and FOMO hasn't even come close to peaking. You'll know we're at the peak of a mega-bubble when the mainstream media flips the board and hypes crypto to the moon. Do the opposite of what they are brainwashing us to do. I'll be going short on Bitcoin for the first time ever at that time, and I expect Bitcoin will be trading near $300k and the total crypto market cap will be around $15T.
El Salvador
El Salvador mined Bitcoin today using geothermal volcano energy for the first time in history. Hopefully the brainwashed liberals out there will realize how absolutely full of shit they are. #dreambig.
Every time I talk to someone about Bitcoin that leans left they parrot this bullshit, and I lean left so that's saying something. Neo-liberal Authoritarianism is on the rise in a big way, and it becomes more and more justified each day with the vaccine passports and all the other fear-mongering going on. It's a shame there are so many cowards in this world who refuse to question authority. This is why we can't have nice things. Don't forget: the Nazis thought they were on the correct side of history in the moment.
The next time someone tells you to 'trust science' remember The Milgram Experiments.
Nazi Germany had some of the best scientists in the world.
Easy to be a good scientist when nothing is off-limits.
DEC/BUSD LP POOL
The splinterlands CUB LP pool has more liquidity in it than CUB/BUSD despite being rewarded x33 less yield. That's quite the accomplishment. Kudos to Splinterlands for carrying us during this chop. My have stack is probably still in the 6-figures range solely due to the hard work and dedication that's been put in here.
BTC Q4 Targets
- ATH $65k+ this month in October.
- $100k + 30% retracement in November.
- $200k+ December/January.
There is no competition here.
Vulture capitalists are constantly projecting false competition onto this arena. Ethereum killers. Will XYZ kill ABC? What's the next Bitcoin? It's all nonsense.
Imagine making the argument that the LA Lakers compete with the Golden State Warriors, therefore the LA Lakers are going to lose all their fans and community to the Golden State Warriors. That is a nonsense argument, yet it is this exact same logic that is employed within crypto over and over and over again.
This logic only works within centralized legacy capitalism. It makes zero sense in a decentralized atmosphere. Saying America is the best country in the world so therefore everyone in the world will move to America is an idiotic argument to make, yet in crypto/metaverse this argument is made on a daily basis.
DEFI is your god now.
Yield farms are ICOs on steroids. They have infinite liquidity, can create stability and units of account, and overall just have a better UX than their ICO predecessors. So much money is about to get pumped into crypto and everyone is still in disbelief. Once the pump comes everyone will flip into thinking the market can never crash. Happens like clockwork everytime. If there's one thing you can count on: it's greed.
Conclusion
It's good to get out of September as we head into the final run of the mega bubble. Hopefully it all works as planned or we may have to make some pretty hard decisions at the end of the year.