And, just as observed a few months ago (July/August jobs report I believe?), after the stumble in price right after worst-than-expected figures, after half a day price has actually clambered back ABOVE day's start.
Makes one wonder, what happens when we finally get a report with figures
better than expected.
Just explain this to me please anyone. How even in a normal scenario will inflation in fiat markets effect bitcoin negatively.
When inflation rate is high, federal reserve may increase the interest rate to control money supply and decrease the inflation rate.
Given the current high inflation rate, it's expected that federal reserves increase the interest rate by 75 basis points in their next meeting. This is affecting all the markets including bitcoin.
And because interest rates are so high, wealthy are converting to cash, short term deposits earn guaranteed profit while being highly liquid. Virtually zero risk dollar wealth growth. And when you consider how other major and minor currencies are currently plumbing decades low vs dollar, USD's never been so attractive in my lifetime.