I'll never get tired of this. As a rational human, I know that prices go up and prices go down and I know that in the long run bitcoin is cannot but to go up in price due to its economic design that emphasizes scarcity backed by hashpower.
But that stuff sometimes can be so boring! Sometimes it's just nice to sit back with my coffee, howl in pleasure and yell
It's really just that simple sometimes.
And, in the past 18 hours or so, up they have gone!
Wow!
Obviously, there is one main reason for this bull market IMHO. And it's the same reason that the stock market is encountering crazy counterintuitive price action. Yesterday, the US GDP reported a -4.8% print, the whisper numbers on unemployment filings (underfunded and understaffed American states just can't process the filings fast enough) put the unemployment figure in the US already in the ballpark of 20 to 24%... and, of course, the S&P500 goes up 2.6% on the day. I mean, "Holy shit, what the fuck? Everything they taught us in school just throw out the window." Let's all just go on r/wsb and YOLO Market Buy the Whole Damn Moon!! (Not financial advice, by the way.)
I'm really curious about Thursday's market close so we can see, like we do every week, just how much work the Fed has put into its printing press. Currently, the Total Assets on the Fed Balance Sheet stands at $6.573 trillion. Given the market action in the past week, I'm curious to see just how close we get to $7 trillion. We really might be a lot closer than people expect. That's unprecedented shit...
So as we bask in the glory of all that is Our Holy Zee Jerome Powell, we should say a little prayer over lunch or dinner or breakfast or whenever you eat the most food that you've bought online from some Big Tech firm whose stock price is assuredly and inexplicably about to hit a new, fresh All Time High,
