I suspect GALA/USDT has bottomed, and is looking to break out of a 7 month accumulation range. With BTC and Eth turning up the heat, a return to easing by the federal reserve, and the fact the China’s economy is starting to get back on its feat all points to a massive deluge of liquidity entering the crypto markets.
In otherwards, barring a black swan or recession, the Macro agrees with the charts.
More on the macro front:
Declining trust in existing institutions, both national and international.
-persistent inflation, and the attempt to manage expectations hurt perceptions about * currency domestically; This also hurts the credibility of experts.
-Weaponization of the SWIFT system (tariffs, sanctions, seizures… etc) which incentivizes * everyone to diversify out of dollars. Even France and ally wants out of dollars.
-Both of these are major reasons gold is going up so fast the dollar system is in serious * trouble, but it won’t disappear overnight, it’s a process that could take decades.
Gold as a replacement? Possible but unlikely.
-Gold is trustless, unless it’s been lent or borrowed, which makes it a viable choice to serve * as a settlement medium.
-Gold must be physically moved to achieve settlement, This occurs one way or another, * unless some kind of third party holds all the gold and issues a common exchange * currency. Even then, that currency will need to be settled, but that can be done digitally.
-i’ve been holding physical gold and silver for 6 years, as well as some miners.
Rapid adoption of Blockchain technology in the FINtech space.
-Amazon cloud, Black rock are just 2 massive names quitely entering the space. They are * not just producing ETFs either. Blackrock is looking into tokenizing real world assets, and * large data brokers are partnering with projects like LINK. LINK acts like a highway * between the world wide web and the blockchain. In other words its digital infrastructure.
Whats this got to do with Gala? Like i said at the outtake, liquidity is coming, dollars will get borrowed into existence and M2 will rise as the federal reserve eases. Meanwhile everyone is trying to get out of dollars, at the same time a trustless digital protocol is on the rise. efficiency boxes gold out of the conversation but doesn’t eliminate it. Most importantly a rising tide lifts all boats so as crypto pumps, so will gala, a token which is still near cycle lows.
