Bitcoin

[Zero000]

I am pretty sure this is the beginning of the end of fiat currencies.

All fiat currencies throughout history have done so i.e. gone down the drain.

The US dollar has had it.

 

[RogerD]

Bitcoin....Is it a "break"? Sure fits the pattern and the time window.

 

[Ron Resnick]

Who knows?

BTC re-took US$50,000 pretty decisively -- US$52,944.96 according to coinbase -- it seems to me. A breather is not unreasonable.

Volatility is what this crazy asset excels in.

 

[bonzo75]

It's gone straight up from under 30. Correction is inevitable

Lots of high leverage was on too so they got wiped out

 

[KeithR]

I am pretty sure this is the beginning of the end of fiat currencies.

All fiat currencies throughout history have done so i.e. gone down the drain.

The US dollar has had it.

this has been a rather poor investment strategy. if you held gold from 2000-today, you would have underperformed the S&P by 2.5% a year despite the GFC annihilating stocks

 

[Folsom]

NFT’s is where the action is right now.

 

[Zero000]

this has been a rather poor investment strategy. if you held gold from 2000-today, you would have underperformed the S&P by 2.5% a year despite the GFC annihilating stocks

I wasn't talking about gold.

I am saying currencies backed by nothing with no fixed supply or relatively fixed supply have always failed historically.

Therefore the dollar as it stands now will fail. Thank Nixon.

It's just a question of when.

 

[Ron Resnick]

I wasn't talking about gold.

I am saying currencies backed by nothing with no fixed supply or relatively fixed supply have always failed historically.

Therefore the dollar as it stands now will fail. Thank Nixon.

It's just a question of when.

But, Justin, it has, in my opinion, always been "just a question of when." "When" could be 25 or 50 or 200 years from now.

 

[Zero000]

But, Justin, it has, in my opinion, always been "just a question of when." "When" could be 25 or 50 or 200 years from now.

I think the dollar as it is now will definitely be short lived.

It will move to a CBDC very quickly. Within five years is possible. It will become a tracking mechanism. However its supply will be under political/central bank control. It will be eminently confiscateable. The advantages are so strong from a governing perspective it is ridiculous.

I think Bitcoin is the strongest placed to survive governing body attacks. Even China can't stop it.

Just look at the manipulation that occured when it became legal tender in El Salvador today. I guarantee it will survive it. This was deliberate manipulation by the largest holders. Governing bodies want to hold the prices down like never before.

The IMF are petrified of losing power & control. They are scared. Genuinely. I could go on but there's loads on You Tube telling you the same.

It's obvious.

The strongest point is Bitcoin genuinely offers freedom from the US dollar.

 

[Ron Resnick]

I am not a big fan of conspiracy theories on YouTube.

 

[Zero000]

Well no, YT is full of absolute rubbish.

But what isn't? It's your reality. Live within what tells you is best.

That said, YT is becoming a premium resource beyond all recognition. Great AI will harness it. Hopefully not for the sub-standard content, though.

 

[RogerD]

I am not a big fan of conspiracy theories on YouTube.

Lol....There are no conspiracy theories on YT anymore....big tech saw to that.
Btw it will be worse......

 

[RogerD]

So how will all markets react to medical tyranny? A 5th wave failure in a ending diagonal is very bearish in my experience...just a observation in unprecedented times.

 

[bazelio]

I think the dollar as it is now will definitely be short lived.

It will move to a CBDC very quickly. Within five years is possible. It will become a tracking mechanism. However its supply will be under political/central bank control. It will be eminently confiscateable. The advantages are so strong from a governing perspective it is ridiculous.

I think Bitcoin is the strongest placed to survive governing body attacks. Even China can't stop it.

Just look at the manipulation that occured when it became legal tender in El Salvador today. I guarantee it will survive it. This was deliberate manipulation by the largest holders. Governing bodies want to hold the prices down like never before.

The IMF are petrified of losing power & control. They are scared. Genuinely. I could go on but there's loads on You Tube telling you the same.

It's obvious.

The strongest point is Bitcoin genuinely offers freedom from the US dollar.

Please don't go on. Lol. The problems with the dollar are indeed obvious, but settle down. Demand for the dollar is at an all time high. It may go away eventually. No doubting that. But "short lived" is silly, if your definition of "short" is within 5 years. Maybe you're watching too many Peter Schiff videos.

 

[Zero000]

Demand for the US dollar is not at an all time high.

 

[RogerD]

USD demand will rise as interest rates rise. We are entering a unprecedented time.The Federal Reserve has manipulated short term rates to zero. That will come to a end as debtors and creditors become suspect and that will bring higher rates...increasing demand for the USD. When bubbles burst wealth evaporates faster than they can print.
Are we in a bubble? I contend a irregular (B) top which will be entirely retraced. Wave 5 ended at the 2020 high. We will see.

 

[Zero000]

Interesting.

Keep posting.

 

[bazelio]

Demand for the US dollar is not at an all time high.

False.

 

[Zero000]

False.

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[RogerD]

Just a update on the SPX
So I count 5 down from the top. That is the first necessary element for a change of trend for stocks and probably other assets. The top if it has occurred on September 2nd. A bottom is due 55 trading days from that top. Should become apparent in the next 2 weeks.