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BITCOIN AnalysisUpdating the last post. BTC going down as spotted, healthy correction. Touched the second zone I had market today and it started to have some minor pullbacks, specially if you check the 4h chart. My expectations for BTCUSD is $43.7k as a good dip to add more buys, it's already at good price, everyday it is a good price if you're holding long term with the expectations of 100k USD, but also doing DCA it's already a good discount from what it was before. I believe in the crypto ecosystem and this post here for me is just more like a journal to see how things pan out in the future. I can only imagine how Michael Saylor is loading the bags now again haha
BITSTAMP:BTCUSD
by LegionWolf
$BTC/USD BEFORE ATH!!! FLASH CRASH INCOMING FOR BITCOIN?Even though im bullish for the long term, there has been many social and economical events that indicate markets are about to be shaken.. Now the charts are telling that we are going to catch some demand orders a bit lower, any correction or impulse is in a straight line, so bear that in mind before placing your orders. On BTC we have a bearish divergence with the price and the RSI (A bearish divergence is the pattern that occurs when the price reaches higher highs, while the technical indicator makes lower highs. Although there is a bullish attitude on the market, the discrepancy means that the momentum is slowing. Therefore it is likely that there will be a rapid decline in price.) While the DXY is showing a massive hidden bullish divergence on the monthly chart.
BITSTAMP:BTCUSDShort
by AMCryptoTrading
4
USD at 78-84 cents by August 2021 ?!Bear trap at 93 cents is almost confirmed and if we head down, look back longer period charts to get guidance on there the key long term support is. I would not short the USD but it's hard to imagine the world is going to flock to the overvalued USD since endless debasement is not endless. Yes, it's endless as the ravine is endless.... The only thing that's holding on the USD at about 90 cents is it's the safer of the FIAT currencies. Or it is? Comment, like, dislike. Everything is good in using the truth as guidance.
INDEX:DXYShort
by UnknownUnicorn2413721
USD broke out of downtrend with CHF but overboughtThe sharp rise in 10y US Treasuries got people excited over the USD. I'm forced to looked at foreign exchange, FX, because with crypto and stablecoins impact, it's critical. More than just charts. From a chart perspective, nice setup breaking down of the converging triangle. Enjoy the ride up and take profits and set your stop loses. I'm expecting the USD to go down from the 92/93 to the sub 90s in the coming weeks. Stimulus passed and all. With over a quarter gazillion dollar world debt, look it up!, a trillion dollar Bitcoin as "reference currency" seems to be what the world governments all need at this point to make everyone accountable. FIAT, as it continues to be debased, will survive and morph into Central Bank Digital Currencies CBDC which should become the stablecoin for stable counties and unstable coins for unstable countries. Isn't Switzerland one of the most stable countries in the world from fiscal perspective? Please comment if you use a better FIAT pair to check the health of comparable FIAT worldwide. Bitcoin was just in time and has survived the test of time. Now with L2 like Lightning, dealing with the transaction scaling and costs, they future will be very interesting
by UnknownUnicorn2413721
