Patton Capital Management

Bitcoin's slow motion collapse coming to a conclusion within next 60 days $42k target

ARK ALERT - Some Facebook members may have noticed ads for the Cathie Wood company, how she's made millions handles billions through her managed ETF'S. It's all true. However performance since inception does not stress how badly the funds performed in the bear market of 2022. Accompanying chart demonstrates flagship ETF, symbol ARKK has fallen by 75% since the top, trapping many 'follow the leaders' investors in the downward spiral.
The cultist following stems from the performance of one stock Tesla whose meteoric performance is unrepeatable. Tesla is no longer the fund groups largest holding although still sizeable. Both securities share the same chart pattern, that of a busted bubble.
ROKU currently the largest holding is not likely to perform nearly as well. ARK's best chance to return to the median range (up 100% from here) is if Bitcoin actually lives up to promise, her large position in Coinbase (COIN) would serve the portfolio well in that instance. As for Bitcoin, it too has the dubious pattern of a bubble busted. Now although we recommended Bitcoin @$1,500 in May 2017, on Manhattan radio, we have invested and taken profits several times and in no way consider it a sure thing, going ever higher.
On these Facebook ads in the comments one person asked the quintessential question, 'If you're such a fantastic investor why are you reaching into the individual investor market?', in essence soliciting the little guy. It is a good question.

CHINA's economy approaching entropy. In econo-politics, the phrase is used to describe a large scale collapse. In practice a Command economy or Socialism has much in common with other authoritan regimes such as the Divine Right of Kings. Any system with a titular head directing all economic activity is doomed to failure. It is the very will of the Collective (to use that iconic Communist catchphrase) that in the end utilizes Adam Smiths "blind hand" to spur Innovation and creativity. It is the same sclerotic thinking exhibited by Chairman Xi today that doomed the Soviet Union to also-ran status and ultimate dissolution decades ago.
That is why money is fleeing China any way possible, why the Blockchain is at capacity with money transferences. Real estate crisis, youth unemployment at 25%, prices falling into deflationary spiral, economists predicting a more dour outcome than Japan's lost decade of the 1990's when real estate and stock bubbles burst simultaneously, from which they have never fully recovered. These are the reasons we say that Hong Kong stocks, despite dropping 50% since 2020, could fall another 50% in the coming year as centralized government is unequipped to handle crises before them. Lashing out at neighbors as autocrats tend to, deflecting blame and uniting sizeable portion of populace with patriotism their preferred recourse.