“A round of applause for Bitcoin [BTC], if you don’t mind!”
Remarkable that BTC has remained well bid during the latest coronavirus
pandemic … the smartest guys in the room had assured everybody a few weeks
ago, that BTC was headed a lot lower, with some suggesting outrageous levels on
the downside … here in a few months [May to be exact], BTC goes through another
“halving”, meaning the amount of BTC “miners” get to verify the block chain of
transactions gets cut in half … all other times have seen price explode after a
“halving”, so it’ll be interesting to see what the later part of 2020 looks like.
No doubt, though, given the profligate nature of central banks & governments to
print “QE funny money” and inflate fiat currency, more & more people around the
world turn to crypto to “save themselves” from government … and quite frankly,
over the next 10 years, crypto will explode like you’ve never dreamed of, and while
I used to think John McAfee was nuts for predicting BTC at $1 million dollars per
coin, the more I study the dynamics of the crypto space, the more institutions
adopt BTC as an asset, the more I’ve come to believe he may in fact be right
… and while it’s not gonna happen tomorrow, there’s no question the U.S. Dollar
is on its last legs as a reserve currency … that job will move to crypto as sure as
I’m sittin’ here.
Today sees a somewhat slow range day in BTC … not much going on, but I
would note it’s doing well staying above $9K, and is well bid … until tomorrow
mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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