Bitcoin Tidbit

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It’s been a while since we considered the freakish pledge of this chap:

In case you weren’t aware, John McAfee isn’t some random lunatic. There’s a huge office building a few miles south of my home with his name on it. He was a fairly big deal in the world of software. But now he’s got, umm, other priorities.

Indeed, it occurred to me that all time time people have been waiting for the end of the year 2020 to see if Mr. McAfee has to gobble his gonads or not. Yet judging from the above tweet, shouldn’t the deadline be more like July 17th, less than 2 months from today? Perhaps this is a mere quibble. I don’t think Bitcoin is going to get to the pledged $1 million price by July 17, or December 31st, or the year 2050.

The latest ‘this is going to make you rich, promise, for sure” was the ‘halving” event of May 11th. Well, May 11th has come and gone, and I’m not exactly seeing fireworks here. In fact, it doesn’t look much different than the last time the price simply bouncing in a series of lower highs, like a racquetball springing down a flight of stairs.

Using the “2 x 1” feature in SlopeCharts, we can see the analog more clearly. The upper portion of the chart shows what happened a few years ago. The lower portion is current. I’d guess a slump is on the way.

Suffice it to say, if John is in the market for some more slacks, he can probably choose the pair with a touch less room in the front. He’s not going to need the extra space.

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