Today we discuss Bitcoin in June

TradingShot Chart via Trading View

Chart by Glassnode

May Market Sell Off…On 19 May 2021, Bitcoin market experienced one of the most significant liquidity events and price draw-downs since Black Thursday in March 2020. The worst of the sell-off on 19 May printed the largest daily candle in Bitcoin history with an intra-day price range of $11,506.

Inflation Is a Dangerous Way to Get Rid of Debt Burdens…Joe Biden’s fiscal plan calls for increasing those taxes on “the rich” and on corporate America to the tune of $3.6 trillion over the coming years. But as an article in The Washington Post (May 28, 2021) pointed out, even if all of Biden’s tax increase proposals were to successfully pass through Congress, their effect in raising federal government revenues would not be fully felt for years ahead.

So, the Biden budget proposal assumes a deficit of $1.8 trillion in fiscal year 2022, based on $6 trillion of government spending (or almost one-third of total planned federal expenditures); and there will be budget deficits for many years after that of at least $1.3 trillion per year. Given the current national debt of over $28.3 trillion, if this were to be the pattern of government spending and borrowing over, say, the next ten years, then, in 2031, the accumulated national debt would reach more than $42 trillion.

Keep in mind…

Rumors of Apple entering Bitcoin & Crypto…more industry news that is circulating around a new position. “The Apple Wallets, Payments, and Commerce (WPC) team is seeking an experienced Business Development Manager to lead Alternative Payments Partnerships.”

We have 2021 Bitcoin Conference this month…more bullish news in the Bitcoin space and exciting new companies making their debut. Layer 2 is finally here and its growing at a faster speed.

Research and analysis of the Bitcoin market tells me…

Bitcoin is in for another red month. 3 🔴 Red months in a row which makes July a crucial month to get Bitcoin to bounce back in the green.

Thriller Premium is covering Consensus 2021 for the third year, because Consensus is the singular global conference that brings together entrepreneurs, traders, developers, academics, students and the curious under one roof to explore developments in crypto, collaborate around blockchain initiatives and debate the future of finance.

As CoinDesk’s largest event of the year, this four-day experience will bring together more than 10,000 attendees across a variety of educational panels, workshops, keynotes, fire-side chats, networking experiences and more for an up-close look at the good, the bad, the ups, the downs, the excesses and the optimism of crypto. Featuring the most sought after industry leaders, innovators and analysts, the speaker lineup features enterprise blockchain, crypto startups, policymakers and cross-industry pioneers. Discussing various topics that support the Consensus agenda.

Presented by CoinDesk, a media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system. Its mandate is to inform, educate, and connect the global investment community through news, data, events and education.

We are thrilled to cover 4 days of this conference and bring you all the latest highlights.

Highlights

Regulation, Banks, Visa, Bitcoin ETF

Brian Brooks, Caitlin Long

Bitcoin, SPACS, Future of Media

Lyn Alden, Tyler Neville

DEFI vs LIGHTNING

Jack Maller and DeFi Bros

Thriller Premium is covering Consensus 2021 for the third year, because Consensus is the singular global conference that brings together entrepreneurs, traders, developers, academics, students and the curious under one roof to explore developments in crypto, collaborate around blockchain initiatives and debate the future of finance.

As CoinDesk’s largest event of the year, this four-day experience will bring together more than 10,000 attendees across a variety of educational panels, workshops, keynotes, fire-side chats, networking experiences and more for an up-close look at the good, the bad, the ups, the downs, the excesses and the optimism of crypto. Featuring the most sought after industry leaders, innovators and analysts, the speaker lineup features enterprise blockchain, crypto startups, policymakers and cross-industry pioneers. Discussing various topics that support the Consensus agenda.

Presented by CoinDesk, a media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system. Its mandate is to inform, educate, and connect the global investment community through news, data, events and education.

We are thrilled to cover 4 days of this conference and bring you all the latest highlights.

Highlights

China’s (Blockchain) Superpower Ambitions

Bitcoin Mining in China

2021’s Bull Run from the Front Lines with Michael Saylor & Michael Sonnenhein

Bitcoin Mining and ESG

Thriller Premium is covering Consensus 2021 for the third year, because Consensus is the singular global conference that brings together entrepreneurs, traders, developers, academics, students and the curious under one roof to explore developments in crypto, collaborate around blockchain initiatives and debate the future of finance.

