Bitcoin Bashed As Capital Starts To Rotate
The black swans are here.
London | Brisbane. 9th Feb 2025. For immediate release.
Following the destruction of Silver last week, focus fell on Bitcoin, which has been flying under the radar since its all time high in October. As usual with a crash, many different underlying problems all arrive at the same time and investors jump ship. Was (is) Epstein Satoshi Nakamoto? Will quantum computing crack the cryptography? The 4 year cycle is ,in fact, intact. In reality the believers are faced with a failing US hanging onto crypto as a lifeline.
Japan's new Prime Minister’s snap election was a brilliant piece of statesmanship. On Sunday she was re-elected by a landslide and Japanese markets are now facing a familiar central bank vs treasury confrontation. Like the US and Australia. This doesn’t bode well.
Last week the Bank of England and European Central Bank held rates, with inflation in the EU now below the 2% target. Conversely the RBA, hiked as central bank and treasury agendas clash leaving borrowers to pay the price.
Stock markets did rebound but it was the Dow Jones that was the saviour of markets. Look for more rotation of capital into safer havens.
This week sees US Nonfarm Payroll, following the weak ADP, on Wednesday, and CPI on Friday. A strike on Iran is still on the cards .
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Ian Reynolds: Trader & Investor | Former Bank Foreign Exchange Market Maker | Early investor in Bitcoin & Tech Founder. Helping investors understand the radical changes coming in macroeconomics and geopolitics.
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