But my opinion is that right now it's not the best time to buy bitcoin and it will go lower because of some reasons. The main reasons for me are that the inflation is still too high, the economy is suffering and rates are still high. There is also a statistical fact that all previous times when FED pivots happened, the economy dipped even lower and found a new bottom. We still didn't see this fallout so it's safe to assume that it's coming.
Latest statistics also showed that inflation is higher than expected and FED could start hiking rates once again.
My advice will be to wait until FED will start lowering rates which will mean that the economy will start recovering and money will flow into crypto and bitcoin.
Anyway, keep safe and don't panic, we will get through it.
What if more people still hold during the high inflation, despite the population suffering in every economy there are still thousands who live comfortably. Don't forget inflation is manmade. The little amount we retail investors own is not enough to decide the direction of the market. In previous times the FED pivot could affect the market because the trend was in sync with the interest rates on reserve, interest rate target, bank rate and everything else. But i doubt such will repeat it self in this current investment year. Currently price has bounced back above $20kLatest statistics also showed that inflation is higher than expected and FED could start hiking rates once again.
My advice will be to wait until FED will start lowering rates which will mean that the economy will start recovering and money will flow into crypto and bitcoin.
Anyway, keep safe and don't panic, we will get through it.