If crude oil prices stay above $100 per barrel, it will negatively impact the global economy and cause GDP estimates to be revised lower.

The United States and the Western Hemisphere have become the primary price-makers in the global crude oil market.

The combined surplus of crude oil supply versus demand in the U.S. and Canada is currently 8 million barrels per day.

The current spike in energy prices is analogous to the 2008 spike that accelerated the Great Recession.

Bitcoin's price performance is now lagging the stock market, a shift from its role as a leading indicator that began in 2021.

Mike predicts that crude oil prices will eventually fall below $80 per barrel.

Mike believes crude oil prices are currently stuck in a new trading range between $80 and $100 per barrel.

The effective percentage of global crude oil transiting the Strait of Hormuz may have fallen from 20% to 10% due to bypass measures implemented by Saudi Arabia.

Mike predicts that the December WTI crude oil futures contract, currently at $72 per barrel, will fall to $50 per barrel by the US midterm elections.

Mike predicts that Bitcoin's price is more likely to head towards $50,000 this year.

Mike believes the bull market for cryptocurrencies is over and expects prices to continue a downward trend.