Chip, who runs the Chatterbot crypto and altcoin investing HODL newsletter, just posted a new blog about Bitcoin’s price predictions. It is being posted here with permission.
NURSE! Is Bitcoin About To CRAP THE BEDPAN!!? 😲😲
** SNAP** is the sound the gloves make as the nurse puts em on! and said BEND OVER!
I mean, I am hearing stuff all over the place. Bitcoin to the moon, bitcoin to zero. And its been relentless and most of them have all been wrong. As you know we sit back and study things much more at an astute level. And we use our blockchain bots or linguistics program to work out what is coming next. NO ONE IN THE WORLD can do what we do!
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Right now its hard to take CNBC and all of these other clowns seriously. Blockchain the way we see it is going to revolutionize the world. It will just take time.
Bitcoin Keeps Falling. This Week Could Bring a Bounce….. yes, but I am not really getting excited about the action as of late.
Bitcoin prices tumbled last Friday and remained weak over the weekend. I know two big bitcoin investors and had them on the phone with me this week, and they are pretty damn nervous. As they own over 80 bitcoins each. That is a lot of money at stake, and they are very wealthy investors.
Bitcoin and other cryptocurrencies were weaker on Monday, in line with the stock market, extending recent declines ahead of what could be a turbulent week of trading.
The price of Bitcoin shed less than 1% over the past 24 hours to around $21,200, off earlier daily lows below $21,000. The largest digital asset started its latest plunge on Friday, when it fell from above $23,000 to below $21,000, and continues to trade at less than one-third its all-time high from November 2021 near $69,000.
Bitcoin has fallen by over 10% since Friday, currently trading at around $20,900 and back below the 200 weekly moving average, which is an indictor watched by many who are big into crypto. So there are many nervous nellies out there at the moment. Me? meh,…. I have quickly realized, you have no choice in what the market does, so there is no use getting upset, emotional or losing sleep over this stuff.
HOPE THIS HELPS!….. Keep reading!!!….
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We even think we have found the next bitcoin, or the next up and coming coin that if you jump in now, it could change your life forever. Now I know you are thinking, here we go, this is another scam, no, we have members around the world quitting their jobs from our newsletter because you are not going to get our information anywhere else. That is something you can bank on.
Pick The right one, and At minimum you will kill it, and change your life and your families financial future. So I can see why in the future people are going to talk about this,and study this. But as we said, its early days, and we are giving our members lots of options! To put their best feet forward … > HERE! <
I mean, I can be wrong, but we are doing about 21 hours research per day with all this. So its fresh on my mind everyday as we watch the crypto market twist, turn, rocket up and come crashing back to earth. There are going to be lots of opportunities for lots of us in 2021.
Remember there are no promises with all of this. I can be wrong, but each time I sit back and listen to our bots and predictive linguistics we have running each week, its always shocked me with its accuracy, I have to do that!.
I have shared a few things here with you today, to make you start thinking…. but I think this is one of the most important articles I have written, because if you actually start taking action on some of this information, it could literally change your life. The only thing is 95% of people are too lazy and just caught up in life and their dreary day to day jobs!!!
Each day I am blessed to think what I am doing for people in the crypto community. But realistically I’m just trying to make them think more, and you as well. The possibility of this whole blockchain stuff is endless, and I bet there is some kid sitting in his room dreaming about it today, and learning about it and they do not know they will become the next Blockchain billionaire!
Its very powerful when you tap into this concept! So I will leave you with that here, to ponder on!!
There is power what you read in here….
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Once you find out many of our magical secrets it becomes quite addictive.
Before you go…..
If we are talking about the crypto markets. Some believe that the significant sell off on Friday was caused by Celsius Network, who are bankrupt, receiving approval to sell mined Bitcoin to cover their operations, It has been speculated that Celsius sold 7,000 Bitcoin on FTX spot [exchange], which led to a cascade of liquidations.
Liquidations refer to the forced selling by broker of traders’ positions in the crypto futures market, which dominates the digital trading space. Positions on margin—made with borrowed money—can be sold in the blink of an eye if the value of collateral, which is typically Bitcoin, falls below a required level.
If Celsius sold 7,000 Bitcoin—worth some $150 million—it would have added significant sell pressure to a crypto market that was already wobbly, and could have caused the price of Bitcoin to fall enough to trigger a mass of liquidations. Indeed, $210 million worth of Bitcoin futures contracts were liquidated on Friday, according to data from Coinglass, the most since a mid-June selloff that saw Bitcoin drop from $30,000 to $20,000.
Cryptos were lower in line with the stock market. While they should theoretically be uncorrelated assets, cryptocurrencies like Bitcoin have shown themselves to be largely linked to swings in other risk-sensitive assets, like stocks, and especially tech stocks. The tech-heavy Nasdaq Composite index lost 2% on Friday and futures tracking the index implied losses of 1.5% on Monday; the S&P 500 index was similarly weak.
Investors are looking ahead to the Jackson Hole Economic Symposium this week, and especially Federal Reserve Chair Jerome Powell’s speech. The Fed’s monetary policy pathway continues to dominate market sentiment, with traders’ expectations constantly shifting over to what extent the central bank will continue to raise interest rates, even amid the risk of recession.
So if you ask me, I would be thinking its more about the economy, and the fed and that situation. Because I believe we are already in a recession, and it can get worse soon, even though the criminal fed will NOT admit to that.
NOT SURPRISING!
A recent rally in stocks has come alongside optimism that the Fed could begin lowering rates in 2023, but this narrative has been challenged by messaging from officials at the central bank that fighting inflation at a multi-decade high remains a key priority. Powell’s remarks at Jackson Hole could add clarity to the market’s expectations for monetary policy over the coming months—potentially spurring a rally, or more declines.
If we look at things from a more macro perspective, the market will likely be on alert for Fed chair Powell’s Jackson Hole speech scheduled on Friday, especially since multiple regional Fed presidents have maintained their hawkish outlook for the September [decision on rates],
Bitcoin’s outlook for the week is quite unclear and the price will likely fluctuate within a narrow range until Powell’s speech, The $20,000 psychological level could be a reliable support for the price and $22,000 will likely be a resistance until then.
But if we breach that, or the there is knocks on the door there, that would ensure we see lower prices later in the year. So you might wanna buckle up. I do not really own bitcoin, but I will always watch it day to day.
I will not go into why I don’t own bitcoin, because my money is working harder else where. But you must remember BITCOIN is the grand daddy of the blockchain, and other coins can follow its lead. So I will watch it every day, without fail.
There is lots happening, and our bots predict that the prices of bitcoin are following the stock market, and so if we see trouble in the stock market soon, and YES, I do feel that is coming, then a dropping stock market is going to correlate to a drop in bitcoin price, which is going to make many people panic and take the wrong actions. The same as it ever was.
That is why I have made significant profits over the years. I have always gone against the herd and been a contrarian. Remember, I am not a psychologist, but I consider myself good at watching other people who make the wrong decisions at the wrong time, and its helped me stay away from that course of action.
Remember, I do not consider myself to be smart. I just always have learnt from watching others make HUGE life changing mistakes and its taught me that I had to make simple changes to be 7 steps ahead of them, without them even realizing.
Its about working SMARTER when you INVEST. Not working harder! Its actually more simple than many people realize. And These are concepts you cannot learn in any investing book. It takes time and many years spending time with the markets.
Have a great day.
CHIP
CHATTERBOT TEAM.
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