Bitcoin may have paved the way, but the blockchain technology it’s founded upon is free for anyone to use. Blockchain technology is here to stay.
The digital coin jumped 35% in the last five days after dropping more than 21% in the four days prior to that. Bitcoin now sits close to US$8,000, up 694.9% for the year.
At time of writing, one bitcoin is now worth more than AU$10,500, and it represents a new all-time high, following a massive 43% rally in just five days!
Amazon is set to take over the retail and logistics world in Australia. Whoever recycles and supplies cardboard boxes must be ready to mint a small fortune.
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.
If you’re so well prepared you already have Christmas covered, you’re not going to like what’s coming next. The problem with being too well prepared this year is you’ve not allowed for the Amazon effect.
Fred Wilson, early investor in Twitter, even said, ‘The lesson from the internet is that anything China bans, invest in.’
Unless we’ve reached some magical equilibrium point, a world where strong economic growth can live with low interest rates and low inflation, something’s got to give. I think next year it will all kick off.
Bad debts are at historic lows, and it’s proving a big windfall for the big four. But you have to think, if house prices had gotten so high and had the consumer stretched to breaking point, you’d expect bad debts at the big four to be rising, not falling!
ASX 200 looks to have just experienced a ‘false break of the high’. The question is, just how bearish is it? Why worry about the market anyway? It’s only an index. That’s true. But getting the overall movement of the market right allows you to position your portfolio for maximum gains.