Mish

[Crypto Rover @cryptorover]

🚨 THIS IS THE BIGGEST STORY RIGHT NOW

And very few people are paying attention to it.

It's not the US-Iran war.

It's not the Gulf states considering new pipelines to avoid the Strait.

It's "Iran threatening the Petrodollar status."

Iran is now asking for ships to pay in crypto or Yuan to pass through Strait.

And this isn't a small thing.

The primary reason behind dollar dominance is oil trades.

Almost 80%-85% of global oil trades are settled in dollars.

This is the reason countries hold dollars and invest in dollar-denominated assets.

Look at Japan, Singapore etc. who hold a massive portion of their reserves in dollars.

But this could now change.

The Strait of Hormuz is responsible for 20%-25% of global oil supply.

For Japan, 70%-80% of its oil supply passes through the Strait of Hormuz.

For Singapore, 65%-70% of its oil supply passes through the Strait of Hormuz.

The same is true for many Asian and European countries, most of which have only a few weeks of oil supply reserves.

So now they have just 2 options:

Either support the US and let their economy go into recession due to energy crisis

Or pay in crypto or Yuan to let their ships pass through the Strait.

I think countries will choose the 2nd option but how will they fund it?

BY DUMPING US DOLLARS.

And when this happens, US bond yields will spike violently.

US debt is already above $39T and if yield spikes with declining foreign demand, the consequences would be brutal for the economy.

[Mish @Michell22705152]

@cryptoknight890 NASDAQ

[Mish @Michell22705152]

@Roman_Trading Include the wicks, that is misleading

[𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 @el_crypto_prof]

#Altcoins

The craziest Altcoin-Season is upon us and the majority are acting as if the bear market has already begun.

2017 once again. It's just all bigger.

[Mish @Michell22705152]

@SatoshiFlipper How funny, I’ve signed up to be an Uber eats driver to free myself from full time work and have more time trading, I’m not rich yet but I plan to be

[Mish @Michell22705152]

@rovercrc It’s a long not short

[Mish @Michell22705152]

@SatoshiFlipper I agree, however so did the etf

[Mish @Michell22705152]

@rovercrc If you include the wicks it isn’t. A bias chart!

[Mish @Michell22705152]

@elonmusk So dumb and their in leadership?!

[Mish @Michell22705152]

@meelonmuskusa 3. Or 1 but only half full

[Mish @Michell22705152]

@rovercrc It’s possible, the rsi on the weekly and monthly showed bearish divergence. I hope not though

[MDX @MDXreal]

I'm long from $61,998 💰 #Bitcoin

I'm going to give all the profit to someone who retweets this message and likes the post (must be following me so I can dm you if you win!)

[Mish @Michell22705152]

@rovercrc You already got a Lamborghini this year, don’t buy a car! Invest it and then buy a house

[Mish @Michell22705152]

@Ashcryptoreal Didn’t you have a stop loss

[Mish @Michell22705152]

@TylerSCrypto Maybe it’s not a bull trap

[Mish @Michell22705152]

@CryptoGodJohn I’ve done two scalps 🤑

[Mish @Michell22705152]

@Traderxaryan I can’t give up, trading is fun! ❤️🎉

[Ash Crypto @AshCrypto]

Today was a good trading day.

To celebrate the $65,000 Bitcoin
pump. I will give $1000 BTC to one
person in next 48hrs. Just retweet
and make sure you are following me.

[Mish @Michell22705152]

@MDXcrypto Sell, there is a bearish retest on a flag on the hourly chart. Only short for a short term hold tho

[Mish @Michell22705152]

@SatoshiFlipper I feel like a correction would be healthier