DON’T QUIT WHEN IT MATTERS: Bitcoin Is Set To RALLY!
Tens of millions of investors and traders are seeing the exact same events, but they will each put a different spin on them. Bitcoin is holding steady at the $10,000 level and gold is maintaining $1,500, but the corporate-owned media will tell you that they’re stalling out.
That’s completely the wrong way to look at it. I promise you, no asset price goes straight up without taking a break to consolidate the gains. You can’t expect gold, for example, to go from $1,150 to $1,550 without traders taking big profits, as some are doing now.
The fact is that the global risks to the economy haven’t been fully priced in to gold yet. When all of these factors inevitably take their toll on the Dow and NASDAQ, safety plays like gold will skyrocket further.
The U.S. dollar was unusually strong in 2018 and for much of this year so far – an occurrence that’s holding back the price of gold, silver and Bitcoin. President Trump directly accused China of being a currency manipulator when they suppressed the yuan, and he’s made it crystal clear that he wants to retaliate by making the dollar cheaper:
The options and futures markets – which are considered the smart money compared to most retail investors – are placing big bets on gold’s imminent rise against the U.S. dollar. Central banks around the world – most notably Russia and China – are also stockpiling gold because they know what’s coming and they’re preparing for big changes to the global economy.
But gold isn’t the only viable safe haven; Bitcoin has gained a lot of attention with its meteoric rise from $3,500 to $13,500 in just months. The retracement to $10,000 was to be expected as a necessary pause in Bitcoin’s massive comeback, which is really only getting started.
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Bakkt launched their Bitcoin Warehouse for the storage of customer deposits and withdrawals. This will be as revolutionary for digital assets in 2019 as the invention of the ATM was for the banking industry back in the 1980s.
The trajectory is up for digital assets – take a look at the rise in the Bitcoin mining hash rate, which just printed a fresh all-time high. It’s an unmistakable sign that the demand for cryptocurrency is increasing.
It won’t be long before these catalysts push the prices of safe havens up dramatically – they’re pausing now, but only to prepare for the next round of stunning gains.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.Please read our full disclaimer at PureBlockchainWealth.com/