Interesting stuff going on in the US economy.
While the stupid senators babble about crypto they don't know, the Biden administration continues to produce inflation in the US dollar. And inflation in the US dollar means smart money flies to bitcoin. So I'm happy as hell.
Those morons in the Biden administration have decided to raise food stamps benefits indefinitely. 25% more than pandemic levels according to some dumbass who writes for Yahoo Finance. I'm actually happy with this. Before you weird ultra Republicans start yelling about how higher food stamps by themselves are ruining the country, let's not take the wrong message here. Most of the people who get food stamps are broke ass methhead Republicans in rural areas. Most food stamps go to families with children. I'm ok with that. So why cry about it? If you're in crypto, you should be putting away your 20th century politics and celebrating Biden cementing your fuckin gains in the wall! The US government puts itself on the hook for more money, that's a higher bitcoin price and everything-crypto price! Bullish!
We also have news that Walmart stock is rising ahead of earnings. That's great news for bitcoin, too. When all of those methheads go spend their food stamps at Walmart, Walmart jacks up its prices. So the government has to give even more benefits, which jacks up the price of bitcoin even more. Don't get mad. Just get more bitcoin!
Even with all this great news, I'm still on the lookout for a serious pullback when bitcoin hits the low $50ks. Like I've said before, I think bitcoin has to grab and hold $52.5k for a bit before we can start planning our BTC$100K parties. The pullback has the potential to be quite serious if there are enough insidious actors and not enough buyers in the next few weeks. So don't let the news cycle fool you. Remember how bearish everything was just a week ago?
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