Tag: South Korea

How High Bitcoin Go 2017, Many Say $10,000

Everyone wants to know how high can bitcoin will go in 2017 after the internet bubble like appreciation over the last few months. The search phrase how high bitcoin go 2017 has exploded higher over the last week.

So many people are still bashing bitcoin (BTC) today. I use to be a basher. I was proven wrong.

How High Bitcoin Go 2017

Bitcoin (BTC) can go a lot higher by the end of 2017. Most people I talk with our still in a pre-2016 mindset about BTC. You know, BTC is crazy and it’s not real money. My favorite is: it’s the currency of malware developers and so that makes me too afraid to buy it. With so many people still bearish on BTC, the market can’t possibly be in an irrational bubble.

I think BTC will hit $10,000 but not by the end of 2017. I prefer a more conservative guestimate of $4,000 by the end of 2017. My main reason for predicting that BTC will be higher at the end of the year than it is today is that the BTC boom from the mainstream media running stories last week about how $100 turned into $75 million in BTC hasn’t even hit the market yet. This is the first long-weekend that Americans will have to research BTC and to get the process started of buying it. The authentication process for websites like Coinbase take days if not a week or more to actually get signed up. Then an additional 2 to 4 days is required to move funds from a US bank account into a BTC wallet.

How High Bitcoin Go 2017 and Japan’s Yen-Bitcoin Carry Trade

Another reason BTC will keep going higher is that a growing number of people, corporations, and wall-street firms are buying BTC. CNBC published an article last week on the yearly digital currency conference and how this year was very different from past years.

BTC will keep going higher because the upward move is not being driven by speculators but instead by growing demand. Strong demand for BTC is coming from Japan and South Korea. Demand for BTC is soaring after Japan passed a law to accept BTC as a legal payment method which came in effect on April 1, 2017. Japan’s SoftBank is making big BTC investments with tens of millions of dollars in different BTC related companies. Japan is the first economy to adopt BTC at the large corporate level and that’s driving demand higher.

Think about what the people of Japan are doing. A major Japanese forex company is now letting people trade BTC and so there is a yen-bitcoin carry trade where you borrow yen at 0% interest rates and buy BTC. With the BOJ devaluing the yen, why would you want to hold yen when you could hold appreciating BTC?

How High Bitcoin Go 2017 and Beyond

Governments are increasingly looking at how to monitor BTC transactions. If governments are successful in their push for regulatory oversight of BTC transactions, we would see rapid mainstream adoption of BTC. Russia is adopting regulations on cryptocurrencies. The Deputy of the Russian Central Bank Olga Skorobogatova has called for virtual currencies to be treated as digital commodities. Russia is calling on its central bank to adopt regulations with a specific focus on tax, controls and accountability. What Russia wants to do is to make BTC transactions capable of being monitored by the government. If there’s a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations. If Russia is successful at bringing oversight to BTC, you could see Russia and many other countries adopt BTC. In fact, the reason the SEC did not approve a BTC ETF last month was due to lack of regulatory oversight.

Jeremy Liew, the first investor in Snap Inc., sets a price target on BTC of $500,000 by 2030. The mathematics behind Liew’s estimate are that currently there are 20 million BTC wallets provided by service providers like Coinbase and Blockchain. Liew expects the user base of BTC to grow 20 times in the next 13 years. If the user base grows to 400 million by 2030, that would put a price on BTC of about $500,000.

Before you dismiss Liew’s $500,000 BTC value comment as just plain crazy, here’s CNBC recommending investors buy BTC as a way to protect portfolio value. When did you ever think that you’d be seeing mainstream financial media groups like CNBC recommending BTC?

Below is the real-time market action in the Bitcoin Investment Trust GBTC and why BTC is exploding higher.

China is an Enemy of the United States Dummies

How stupid do you have to be to think that China is a friend of the United States? South Korea and the U.S. were carrying out their usual joint military exercises in the region and so North Korea violated international law and launched four ballistic missiles on Monday in response.

North Korea just figured out how to launch a ballistic missile within the last year or so, something the US figured out how to do in May of 1957. North Korea thinks it’s a big tough guy on the block now and so they are going to launch ballistic missiles every chance they get.

