Financial markets are reacting negatively to the new BLS jobs report that was somewhat mixed. Notice how the DXY appreciated while #Bitcoin price went down around its release. 
This shows once more that, even if we don't want it to be true, $BTC is not isolated from what is happening in the economy or what the FED is doing. Particularly the fact that Bitcoin is moving down with stocks etc., is somewhat concerning.
While I don't believe the FED will go through with their plans to actually taper, as this likely would be followed by a strong reaction of financial markets, I think it is important to think about what happens if they go through with it.
So far, #Bitcoin has lived through a phase of continuous support of financial markets by central banks. If the FED actually tapers #Bitcoin would likely also be in for a rough ride and would be negatively affected, no matter how strong the on-chain fundamentals are right now.
It would likely completely change the game, the cycles Bitcoin goes through etc.
Again I think it is unlikely that the FED will actually go through with their plan, but in the case, they do I think it is crucial to think about what this might mean for Bitcoin.
Again I think it is unlikely that the FED will actually go through with their plan, but in the case, they do I think it is crucial to think about what this might mean for Bitcoin.
I also just published a slightly shorter version of the thread as a @cryptoquant_com QuickTake.
cryptoquant.com/quicktake/61aa…
cryptoquant.com/quicktake/61aa…
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