JP Morgan Expects US Dollar to Lose Traction: Boon for Bitcoin

JP Morgan Expects U.S. Dollar to Lose Traction: Boon for Bitcoin

Drop USD?

According to JP Morgan, the U.S. Dollar may be on its way out. This may be bullish for Bitcoin.

Jan Nieuwenhuijs, an analyst of gold, recently tweeted out a report from JP Morgan — one of the world’s largest banks. The jaw-dropping report revealed that the famous bank believes that the USD could “become vulnerable to a loss of value relative to a more diversified basket of currencies, including gold”. The bank’s analysts cite the “persistent and rising deficits in the U.S. (in both fiscal and trade.)”

Indeed. Forecasts currently chart America’s fiscal deficit to reach $1 trillion within the next decade. This could result in a relative devaluation against a diversified basket, as the bank writes, and may actually be a catalyst for the U.S. Dollar to start to recede as the world’s reserve currency.

JP Morgan’s harrowing report echoes comments made by Mark Carney, the head of the Bank of England — the monetary authority behind the Pound. As reported by Ethereum World News previously, the central banker said that the world is in need of an entirely new monetary and financial system, citing his sentiment that the U.S. Dollar-based system that exists today is quite archaic. In fact, Reuters reports that Carney said the USD is currently playing a “destabilizing” role in the world economy, citing the effects of globalization and trade spats.

He added that with the dollar being the de-facto reserve asset of the world, with USD being a primary settlement tool for international trade and central banks hoarding the currency, “developments in the U.S. economy, by affecting the dollar exchange rate, can have large spillover effects to the rest of the world.”

To Aid Bitcoin

According to Raoul Pal, this next global system will be a boon for Bitcoin and gold. The former head of Goldman Sachs’s hedge funds sales division and current Real Vision CEO explained that this new infrastructure, which will nearly definitely by digital, will act as an on-ramp for the cryptocurrency market.

Indeed, the wide adoption of a digital form of money will acclimate society to transition to Bitcoin and decentralized solutions, especially if governments are encroaching on the privacy and safety of citizens.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bitcoin to Continue to 20000 After Retracement to 9000s: Analyst

Bitcoin to Continue to $20,000 After Retracement to $9,000s: Analyst

Bitcoin Has Bottomed, Ready to Bound Higher

Once again, Bitcoin (BTC) has stagnated, finding a foothold around $10,000 for the umpteenth time in a matter of weeks. While this is a positive development, especially considering the bearish momentum seen last week, there remains some expecting for the cryptocurrency market to continue lower.

But, Murad Mahmudov of prominent crypto fund Adaptive Capital, which is run by the analyst, Willy Woo, David Puell, and Misir Mahmudov, has recently proposed that bears, not bulls, are finally losing grip of the crypto market.

In the below tweet, which Mahmudov posted on Friday, it was argued that $9,080, which Bitcoin hit a number of weeks back in a massive 35% retracement from $14,000, is the short-term bottom for this phase of the cycle.

In a tweet which he headlined “Contrarian view”, the former Goldman Sachs analyst explained that from how he sees it, Bitcoin is most likely to test $9,750 — the 0.618 Fibonacci Retracement of this whole cycle — in the following month in a bout of sideways price action, then “continue steadily upwards” to flirt with the $20,000 all-time high around the end of 2020.

He backed his prediction by looking to August 2016, when BTC was in a similar situation then as it is now: BTC had just rallied out of a bear market, but bears wanted one last hurrah. Then, Bitcoin tested its 0.618 Fibonacci Retracement prior to skyrocketing higher.

Also back in 2016, trend indicators, like historical volatility and the Relative Strength Index (RSI), hit certain levels that they are trending to at this moment.

And, to put a cherry on the cryptocurrency cake, the analyst recently noted that the Fishnet indicator (similar to the Guppy) is tightening as BTC has entered a wedge. This pattern was last seen in 2012 and in 2015/2016, back when Bitcoin was breaking out of bear markets. History repeating will see the cryptocurrency break out in the coming two months prior to commencing a grind higher.

Mahmudov’s analysis lines up with the thoughts of John Bollinger, which Ethereum World News reported on yesterday. As detailed by this outlet on Friday, the creator of the Bollinger Bands technical indicator stated that he is under the belief that Bitcoin and its ilk are “working on trying to forge a short-term tradable bottom”.

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Bollinger stated that while the bottoming “process is [not] completed yet,” he is currently eyeing a range of “someplace between $10,000 and $9,000” for BTC to find a low.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bank of England Admits Crypto is the Future US Dollar to Fall

Bank of England Admits Crypto is the Future, U.S. Dollar to Fall

Crypto is here to stay and the greenback is on its way out. That was the sentiment portrayed by the Bank of England’s Governor, Mark Carney, at the central bank meeting in Jackson Hole, Wyoming on Friday. Crazy, right?

