Well, there's a reason for the term, "January blues" and that's because everyone's tired, hungover, broke, and probably half a stone heavier than they were last month with all the eating and the partying we did over Christmas.
The markets are no different either. It's not uncommon to see January have a big dip in the markets as the macro and the micro suffer in the same fashion. Retail, because we're broke, and Business, because no-one's buying.. because they are broke.
But, this month is proving to be no different from any other January. We've historically seen a dip around this time of the month, and as we approach the end of Jan the pace seems to significantly pick up again.
I think this is going to be a good year. Maybe one of the best years.
It will be the first ever time a government in the west has been pro crypto. There have been several notable places in the world that have taken their countries wealth and plunged it into BTC. And, as an avid crypto fan I think that's a very very good idea.
However the west, and in particular America has always resisted the plunge. I suspect it's because of the dollar. Right now the world currency is the dollar and that's what makes it the strongest currency in the world. When you can trade goods for USD in most places in the world then it makes the dollar very mighty in deed.
But, if America doesn't act fast it's going to lose its front seat on the world stage. Bitcoin is making some serious waves, and every president until trump has resisted the urge to use good old BTC as a reserve, or even think of it as a viable option, even although a good portion of Americans are into crypto.
Trump is bringing along with him several forward thinking ideas to his presidency. I'm not too enamoured by some of the things he's thought up, however I do like his crypto ideas that he's bringing to the table -- and I know he's having a "crypto ball" with tech leaders at his inauguration; this in itself is a good move because it's the first step to bringing crypto to mainstream.
But, I mean who knows; not me, nor you, we have to wait in faith I guess.
One thing is for sure though, is that this bull will be so powerful that it's going to be a good one. A crazy one perhaps! But it'll be fun.
Just please, be safe, and don't use anything you can't!
Peace :)
