April 16, 2020
Bitcoin is a stateless, politically-neutral, universally inclusive, disinflationary, and uncensorable currency that is bound to impact the nature of inter-governmental relations. After 11 years of development and hardening, Satoshi Nakamoto’s digital money is more than ready to disrupt international power structures and put the final nail in the coffin of colonialism.
For the first time in history, small and historically-oppressed nations have the opportunity to break away from the chains of global financial institutions, renegotiate their status on the world map, prevent and overcome crises, and bypass trade restrictions at will. In order to accomplish this series of ambitious goals, developing nations need to embrace bitcoins as a reserve currency. To further increase the national sovereignty and freedom of the state, citizens should also be encouraged to transact in BTC and even use it to pay taxes.
By now, a lot of people have heard of Bitcoin. It’s been running consistently for just over 11 years and has enjoyed it’s fair share of positive and negative media attention. Many eyes have been on Bitcoin since the bull run of 2017, with people eagerly awaiting its next big moment, and we believe that this moment is coming, especially as 2020 is shaping up to become its most significant year yet.
Events impacting Bitcoin this year — the halving, proving itself as a safe haven asset, quantitative easing, businesses emerging from the crisis, regulation changes and technical upgrades — all individually have the potential to change its path forever, but all combined at once and no one is going to want to look away.
Central banks inherently have a data problem. There’s an ingestion, processing, decision bottleneck — same as any electronic signal processing system. An economy cannot be planned by a central authority, because there is no way that a central authority can have all of the necessary knowledge to make the best decision at any single point in time, let alone all points in time.
Since the beginning of the economic crisis that has been sweeping the world, the Fed has been on the move. The prestigious institution created in 1913 took several historic decisions during the month of March 2020. The Fed began by lowering rates by 150 basis points in two steps. This spectacular cut brought interest rates to zero.
The taboo of zero rates was thus broken in barely two weeks. These decisions then paved the way for an easy money policy that the Fed officially announced on March 23, 2020. On that day, the Fed announced that it would conduct an unlimited quantitative easing program in the coming weeks to support the U.S. economy.
Since the start of the coronavirus pandemic, assets, bonds, stocks, and fiat currencies across the world have dropped substantially in value. But as the crisis deepens, people from different generations are starting to realize the true value of Bitcoin.
Robert Kiyosaki, the author of international bestseller ‘Rich Dad, Poor Dad’ has promoted Bitcoin for two days in a row on Twitter.
Robert called Bitcoin the “people’s money” on April 1 on Twitter. He restated it again today that people should “save gold — god’s money or Bitcoin — people’s money” due to rampant money printing reducing the value of US dollars.
Bitcoin started the year at around $7K. Buoyed by the risk of war between the United States and Iran, then by the coronavirus, and finally by a positive sentiment with the third Halving in its history approaching, Bitcoin saw its price exceed $10K on February 9, 2020.
Quickly, some people got excited. I saw a lot of people saying that Bitcoin would never go below $10K again.
Of course, it did not. Bitcoin follows its own rules, and evolves at its own pace. Forty-eight hours after the $10K drop, Bitcoin was back to around $9,600.
Bitcoin then crossed the $10K again a few days later. The technical analysis specialists immediately saw a golden cross in the evolution of Bitcoin price. Generally, this candlestick pattern is a strong bullish signal in the short term.
When it comes to bitcoin adoption, there are generally two rules that never seem to fail. Everyone always feels late, and everyone always wishes they had bought more bitcoin. There are exceptions to every rule, but bitcoin has an uncanny ability to screw with the human psyche.
It turns out that 21 million is a scarily small number, and it actually becomes smaller as more individuals come to understand that the fixed supply of bitcoin is credibly enforced and that monetary networks converge on a single medium.
The euphoric end of year for the Bitcoin in 2017 will have made thousands of people dream. Attracted to the market by their greed, many people invested without counting when they had no idea of the world of cryptocurrencies. The result was catastrophic for many of these people.
The year 2018 with a prolonged bear market was the consequence of the end of 2017. In order to prevent newcomers to the Bitcoin’s world from making the same mistakes again, Misha Yurchenko has written the book “Bullish on Bitcoin” which details 37 strategies that will allow you to take advantage of Bitcoin but also of the new cryptocurrency economy in a more global way.
In this book, you will learn to control your mind to act as a trader and especially control your emotions as well as possible.