While bears expect BITCOIN to reach $53,000, JPMorgan analysts believe that both Bitcoin and gold will rise during the remainder of 2024, due to rising geopolitical tensions in the Middle East. It seems paradoxical, but after Iran's attacks on Hebrew territory, gold soared to an all-time high of $2,690 an ounce. Today, Israel has confirmed that it will avenge the missile attack carried out by the Persians just three nights ago. What escaped Grandpa Biden in an unusual press conference was that the Zionist attack would be directed against Iran's oil infrastructure. With the US president's senility, it is difficult to determine whether it was part of another of his follies or whether it was information that had a purpose other than to move oil prices.
On the other hand, the American investor and businessman Warren Buffett stopped selling Bank of America Corp. shares. Although this is happening for the third time in a row, after the historic highs of gold, the substantial increase in the number of jobs in the US and the resilience of BITCOIN to the attacks against Israel, it seems that everything points to both BITCOIN and gold being the safest assets in a war scenario where Persians and Jews will spend the next few months exploding with bombs until the market ends up assimilating them and simply becomes indifferent, as it decided to do with the war in Europe.
What is absolutely certain is that the market is waiting to see what the Zionists will do to get revenge on the Persians. With their pride wounded, everyone expects them to pull out a superweapon that ends up destroying all of Iran's military, industrial and energy infrastructure in a lightning attack with stealth aircraft and bunker-busting bombs guided by the seven thousand eyes of Elon Musk and the spirit of Adonai, the God of the Mountain. I highly doubt that Israel's attack can bring us anything new to what we have already seen, and even more so after seeing that its Iron Dome failed to contain a large part of the missiles that destroyed an airport full of expensive F-35 aircraft. They will not risk provoking an even greater response from the Iranians that would leave them in darkness for ten years, with Iran having the capacity to destroy in retaliation the three power plants that light up its entire territory.
BITCOIN did not fall further than what we had seen on the famous Japanese Black Monday, so it seems that the bears can wait for BITCOIN at $53,000, to then see it with tears in their eyes quickly reach $70,000 and continue on to $80,000. Today I was surprised to see coins like BITTERSON recover almost their previous value, close to $600, with BITCOIN at $62,000, a behavior that was followed by other ALTCOINs that seemed to resist the BITCOIN dictatorship. So, although we do not have ALTCOINs with the prices of March and April 2024, it seems that they are capitalizing enough to rise with their own momentum just as the vast majority of ALTCOINs did. Looking at today's panorama and ALTCOINs and correlating it with the price of BITCOIN today, it seems that we will see a November with spectacular ALTCOIN prices. I am quite optimistic and I fear I am not wrong when I say that it will be from the second week of October the beginning of a real growth in the value of cryptocurrencies, simply because liquidity is increasing and a large part of all that money will go to BITCOIN to then spill over into ALTCOIN. We will see if my perception of the market and my vision of its behavior in the days to come end up being fulfilled and I can buy a radiotherapy equipment this year with the profits of the expected bull market, or âbull runâ (bull run) which for those who are coming the bull run is defined as a period in which the majority of investors buy, demand exceeds supply, market confidence is high and the prices of our currencies rise. Amen.
Jorge Ferrer
Bachelor of Business Administration
Side note: A bull market is like a charging bull, with optimism and upward momentum. Prices rise and traders feel optimistic about the future. In contrast, a bear market is like a hibernating bear, characterized by pessimism and downward pressure.