SHORT TETHER to zero!? USDT now illegal in the US???? New York.NY Attorney General has deemed Bitfinex and Tether illegal in New York State? And why? ag.ny.gov I'm relatively new to crypto but Tether and stablecoins are a complete scam? It's like a digital counterfeit US Dollar that's beyond the US regulatory reach? Or not? If one carefully reads New York's Attorney General - seems like she's passing the baton to other authorities in the US to deal with the matter on a larger scale with a bigger stick? A national or even international stick? How does one short USDT? Seems like a MUCH better short than the real USD? A fake crypto unbacked USD coin that's not even controlled in the US is a complete and utter joke and yet, its world wide volume beats open source, open code and undelutable Bitcoin BTC? "Houston, we have a problem in cryptospace. expect massive storms ahead and great turbulence..." "yes, I mean, more turbulence!" Tether shows the dangers of closed corporate and unaccountable owned coins. Crypto = don't trust humans or banksters, verify". Tether has zero accountability. You have to be totally clueless to use this coin for legit reasons. Who owns Tether and controls it? If you know the answer to this question, you would not hold USDT or any over unstablecoins. i am truly amazed to see that trillion of dollars is volume is moving around the planet on a worthless Tether crypto backed by a FIAT is already in big trouble.Tether is apparently backed by billions of dollars that have never been audited! Is this a joke on a cosmic scale? This is where the US Central Bank and government need to step in and ban all of the "stablecoins" since these need to be back with real FIAT from the Federal Reserves of each country. The US needs to own all *USD* based stablecoins which means investors and traders, will be fleeing away from these highly toxic "unstablecoin" coingeek.com I am not actually short Tether because I don't short scams. Too unstable. As this long term chart demonstrates Tether has a nice short squeeze. There's safe ways to cleanly make money. If the US can't figure out how to deal with a few digital counterfeiters of the USD, investors can only speak with their dollars. On the plus side, two things will happen with the looming and unavoidable Tether USDT crash: 1. The US will have someone to blame. Specifically, the two characters behind Tether. I hope they have a good army because I would not go up against the US Government even with billions of US funds. There's no place to hide in the world. Ask Julian or Edward! LOL Best to always stay on the government's good side because it might take them years but they can't allow this "st 2. All the "unstablecoins" like Tether and other non-sense "BS pegged" currencies are toxic. Stablecoins should only be issued by the various central banks. So the USD stablecoin needs to be the Fed's CBDC 3. Bagholders of toxic BS stablecoins like Tether USDT will move their money to Bitcoin and Ethereum as the King and Queen of open, unmanipulated, crypto with BTC having the lead because of Lightning L2 and its finite supply of satoshi. Looking forward to truly sovereign government backed, stablecoins from each country. Not sure which one I would trust just yet but it would become clear which countries have their house in order and which are a total farce.
KRAKEN:USDTUSDShort
by UnknownUnicorn2413721
Bitcoin New Psychological Price Floor of $40,0000?Will we ever see Bitcoin in the $30,000 - $39,000 price range again? We've been forming a nice psychological base support level above $40,000 since February 8th. Ever since Elon Musk & Tesla announced their historic purchase of Bitcoin the days of even a $40,000 Bitcoin may very soon be a thing of the past. But of course that's just mere speculation there's always a possibility we go back down. Now every day that goes by we're starting to miss the days of accumulating Bitcoin at "cheaper" prices. As of now from the 4 hour chart perspective Bitcoin below $47,000 is seeming like a nice buy. Remember this is the year of the "Great Race" for Bitcoin. We need to consider that world governments, corporations, financial institutions, business, and individuals world wide are starting to realize the fundamental need for Bitcoin as we'll continue to see the destruction of fiat dollars world wide throughout this decade. The only solution governments know is to continue printing cheap money .The biggest global Fear Of Missing Out (FOMO) possibly in the history of man. There is a need for Bitcoin now more than ever. Cheers and much love and peace as always! Stay wealthy and stay healthy!
