The last 3-4 month rally in bitcoin has come with a strengthening dollar. These types of relationships are not sustainable and eventually the dollar gets too strong for a "risk on" asset like crypto. I think we're starting to finally see a correction in bitcoin this week and I think there's still more downside left.
I think he is right, and in fact a super surge in the dollar could lead to a total meltdown in bitcoin. And bitcoin has shown itself to be a leading indicator of what the sp500 will do next. So bitcoin crash first and then the spx.
How wrong could some be? Very wrong. Your thesis is flawed. Are you aware how much dilution is happening to your US $ ?
US Debt increased by 16 BILLION again last week . Now at 28 TRILLION and 63 BILLION. 28,963,390,000 and climbing . 29 TRILLION 500 BILLION by year end and 30 BILLION debt in by Jan 2022. That is why BTC will be 70-100 thousand by Dec/Jan ... Debt rose 2 TRILLION in past year... Bitcoin was around 30,000 Jan this year. Do the math. National debt to BTC. Nov 14 Comment: The US debt has risen 16 TRILLION dollars since 2010... average 1.45 trillion a year. This past year we are now a rise of 2 Trillion a year. Bitcoin was .30 (30 cents) in 2010. Printing US dollars for social programs so people do not have to labor and passing more and more debt on to future generations, is why BTC has climbed and will continue to do so. The same US greenbuck in 1932 at .02 is worth 1.00 today. Nov 14 Comment: I used to be a fan of the greenbuck but I am afraid every 100 years there is a history in currency change. 1932 to 2032. Us Dollar from gold standard reset.
Don't think we will ever be able to go back to the gold standard. Gold was 32 in 1932. Gold would have to be 64,000 oz today to match 1932 and the dollar value depreciation.
Strange we are finding BTC at 64,000 a coin today!!