forex signal system trading: Funny Money Takes Another Hit

Dear Reader,

I'm not a Bitcoin bull.

I'm not a Bitcoin bear.

I'm really more of a "Bitcoin Agnostic."

I understand the "pro" Bitcoin argument.

I'm just not completely behind it. I'm not all-in on a cryptocurrency because I spent too much time studying Black Swan events and public policy. I'll get to that later.

For now, I have three major concerns about Cryptocurrency. Let's take a look.

A Digital 9/11 Event: We've just recovered from one of the most high-profile Ransomware attacks in U.S. history with the Colonial Pipeline. Does anyone understand that a massive blackout is possible in the United States? What would a multi-day power outage along the Interstate 95 corridor do for markets? How can you access all your Bitcoin when you can't charge your cell phone? I make a similar argument about gold all the time. In times of crisis, Cryptocurrency cannot get you enough green beans and bullets.
Manipulation: Does anyone believe that cryptocurrencies are not manipulated? We're watching Elon Musk manipulate Cryptocurrency every single day. He gets on Twitter and talks about how incredible it is. Then a week later, he turns around and ends his company's relationship with it. We have countless scams. We have cheerleaders who engage in pump and dump schemes. Until there is proper regulation, I'm not willing to invest a lot of money.
Government Competition: Today, Bitcoin and Ethereum plunged. People believe that this downturn is tied to Musk's recent announcement that Tesla won't accept Bitcoin for payment. Nope. It comes after three Chinese regulatory bodies announced that banking institutions should avoid engaging in crypto transactions. The Chinese government has been pressing to reduce its citizens' exposure to Cryptocurrency. This is part of a large effort to prevent capital from exiting the borders. But the broader trend is that China will aim to digitize its Yuan. When this officially happens, they will not want competition in the form of Bitcoin. I would argue that the Federal Reserve does not want to have competition with a digital dollar either.

Listen, if you want to buy Cryptocurrency, do it. Have an allocation level, however. You don't want to be overexposed to significant swings like we've witnessed today. At most, keep your allocation at 5% to crypto and maybe 5% in gold and silver.

Being agnostic is not always popular. But I know how to profit in other, more proven ways. And we'll discuss a few of these strategies in the coming days.

Enjoy your Wednesday,

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Funny Money Takes Another Hit

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