Trump, Hype and Correction
Don't give in to the euphoria in the crypto market. Let's remember what cryptocurrency is. I'm not talking about blockchain technology. Any cryptocurrency is an asset that everyone buys to sell it for more later. The absolute majority don’t use crypto for other purposes, for example to pay bills and transfers. That is, cryptocurrency have no real value now, it’s only a speculative asset. Whether you want to agree with it or not, it’s a fact. Even 10 years ago, crypto enthusiasts claimed that soon the whole world would actively use cryptocurrencies and pay with them in stores, but this never happened. On the contrary, many companies have refused to accept payments in cryptocurrencies due to the excessive volatility of their prices.
The crypto hype around Trump is dubious. In a 2021 Fox News interview (https://video.foxbusiness.com/v/6257768965001), Trump called Bitcoin a scam. As the 2024 election approach, his rhetoric on cryptocurrency regulation has softened. He has won the sympathy of the voters from crypto industry by changing his statements about crypto. He is probably not a fan of cryptocurrencies at all, time will tell. In any case, the current crypto boom and excitement are artificial. ETFs and MSTR played a special role, making significant purchases. The first ones don’t risk their money, but invest the money of trusting investors. And the latter, in our opinion, are actually risking future bankruptcy if the price of the first cryptocurrency falls below $60,000. And again, everyone is buying Bitcoin to sell it later for a higher price. But will people buy it at $110,000 or $120,000 when all this hype is over? There is huge doubt.
Over the past 30 days, long-term holders sold ~830K Bitcoins for ~$82B to retail investors (Cryptoquant). These retail investors may become "hamsters". The fact is that a correction is beginning, related to the negative military-political and economic situation in the world. Now is the best time to sell.
Also https://x.com/realDonaldTrump/status/1149472282584072192
