We've witnessed almost two months of soap opera-esque main stream media circus bullshit about bitcoin and cryptos, that anyone with a brain cell has been able to clearly see through. South Korea is banning cryptos….. well actually, no they are not. India is banning cryptos…. yea, not really…. One after another, news stories have been plastered across the internet in a obvious attempt to drive down the Bitcoin market price (oh yes and there is a very good reason for that….)(but that's for another day), selling absolute garbage to the public with desperation that is very transparent.
But as I always say, every article, regardless of the propaganda and agendas and outright lies, has a nugget buried within it, you just have to be able to sift through the stinking offal to find it. This article from Zerohedge is one of those little gems. Lot's of blather and distraction, and yet right in your face is an absolute truth that screams to be scene:
“…many former Wall Street professionals – some with backgrounds working at hedge funds or quantitative trading shops – have embraced cryptocurrency trading….one venture capitalist interviewed by the FT offered an even more revealing answer:
“I've been out of the stock market because it stopped making sense to me,” he says. Central bank support for the markets plus the trend of passive investing have turned it into a game with unclear rules.
“Over the past few years or so, everyone has just been buying indexes and they haven't been doing price discovery.They're just investing in a trend of something going up and up and up,” he says.
… and that's all that you really need to read in the article. The Gem of truth: The stock market stopped making sense
I've spoken with several major traders over the past few years, and had contact with many others through friends and groups, who have all done the same thing: Gotten Out. Because to any thinking, logical person, it is absolutely obvious that the “Markets” are broken. Not just broken in the way that perhaps a piece is old and warn out and needs to be replaced, but busted-down-completely-not-working-at-all-any-more Broken. And it has been for a long time now. (specifically since Nov 2012). So those that can, have left the building.
The Markets no long contain any value, nor any ability to store or trade value. All that you see now is a deadman circus that is desperately trying to convince the public that “All is Well”.
…. so if you're a smart trader, no doubt addicted to the life…. where else are you going to go? Cryptos, of course. Because the Smart Traders have realized that there is no other game left in town.