Specialising in Bitcoin, Gold and Digital Assets

ByteTree Asset Management

Investment Manager specialising in bitcoin, gold and digital assets

CEO, ByteTree Asset Management

Crypto

<p>Yesterday I spoke with&nbsp;Keith Weiner, founder of Monetary Metals. He’s well versed on gold but a bitcoin sceptic, at least in the sense that it won’t supersede gold as the leading monetary asset. I asked him for his price forecast for gold and bitcoin over 1, 10 and 100 years in an attempt to frame his views.<br><br>On gold, he felt it would be higher next year. Over ten years, he felt the dollar would be worthless, which implies gold would be the must-have asset. If that major event would be true within 10 years, the 100-year view becomes irrelevant.<br><br>On bitcoin, he gave it a kicking, but more that it wasn’t gold, nor ever would be, as opposed to thinking it was structurally worthless. With a computing background, he had respect for the tech and the crypto vision, just that gold would remain gold, and that was that. It was a great conversation which you can watch&nbsp;here.<br><br>If you don’t have the time, our monthly&nbsp;BOLD Chartbook&nbsp;covers much of the ground in the world of gold and bitcoin.<br><br>In other events, the Ethereum (ETFH) Merge went ahead without a glitch. They say it’s better to travel than arrive, and ETH duly fell 10% on the good news. That’s markets for you.<br><br>The&nbsp;ByteTree research machine&nbsp;covered&nbsp;Cosmos (ATOM), a platform that offers interconnectivity between blockchains. There will inevitably be many blockchains in the future, and these sorts of connections will be hugely valuable. ATOM has already done twice as well as ETH since May.</p>
<h3>ByteTrend: Cosmos (ATOM) 5-Star Bullish Trend in ETH</h3>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/298/528/original/image_55427990421663360968040.png?1663360970" class="editor-image img-responsive" data-smartkarma-image-id="298528"></figure>
<div class="content-caption">Source:&nbsp;<a href="https://bytetree.us3.list-manage.com/track/click?u=a4a4461fba9ee073aaefd6019&amp;id=ea87921871&amp;e=7c019babf2" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://bytetree.us3.list-manage.com/track/click?u%3Da4a4461fba9ee073aaefd6019%26id%3Dea87921871%26e%3D7c019babf2&amp;source=gmail&amp;ust=1663447271708000&amp;usg=AOvVaw0Z2LcVzWnzSKrOXVR4XaI8" rel="noopener">ByteTree Terminal</a></div>
<p>Just imagine a world where computers are chomping away with one another 24/7 while being able to trust one another, which with North Korean viruses they currently struggle with. ATOM is&nbsp;one of the 10 holdings&nbsp;in&nbsp;ByteFolio, having sold two last week.&nbsp;<br><br>In&nbsp;ATOMIC,&nbsp;asked why “Uptober” is such a strong month for bitcoin. No one seems to know, but the good news is that it is just two weeks away.</p>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/298/529/original/image_31913521631663360999658.png?1663361001" class="editor-image img-responsive" data-smartkarma-image-id="298529"></figure>
<p>Last week I mentioned the banks were looking perky. It’s one of the few sectors that enjoy higher rates and doesn’t seem to mind inflation. Well, they broke out nicely against the world index. At this rate, they’ll soon be the new oil trade. And no one seems to own them – a bit like oil earlier this year.</p>
<h3>ByteTrend: US Banks Relative to the World Index - 5-Star Trend Score</h3>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/298/530/original/image_98025686341663361022432.png?1663361023" class="editor-image img-responsive" data-smartkarma-image-id="298530"></figure>
<div class="content-caption">Source:&nbsp;<a href="https://bytetree.us3.list-manage.com/track/click?u=a4a4461fba9ee073aaefd6019&amp;id=4b4bba60c5&amp;e=7c019babf2" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://bytetree.us3.list-manage.com/track/click?u%3Da4a4461fba9ee073aaefd6019%26id%3D4b4bba60c5%26e%3D7c019babf2&amp;source=gmail&amp;ust=1663447271709000&amp;usg=AOvVaw3ZjZvMolKPtuBvbIz1qsSw" rel="noopener">ByteTree Terminal</a></div>
<p>Here in the UK, we have a National Day of Mourning on Monday for the state funeral of Queen Elizabeth II. May she rest in peace. Long Live the King.</p>

Yesterday I spoke with&nbsp;Keith Weiner, founder of Monetary Metals. He’s well versed on gold but a bitcoin sceptic, at least in the sense that it won’t supersede gold as the leading monetary asset. I asked him for his price forecast for gold and bitcoin over 1, 10 and 100 years in an attempt to frame his views.  On gold, he felt it would be higher next year. Over ten years, he felt the dollar would be worthless, which implies gold would be the must-have asset. If that major event would be true within 10 years, the 100-year view becomes irrelevant.  On bitcoin, he gave it a kicking, but more that it wasn’t gold, nor ever would be, as opposed to thinking it was structurally worthless. With a computing background, he had respect for the tech and the crypto vision, just that gold would remain gold, and that was that. It was a great conversation which you can watch&nbsp;here.  If you don’t have the time, our monthly&nbsp;BOLD Chartbook&nbsp;covers much of the ground in the world of gold and bitcoin.  In other events, the Ethereum (ETFH) Merge went ahead without a glitch. They say it’s better to travel than arrive, and ETH duly fell 10% on the good news. That’s markets for you.  The&nbsp;ByteTree research machine&nbsp;covered&nbsp;Cosmos (ATOM), a platform that offers interconnectivity between blockchains. There will inevitably be many blockchains in the future, and these sorts of connections will be hugely valuable. ATOM has already done twice as well as ETH since May.
ByteTrend: Cosmos (ATOM) 5-Star Bullish Trend in ETH

Source:&nbsp;ByteTree Terminal
Just imagine a world where computers are chomping away with one another 24/7 while being able to trust one another, which with North Korean viruses they currently struggle with. ATOM is&nbsp;one of the 10 holdings&nbsp;in&nbsp;ByteFolio, having sold two last week.&nbsp;  In&nbsp;ATOMIC,&nbsp;asked why “Uptober” is such a strong month for bitcoin. No one seems to know, but the good news is that it is just two weeks away.

Last week I mentioned the banks were looking perky. It’s one of the few sectors that enjoy higher rates and doesn’t seem to mind inflation. Well, they broke out nicely against the world index. At this rate, they’ll soon be the new oil trade. And no one seems to own them – a bit like oil earlier this year.
ByteTrend: US Banks Relative to the World Index - 5-Star Trend Score

Source:&nbsp;ByteTree Terminal
Here in the UK, we have a National Day of Mourning on Monday for the state funeral of Queen Elizabeth II. May she rest in peace. Long Live the King.

Gold and Bitcoin in a Year, 10 Years, 100 Years?

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Gold and Bitcoin in a Year, 10 Years, 100 Years?