First so we all understand, historically bitcoin falls when the US dollar rises and Bitcoin rises when the US dollar loses momentum and starts either chopping sideways or falls.
Japan is now selling US treasuries to prop up the Yen and China will start doing the same as the Yuan comes under pressure, which it already is. China and Japan are by far the largest holders of US treasuries in the world therefore they have the ability to add massive selling pressure to the US bond market causing US treasuries to fall faster which should lead to the US dollar rally losing momentum (no one wants to hold dollars if the Chinese government is selling their $1 trillion dollar stock pile of US treasuries).
As the dollar rally loses momentum the world will be looking for an exit out of the dollar and into any other safe haven they can find. With bitcoin being down 70% from its highs and with a market cap 1/20th that of gold it looks extremely attractive if it is infact digital gold. So expect a meaningful percentage of safe-haven-seeking capital to make its way into bitcoin.
Its at this point bitcoin catches its first safe haven bid during a global currency crisis ever. This is when the bitcoin price shocks the world to the upside. In the midst of currency market chaos bitcoin will be printing green weekly candles in the thousands of dollars and a move back up to 2021 highs could happen extremely fast due to bitcoins absolutely tiny market cap relative to the currency markets and global bond market.
2023 will be the year bitcoin explodes to the upside so fast people will miss the opportunity if they blink.
Submitted September 26, 2022 at 12:52PM by slvbtc https://bit.ly/3LIu7IG
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