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RE: As bitcoin reaches new highs, Is it good news for the world? Or is it just the canary in the birdcage?
Very good article because Russia and China just renewed their currency swaps agreement for another three years. To avoid trading in the petro-dollar.
https://www.rt.com/business/408305-russia-china-currency-swap/
As for crytocurrencies, investors are buying into it has a hedge and long term investment. However I feel it went up too quickly so that indicates loss of faith in the fiat currencies and commodities.
I think there will be a pull back after the spit, but then more uptrend