Investors Ditch the Euro and Pound for Bitcoin in Record Numbers
Please consider Investors Ditch the Euro and Pound for Bitcoin in Record Numbers
“As these individuals from the UK and EU see the value of their currency collapsing, they effectively selling the pound and euro for Bitcoin. If this were just a trade to capture the volatility, we would have seen similar spikes in May 2021 and certainly in March 2020.”
I counted 35 repeats of this Tweet.
Those Tweets all stemmed from this one.
What It Means – Two Choices
- Given that Bitcoin is barely holding $19K as I type ($19,200), it means that it takes record buying just to hold the price where it is.
- Alternatively, it means that this record buying is insufficient in size to matter.
Either way, this news repeated at least 35 times, is at best meaningless (case number two).
Assume record buying in Pounds and Euros matters. Then for price to be struggling in this price zone implies others are dumping Bitcoin enough to matter.
So if record buying matters, then who wants out at $19,000 enough to offset the British Pound and Euro buyers?
Bull Case For Bitcoin
The Pragmatic Case
Extreme Bulls
Speculation Mania
This post originated at MishTalk.Com
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For the American tourist or businessman, the trick is to figure out where the fault lines are and use them, if for nothing more than a free glass of wine or pint of ale.
You’re in Scotland? “We were just in London. You pretty much have to go through there, like it or not. London! Great museums. Them English had great taste in theft. But London! Now there’s a city with all four cheeks sucked in.”
You’re in Milan? “We were just in Rome. Saw the sights, and it was interesting. But the garbage! The place stinks! Nothing works!”
You’re in Rome? “We were just in Milan. The streets are interesting, and the food is excellent, just as it is anywhere in Italy. But I’ve never seen such a bunch of snobs!”
It goes on. If it were just that, it’d be amusing. But look at the Europeans. Every hundred years or so, they go nuts.
“This is my third time in Milan, and it keeps growing on me. Especially the food. I’ve never been to Rome, and am really looking forward to going.”
(One client literally spits on the floor of a nice cafe.)
“Rome! They’re nothing but a bunch of fat, olive oil-slurping peasants! Don’t go to Rome!”
Hey, these are fun anecdotes, and I’ll also admit that my understanding ain’t exactly comprehensive. It has helped me at times there. Know who they hate, and join in. LOL
rises.