Bitcoin Appears Trade Positive As The U.S Hits The Debt Ceiling, Coincidence? Treasury Secretary Janet Yellen Warns Congress U.S. will hit its debt limit Thursday, January 19, 2023 – January 14, 2023,

 

 
A very interesting trend that I and a few others pay close attention to is the perception that fiat money printing is a positive for crypto, and so it wasn’t surprising to a few of us to observe a Bitcoin rally the closer we get to a potential U.S. debt default. It’s not a 100% certainty that the price of Bitcoin is rising in anticipation of the U.S. debt ceiling, but it sure looks like it.
 



Bitcoin went on its greatest rally when former President Donald Trump gave the nod to send Americans free government checks in the mail because the doctor Trump refused to fire claimed that millions more people would die if businesses weren’t shut down during the covid19 pandemic.

Bitcoin and other cryptocurrencies benefited greatly from stimulus spending; what people tend to forget is how IRRESPONSIBLE the Federal governments of many nations were, who sent free money in the form of checks to their citizens. From the information I gathered, a lot of the money stolen from the government during the pandemic went straight into cryptocurrencies, which at the time was smart because the price of Bitcoin was rising fast, and Bitcoin to the moon was seen as inevitable.

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In 2023, things have changed, more people do see the pump-and-dump nature of Bitcoin, and these rallies could actually trigger a massive sell-off if the price doesn’t continuously go up as more and more people start catching on to what’s happening.

U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress | cnbc.com

 

 

With that said, it’s not a guarantee that Bitcoin is going up because of the U.S. debt ceiling, but otherwise, there is no other reason except for “trends” that are being created out of thin air by individuals respected in the crypto community, who as many of us know are often bought and paid for, by people who are ready to sell but need a frontman to do their dirty work.

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Although I like the deregulator nature of Bitcoin, I often have to remind people why government regulations exist in the first place; in a real free market capitalistic environment, almost anything goes. In order to thrive in a free market capitalist environment, you have to be not only financially educated but also have your emotions in check because there are very smart people who know how to get you to BUY. At the same time, they’re just about ready to sell.

Because of persistent consumer price inflation, most see the writing on the wall that the global economy is headed for a recession, even if the Government is able to redefine the word. As I like to point out, until there are VIABLE alternatives to fossil fuels, expect and anticipate that the COST of doing business is going to get more expensive continuously.

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As prices to PRODUCE things get more expensive, don’t imagine that prices are coming down; instead, imagine SHORTAGES of things in which sellers are finding their profit margins squeezed to the point in which it’s too risky to invest. I’ve been seeing a lot of businesses shut their doors, and to date, I’m not seeing a lot of these businesses replaced with something of equal value.

I personally don’t think the average person comprehends how devastating an impact this war on fossil fuels is having on the global economy. My issue with most crypto enthusiasts is that they imagine the central bank as the only game in town; I argue that central banks only exist for the benefit of FEDERAL governments.

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Central banks, if respected, have the ability to allow federal governments to redistribute and manipulate the economy; however, there always comes a time in which the Federal Government takes things too far; I’m a personal believer that the PETRODOLLAR is indeed a real thing, fiat money namely the U.S dollar became the defacto fiat currency of the world because oil is bought using U.S dollars. The U.S. financial machine has spread all over the world to the point that U.S. DOLLARS have some sort of foothold in almost every bank in the world.

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This benefits the U.S. and other consumers until things go off the rails, an example of things going off the rails is declaring war on fossil fuels which is like declaring war on the developed world. If you’re an investor in Bitcoin, you’d be wise to comprehend the limitations of central banks and understand that raising the debt ceiling when interest rates are rising on paper doesn’t look like a good thing.

Bitcoin eyes $20K as the crypto market is firing on all cylinders | kitco.com

Interesting times ahead!