Bitcoin price. Inflation persists.

[crypticj]

Hello crypto bros.
I made a post couple of days ago talking about the best time to invest in bitcoin and I mention that inflation still looks bad and we shouldn't expect the economy AND bitcoin price to get better anytime soon.

Today I want to make an update on the inflation and job reports.
The economy added 311k jobs which are way higher than expected. And it's bad for inflation cos we don't see softening in the labor market.

This is very important because it's another indicator that inflation is still pretty high and the next time when FED will be considering how high they should rise rates, they will be analyzing this report. It means that probably FED made a mistake and started FED pivot pretty early.

What does it mean for bitcoin?
I still stand by my words that until inflation won't get better -> FED will keep rising rates -> which will damage the economy and stock market -> bitcoin will suffer too.

So I still think that bitcoin will stay below 22k for a pretty long time and the signal that it will change will be much lower inflation and lowering of the interest rates.

Just wanted to give you this quick update, stay safe bros.

[Don Pedro Dinero]

What does it mean for bitcoin?
I still stand by my words that until inflation won't get better -> FED will keep rising rates -> which will damage the economy and stock market -> bitcoin will suffer too.

Not necessarily. If Silicon Valley Bank triggers a Lehman Brothers moment and everything starts to go to shit, they will eventually have no choice but to change monetary policy. There are many interrelated pieces on the board.

On bitcoin, it is curious that many of us thought that in principle moments like this would make it go up, but in the end, the price of bitcoin is measured in fiat today, mainly in dollars, and if there are fewer dollars available to invest because of tightening, in the end less goes into bitcoin.

[EarnOnVictor]

The US economy is no doubt important to gauge what would happen in the financial market as the USD is the dominant currency. However, you should note that the mere 311K gain in the labour force is only with the Non-farm sector and even lower than the previous 504K, but only slightly higher than the expected value by the economists.

Despite this, it doesn't have weighable implications on inflation. What to consider more are the values of the Average hourly earnings and the overall unemployment rate that came negative to the US economy, which is a woe to the USD and advantages to the risk-on markets of which Bitcoin is part.



And if you want to know the news that is direct inflation gauge, you might want to watch out for the following:

1. CPI
2. PPI
3. PCE
4. PMI
5. Retail sales

[Ataiwo913]

Bitcoin price fluctuates because there is no clear underlying reasons for the price to go up or down. For instance, if a new product is released and people rush to purchase it, the price will go up because more demand for that product exists than supply. If demand for bitcoin falls, it might result in a rise in price as people sell their products at a reduced cost.

[Lucius]

Hello crypto bros.
I made a post couple of days ago talking about the best time to invest in bitcoin and I mention that inflation still looks bad and we shouldn't expect the economy AND bitcoin price to get better anytime soon.

So why didn't you continue the discussion in that thread? In fact, you are paraphrasing yourself and you haven't written anything new that you haven't already written. Inflation is something that we all feel on our skin, so why keep repeating the same story as if it will make inflation disappear?

So I still think that bitcoin will stay below 22k for a pretty long time and the signal that it will change will be much lower inflation and lowering of the interest rates.

Two days ago you were convinced that the price of BTC would even go below $15k, now you claim that it will be below $22k for a long time, and if in a few days the price is higher than $22k, then you will open a new thread and write something like "I think the price will stay below $24k for a long time..."

I was saying this before and I will say it again: bitcoin will go down and it MIGHT even go lower than 15k.

[Husires]

In any case, we all know that in the normal situation, returning to above 30K is not what will happen, and therefore staying within 15K to 20k is still good, and it is the same as the previous bottom, which was about 3000.
Fears of inflation and raising interest rates are no longer the main driver of the market, so their impact is about the first 3 weeks before and after the announcement.
So the effect will be from March 10 to mid-April.

[fzkto]

In any case, we all know that in the normal situation, returning to above 30K is not what will happen, and therefore staying within 15K to 20k is still good, and it is the same as the previous bottom, which was about 3000.
Fears of inflation and raising interest rates are no longer the main driver of the market, so their impact is about the first 3 weeks before and after the announcement.
So the effect will be from March 10 to mid-April.

I don't think it's about whether bitcoin can recover above 30k or even 25k. The price went up by more than 50% when bitcoin recovered from 15k to 25k. That said, inflation hasn't gone anywhere. So I think a rate hike will not have as much of an impact as it did before. Other than that there is a lot of negativity around crypto, the most recent being the USDC issues.

[crypticj]

What does it mean for bitcoin?
I still stand by my words that until inflation won't get better -> FED will keep rising rates -> which will damage the economy and stock market -> bitcoin will suffer too.

Not necessarily.

Unfortunately, bitcoin is closely correlated with Nasdaq. When you look at the graphs you will see that bitcoin mostly moves in the same direction as the stock market. And I don't see any reasons for it to chance in the near future.

the price will go up because more demand for that product exists than supply.

It's literally how prices on everything work, but it's not that simple. I highlight the reason why bitcoin won't go up until the economy will get rid of the existing problems and inflation is one of them (and the big one).

If demand for bitcoin falls, it might result in a rise in price as people sell their products at a reduced cost.

No, if demand goes down and supply up, the price goes down as well.

[Lucius]

Unfortunately, bitcoin is closely correlated with Nasdaq. When you look at the graphs you will see that bitcoin mostly moves in the same direction as the stock market. And I don't see any reasons for it to chance in the near future.

Instead of answering the serious questions that some have asked you, you are still shitposting without any sense - especially since someone in your other thread wrote the following :

Hey, what's going on with Bitcoin? I thought BTC was correlated with Nasdaq but is currently up 18% over weekend while Nasdaq is flat since Friday!

It's literally how prices on everything work, but it's not that simple. I highlight the reason why bitcoin won't go up until the economy will get rid of the existing problems and inflation is one of them (and the big one).

How do you explain that you were (so far) completely wrong with your speculations? You claimed yesterday "I still think that bitcoin will stay below 22k for a pretty long time and the signal that it will change will be much lower inflation and lowering of the interest rates.!" and three days ago "I was saying this before and I will say it again: bitcoin will go down and it MIGHT even go lower than 15k."

Maybe in the future you should be a little more careful about what you write, because even though most people won't understand it as financial advice, you can cause financial loss to some.

[adaseb]

I think what what happened last week inflation will keep going higher since the fed bailed out those banks and paused hikes or these bank runs won’t stop and we will get a nasty recession.

Right now with the new regulations which will come out. Banks will do what they can to keep deposits in the bank. And they also will be picky who they loan money out too. So it will make growth suffer.

Too early too tell. Wondering what tomorrow CPI will look like.

[dansus021]

Things that I hate is, Somehow United States Economic problem has an effect on an entire global nation. You know recent news that Silicon Valley Bank collapsed. made the second biggest Stablecoin USDC struggle to stay 1$ even though right now its considered to settle.

CNN made a live updates too - https://edition.cnn.com/business/live-news/silicon-valley-bank-collapse-updates-03-13-23/index.html

the economic news keep coming and yes we might not see 40K soon. Stay above or stable at 25K I think is good position right now.