Amidst the fanfare of Bitcoin projections and market optimism, a stark reality unfolds. The brilliance of hooking investors in and then pulling the rug is now evident, as an analyst downgrades Nvidia, attributing it to the implosion of the Artificial Intelligence hype cycle.
The current economic landscape exacerbates the crisis, with millennials grappling with two recessions before 40, staggering student debt, and soaring living costs, creating an affordability nightmare. Microstrategy CEO Michael Saylor’s decision to sell $216 million in stock adds to the ominous signs, reminiscent of past market manipulations, such as the Y2K era.
Bitcoin, once a speculative high, now experiences a turbulent ride, crashing after reaching a new high to start the year. The conundrum extends beyond cryptocurrencies, encompassing entities like Go Daddy, Nvidia, and the Dow Industrials, reflecting a broader market con job.
Adding to the unease, historical data indicates that after the last rate cuts four years ago, the market hit a limit down. Stocks and bonds registering their most significant decline to start a year since at least 2002 accentuates the gravity of the situation. As overbought conditions persist and sentiments remain bleak, the economic landscape faces unprecedented challenges, leaving investors and markets on edge.
Anticipate a substantial #Bitcoin surge to $50,000 in January, driven by an imminent #BitcoinSpot #ETF approval, institutional buying, and factors such as supply shortage and historical trends, with potential for #altcoin season and a funding rate reaching +66%.
Read the full… pic.twitter.com/sueG5LqENp
— Matrixport (@realMatrixport) January 2, 2024
Analyst sees 15% downside risk for Nvidia stock as AI hits ‘trough of disillusionment’
twitter.com/1200616796295847936/status/1742518922606153785
Microstrategy CEO Michael Saylor just said he's selling $216m of stock.
Does anyone remember Y2K? He was pumping and dumping his own stock back then as well. Crypto gamblers were in kindergarten.
Great indicator for a speculative top in this super bubble as well. pic.twitter.com/2H0rHeeNwP
— Mac10 (@SuburbanDrone) January 3, 2024
Bitcoins are crashing. Notice the rope-a-dope new high to begin the new year and then straight down to the 50 dma for the first time in 3 months.
You might as well be buying Crapto currencies as Go Daddy, Nvidia, or the Dow Industrials.
It's all the same con job. pic.twitter.com/W1jrTI9QkW
— Mac10 (@SuburbanDrone) January 3, 2024
It's important to remind everyone that after the last rate cuts – four years ago – the market was limit down.
Why that's good, is not for me to say. pic.twitter.com/ulNnF03ekJ
— Mac10 (@SuburbanDrone) January 3, 2024
Bulls probably assume I was flummoxed by today's BTFD.
It made perfect sense. pic.twitter.com/OJwkJe4WxF
— Mac10 (@SuburbanDrone) January 3, 2024
If the Fed does continue with QT, as it says it will, we’ll see another Repocalypse later this year like we had in 2019, maybe worse given the size of the Everything Bubble that the Fed is trying to take down plus the greater amount of dependence throughout markets and … t.co/nAvfvdqueq
— Peter Spina ⚒ GoldSeek | SilverSeek (@goldseek) January 3, 2024
By one measure, stocks and bonds just fell the most to start a year since at least 2002. “The overbought conditions and sentiment readings are tough to argue with.” t.co/gIfubI0bty pic.twitter.com/wwWtzA3ExU
— Lisa Abramowicz (@lisaabramowicz1) January 3, 2024
Me trying to invest with stocks near all-time highs, interest rate cuts looming, FED tapering, Bitcoin soaring & Wall Street calling for a literal recession every 5 mins.
— Genevieve Roch-Decter, CFA (@GRDecter) January 2, 2024