Bitcoin is moving as expected. If we fall below trend I could see us dipping lower but I feel that as the USD Index continues to show weakness that the crypto markets should benefit from it. We have retraced per the Fib Retrace to 50%. This lines up with the trend perfectly.
Just like in 2017->2018 as the US Dollar was fatigued, Bitcoin and other cryptos showed strength. I believe that we will see similar action to that as we speak. The US Dollar is again showing fatigue. Money is moving back to foreign currencies heavily. Today USD/JPY is -3% ish. The value of the dollar will depreciate faster than expected.
There are 62 days left at the time of writing this post until the Bitcoin halving.
There is a lot of interesting things going on around the world. Corona virus setting in right as Chinese protests turned to the very worst. Oil price wars upon us. US markets were over extended in the first place. Money from overseas is being contained as it re-enters the US. What will be the trigger here?
What will bail us out? Will the Feds print more money or will something take the US Dollars spot? Will a Gold Standard be re-implemented?
Please criticize, like and comment!
I look forward to reading what others may think about this thought process.
Just like in 2017->2018 as the US Dollar was fatigued, Bitcoin and other cryptos showed strength. I believe that we will see similar action to that as we speak. The US Dollar is again showing fatigue. Money is moving back to foreign currencies heavily. Today USD/JPY is -3% ish. The value of the dollar will depreciate faster than expected.
There are 62 days left at the time of writing this post until the Bitcoin halving.
There is a lot of interesting things going on around the world. Corona virus setting in right as Chinese protests turned to the very worst. Oil price wars upon us. US markets were over extended in the first place. Money from overseas is being contained as it re-enters the US. What will be the trigger here?
What will bail us out? Will the Feds print more money or will something take the US Dollars spot? Will a Gold Standard be re-implemented?
Please criticize, like and comment!
I look forward to reading what others may think about this thought process.
