ThrillThe USDOLLAR is continuing its road to zero and ignorant bitcoin "investors" and "experts" have no clue what the real reason for their magic beans going up is.
Bitcoin is behaving pretty predictably. In the details can't tell if the price stays around 20k for long, or keeps going up, going to depend on how fast the USD falls. Depends how excited the crypto community gets.
But for sure BTC is "following" the general global monetary & geopolitic situation.
Bitcoin permabulls are starting to get thrilled. Excited bagholders looking to FOMO in (after exiting a few months ago) are not able to log in and buy (lol)!
The CME also just announced they would launch Ethereum futures.
Out of all the instruments available, smart money can look for the best trade, best pullback best RR:
Euro, Krona, Indonesian bonds, or even Bitcoin, whatever it may be.
🤔
China currency is likely just going to strengthen, the west will continue to collapse, and in 3 years the Vietnamese middle class will come spend their strong currencies on holiday in the US, UK, France & Germany.
If BTC competes with China east asian regional currency (that competes with the USD) they might have to ban BTC.
Crypto CFDS are gone in Europe, if I want to bet on BTC I can go through Kraken, I think I'll just pass.
Might as well just short USDCNY & USDSEK that keep winning, there is literally no difference with buying BTC, it is the same trade.
Long term investments for me - this is a side activity - will be Asian fixed income tools as well as maybe a few UK, Australia, Scandinavian, and Asian stocks, certainly not some coinflip crypto lottery ticket; and I will not take much risk personally, my goal is very slow and steady, safe bonds mostly, even with very small returns, just want certainty and as little risk as possible.
Crypto is random and it has a high risk of getting banned.
The west and the US can continue to collapse for a while so everything including Bitcoin can continue to go up.
With asians making their own money and China "conquering" Hong Kong (for its financial center what else?), they will invest their surplus in their own economies rather than continue to finance the US growth & comfort social programs.
France is even worse, social programs ALONE are a bigger % of GDP than the ENTIRE China public spending in % of GDP.
I think they plan on robbing people savings directly, to survive a bit longer. Better flee to the UK or anywhere else before this happens.
The UK might survive. They have demographic issues though, and have a hard time securing their borders, and already have 1000 tribes fighting each other, and they still have not started taking pro-natality measures (will they ever?).
For delusional BTC "true believers" that think BTC is going up on its own:
Asian money just going to keep on keeping
Recently I had a very good buy on Bitcoin, with Europe guaranteeing losses, comfy.
But it all got banned, too many noobs getting their faces ripped off.
I do not think it is worth the trouble to go out of our way to get some BTC. I won't. Just cannot be bothered.
In PPS:
- China 16% of world GDP
- USA 16% of world GDP
- EU (-UK) 16% of world GDP
Apart from banning crypto CFD I don't see what the EU has in mind? Maybe they ban Bitcoin because it transmits covid? (according to them)
I'd keep my eyes on the USA currency and on what China will do.
I see no reason for the price of Bitcoin not to keep going up.