Crypto a Topic at Central Bank Meeting

Over the past few days, the leaders of the world’s economy, the chiefs of and advisors to central banks the world over, have descended in a little town in (the pro-blockchain state) Wyoming, Jackson Hole. Financial media is also in attendance. There, these world monetary leaders are convening to talk about monetary policy and macroeconomic trends. This comes at an important time, as a growing number of Wall Street analysts and retail investors have begun to call for a recession, just as trade wars have raged and central banks have embarked on money printing sprees.

One interesting comment came from Mark Carney of the Bank of England, According to a report from Bloomberg, the leading central banker said that a Libra-like crypto asset has the capacity to replace the U.S. dollar as the world’s reserve currency. In other words, he’s saying that a digital asset backed by a diverse range of government assets, including bonds and fiat monies, has the potential to usurp the world’s go-to currency.

While he wasn’t exactly specific with his comment, Carney made it clear that the current system isn’t working in his eyes, saying that “in the longer term, we need to change the game”.

Of course, he didn’t explicitly say that a decentralized crypto asset is the future. But, the sentiment that a digital currency has the ability to literally overtake the world’s economy shouldn’t be taken lightly, even if it was made in reference to something as seemingly centralized as Libra.

t is important to note that if a consortium of central banks do go ahead with a Libra-like project, it is unlikely to be as corporate or decentralized/uncontrollable as Facebook’s David Marcus claims Libra will be.

Not His Only Interesting Comment

That wasn’t his only interesting comment. According to the same Bloomberg report, the U.K. monetary leader also stated that he believes the world is currently seeing “heightened economic policy uncertainty, outright protectionism and concerns that further negative shocks.” If you believe that Bitcoin is a proper store of value or safe haven/hedge, this comment should be seen as bullish for the “orange coin”.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Gain Strength as You Age

Gain Strength as You Age

If you're getting older and feel you're loosing strength, there's help to get you started on reversing that process. There is a product, MyoHealth, with a US-patent, which contains an Essential Amino Acid complex, "clinically proven to support strength and function."

Dr. Robert Wolfe led the clinical trials on MyoHealth which was "initially developed to stop, restore and prevent muscle loss in astronauts and bed ridden seniors." Those clinical trials have proven that, through the process of stimulating the protein synthesis, it does "support strength and function.".

"With 25 independent, human clinical studies and $20 million in research combined with findings from NASA and National Institutes of Health, Myohealth contains the right balance of essential amino acids to help you reverse and prevent muscle loss."

Content and quotes courtesy of TriVita's MyoHealth.

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Bitcoin Bleeds Out 6 Falls to 10500: Case for Bounce Growing

Bitcoin Bleeds Out 6%, Falls to $10,500: Case for Bounce Growing

Bitcoin Sheds 6%

Over the past few days, bears have managed to wrest the wheel of the proverbial Bitcoin car from bulls. And since then, this class of investors has been driving BTC off a cliff.

As per the time of writing this article, the cryptocurrency has found itself changing hands for $10,560 apiece, having shed 6% of its value in the past day. Data from Coin360 suggests that Bitcoin is down around 11% in the past week, marking one of the larger weekly losses in this bull market.

This dramatic move lower comes shortly after countless cryptocurrency investors on Twitter were calling for bulls to commence their next leg to the upside. In fact, just the other day, an analyst from Goldman Sachs — the world-renowned investment bank — eyed a “short-term target at $13,971” for BTC. Should the cryptocurrency encounter that level, that would mark a double top, as $14,000 is where Bitcoin reversed in late-June.

The analyst continued, writing that Bitcoin’s potential move to tap $13,971 may be the “first leg of another five-wave count similar to the trend that lasted from December 2018 through June 2019.”

And thus, they advised their clients to buy any retracement from their aforementioned short-term target, barring that BTC “doesn’t retrace further than the $9,084 low.”

BTC Likely to Bounce

While the drop may seem like it has no end in sight, analysts are starting to expect a bounce — at least one in the short term. Analyst Crypto Hamster recently explained that Bitcoin’s recent drop reminds him of BTC’s drop in late-2018 to $3,000 from $6,000. In other words, a bounce may ensue in the coming days.

He explained that structurally, the moves look similar. The legs lower are losing momentum, as marked by declining volumes; the RSI, Stochastic RSI, and MACD histogram hit “extreme lows” and have started to print bullish divergences; the biggest sell volume occurred a while before; sentiment is overly bearish. This may imply Bitcoin could soon see a relief bounce.

