With all the HUGE pro-bitcoin news, how is it still around $90,000

With all the positive huge news for Bitcoin in just the last couple weeks, how on earth is the price still only $92,500? Well, there's a bunch of reasons. One, when in times of economic distress, people sell what they can, not what they want to. So, right now, you know, we have people borrowing against their 401ks to make just to pay their bills. There's people that are, I mean, doing payday loans to pay for Christmas. You know, there's just a huge number of data points, distressed mortgages, uh, commercial real estate that's behind on payments. There's a huge amount of distress in the economy right now, and that creates forced selling. Anybody that's trying to save a business for from bankruptcy or personal finances from bankruptcy or trying to keep their house from getting foreclosed on or their car from being uh, repossessed, if they have some Bitcoin, they may not want to sell it. But if it means they don't their car is not going to get repossessed, they do what they have to do. So certainly there's some distress selling holding the price of Bitcoin right now down, but also there's some bigger massive macro trends, meaning big picture trends that are working against the price of Bitcoin right now, but those are all temporary. The biggest one right now, which Jack Morers talked about on his podcast on Monday night, was the unwind of the yen carry trade. So right now Japan's economy is having a lot of problems because they are heavily heavily indebted. In fact I believe Japan is the most indebted nation in the world right now at least as far as major economies significantly more so as a percentage of the size of their economy than the United States. So Japan has tried to deal with having massive amounts of debt by holding their interest rates super low. The problem is you can only hold your interest rates super low if people will actually lend you money at low interest rates. Otherwise, the government has to print money out of thin air to buy their own bonds. So basically, they're lending money to themselves by buying their own debt with printed money out of thin air, which is, you know, as the saying goes, it's like a a snake trying to get uh full by eating its own tail, right? I mean, it's just it's not a sustainable um it's not a sustainable economic system to for a a snake to eat its own tail. Well, that's what's going on in Japan right now where uh the interest rates are rising. They're trying to push them back down. The rising interest rates is causing the unwind of the yen carry trade. So, what is a carry trade? A carry trade is when you borrow cheap money at low interest rates in one country and invest it in high interest rates in another country. So, for example, you've been able to do this thing for the last couple years where you borrow money for like 1% in Japan, convert it to US dollars, and then invest it in US government bonds and get 4%. So, basically, it's 3% free money because you're borrowing at 1% and you're getting 4% and when you're done paying back the 1%, you get to keep 3% that's left over. So, you can do carry trades in a lot of things, but carry trades only work if the currency you're borrowing in keeps interest rates cheap. The problem is, no matter how hard the Bank of Japan has tried, they have not been able to keep their interest rates down because they are so indebted that people are refusing to loan the money. And when they refuse to loan the money, they have to offer higher and higher interest rates to get people to give the government money to let them borrow. So there's a lot of macro big picture worldwide economic upheaval and again it results in the force selling of people selling what they have to not what they want to because if you have gotten yourself deep underwater on the yen carry trade which the yen is the Japanese currency if for people who have been doing this and the yen carry trade starts to unwind because you know the United States government is only offering three and a half% interest and you can borrow only at 2% % in Japan. Then suddenly with all the fees and stuff like that when you were making 3% and now you're only making one and suddenly the economics don't work anymore because the fees are eating all of the profits. You have to unwind all of that stuff which means sell everything you had bought with those US dollars, convert them back into yen and pay back all your loans again. If one of the things you bought was some Bitcoin, you end up being a forced seller. So the price will rise again as always when the idiocy is worked out of the economy, when dumb decisions are closed out and when people in the unfortunate position of being forced sellers are no longer selling. Uh then the fact that we have all this incredible economic news uh or I shouldn't say economic news, it's just uh positive developments related to Bitcoin that will then be reflected in the price. I consider to Bitcoin to be seriously on sale right now, especially given the massive amounts of positive uh news related to Bitcoin over the last couple weeks. Uh if you want just a few tidbits of that, watch the video I did immediately before this one, which highlights some of the latest news items related to Bitcoin. But massive, massive, massive news that in any other economic environment would result in the price of Bitcoin going way up. But again, too much force selling, too many global economic worries, too many companies that are just too concerned about the economy to feel comfortable holding Bitcoin on their balance sheet right now due to global uncertainties and, you know, having to meet payroll and all that sort of stuff. And uh again, eventually the demand will outstrip the supply. All of the indications from all of the positive news stories are that there's massive amounts of additional demand on the way from Vanguard, from Bank of America, from Meil Lynch, uh from Charles Schwab, uh from the Texas Strategic Bitcoin Reserve and all these other entities that are either buying Bitcoin or that are giving the green light to their customers or financial adviserss to buy Bitcoin whereas previously they did not allow them to do that. So all of that new demand that is coming online plus of all of the existing demand will eventually outstrip the supply of people willing to sell at 92,500 and the price will go up. Could it go down before it goes up? Of course, but eventually the demand always outstrips the supply and the price always eventually goes up. So great time to buy Bitcoin. My advice is the same as always. Buy as much Bitcoin as you can. Hold on to it for as long as conceivably possible. That is the strategy that always wins.