RE: Next Stop For Bitcoin $5,000 and Beyond. By Gregory Mannarino
This is the most incredible time period in human history over the last 100 years. We're witnessing massive bubbles forming in almost every asset imaginable regardless of whether that asset is tangible or intangible. The biggest take away from this is that the republican presidency is a sign of a declining dollar. I've outlined this previously on my blog, but here it is again in case you haven't seen it.
Notice how i've marked the various drops in the DXY index with A,B,C,D and E, these corresponding annotations are for the following presidents:
A. Richard Nixon
B. Ronald Reagan
C. George Bush Sr
D. George W Bush
E. Donald Trump
Notice the trend for each republican president? We could very well see the next dollar drop during the Trump administration (identified as 'E' in my graph) and could very well see the next recession around the corner.
What does this mean? Well, depending on your favorite method of asset allocation, it certainly means that buying cryptocurrencies is a good alternative, but Greg, I agree, we should see a correction in Bitcoin and I'm hoping it happens soon, it's a good opportunity to buy the dip and hold long term as we enter bear market cycles and potentially even a war cycle into 2021. As Chinese and Japanese investors look for more ways to allocate their capital, Bitcoin and other cryptocurrencies (especially Steemit as it is backed by a visible online community) will begin to see rising new highs on a daily basis.
I've always thought it's a huge mistake for the American people to lay the success or failure of the economy at the feet of any President. It's Congress who's been robbing us all blind for the last 100 years. Reagan looks to have broken your trend. And, you could say that Clinton came in on the former fiscal policies which were put in place by the Republicans before him.