The fact #bitcoin isn‘t getting completely obliterated given Powell just basically said „Yes we still need to print now but before anything happens with inflation we‘ll hit the breaks hard“ is certainly a silver lining.
It will depend a lot on how markets read the Fed‘s communications tomorrow, when the dust settles, but in case they go with „ok it‘s confirmed, the Fed will be less expansive soon to avoid inflation“, I think $40k is totally doable here. #bitcoin $BTC
Not advice.
FWIW the likeliest outcome is investors decide tomorrow not so much changed after all & all those tech stocks seem quite a bit cheaper now.May see a good reaction in $BTC as well. Just definitely a warning:we‘re much closer to the end than the beginning & the end may have started
While #tether not immediately being wound up now, Yellen speaking negatively or Square buying definitely impacted price this week, there is a larger picture we should bear in mind & watch closely:
Due to other news in cryptoland, the larger macro picture (which, IMO was and is the main driver of #bitcoin since March 2020) has been a bit under the radar.
There are several future uses of the #bitcoin#blockchain, but it's current main use is vaccuuming up USD the Fed prints
$BTC is perfect for it. It is digital, fast (in comparison to Gold), very hypable and it has absolutely no intrinsic value yet without the speculation around it. So when the Fed started printing in response to #COVID, in order to prevent a new Great Depression, it rallied.
We can obviously continue to dip endlessly more and #bitcoin usually has a second shoe drop after the first one, but as I said about 1 hour ago, I do not personally believe the bull market is over and leverage desperately needed to be re-set. And it has.
#tether premium and leverage premium both went from $400 and more to negative so the initial speculative "excess" has been eliminated. I am good with being long now.
None of this is advice. I use low leverage and I do not invest more than what I am able to lose. DO NOT COPY.
These two tickers have been extremely helpful in understanding how to time dip buying and how long to stay short.
Article contains some more info. NEVER ADVICE:
#tether premium & leverage premium in #bitcoin are huge atm.
So much fuel for more dump.
Never seen this correct so fast. Literally dumped from $52k to below $47.5k in seconds after I had typed this up. #bitcoin leverage should now be broadly re-set.
As expected. Financing can still be cheaper of course, but the speculative excess has been cleansed entirely and funding is back to normal. #bitcoin
#crypto is in a raging bull market because of the Fed. It‘s not because #Defi or $DOGE all of a sudden have any real use. #Yieldfarming is the definition of a pyramid scheme. Just want to disillusion you
Some interesting crypto uses today:
#bitcoin is indeed becoming a highly volatile investment product that institutions are looking at due to the abundance of liquidity. It remains to be seen what is left when the Fed ends QE. Also, $BTC can act as money in unfree societies which is really cool...
...#ethereum, with all its scalability issues (if you think using a network with $150 per tx will become mainstream once the Fed stops printing buy the proverbial bridge), is showing how #crypto can replace clearing houses, how applications can run decentrally, how tokenizing...
ICYMI The $GME ripple effect was so strong that clearing houses (those insitutions that ensure when two sides trade, both get the asset or the cash) were unable to deliver stocks for a short period of time. That is the reason they increased margins for brokers, which is...
... the reason that #RobinHood had to restrict trading (along with other brokers) as they could no longer afford the margins at clearers. This is the only reason trading was restricted. Regulators really not doing themselves a favor by repeating "will protect small investors"...
... all the time. This was a move that was necessary to protect the entire financial market from collapsing. Not more and not less. It was not an attack on small traders nor a support of HFs. It also did not stop the bleeding. FWIW professional investors were also unable to...
2/3 aller #Corona Toten kommen aus Pflegeheimen. 90% sind über 70 Jahre.
Seit Januar 2020 gibt es das Virus. Erst Januar 2021 (!) wurden FFP2 Masken und Schnelltests zur Pflicht in Pflegeheimen.
Immernoch gibt es keine Schnelltests für jedermann. Das Versagen ist enorm.
Statt Schnelltests breit anzubieten und jeden (!) durchführen zu lassen und die Menschen nicht mehr einzusperren machen wir #lockdown für alle für immer bis alle geimpft sind und wenn mutiert wird sperren wir eben #alternativlos alle wieder ein. Das ist so beschämend.
Man könnte 2/3 aller Toten (!) verhindern indem Schnelltests nur in Pflegeheimen ständig angewendet werden. Jeder kann sie durchführen, ich tue es privat seit 3 Monaten. Es ist unsagbar einfach. 100% Sicherheit gibt es nie, wir könnten ein normales leben führen. #covid#corona