Economic News

Bitcoin Breakout – Wave 3 Underway, and Why I Am Buying a 5 Year Put Option on Berkshire Hathaway!

bitcoin breakout wave 3 underway and why i am buying a 5 year put option on berkshire hathaway

That Bitcoin chart is so beautiful!  Wave 2 down was one of the most symmetrical waves I have ever seen.  For the past couple of days I have been showing the wave 2 count, wave 2 downtrend line, and the associated “fork” that I have been projecting.  I showed how each b wave perfectly touched the mid points of my projected fork channel…
This morning the final wave down occurred, and it looked like we would slide past the fork, but at the last second heavy buying came in and ran prices EXACTLY at the point that the fork predicted.  In my Bitcoin chart below, you can see that it touched the corner, completing the beautiful wave symmetry discussed in prior articles!
With that broken downtrend line, I am pretty certain that wave 3 up has begun.  The time is now proportional to wave 1 up, we are getting 5 wave up moves, and now to confirm this is the case we need to go on to make a series of higher highs and higher lows.
If you look at the bottom of that chart you will see the macd and momentum indicator.  I drew in a red line showing the positive divergence associated with this move.  For the last day I have been seeing positive divergences, clues that the downtrend was about to end.
Once again, I think that Bitcoin challenges the $20,000 high sometime near the end of this month – if my wave count and projection are correct, it’s definitely the best time to buy.  Wave 3s are the most powerful up moves, so buying in at the end of wave 2 is the best entry point there is – Right Now!
WHY I’m Buying a 5 Year Put Option on Berkshire Hathaway!
This morning Warren Buffet opened his mainstream manipulative mouth to announce that “While he doesn’t understand them, if he could, he would buy 5 year puts on all the Cryptos!”  LOL, I love talk like that, it was only yesterday that JPMorgan Chase’s CEO, Jamie Dimon, took back his Bitcoin is a fraud comments, saying that he now sees Cryptos as legit, and regrets making those comments! 
Not only did he not understand this space, but his career, self-esteem, and livelihood depends on propping up the old, usurious system!  Now he gets it?  I doubt it, if he did, he would leave JPM, and start his own Crypto exchange!
Regarding the “Oracle of Omaha,” there has never been an investor that I know of who talks his own book more than him.  News flash for Warren Buffett, it is all the old world businesses inside of Berkshire that are going to be worth less 5 years from now than they are today!  Bitcoin will be worth vastly more than today, and I’m willing to bet Warren 1 Bitcoin against 1 share of Berkshire, that 5 years from today, that Bitcoin will be worth more than that share of Berkshire!  I’m seriously calling him out with this wager, if anyone can get this to him, I’ll stand by it.
What he doesn’t yet understand, but will, is that nearly every business he owns will be will be turned upside down by new business ventures centered on this technology.  And businesses who don’t get on board are simply going to be left behind.  
He also doesn’t get that the only reason his mainstream stocks are worth so many dollars, is that they and the profits in the companies he owns, are measured in dollars!  It is the Dollar that is the bubble, Bitcoin is a mirror reflection of the overproduction and improper rule-of-law underpinning those Dollars.  
Also going away will be his undue corporate influence on government and his ability to win laws and political gestures in his favor.  The world is truly about to undergo one of the most profound changes in human history, Warren can catch up later – I’m looking forward to my Berkshire share, even if it will buy only a fraction of a bitcoin in the year 2023!  I’m off to buy a 5 year put option on Berkshire!
I’m dead serious about that bet…

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