Meanwhile, out on Crypton, we see BTC (Buttcoin) having its usual 4% per day move. It has a new bull and bear market every 10 days under the 20% standard of the Wall Street Bureau of Weights and Measures Department of Bull Bear Market Standards, CNBC Division.
Oh, wait, what’s this? BTC hasn’t moved yet today. Butt its bullish pattern is in consolidation headed for cycle projections of 71,000 and 91,000 and a classical measured move target of 100,000.
The thing that the Cryptonians like to point out is that there will only be so many buttcoins produced. The thing that I like to point out is that the number of potential cryptoscopies is infinite. What are the barriers to entry, Kenneth?
But if you build it, they will come. If you can trade it, they will come. If you stroke it, they will come again.
I assume that BTC and the 10 Year Treasury Yield will break out around the same time. Although it seems that BTC leads by a few days or a couple of weeks. Suggests that some big people, very big people, the biggest, are using BTC to hedge their long Treasury net cash positions. On which they are getting slaughtered. Good for them they have many more toys in their toy boxes.
Not so good, Lord Jaysus is about to cut their allowance.
The measured move target on the 10 year would be 2.25. Won’t that be interesting. Here’s what to expect on that score.