As CoinDesk’s largest event of the year, this four-day experience will bring together more than 10,000 attendees across a variety of educational panels, workshops, keynotes, fire-side chats, networking experiences and more for an up-close look at the good, the bad, the ups, the downs, the excesses and the optimism of crypto. Featuring the most sought after industry leaders, innovators and analysts, the speaker lineup features enterprise blockchain, crypto startups, policymakers and cross-industry pioneers. Discussing various topics that support the Consensus agenda.

Presented by CoinDesk, a media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system. Its mandate is to inform, educate, and connect the global investment community through news, data, events and education.

We are thrilled to cover 4 days of this conference and bring you all the latest highlights.

Highlights

A SPECIAL ADDRESS: Dr. Lael Brainard Member of the Federal Reserve Board of Governors

FIRST PRINCIPLES: Ray Dalio on Money, Monetary Policy & Bitcoin

Press Release she was reading.

The Institutional Bitcoin Sell Off

This sell-off is historic in magnitude of losses realized by short term holders. STH-SOPR has only dipped this low on three occasions since 2015:

Feb 2018 start of bear market

Nov 2018 bear capitulation

Mar 2020 COVID sell-off

Bitcoin 1st $10K move on a single day!

HODL it’s that simple

Bitcoin Never Dies!

Repo and Reverse Repo Operations

The Impending Dollar Inflation

news coming from Stan Druckenmiller via Student Investment Fund Annual Meeting Keynote & also Steve Hanke via OMFIF

Money supply growth is feeding into economy and Powell’s position is wrong. Wednesday’s headline inflation figure of 4.2% shocked many. The average real GDP growth from 2010 to 2020 was 1.8% per year, the average growth in total money supply (M4) was 6.5% and the average change in the velocity of money was minus 2.5%. Using these values and the Fed’s inflation target, the golden growth rate for M4 is 6.3%.

The average growth rate of M4, which has been 6.5%, slightly overruns the golden growth rate of 6.3%. This has resulted in realized inflation of 1.7%, slightly below target. That the realized inflation rate is, however, a bit below the Fed’s target is not surprising when you recognize that prior to the explosion in the money supply in 2020, the average rate of growth of broad money was very modest from 2010-19. It averaged only 4%, rather than the 2010–20 average of 6.5%.

In response to the Covid-19 pandemic, the growth rate of M4 skyrocketed. By the end of 2020, it was growing at 28.9%, the highest year‐​end rate since 1943. Today, it is still surging at 24%. That dramatically exceeds the golden growth rate, a growth rate that would be consistent with the Fed’s inflation target.

Armed with those numbers and the monetarist model for national income determination, it is obvious that April’s year‐​over‐​year consumer price index inflation rate of 4.2% is simply a harbinger of more to come.

Bitcoin: A Repeat of 2013 REDUX

Bitcoin Charts by TradingShot via TradingView

Pull Back is Imminent in this Bull Run

2012 into 2013 - The Original Double Top

2020 into 2021 - Will it happen again?

More than 110k Bitcoin have been transferred between wallet in only 17 transactions in the last hour.

$Tesla Falls as Musk Continues his Fud Campaign

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Thriller Premium is covering Ethereal Summit for the third year, because Ethereal is a collaboration of technologists, artists, startups, entrepreneurs, and investors engaging directly with the latest developments in Ethereum, blockchain, and decentralization. The conference speaks to a broad community of people who believe that the world can be organized differently.

Organized in a decentralized, more efficient, and democratizing way. Belief this world can be built on a fundamentally new technology - blockchain - which by its nature is a fluid, open, networked innovation. Featuring speakers from the Ethereum Industry, the conference will engage audiences at all levels –…

Thriller Premium is covering Ethereal Summit for the third year, because Ethereal is a collaboration of technologists, artists, startups, entrepreneurs, and investors engaging directly with the latest developments in Ethereum, blockchain, and decentralization. The conference speaks to a broad community of people who believe that the world can be organized differently.

Organized in a decentralized, more efficient, and democratizing way. Belief this world can be built on a fundamentally new technology - blockchain - which by its nature is a fluid, open, networked innovation. Featuring speakers from the Ethereum Industry, the conference will engage audiences at all levels –…

Federal Reserve Leans In….

news coming from Bloomberg

The Fed faces criticism as it wades into climate and equity issues that now concerns them all of a sudden?

Fed weighs handing fintechs more access to its payments system? But what happens to U.S. National banks?

Meanwhile the NYDIG making it really easy to now start allowing allocation into Bitcoin from U.S. National banks.

👀 A Bullish Sign from 2017 ?!?

Bitcoin Charts by TradingShot via TradingView

Could we see a Bitcoin Casino by the end of the year?