COINBASE:BTCUSDLong
by peacefuljustin
4
Bit Coin and Macro TheoryI am not doing any charts or lines or graphs or technical analysis, I am just going to give you the low down on whats going on and how IMO i dont believe btc will fall any time soon. This will all be in laymen's terms and simpler than normal break down. But it gets the gist across, as I don't want to bore you with the hardcore analysis I did as it hurts my head with the time spent on it. 1. Supply and demand, we all know many countries around the world are printing money like never before in human history, so what's this mean and how does it effect stores of wealth? Well lets start with the header, simple run down, the more of something there is the less value it holds, this goes for all fiat currencies, if more is printed the value drops and the way to hedge inflation is to drop interest rates to all time lows. Now I wont get into my macro theory here as its whats making me money, but understand that the value of btc is directly related to the weakness presented by fiat currently, now with the large supply of fiat in circulation there is a problem which is unique to the USA, the US dollar is used for 80% of all transactions in the world on a trade level its used as whats known as dollar backed trading, where the US dollar is a reserve currency around most of the world, why do you think the US can sanction places and no one goes against it? It because of the dollar being a reserve currency, now the problem with this is the devaluing of the dollar which is currently happening whether or not we feel the repercussions of it yet or not, and to be blind to it is not good. 2. Store of value, we all know store of value is important when trading if its stocks or cryptos or otherwise, it is what gets you into the game, to hedge your bets and make money. But like above if the US dollars belief as a store of value is to be determined we have to look at the underpinning value of it, as explained above value = scarcity , so again if there are more dollars in circulation then the store of value drops, where do you think people should go as the dollar collapses, what is one thing that has a finite supply, its not gold as new mines get discovered all the time, precious metals are in the same bag, silver, platinum, nickel, iron, and others can all be found and used even to the point of detriment to the earth, btc has a finite supply, there fore limited supply = scarcity = store of value 3. Charts and analysis for btc, every person has their belief in this or that when it comes to bitcoin but no one "LET ME REPEAT THAT" NO ONE can predict the price through technical analysis at this point as we have broken new ground and a new measure needs to be implemented to further track the rise or decline of btc, so lets take some of the above and apply it to our thinking, if a= fiat b= precious materials and c= cryptos then we need to break it down to its corresponding elements and how the interaction of those makes charts and analysis near worthless. as there are no historic markers for btc to prove definitively one way or another besides the rise and fall in 2017 we cant use the 2017 rise and fall as an example as even looking at the charts show the rises are not similar in structure or volume and are not pushed by a deflating fiat currency, so we need a bigger picture to the situation, now here comes the hard part about all of my work and thats figuring it out. ' 4. Results of Burning up my brain, this one is long so be prepared , deflationary fiat, gold not having a cap, the rise of btc. If we look at these 3 factors and only these three as they are what directly links us to trade and not having to barter instead, we find that each one is related especially gold and fiat, first lets start with fiat, specifically the US dollar and History of the US treasury, during the Nixon era of US governance we saw the pull away from gold as the backing for the US dollar, now whats that mean you may ask, well lets dig in a bit, if gold is not backing the dollar then what is and the simple answer is the dollar backs the dollar sounds stupid right, thats because if the dollar backs the dollar then the only thing holding it where it is is the belief in its value and as money is printed with no backing the currency deflates and interest rates must be reduced to prevent downward pressure on the currency, now whats this mean if the dollar is used as the backing for most trades, it means you get less for every dollar you spend, and if the dollar makes up 80% of all international trade then I suppose you see the dilemma to fiat not backed by anything. So we move onto btc and its value based upon a hard cap and transactional value based upon nodes and upkeep of network , now i wont get into all the technical jargon behind how btc works or how btc is produced so i will give you a quick summation, btc is created as payment for those who ledger the transactions on the btc network ie the ones who are mining, they upkeep the nodes that put transactions where they need to be ie block discovery, now the more miners you have the more secure the network becomes as the ledger is held by all computational devices on the network at once, thus securely ensuring that there will be no rogue actions to create bitcoin where no transactions have taken place thus securing the network. Now with this fundamental knowledge we can move forward on whats going on now. With all the above mentioned info we can start to see a reason why btc is going up and why it wont be going down to 20 k or 18k or probably even down to 40 k any time in the future, let me paint you a picture, many companies rely on the dollar, the dollar is losing value, gold does not have a hard cap as we will always find gold whether its on earth or some where else as it is an element, we even have a little Au in our bodys every minute of every day just like lead, iron, zinc and all the other things that make up our world, with no hard cap on gold, what would store of value the best, an ever increasing supply of gold or a hard capped digital currency held together by the whole network. Now many big companys have been seeing btc as a store of value against the dollar and gold, it is why we have seen the uptick we have. Lets dig a bit here on why, well there is a couple reasons i will set right here for you, deflationary fiat, and gold , i get it i said those earlier but lets think about it for a second, as a big investor why would you go into gold for example when it has relatively been stable and you may see returns of 3% or would you go into something that from a technical stand point after adoption should not deflate due to outside forces ie government spending, money printing, war, and cant be controlled by an outside entity , well the answer becomes pretty simple, as with all companys the point is to grow the value of said company and if both the dollar and gold dont provide good returns on investment then why would you go into either. Its all pretty simple to me and I know this article leaves a lot for you to fill in the blanks and I am sorry it does, i just cant have someone else figure out what I got going on as it is risky theory crafting and I dont want someone to possibly fall in and be like this dude got me all mucked up. If you have any questions or comments feel free to ask and I will answer questions through a private chat on fb or other network applicable chat. I got bored of typing this long drawn out stuff, so here this is what you get!
