Inflationary pressure has been clear in late 2021 and early 2022, and the Fed has signaled it will hike interest rates four or five times in 2022 -- to tame it. Each hike might be a quarter to a half of a per cent.
That alone would cause a serious tightening in the economy, which itself might take another six months to re-calibrate, adjust and recover.
That’s the case for a "risk off" rotation — and thus, a crypto winter through perhaps mid 2023, minimum. And Forbes sees the low temps during this “winter” hitting $10,000 — or down about 75 per cent from this morning’s spot levels around $44,000.
So, as a Condor prediction: that outcome is far more likely than some “magic beans” explosion to $200,000, as predicted by the “Bitcoin moonies” -- all by the end of 2022.
And Riot Blockchain will “die on the vine” at $10,000… again (as in early 2020).
Now, all of this is here because I was amazed by the story of the $3.5 billion "Bonnie and Clyde" Bitfinex arrests yesterday. The pair could easily have been ripped from a Marvel comic book.
And they may inspire a new blog, like the Shkreli one. But most of all, after watching her "rap" (trust me, you do NOT want to see THAT!). . . I kept thinking of the below scene by the immortal and very-campy Eddie Arcadia’s girlfriend in “The Last Dragon” — she’s played charmingly by Faith Prince. Do watch; it well-captures all this couple. . . is:
Hilarious! And. . . now you know. Onward, smiling. . . .
नमस्ते
1 comment:
Once more, at 9:36 pm, just now… baby girl may need shoulder surgery… like my youngest boy four years ago. Ugh.
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