Countries Are Leaving The USD Standard, They Need A Bitcoin Strategy
As dedollarization accelerates around the world, countries like Russia and India better have a bitcoin accumulation strategy.The below is a direct excerpt of Marty's Bent Issue #1126: "Dedollarization accelerates." Sign up for the newsletter here. via Al Mayadeen Above is an excerpt from an article published in Al Mayadeen yesterday morning that highlights another domino falling in a trend we've been following for years in this rag; countries deciding to conduct foreign trade in their native currencies instead of using the dollar. In the past, most of the focus has been on energy trade....
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To think through how bitcoin will replace the U.S. dollar, we must first turn to the dollar’s own journey in leaving a gold standard.
The fiat standard has drained the value out of more than just money, leaving family units a weak shell of their former strength.
Bitcoin is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....
We are returning to our breakout strategy for our intraday bitcoin price trading efforts today. Here's what you need to know. Last night, we set up a little bit differently for the second of our twice daily analyses. Rather than outline standard support and resistance, we looked at an upward sloping triangle that offered us the opportunity to get into the markets on a scalp trade position, and use that to draw a sharp, decent downside profit. Action is now matured overnight, and our scope trade worked out just as we had hoped. Price broke shortly after we published our strategy, and....
In this morning's bitcoin price watch piece, we noted the levels that we would be looking at for today's session. We slated quite a wide range (about $10 versus our standard $4-6) meaning we could bring our intrarange strategy into play, in combination with our standard breakout strategy. The European session has now matured, and as we head into a fresh Asian session this evening, what are we looking at and how did today's strategy play out? Take a quick look at the chart. As you can see, we have slightly altered today's range to accommodate the bitcoin price action seen during Europe. We....