GunMoney

When Tether Gets Vaporized, Bitcoin Will Plummet Here's the simple premise. No technical analysis. No RSI, No MACD, No SMA's, No Volume Profiles, none of it. Two banks hold the majority of tether reserves (in USD). They are two banks in the Bahamas that have never allowed a 3rd party audit, they have never produced a balance sheet indicating any type of corporate solvency, they tried to keep their executives unknown, they act in secrecy and cannot be trusted. Banks are going under left-and-right. Legitimate banks. Real banks with real boards of directors, balance sheets, 3rd party audits, all of it. Does anyone actually believe that these two shady banks in the Bahamas are legitimate banks that can handle a global banking meltdown. Not a chance. USDT is the 3rd largest crypto by market cap, it inflates the entire crypto-sphere (bitcoin especially) massively. WHEN, not IF, but when the bank that backs tether goes under tether will be vaporized to pennies on the dollar (like FTT and LUNA just did) and the entire crypto-ecosystem will melt-down. The few remaining legit exchanges will go bankrupt, funds will be seized, and it'll be a mad-dash for the exit which will leave crypto writhing in pain for years to come. Is it possible the banks in the Bahamas don't go under? Yes, it's possible. Is it likely, no, it's not. They likely will not survive this global banking meltdown and they will bring all of crypto down with it... Bitcoin sub-$5,000 soon, then, sub-$1,000 probably. The Trojan Horse (Bitcoin) has done it's job. It has laid the groundwork for the mass-adoption of the CBDC's. It was all only a scam to implement the technology that will ultimately enslave us all. Trackable, traceable, controllable, central bank digital currency. Not cool.Comment: Impossible to know WHEN USDT will be vaporized, the banking meltdown has stalled for now, but it will happen before 2024 POTUS election. A lot can happen between now and then...

The global banking environment is SCREAMING "run to gold as the only true safe-haven".Bitcoin is trash. Once USDT banks go belly-up crypto will crater. Don't let the hype and simps fool you, gold is the only true safe-haven there is.

Let's face it, the volume isn't there. Retail buyers are broke, many die-hard crypto fans have been destroyed and the LUNA and FTX melt-downs absolutely killed sentiment and damaged the industry beyond any short-term repair.Hash-rate is falling miners are going broke and bankrupt and retail credit card debt is at an all-time high.I was looking for a pre-Christmas bull-trap, but we couldn't get the volume on the FOMC news of slowing tapering, nothing will do it now.Big volume void between here and 10K...Looking for that 9k-10K entry to at least sell the bounce and be gone...

Another massive inverted head and shoulders coming up?I'm lowering my target to $14,000 range, within a few hundred dollars, then, fun.

Sellers are exhausted.Lightning went live last week.The market couldn't be more bearish.It's always darkest before the dawn.Correction, lightning has "been live", but the new UX looks awfully adaptable...

Called this sell-off, support, and bounce perfectly so far. Let's sell-off into the weekend then we SOAR!

Bitcoin has broken above an 11-month old trendline that starts from ATH back in Nov 2021 and uses the April/May 2022 top as resistance. One more small sell-off (maybe) and it's a pump to $30,000....

It seems we may have formed a temporary bottom in crypto and stocks.A good surge takes JASMY to 200D MA, or just around $0.03. A 200% increase from my buy yesterday at $0.01.RSI shooting up, MACD oscillating bullish. Could be a 3x in 3 weeks trade....Walking back on this trade, bitcoin being held under 200W MA with zero buying significance will likely be a serious impediment. I think there's a good chance of another sell-off. JASMY had a breakout, instantly shot down due to crypto market weakness. May be a dark market for a while

Bitcoin is WAY "oversold", weekly RSI is the lowest ever.We're on (below actually) 200W MA which is historical support.Yesterday the "fear index" was 7. Today, it's 9. Markets have priced in a recession, yet we're not even in one yet.Summer bounce possible, likely even, don't sell the bottom... but be prepared for anything.

Title and chart says it all. If we get any upward momentum here this week the resistance will be very challenging to overcome. But some alts may pump huge.**Correction** not "bear pennant" but "bear flag"