Posting this from a close friend who responded to an article I sent that correlated NASDAQ/FED to Crypto charts. He has well over 30 years day trading and writing.
I think it goes much deeper than applying a correlation of NASDAQ charts and FED-speak on interest rates. The charts are similar, but my experience in the markets says it's not quite similar enough for a true correlation. And FED rates only affect fiat; stablecoins don't give damn about what comes out of the forked mouth of the FED, especially as more fiat gets converted. Think about the fact that the purchasing power of fiat has an inflationary problem, but stablecoins and the crypto space as a whole do not. 13 years of bitcoin and other worthy cryptos (and some animal meme tokens) along with the interest rates on stablecoins have made fiat's inflation moot. Crypto is too new and too revolutionary an asset class to apply any other market's metrics.
The approval of bitcoin futures for institutions instead of an ETF for the people is still the major culprit in my mind because Wall Street knows how to manipulate markets using futures. It's pretty simple. Wall Street was being left in the dust by not being early adopters, they didn't have the ability or fiduciary approval to offer crypto to their clients, the crypto space was sprinting away from their control, their clients began to get on their cases for not seeing the future (they're supposed to be the "smart money"), and they looked stupid for not only failing to embrace it, but poopooing it as it rose meteorically. Just look at the king of the Wall Street/deep state monetary orgy, Jamie Dimon. He hates crypto. Even last week he said defi in 2022 was probably going to be on the decline. He thinks he's the smartest money guy on the planet and probably can't believe he didn't invent defi. Considering JPM and numerous other “legitimate” financial institutions operate heavily in the unregulated and unreported world of Dark Pools ([Yes, they DO exist](yes they do exist-https://www.investopedia.com/articles/markets/050614/introduction-dark-pools.asp)) versus the transparency of blockchain and crypto, only those benefitting from Wall Street’s monetary orgy would give life to what Jamie Dimon has to say. Under Dimon, JPM paid over $44B in fines from 2008 to 2018, 18% of the $243B in total fines paid by the esteemed banks of the world, and who knows how many more billions since. And Dimon calls bitcoin a fraud and a ponzi scheme, crypto worthless, and defi dangerous. Jamie Dimon and others should be in prison, but instead they get bailouts on the back of the American public. Here’s a list of just a 3 ½ year period of violations and fines JPM paid from the 2008 financial crisis (https://www.dividend.com/dividend-education/a-brief-history-of-jp-morgans-massive-fines-jpm/). Special place in hell? At least some jail time warranted?
So Wall Street in cohort with the deep state went to the SEC and the CFTC, and instructed them to approve futures trading because normal people have no idea how to trade or spoof futures, only institutions do. The original intention was to kill bitcoin by shorting the price down to oblivion so the people would give up. That didn't work so plan B is now in place. Overlever the short side or spoof bitcoin futures to drive out the weak money as the price drops, cover the short positions or pull the spoof orders at a big profit when the price hits a target, and use the profits to buy physical bitcoin on the cheap. Rinse and repeat. JPM has been spoofing precious metals for so many years while simultaneously accumulating hundreds of millions of ounces of physical silver at prices they artificially depressed. The CFTC in order to look like they're doing their job slaps JPM and others with such petty fines that the fines are now just another line item in the expense column for these corrupt institutions, or maybe the fines are wheel grease for future trips down their Silk Road. Wall Street always has a plan to get their way, and our government acquiesces because they serve the big money, not the little people. That to me is the core of the injustice, and a main reason bitcoin and precious metals aren’t going parabolic in the face of the worse inflation and uncertainty in modern times.
The problem the whole corrupt government/financial complex has now is that the decentralized crypto/blockchain space has no bull's-eye. Every wallet address is just a shard of the network, and the as the network grows and gains power, the target grows exponentially, never ever to be dealt a bull's-eye death blow. In fact, now the tables are turned. The heart of the corrupt, arrogant, centralized financial system has had its bull's-eye penetrated, and it's bleeding out. Visa, MasterCard, PayPal, senators, members of congress, entire cities and countries, and even the Houston Fire Department Pension Fund have added their shards to the bitcoin network, and as bitcoin goes, so goes the whole crypto space. It's an unstoppable force gathering momentum. It is truly the 4th Industrial Revolution, and it’s being built by whimsical nerds who don’t play favorites because they’ve never been favored.
There is a new world order coming, but it might just be the People's NWO, not the WEC's NWO that is realized.
I’m calling the corrupters Brandon, and I say, “Let's Go!”
Holding the Lord and Hodling Crypto, Patrick
The condition of America today was understood by Samual Adams as follows:
“A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue then will be ready to surrender their liberties to the first external or internal invader.”
— Samuel Adams, signer of the Declaration of Independence, Father of the American Revolution, ratifier of the U.S. Constitution, Governor of Massachusetts.
Excerpt from Samuel Adams, letter to James Warren, February 12, 1779.