Bitcoin Is Not Taking Any Market Share From Gold

Bitcoin is not taking any market share away from gold. 

That hype is just part of the pump so the whales can dump. 

The only markets where Bitcoin is taking share are for lottery tickets, sports betting, casino gaming, penny-stocks, and some overpriced large cap momentum stocks.

Bitcoin: When The Speculative Fever Dies Down

Since PayPal customers buying Bitcoin in anticipation of using it to fund future purchases must sell Bitcoin to buy an actual currency to transact with merchants, today's buyers are tomorrows sellers. If speculative fever dies down, who will take the other side of those trades?

PayPal's foray into Bitcoin is a gimmick designed to provide a short-term boost to Bitcoin's price. If PayPal really wanted to offer its customers an alternative and reliable long-term store of value, it could have allowed them to buy gold and store it to fund future purchases.

A Biden Victory Is Not Good For The Stock Market

🗣  "(...) a Biden victory is not good for the stock market. It means much higher taxes and that is not going to be offset by the Federal Reserve.”

The U.S. stock market just had its worst week since March. In fact, if you look at just the second half of October, this is the biggest decline we've seen in the second half of October since 1987 and that was the year of the October 87 stock market crash!