Bitcoin is "One of Us"
Happy Bitcoin Week
Sixteen Halloweens ago, we received a special ‘trick-or-treat’ from Satoshi Nakamoto: the Bitcoin Whitepaper. On that same day, centuries earlier, Martin Luther nailed his 95 Theses to the door of the Catholic Church.
COINCIDENCE? I THINK NOT!
So, Happy Currency Reformation Week to those who celebrate!
Bitcoin Is One of Us
One of us. One of us. One of us.
Bitcoin really is just one of us.
It just wants the election to be over already.
Despite current narratives about which presidential candidate is ‘pro-Bitcoin,’ every election resolution—Democrat or Republican—has ignited the next leg higher for Bitcoin. So why would I expect this time to be any different?
I’m a perma-optimist (for reasons I won’t get into today), so I refuse to believe people are as consumed by the election as the media makes it seem. After all it’s literally media’s job to make every election feel monumental, so you consume their content.
Humans naturally tend to think their own time in history is the most pivotal ever, and that’s okay. When it comes to the markets, though, I agree with Bitcoin: let’s just get it over with and move forward.
Captain Obvious
Yes, you can call me Captain Obvious here, but expect shenanigans and volatility leading into the election. Bollinger Band Width is in a period of contraction (lower volatility) which tends to lead to expansion (higher volatility). But remember, time is the enemy of volatility, as things tend to settle over time.
I hope we can all take a page out of Bitcoin’s playbook: stay patient through the volatility and find success, regardless of which political party is in power.
I’m watching for a breakout above the March highs to spark the next leg higher.
Cheers,
Larry
