BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The volatility of Bitcoin on anything less than a 4H chart, hides its path of momentum. On this monthly chart I show what I see. Move chart to left to see more. The path is more probably up in the long term based on monthly momentum. In my hypothetical $30,000 is possible - but I make no predictions. I previously made other speculations.

If we hit a 1929-type depression in the next few years - and fiat becomes meaningless as in 1929, what will we use to exchange value? I think it could be Bitcoin - or possibly some other crypto(s). I can't say it won't be Ethereum .

Some argue that 1929 is gone and the scenario would never happen again. I'm not so sure. When I look at the factors that contributed to 1929, I'm seeing them right now as the COVID-crisis evolves.

This post does not mean that you should rush out and purchase or invest in Bitcoin or cryptos.

Disclaimers: This is not advice or encouragement to trade securities. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Tip of the day: if you're shorting anything do it at the peak of something to minimise risk of being scalloped. [Different perspective on the virus]


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