That’s not all. The Bitcoin Fear & Greed index has reached the December lows. The indicator, which aims to measure how the market is feeling about BTC’s price action, reads an 11 — “extreme fear”.

According to the makers of Bitcoin Fear & Greed Index, a bounce — a short-term one at least. A description of the index from the website reads:

“The crypto market behavior is very emotional. People tend to get greedy when the market is rising which results in FOMO. Also, people often sell their coins in irrational reaction of seeing red numbers. Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.”

Indeed, the last time the index had such a low reading, Bitcoin bounced higher in the weeks that followed. In fact, when this indicator last flirted in the low 10s, BTC gained 20% in the weeks that followed.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Tim Sales’ Straight Talk: You’re Brainwashed

Tim Sales' "Straight Talk": You're Brainwashed

This week he's going to expose yet another example of how competitors try to poach network marketers by badmouthing the industry and name-calling.

These guys are out there pretending to be haters for the purpose of getting traffic and eyeballs over to them, so that they can sell you their product instead.

Click to watch Straight Talk: You're Brainwashed!

Tim Sales video preview:

Notice the emotional language they use to elicit a reaction:
    – You feel so dirty, like you need to take a shower
    – Like a cheesy salesman
    – Drag family and friends to your meeting
    – You've gotta pounce on people
    – Brainwashed
    – Everyone is a potential recruit

I'm exposing their technique, because it's time someone stood up and pushed back on those who would seek to badmouth and criticize this industry.

I'm not brainwashed because I'm in business. And I'm not brainwashed because I'm in a network marketing business.

There is a professional way to do business, and there is a sleazy way to do business, and you are the one who must decide how you run your operation.

As for me and my team, we will always keep it professional. In fact, today I'll share a little bit of my "Inviting" formula that I personally use, which I learned from Tim Sales.

Link to Tim Sales' video on YouTube: https://youtu.be/1mHghm9S3rU

This article has been modified from an email that I received from Tim Sales. After being modified, it's been posted on Markethive by Jeffrey Sloe

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Bitcoin Bull Draper Doubles Down on 250000 BTC Price Target

Bitcoin Bull Draper Doubles Down on $250,000 BTC Price Target

Bitcoin to Surge 20x In Four Years?

Bitcoin is still trading 40% below its all-time high of $20,000. Despite this, investors in the industry still are star-struck, looking to lofty price points that they one day believe BTC will manage to reach.

Tim Draper, a prominent Silicon Valley venture capitalist, recently doubled down on one of these lofty price predictions. Speaking to Yahoo Finance’s “YFi PM” segment, the cryptocurrency pundit, who bought his first Bitcoin over five years ago and famously participated in the government’s auction of Silk Road-sourced BTC, explained that he believes that the cryptocurrency will hit $250,000 by 2022. He added that should the 2022 timeline not work out, he’s expecting Bitcoin to achieve that price by Q1 2023 at the latest.

For some perspective, Bitcoin rallying to $250,000 from current levels would imply an approximated 2,000% increase. Four years may seem to short for such appreciation, but, remember, cryptocurrencies are a paradigm-shifting technology with an absurd amount of volatility.

In previous interviews, he reasoned that using fiat monies, which he calls “poor” (referring to their quality), are illogical, citing their controllability, lack of transparency, and subjectivity to political and social whims on the day-to-day. And as the American investor argues that most of the brightest developers, engineers, and academics are working on digital assets, Draper opines that there could be a large capital flight from fiat to crypto over time. He elaborates:

“My belief is that over some period of time, the cryptocurrencies will eclipse the fiat currencies. That would be a 1,000 times higher than what we have now.”

Not the Only $250,000 Caller

Draper isn’t the only industry insider to be eyeing a $250,000 Bitcoin. As reported by Ethereum World News previously, Trace Mayer, one of the earliest public Bitcoin investors (like 2010/2011 early) and an investor in prominent crypto exchange Kraken, explained earlier this year that he believes that BTC is soon to embark on a rally that will “blow your hair back”. In fact, the investor stated that Bitcoin could easily hit anywhere from $100,000 to $250,000 in the next bull rally.

What Mayer used to back his call is the stock-to-flow ratio (SF ratio), popularized in the industry by Saifedean Ammous and Raoul Pal. Twitter statistician PlanB has since adapted the SF ratio to a price model for Bitcoin. The analyst claims that there is an exponential relationship between a rare commodity’s inflation rate (SF ratio) and its market capitalization.

