Saturday, December 9, 2017

New CME Bitcoin Futures And The Goldman Sachs Connection

Many Bitcoin zealots enthusiasts correctly believe Bitcoin futures contracts trading at the CBOE and CME would be a boon for Bitcoin.  Indeed, the price of Bitcoin has soared since the announcements, as front-runners have been driving prices up in anticipation of the exchanges trading Bitcoin futures December 11 and December 18, respectively.  But what Bitcoin cultists don't understand is that these same vampire squid bankers who have been manipulating and suppressing commodities prices (especially precious metals) now have the opportunities (and leverage) to apply the same suppression schemes on the price of Bitcoin.  They will short and crash Bitcoin.  Satoshi is rolling over in his Bitcoin nirvana.

Early adopters who got in at lower levels should be able to ride out the rollercoaster.  But Johnny-come-lately's with weak hands who sell at the faintest signs of weakness will get slaughtered.

Walking Into Armageddon

Saturday, December 2, 2017