Hello guys, I'm looking at some things about bitcoin and I found it very interesting why does inflation influence bitcoin?
The PCE is still above the 2% target the US Federal Reserve is using to benchmark tightening effects. The central bank has brought the Federal Funds rate to between 5.25 and 5.5% since March 2022, which has seen prices in most sectors cool off significantly, except for shelter.
The US Treasury plans to announce its borrowing plans for 2024 on Jan. 31, 2024. Higher government borrowing can signal that the government is willing to take on more risk and lower the appeal of government bonds since more debt increases the chances of a default. As a result, some investors could choose Bitcoin.
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https://beincrypto.com/us-inflation-fed-influence-bitcoin-price/Well, things can work like this, I like that the largest and most influential economy in the world has to verify that the best solution to inflation is Bitcoin, the results of the price can be considerable now, but it has been stated that always in any event, the The best alternative is Bitcoin, the Adoption is evident, and I think the price of Bitcoin may rise in about 3 months or something , due to the Halving effect.
Now yes, there are many analysts who are quite effusive about their analyses:
“Unless Bitcoin reclaims the 42K (HTF), this is nothing more than a lower high, in my opinion. <…> Everything below 48K can be used as fuel to recharge short positions,” he said.
In this context, JPMorgan (NYSE: JPM) strategist Nikolaos Panigirtzoglou suggested that the Bitcoin sell-off might be nearing an end, stating that the “GBTC profit-taking has largely happened.”
Meanwhile, BlackRock’s (NYSE: BLK) Bitcoin ETF is poised to achieve a noteworthy milestone by surpassing $2 billion in assets under management. The firm’s latest product is maintaining its dominance in the emerging category of ETFs, which is viewed as a positive sentiment for the market, considering BlackRock’s status as the world’s largest investment firm.
Notably, at the start of the week, Bitcoin experienced a significant decline, dropping below $39,000 for the first time since early December. Interestingly, several analysts had projected that the sell-off might extend further to the $30,000 level, and therefore, the ongoing rebound could be welcomed news for the market.
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https://finbold.com/analyst-identifies-key-price-level-to-validate-bitcoins-bullish-scenario/I like to hold on to the good things that can be presented here, in what can happen I do not lose faith in good analysis, I think that right now what there may be are high expectations about the price, I do think that it will rise a lot this year, and that in a matter of a few months we will have a very high Bitcoin price.
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