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AXSTONE'S FINAL WAVE (5)

axstone

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dacrunch

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dacrunch

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Cup & Handle?? Or "resistance"? I don't have a "yen"...

I've given up on both technical and fundamental analysis, everything being so rigged...
 

solarion

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Well past. The fed is officially "tapering" ...which should lead to a taper tantrum redux, some hiccups in debt and equity markets. At which point the fed will either reverse course due to intolerance of financial pain or they'll blow up financial markets as they continue to ween markets off funny munny stimulus conjured from thin air.

Either way, I rather not have a bunch of counterparty risk here.
 

southfork

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Tell me kind sir, will it take the ugly stepchild with it?
 

Lancers32

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Sure it will. Even the ugly girl at the dance eventually gets...
 

solarion

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Tell me kind sir, will it take the ugly stepchild with it?
Historically the "ugly stepchild" doesn't go with...it leads. During historic bull runs white copper...not gold drives the bus. This was readily apparent from 78-80 and 08-11. The percentage gains in gold weren't even close. The concepts is helped immensely by the law of small numbers. It's why clever PM stackers monitor the GSR afterall...right?

1640966428595.png
 

Nomis Elpmis

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When Bitcoin dumps next year, that money will have to go into something real, so I agree.
 

RebelYell

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When Bitcoin dumps next year, that money will have to go into something real, so I agree.
I never understand statements like this. If bitcoin dumps "that money" just disappears. It doesn't "go" anywhere.

One could imagine that a fall in the price of bitcoin might lead to a loss of faith in it as a store of value, and therefore lead to an increase in demand for gold as a replacement.

However that does not seem to have been the case - the correlation between gold and bitcoin over the last decade is about as close to zero as you can get.


1640981464592.png



This leads me to believe that the two are not competitors.
 

solarion

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This leads me to believe that the two are not competitors.
...and they never were, but someone/something has to be blamed for gold/silver under performance and for some reason pointing at blatantly obvious market riggers like JPM doesn't seem to be enough for some. Gold has set numerous all time highs since bitcoin has been around.

Potential bitcoin pullbacks are nothing compared to what could happen in a rising rate environment if bonds and equities pull back. Worrying about funds flowing from cryptocurrencies to PMs is like worrying about crumbs falling off a table while the dog cleans your plate. If silly people finally start wising up to the predatory dollar scam and begin protecting them selves from the inflation tax gold, silver, and bitcoin will go up simultaneously...again.
 

Nomis Elpmis

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I never understand statements like this. If bitcoin dumps "that money" just disappears. It doesn't "go" anywhere.

One could imagine that a fall in the price of bitcoin might lead to a loss of faith in it as a store of value, and therefore lead to an increase in demand for gold as a replacement.

However that does not seem to have been the case - the correlation between gold and bitcoin over the last decade is about as close to zero as you can get.


View attachment 239090


This leads me to believe that the two are not competitors.
Well, I can buy gold from several PM dealers directly with Bitcoin and have done so. The early sellers of Bitcoin will be ok and the late ones not so much. Past performance is not indicative of future results. If you think Bitcoin is a ponzi, then the 'music' can stop at any time.
 

RebelYell

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Well, I can buy gold from several PM dealers directly with Bitcoin and have done so. The early sellers of Bitcoin will be ok and the late ones not so much. Past performance is not indicative of future results. If you think Bitcoin is a ponzi, then the 'music' can stop at any time.
I agree that bitcoin could well collapse. I think it probably is a ponzi, although I suppose it may turn out not to be.

I just disagree that money will "flow out of bitcoin" if and when the price does collapse, and that gold will necessarily rise in response.
 

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I agree that bitcoin could well collapse. I think it probably is a ponzi,
Musical chairs.

If the deep state told Elon to sell a billion coins it will tank....
 

solarion

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I think it probably is a ponzi
A ponzi is a scheme that pays old investors with funds from new investors. Bitcoin is not a ponzi scheme...social security is an example of a ponzi scheme.
 

solarion

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...yeah that's not a ponzi. It's people selling stuff, spending stuff, moving stuff etc. If I buy six cars, move them a few times, and then sell them it doesn't make it a ponzi...it makes it commerce.
 

savvydon

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Looks like copper's $5 level is analogous to silver at $30. If copper moves above that it will be difficult for TPTB to keep silver below.
 

solarion

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...except in 1980 copper's average closing price was $0.98. $5 copper represents a 410% increase in 42 years. Silver's average closing price in 1980 was $20.98. $30 represents a whopping 43% increase since then.

Clearly $30 silver would have been reached about this time last year if banksters hadn't slapped it down again with their paper futures market scams on the day of the greatest silver demand in history.
 

savvydon

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...except in 1980 copper's average closing price was $0.98. $5 copper represents a 410% increase in 42 years. Silver's average closing price in 1980 was $20.98. $30 represents a whopping 43% increase since then.

Clearly $30 silver would have been reached about this time last year if banksters hadn't slapped it down again with their paper futures market scams on the day of the greatest silver demand in history.
My point exactly. There has been some sleight of hand, as in 'nothing to see here', regarding the managed price of silver. If Dr Copper pushes through another milestone it makes the silver illusion that much harder to maintain.
 

axstone

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THIS IS THE FEAR CENTRAL BANKS HAVE, THEY ARE TRYING TO PREVENT MOMENTUM TRADERS TURNING GOLD INTO A BULL TREND
THE RUNAWAY COULD BE DEVISTATING
fear gold.PNG
 

RebelYell

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THIS IS THE FEAR CENTRAL BANKS HAVE, THEY ARE TRYING TO PREVENT MOMENTUM TRADERS TURNING GOLD INTO A BULL TREND
THE RUNAWAY COULD BE DEVISTATINGView attachment 240468
Forgive me but I am utterly ignorant of technical analysis. Would any close above the green line (currently around 1880?) constitute a breakout, or do you need more than just one close above the line?
 

axstone

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Forgive me but I am utterly ignorant of technical analysis. Would any close above the green line (currently around 1880?) constitute a breakout, or do you need more than just one close above the line?
Who knows, i dont really believe in technical analysis in todays world, i just doodle
Watch the the price for 1 ounce coins closely via ebay and at some dealers