Bitcoin Update - Crypto Outlook
Just perusing the internets and tweeters and airwaves and I have noticed some apparent bullish sentiment in crypto.
As such, I thought I would take a moment to provide an update to our coverage of crypto. My thought: don't get too excited down here. Bitcoin has responded negatively to interest rate hikes and the impending liquidity crisis developing around the world.
Could we get a bounce here? sure.
Is it the bottom? doubtful.
Think about this: bitcoin is -70% from ATH. What would it take to return to ATH? How much buying? Why would that ever happen, before seeing a recovery in other asset classes?
I suspect any remaining crypto bulls, from this point further, are acting from an emotional, political, or just flat out ignorant perspective.
Take care & God bless!
As such, I thought I would take a moment to provide an update to our coverage of crypto. My thought: don't get too excited down here. Bitcoin has responded negatively to interest rate hikes and the impending liquidity crisis developing around the world.
Could we get a bounce here? sure.
Is it the bottom? doubtful.
Think about this: bitcoin is -70% from ATH. What would it take to return to ATH? How much buying? Why would that ever happen, before seeing a recovery in other asset classes?
I suspect any remaining crypto bulls, from this point further, are acting from an emotional, political, or just flat out ignorant perspective.
Take care & God bless!
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