November 3: Bitcoin $7,000+
Due to the central banks of the U.S., Swtizerland and Japan buying/ supporting the stock levels of the
NYSE to unreal levels it is no surprise that distrust of markets and even the controlled price of gold has driven people to purchase of Bitcoin. CEO of JP Morgan bank expressed frustration at the Bitcoin validtion by millions of profiting investors including his own daughter who jolts him by saying she is smarter than himself. JP Morgan is remembered for paying billions in fines for fraud.
Simultaneously, the CNBC stocks channel reports that the VIX (stock trade volume index) is at the lowest level in twenty-five years. The current rise in price index at the NYSE should as we said earlier this year be at much higher levels 25,000? due to the actual level of inflation. False attempts at explaining that Millenials have "chosen" to rent rather than buy homes which in reality they cannot afford anyway.
Our previous prediction below was due to our advanced technology -- not algorithms:
"Subscribers may be shocked at this:
We are recommending a 10% of assets to be invested in Bitcoin this month. Since the U.S. dollar has lost seven per cent of its value this year we expect the Bitcoin to maintain its recognized value as a currency versus the failed U.S. economy's dollar currency.
Bitcoin has its internal episodes resulting in considerable volatility. We understand that Bitcoin was created in response to the 2008 financial crash of Lehman Brothers and other bank crises. James Dymon of JP Morgan bank admitted August 8 on the CNBC stocks channel the Lehman crash period was the most difficult warning he had to give to his employees. Due to "funny business" on the part of many banks??
Bitcoin commentators answer the question of not being backed by gold or other assets with the rejoinder that fractional banking allows banks to lend more than ten times their actual assets resulting in gambling on the part of banks wherein ARMs or Adjustable Rate Mortgages saw the promotion of minimum interest rates for the first two years on mortgages and virtually zero capital reductions. This resulted in millions losing their homes when interest rates tripled and house prices declined. A bank disaster now allowed once again.
Currencies are based on trust. As a service Bitcoin usage is a bargain as Chinese investors are able to export their national currency assets onto Bitcoin for foreign investment without government control or cost. Mexicans in the U.S. send cash to their Mexico-based relatives without payment to Western Union or banks. Freedom from government and bank controls adds to attractivenss of Bitcoin.
Are we concerned about Bitcoin validity? Since we only recommend 10% of asset investment we are cautious but we will not avoid the Bitcoin phenomenon. Actually, we do recommend personal associates to be ready to invest more than 10%. Vixpredictor.com has to be very conservative for our own credibility."
Our personal associates were told to anticipate the price of Bitcoin to rise as early as August 8 but anticipate especially the period of October 10, 2017. On November three it is now at $7,000+ U.S.
December will see a change in economic direction as the high-tech FAANG stock prices will settle down. Amazon stock will gain based on its foray into pharmacy stocks.
(FAANG:: Facebook, Apple, Amazon, Netflix, Google, Tesla, etc.)