The BTC Community Insisted Gary Gensler and BTC ETFs Would Be Awesome for Future Prices. I Insisted the Opposite Would Be True
Let's See Who Turned Out to Be Correct
In today’s exclusive skwealthacademy substack podcast, I discuss the dangerous delusions of many members of the BTC community when they promoted community support of the enemy, like Goldman Sachs made man Gary Gensler and US Fed Chairman Jerome Powell, as advocates for the bitcoin community. In fact, on my Rokfin channel, I could not have been more explicit in my warnings that believing these two men were net positive for BTC’s future price, as promoted in Reddit threads titled “Gary Gensler is good for bitcoin” was a fool’s undertaking in my published diatribe here many months ago titled “Why the Cryptocommunity’s Trust in the Two Men Will Cause Its Downfall.”
Furthermore, I excoriated all BTC analysts that were stating that the release of BTC ETFs would finally bring institutional money pouring into the BTC space, thus multiplying BTC prices in the future, citing these analysts for a complete lack of understanding of how BTC price mechanisms work. To the contrary, I predicted that BTC ETFs would be a terrible development for the BTC community and lead to lower prices in this post, published when the first “BTC ETF” BITO was approved by the BTC community’s darling Gary Gensler, titled, “Everything Wrong with the BTC Narrative” ( forward to the 17:00 mark of the referenced podcast to hear my explanation for why BTC ETFs would cause BTC prices to crater, as has since happened). In that podcast, I mocked BTC analysts that called BITO “the greatest endorsement” of BTC by the US Securities Exchange Commission as an ignorant stance that displayed zero understanding of how markets actually work. I stated that BTC ETFs would lead to lower BTC prices before BTC prices plunged from last November.
In fact, all of the predictions I made in these two posts have since come true, and my analysis explained in these two aforementioned podcasts was the reason behind my sell call to my skwealthacademy Benefactor level members of BTC at $66k this past November. In fact, in another post I published on 8 November 2021 when BTC was currently selling at more than $66k I specifically stated that BTC prices were very high risk at that point and that while prices could surge a little higher, I expected a selloff to happen, and I was so confident of my prediction that I titled my post “I Told Everyone This Was Going to Happen (meaning a BTC price selloff), But No One Listened”. In other words, the BTC crash I predicted in that post had not yet happened, and even though I knew it was going to happen, I also predicted that no one (but my Benefactor level patreon members) would listen to me in the BTC community and sell at $66k as I warned should be done in that prediction. This was posted as a premium member only post when first published last November but is is now available to all free subscribers of my Rokfin platform, so if you wish to view it, it is now possible.
The biggest mistake investors make is to continuously dismiss analysis that does not fit their inflexible view of an investment.Tomorrow, I will post my opinion of some 2022 BTC price predictions made by “top BTC community analysts” on my Rokfin channel for those that are interested. Analysis is validated or invalidated by outcome, period. Of course, one can be lucky in calling one top, but on my skwealthacademy patreon platform, I called near perfect tops in BTC last March and November, and also called the bottom last July. So to continue to follow the analysis of those most “respected” BTC analysts whose outcomes are always wrong year after year after year is truly foolish. The irony of this statement is that I don’t even consider myself a BTC “expert”, but yet my calls for the past 14 months have performed infinitely better than all the self-proclaimed BTC “experts”, like Michael Saylor et al.
When I publish my opinion later today on my Rokfin platform of some 2022 BTC price predictions made by “top BTC analysts” and review their 2021 BTC price predictions versus mine, I will validate the above claim.
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