COINBASE:BTCUSD
by shardlion
8
DIXIE 50?!?(Check out my previous accurate calls on the dollar from the past year below these comments) Has anyone else noticed the massive bearish symmetrical triangle on the 3M DXY chart? Everyone believes the dollar will strengthen in the short term, but I think we have formed a head-and-shoulders pattern and are in for another significant leg lower! The 1.618 continuation on this decade-long bear market rally is almost exactly at 50 on the dot, and I believe we are heading there fast!
TVC:DXYShort
by UnknownUnicorn4195243
1
Calling Tops is Virtually Impossible, but Here Goes!After nearly a decade, I believe the outright manic outperformance of tech stocks over commodities came to an end this past week! Does this mean that the prices of shares in tech companies will fall or even crash? No. It simply means that commodities and the shares of commodity producing companies will outperform them over the coming years... The cost of hedging inflation is about to skyrocket, make sure you are positioned accordingly...
TVC:NDQShort
by UnknownUnicorn4195243
1
I Hate to Say I Told You So!Marked in green are the 3 days in this correction period where I reaccumulated and added to my PHYSICAL holdings of silver! I saw many "expert" traders and technical analysts claiming that new lows, another crash, 1700$ gold, etc. were guaranteed... 99.9% of people, including these "experts", don't understand how the prices of silver and gold are suppressed, and just how much higher they should be! Every second silver remains at prices under ~1000 $USD is a gift from the heavens and you should be buying every dip!
SLong
by UnknownUnicorn4195243
3
YOU ARE HERE - Bitcoin Bull Cycles We exchange our time (finite) for cash (infinite). We store our time (finite) in cash (infinite) for accumulation and later use – store of value. Monetary technology systems change – from food, animals, precious metals, to promises then paper. Money printed faster than the trees it grows from . The best performing fiat currency is the British Pound which over it’s 317 years of life has lost 99.5% of it’s value . The dollar in your pocket worthless than it did last year. Cash (infinite) as a store and measurement of value is not accurate – like a bent ruler. Cash is man-based currency. Man is greedy, man is short sighted, man make mistakes, man lie. Bitcoin is math-based currency. Math is nature, math is reality, math is accurate, math does not lie, math the language of God. Bitcoin’s scarcity is the greatest monetary breakthrough never before - and never again - achievable by mankind. Bitcoin is a one time, path dependant invention that dematerialises gold – it can move faster and easier, hide anywhere but cannot lie. Of the total 21,000,000 approx. 20% are lost forever = 16,800,000 - supply. Of the circulating supply, 78% is not for sale and increasing – demand. If you own 0.0224BTC you are in the 1% club – of the world. $4.8 million per BTC = approx. $150 trillion market cap. Cash is a bent ruler, but USA military expenditure in 2019 = $1.9 trillion. Once we surpass 50k we may only see it once more. Yes this dip will be a blip.
