Back to the futures

Traders shrugged away any worries over the pandemic and its curve that in America any way never flattened but just keeps climbing. Meanwhile in the futures markets, all assets tech heavy and intrinsically “futuristic” such as Tesla and crypto futures are in demand as they are out performing the equities of which the tech heavy Nasdaq Composite is posting the greatest gains up .75%, followed by the S&P with daily gains of a half percent.

But as of 12:45 PM Eastern Time Bitcoin futures has shown a bounce off the 50-day M.A. and is back above support at $9,250. Tesla is also on an even wilder upswing that over the last three days has increase the cost of a share by $200, and is maybe showing a resting or weakening of trend none the less is up over 3.5% today currently at $11, 21.41 a share.

It looks like BTC its back against the wall (or the 50day M.A.) is choosing to slug it out and wants a re-match for the worldwide web’s undisputed bullish block chain champion of the year. Bitcoin is now in a sudden death and must take out the feared current king of the ring $10k. If BTC can win this death match then $13,000 is on the horizon by the end of the third quarter. 

But let’s get back to the future, Bitcoin futures. Because Bitcoin is going to be a big part of the future undoubtable is this fact, it may be so pivotal that it changes the way trade and commerce interacts with on a micro and macro scale and lift the very face of society or at least be a gateway drug that helps governments cook up some compound of similar structure in their labs, it may just be the tulip that makes tulips look like an good investment. 

Back to the bulbs

For the rest of the week I want to compare bitcoins parabolic rise to that of the tulip bubble in the very first stock, commodity, currency or any other type of speculative investment/wagering hub in the world. I am speaking pre NYSE, but the post Japanese rice futures exchanges. The difference between the Dutch and the preceding Japanese rice traders is the 1700’s Dutch stock exchange would be recognizable to a modern trader because most of what makes a modern exchange was first introduced to the western world and had aspects that eastern traders were far from adopting.  

Tomorrow we will continue with this fascinating correlation from beyond the twilight zone but we will leave you with this last thought; the Netherlands to this very day are by far the largest producers of flowers especially, you guessed it tulips. In 2018 an average year, the Netherlands exported over €215,000,000 (approx. $250,000,000 USD) not in flowers, but just tulips alone, Never fail to see a bubble for what it’s worth or what it says about the future of an idea, commodity or asset.