Jordan Belfort - Wolf of Wall Street отново избухва
This was my response to someone who thanked me for my post last week, as they followed my advice and sold out off all their cryptos, and, of course, saved a fortune:
My timing was perfect, but I have to admit that I did get a bit lucky on just how perfect. After all, it was only minutes after my post that Facebook announced their ad ban and, of course, I had no idea about that. In my mind, I figured the cryptos would start tanking within the next 12 to 24 hours, not within a few minutes. But, either way, I’m glad you took my advice and saved yourself some money.
That being said, the crypto-rout has only begun. The next stop is below $5,000, and then right down to $2400 after that. There will definitely be some dead-cat bounces along the way, but the party is definitely over, at least for these so-called “crypto-currencies,” which are actually unregulated “crypto-stocks” that the SEC was too slow and too stupid to put a freeze on. What you're going to see next is a new set of REAL cryptocurrencies—meaning, they have the backing of central govs.—as well as closed-loop token offerings within certain defined industries. But that is not where the money is going to be made. Instead, the money is going to be made in companies that use block-chain technology to disrupt various industries, and they will build real businesses around that. The days of speculating in what are actually unregistered "crypto-stocks” disguised as “currencies" are over.
As I predicted back in October, there was simply no way that the major governments of the world would or could allow this; for better or worse, controlling the money supply is the key to controlling EVERYTHING and EVERYONE, and they were not going to let that slip away under any circumstance. From their perspective, losing control of the money supply always was, is and will be a patent impossibility.
On top of that, the level of fraud and deceit, combined with the various inefficiencies that plague the current crop of cryptos, makes them good for (almost) nothing but wild speculation and the funding of illegal activities.
Rather, It’s the next evolution of cryptos where the magic will be, and they will not offer massive upside potential for speculators (as they shouldn't). Instead, they are going to use blockchain technology to make certain types of transactions far more efficient and give power back to the people for things that the various central governments will be totally okay with, like tracking medical records, voting, shipping, the facilitation of various types of financial transactions (that will still be supervised by banks) ... etc.
Meanwhile, this whole speculative currency play that surrounds bitcoin and its babies is a complete sham, and it is already starting to cause people massive financial pain, despite the fact that this is only the pre-crash.
The real crash is right on the horizon, and will be characterized by a one day decline of at least 40%, with the various crypto-exchanges locking up, which means providing zero liquidity on the way down. And while I'm not sure what day that will happen, it will be triggered by a combination of (1) increased (and coordinated) regulatory intervention, along the lines of what's happening now in India, South Korea etc. (2) the realization that tether was a massive fraud used to support bitcoin when selling pressure came in (3) a coordinated effort by the world's money center banks to make it virtually impossible to use bitcoin and its babies in the real world (4) the discovery that many of these so-called "hacks" were actually cover-ups for other crimes, like nonexistent coins and insider-theft (5) indictments being issued against the players who have been orchestrating the various market manipulations and (6) the previous 5 things leading to the end of what we used to call, back in the day: “the illusion of prosperity," which is what’s actually behind this giant bubble.
You see, it’s the illusion of prosperity - meaning, people who bought cryptos thought they' were making money based on the publicly quoted price, despite the fact that if a bunch of them had tried to sell at the same time, they would have found out that they were holding worthless instruments.
And while, of course, there will be some people who were smart enough to convert back into dollars and stay out for good, when this all over, that group will be few and far between.