billyjoeallen
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billyjoeallen
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October 29, 2014, 11:40:48 PM

The U.S. dollar strengthened today against all other major currencies because the Fed announced the end of its POMO bond buying program. This of course means that bitcoin along with all major commodities and most equities is going to go down in dollar terms.

What savvy Fed watchers understand is that those idiots only do something right by accident and as soon as the markets go down far enough, they ramp up the printing presses. There is not one credible inflation hawk on the board and so this is what we call a "buying opportunity".

I'm actually hoping for another test of $300 on high volume because that would make a good double bottom and a beginning to what I am fairly certain will be called by historians the Great Bitcoin Bull Market of 2015.

This is the hardest part of a really terrible bear market and nobody really knows how much longer it will last, but when the worm turns, the few who had the courage and brains to ride it out will have one hell of a story to tell.