$14.2K is the first time in 2020, bringing the cryptocurrency to a new high for the year. We are about 17% down from the ATH. Make sure to circle Dec. 7th - 13th as discussed in "Bitcoin in November" this is when I believe will be at 17K. Let the good times roll for Bitcoin.

U.S. Dollar is doomed

coming from Stephen Roach via SCMP

The US dollar slide has entered the early stages of what looks to be a sharp descent, having already fallen by 4.3 per cent in the four months ending in August in terms of its real effective exchange rate – the index that matters the most for trade, competitiveness, inflation and monetary policy. This recent pullback comes after its nearly 7 per cent surge from February to April, when the dollar benefited from the flight to safety triggered by the Covid-19 economic shock. But even with the recent modest correction, the dollar remains the most overvalued major currency in the world. I continue to expect this broad dollar index to plunge by as much as 35 per cent by the end of 2021. This reflects three considerations: the rapid deterioration in macroeconomic imbalances in the United States, the ascendancy of the euro and renminbi as alternatives, and the end of the aura of American exceptionalism that has given the dollar Teflon-like resilience for most of the post-World War II era.

In short, the vice is tightening on a still-overvalued dollar. Domestic savings are plunging as never before, and the current-account balance is following suit. Don’t expect the Fed, focused more on supporting equity and bond markets than on leaning against inflation, to save the day. The dollar’s decline has only just begun.

Bitcoin Hash Rate increases

Coming straight from Glassnode charts...VROOOM!! An increase in hash rate has just occurred this past week because of the new ATH in difficulty a couple months ago. I guess it finally caught up.

Well yeah what you expect?!?

I know you are going to say, "Oh Car please stop it with the hard currency talk."

TOO LATE!...lol

This ultimately makes Bitcoin a very hard currency.

Now most Bitcoin aficionados will focus on the miners that fell off because they think that is more significant in the short term.

NOT RELEVANT...when you zoom out and recognize this is another step towards.

That is right you know what I am going to say?


Now all together class, "Hyperbitcoinization!"

Yes your right this all leads to hyperbitcoinization in the long term.

I will be releasing Bitcoin in October tomorrow make sure to sign up to get your free episode. (There is one other chart that I will be placing in the newsletter tomorrow that checks off the last key indicator that we are headed into another Bitcoin bull run.)

Released another Birth Crypto Death on Decentralized Cloud Computing platform iExec.

Check out more here: Birth Crypto Death - S4EP4 - iExec RLC