President Joe Biden has withdrawn his nomination for re-election in November and endorsed vice-president Kamala Harris as his replacement. No matter your politics, you have to respect the man for putting the needs of his country first.
Bitcoin welcomed the news by rallying to $68K.
Conclusion
Bitcoin is headed for a test of resistance at $72K, signaling risk-on for financial markets.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients.
Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter.
Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.