To make things worse, the perfect storm is complete with the Ukrainian war and Europe's dependency on Russian energy. Ask the Germans for example.
So what happens to Bitcoin if the situation goes out of control?
There is a previous, very real very bad example of a small European nation going bust: The 2012–2013 Cypriot financial crisis. Also known as the 'Cypriot Haircut':
No insured deposit of €100,000 or less would be affected, though 47.5% of all bank deposits above €100,000 were seized. They said it was exposure to Greek debt but in reality it was an attack on Russian money being laundered in the island.
This is what happened to Bitcoin then:
In other words: situation is becoming scary in Europe. Bitcoin could be a good way to prepare for the worst.
That's my personal opinion. Let me know your thoughts.
One Love,
the FXPROFESSOR
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Waiting for the next systemic risk to arise... this chart will be very important soon
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Just a little update and a little reminder of Bitcoin magic. Is this a new breakout now towards 46k? Very possibly yes
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Revised fxprofessor mega chart
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update
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Just an update on the way to 40k. chart has worked perfectly
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