the noon wall report
bitcoins price is up this morning on heavy volume and is currently trading near $19.3kish
central banks around the world continue to raise interest rates with the Bank of England saying the country is now in recession
the Swiss also raised rates by 75bp pulling out of negative territory for the first time since 2015
the yield curve on the 10yr>2yr tbill is inverting with heavy front loading on the short term
all dire warning for the legacy markets imho
what does this mean for bitcoin? well...im not sure...conventional wisdom would suggest there could be further capitulation as fiscal tightening is felt across the economies
it could also be that people realise bitcoin might be one of the only safe havens over the next several years...even better...realise that the power nation states have over your financial sovereignty must be curtailed no matter the cost
I also think that bitcoins general adoption and specifically institutional in '23....as these hedges become better positioned, will carry bitcoin past the worst of things if there is a significant recession globally
there is only twenty one million...and a lot of people are starting to want one
so there is that
dyor
4h
D
stronghands