{"id":23692,"date":"2021-01-15T22:01:03","date_gmt":"2021-01-15T22:01:03","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=23692"},"modified":"2021-01-15T22:01:03","modified_gmt":"2021-01-15T22:01:03","slug":"luke-gromen-bitcoin-alarm","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2021\/01\/15\/luke-gromen-bitcoin-alarm\/","title":{"rendered":"Luke Gromen: Bitcoin alarm"},"content":{"rendered":"

“We do not think BTC is a bubble; we think BTC is the last remaining functioning fire alarm that has not been disabled by policymakers, and it is issuing an increasingly shrill alarm about the USD and fiat currencies more broadly. We have little doubt that policymakers will attempt to disable BTC as a functioning fire alarm as well, but its traits make that far more difficult to do to BTC than they have thus far done with gold.”<\/p><\/blockquote>\n

~ Luke Gromen, Treerings.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“We do not think BTC is a bubble; we think BTC is the last remaining functioning fire alarm that has not been disabled by policymakers, and it is issuing an increasingly shrill alarm about the USD and fiat currencies more broadly. We have little doubt that policymakers will attempt to disable BTC as a functioning … <\/p>\n

Continue reading “Luke Gromen: Bitcoin alarm”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"quote","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,13],"tags":[4585],"class_list":["post-23692","post","type-post","status-publish","format-quote","hentry","category-the-fed-banks-interest-rates","category-inflation-economy","tag-bitcoin","post_format-post-format-quote"],"yoast_head":"\nLuke Gromen: Bitcoin alarm - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luke Gromen: Bitcoin alarm - the patient investor\" \/>\n<meta property=\"og:description\" content=\"“We do not think BTC is a bubble; we think BTC is the last remaining functioning fire alarm that has not been disabled by policymakers, and it is issuing an increasingly shrill alarm about the USD and fiat currencies more broadly. 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Consolidation in a narrow band is a bullish continuation pattern; breakout above $31K would signal a fresh advance. Respect of $30K would flag that financial conditions are easing. The Chicago Fed Financial Conditions Index declined to -0.33 on July 7,\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Bitcoin (BTC)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-13-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-13-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-13-btc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":30398,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/01\/14\/bitcoin-btc-the-last-canary\/","url_meta":{"origin":23692,"position":1},"title":"Bitcoin (BTC): The last canary","author":"Colin Twiggs","date":"January 14, 2022","format":false,"excerpt":"Ark Innovation Fund (ARKK) has plunged to 80, losing a third of its value in the last two months. The long-term Trend Index peak below zero warns of strong selling pressure. As we said last week: \"the canary in the coal mine has well and truly croaked.\" The last remaining\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Ark Innovation Fund (ARKK)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-14-arkk.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-14-arkk.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-14-arkk.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-14-arkk.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":63599,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/11\/can-the-dow-hold-above-50000\/","url_meta":{"origin":23692,"position":2},"title":"Can the Dow Hold Above 50,000?","author":"Colin Twiggs","date":"February 11, 2026","format":false,"excerpt":"Key Points The Dow Jones Industrial Average reached a new high above 50,000, but the Roundhill Magnificent 7 ETF (MAGS) is testing primary support. Bitcoin plunged to below 70,000, warning that markets are shedding risk. Gold recovered above $5,000 per ounce amid growing investor demand for a safe haven. The\u2026","rel":"","context":"In "Cryptocurrency"","block_context":{"text":"Cryptocurrency","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/cryptocurrency\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-10-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-10-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-10-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":34404,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/06\/13\/bitcoin-breaks-30k\/","url_meta":{"origin":23692,"position":3},"title":"Bitcoin breaks 30K","author":"Colin Twiggs","date":"June 13, 2022","format":false,"excerpt":"Bitcoin (BTC) broke primary support at 30K, providing further confirmation of a bear market. The primary down-trend in Bitcoin signals that financial markets have reversed to risk-off. The target for the decline is 15K. The calculation is based on price doubling from 30K to 60K (in 2021). Now that BTC\u2026","rel":"","context":"In "Cryptocurrency"","block_context":{"text":"Cryptocurrency","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/cryptocurrency\/"},"img":{"alt_text":"Bitcoin","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-13-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-13-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-13-btc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":51904,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/04\/27\/sharp-fall-in-the-yen-threatens-us-financial-markets\/","url_meta":{"origin":23692,"position":4},"title":"Sharp fall in the Yen threatens US financial markets","author":"Colin Twiggs","date":"April 27, 2024","format":false,"excerpt":"The Bank of Japan is allowing the Yen to weaken, with the USDJPY exchange rate rising to a record 158. A weak Yen can cause chaos in US Treasury Markets, with Japan the largest foreign investor in US Treasuries. The BOJ is likely to either (1) sell forex reserves (mainly\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"USDJPY","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-26-jpy.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-26-jpy.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-26-jpy.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":38950,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/11\/22\/bitcoin-plunges\/","url_meta":{"origin":23692,"position":5},"title":"Bitcoin plunges","author":"Colin Twiggs","date":"November 22, 2022","format":false,"excerpt":"In 1856, Walter Bagehot -- author of Lombard Street, a treatise on the British banking system -- observed: Whenever money becomes very cheap, experience teaches us to expect that it will be misspent. John Bull, as it has been wisely observed, can stand a good deal, but he cannot stand\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/23692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=23692"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/23692\/revisions"}],"predecessor-version":[{"id":23693,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/23692\/revisions\/23693"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=23692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=23692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=23692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}