Why is it that bitcoin and other cryptocurrencies have declined in response to the inflation rate rising? Should the response be the other way around? Bitcoin is anti inflationary so it makes more sense to use bitcoin to protect the value of your bitcoin. So, why was the response like this? What do you think so?
I wouldn't put too much on this factor. I mean we have been in at least 3 bull runs already, at least some of us, so if ever the price during this run hits a snag because of some news, then it's not that it will be the end of us. It will just be temporary and once it settled again, the price is going to go up parabolically and we will see a new all time high. People should not panic about what the FED is going to say, sure it has some negative effect on the whole market because they're responsible for the monetary policy of the US. But other than that, we shouldn't take the news very seriously. If we did then we will panic sell every time we hear negative news from them. So let it simmering down and in just a week or two we might be back again.