BITSTAMP:BTCUSDLong
by ZooperDooper
6
The Rise and Rise of Bitcoin. Fib Targets Breached!Amazing Price Action on Bitcoin this weekend. Bitcoin has risen $500 almost everyday since November. Institutional money is flowing in. We have heard about Square's acquisition of Bitcoin. We have heard of Paypal's wallets and adoption of cryptocurrency. There have been reports that many other whales have been taking part in the recent Bitcoin move. The most interesting for me has been Billionaire Stanley Druckenmiller. A well respected and admired investor. In November, he said that he owns some Bitcoin because has has 'warmed up' to the idea of the cryptocurrency being a store of value. Maybe not a coincidence that Bitcoin began having $500 plus days after Mr. Druckenmiller's comments. Why do I find his comment very interesting? Because it has been my case on the rise of Bitcoin. This is the trade out of fiat currency. Don't forget, Stanley Druckenmiller is still big on Gold, along with Ray Dalio. The idea was to be out of cash. 'Cash is trash' as Ray Dalio put it. My followers and readers have been warned about this set up for sometime. Central banks really are stuck. Whatever you think about covid, the truth is that the monetary and fiscal response to the virus will be doing some damage. Central Banks have been expanding their balance sheets, and are slowly morphing into the buyers of last resort. They will be the most powerful institutions in human history. In the currency war arena, central banks are attempting to weaken their currencies to boost exports and inflation. It is a race to the bottom. Certain central banks (like the European Central Bank) are finding it difficult to weaken their currency against the US Dollar even when they expand their money printing. Cutting rates is next. Many Western Central Banks have already cut rates down close to 0. Negative rates are next. For Central Banks that are already at negative, again like the ECB, they will have to cut deeper into the negative in an attempt to weaken their currency. On the fiscal side, the US has passed a 900 billion covid stimulus bill AND a 700 plus billion defense bill within two weeks. Governments are taking more debt which means they will have to increase taxes, and/or see rates at negative to service the large amount of debt. Again, this puts pressure on the currency. Cheap and easy money is here to stay. It will not stop. It cannot stop. The middle class loses in the end. This is why I have been warning that the trade is to be OUT of fiat currencies. Stocks remain the best way to beat the inflation and make yield in this world, but the truth is these gains can be useless if the currency is devalued. If you look at the Great Depression, stock markets in Germany and other nations were going up, but the gains were useless since it did not protect your purchasing power. Hard assets such as Gold, Silver and other commodities will be the way to protect one's purchasing power going forward. My followers know that I have included cryptocurrency to this list. This is what people like Ray Dalio and Stanley Druckenmiller are warning us about. We have not even begun to see the crazy monetary and fiscal policies, but one can predict and front run this. The other argument is that Bitcoin is the future, and corporations and institutions are buying it because of adoption. I would be careful about that. Many of you know my idea on central bank digital currencies (CBDC's). Digital money is coming in order to track and tax money. It makes sense that this move into Bitcoin could be frontrunning this reality. Technically, Bitcoin and other crypto's would be a way to hide your money from the government. But do NOT underestimate the power of central banks. They want to ensure they maintain the only power to issue currency. Sooner rather than later, they will begin to pay attention to this move in Bitcoin. Going back to the move out of fiat theory, this move in Bitcoin becomes worrying. It means something could be around the corner. Be careful. Why hasn't Gold or Silver reacted to this just yet? Banks can short the paper contracts. I do believe that banks such as JP Morgan have been shorting the paper markets. Honestly, other nations have an incentive to do so too. Lot has been said about China stockpiling Gold. If I were them, I would be short selling large paper contracts to keep prices low while stockpiling. Perhaps the shorts JP Morgan and other banks are holding are from clients such as China and other nations...they would do it through setting up funds overseas of course. Gold and Silver will have their time to shine. Onto the technicals of Bitcoin. A few weeks back, I presented my fib targets for Bitcoin. My first target at around 24,600 was important because it coincided with a trendline going back with multiple touches. You can read my analysis in my past idea linked below. This weekend we have actually hit my second fib extension. Flew past it in fact. Bitcoin has almost touched 35k at time of writing. If this week's candle closes above this extension, the momentum will continue. Now my followers know that nothing moves up forever. I also warn against the fear of missing out (FOMO). When you want to chase a move because you feel like you're missing out, you have missed out. Be patient. I believe a pullback will have to come eventually. When this does, I want to see how price reacts at the fib extension level at 32,100. Now I am not saying it could pull back this deeply, but I personally would love for Bitcoin to pullback to 24,600 which coincides with the all important trendline level. There is a possibility we pullback to retest previously breakout zone at 20,000 before continuing higher. This would be the ideal scenario as it would meet all our market structure criteria. The truth is that the momentum might just be too strong for a pullback that deep. Crazy times folks but this move in Bitcoin was predicted. This is the move out of fiat in my opinion. Higher targets are coming, but I would like to see that pullback first.
