The Aussie dollar is getting a boost from stronger commodity prices. Recent price rises have helped push the dollar higher. The Aussie dollar has had a strong start to the year. However, it may be more cyclical than anything to do with the underlying strength in the Aussie dollar.
Today’s article was originally published on 17 November. At the time it was written, the bitcoin price was AU$10,287. Today it’s a lot higher. As you’ll read, money is changing. And global adoption is about to explode. You can’t ignore this…
Five days ago bitcoin passed the British pound and became the 6th most circulated currency in the world. It’s difficult to comprehend the scale of this crypto revolution. Particularly the incredible speed that digital assets are growing.
I say it’s time to move on to trust in something else. Not backwards to gold, but forwards. To a trust in indisputable maths. A trust in decentralised power structures. And a trust in technological innovation. That means bitcoin and cryptocurrencies.
Each year millions of traders are fixed to their screens. They’re looking for trends and momentum in the forex market. According to the Bank for International Settlements, the average daily value of forex is around US$5.3 trillion!
If gold price breaks through US$1,370 it could indicate the start of a new long term uptrend. And this is why it’s rising. The real story behind gold’s rise — and the biggest financial story you’ve never heard of this year — is the declining US dollar.
Analysts are now pessimistic for bitcoin’s future in China. The Chinese government’s views on digital tokens has escalated quickly. They want to ensure financial stability within their market, and they see cryptocurrencies as a market distributor.
Bitcoin should always be discussed first and foremost as a currency. The end-game isn’t seeing one bitcoin worth half a million dollars. The goal is to make those half a million dollars seem as alien to the everyday consumer as one bitcoin is today.
It all started with China. Bitcoin is now down 46.1% for the month of September. The most recent decline comes after one of China’s biggest crypto exchanges said it would shut down its operations.
The truth is it’s ‘bank hunting season’, and has been for about a decade now. And it’s not going to stop any time soon. The very existence of bitcoin and cryptocurrencies threaten the entire system. It challenges them with the fact that elitist greed and excess has an expiry date.