$GME up 20% on the day.
But it's nothing special imo. This is a major mispricing from the biggest Wall Street narrative we have seen in crypto.
$SPX just hit 400M
$GME still at 26M?
The gap will narrow very soon. The Risk to Reward is too good? Would you rather invest near the floor price of a token which hit 220M already. Or would you rather top-blast into a token at price discovery that just hit 400M?
Just do the math and build your own conviction. The trajectory of this is way too obvious...
$BTC bounced off that 59.5K support, which is a good sign, a key support level has been defended for now. As I look at each of the October month in past BTC history.
BTC does is actually mostly FLAT in 1st half of October, and then rallies up in the 2nd half. SO if we follow history again, then BTC could stay flat until mid-October, and China stocks rally and takes away the hot money from BTC. But then after mid October China stocks finally pull back, and hot money comes back to BTC and push it to above 70K.
October has been the start of the bull run in all past BTC bull runs, so I remain bullish on BTC and crypto as long as a recession does not hit yet.
Congrats to everyone who spent 4 months or more tapping every hour of the day, missing out on sleep and getting their friends in to tap too.
YOU MADE $5 😂
A 30 minutes minimum wage job can yield you more than $HMSTR
@hamster_kombat 🤮
Exchanges do NOT want to crash price of $BTC the way they did earlier this year. Like a crash below 49K is not good for exchanges, UNLESS there are so many leveraged Longs that exchanges are forced to crash it to survive.
Right now, I don't think that is the case. Exchanges make the MOST money when $BTC price chops sideways or goes up but chops a lot as it goes up. Because when prices chop, then exchanges liquidate longs AND squeeze the shorts.
They make money BOTH ways. If $BTC price went to say for example 45K or 40K, then many traders will throw in the towel thinking a new bear market has started. And trading volume will be down a lot, so how is that any good for exchanges?
A lot of exchanges will go bankrupt in bear markets like FTX went down. Exchanges want prices to rally slowly, with lots of big cops in between.
Survive till October brothers and stay safe in leverage🫶
💡Macro-market Thoughts
Pure fear and panic in the markets, basically, all of a sudden everyone realised, jeez, it could be a recession coming.
Most of the market was betting on a SOFT landing, and very few like me were saying it's a recession, it's just taking longer for the Yield Curve to invert back to above zero is all.... And now look at this yield curve, it is so close to getting back to normal now, the major recession signal is almost here.
So I still say the most important chart here is the USD/JPY, because of recession fears FINALLY sinking in, and Fed is projected to cut 50 pts in Sept and then 50 again in NOV... All of a sudden market has Fed cutting 100pts by NOV now.
Anyways, so USD has tanked, that means USDJPY has crashed lower, thru key support at 150 area. And this is like a massive Margin Call, because a lot of hedge funds now panic and need to sell stocks to get their money back into Japanese yen to repay their loans on the carry trade. So that is why NASDAQ and SP500 are selling off, and Gold also because some used borrowed JPY to buy Gold as well.
So as stocks sell off, then MORE margin calls are made on traders who used margin/leverage on Stocks, now to protect their position, they then have to sell something to cover their margin calls. So they sell BTC ETF and ETH to pay for their margin call in stocks. This os the cascade of selling due to stocks going down, which is ultimately caused by the crash in USDJPY.
When we get into a real bear market we are gonna see market meltdowns on this similar kind of logic but obvioulys much more intense. This is only a pre-show, it's not the main event yet. The market is likely crazy enough to rally it back to a new ATH after this dump is over for a final Blow Off top.
Just grabbed a bag of $DAD.
Very meme-able event that has taken over social media. Reminds me of the Khatchu girl which went very far.
Turkish hitman in the Olympics @DadERC20
https://t.co/dJ3CVxSxhy
I truly believe my community is the biggest winner on X these dates.
The last two pre-launch calls we made were $SHIBA and $PENDY whereas Shiba shot up to 2.2M from 20K yielding all the eyes prepared over 110X and Pendy shot up from 30K to 11M which is a astonishing 360X gain.
If you got in early to any of these plays with $1000 then your bags at all time high would be worth more than $400,000!
I will be sharing more and more plays over time until everyone following me can afford a Lambo with the color of their choice.
Should I share another one today?