COINBASE:BTCUSD
by Uncharted-FX
Bitcoin BTC at these levels. Recharge or more pullback?I'd rather be long than short here but any pullback will be bought. 21M total, at least 5-10% of the initial coins are in test wallets lost forever. Every forgotten a password? Well with the private/publics keys (or nemonic phrase BU) , you lose it, you've lost your bitcoins to destiny. I'm going neutral here until the bulls proves their force after this, much needed, overbought relief. Hopefully, I'll be able to load up cheaper but waiting for dips on this rocket has been a challenge and I don't think it's going to get better? Don't bet the farm on this, it's just numbers on a distributed world wide secure ledger controlled by owners of the assets themselves.... humm...
BITSTAMP:BTCUSD
by UnknownUnicorn2413721
Gold to Make a 180% Plus Move in 2021! Price Above $3000!My long time readers and followers know my opinion on Gold, Silver, Bitcoin and other commodities/hard assets. You want to be in them due to the approaching confidence crisis in government, central banks and the fiat money. All of which are occurring right NOW. The trade is to get out of fiat, because the currency war between central banks means that they will all try to weaken their currencies in order to boost the economy and cheapen the debt. The Middle Class loses in the end. This is primarily my reason for why Bitcoin is spiking. Yes, it can be due to people front running a central bank digital currency (CBDC) but I believe this is rather a move out of fiat. Something I have been predicting for the last two years. Gold is regarded as a safe haven asset. Many classify it as a commodity. But to me, and many others, Gold is a currency. In Classical Economics theory, Gold is a currency. Gold is money. Gold has been money in any government regime. In a previous post last year, I mentioned how Gold making new highs against fiat's like the Yen, the Loonie, the Aussie Dollar, the Euro, the Pound, the Lira and many others (way BEFORE Covid was ever a thing) was the most important sign for us versed in classical economists. It indicated that inflation, and crazy monetary policy was coming. Now I am not saying we could predict covid, but the fact is, big money (maybe even some central banks) knew something was coming down the pipeline which would force central banks to cut rates back to 0, and resume Quantitative Easing. I remain very excited for Gold and other commodities in the long term. I want to share with you some technicals on Gold...which when last time occurred, led to a 180% plus move! Now first things first, I have to give credit where credit is due. My technical level is similar to that of many traders, but Christopher Aaron from iGold Advisor in his latest Youtube video, highlighted the fact that this pattern happened in the past and led to a 180% plus move. Thanks Chris, and unfortunately we cannot meet in person at The Vancouver Resource Investment Conference 2021, to further develop our outlook for the future like we have in the past two conferences. So let's take a look at the current weekly set up in Gold. A few major points to discuss here. First and first most, this 1800 zone is a MAJOR flip zone ( an area that has been both support and resistance). My arrows indicate how many times price has tested this zone. In my books, any level with more than 3 touches is super important and deserves your full attention. Now look to the recent price action to the right.  Price has pulled back to retest the 1800 zone. Buyers have stepped in and held. There are two very exciting things here which will make sense when we look at the similar pattern in a different year. Firstly, the retest is after Gold made all time record highs. Yes, the 1880 price zone technically is the retest which failed, but look at the multiple touches at our 1800 zone. To me, this zone has much more significance.  Secondly, the pattern we are developing is known as a wedge pattern. Notice how price respects the downtrend line. This pattern is bullish because it indicates price is coiling. As long as we remain above the 1800 zone on the weekly chart, the probability for a breakout is high. So how to play this? For a better probability trade, it is prudent to wait for a weekly close out of the wedge. Once again, because this is a weekly chart, it may take sometime for price to breakout. Just a reminder that patience is probably the most important characteristic in a successful trader. The alternative play is entering positions right now frontrunning the break. Your risk vs reward is better, but you have to accept the risk that price could do nothing, or even break below failing to trigger the bullish run. This approach would require a stop loss below 1762, below the retest of our major flip zone. This zone MUST hold for our bullish 2021 scenario. So once again, breakout above previous record highs, retest of a major flip zone, and a wedge pattern. Looking back in the Gold markets price history, we have a set up very similar. Get excited everyone. The chart above is the weekly chart of Gold back in 2007-2008.  