Listen now | The US dollar is on a bull run, sending every other asset into freefall. And it's at a particularly critical point right now, says Dominic Frisby. Here, he looks at where things stand, and what might come next.
He thinks Bitcoin is in a bear market, but just bottom of it's current channel and will now rise to 58k in September. A .702 Fibonacci retracement. Which time and again the markets/universe seem to favour.
What I don't get is we have seen the explosion of printing money in the last two years. From 2008 to 2020 it was under $ 4 trillion and then jumped to $ 21 trillion. Yet the dollar remains strong? Surely they will be a crash soon?
For the small investor the good news is that we can easily buy dollars in the form of stable coins. I have been riding out the crypto bear market with 15% of my portfolio in UST which is by far the best of the stable coins. (Check out the Terra project for information.) The great thing about UST is the staking rewards are huge, 15-20%. So you stake your coins, and receive daily interest. I am getting on average £5.50 a day on my modest investment. I can get my coins out with 24 hours notice so plenty of time to catch the next bull market. And its so easy even an IT illiterate like me can do it. I’m amazed this hasn’t gone mainstream yet.
Blockchain Backer all over the DXY analysis and predicted Jerome Powell's speech would be the turning point.
https://twitter.com/BCBacker/status/1521925636348162053?t=5AnvJemJcF-R6jG-81EAMw&s=19
He thinks Bitcoin is in a bear market, but just bottom of it's current channel and will now rise to 58k in September. A .702 Fibonacci retracement. Which time and again the markets/universe seem to favour.
What I don't get is we have seen the explosion of printing money in the last two years. From 2008 to 2020 it was under $ 4 trillion and then jumped to $ 21 trillion. Yet the dollar remains strong? Surely they will be a crash soon?
For the small investor the good news is that we can easily buy dollars in the form of stable coins. I have been riding out the crypto bear market with 15% of my portfolio in UST which is by far the best of the stable coins. (Check out the Terra project for information.) The great thing about UST is the staking rewards are huge, 15-20%. So you stake your coins, and receive daily interest. I am getting on average £5.50 a day on my modest investment. I can get my coins out with 24 hours notice so plenty of time to catch the next bull market. And its so easy even an IT illiterate like me can do it. I’m amazed this hasn’t gone mainstream yet.
Still feel the same way?