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Dec. 21, 2024 - Health Ranger - Mike Adams
18:38
We are now in a CRYPTO BUBBLE... but it could go much HIGHER before it bursts
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I'm getting the vibe right now today about cryptocurrency here in 2024. The same vibe I got in 1998 and maybe 1999 about the dot-com bubble.
So it's becoming very clear to me right now that we are in the middle of a significant crypto bubble.
It will probably get even bigger.
And then there's going to be a catastrophic rug pull.
There will be a crash.
It will probably affect virtually all crypto when it happens.
But primarily Bitcoin is where this will originate.
So right now there's a massive Bitcoin pump that's taking place.
Trump is in on it or his people are advocating for Bitcoin.
A lot of Trump supporters are sort of hawking Bitcoin and so on.
My guess is they'll do a rug pull.
In the summer of 2026. Why?
Because that's right before the midterms.
And if they can tie the rug pull or the collapse of crypto to Trump, then they can, you know, the Democrats and the deep state can win back some seats they lost, and they can really put Trump in a bind where the people begin to hate him as they lose all their Bitcoin holdings.
At least this, I mean, this was my guess.
It's, I don't have crazy high confidence in Any time predictions of this.
This is just kind of a very rough estimate, so don't take it as investment advice.
But I'm throwing this out there as an example with the word of caution here.
If you're buying into crypto right now, you're buying at essentially the highest prices that we've ever seen in crypto.
It doesn't mean that crypto won't go higher.
Possibly it could.
It probably will.
I could see Bitcoin go to 200, 250, 300, maybe even more before the crash.
But one thing that I've learned about this after, of course, commenting on and observing and living through the dot-com crash and the subprime mortgage collapse of 2008 also, and I was I mean, I was young, but I remember Black Monday, 1987, when there was a massive market collapse.
I remember people talking about it, even though I didn't understand it at the time.
But what I've learned in all of this is that when everybody says, you know, mortgage the house, jump in, we're all going to get rich, okay?
Anytime that happens, you're buying into a bubble.
Tulip bulb mania, crypto bulb mania, whatever.
It's the same thing.
Nothing has changed, okay?
Bitcoin is not immune from bubbles and busts.
It's going to happen again.
It's happened many times already in the history of Bitcoin, and it's going to happen again.
But anytime the masses of people tend to become very, very optimistic That's a sign that things are getting out of control.
And one thing that I've noticed about crypto over the last, I don't know, six months or whatever it's been, is that the gains have been too easy.
It's been too easy.
Everything's going up.
The gains aren't really being earned in terms of, you know, crypto's not becoming suddenly more useful.
There are some innovations that are in the process of being rolled out, but nothing that I've seen widely deployed yet.
And even in our own case, we've been trying to deploy crypto for our e-commerce platform for several years, and it has been way more difficult than it should be.
To the point where we still don't have it incorporated, you see?
So I still don't see use cases in e-commerce that are really smooth and easy to implement.
Even though I would love to see that, we should be able to just check a checkbox or something when you're setting up an e-commerce website.
Wouldn't it be great?
Just check this checkbox and then you can accept crypto, you know?
That's the way it should be, but it's not.
It's nothing like that.
And so I have not seen the utility in transactions and commerce that I want to see or that would justify this rapid increase in valuations of cryptocurrencies.
So I believe that the rising prices that we have been witnessing lately, like Bitcoin going above $100,000, these are artificial pump prices.
These are manipulated.
They're not sustainable.
And the other thing that I've come to notice about crypto, and this is also true about Bernie Madoff's Ponzi scheme, or this was true about the subprime mortgage collapse, is that these kinds of, shall we say, pyramid scheme systems, they always depend on one thing to continue to exist.
What is that one thing?
Finding new people to buy in.
The same thing was true with China's real estate developer market fraud, which is collapsing.
They always needed new people to buy in because that's where the new cash came from.
And the way it collapsed is when new people stopped buying in.
So think about the dot-com boom, bubble.
It was great as long as new people kept buying in.
As long as you had another user base of people who could be convinced to buy DrCoop.com or whatever, then it could continue to perform in extraordinary ways.
It would always go a little bit higher.
The problem is, there's not an unlimited supply of new people to buy in.
And when new people stop buying in, then the bottom falls out of the market.
Crypto suffers from the same cycle.
Individual coins, for example.
When new people keep buying in, they pump.
They pump hard.
They go up and up and up.
I mean, look at FTX, classically.
But when new people stop buying in, and that coin has to try to maintain its price among a fixed ecosystem, or relatively fixed, Just the same people trading it with each other, the price can't be sustained any longer.
And then the price collapses down to its utility level.
See, this is important to understand.
Most cryptocurrency today is priced not at its utility level, but its hopium speculation level.
It's priced based on FOMO and the idea that the future price will be higher, so it doesn't matter what you pay for it today.
And that price is not realistic.
Again, it's not based on the utility of the coin.
It's based on some future expectation.
Well, that future expectation may be unrealistic.
Especially if there's something that changes in a regulatory way, some kind of scandal, some kind of hack, some kind of bug found in the code, like the inflation bug or what have you, then all of a sudden it can change dramatically, almost instantly.
But that can also happen on the positive side.
You know, a coin, it can be announced that, oh, we're going to be accepted into Cake Wallet, let's say.
Boom, it goes up.
Or we're going to be listed on Coinbase.
Oh man, it goes way up, right?
So positive news can affect it in a positive way.
Negative news can devastate it.
But notice that those things have nothing to do with the utility of the coin.
And the utility of it is what should matter the most.
How is this used?
What is its usefulness?
Those are the things that I'm most interested in as a merchant and as a customer.
I want to use crypto to make payments.
I want to use crypto to accept payments.
I want to use crypto to give gifts and donations and tips.
I want to be able to go to a farmer's market and buy something with privacy crypto so the government doesn't know that I might be drinking raw milk.
See, these are the use cases that really matter in my view.
And yet, how much of the crypto marketplace today is focused on that?
Almost none of it.
In almost every case, it's buy low, sell high.
Get in.
FOMO. Mortgage the house.
Sell your gold.
Buy into Bitcoin.
That is the kind of hype that turns me off.
I don't want crypto for FOMO. Really what I want, I've said this for years, I want a gold-backed stablecoin that I can use for e-commerce.
That's a privacy coin.
And as of right now, I'm only aware of two projects that are doing that.
One, I interviewed the guys, Lode, L-O-D-E. Actually, I don't think they have the privacy features that I want.
But I'd have to double check that.
But you can check them out, I think, at loadwallet.com.
I think it's.com.
Maybe it's.org.
Load Wallet.
You can search for that.
L-O-D-E. And then the other project is one that I just learned about from Aaron Day recently, who I interviewed.
And Aaron Day is launching something called Karma.
But he's got a weird spelling of it.
I think it's like K-A-U-R-M-A. Anyway, there's nothing really out there yet, but he says, he told me, it's going to be a gold-backed...
I mean, he said this in an interview.
This is public knowledge.
It's going to be a gold-backed token that is built on top of Zeno, which is intrinsically a privacy coin.
So it's going to be a completely private transaction system with a gold-backed token.
For merchants to be able to accept payment without the price risk volatility of Bitcoin or other coins.
To me, that's music to my ears.
That's exactly what I want.
As a merchant, I don't want to experience the price risk of Bitcoin.
I want something backed by something stable.
Frankly, I'd be happy with a token backed by oil, except that I don't want to exchange tokens for oil.
I would rather exchange tokens for gold because I don't know what to do with barrels of oil.
I do know what to do with ounces of gold.
So, gold backing is great, but I'm open to other ideas.
You could back it with food.
You know, I had this concept a couple years ago.
What about a token backed by inventory of food at the Health Ranger store?
But never could find the right platform for that.
You know, I'm going to watch Aaron Day here, and I'm going to see how he does with this thing.
If he does a good job with this, maybe I'll build something on top of Zeno.
Like, I don't know, a Health Ranger food token that can be exchanged for our food.
It can be used as currency in our store.
Maybe.
I don't know.
I'm just thinking out loud.
But I think the real use case here is for merchants to accept payment in a gold-backed crypto.
So...
Folks, just be cautious buying into anything.
Be cautious of big promises, big claims.
Oh, it's going to go to the moon!
Really?
Sometimes the astronauts burned up in the space capsule.
It didn't go to the moon.
It burned up.
So just be cautious.
Watch out.
There are a lot of signs, in my view, of bubble mania happening right now.
It could go on for quite some time.
There could be bigger, bubblicious behavior for quite some time.
Maybe a couple years.
But eventually, in my experience, This ends in a rug pull, man.
And don't get hurt when that happens, is all I'm saying.
All right, if you want to hear my interviews on this topic and many others, check out brighttown.com.
My channel there is HR Report, of course.
You can also read my articles at naturalnews.com.
Or follow me on X at HealthRanger.
I'm also HealthRanger at brighttown.social, brighttown.io.
And then on Telegram, I'm RealHealthRanger.com.
Yeah, the real one.
And don't be tricked by fake Health Ranger accounts on Telegram.
I'm not going to reach out to you and tell you to buy a coin.
That's the biggest scam on Telegram is people create fake accounts of influencers or celebrities and then they reach out to you with a direct message like, hey man, This is me.
Don't you want to buy this coin?
And some people get tricked by that, so don't get tricked.
I'm never going to DM you on Telegram and ask you to buy something or send me money.
You can count on it.
Okay.
Thank you for listening.
Mike Adams here.
Be safe, everybody.
Gonna be some crazy times here.
Be safe.
And consider gold.
You know, look, I guess I should tell you about some gold solutions.
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And understand that gold and silver are forever.
They're elements.
They're going to be around long after you and I are gone.
So I don't know what's going to happen to Bitcoin.
I do know gold is going to be here.
Here's the way I say it.
I say Bitcoin will outlast the dollar, but gold will outlast Bitcoin.
So that's my little hierarchy right there.
Yeah, Bitcoin will outlast the dollar.
No doubt.
But gold will outlast them all.
So plan accordingly.
Thank you for listening.
Take care.
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