So during that time, Gold did make a new record high before pulling back to retest a flip zone. Notice the multiple touches. Finally, notice the retest, and how a similar wedge pattern was created. All the criteria we see in our current weekly chart. The fundamental backdrop was similar: central bank money printing and the cutting of interest rates, plus major (crazy?) fiscal policy. Once the wedge broke, Gold made a 182% move (measured from the bottoming of the flip zone retest to previous record highs at 1920) using our ruler function on Tradingview. Some people like to downplay technical analysis, but the truth is that markets have a pattern to them and flow in cycles. What I like to call waves of uptrends, ranges and downtrends. Our job is just to find these cycles and wait for the shift. There is much more to do with psychology in charts, and an imperfect information environment, but this would go beyond the scope of this post. The truth is technical analysis works. And works quite well. For the Gold Bulls, this pattern is set to repeat again. Mapping 182% from the current support retest at 1762 to new highs...the Gold price goes well above $3000...actually much closer to $5000. So in summary: wedge pattern with a retest of previous record highs holding as support. If this wedge breaks, we are set to repeat a major percentage move with the same fundamental backdrop! I would say much more extreme this time around! The confidence crisis begins! The trade out of fiat will be the theme of 2021. Oh and for my Silver Bulls how could I forget you (me being probably the biggest Silver bull)! When Gold made this large percentage move post 2008...Silver went from $15 to $50. New record highs incoming for Silver as well!
FX_IDC:XAUUSDLong
by Uncharted-FX
2
The Swiss Franc: The best FIAT currency in these troubled times?In light of the tragedy facing the international monetary policy, people who understand debasement know that it was the fall of many empires. From the Romans to the Middle Age Bankers. Bankers overpromise and underdeliver. In all the countries on earth Switzerland and China are the two currency likely to do well as the US loses its dominance by over-borrowing off the back of the World. Once the US is no longer able to sell its dollars to other countries, the world will be seeking safe heavens. On the FIAT side (unbacked by anything except the might and sovereignty of the country behind it), the CHF stands out here. The pattern is a descending triangle and indicates there will be a breakout for the Bull or Bears. I'm short the USD and reallocating all my assets out of the US until there's an indication that the US dollar bull is still alive. I think the USD is a zombie and it's such a monumental thing that everyone wants to ignore it for the most part. The world will reallocate assets outside the US for the time being. Why compete with the US Fed with your cash? They print the stuff with worthless IOU that conventional investors still believe in. It seems we need to get ready for hyperinflation. Reallocate to safe asset classes. CHF might be one of them if you think currency backed by nothing is still worth something. The Swiss hold 70% of their gold reservers on their soil. 20% is held in England and the other 10% in Canada where the Canadian MINT announced in November 2020 that will not secure it's MNT ETN! That means starting Feb 2021, if you own "paper IOU" from the Canadian Mint, they won't be able to delivery if there is "force majeure". 2021 might just be the year of "Force Majeure" As a side note, the Canadian Central Bank is the only one in the world without any more gold reserves, why: Speculation: Canadians are generally very honest. So the bankers report the actual gold held.It's a good thing Canada has no gold because it can't defend it against its neighbours. Other countries oversubscribed, loaned, sold their gold and there is no third part audit. I trust Canadian and Switzerland with its backing of its currency and between the two, the CHF is the safer FIAT IMHO.
Short
by UnknownUnicorn2413721