US Dollar at 16 months highs — as other currencies around the world get “hit” — time to move to Bitcoin
Source: https://www.zerohedge.com/news/2018-10-24/dollar-spikes-16-month-highs-euro-drops-rand-routed
Who cares about the US Dollar going up?
Answer: the rest of the world
Does the Euro like it ? Nope
Do Emerging Market Currencies like a strong dollar — no way!
So what does that mean ? It means people who have Euros and Emerging Market dollars are “worth less” than they were.
Which means your paper fiat money buys less.
So how long do you sit there and watch your currency devalue before you say “what can I do”?
Is there another way? The Market was down 600 pts today — is there an asset class that is “uncorrelated” that has nothing to do with the market and is a “hedge” if my paper fiat dollars erod like what happened in Venezuela?
How many people are looking at the 9.5 month Bitcoin bear market and have some idea of all the incredible news this year?
It’s not the individuals. It’s the institutions that will be looking hard and will want “hedges” to park some money.
The US Dollar will contiunue to be the strongest currency —- until it drops as well. How long? Who knows.
But I think you are starting to see some changes.
Yes it is a good time to move to BTC especially if you hold USD as it is on a high
US$ at a 16 month high?
I don't believe that.
I believe that the US$ is at a 16 month low.
Its just all the other currencies are doing worse.
If this keeps up, expect bitcoin prices to skyrocket, while bitcoin sits still.
Take a look...16 month high...and yes the other currencies are indeed weaker.
I look at all financial charts while tilting my head to the left.
All i see there is bad and worse.
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