While the media is obsessed with Trump bashing, the world of business continues to turn. One such turn is cyrptocurrency which is smashing the markets right now and getting very little media attention that is positive. In fact, the major banking institutions missed the boat, and curmudgeons that they are, they are determined to ignore reality. And reality is:
Bitcoin – up 2125% in 12 months
Litecoin – up 9800% in 12 months
Ethereum – up 7266% in 12 months
And still! The major outlets either ignore these stats, or refuse to acknowledge that they happened and claim it is all a crash and die bubble.
Maybe. But – maybe not.
Some of the bigger companies already accepting Bitcoin include; Microsoft, Overstock, Subway, WordPress, Reddit, Expedia, Virgin Galactic, Wikipedia, etc… Russia recently announced that in response to the continued sanctions, they may team with Iran and Venezuela to drop the US dollar as their primary currency for trading oil and revert to cryptocurrency. They did not specify which one.
As of December 10th, futures trading on the Cboe Exchange was launched creating a frenzy of buys and sells. This is not for the faint of heart. When a correction occurs, which is frequently now, it easily shapes into a 20-25% curve. Exchanges crash temporarily unable to hold up to the massive volume, and the ride continues.
So why did the major banks and financial institutions avoid the crypto surge? The most obvious reason is because they don’t have control. It is outside of the Federal Reserve heavy hand, outside of government’s Big Brother hand, and thus a free reined Bronco!
In addition, the existence of money outside of cash may ultimately effect lending and mortgages as money can be made available through an open source peer to peer market without interference, or hefty interest rates.
More importantly, Cryptocurrencies undermine the Soros Cabal because they are no longer in control of the economy, the spending, and the flow of money. While claiming that cryptocurrencies promote money laundering, the truth is, money laundering is already well entrenched in the offshore banking industry in which Soros is well ‘funded’, avoiding taxes, and hiding – money. So the argument is relatively benign.
Cryptocurrency should be the story of the year, and yet the media is dragging it’s feet, and instead promoting stories in their Business Section like: Sexual Harassment and HR, St Louis Reconnects With The Gateway Arch, The Alternate Right Created A Parallel Internet, Will Robots Take Our Jobs, Alabama’s Election Reshaping Washington, Trump Escalates Criticism of Media, etc… BORING.
And the DOW went up .56%…
There are currently roughly 125 Hedge Funds investing in cryptocurrencies as of October. The top five crytpocurrencies now have a market cap of over $406 billion. DAILY trading volume of just the top five is well over $29 billion. But hey, this is just a bubble?
There are 1344 cryptocurrencies with more coming online as the concept of a free market explodes. Millennials are driving the trading as they pour every available dollar into what they see as ‘the future’. And the codgers will be left behind because as currency trading shifts from standard currencies, the dollar, the Euro, the Yen will take a nose dive.
Futures trading will impact crypto trading simply because it offers the ability to short the market, something Soros may manipulate. In the meantime, CME, the world’s largest futures exchange is slated to launch futures trading in Bitcoin December 18th. It is thought this will usher in the ETF’s and an entirely new platform of trading.
LET THE GAMES BEGIN!