Bitcoin's #cryptocurrency market dominance has likely peaked. While anything can happen, and Bitcoin's market dominance can certainly continue to rise, my charting suggests that there's a high probability that other cryptocurrencies will soon begin to take market share away from #Bitcoin. One cryptocurrency that I am watching particularly closely is #Kaspa. Kaspa ( #KAS ) is a decentralized #PoW protocol that solves the #blockchain trilemma. #KAS is the only asset that I have found with a price time series that turns the price time series of Bitcoin into a decay function when the former is plotted as a ratio to the latter on the highest timeframe. This provides mathematical evidence that KAS is out-competing Bitcoin as a store of value. As such, Kaspa is essentially just a more efficient Bitcoin. Kaspa's competitive advantage over Bitcoin is occurring as Bitcoin itself is out-competing gold as a more efficient store of value. In the coming years, it's likely that the price of gold will rise against fiat currency, the price of Bitcoin will rise against the price of gold, and the price of Kaspa will rise against the price of Bitcoin. As always, this is not meant to be financial advice. Do not buy or sell any security because of this tweet.

The RSI on the S&P 500 two-day chart has risen to the highest level since August 2020. #SPY / #SPX / #FOMC / #Trading

Here's my video on Bitcoin's Power Law Corridor for those who haven't yet seen it, and who would like to watch. In this video, I explain how Bitcoin's price action appears as a straight line when you logarithmically scale time and price, but I note that Bitcoin's growth may become hyperbolic during the fiat hyperinflation stage. I also explain why #Bitcoin is becoming the new unit of account and global risk-free asset. Bitcoin is far more efficient than gold at serving as a monetary base. Those who accumulate gold rather than Bitcoin will likely come to regret their decision over the long term as the chart clearly shows the price time series of gold decaying against that of Bitcoin. Many proponents of gold argue that it is inherently more valuable than Bitcoin because of its physicality. However, in the years and decades ahead, physical and digital existences will increasingly become intertwined. Additionally, technology (such as nuclear fusion) will eventually make gold production increasingly cost-effective and render it susceptible to dilution. Whereas Bitcoin's supply is immune from this eventual problem. However, technological advancement will not stop at Bitcoin. My latest chart research finds that other cryptocurrencies, including #Ether, #Chainlink, #Solana, #Aave, #Polygon, and more recently, #Kaspa, are gaining cryptocurrency market share over #BTC, reflecting their tendency to strongly compete with Bitcoin over the long term. Some of the charts I have seen are truthfully quite mind-blowing. Blockchain and similar technologies are not just solving a monetary problem, these technologies are solving a human governance problem. In so much as these technologies decentralize money, they decentralize power. Consequently, these technologies will be increasingly challenged by centralized authorities. #BTCUSD / #Nostr / #Plebs / #trading / #cryptocurrency / #investing / #fintwit / #KASUSD / #ETHUSD / #AAVEUSD / #LINKUSD / #POL / #MATIC / #MATICUSD / #Sats / #Satoshi / #Decentralized / #LINK / #SOL

Bullish divergence is occurring on the weekly VIX chart. This suggests that a bullish breakout, or higher volatility, may be coming. From a seasonality perspective, volatility typically begins to increase by mid-January. #VIX / #VVIX / #Trading / #SPX / #SPY / #SP500

The top 10% of US households own over 90% of all financial assets. This will change once laborers begin to demand their wages to be paid in #Bitcoin. #BTC / #Nostr / #Plebs

Vanguard will not offer its investors the option to invest in a #Bitcoin spot ETF because it wants to maintain the dying #fiat system. #BTC / #BitcoinETF / #Vanguard / #SpotETF / #BTCUSD

#Uranium continues to break out of a log-scale #bull flag pattern on its quarterly chart. By moving from below its EMA ribbon to above, and by confirming that the ribbon has flipped to support, a major trend change has occurred on the highest timeframes. A trend change on this timeframe represents a new supercycle. Similar charts are appearing across the commodity sector, particularly when we measure commodity prices against the money supply. As such, these charts are an inflation warning. From here on out monetary easing will be met with increased #inflation.

Imagine if the U.S. Constitution were a smart contract.

The #Fed is now providing banks free 'money' on top of free 'money'... #BTFP / #FederalReserve / #banks / #banking / #bankruns / #FOMC / #Fiat / #Bitcoin

Banks are now gaming the Federal Reserve's bank term funding program. This borrowing in turn increases the new fiat currency creation. This is yet another example of how the #Fed throws a lifeline to Wall Street banks at the expense of Main Street paying for higher inflation. Link to WSJ article: https://www.wsj.com/finance/banking/the-fed-launched-a-bank-rescue-program-last-year-now-banks-are-gaming-it-43e9cee3 #Banks / #Insolvent / #BankingCrisis / #BankRuns / #Bitcoin / #BTC

Numerous countries' ledgers are overwhelmed by debt. These countries usurp the wealth of their citizens through increased fiat currency creation to sustain these highly indebted levels. Their centralized ledgers are controlled by widespread corruption, with those who benefit the most tightly controlling the nation's money supply. A publicly auditable and fully decentralized ledger is the only solution. #Bitcoin #BTC / Fiat / #Nostr / #Plebs

The last time there was a prolonged contraction of the broad U.S. money supply was right before the Great Depression. Such a contraction has never occurred while global dollar-denominated global debt is so high. #Debt / #Recession / #Economy / #Bitcoin / #BTC

This is why #Nostr is needed... #SocialMedia / #Bias / #Plebs / #Nostriches / #Republicans / #Democrats / #Bitcoin / #Decentralized

