The US Dollar Value Hits Multi-month Lows, as Bitcoin Nears $3000. By Gregory Mannarino
The US dollar continues to show its true colors as it bleeds off purchasing power, meanwhile cryptocurrency's are surging higher.
Today Bitcoin hit a new all time record high breaking above $2900, a trend which will continue.
The action that we have been seeing as of late with regard to the US dollar should be a clear sign of lack of demand for the dollar in a failing economy. With money velocity, that is the rate at which cash is moving through our economy, near historic lows it is easy to see that there is in fact no sign of a recovering economy here in the United States despite what the mainstream media and their corporate governors want you to believe.
The falling dollar value occurring simultaneously along with surging cryptocurrency's is an "in our face" sign that the Smart Money is diversifying away from the dollar.
Not to be ignored, is the recent high demand for both physical gold and physical silver, again a sign that the Smart Money no longer believes in "king dollar."
With regard to the US dollar, the writing has been on the wall for a very long time however, the recent surge in the value of cryptocurrency's, who's market capitalization has now reached over $100 billion, should serve as a clear sign that the US dollar is not where you want to be.
Gregory Mannarino
Excellent correlations Greg... Keep Up the Great Guidance !!
Have a Great Week !!
There are some crazy opportunities in cryptos and precious metals right now. Stratis, Sia, Waves for cryptos - Sia is at $0.02 a coin. Stratis I think is at like $10.70.
And of course, silver the most undervalued asset.
Anyone else think it's funny Nigeria's stocks have been the best performing assets all year? Booming stocks do NOT equal a healthy economy! Don't believe these clowns on CNBC. Thanks for some great insights as always Mr. Mannarino.
Up voted! Yes it's not hard to believe that crypto's are doing as well as they are. People in the know are tired of all the manipulation and basically rape that goes on in the financial world. I wonder what's going to happen in the world of crypto's when the other 99% that aren't in the know catch on and start buying, trying, and investing in it?
You mean when the other 99.9% wake up to Cryptos - the cryptos are brand new my friend. I have asked several people I know over the last few weeks, "Have you heard of Bitcoin?" The reply is, "No." And they do not even follow with a question of inquiry like, "What is that?" Along with that fact is this; The big Corporations are soon to be pouring many more millions into the Cryptos with each passing month - That especially goes for Ethereum, because it has so many uses for the Business world to come.
My thoughts exactly! Good points. I do need to check out Ethereum a bit more as I'm lacking to how it stands against or with BTC?
Great info Greg. Thanks again for introducing me to steemit. ROAR
Yes, the writing is on the wall. I can't hardly believe bitcoin is above $2,900. Thanks so much for getting me into Steemit.
Greg: you were one of the first people to really open my eyes years ago to what was taking place in the financial world. Friends and family have been calling me chicken little, Mr. negative, and a lot of other very uncomplimentary names for years because I have been trying to warn them about what is coming. For my own sanity I quit the discussions with most people. That normalcy bias is a brutal thing to over come. I really believe we're in the thick of it now and the sheep better wake up. The hour is late.
At least greg got me into steem without having to invest a penny
STEEM SBD at $2.00+ as well at present! Thank you Brother Greg for the daily cutting edge updates and advisement! @marketreport www.traderschoice.net
Yes, and gold is heading towards the magic 1300. Just as you predicted lately. Steem has already overtaken the Euro (by far). Crazy times...
Since many cryptos must be first converted to BTC, I would say stick with BTC.
That's a fine way to look at it...keep doing that if that's what works for you. BTC is the onramp to the rest of the space for sure...However, once you've made an obscene amount of wealth in BTC, then it becomes logical to diversify. Coin ICO's are a way for normal people to participate in a space that was previously off-limits to normal people..venture funding. I find that VERY exciting, because I've been an investor and trader my whole life and have never been able to do venture capital. Yes many ICO's will fail....just like in any VC deal. But there are some very interesting projects out there, and it's great to be able to participate in them.