Bitcoin Outlook 2021

#Bitcoin looks like a relatively dangerous place to be in terms of the ever so delicate balance of risk/reward. I have been forthright in my view that the $2.4T cryptocurrency market cap is a huge drag on the global economy; that is to say, any dollar sitting in some crypto form of savings is... well, not really doing what it is supposed to do. Policy Makers know this and they likely will respond accordingly. So it should be noted that although we hear a friendly attitude toward cryptocurrency from policy makers, they simply will not co-exist.

But... But... why don't we agree with all of the other granola-bar-"analysts", who are adamant that "bitcoin fixes this". Fixes what? When? Where? How?

Here's the thing: If a business needs an alternative form of payment for their revenue-collecting process, that business is dying. "Oh you don't have any dollars? That's ok, we will accept your bitcoins".... what? WHAT?

Dollars. Dollars make the economy go round. Not gold, not silver, not digital images, not bitcoins or dog coins. Dollars. Lol, if you can't get dollars and you think a non-legal tender is going to take you to your financial goals... you are dreaming.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.