Fire Hydrant of Freedom

Steven Lubka, incharge of high net worth individuals at Swan Bitcoin..

"Had a call with a financial advisor and asked him why his clients haven't bought Bitcoin yet if the ETF is obvious:

"They don't want to buy the Bitcoin they just want to buy the ETF. No one with substantial wealth has the time to figure out the asset itself"

Bullish"

Some of you may identify with the sentiment.

He explains the impact of a BTC ETF

https://twitter.com/i/status/1730789692071973091

BTC 39.5K
https://pbs.twimg.com/media/GAXZhihWMAAE8VK?format=png&name=small

Current projections are that the BTC ETF will be approved between Jan 5-10, 2024. Expect the BTC price to increase atleast until then, maybe a small pullback after ETF approval and then the journey continues.

Periodic reminder, almost 34T$ now

https://www.msn.com/en-us/money/markets/uae-officially-stops-using-dollar-for-oil-trades/ar-AA1kCMxH?ocid=msedgntp&pc=DCTS&cvid=6c9c15fb54c64b69a96c480d004b168d&ei=33

The UAE currency is pegged to the $...

Hopium alert: This is what happened after the previous halvings.

I think JM is saying burn down the Central Bank

Trump will turn around, BTC is digital gold. Not everyone understands BTC is not crypto.

Veblen goods

Two important events occurred last week, that are bullish for BTC.
1. Javier Milei got elected as President of Argentina. Arg has 140 % inflation and Javier is a professional grade austrian economist, who wants to burn down the Central bank, institute the US dollar and is pro-bitcoin. Argentina is also a G20 nation. At this time there is a team from El Salvador visiting his govt, El Salv uses US currency and Bitcoin as legal tender. Javier is also a libertarian and will likely allow his people to use whatever currency they want. Due to the weak peso, they already use Bitcoin to some extent.
https://twitter.com/i/status/1727773336900427894

2. CZ who is CEO of Binance the largest crypto exchange in the world, is stepping down and the DOJ fined Binance 4.3 Billion $. This according to Gensler (SEC Chair) likely removes the last barriers to the approval of a BTC ETF. He has been quite vocal about the manipulation that goes on at non-US exchanges. Of note, while on paper the US govt is not very pro BTC, the DOJ now effectively controls most large exchanges world wide with respect to KYC requirements.

Other very bullish events:

3. BTC ETF approval is near, perhaps in 2 weeks or by Jan 10. The institutions such as BlackRock, Fidelity etc are raring to offer BTC to the common man. Once approved, one should expect the ESG compliant solution!. BTC will now be part of nearly all portfolios and pension funds. Even a 1 % allocation will be huge, due to something known as the multiplier effect. I can post some educational videos about this if needed. Gold is recommended at 5-10 % of a portfolio.

4. BTC halving in April, this will reduce the supply of new BTC by 50 %. With supply down 50 %, demand increasing, BTC should go up.

5. From 2024 FASB regulations change to allow companies to directly  buy BTC. In the past, the record keeping required for purchase of BTC for tax purposes was quite tricky. It is now greatly simplified. This is actually quite huge and not very well recognized by the lay public.

I expect 2024-2025 to be very bullish. This may be the first time in history that lay people could get into BTC before wall street. Experts are calling BTC a new asset class.

BTC pre-halving rally (halving in April 2024) target is 39-50 K. If ETF gets approved, targets will need to adjust upwards.

US Marines holding the Chinese Flag

https://twitter.com/i/status/1725397468727456115

So Oct 22 was celebrated as a black day in POK. In other news, Pak broke the ceasefire on the LAC (Line of Actual Control) after 3 years. the LAC represents the agreed upon border, whereas the LOC (Line of Control) is the contested border in POK.

I think China is trying to get the US embroiled in the middle  east conflict, so that the US is depleted of weapons, before it makes its move on Taiwan. If the US is out of weapons, it also means that they may not have spare capacity to supply India in case India makes a move on POK and needs weapons.! This is all speculation, but considering Pak's precarious financial condition, they would not break a ceasefire agreement without Chinese backing.

Ya,

Can you please translate into layman's terms the above entanglement of lines?

BTC is expected to go up for the next 2 years or so (based on past performance). If someone is a holder of BTC and wants to cash out, the minimum target is a 100 K this cycle. Will comment, if we get anywhere near 100 k.

Oct 22 is coming. Its not on anyone's radar in the west. On this day, POK will declare independence from Pak control. While much will not change that day (apart from public agitations), it will start  the process of a public demand to merge with India. A mental switch will occur in the populace from Pak to India. It is obvious that India has decided to take back POK using a soft power approach, where the people demand to merge with India. They see it to their advantage with respect to India's advances in space (moon mission, solar mission), hospitals, education etc and no one wants to stay with Pak. In a few years India will be the 3rd largest economy in the world.

YA:  You had hopes for Oct 12 being a big day for crypto.

What happened?

Some technical array indicators were showing a big day in light of the expected GBTC ETF decision. Its happening now, as the market digests the news, 2 business days later. This week is important, for news will leak about the SEC GBTC talks. If an ETF is in the cards, BTC will do well as the implication is that the BlackRock and other ETF's will also get approved either this year, or perhaps by Jan 10, 2024, with the latest being March 2024.

US would love to take out Iran, on the pretext of their role in supporting Hamas. However, Iran controls the Hormuz strait. Oil could go up to $200, the US SPR is low, elections are near. Biden is in a bind.

GBTC

Will the US get involved and bomb Iran. Would solve the Iranian nuke issue and also Iranian support to Russia ?. This whole Hamas entry into Israel is quite fishy..too many loose ends and a lot of people sleeping. Does not add up.

Keep track of the world responses

Bloomberg video..US debt spiral and BTC

https://twitter.com/i/status/1708147949619020026

In the last few weeks the rate of assassinations of Paki terrorists to include Pak funded Khalistanis in Canada, UK and of course in Pak has shot up. They are falling like flies. Indian secret agencies and Modi is getting a lot of credit for this, but ofcourse no one knows who is responsible. The Khalistanis in Canada have interpol notices on some of them, or are declared terrorists for killing innocents, plane hijacking etc that canada has for some reason given them citizenship. This has vitiated the India-Canada atmosphere.

Based on the speeches by Modi and Indian Foreign Min, India will take a hard line from now on.

Zelensky preparing for Biden visit

https://twitter.com/i/status/1700548524100718622