So I was thinking I couldn't call this post "Perfect Storm" because surely after 6 years of blogging on this network and thousands of posts I would have already used that title. Turns out... not. I've only used the keyword "storm" in two posts eva! Shocking I know!
The Perfect Shitstorm
This one is a wild ride. It takes place in the middle of the Steem hostile takeover in March 2020.
Dear Diary, It is day 12 of the Sockpuppet invasion, and I still have a bunch of random things to say.
lol k. Remember the toilet paper shortage?
Blast from the past.
Calm Before the Storm: We are the Swarm
Nobody calls Hive the Swarm except me, and I'm still salty about it! People still say Hivians (ew) or bees (better). For the Swarm, friends. Note the date on this one: January 17th, 2021. Guess what price Hive was trading at? 13 cents. lol. 11 months later we were peaking over $3 (while 6 weeks later we had a local peak at 84 cents)... x6.5 in a month in a half not too shabby) . What a wild bull market year that was... and 2025 is probably going to be even crazier. Actually I guarantee it. For whatever that's worth (which is near zero).
Point being that when I put the word "storm" in the title of my post: crazy shit is going down for sure. Take note.
LoL WTF!
So THE DAY AFTER the Ripple case concludes the SEC approves the Blackrock spot ETF on Bitcoin... really? REALLY? What a crazy coincidence, eh? Well anyone that reads my blog religiously (which is weird to think about but is definitely a thing) already knows that I was EXTREMELY skeptical about all the delays in the Ripple case. I went so far as to claim it''s being delayed on purpose so that someone can manipulate the market. The judge had all the information they needed to make the decision all the way back in March. It made no sense to keep delay delay delay.
And then lo and behold THE DAY AFTER Ripple "wins" this happens... one of the most highly anticipated moments in crypto history; a spot ETF. What the hell. These people aren't even trying to hide their blatant corruption anymore. It's like every day that goes by we get another example of how the present day and the fall of the Roman Empire are intrinsically connected. End of an empire BB.
Is that not enough evidence?
I mean sure it can all be coincidence, but it's so obviously not. The people in power use their power to enrich themselves and the network around them. This is nothing new. Everybody does it. I've seen the exact same shit pop up in politics as I have in being a member of a World of Warcraft guild. One person gets the tiniest amount of power and all of a sudden it goes to their head and they exploit it. People are people. Social dynamics are social dynamics. These are universal concepts that extend across all borders, just like crypto.
Binance + Coinbase
Was it also a coincidence that the SEC levied lawsuits against the two biggest players in the crypto game back to back within the same 24 hour period? Of course not. Anyone with half a damn brain would NEVER DO THAT because it would obviously cause more volatility and hardship in the market than necessary. The only rational conclusion is that the SEC is manipulating the market on purpose, and they aren't even trying to be subtle about it. Their stance is quite clear: pave the way for institutions to eat everyone's lunch. Business as usual. Wall Street wins... or at least that's the game-plan; the tried-and-true playbook.
Speaking of "institutions"
Remember how Ripple "won" the lawsuit against the SEC? LoL... actually they lost. The judge ruled that the sales of XRP to institutional investors were 'obviously' an investment contract. I don't know if I agree with this ruling from the research I've done, but logically it makes perfect sense. The entire point of being an institutional investor to make these kinds of investment contracts. They expected Ripple to make them rich from these private sales, which was unsurprisingly interpreted as a security. That being said institutional investors also buy gold which is obviously not a security or a contract, so the logic is flawed.
Rules for thee, not for me.
The ruling of the judge to claim that sales to institutions were securities contracts but sales to retail were not is very telling to say the least. This feels like an expertly maneuvered political play. Best of both worlds; everybody wins. Really quite impressive honestly. But it also heavily implies what we've already known: institutions get special undeserved privileges that regular people simply don't get.
When it comes to institutions the law just flip-flops in their favor and makes the opposite ruling using the exact same evidence. The judge will do their little song and dance justifying why the ruling makes sense, but it's all bullshit. This is corruption of the highest level. And that's fine honestly; in fact it is the exact reason why crypto exists in the first place. So hurray for centralized corruption.
Funny how everyone ignores how Ripple lost and just focuses on the win. To be fair it makes sense because secondary sales of XRP being ruled as securities would of had a very negative affect on crypto as a whole in the future; a future where everyone would be afraid to list anything for sale. It would have set an awful precedent going forward. Meanwhile, sales to institutional investors being ruled a security has zero effect on the future. It's something that's trapped in the past and never needs to happen again anyway. Pay the fine and move on. Water under the bridge. Business as usual.
Of course I can't help but think that this will somehow be used as leverage to control the onslaught of Bitcoin spot ETFs coming down the pipe. Although I have no idea how considering Bitcoin has already been ruled-not-a-security. Again, the timing is not only suspicious... it's just downright blatant. So who knows.
- ripple
- blackrock
- halving
- liquidity
These are the four horsemen of the bull market apocalypse
Thus far we've already talked about Ripple & Blackrock, but there is also the halving and liquidity to discuss. Long story short the BTC halving event is super overhyped and will happen in less than a year. Current projections put the block in question in the month of April. Again... the timelines are all adding up to a perfect storm, as peak speculation for overhyped events often occur 3 months before the event itself. Buy the rumor: sell the news. That puts a potential peak for crypto in January... which aligns with all the other timelines we've discussed thus far.
RISK ON BABY
Liquidity is coming back to the markets. While everyone is talking about an impending recession, the market is coming out of the recession we've already been in for over a year. Funny how that works out, eh? When the recession is happening the Biden administration changes the definition of a recession... then as we move out of the recession the propaganda machine is telling everyone the end is near.
This is not an accident. The sheep are being fleeced. Seriously though at this point just believe the opposite of whatever bullshit the mainstream media is feeding the plebs. If the mainstream media is worried about a "recession" and a loss of "USD dominance" then I have to assume the exact opposite is happening. For more information on this topic watch some @taskmaster4450 vlogs, as he makes some great points as to why the market cycle is shifting and liquidity will flow back into the ecosystem.
Final thought.
Every day, on my birthday, crypto does some crazy shit. Every year without fail. That's mid-November by the way. This year I turn 40. I guess I'm old now! Ah that's fine I don't feel old. What a glorious time to be alive.
Point being that November 2022 and 2021 both sucked. The peak was already in come 2021 and then 2022 was literally the FTX collapse (lol). I'm due for a win. 2023 is my year. My plan is to claw and scrape as much as I can until then. I suggest you do the same. We're in the final stretch. The year of the maximalist is coming to an end, and it is not disappointing.
Return from The Perfect Storm is Here, as Pr-edicted to edicted's Web3 Blog
