As 2023 moves further out, more banks will fail. $389 Billion was withdrawn from banks, just in the month of March:
Largest monthly bank withdrawal in US history. Then, last week another $65 Billion was withdrawn. Kamala Harris (US VP) was in Africa last week trying to get public private partnerships to bring liquidity to US banks. Jaime Dimon (CEO JP Morgan Chase) said “the banking crisis is far from over. The impact will last decades”. Then, take a look at the inverted yield curve. 90 day yields are even more inverted from the 10 year yield. This chart below shows the inversion, and such an inversion implies with near certainty, a massive recession is 90 to 180 days away:
How does this effect Bitcoin you ask? Well, last quarter Bitcoin led all assets globally with a 69% return in the 1st quarter. The Nasdaq 100 was second at 21%:
We believe, unlike some predictions that the US economy will hyperinflate in 90 days, that it could take much longer than that. It is nearly impossible to predict how long this will play out. What we do know, is that as the banking collapse unfolds, and there is more clarity, Bitcoin will be the main flight to safety outside of banks. Gold will be as well, but the majority will run to Bitcoin. This played out after the March 2020 covid crisis, and there is no doubt it will happen again. Simply as a reminder, here are the German Marks when 1 oz of Gold is valued in that currency. Circa 1923, after the Weimar Republic collapsed and Germany experienced hyperinflation. Instead of Gold being valued to this extreme, it will be Bitcoin when this monetary system comes crashing down:
The 2020 – 2021 Bitcoin bull run tought us that timing is less important. Trends are a better focal point! The trend in Bitcoin is up, it touched $30K in the last 30 minutes! First time since last May that has happened. We see a bull run beginning now, that will last over 30 months into the future. We cannot say Bitcoin won’t dump when the stock market and real estate market do crash. However, that will only be an incredible buying opportunity. Save in Bitcoin, hold it long term. Don’t borrow anything from banks or borrow against your Bitcoin. Hold it long term, this is a marathon. We are not financial advisors and this is not financial advise. Bitcoin is the lifeboat out of this storm.