Good morning everyone.
Feeling real rested today went to bed around 730-8pm last night. As im writing this bitcoin is around 23,100$ gold is sitting around 1880$ and silver is 25.80$. This year was a WILD year.. it was a printing press. The treasury has printed nearly 24% of all USD in circulation THIS YEAR. Many are not aware of what is going on with this printing and unsure exactly to what this means. Some people like Peter Schiff believe we are heading towards inflation which i must agree on. Where as others like Jim Rogers believe we are going towards deflation. Either way all this newly printed money has a direct correlation with gold setting an ATH (all time high) along with bitcoin. What is also interesting is that stocks during this time are at an all time high. The dow is sitting above 30k for the first time ever.
The research that ive conducted indicates these numbers look great on paper, but in reality no one is generating profits other than 5-10 of the major businesses. Unemployment rate is at its highs, more money has been printed than ever, everything is closed, real estate is down, all this leads me to believe that the dollar is going to be de valued even harder as the next few years come. I continue to track gold and am a gold bug myself, along with silver and bitcoin. I see gold as the old mans investment to hedge against inflation, gold doesn’t usually get a person wealthy, owning gold preserves your wealth. Silver interests me as we enter a new era of presidency. Having a democratic president may push silver towards its high of 50$. Green energy, EV and the green new deal may pump silver towards that 50$ mark real soon. you can buy silver eagles for as little as 30$.
Coinbase is going public. Coinbase tried to confidentially file there s1 to go public on Wednesday. Coin base based out of California launched in 2012 and has 35 million users in 100 countries. Coinbase holds around 25 billion in assets and more than 320 billion in total volume traded. I am not sure what the outlook of the stock will be, its launching price etc but i believe it will do well as the time goes on and bitcoin becomes more popular. Would a buyout possibly happen? Rather than apple, amazon, or Microsoft getting into the mix and purchasing bitcoin from an exchange why not acquire an exchange of that caliber? Seems like a conversation that’s not too far out there.
I want to add this last interesting take i found, ALL talks from bitcoin being used for only the dark web have stopped. I never hear that conversation anymore those days are long gone. Also bitcoin on Wikipedia searches in 2017-2018 was around 150k page views at peak, its currently at around 7500 page views. BTC breaking its all time highs is less popular on twitter according to the numbers than it was in earlier November when it made moves. Lastly there have been more google searches when it halved in may than this weeks all time high. This is a great sign for bitcoin bulls because usually when retail FOMO kicks in, blow off top is near.
have a great day everyone, see you tomorrow.
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