the noon wall report
Bitcoin is showing marked resiliency as legacy markets correct moderately from yesterdays sharp gains. Tomorrows Jobs report is likely to show continued retraction in the US and global economic outlook. Record unemployment numbers are also forecast as the Covid19 pandemic shutdown continues to show effects in all sectors of the economy.
Rioting in the USA over the senseless death of George Floyd has diminished and has been replaced with mostly peaceful protesting over racial inequality. An often heard cry in this great nation that unfortunately gets unheard and unredressed by society.
What does this have to do with bitcoin you ask? Everything I say.
I believe bitcoin was conceived and created in the fires of such a financial crisis. It rose and clawed its way into existence exactly in such a time as now, with unchecked government spending(read bailouts) and the added fuel of central banks imposing negative interest rates upon an already burdened populace.
Bitcoin has been showing maturity for the first time in its young life..its divergence from legacy markets..its quality and its viability as an alternate to fiat. Through these days bitcoin has had its shocks..as we all have. Despite that it has continued to perform as it was designed and I dare say exceed expectations both from a technical and a subjective view. Yes, it still continues to be a shallow pool where even moderate sized whales can easily agitate the surface and cause waves that widen the eyes. For the record I neither approve nor disapprove of such actions. That is the beauty of bitcoin..they are yours to do as you wish..when ever and however you want. I love that about bitcoin. Volatility remains high and will likely remain so for years as the market seeks depth. I think we will see a 5x to 10x increase in market cap over the next 4 years..with further potential of 30x or more in the following decades. Its hard to imagine after 10 years we are still only seeing the end of the beginning.
pole vaulting can be pleasant to watch..who knew?
4h
accumulating and buying of the dips..yes...this is good
D
10 years in and the monthly shadows and clouds begin to have resolution
M