What do bitcoin, doge coin and NFTs have in common with gold, silver and oil? This is a critical question that anyone holding any of these assets at the current time should have already answered but that very few have answered.
This year, Beeple, a digital artist whose highest price garnered for one of his works as of October 2020 was a mere $100, fetched more than $69M for a piece he transformed into an NFT. Doge Coin, a cryptocurrency that started as a tongue-in-cheek joke and the cryptocurrency favored by Shiba Inus worldwide, increased to a high of $0.4377 this year, a 1,563.2X multiple over its price of not even 1/3 of one penny ($0.0028) that it held for long periods of time during 2020. For both of these assets, it’s not difficult to convince recent buyers of such assets that the insane price bubble that has formed in these assets may soon pop. However, tell anyone that bought BTC at a post $40,000 price on the hopes it will hit the $250,000+ year-end price so heavily promoted by many of the most prominent owners of bitcoin that are obviously just selling their books, that BTC’s price holds similar risk at the current time, and you will observe a most interesting phenomenon. Almost all BTC HODLers that admit the risk of the price bubble in NFTs and in doge coin simultaneously dismiss any potential risk in the current bitcoin price of $60,000+ (as of the writing of this article). So why can people so clearly identify risk in some assets but simultaneously just as adamantly dismiss risk that clearly exists in another?
There is a definite common denominator among Bitcoin, Doge Coin, NFTs and dozens of commodities like gold, silver, oil, soybeans, copper, rolled steel, aluminum, rhodium and palladium. Can you guess what it is? The common denominator is that all of these assets are subject to wild rides in price both higher and lower (though with gold, silver and platinum, it is mostly lower, and almost never higher) due to (1) a few massive whales that control asset prices through ownership of the underlying assets; (2) a few massive whales that control asset prices by controlling the derivative markets for these assets; or (3) a combination of (1) and (2). The other common denominator is that most holders of the commodities and HODLers of cryptocurrencies really don’t fully understand how the big whales use the derivative markets to move the price of these assets so drastically. This is clearly evident by comments I frequently read in articles posted on mainstream financial sites like Bloomberg, Reuters, the Wall Street Journal and financial blogs that are just flat out incorrect regarding the price mechanisms that control gold, silver, platinum and cryptocurrencies.
For example, ask any BTC HODLer today if he or she believes BTC prices could be manipulated to crash to $9,000 from a price of $60,000+ and most will say that this event is impossible even though the exact same percentage crash was manufactured by Central Bankers via manipulation of the BTC futures markets barely three years ago, from a price of $20,000 to $3,000. At the end of last year, if you asked physical gold and silver holders if they anticipated a glorious ramp higher for gold and silver asset prices to start 2021, many would have answered yes simply because the start of the New Year seasonally tends to mark very strong performance for gold and silver asset prices.
However, just reference this article published on my news site, in which I stated this explicit warning about an imminent gold and silver price smash about ten weeks ago, “Mark my word, it is near guaranteed that the CME will be raising margins in gold, silver, platinum and palladium futures soon, perhaps really soon.” And when did the CME actually hike initial and maintenance margins on gold and silver futures contracts? They hiked these margins, initiating a waterfall decline in gold and silver futures prices respectively from about $1876 and $30.14 at that time to lows of $1767 and $23.80 about ten weeks later, not even 24 hours after I issued my warning. The drops in gold and silver futures and spot prices represented respective drops of 5.8% and 21% in underlying futures and much larger drops in the range of 25% to 40% in related precious metal mining stocks over an approximate eight to ten week period of time.
And as my patrons know, I told them to not purchase any gold and silver mining stocks or any physical ounces for the entirety of this year until just recently, even providing specific names of gold and silver mining stocks trading in not only the US and Canada but in other nations as well that I favored the most. What makes such large and extended price drops foreseeable? Large whales that control these derivative markets manipulate prices almost constantly and if you follow the markets for many years (in my case for decades), then you will observe certain trading patterns emerge over the years that allows one to predict market manipulations, though of course, the traders alter their manipulation patterns over time to cover their tracks (you may view clips of my guidance in gold and silver price predictions issued to my patrons earlier this year in this link if you wish).
