Bitcoin Magazine: Panama bill legalizing Bitcoin as legal payment goes to Supreme Court, the final step before being enacted into law. This would make Bitcoin legal tender in Panama.
In addition, Brazil is launching payment systems for Bitcoin through Mastercard and Binance. This is a major step before Bitcoin is legal tender in Brazil. A BRICS nation:
Paxful reports that in Nigeria, citizens are paying over 100% to make Bitcoin payments. However, that is through the swift banking system. If they can get the apps on their phones, and upload an exchange, or use Bitcoin ATM machines, they will save massive amounts, and bypass this government corruption in Nigeria!:
On federalreserve.com, we find this announcement from March 2020. Depository institutions (banks), no longer have to hold any monetary reserves. We have discussed the FDIC insurance scam (FDIC only holds 1.2% of necessary reserves to insure deposits up to $100,000) in previous blogs. Below is the federal reserve announcement from 2020 about zero reserve deposits required. Keep in mind, this is 100% fractional reserve banking, with no reserve requirement. FDIC has $125 billion in assets, insuring $9.9 trillion in deposits. That’s 1.2%!:
Lyn Alden: The dollar has devalued about 75% relative to gold since 2005.
Lyn also found this chart regarding policy projections for Debt/GDP. This was actually released publicly by the US Treasury:
This is why US citizens, and all citizens must opt out of this fiat monetary system. Debt is rising to historic levels in all developed nations. In third world countries inflation is out of control. The word is now getting out. The 2022 bear market is over, and money is pouring into Bitcoin as a safe haven. This will only pick up momentum as the 2024 halving gets closer! See this chart below from Steve Courtney, the January monthly candle has Bitcoin well above the purple line on the chart which was resistance since early December. If the FOMC announcement is actually 25 bps as we think it will be, Bitcoin will have the opportunity to grow to $25K or so in February. If the rate increase is any higher than that, Bitcoin may fall some, and try this later in the year. Only in bear market endings do monthly candles engulf previous bearish candles, with a bullish one:
Another positive sign in the charts is that price action is back inside the gausian channel and it has turned red. This is another indicator of a momentum swing in a new direction:
We expect 2023 to be choppy. High highs and some lows when it gets over bought. Hang with it, 2024 and into 2025 will be more consistent. We think the geo political environment will improve a lot by then as well! Remember, the Bitcoin halving is the crystalizing moment during the bull market, once that happens next year, Bitcoin will be stronger, and scarcer than today. This is not financial advise and we are not financial advisors. HODL Bitcoin and don’t sell it. Store it offline in a cold storage wallet, or a 401K rollover. Here are the companies we use for that.
Bitcoin is the life boat. The seas are about to get very rough! You’ll see!
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