Sorry if there is any repeats in here, I wrote this in two segments and when I merged them, I wasn’t up to anymore editing, also mind my tinfoil tuque that I occasionally wear..lol, I may be getting a little eccentric in my old age
I know lots have had their confidence shaken, what with all the Wall Street talking heads casting doom & gloom for everything from Cryptos to Blockchain Through mainstream “Fake” media , all while using their algorithm bots to short the crapolla out of most crypto/Blockchain related stocks backed up by their affiliated boiler rooms bashing all the bullboards to chip away and destroy sentiment and (mind the tinfoil hat here) go so far again as I’ve mentioned here before, Wall Street wolves have for the first time, had their hands involved in gaming the Cryptos with commencement of the CME & CBOE bitcoin futures trading.
This because the banksters are worried their stranglehold over us schmu_cks could be at risk due to the rise of Cryptos, and if consensus can rule, they could be headed the way of the dinosaurs.
A lot has changed since Jamie Diamond called bitcoin a fraud then turned around months later and apologized saying Cryptos are real. Ya right, if ya can’t beat em, try to join em, and get position after shorting what they knew was a normal cyclical Crypto downturn every year (Nov-Dec) that like I said starts to correct back following Chinese New Year , I remember watching the
double bottom at $1K U.S. towards the end of March last year and everyone know where BTC went from there.
We are living in the most interesting times.
Check this “Forest Through The Trees” excerpt that I came across:
Cryptocurrencies/security of (i.e. blockchain): Bank of America has warned it could face substantial costs as it deals with cryptocurrencies, a sign of the potential threat to the world’s largest financial institutions posed by the rise of bitcoin and its alternatives. In its annual filing with the Securities and Exchange Commission (SEC), the second-biggest US bank by assets included for the first time warnings about the technology among the risk factors for investors. Only three references were made to cryptocurrencies in a 13,000-word section of the filing late on Thursday that also discussed a wide range of other risks, from Brexit to cyber attacks. Still, BofA’s decision to include the warnings shows how banking executives are taking the bitcoin craze seriously, and are having to acknowledge the possibility, however unlikely, that it will upend their business models. In a nod to the prospect of increased competition from alternatives to the mainstream banking system, the filing said cryptocurrencies, among other technologies, could prove costly for the bank if they became more popular. BofA is among several institutions to have blocked customers from using credit cards to buy cryptocurrencies. It has also restricted clients of its Merrill Lynch brokerage unit from making bitcoin-related investments. Regulators have also issued warnings. The Bank for International Settlements has described bitcoin as a combination of a bubble, a Ponzi scheme and an environmental disaster. (CG 23Feb18) Find it hard to believe something’s not going to develop & the banks & all financial intermediaries had better be looking into how their business will be affected if a cryptocurrency does become mainstream. TD has become the first Canadian bank to stop allowing customers to purchase cryptocurrencies using its credit cards. We had highlighted a few weeks ago that Canada's biggest banks were still allowing customers to buy Bitcoin and other cryptocurrencies with debit and credit cards, even as some U.S. lenders move to block such transactions. Bank of America and Citigroup began blocking cryptocurrency purchases last month. There’s been no indication so far that any other major Canadian bank has followed suit. With some cryptocurrency's down more than 50% from December highs, many of those investors are likely underwater right now, and may not be able to pay off their initial Bitcoin purchases soon. (CG 23Feb18) Speculating with credit card interest rates where they are? Wow
Associated link: https://image.s4.exct.net/lib/fe9615737367007c72/m/1/9b828bb2-b3ba-4d76-b1db-07462573feb6.pdf
I wanted to see a double bottom here with BTC which would be bullish and mirror what I saw occur at the end of March last year except for scale.
I’m no expert TA guy by any means, but maybe I get my wish?
I believe BTC might have hit it’s 2018 bottom, got our dead cat bounce, rolled into a bearish double top, to signal the reversal back down to complete a much larger scale double bottom then we saw in 2017 albeit one that is befitting to the scale of the meteoric rise we saw take place in 2017.
