Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
goldkingcoiner
on 13/06/2022, 18:25:54 UTC
⭐ Merited by JayJuanGee (1)
Looks like we got some capitulation today.  Volumes are spiking up to near the Do Kwon disaster now and it appears the worst is behind us (for now).  The dead cat bounce to $24K doesn't appear to be holding, so I expect we'll do some testing of these new recent lows.  With Binance resuming withdrawals though, it seems like today's low may finally be in after a night of crypto being ravaged.  Stocks are taking a hit as well, so it begs the question of if the Fed will continue raising rates and winding down their balance sheet.  Unless they're pivoting to a new strategy, I expect we'll hear some news about backing off their plans this week.  After living through the 2008-2012 period, I expect billions of dollars in stimulus to be announced anytime the market shows disapproval of the Government's actions.  In this case though, we may need Fed action as the government appears to be backed into a corner.

What happened to the Bitcoin price after stimulus? If anything, short term; the price going to be dragged down by the uncoming inflation from the government taking on more debt. Long term; that inflation will work to Bitcoin's advantage, I would say, as more people start investing in Bitcoin to escape the fiat inflation.

Sound about right?