His model suggests that after Bitcoin’s next block reward reduction — also known as a halvening or halving — BTC will have a fair value of a $1 trillion market capitalization, which translates to approximately $55,000 per coin. So no, maybe $250,000 isn’t inbound just yet, but by the next halving, maybe so.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Vitamin D Protects Against Dementia

Vitamin D Protects Against Dementia

Dr. Gary Small, M.D., writes:

Fat-soluble vitamin D protects bone health and helps the body absorb dietary calcium, magnesium, and other minerals.

We can get vitamin D from fish, liver, sunlight, and supplements.

Dr. David Llewellyn and his associates at the University of Exeter Medical School in the United Kingdom reported in the journal Neurology that low blood levels of vitamin D are also associated with a greater likelihood of developing Alzheimer’s disease.

The researchers measured blood levels of vitamin D in more than 1,600 adults with the average age of 73.

The subjects did not have dementia at the beginning of the study. Volunteers with vitamin D levels of less than 25 nmol/L were twice as likely to have Alzheimer’s disease or another dementia at a follow-up five years later.

Earlier laboratory studies indicated that vitamin D helps break down brain-toxic amyloid proteins, which may explain the connection between low vitamin D and greater dementia risk.

The new study demonstrates an association with dementia risk but not a cause-and-effect relationship; however, it strongly suggests that getting adequate vitamin D may protect brain health.

Dr. Gary Small, MD, author of The Mind Health Report newsletter, is a professor of psychiatry and aging, and director of the UCLA Longevity Center. Dr. Small, one of the nation’s top brain health experts, frequently appears on The Today Show, Good Morning America, and The Dr. Oz Show. He is co-author with wife Gigi Vorgan of many popular books, including the best-sellers The Memory Bible and 2 Weeks to a Younger Brain This article came in an email.

Looking for a great source of Vitamin D that's designed for easy absorption? It starts with 5,000 IU of Vitamin D3 (Cholecalciferol), a bioavailable form that matches what your body produces naturally. Don't just take a Vitamin D supplement—absorb it!

Learn more about the importance of the Vitamin D supplement.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Institutional Investment Advisor: Bitcoin BTC Will be Bought by Hedge Funds

Institutional Investment Advisor: Bitcoin (BTC) Will be Bought by Hedge Funds

Bitcoin Makes No Sense to Wall Street

For the most part, traditional hedge funds have avoided Bitcoin like it’s the plague. Just look to the front page of CNBC and other mainstream business news outlets, which often push articles that cite mainstream economists and legendary fund managers — like Warren Buffett and Ray Dalio — in which it is stated that the subjects don’t believe in Bitcoin in the slightest.

Other notable players in finance and politics, including incumbent U.S. President Donald Trump, have echoed this analysis, using phrases like “thin air” and “unbacked” to get their point across. You see, unlike traditional stocks and assets, Bitcoin doesn’t provide a fixed yield, a dividend, or produce cash flow. Thus, to most in the traditional investment world, it makes no sense, and thus fits into no existing investment theses or strategies.

The technology itself is also abstract. “What’s a blockchain?” Traditional fund managers likely ask whenever they see it appear on their Bloomberg Terminal.

BTC to Become Part of Hedge Funds’ Portfolios

But this may be changing. Speaking to CNBC, Don Steinbrugge, the chief executive of Agecroft Partners — a hedge fund and institutional investment consultancy firm — made it clear that BTC should (and does) make sense for traditional funds, despite their hesitancy.

He explained to the outlet that he believes that Bitcoin has had an “amazing run” and sports “fantastic technology”. It wasn’t clear which part of the Bitcoin blockchain he was referring to, but BTC, compared to traditional fiat systems, is faster, cheaper, decentralized, and more transparent. Steinbrugge went on to point out that some investors have been using BTC to hedge against inflationary risk, likely touching on the mass usage of the cryptocurrency in nations stricken with unsustainable levels of inflation, which includes Venezuela.

He went on to note that macroeconomic uncertainty and tumult is worrying him. Bitcoin, of course, is widely becoming recognized as a hedge — a gold 2.0 if you will — that has the potential to perform well in tumultuous times.

Interestingly, he did call Bitcoin “very expensive”, adding that it is hard to “value” (maybe look to PlanB’s stock-to-flow model). But, he asserted that Bitcoin is “going to be here for a long time”, adding that eventually, it will become a part of the portfolios of “a lot of hedge funds”.

This may just make sense. Delphi Digital, a cryptocurrency research firm, discovered a few months back that adding 3% of Bitcoin to a traditional portfolio actually improve its Sharpe Ratio — a financial measure used to gauge risk-return profiles. And Binance Research recently echoed this, revealing in a report that including BTC in “traditional multi-asset class portfolios provides overall better risk-return profiles.”

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe