I believe we should all give TPTB some heat regarding his prediciton of double digits BTC in 2016.
I have also stated that I thought that when gold crashes below $1000 (and likely below $850) this year, then Bitcoin would also likely get caught up in the contagion and sell off to below $150 perhaps back to double-digits.
This is laughable.
I have said the bottom may not be in yet for gold and Bitcoin.
The timing was originally 2016, but what has changed is that the US Fed decided to delay raising interest rates to try to help Europe. And then the elite hatched this plan to have a BREXIT vote so as to reaffirm the U.K.'s commitment to the EU. This BREXIT victory for the EU, coupled with the delay in raising interest rates, is causing the confidence to swing temporarily back to the Euro (away from the dollar) and is giving a deadcat bounce to speculation markets (which require general liquidity because they are all about harvesting the funds of stoopid greater fool n00bs).
But this delay is causing pension plans to go bankrupt and is causing all the excesses of debt to move well above nosebleed levels:
China's economy will have a reset in 2020
How'd you come up with that year?
I have a triangulation of three sources:
1. Martin Armstrong's computer and database.
2. Michael Pettis's (China expert, widely respected) calculations (and he has been correct several times already).
3. The charts showing China is nearing the Minsky Moment:
The new username is temporarily forced by a 10 day ban.
So what we have is a massive Minsky Moment being tightly wound like a spring fully compressed that is going to explode once the Euro peaks (perhaps as high as 1.24). We are waiting for the BREXIT to drive this counter-trend, deadcat rally to its extreme.
Then upon the election of Trump in November, coinciding with that global liquidity contagion Minsky Moment as interest rates start to move and the dollar starts gaining again, then roughly Q1 2017 (but anytime after BREXIT peak is still possible in later 2016), we are going to see a massive liquidity crunch where everyone will pile on short and overshoot to the bottom on every asset except US dollars. Trump will drive a desire to hold dollars as he will threaten trade and currency wars against China.
Trump will win because he will move more to the center of right after he secures the Republican nomination. He will become nicer and people will see him in a more positive light. And he will destroy Hellary's reputation with his skilled way of attacking. He had to appeal to the hard right in order to stop the entrenched power players in the Republican party from stealing the nomination from him. He might even appoint Bernie Sanders as Vice President.
Thus the selloff of gold and Bitcoin as well (and altcoins to near 0), but this will be very brief V bottom just like in 2008/2009, then the world's capital will stampede into the dollar, dollar denominated assets such as US stock markets and trophy real estate, and also gold and CC will swing back to bullish mode with the final bottom finally reached.
The latest essay from Armstrong is very important:
https://www.armstrongeconomics.com/markets-by-sector/stock-indicies/sp-500/trading-volumes-declines-as-hoarding-rises-due-to-uncertainty/Edit note Trump is very pro-NSA and even supports laws breaking encryption. He appointed Doug Christie who is very totalitarian about NSA (go back and listen to the early Republican debates). I could see Trump potentially becoming very anti-Bitcoin especially with the mining centralization in China. However if Bitcoin is really the House of Morgan's baby, then Trump will be obliged to not attack Bitcoin.
