Feels like the market shifted gears a bit and decided it’s time to head back up. I’m guessing in anticipation of a positive interest rate decision (lowering rates). Sort of makes me wonder if we’re going to see a sell the news event as a result. In any event, I’m glad we’re seeing the price go up and if gold and silver are any indicator, we’ll be in new high territory before too much longer.
Bitcoin is doing bitcoin things.
First, all the negativity.
Now, with 25 bps priced in, I see the FED decision as a sell-the-news event, unless JalwayslatePowell delivers something more: 50 bps cut or more: knee-jerk reaction buy.
I never thought the Central Bankster would play a direct role in the bitcoin price, but I guess it's temporary.
I sort of feel like a 50bps cut is getting priced in as we speak and by next Wednesday the price will be higher, making a 75bps hike the requirement for a knee-jerk buy. If gold and silver keep rallying though, the big story might not just be interest rates next week. The market might be speaking louder with pricing.