~ The Saloon ~ Crypto & Stocks ~

[xZx]

the dollar is starting to rise, but this is against a basket of other fiat currencies -- in the index. that doesn't mean USD will start beating all cryptos.

https://www.theice.com/publicdocs/futures_us/ICE_Dollar_Index_FAQ.pdf



let's also not put too much emphasis on what wall street traders are doing with bitcoin, since several latin american countries are about to jump in with both feet, as well as other nations.

consider what india's influence will be in the space, if it suddenly adopts crypto. this is huge, for example:

https://cointelegraph.com/news/india-to-reportedly-ditch-bitcoin-ban-agenda-in-favor-of-asset-classification

here's an article from a few days ago that does a good job explaining the various trends and countertrends of BTC vs USD:

https://cointelegraph.com/news/forget-elon-here-s-why-bitcoin-traders-should-be-watching-the-us-dollar-index-instead

and from a technical POV, i'm not seeing #BTC tumbling. it's just come off a pump and drifed lower, now at $37,635. see chart below.

for now, we'll have to disagree about the odds of BTC hitting $20K.

inflation is rising globally due to scarcity, not just demand. food, paint, oil, the list goes on and on.

lots of goods sent to the US in container ships from china won't be arriving due to the COVID delta variant hitting a big port there.

https://www.cnbc.com/2021/06/15/china-covid-cases-causing-higher-shipping-costs-delayed-goods.html

the only thing i've heard of that's getting cheaper now is lumber, perhaps because the housing market is so inflated by corporate buyers. but it hit a record high in may, so... lol

https://www.ajc.com/news/lumber-prices-see-biggest-drop-in-history-after-historic-highs/L2HEEWAUJFGRDCOIQM2ST2RSU4/