So if I’m right and given the size of the 17 rise and the breadth of the (if) 18 double bottom, could this be viewed as indicative of what is to follow? (As in possibly a much bigger move north then what occurred in 17.
I mean you look back on the one year chart to last spring, you can’t even see the double bottom there anymore...it’s crazy but hey that’s Crypto.
Make no mistake Crypto’s are being gamed, I mean think about it, the market cap of bitcoin is puny enough in relative terms, that most banks on their own could handily manipulate bitcoin.
Bitcoin has a current market cap that is under the valuation that Time Warner paid for AOL in 2000...lol...and Facebook on it’s own is nearing twice the market cap of all Cryptocurrencies combined
($350B current down from $750B Jan. 2018)
Just for some perspective https://www.marketwatch.com/story/this-is-how-much-money-exists-in-the-entire-world-in-one-chart-2015-12-18
Lots of regulatory posturing going on around the globe.
This could take a little while longer but maybe not too much longer, but there will be big changes/rules in 2018 , that’s for sure. Are Central bank going to try to make Cryptos their own, maybe, but if so I think they will fail in epic fashion.
Question: How much more hash power would be required if Central Banks came out with their own Cryptos and if China went this way, what could that mean for Miners there.
I’m thinking it would be very positive or why would the CEO of Bitnine
(must point out “worlds biggest Crypto Miner and located in CHINA, just down the road from Ronin) be making a case for Central bank issued Cryptocurrencies.
https://altcointoday.com/jihan-wu-to-talk-central-bank-crypto-at-dc-summit/
Maybe it’s a Central Bank Crypto-Petro-Yuan Thats backed by Gold that he has on his mind?
https://oilprice.com/Energy/Energy-General/Will-The-Dollar-Survive-The-Petro-Yuan.html
Although China is the most indebted nation in the world, they could have a brilliant maneuver up their sleeves. I’ll also include a link here that Bill Holter gives a very interesting theory that could see China checkmate everyone.
If true, I think I’ll be glad I got 500K shares in a brand new gold IPO that just started trading (please don’t ask, cause I’m not sharing...yet, for reasons I can’t explain yet)
Grain of salt required with this knowing that not only do I own three metal detectors :-) these gold bulls like Holter, Peter Schiff , Lynette Zang , Rib Kirby , Jim Sinclair to name a few are all very smart people and make strong cases for their prognoses, but, they and myself have been consistently wrong for quite a few years now.
Has digital gold replaced gold as the store of value, many argue that it has,
but you would have to be a believer that P.O.G. Is not manipulated and I am not in that camp, matter of fact I’m in the same camp as Wall Street contrarian Greggory Mannarino is , that every asset is manipulated.
Having said that, like any of societies bell ringers, they are only wrong until they are right.
After all, 99% thought Dr Michael Burry was a absolute lunatic too :-)
https://usawatchdog.com/china-could-reprice-gold-to-100000-per-ounce-bill-holter/
Few things I try to focus on that tell me if Cryptos & Blockchain are here to stay
(maybe not BTC) maybe XRP will replace? Who knows
All I do know
There is ten times the deal flow going into Blockchain & Crypto Mining in Canada
Watch for a mind boggling amount of new listings to come to market and not just a bunch of wildcatters, very sophisticated global consortiums and whales bringing $Billions into the market, the likes of a Mike Novagratz and his Galaxy Digital Holdings (New Beacons to Light the Way)
Never heard of him?
https://www.ccn.com/cryptocurrency-market-cap-to-reach-2-trillion-in-2018-mike-novogratz/
Then I look at the scale of News all around cryptos and Blockchain , it in itself is epic in proportion, anywhere I click every day the sheer volume of news
(REFLECTING ADOPTION) is colossal every single day across the globe, whether it’s another ICO (something maybe worth considering for DM?:-)
https://www.coinschedule.com/stats.html
Or regulatory news on daily basis
https://bitcoinist.com/national-regulators-shut-japanese-exchanges-order-improvements/
More real scale economy sector signalling transactions adoption of crypto almost every day you can find something to this affect:
https://www.newsbtc.com/2018/03/09/first-ethereum-based-real-estate-deal-completed-u-s/
Titans of Wall Street quitting their jobs to go work in the Crypto/Blockchain startups
https://altcointoday.com/coinbase-hires-nyse-finance-vet-to-grow-enterprise-products/
Countries as obscure as Sierra Leone leading the way with new Blockchain innovation that is poised to revolutionize the way the world does things
https://altcointoday.com/sierra-leone-uses-blockchain-to-track-election-results-swiss-company-provides-expertise/
Loyalty rewards programs been completely disrupted?
