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Fool’s Gold

Let’s say it like it is: it’s been a tough six months for bullish BSV traders.

I am reminded of the market adage:

The market can remain irrational longer than you can remain solvent.

Irrational is an understatement.

We are living in an upside down financial world: Black is white. Buying bankrupt company stock is a foolproof money maker. TSLA valuations are greater than the rest of the auto industry combined. Closed economies are bullish. Staked DeFi tokens can pay 75% returns in perpetuity. Public company CEO’s are buying mass quantities of BTC.

This is Idiocracy applied to the Financial World. Like frogs in a slowly boiling pot of water we have are numb to how crazy the markets have become. Fool’s Gold indeed.

Fear, uncertainty and doubt are an investor’s worst enemy. I’ve had all three in ample quantity the past few months.

Fundamentals are difficult to keep in focus when the world is upside down. In the face of this I have double checked my math and reviewed the models. The fundamentals for BSV remain sound.

BSV is definitely battered but not beaten.

The Mayer Multiple indicator for BSV is nearing a buy signal again. I have written about the Mayer Multiple signal here and tweeted about it multiple times during the last down cycle of BSV.

BSV is nearing the Mayer Multiple buy signal again. This has been a reliable signal and only comes at the extremes of cycles.

The current global market trends have baffled many experts. Sanity will (must) return and at that time those who can see true value will be richly rewarded.

Oh, and one more thing:

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MicroStrategy Stocks Up On BTC

The CEO of MicroStrategy shared this info on Twitter today:

This amounts to an acquisition cost of ~$11,111 per BTC.

The strategy of putting cash reserves into one of the most volatile assets in existence is questionable for a public company. It’s even more questionable when all that money is thrown into a coin that is limited in blocksize to 1MB, dependent on non existent 3rd party solutions for scaling and recently had transaction fees exceeding $1,000.

But don’t take my word for it. Here is an excellent video series that any serious investor, including MSTR, should watch before throwing money into Crypto.

Last night Mad Money’s Jim Cramer was redpilled by Anthony Pompliano (Pomp doesn’t understand Bitcoin but he can talk in reasonable soundbites from a financial background). I viewed this as a bullish event as I expected post redpilling Cramer would be using his daily pulpit on Mad Money to urge viewers to move 1-2% of their portfolio into crypto. Say what you want about Cramer, he’s a hell of a salesman and has a large viewership. Unfortunately, less than 24 hours after his Bitcoin epiphany, Cramer called the Speaker of the House “Crazy Nancy” then went full Boomer mode defending himself on Twitter. Welp, I expect he’ll be in the penalty box a while. Let’s see if he feels like sticking his neck out on Crypto when CNBC deems it safe to put him in front of a camera again.

Looking at market technicals, I am skeptical on a BTC rally. BTC must break $11,400 to avoid putting in a lower high. If that happens then I’ll sit up and take notice. Sentiment seems to be all over the map.

While BSV fundamentals destroy BTC head to head the price action has been disappointing. BSV has a big conference starting end of September. This will be the opportunity for BSV to disclose some of the secret projects that have been held close to the vest. Or, a nothing burger. Flip a coin.

The wild card, as always, is our completely ridiculous stock market bubble and fiat printing. Anything is possible.


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The daily 200 EMA of BSV has moved $10 in six months, from 180 to 190. This is a difficult environment for short term trades. Due to this, the BSV price has been pretty boring to watch but the progress on development continues rolling forward. From a technicals standpoint, BSV is flirting with support at 160. Seems a visit sub 140 is back in the cards even if temporary. Potentially a bigger dip if broader markets continue downward.

The biggest BSV focused conference in NY gets underway Sept 30. I was planning to attend but it’s now moved to being mostly virtual. Big announcements expected.

Eventually the market will catch up and be pricing BSV for its forward potential.

On the comic relief side, here is a 3 day chart of Yearn. Yearn is a DeFi project that went from $3,000 to just under $40,000 in a month. When DeFi crashes I think it will affect the entire market, including BSV.

In other news, I’m visiting Southern California (San Diego). Future plans are to return to Puerto Rico and travel in the future. My passport is expiring soon so I am entering the queue for renewal. State Dept is quoting turnaround times in months. This may not matter if borders remain closed for rest of the year.

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