Rumor: Trump Will Create a U.S. Bitcoin Strategic Reserve

tradertweets said:
When it comes to btc, now is the decision time:

Either it goes up, and keeps the narrative (chart TA),
or, it needs to just go sideways, and breaks the narrative.

If it confirms, and goes up, and really goes up, there is nothing to stop btc from going to 100k.
Once made, it becomes a really serious asset.

If not, and breaks the narrative, its toast.

Weeks ahead are fundamentally important for btc and crypto in general.

A likelihood of Trump winning, can support it on its way up.

So, difficult (dangerous) to trade with leverage, but thats the way it is now...



On the other hand, I am not surprised if Trump creates this btc reserve,
and crypto becomes sort of a daily thing.


However, dollar could lose some weight...
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I am not following the logic that if it goes sideways for a couple more months its "toast" and that the "narrative is broken"?
 
GlobalMacro90 said:
I am not following the logic that if it goes sideways for a couple more months its "toast" and that the "narrative is broken"?
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The btc cycle chart is important.

Would it ever be exited to the downside, the narrative (of a "ever rising btc") would be broken.

That is what I ment.

Above 100k it might be not that important any more,
but underneath it is.

btc cycle chart.PNG
 
tradertweets said:
The btc cycle chart is important.

Would it ever be exited to the downside, the narrative (of a "ever rising btc") would be broken.

That is what I ment.

Above 100k it might be not that important any more,
but underneath it is.

View attachment 344672
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I guess my confusion was - if we just chop around at these levels for six more months let’s say that doesn’t really break the pattern
 
GlobalMacro90 said:
I guess my confusion was - if we just chop around at these levels for six more months let’s say that doesn’t really break the pattern
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Yes,
I dont know if this is the most accurate chart up there.

Have seen different charts on X
(price closer to the downside of the ribbon).
 
NoahA said:
It can't happen overnight because multiple things need to happen first. Its like building a house. You can't price it out until you know the cost of the land, all the stupid fees, material costs, labour costs, etc. Under bitcoin, everything has to be repriced.

Look at what a private company like Visa has to charge to lend money short term. They know they have losses, they have fees to run the business, profit, etc. So you tell me how the government can do it by setting a rate at 3% for over a decade? Its because its all manipulated. The cost of money, ie. the interest rate, is the most important figure, and we have no idea what it should be because a bunch of yahoos just guess at it, but worse, use it as a manipulation tool to keep everything for themselves and their friends.

You can't just swap USD for BTC because Bitcoin is very hard to get. But, Jeff Booth has an amazing quote... "abundance in money creates scarcity everyone else, and scarcity in money creates abundance every else." Once we know what a bitcoin is truly worth, and once we price out the cost of labor, then we can figure out what everything else should cost. Maybe a house should only be 1 year's worth of labor if you have to save for it. Maybe you can't borrow for a house, but only buy one from savings. Maybe lending will be seen as too risky because bitcoins will be too valuable to lose except for someone who has dozens and wants to put them to work in a risky environment. I have no idea.

But I can tell you this. If I work for money that the government just prints, they devalue my labor. They steal from me. I want the government to work as hard to get my money as I have to work. Then the people in the government will be more responsible, and less of them, and won't waste it on stupid bullshit. Everything begins to align once you fix the money.
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Visa is not lending money to anyone. It’s just a money transmitter, the banks are lending money. That’s why every Visa credit card is issued by some financial institution
 
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