NIA reverses Bitcoin position from short to long

After forecasting a crash in Bitcoin prices last Thursday, the National Inflation Association (NIA) has now reversed their forecast, closed their short position, and opened a long position.

They still believe Bitcoin prices will eventually collapse, but that will come later rather than sooner. They attributed the change in their forecast to news of printing $25 million in new Tether (USDT) tokens.

On Thursday afternoon, NIA announced that it had shorted a large amount of Bitcoin at $5,950, prior to Thursday evening’s Amazon earnings conference call. NIA predicted that rumors of Amazon announcing that it will begin to accept Bitcoin as payment, would prove the be false – causing Bitcoin to decline in price immediately afterwards. NIA was right about the rumor being nonsense and that Bitcoin would sell off afterwards.

Amazon didn’t mention Bitcoin at all during its conference call and Bitcoin immediately declined by $100 to $5,850. In recent days, Bitcoin declined an additional $150 to a price of $5,700. NIA covered its entire Bitcoin short position today at $5,750 after discovering the printing of $25 million in new Tether (USDT) tokens.

Tether is a Crypto version of the U.S. Dollar that is supposed to be backed by real U.S. dollars, but in reality NIA has inside knowledge that it is a complete fraud with no U.S. Dollar backing. It is the printing of fake Tether tokens that has fueled Bitcoin’s entire 2017 rise in price. With today’s latest printing of $25 million in new USDT tokens, NIA decided that it was too risky to remain short on Bitcoin at this time. Every time that USDT gets printed, we know that Bitcoin will rally afterwards – as these counterfeit Crypto U.S. dollars get lended out on margin to be used for wash trade manipulation.

Tether was created by a Cryptocurrency exchange that became insolvent, blaming it on a hacking theft of Bitcoin worth about as much as the inflation adjusted value of the largest bank robbery in U.S. history (in Crypto land nobody ever admits to insolvency due to incompetence or criminality). Afterwards, this Bitcoin exchange was kicked out of the global banking system, and began printing hundreds of millions of USDT to repay its creditors – without possibly having access to the actual USD needed to back them.

Eventually when investors realize there are no U.S dollars backing these tokens – it will cause the price of Bitcoin to collapse. NIA is currently producing a documentary about this upcoming time bomb.

Besides covering its Bitcoin short, NIA has taken a long position in Bitcoin Cash at $450. We expect the Bitcoin Cash/Bitcoin price ratio to rise back to 0.10 in the upcoming weeks leading up to the B2X hard fork.

For those of us waiting for the drop in prices, we might have to wait a little while longer.

James Bailey

Author: James Bailey

James Bailey is an author, business owner, husband and father of two children. His vision is to broadcast the good news of Jesus Christ through blog sites and other media outlets.

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Phillip
Phillip
Member
October 30, 2017 10:07 AM

Tether in circulation has nothing to do with the price of Bitcoin. Tether does not need to be purchased to buy cryptos. Cryptos is purchased in USD, Euro, Yen, Yuan, Rubles, etc and then traded. NIA is not a good source

MOSES
MOSES
Member
October 31, 2017 12:09 AM

In a previous post I had said that tether USD was a good way to get out of bitcoin while you wait to get back into BTC. I am now reversing my position and am recommending vaultoro.com as a way to get out of bitcoin temporarily and into gold while you wait for a more favorable price to rebuy bitcoin at. Here is an article about Vaultoro. I now have an account there and bought gold using BTC.
http://www.nasdaq.com/article/vaultoro-continues-on-its-vc-funding-road-to-future-growth-with-finlab-ag-cm849638

Phanuel
Phanuel
Member
October 30, 2017 12:46 PM

NIA seems clueless Phillip
It seems like the don’t understand cryptos

Richard
Richard
Member
October 30, 2017 7:20 PM

I will say that if you look at the track record of NIA, it is exceptionally good, but the vast majority of their predictions are in equities. Also, I’ve never seen them reverse so quickly on one of their calls as with this one which indicates their uncertainty.
Ultimately, if it comes down to a decision between NIA or Phanuel, I’m going with Phanuel.

Richard
Richard
Member
October 30, 2017 7:48 PM

A prime example of NIAs track record is their recent call on GoldMoney (XAUMF) which went up 13% today. Goldmoney appears to be a great place have physical allocated gold and silver stored oversees in areas such as Dubai, Singapore, etc… You an convert cash or bitcoin to Gold/Silver online. I’m in this equity and it is doing great. But again, this was an equity call of theirs not a crypto.

