Short
Time to call bullshit
We are going into a long term debt cycle:
(1) Interest rates hitting zero or negative worldwide
(2) Debt Restructuring, collaterals lose value and some are going default
(3) Quantitative Easing (If done right, the amount of credit created offsets the credit that is rapidly disappearing, so far the printing is not enough)
Bitcoins are not optimistic because first, over the last 2 months, there has been a correlation with the S&P 500. Things are not optimistic in the short run. However, after retesting key levels at 3000. Elliot wave would suggest that it bounce to 12000.
(1) Interest rates hitting zero or negative worldwide
(2) Debt Restructuring, collaterals lose value and some are going default
(3) Quantitative Easing (If done right, the amount of credit created offsets the credit that is rapidly disappearing, so far the printing is not enough)
Bitcoins are not optimistic because first, over the last 2 months, there has been a correlation with the S&P 500. Things are not optimistic in the short run. However, after retesting key levels at 3000. Elliot wave would suggest that it bounce to 12000.
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