Crypto is interesting, but it's worth nothing, and it will be suffocated by the world banks once they line their pockets. It's not really a competitor to gold, but its basic structure was fashioned on the same principles, ie you have to mine it, it has a limited supply etc. But it's just a clever ploy that they pushed for years to get the speculators on board. What makes it so interesting is people actually think it has a future, Elon Musk is a smart man, but even smart men can make mistakes, Elon will probably still reap the rewards simply from bitcoin holders buying his cars, while he Bconverts it back to cash and uses it to buy gold. I'm reading an old book at the moment called ”Bear Trading “ and it describes the Trading mania back in 1989 crash, it outlines cases similar to bitcoin, it basically says that ”market makers will always invent new products to attract the excess money sloshes around at the top of a cycle, and in a bear market everyone is mauled, the first financial products to lose liquidity are those based on loose cash, these include the speculative end if the market.” if there is one word that you could use to describe bitcoin or dogecoin.....certainly speculative would have to be in the top three. But while the money is sloshing around I guess there's no need to worry ha ha. The book goes on to say “forget about using a stop loss in a bear market, because when the fall comes most stocks will open 25% down and speculative stocks 40% down”. We all know the markets are being held up by government, but in my humble opinion it will be the bond market that brings the Fed to its knees. So we will see how Crypto fairs against gold when the system crashes, until then it's all just opinions because these historical moments are yet to be written.