MOSES
MOSES
Member
October 31, 2017 12:17 AM

Could it be that NIA has such a great track record because they have a huge mailing list and they recommend penny stocks which drives up the price of these stocks many fold? Could the Gold Money stock also have benefited from their huge mailing list getting into it? I am asking questions and not issuing facts. So I will leave it up to everyone to decide. Thanks.

Thank you Richard for your solid contributions to this blog.

MOSES – from a basket case in the Nile to a Wealth Transfer Artist on the way to the Promised Land. LOL….

Richard
Richard
Member
October 31, 2017 12:40 AM

It’s certainly possibly.

Phanuel
Phanuel
Member
October 30, 2017 12:47 PM

*seems like they

Phillip
Phillip
Member
October 30, 2017 2:02 PM

Its is the old saying “take it with a grain of salt”

Phanuel
Phanuel
Member
October 30, 2017 4:28 PM

I shouldn’t have called them Clueless… I repent for that … the way you phrased it is much better.

Thanks Phillip

Rob
Rob
Member
November 8, 2017 10:38 PM

Phanuel do you have a current price top for bitcoin? I have a sense of 8200 but I’m looking for confirmation.

Phanuel
Phanuel
Member
November 8, 2017 11:48 PM

Hi Rob
I think we topped at $7900 and dropped 800 points after the fork was postponed. It’s possible we still go a little higher. I use the numbers I see to track the Elliott waves. No dates were shown except 3084.99. But the numbers represent the end of certain waves. For instance 6143 was the top of Wave 3 of the Larger Wave 5 ( multiple year). I think we are currently completing or have completed Wave 5 of 5. Then a large ABC correction.

Shalom

Rob
Rob
Member
November 9, 2017 8:38 AM

Thanks Phanuel. The fork cancellation was unexpected and can be good or bad depending on many things… Personally I believe it’s initially good but long term bad news. Never a dull moment.

Phanuel
Phanuel
Member
November 5, 2017 10:50 PM

Recently saw Btc at 6134 and 5720

Lance
Lance
Member
November 6, 2017 9:18 PM

Phanuel / bo polny just called the top on bitcoin, although he’s not very accurate on gold/silver, he’s had good calls on btc, he’s calling for 2/2500+ drop, are looking for 5720 or 2300/2600 entry point as discussed earlier ?

Phanuel
Phanuel
Member
November 6, 2017 11:35 PM

Hi Lance
The problem is I think we are getting to a multi year top since 2015. The 2339 I saw had BTC attached to it but no dates. With the fork coming by Nov 16 anything can happen.

Shalom

faith
faith
Member
November 9, 2017 3:12 PM

Hi Phanuel, I can confirm. On 10/27 I had a dream where BTC was at the 5900 area and it dropped to 2330 “in 10 minutes”. I understand that to mean it will drop in a relatively short amount of time or 10 day period. I also had a dream on 10/4 that EOS dropped to a very low price. I’m awaiting confirmation though before sharing that. It could be when BTC has this drop the alts will follow.

Karen G
Member
November 17, 2017 9:28 PM

Perhaps it is 10 days from Nov 12th, when BTC was 5900. I recently saw 1.28, I think it was PRELF.

Ed H
Ed H
Member
November 9, 2017 10:38 PM

Thank you Faith. Going to pray about your dream for sure.

Phanuel
Phanuel
Member
November 9, 2017 3:49 PM

Thank you Faith! you and Karen confirm what I’m seeing in cryptos! so please keep sharing. VERIs drastic fall was fulfilled. I also saw BTC at 5720 and 6134. 10 minutes is usually 10 days!

shalom

Richard
Richard
Member
November 15, 2017 10:57 PM

Veri is up 20%, may hit $100 soon.

Richard
Richard
Member
November 16, 2017 2:02 PM

Almost $140 now. Phanuel – this one is amazing.

Richard
Richard
Member
November 16, 2017 5:33 PM

I noticed that the official price of Veri on the consolidated pricing charts [coinmarketcap.com] only showed a high of only $112, but I was able to sell at $125 on hitbtc.com.

Karen G
Member
November 10, 2017 8:55 PM

I also had a dream some time ago, Something was dropping fast to the low 2000s and I said “wow, it did happen”. I believe it was BTC but it could have been SPX. I have had some other dreams not as clear, they are symbolic and I am having trouble interpreting them.

