The last Blood Moon was May 16th.
Bitcoin was trading around $30k (on the doubling curve).
It seemed like we might get a reversal, starting a new bull market.
Instead we crashed shortly after to the local low of $17600.
Been grinding sideways for five months now.
As if a shadow had been cast upon us.
It's not great, Dan
--- Pod Save America
And now we have a Bloodmoon... on election day... right after coasting through macro resistance, and the next one won't be until 2025. The crystals girls are losing their minds right now. Election day gonna be nuts.
Could this be the reversal signal we've been looking for?
Or perhaps the ultimate crypto winter of pain until 2025.
One can only guess.
Speculators gonna speculate.
It would definitively feel much more ominous if he hadn't of passed through macro resistance already, so it's nice that this is already happened. This combined with more and more global adoption signals that the market will turn around soon™
Here's a topic I have done the game-theory on multiple times when people tell me some bullshit like, "The government will just ban Bitcoin!" Oh... will they now?
As the US midterm elections are around the corner, crypto giants of the space have come up investing massively in electoral campaigns to immensely influence the Republican and Democratic parties.
According to the WSJ report, multiple crypto industries are now seeking to massively donate for the midterm elections to gain the government’s favourability in avoiding legal scrutiny of their business module.
Recently, crypto exchange firm Coinbase Global went under the radar of the Security and Exchanges Commission (SEC) for executing an unregistered securities exchange. Moreover, Ripple Labs has also been accused by the SEC of unauthorizedly distributing its native token, XRP.
I read recently that summary judgment will be coming down the pike in March at the latest. It's about time. Hot damn. Even if they lose, the regulatory clarity that is forced upon the SEC will be a big win for the space.
It has come to the attention that FTX Founder Sam Bankman-Fried is one of those whale donors who is willing to donate a whopping amount of $1 billion for the presidential election in 2024.
And it should be pretty obvious at this point that they aren't voting democrat. Overzealous dems have been overreaching on the crypto front for years. Combine that with the obvious fact that the authoritarian measures of COVID combined with a Russian proxy war have basically crippled the economy... people are basically over it. Dems can't win. I guess it's time for republicans to fuck everything up for the next 6 years before we can swing back the other way... assuming we don't have a completely fascist government by then that can't be removed from power without a revolution.
A boom in crypto donations for the election will attract enough lawmakers and government authorities to consider the space, as it will bring excellent legalisation for the industry.
It is quite simply too valuable. Everyone wants more money and power. Crypto is essentially a trojan horse that dangles just enough money in front of key billionaires to ensure it can never be shut down. The roots of Bitcoin are firmly entrenched within the system. Let the game of whack-a-mole begin.
It's also noteworthy to point out that Musk has implemented this haphazard $8 Blue Checkmark deal right before the election. After firing more than half of the employees... how will they make sure users don't impersonate others and manipulate the election results? Of course this is an argument espoused by the left in the wake of "Russian bots on Facebook" and whatnot. I'm not sure if it actually has any relevance in the real world... but the timing certainly is... coincidental.
Welcome to social media.
Well I do have more important things to talk about in the queue, but I'm still recovering from a Halloween cold. Damn communal candy-corn did me in. What was I thinking? Luckily it's just one of those super-mild child-colds. Almost recovered after just one day of being sick. Nice change of pace considering the last few times I've been sick. To reiterate: never eat anything that children shove their grubby little hands in. Gross.
