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Bitcoin is Geopolitical Hedge | Trading Cocktail
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Bitcoin is Geopolitical Hedge and Inflation Hedge! NOT!!!

Bitcoin is Geopolitical Hedge and Inflation Hedge! NOT!!! All red on the crypto landscape, discounting any and all nonsense claims about bitcoin being a geopolitical hedge, inflation hedge, or any other nonsensical moonbois sort of statements.  BTCUSD reaching 20k is now within reachable target. The sell-off spread to cryptocurrency markets, pushing bitcoin below $35,000 for the first time in a month.
“Markets are now more adequately pricing in the risk of something horrific happening. That combined with the uncertainty is a horrible environment to be in. No one wants risk exposure when that’s floating around,” said Rob Carnell, head of Asia Pacific research at ING.

U.S. 10-year rates fell drastically to 1.8681 percent on Thursday because of imminent geopolitical worries, down from Wednesday’s finish of 1.977 percent. The yield on the two-year Treasury note also declined, from a closing of 1.6 percent to 1.5 percent.

The dollar surged more than half a percent against a basket of other major trade partners to 96.715 as a result of the worldwide rush to safety.

At $1.1220, the euro was down by 0.8 percent for the day.

After making modest gains early in the day, the Russian rouble plunged. On top of a 3% decline versus the dollar on Wednesday, it was last down 5.77 percent.


Here is our previously published new year prediction:

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