There was a time when leaders were in a position to lead because they were the absolute best person for the job and they had the skills and knowledge needed to navigate the complexities of leading something – such as a government or company.
Those days are long gone. Now you can lie, cheat or steal your way into any position with enough friends in power to make sure you get there. The unfortunate outcome is that you have complex decisions being made by people that are barely qualified to scoop up lone shopping carts at your local grocery store.
And again – why is that important? Because they are destroying our lives and destroying our economy. The economy part is where we come in, as we are Traders of all Markets. An economic collapse can easily be on the horizon. It was creative staved off for a while and measures could have been put into place to prevent it but Stupid is as Stupid does, unfortunately. The bigger issue is that an American collapse affects every country, it’s not just isolated to America.
Now, what does this mean for Crypto?
Well, another Million Dollar Question…
Let’s say that the American Government continues to fail, let’s say the centralized global powerhouse banks continue to ride their greed train and let’s say that investors no longer feel safe investing in stocks… The usual play is to slide money into Gold. Gold is another story for another day but what a crooked and deceitful market that is. Anyway, Gold Pumps while the market Dumps. Fair.
But what about Digital Currencies? There was never an avenue for investors to easily point to Bitcoin and say BUY THAT instead of Gold. Now there is. Bitcoin beats Gold in just about every possible comparable category. It would make sense that investors would scoop up an asset that can give them 50-100% gains as opposed to 3-10%.
The Bitcoin parade would be something that no one has ever witnessed before in their lifetime. So, there is a chance that the world economy collapses, the energy crisis takes over, the middle east becomes the superpower, along with China and Russia and Bitcoin becomes the Global Currency. This is a path that has been a dream of certain administrations and politicians dating back 40 years, likely much longer than that.
Bitcoin hit 50K earlier this morning and trying to stage its next move. all eyes on the MCAP which exceeded 2T just the other day.
On the move:
Will SHIB pullback after pushing 88% in less than two days? If it does, we have some levels that look really good. However, when these things fly, sometimes they get no pullbacks at all – they just continue to fly. This is where entering on lower timeframes after smaller pullbacks can work very well.
LUNA has also continued to impress. We have some upcoming resistance which could lead to some really good buying opportunities for a continuation play.