Phanuel
Phanuel
Member
November 9, 2017 4:09 PM

Faith,
how low did you see EOS drop?? Im going to sell what I have and convert to PPT and OMG. EOS has had a good run.

shalom

faith
faith
Member
November 9, 2017 9:31 PM

This may be hard to believe Phanuel, but in my dream it had dropped to .02.

Lance
Lance
Member
November 9, 2017 9:59 PM

Faith: they won’t even be worth that after June ’18 if their not registered!

Terry
Terry
Member
November 1, 2017 7:43 PM

The more I learn about the crypto currency,
i can see it becoming the tool of the Mark of the Beast.
Would make a lot of sense consider a chip implanted in the right hand or forehead, this chip has a unique 1024 bit number assigned to it, then this number will be tied to a crypto currency. All other currency due to collapse etc will be deemed illegal, or just plain worthless like when the dollar collapses due to debt, people will not want to take dollars, but they see bit-coin etc worth thousands and will gladly take it.
Knowing that Crypto requires your own personal id, and then another held by the database that is instantly updated as transactions happen much like credit/debit cards but without a central bank to manipulate it.
Just something to ponder, THis came to me a week or so ago, and not saying it was prophetic in anyway…

Phanuel
Phanuel
Member
November 1, 2017 1:04 PM

Don’t worry we will get good prices very soon. I also saw 1888, but it didn’t have btc attached to it. My hunch is it may be Btc.

Shalom

Phanuel
Phanuel
Member
November 1, 2017 3:16 PM

Eos has been mooning the last few days!

Nick
Nick
Member
October 31, 2017 10:12 AM

James – off topic but maybe helpful – crypto friends please chip in if I’ve missed anything.

I woke up in the night, and this morning, thinking about this again – it’s a way you could benefit from all the Z3 page views, esp. since you don’t run ads.

The guy who co-founded Mozilla (Firefox etc) and invented JavaScript is a Christian I believe and left under a cloud for posting negatively about gay marriage – http://www.bbc.co.uk/news/technology-26868536

He then set up Brave Browser – https://brave.com – and the Basic Attention Token or “BAT” – which is linked, and traded as a cryptocurrency – https://coinmarketcap.com/currencies/basic-attention-token/

I’m not in BAT currently, but have been. I use Brave as well as Safari on my Mac – it’s great for EtherDelta.com, which we all struggle with as an exchange.

Brave’s USP is that it’s ad-free. Instead of ad revenue, website owners receive BAT tokens instead, according to the number of hits generated from Brave Browser users. BAT Tokens are convertible into Bitcoin/ other tokens at http://www.exodus.io, which we all use and is great, and elsewhere.

So, your integrity could be rewarded by free entry/ participation in cryptocurrencies, if you wished. And still no ads. We would all need to use Brave to access Z3 to make it work, though. Not sure how everyone would feel about that (I was going to email but think it helpful for others to critique this).

God bless you and the Bailey family.

Other links here (NB I’ve got nothing to do with Brave/ BAT, other than using it!):
https://brave.com/publishers/
https://publishers.basicattentiontoken.org

mem
mem
Member
October 30, 2017 9:14 AM

How does one short btc?

William
William
Member
October 30, 2017 10:14 PM

If doing something make you nervous , then don’t do it.

Ed H
Ed H
Member
October 30, 2017 7:45 PM

Mem,
Look up MPEX, you can trade the BTC/USD pair if you are brave. I dont know much about it just did some research on this exact topic.

Phillip
Phillip
Member
October 30, 2017 12:20 PM

Depends what country you are in. Normally through an exchange or brokerage house

Richard
Richard
Member
October 30, 2017 7:26 PM

It’s also my understanding that to do true shorting (not put options) at a major brokerage, a person has to buy the equity, and have something like 100k cash as collateral. True shorting is for the big boys, not small fish.

Rob Perrett
Rob Perrett
Member
October 30, 2017 4:26 AM

I’m long bitcoin, but expecting a continued bumpy ride

Joseph
Joseph
Member
November 1, 2017 1:13 PM

Rob, I’ve never purchased a crypto-currency. I believe BTC will see a drop at some point this month. When it happens, I want to buy the drop. What is the safest way to purchase BTC? Any guidance would be appreciated – thanks for the help!

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