Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
STT
on 20/09/2024, 18:14:50 UTC
⭐ Merited by JayJuanGee (1) ,d_eddie (1)
Im more for the usage and basic base population in BTC rising, it is true most people dont keep savings or investments especially.  Some would argue they invested in education to later gain, still its alot of debt on average in the west not capital.   Theres the housing market or possibly pensions, those two are the most common savings of a kind for people to use.

Theres also life assurance policies and other types of saving, trading and investment but its become fairly rare.  Nixon's order could have been been nullified if the people had taken over and just held gold instead of dollars but they dont so the gap between the two is gigantic now.

Theres been net buying in Gold for a couple decades, so some countries like India China populations do hold some but mostly its central banks which are responsible for that long term trend.    China and Russia both see gold as a means to usurp dollar influence globally.  Its hard to say what will happen apart from an obvious value decline in FIAT continually by necessity now due to deficit budget spending.

Gold is a commodity, it has no yield so I would be picky and state its more speculative then a mainstream investment.   It has no decay, so its superior to normal commodities but its still the same difficult market variable spiky price to trade and hold.   This is part of why gold is unpopular, alot of patience required but its clear theres benefits eventually.

   BTC I would compare to that, its not used enough, deployed for yield etc. so it can resemble the spiky commodity markets. So long as its increasingly used I'm positive on it.   I always hear outside of USA or the west of a dollar drought, the inability to access global commerce through illiquidity restricts business.  As an outsider to developing markets thats hard to understand so well, but maybe it means we need more alternatives to politics and FIAT.

65k+ on a weekly close I'm looking for something to happen, as rising further now would be a positive break to a negative 6 month sequence since March.  The inverse scenario is a failure at this point and I think more repeats, which I believe we are making lower lows.  Im looking for resolution but also for things to get messy with greater volatility most likely first off.

BTC is over a trillion now, we perceive 6 months as a long time when its just 1 giants foot step so we might end up waiting alot longer still tbh