Crypto World News: Bitcoin Uptrend Playing Out?

Bitcoin: $23,700.00

Bitcoin has broken above a previous support line. Although we are not in the clear, my outlook is still bearish. I am still looking for the $9K bottom. Hopefully I am wrong and we have a picture perfect scenario happen.

The sad fact is life doesn't always have a picture perfect ending. I wish it did for my sake. The charts show a nice sign of relief incoming. The market attempting to set higher highs and lower lows.

That doesn't seem like a great sign but it is a sign that the bottom is getting closer to being found. We haven't found a clear bottom unless we conclude this cycle with $17,500 as that bottom. In which case I could be considered wrong. I wouldn't complain.

My Favorite Bitcoin Cash: $146.3

Bitcoin Cash $146 and seems to be going back to retest a possible support line. I feel like Bitcoin Cash could make it up to $216 in the near future.

That is provided Bitcoin does not spiral down to $9K or even worse $4K but imagine a land where Bitcoin Cash isn't attached to the price of Bitcoin any longer. That would be awesome, but at least we know

The Recession: or do you mean what Recession?

Now-A-Days it seems as if everyone in the political spectrum or at least those in favor of Democrats have a hard time admitting that markets are in a recession by older definitions of recession. You may wonder what I mean by older definitions of Recession.

The sad part is with #PedoPeter a.k.a joe biden the now ranked worse president in the United States history under Trump. I guess you could say that Trump presidency took a deuce an now we have the illegitimate biden presidency.

Anyways getting back to the talking point here, the biden presidency is claiming that we are not in a recession by definition of recession. We than look to the definition of recession as so many would typical do on Wiki, right?

In economics, a recession is a business cycle contraction when there is a general decline in economic activity.[1][2] Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster (e.g., a pandemic).

Although the definition of a recession varies between different countries and scholars, two consecutive quarters of decline in a country's real gross domestic product (real GDP) is commonly used as a practical definition of a recession.[3][4][5] In the United States, a recession is defined by the National Bureau of Economic Research (NBER) as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales".[6] In the United Kingdom, it is defined as negative economic growth for two consecutive quarters.[7][8]

Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply or increasing government spending and decreasing taxation.

Now going by the above Wikipedia definition of Recession I would say the United States economy is in a starting point of a Recession. Unless every thing turns around with a quickness , once we hit the point of recession you can count on crimes going up. Along side the cost of living without income increasing really adds on to the stress.

The Bigger Picture: Meet Joe

Now, lets take a look at the "Bigger Picture." Joe is a 40 year old male who has been working for the same company for over 20 years since he graduated high school.

Now due to covid restrictions hurting Joe's place of employment, all the government/news-media lead fear propaganda that led to a large amount of people hoarding enough materials to last for a decent amount of time.

Than we add the supply industry being forced to shut down, why does this add to the storm that Joe is facing now? Well, I am glad you asked, you see. Joe is a machine operator and that machine requires a certain type of material to be provided in order to produce another material that his company sells.

Well those pesky covid lockdowns that were meant to "Help Everyone" actually created a supply shortage of the material that Joe's company needed in order to keep the doors open. Now Joe is sent home with no pay until further notice.

Joe's problems do not end here. Joe has been dubbed "Sir Bread Winner" for all the money Joe made by operating machines. Now Joe's wife Brenda is stressing out over the bills that need paid along with Brenda's need for a lavish life style that Joe was once able to meet.

Fast forward a few months than Joe no longer makes enough money for Brenda an her life style choices. Brenda starts dating Joe's Manager at his new place of employment. Now Joe and Brenda are getting a divorce an Joe is once again in need of a new Job.

Joe ends up getting to keep his old broken down motor bike while his ex-wife gets everything from the marriage. Now for most people this would be the turning point in the story where Joe blows his brains out.

instead Joe doesn't do that and he continues living while working at McDonalds because you know $18 per hour is $18 per hour. However now Joe has to battle inflation cost while governments world wide create food supply shortages to create the "Modern Famine Era"

That will be caused completely based upon incompetent politicians. Now the real questions remain. Was this intentional? If so, did they feel this was the only way to save humankind? Than why?

A famine is a widespread scarcity of food,[1][2] caused by several factors including war, natural disasters, crop failure, population imbalance, widespread poverty, an economic catastrophe or government policies. This phenomenon is usually accompanied or followed by regional malnutrition, starvation, epidemic, and increased mortality. Every inhabited continent in the world has experienced a period of famine throughout history. In the 19th and 20th century, generally characterized Southeast and South Asia, as well as Eastern and Central Europe, in terms of having suffered most number of deaths from famine. The numbers dying from famine began to fall sharply from the 2000s. Since 2010, Africa has been the most affected continent in the world.

On 8 November 2021, the World Food Programme warned that 45 million were on the brink of famine across 43 countries. Afghanistan had become the world's largest humanitarian crisis, with the country's needs surpassing those of other worst-hit countries — Ethiopia, South Sudan, Syria and even Yemen.

I feel like we have talked enough about how bad Joe's life has become. Especially considering how much worse his life will become before it starts to improve any. That honestly had me feeling some type of way.

The Real Issue is: A Liquidity Trap

A liquidity trap is a Keynesian theory that a situation can develop in which interest rates reach near zero (zero interest-rate policy) yet do not effectively stimulate the economy. In theory, near-zero interest rates should encourage firms and consumers to borrow and spend. However, if too many individuals or corporations focus on saving or paying down debt rather than spending, lower interest rates have less effect on investment and consumption behavior; the lower interest rates are like "pushing on a string". Economist Paul Krugman described the U.S. 2009 recession and Japan's lost decade as liquidity traps. One remedy to a liquidity trap is expanding the money supply via quantitative easing or other techniques in which money is effectively printed to purchase assets, thereby creating inflationary expectations that cause savers to begin spending again. Government stimulus spending and mercantilist policies to stimulate exports and reduce imports are other techniques to stimulate demand.[34] He estimated in March 2010 that developed countries representing 70% of the world's GDP were caught in a liquidity trap

How Do We Fix The Liquidity Trap?

The simple answer is Bitcoin or at least it was until the Governments got their dirty rotten policy on it. Now a lot of people will argue that Bitcoin is the only currency that you can truly hide from the Government without them knowing anything about it.

Truthfully speaking, to some extent this is true. However at some point in time when you are using those funds you will wind up making a "linking transaction" that proves you are the one that controlled that wallet.

The worse part is when you hit the point of being blocked by the system. They will flag all your assets and render them worthless. They will be able to drain you 100% financially with a simple line of code.

Bitcoin is still better given the fact that Bitcoin can not be inflated or deflated without the majority of the blockchain approving it. Even than it would be know as a Bitcoin Fork where you would wind up with 2 more coins.

Bitcoin Forking isn't all too uncommon. Bitcoin Cash being my favorite contender to Bitcoin itself. The fee of Bitcoin Cash is isn't as good as the fees from XRP but they should be in competition with each other.