https://www.newsbtc.com/2018/03/09/forget-air-miles-credit-card-firm-give-customers-cryptocurrency/
This one was just tweeted this AM by Jeff Stevens
https://www.cnbc.com/2018/03/06/knight-frank-2018-wealth-report-the-ultra-rich-are-investing-in-cryptocurrencies.html
I get this clear evidence everywhere I look that Blockchain/Crypto related disruptions are occurring every day (note the dates on the above)
The sky is not falling, rather this is just the curtain falling on the last act, before the curtain rises for the next act in which:
CryptoMiners will see major windfall
https://stockstotrade.com/cryptocurrency-mining/
Maybe why Claude Theoret made the move to DM? :-)
https://www.theverge.com/2018/2/16/17017910/bitcoin-mining-radio-astronomy-gpu-shortage-price-hike
Miner manufacturers in China say “You miss Bitcoin, You miss a Century”
https://www.scmp.com/news/china/economy/article/2131838/chinese-bitcoin-mining-machine-sellers-immune-cryptocurrency
It’s not easy to estimate the future market cap of Crypto Miners per say as it is to estimate the general market of Cryptocurrencies (grain of salt)
https://finance.yahoo.com/news/rbc-cryptocurrency-market-one-day-worth-10-trillion-172113529.html
(More Salt)
https://dailyreckoning.com/revealed-bitcoins-price-2020/
Blockchain - AI Big Data Market: Conservative but good forecast..imo
https://bravenewcoin.com/news/blockchains-for-artificial-intelligence/
My DD that I shared here tells me we are being played and one thing for sure is this downward market compression is not a Datametrex specific issue but a broad spectrum designed to shake your resolve.
I’m confident that DM will be one of the winning disrupters with their vertically diversified strategy.
Enjoy reposting this one where one smart analyst sees the brilliance of a strategy like DM is executing as opposed to a one trick pony HIVE
https://www.bnn.ca/market-call/bruce-campbell-discusses-blockchain~1309379
I look at it this way, when I am down I only lose if I sell , also with DM if I sell now I lose twice, cause I won’t get my Graph Blockchain freebies....hello
This why I’m adding at these temporary levels.
I can only speak for myself, but in answer to some bizarre statements here, why on earth would I or anyone for that matter who didn’t ALREADY exercise their warrants when the stock was trading in the 30 -40 cent range, then choose to sell those converted shares now at these levels? Why would that make sense.
The management proving they are high caliber ..imo.. chose not to accelerate the warrants (although it was perfectly within their right to do so if they wished) because they don’t need the money. The warrants are good for 24 months I believe so why wouldn’t most hold onto those warrants for a much longer duration.
As far as the Free trading shares hitting the market later this month, again I don’t expect much selling, of course I can’t be sure, as you never know how people’s financial situation can change in four months, but I can assure that myself and the ones I know that got in on this round of paper are in no dire need and have our eyes on the prize which is measured in dollars not pennies.
Of course those who see bashing as a way to get cheap shares will try pushing this line of thought as often as they can.
This next few weeks is a good time to go do some spring skiing and forget about the day to day turbulence orchestrated for your entertainment , cause it won’t be that much longer until we can put away our crying towels, hope we all used that time to fill our boots and get those party hats ready.
I’m expecting Andrew to deliver lots more good news from S.E Asia where he has very strong networks, and lots of material News with Graph Blockchain, Ronin Blockchain, maybe even a surprise or two, but I wouldn’t mind at all if any of that didn’t come until the end of the month cause even good news is not garnering much favour in current market conditions.