If you don’t know by now that Facebook released its libra whitepaper on Tuesday, you’re living under a rock. What you may not know is that bitcoin shot up on the news. That’s because libra gives credibility to the cryptocurrency market, much like AOL did when it first brought email and the internet to the masses.
But that doesn’t mean it’s going to be all sunshine and flowers from here on out. Just like AOL, Facebook faces a storm of lash backs and push backs from across the board. Regulators. Governments. Central banks. Cryptocurrency players. Citizens concerned with Facebook’s growing involvement in every aspect of our lives.
Ultimately though, libra will be a win-win and bitcoin will likely hit my target of $32,000 this year or early next year still… a forecast that Fundstrat Global Advisors co-founder Tom Lee concurs with.
So, in today’s video, I discuss why I believe libra is a positive and what I expect we’ll see next in this arena. I also explore what’s going on with the Fed’s latest rate decision (to stand pat), and why I believe we’re entering the third wave of the Dark Window.
I will be emailing Boom & Bust subscribers on Monday with an update on the current shallow correction, and where we stand in the two possible scenarios ahead. Make sure you don’t miss it.
This is a big week in The Rich Investor. Chief Retirement Strategist Charles Sizemore will be talking about the potential end of the bull market… why big tech stocks are the key… and how to build a recession-proof portfolio for when it does happen.
Charles kicked off the week with a great Q&A video discussing how things are starting to change and what you can do about it.
If you missed this video, click here to watch it now. Then tune in all week to The Rich Investor, usually hitting your email inbox before 11am ET.