In the cryptocurrency game, the big whales are manipulating BTC prices with their control of both derivative markets and with their centralized control in the ownership of underlying assets. Less than a thousand BTC owners are estimated to control more than half of all mined BTCs to date, and in reality, the top ten largest BTC whales have enough clout to move the price significantly themselves without the aid of the other 995 large whales. In addition, in 2018, Central Bankers clearly utilized the newly minted BTC futures market to smash BTC prices by 85% in less than a year. Since then, the other big whales, the retail owners, have almost always perpetually manipulated prices higher. In fact, my observation of the manipulative behavior of the big whales that allowed me to predict a sustained downward price push in gold, silver and platinum prices for the entirety of Q1 2021, was exactly the factor behind my call in November 2020 for bitcoin prices to double this year. Of course, though that prediction came true, it still fell woefully short of the high BTC price thus far this year. That said, the more important point to undertstand was the primary reason I made that referenced prediction above in the first place was that behavior in BTC futures markets at the end of 2020 pointed to a massive push by large BTC whales to move the price aggressively higher in the start of the new year.
Indeed, it is curious why those that invest in gold, silver and BTC for the most part, with the exception of a few people that I can count on one hand, all seem to acknowledge the heavy price manipulation of precious metals prices that occurs in precious metal derivative markets. However, most simultaneously deny that any price manipulation occurs in bitcoin or other cryptocurrency markets and that completely free market action dictates btc prices. I suppose this committed narrative that bitcoin is the money of those that believe in liberty and freedom has been imbedded in the psyche of the BTC community through the message Satoshi imbedded in the blockchain when he minted the very first bitcoin.
Other than this built-in narrative from the birth of bitcoin, the divergence in a topic that should produce a convergent, not divergent opinion, really is inexplicable. And this year, even with the strong endorsement of bitcoin by oligarchical banking figures, like Goldman Sachs’s Gary Gensler of the SEC, US Central Bank Chairman Jerome Powell, Facebook and Paypal icon Peter Thiel, and Twitter’s Jack Dorsey, among others, it is as if cryptocurrency ownership and a commitment to much higher prices have blinded owners into praising exhibited behaviors that under any other circumstances, they would have aggressively questioned with suspicion.
And the cherry on top of the sundae is to other establishment members like CBOE Global Markets, Direxion, and Fidelity Investments have all joined the global banking oligarchs in the BTC party, currently jostling for position to become the largest BTC ETF by asset size in the world by offering the first US based BTC ETF. I find this curious because normally, anyone that has an anti-establishment position as the vast majority of BTC HODLers claim to possess, would be infuriated with BTC derivatives markets being overtaken by figures that for years, they bashed as greedy, narcissistic and anti-humanitarian. So what in the world is going on? Are they, as BTC HODLers merely selling out and flip-flopping their positions to become pro-establishment only because pro-establishment involvement is sold by the MSM as wildly positive for much higher BTC prices? In other words, are they all selling out for money over their “power to the people” movement they once claimed? Or is something more sinister at play here? My extensive research into this topic actually dates back to the establishment of the US Federal Reserve in 1913 in order to decipher all the clues, and I will be releasing this thesis likely within the next week, though I’m not sure yet if this will be a thesis posted on my social media channels or on my patreon platform.
Secondly, certainly as there is a large intersection in the Venn diagram chart between physical precious metal stackers and cryptocurrency holders, certainly there must be a fairly large segment of this Venn diagram intersection containing investors that are aware of the similarities in the manner in which the GLD and SLV ETFs were marketed in 2005 and 2006 and the manner in which future US BTC ETFs are being marketed today. As I’ve stated dozens of times in the past, one can either be naïve and believe these remarkable similarities are just coincidences or understand that banking oligarchs often use the same blueprint throughout history to achieve their global banking goals. Again, I am still finalizing my research in this arena as well and will release my conclusions in this matter in regard to the meaning of these similarities and what they predict for future BTC prices in the coming years in the imminent future.
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