Being the technologically superior country on the entire plant we have deployed the first elements of our advanced Terminal High Altitude Area Defense (THAAD) anti-missile system in South Korea. This missile defense system will protect both South Korea and Japan.

So what does China do? Chinese authorities have closed nearly two dozen retail stores of South Korea’s Lotte Group, which approved a land swap with the military last week to allow it to install the anti-missile system. The Chinese extort businesses inside China because that’s what communists do. If China doesn’t like something that your government does, China will close down all your businesses inside its country.

Why would any US business owner go to China to manufacture things? Are you stupid? China is going to steal your IP, tooling molds, designs, and they will produce your product themselves and sell it everywhere around the planet for cheaper than you do (using slave labor and government subsidies), and what are you going to do about it? Even if you have the money to file with the WTO, get in line buddy, it could be years before the WTO gets around to looking at your complaint and by then, you’ll be out of business and dirt broke.

But China didn’t stop there. China said the US and South Korea should stop doing military drills and stop installing the THAAD anti-missile system in South Korea. Stop doing military drills? Folks, China is no friend of the US and stupid business owners in this country that keep taking their manufacturing to China in the name of profits deserve to be ripped off.

China has risen to power off the backs of American workers, stealing tens-of-millions of our manufacturing jobs. Democrat and Republican establishment globalists said China was going to love us because we helped them out and have given them so much business. China doesn’t appreciate the US. China stole our jobs and manufacturing plants illegally and that’s given them a lot of money to build up their military and to challenge the US every chance they get. China has always been in an economic war with the US and much of the developed world. Want the proof? Check out the documentary by esteemed economist Peter Navarro, now President Trump economic advisor.

I heard Larry Kudlow call economist Peter Navarro a “nut job” on CNBC. This is the same Larry Kudlow who wrote so brilliantly in the National Review in 2007:

The recession debate is over. It’s not gonna happen. Time to move on…. The Bush boom is alive and well. It’s finishing up its sixth splendid year with many more years to come.

Or my personal favorite from February 2000 when Larry Kudlow, then CNBC host, said:

This correction will run its course until the middle of the year. Then things will pick up again, because not even Greenspan can stop the Internet economy.

Americans Are Waking Up But We Still Need To Educate

Americans are waking up to the real threat that China is and we know that because President Trump won the election. However, I talk to people who are so ignorant about China that they say things like, “We don’t need to have a trade war with China.” Reality check: China has been waging economic warfare against the United States since it was accepted into the WTO in 2001. “We” are not waging any war but are attempting to defend ourselves against China before our entire economy is destroyed forever. Wake up.

Folks, we have lost so many jobs to China and our trade deficit is so deep, as a country we may not come out of this. China’s money already influences how mainstream media groups in the US report the news as well as who gets elected.

China saw the weakness in capitalism which is the unbridled pursuit of money, and they manipulated the US Chamber of Commerce into actually pitching to business owners that outsourcing jobs to China was a good thing because it would save on labor costs and help them make even more money. China exploited capitalism to their own advantage. Now, after being in nearly a decade long slump in the economy, these same business owners are scratching their heads wondering where the US consumers are and why the economy is still in a slump. When you move 500,000 manufacturing plants to China along with millions of jobs over a 15 year period so that the US no longer has good paying manufacturing sector jobs, what do you think is ultimately going to happen? You have a lower labor participation rate and a consumer with less purchasing power. This isn’t rocket science folks and globalist sympathizers like Larry Kudlow and most of the guests on CNBC can go shove it where the sun doesn’t shine.

Alex Jones of InfoWars points out how China is buying up media groups in the US and is expanding their influence over how our news is reported and even our movies:

What China could be doing is promoting the anti-Russian rhetoric in the mainstream media so that it can forge a better relationship with Russia against the US. In reality, China is far more an enemy of the US than Russia.

What China has already done, and is currently doing, is bad for the US economy and stock market. China is forcing us to respond to the economic warfare they are waging against us as well as their attempts to influence the mainstream media in this country. Our response to the Chinese is going to create stock market volatility and perhaps even a large market crash as the President attempts to wrestle back control of our country from the Chinese.