After hitting a local high at over $31,000, bitcoin looks to be regrouping ready for another leg higher.
That bitcoin has broken out and that a strong uptrend is forming is not in much doubt. The higher high has been made and bitcoin is currently buoyed up by the strong horizontal support at $30,300.
If what is happening with the traditional monetary system is taken into account bitcoin would appear to be a complete no-brainer as a means of moving wealth out of the system and into bitcoin where it cannot be manipulated, more of it cannot be printed, and where it cannot be confiscated.
More currency will be printed
The mainstream narrative of whether the Federal Reserve will or will not pivot into quantitative easing and start printing more currency is not really here nor there, at least in the long term. That it will print more currency is an absolute certainty given the economics of a debt-based system.
How will bitcoin bear up?
However, many economic commentators are of the opinion t
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