Or potentially a descending triangle, Bitcoin is being met with resistance that I have colored blue which is a downward sloping trendline since the blow off top of late 2017, and the other blue line is strong support dating back to 2017 & more recently it's acted as a Micro bottom multiple times. Bitcoin is still trading above the 200 Day MA & with the halving approaching it's very possible this plays out bullishly, only time will tell. One thing to keep in mind is that Bitcoin wasn't nearly as liquid for the previous halvings, now with the CME futures & Bakkt etc etc now in play it's important to be aware of a potential sell off.
Hyperinflation is real, and it can happen to the United States & Canada, if you think otherwise you are gullible & don't know your history.
Bitcoin, Ethereum & decentralized p2p electronic transfer of value is not only the future, it's the present answer to such a scenario. Along with some other traditional assets like gold & silver.
Zimbabwe,Turkey, Iran & Venezuela have all been experiencing Hyperinflation recently.
Do you know the last time Zimbabwe had a Hyperinflationary period?
March 2007 - November 2008, History repeats itself.
This is the same time the most recent financial crisis took place, resulting in Bitcoins whitepaper being released by Satoshi Nakamoto.
A major historical precursor of hyperinflation is war that destroys the capital stock of an economy and dramatically reduces output, but the misplaced monetary and fiscal policies that ensue are almost always part of the story.
Even some of the largest economies in the world today; China, Germany, and France have suffered devastating hyperinflationary episodes.
Hyperinflationary episodes have appeared several times over the past century, around 60 times to be more exact, as the world's nations have experimented with fiat currencies backed by the full faith and credit of the governments that issue them.
At times, that full faith and credit has been misplaced and holders of unstable currencies have been caught empty-handed in countries all over the world.
In regards to Gold, I'm not sure if people understand this, some say Gold is a store of value & I agree, kinda....
It depends on what you consider a "store of value."
Because technically, since Aug 2011 Gold has been in a bear trend, and it appears as though its made a double top, unless Gold creates a new all time high with the more recent bullish activity.
Gold went as high as $2,172.26 USD in January of 1980, and dropped nearly 75% afterwards & went into a 21 YEAR BEAR MARKET. Nice STORE OF VALUE!
Bitcoin on the other hand has much faster boom & bust cycles.
Gold went from $678 USD in Feb 1934 to $236 by Dec 1970, over a 50% decline & a 36 year bear market until the price recovered increasing 10x in 10 years from 1970 to 1980's.
I wouldn't be surprised if Bitcoin retested it's 2017 ATH before Gold retests its January 1980 ATH!
Bitcoin has provided greater returns since 2015 than owning an ounce of Gold at spot price since 1975, even after Bitcoin has fallen from recent All Time Highs.
This trend will continue, Bitcoin & crypto related assets can be part of your portfolio, even if its only 5%.
Gold is the yellow line.
Hyperinflation is real, and it can happen to the United States & Canada, if you think otherwise you are gullible & don't know your history.
Bitcoin, Ethereum & decentralized p2p electronic transfer of value is not only the future, it's the present answer to such a scenario. Along with some other traditional assets like gold & silver.
Zimbabwe,Turkey, Iran & Venezuela have all been experiencing Hyperinflation recently.
Do you know the last time Zimbabwe had a Hyperinflationary period?
March 2007 - November 2008, History repeats itself.
This is the same time the most recent financial crisis took place, resulting in Bitcoins whitepaper being released by Satoshi Nakamoto.
A major historical precursor of hyperinflation is war that destroys the capital stock of an economy and dramatically reduces output, but the misplaced monetary and fiscal policies that ensue are almost always part of the story.
Even some of the largest economies in the world today; China, Germany, and France have suffered devastating hyperinflationary episodes.
Hyperinflationary episodes have appeared several times over the past century, around 60 times to be more exact, as the world's nations have experimented with fiat currencies backed by the full faith and credit of the governments that issue them.
At times, that full faith and credit has been misplaced and holders of unstable currencies have been caught empty-handed in countries all over the world.
In regards to Gold, I'm not sure if people understand this, some say Gold is a store of value & I agree, kinda....
It depends on what you consider a "store of value."
Because technically, since Aug 2011 Gold has been in a bear trend, and it appears as though its made a double top, unless Gold creates a new all time high with the more recent bullish activity.
Gold went as high as $2,172.26 USD in January of 1980, and dropped nearly 75% afterwards & went into a 21 YEAR BEAR MARKET. Nice STORE OF VALUE!
Bitcoin on the other hand has much faster boom & bust cycles.
Gold went from $678 USD in Feb 1934 to $236 by Dec 1970, over a 50% decline & a 36 year bear market until the price recovered increasing 10x in 10 years from 1970 to 1980's.
I wouldn't be surprised if Bitcoin retested it's 2017 ATH before Gold retests its January 1980 ATH!
Bitcoin has provided greater returns since 2015 than owning an ounce of Gold at spot price since 1975, even after Bitcoin has fallen from recent All Time Highs.
This trend will continue, Bitcoin & crypto related assets can be part of your portfolio, even if its only 5%.
Gold is the yellow line.
