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Rocket Launched Again!

Bitcoin launched from the re-accumulation it has been in since January 6th.  It could break $60K which we called for back in January.  Problem then, we did not know how long this reaccumulation would take.  It took a month.  Which is not too bad.  Here is the most recent chart chronicalling the breakout, better buy some Bitcoin!:

Today is a good day.  Tom Brady, an old guy like me, won the Super Bowl.  So, old guys rule!  Elon Musk and Tesla announced that they bought $1.5 Billion worth of Bitcoin and put it on their balance sheet.  We know from the attendee list that Spacex and 1,400 other companies were attending the virtual conference last week, put on by MicroStrategy, called Bitcoin for Corporations.  It is an outright assault on the US Dollar.  Fortune 500 corporations are hedging the US monetary system.  Which begs the question, from another old guy, David Byrne of the Talking Heads, view tweet.


Lets go through it.  Hope you like the Talking Heads music.  But remember the catchy beat to this song as you read these next charts.  We’ll start with Sven Heinrich tweeting information about Jerome Powells investing habits, view tweet.


There is no end in sight to zero interest rates.  Last week the ECB in Europe announced a spoiler that they may consider negative rates in the future.  That is coming to America at some point.  Perhaps 2022?  Jerome Powell being long the SPY and Russel small cap index to the tune of tens of millions, allows him to benefit greatly from zero interest rates and QE infinity.  However, this devaluates the US dollar.  Here is the latest DXY (USD index) chart:

Janet Yellen replacing Steve Mnuchin as Fed secretary means an even loser monetary policy than before.  The $1.9 trillion stimulus is set up to fly through both houses and get signed by Biden.  His regime is really going to expand money supply into the forseeable future.  MMT (modern monetary theory) is going to make America wish for the pre 1971 Gold standard.  However, nowadays, its all about the digital currency.  Many global central banks including the Fed, the ECB, the Canadian and Australian central banks are chasing Bank of China, who was the first central bank to release a central bank digital currency.  So hedge funds have largely capitulated to buying Bitcoin, fortune 500 companies are starting to do that in a big way now, with Tesla buying $1.5 billion, pension funds should be next in line to start capitulating to Bitcoin.  Central Banks will be the last but at some point, perhaps years from now.  Central Banks will also capitulate.  Not because of the price.  Because the network affect will cause so many individuals, institutional investors, corporations, pensions to own Bitcoin.  It is digital, it is peer to peer, it is borderless, it is provably scarce, it is the truest hardest money in the world.  Plus Bitcoin is backed by the most powerful computer network in the world, the blockchain.  Remember the difficulty adjustment, even with quantum computing power the difficulty adjustment can account for that, and the entire blockchain could be upheld from a few individual computers.  Even one quantum computer, because the difficulty adjustment ensures that a block is issued every 10 minutes like clockwork.  

We hear about the issues around volatility.  Then only watch the lows at the bottom of the bear markets.  This chart tracks the bottom of each bear market.  $2.11 in 2011, $176 in 2015, $3,185 in 2018.  From the low of 2015 to the high of 2017 Bitcoin grew 112X plus.  How much will Bitcoin grow this cycle.  Today it is 12.4X it’s 2018 low.  It appears there is room for Bitcoin to run up significantly from where it is now.  4X, 5X, 7X from the current $43,255.  It is very smart to follow the market bottoms which always coorespond to the 200 day moving average.  Sometimes the low touches it or goes just slightly below.  Since the 2018 low was an 18X run up from the 2015 low.  It really stands to reason that the low in 2022 will run up 11X to 12X from the 2018 low.  $35K to $40K appears a reasonable guesstimate of the 2022 low after this bull market has a blow off top.  Bitcon cycles don’t repeat but they always ryme, since 2009!  Anyone who thinks Bitcoin will just abandon the blockchain and go to zero, is not looking at the fundementals underneath Bitcoin.  Here is the cycle bottom chart:
Neutral ATM buys and sells Bitcoin as little as $20 at a time!  You do NOT have to buy an entire Bitcoin.  Neutral ATM is here to get everyone off of zero Bitcoin.  


Give Neutral ATM a try.  We have low rates, convenient locations and we are expanding. Contact Neutral ATM, we will answer all your questions about Bitcoin and using our ATM machines. Find a Neutral ATM Bitcoin machine location near you.