Soon the psychological warfare event will be over! I'm speaking of course of life during an election year in a battleground state. I must admit that moving from California, a notoriously devout blue state, to Pennsylvania, has been quite the eye opener. Half a dozen volunteers have knocked my door and I'm not even personally registered (just got another knock while I was writing this post). Those who are registered (especially independent) become assaulted by all manner of communications, from letters to email to a never ending stream of ads to pressure on social media to stress with actual friends and family. What a wild ride!
This close to an election politicians are constantly babbling about following through on actions that they never actually intend on accomplishing. For Harris this was the "tax the rich" nonsense she was spouting a while back. Unrealized taxes in America are not a viable option. She knows it; her administration knows it; their donors know it... and yet she talks up a big game because the children/voters just want to be told what they want to hear. It's the greedy corporations and billionaire's fault that the economy is doing so bad! Notice how nobody even utters this topic anymore because it's shifted out of the limelight.
This is the topic that both the left and the right are focused on at the moment. Trump is out there promising he's going to invoke mass deportations on day one of his administration. This is an obvious lie because such things take a lot of planning and groundwork, and there is no plan, only rhetoric and the empty promise of winning an election.
The democratic backlash to this fake promise is hilarious. They are arguably even worse because they know he's a liar but if the lie happens to fit their own agenda they believe it unquestioningly just like all the other dopes. What does mass deportation look like? How would a Trump administration stop innocents from getting swept up in that net? Would this hurt the economy? Blah blah blah!
Oh actually is he just bullshitting again literal days before the election?
This is the question that should always be asked but rarely ever does. Nothing a politician says right before voters go to the ballot box should be taken very seriously. After all, there's literally nothing forcing any of them to make good on their promises. If Trump wins he can't even be reelected a third time. Guy can do whatever he wants.
This is one of the reasons why I find DPOS voting so alluring from a theoretical perspective. Not only is the election public, verifiable, and enforced by decentralized encryption, but also when someone backtracks and doesn't deliver they can be voted out immediately rather than after an entire years-long term of disappointment.
The election itself has become a sell-the-news event. It's simply way too hyped up and it doesn't matter to these networks one way or another. Crypto has always thrived in the face of adversity, and taking that adversity away isn't necessarily a good thing. We become complacent. That's how we get a bloated ecosystem full of scams and other garbage.
All of crypto Xitter is experiencing massive tunnel vision right now. There's a common consensus out there that a Trump victory means crypto will moon and Harris doom. It truly does not matter either way. There may be a volatile movement right after the election in whatever direction but it means nothing. These things correct themselves after a couple of weeks. Only a day trader can capitalize on such things, and usually not even then.
My news feed is still absolutely cluttered with these midwit takes that crypto will skyrocket on a Trump victory. Friends... Trump doesn't even know what decentralization is. He doesn't know how mining works. He doesn't understand the importance of any of it. This is all lip service. It's embarrassing is what it is. Guy did not have a change of heart, he just realized he could scoop up some single-issue voters.
It's been a very anticlimactic start to November. Just like the start of October. Just like the start of September. It is nice that my prediction played out so perfectly though. I said I expected to be testing $72k by end of month... that's exactly what happened. Now we are dealing with some light rejection after some major short squeezes.
Notice that the price is still riding high compared to all the moving averages, and a return to the 25 DMA might be worth a bid (currently $67k). Then again if Harris wins the election and price absolutely nukes that's probably just free money from a trading perspective. Let's not forget that crypto is a global phenomenon and any world power that rejects it is just another reason for their competitors to embrace it.
I'm not quite sure what my prediction should be for November. On the one hand November is typically one of the most volatile months of all (both up and down). We are still firmly in an uptrend. September monthly candle was up +7% (record high) and October was +11% (lower than average). Everything is lookin pretty good but there are so many wildcards in play. My long remains open.
Politicians do not care about you or your bags. They care about themselves and the cronies that keep them in power. Lying to the public is the standard and there is no way to enforce honor in a system this degraded. Never meet your heroes.
Crypto is an anti-establishment technology. When the establishment pretends to embrace it this is not a good omen, but rather just the next phase of trickery. Stay frosty.