It's no surprise that the #labor force participation rate has declined during the era of excessive #monetary easing. The faster new #fiat currency is created, the faster wage earners' purchasing power declines. This in turn acts as a disincentive to work (i.e. to convert one's labor into fiat currency that decays in value). It also acts as an incentive to leave the labor force and live off of financial investments, which hold purchasing power far better than wages. If financial assets inflate faster than #wages, eventually this becomes unsustainable. It creates the labor #scarcity we are now seeing. Since the #unemployment rate does not include persons who are not looking for work, and this cohort of persons continues to grow, it falsely creates the illusion of a robust economy. However, economic growth is far from robust. #GDP growth is barely hanging onto the -2 standard deviation of its long-term mean. The #Fed obfuscates this low growth, even in its real GDP numbers, by using deflator metrics that dramatically understate the rate of new fiat currency creation. Suddenly, this has become a problem for the Fed. With GDP artificially propped up and unemployment artificially understated, the market is demanding far more monetary tightening than the central bank is capable of providing without causing a liquidity crisis. Already a #liquidity crisis is inevitable from all the rate hikes that have occurred. The central bank now finds itself having to navigate an impossible paradox: there's no way to continue engaging in excessive monetary easing while also containing high inflation. Yet, there's also no way for central banks to not continue excessive monetary easing while sustaining extreme #fiscal deficits and highly #leveraged financial markets.

Whenever someone says they're "taking profit" on their #Bitcoin, I feel sorry for them because it means they don't understand Bitcoin well and are still measuring value in perpetually decaying #fiat currency. While selling Bitcoin and then buying it back for less fiat may work on very short timeframes -- if one gets lucky -- over the long term, fiat currency will continue to decay in value against Bitcoin as the supply of fiat moves up exponentially over time while the supply of Bitcoin remains forever fixed.

By approving a Bitcoin spot ETF, the #SEC will facilitate mass adoption of Bitcoin, but it will also pave the road for banks to eliminate self-custody. Portfolio managers will increasingly incorporate these ETFs into their #portfolio holdings, which will increasingly render #Bitcoin an established asset. This, in turn, will impair the government's ability to subsequently ban Bitcoin. Nonetheless, there will come a time when the traditional #banking system fails, and the governments that are controlled by multinational banks will seek to impose a ban on the self-custody of Bitcoin. The mandate will be similar to Executive Order #6102, which banned the self-custody of gold in 1933 to curtail widespread bank failures. The very purpose of a bank is to #custody your assets for you, as this is how bankers siphon off your wealth to enrich themselves. Thus, your ability to self-custody assets is a direct threat to the #banks and they will try to stop you from holding your assets in self-custody. They will use the government to compel you by law to send your Bitcoin to a #FederalReserve bank in exchange for fiat #CBDC or paper Bitcoin (shares of a Bitcoin spot #ETF). This time around, however, bankers (and the governments they control) will be unable to stop the self-custody of #decentralized, permissionless digital money. We've entered an era where many digital assets are being held in the custody of decentralized protocols or #DAOs. These decentralized entities are not fully within the jurisdiction of any government and the protocols that govern their assets are not centrally controllable. This will become a major problem for banks because there is no entity, (no person, no corporation, no governmental body), that they can compel by force to turn over the assets. Banks will soon discover that not only are they unable to control decentralized protocols, but that these protocols will replace them completely. The bank-led government crackdown on #centralized exchanges that we're currently seeing only increases the market share and utilization of #decentralized protocols. The more the government cracks down on cryptocurrency, the more decentralized it becomes, which counterintuitively makes it harder to regulate. Governments will next try to use CBDC to prevent the convertibility of fiat currency into decentralized digital assets. However, this will not only fail in this aim, but it will further destabilize the #fiat system by dramatically increasing money velocity, which is an input for inflation. Although inflation will also increase because of many other causes (e.g. spiraling public debt), higher inflation will bring fiat currency ever closer to the hyperinflationary event horizon. The worse inflation becomes, the less willing ordinary people are to convert their #labor into increasingly worthless fiat currency. As a result, ordinary people will increasingly seek to convert their labor directly into Bitcoin and/or other perpetually scarce digital assets that protect purchasing power over time better than hyperinflating fiat currency. Eventually, cryptocurrency and de-fi protocols will come to be viewed as the natural evolution of financial markets. By restoring hard money, through means of trustless, decentralized, and publicly auditable protocols, de-fi is paving the way for a more stable financial system that is not perpetually plagued by financial crises that are inherent to a trust-based system fraught with counterparty risks. By creating a trustless protocol, the #Byzantine Generals' problem has been solved. For the first time in the history of financial markets, #counterparty risk has been effectively minimized. Counterparty risk is what has underpinned every great financial #crisis in the past.

In the coming global financial crisis, many central banks will begin to adopt #Bitcoin.

Jamie Dimon doesn't want mass adoption of Bitcoin because Bitcoin takes control of money out of the hands of the bankers. #Bitcoin / #BTC / #Nostr / #BTCUSD / #Satoshi

Reverse repos spiked as expected. Typical year-end window dressing. From here on out RRPs will rapidly descend toward zero. #RRPs / #RPs / #FedPivot / #Fed / #FOMC / #MonetaryPolicy / #Recession / #InterestRates

⚠️ The #HYG / #TLT (adjusted) ratio just printed a gravestone doji on the 4-month chart. All oscillators on this timeframe are as over-extended as they've ever been. A reversal is likely coming in 2024. This is a major #recession warning. This ratio tops in the lead up to an economic recession, and it bottoms near business cycle lows. This chart is warning that we're likely near a major market top. #Bonds / #Treasury / #Fed / #FOMC / #InterestRates / #AAPL / #TSLA / #MSFT / #NVDA / #Recession / #Stagflation / #Bitcoin / #Trading / #Investing / #Gold / #Nostr