Where is Bitcoin going next?

Where is Bitcoin going next? Today we discuss Bitcoin and how it's currently crashing and what that means for it's future! We also talk about how consumer confidence fluctuates based on political affiliation and reflect on how political leanings shape people's perception of reality. We analyze charts "chart crimes," emphasizing how misleading technical analysis can be. We also touch on America's ever growing debt.

Today we discuss...

• There's only two weeks between Halloween and the election!
• The University of Michigan Consumer Expectations Index reveals an inverse correlation between political party expectations based on who is in power.
• How political bias colors people's perception of reality.
• A shift in political leanings of tech executives is observed, with a historical trend toward Democrat support but a recent swing toward conservatism in 2024.
• The current state of leadership, with a lack of strong leaders across political lines.
• The concept of "chart crimes", where misleading technical analysis charts often deceive inexperienced investors.
• Bitcoin technical analysis is debunked, explaining that chart setups are not guaranteed predictions.
• The U.S. may face bankruptcy within 5 to 10 years, which could trigger significant inflation and financial hardship.
• The velocity of money and the trust in currency are key indicators to watch for potential hyperinflation or financial instability.
• Bitcoin's recent rise is correlated with an increase in M2 money supply, and both Bitcoin and gold are seen as potential hedges against inflation.
• There's uncertainty about how Bitcoin will perform in future recessions since it hasn't faced a major economic downturn yet.
• Consumers are struggling with high core inflation, impacting necessary expenses like utilities and food, despite overall inflation rates declining.

For more information, visit the show notes at https://moneytreepodcast.com/where-is-bitcoin-going-653

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Douglas Heagren | ProCollege Planners

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