Bitcoin will be back, of course. I mean.... it's still $19,000 ffs. That's incredible. New "ATH's" ahead, especially if you're measuring in inflationary fiat.
The fed hasn't raised rates since 2008 - it has been 14 years since we've been in this mess of "cheap money".
This "cheap money" pumped Bitcoin to all time high during the coronavirus since investors were looking for risky assets.
Now people don't even want to hold stocks, they'd rather go for bonds, enjoy the yields instead of watching their investment crashing to pieces.
Bitcoin cannot go up if the rates keep on going up - the dollar is the best bet here.