Re: Bitcoin dumped to $89k then pumped to $97k the next day - the reason why
This is the reason why I believe caused it to come out of the ashes of misery yesterday:
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.
Here is the complete article:
https://www.altcoinbuzz.io/cryptocurrency-news/meta-advised-to-bet-on-bitcoin-for-inflation-hedge
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.
Here is the complete article:
https://www.altcoinbuzz.io/cryptocurrency-news/meta-advised-to-bet-on-bitcoin-for-inflation-hedge
It is not intended to say that because this is the cause of the price back up again after the price dropped below $90K. If anyone asks me back what makes the price go back up, I also can't give an exact answer what is the cause.
I try to think that it is the cause of price increases with the assumption that it is positive news. In every positive news to Bitcoin, the impact on the increase can occur. I have observed some moments behind the price increase. If the FUD is hard distributed, the negative effect on the price also occurs.
I confirmed that what was meant by the contents of this request was because Bitcoin was a hedge for inflation that would occur.