iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,417 Blog Posts

Wake Me Up When Bitcoin Breaks $5,000

You’re never going to be accepted mainstream. If your bitcoins rise too sharply — you’ll be placed under arrest and the IRS will seize all of your assets — tarnish your families name — and subjugate generations of your family to ridicule and scorn.

Bitcoin isn’t a viable option for anything but speculation. The idea that it can one day supplant the dollar is laughable and you know it. From a trading point of view, sure — bitcoins and etherum are pleasant distractions, no different from clowns performing at a carnivale or children frolicking in the schoolyard — beaming one another with tennis balls.

At the end of the day, believing that BTC is anything but fun is folly.

Under $4k, it is not even worth my time to look at — but only worthwhile to mock and ridicule.

At over $5k, I will take an interest and might even invest — for a trade.

From a stock point of view, there are a flurry of blockchain related plays that will rise with the ICO market — namely TEUM, RIOT, SRAX, OSTK, and MARA — just to name a few. In Exodus, I’ve isolated all of the blockchain plays and I’ll be watching them for action.

Speaking of which, I suspect we’re in the blow off top phase of the rally — which will culminate to an end of the rally at or around $175 QQQ. This should be a fine week to harvest gains and step aside, waiting for the homo-hammers at Apple to confirm that Q2 is looking all right.

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2 comments

  1. it is showtime

    No one’s realizing the patrol road near Trump’s border wall is Wall st.

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  2. CoinSpeak

    Moon or doom.

    You, along with @jack, Musk, Novogratz and Draper, are watching the wrong horse.

    In 2020 I will seem like a genius or be broke.

    I’m betting genius (literally betting). You’ll read my blog and cry that you didn’t pay attention as I laid out the future happenings like a time traveler.

    BTC to zero. ZERO

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