I'm not trying to scare you, but look at the chart above. Since Trump has taken office, this chart looks just about the same for every currency you can imagine. What it's showing is that the US Dollar is in a protracted decline if not outright freefall against every other currency out there.
Does this mean the days of the dollar are numbered? I don't think so, but anyone who relies on the US Dollar should be weary and expect a very bumpy ride for perhaps the next 4 years. The fact is, Trump might turn out to be an alright president, but his foreign and economic policies spell trouble for your future purchasing power if you keep everything in dollars.
I've been in bitcoin since 2009, but started getting serious about it in 2012. Because I've always used bitcoin as my daily currency, I haven't managed to accumulate much. But I've thoroughly enjoyed this most recent bull market as investments I made 2 years ago have returned 400x what I put in.
However, I've noticed that Bitcoin follows a pattern where it climbs to near gold parity and then crashes back down and right now Gold is trading at $1254 and BTC is $1184. So acting out of an abundance of caution I've decided to exit BTC when it touches Gold again and then I plan to buy back in as it bottoms out. I'm not psychic, but I believe this bottom will be in the upper $800 to lower $900 range. But that's all speculation and the only reason I'm even bothering to tell you any of this, is because of a piece of advice someone wise once gave me.
If you're all in on anything, you're all wrong.
This is true of dollars, bitcoin, even gold. Prices fluctuate and move around, but historically speaking the purchasing power of any currency tends to go down. I want to hedge against that as much as possible. So I'm seeking a mix of assets that should provide stable long term growth while giving me the best possible shot at catching the inevitable climbs of some currencies, without over exposing myself to risk, or diluting my returns by not accepting enough risk.
To that end, I've been working towards establishing my portfolio as a mix of 50% core cryptos, i.e. 50% of what I own are in the coinmarketcap.com top 10. The other 50% are divided into market pegged currencies of various kinds. Ideally I want a selection of currencies that hold their value well. To this end, I've decided to go with SBD for 30% of my funds and then seek out a solid market pegged currency that is based on precious metals such as gold.
With the US Dollar entering a freefall and bitcoin coming dangerously close to it's next major crash, I know it's imperative that I act sooner rather than later.
And after searching for some time, I discovered the strangest thing...
I already own the best gold pegged monetary instrument there is!
What? Yes, as someone who signed up for steemit back before the launch of Golos, I was pleasantly surprised to find that in addition to steem, I also have a currency called golos. Where steem has Steem Dollars, the Golos team decided to create Golos Backed Gold, or GBG. Each unit of GBG is pegged to 1mg of XAU (Gold).
And looking back over the GBG charts, it's held it's peg extremely well all things considered.
The neat thing is you probably do too. Golos forked from Steemit some time ago, but if you've had a steemit account for awhile, you probably have a golos account too. So stop by golos.io/@yourname and see how your secret account is doing!
This post is 100% steem powered!