UPDATE: Monetary policy is driving Bitcoin
In December 2017 liquidity tightened and the world was a lot more hawkish. Interest rate sensitive assets dropped first as expected (housing etc) but also digital assets as less liquidity was in circulation with QT and rate hikes restricting prices rallies.
The inverse occurred in December as the Fed transitioned from hawkish to dovish and in tandem digital assets bottomed.
The inverse occurred in December as the Fed transitioned from hawkish to dovish and in tandem digital assets bottomed.
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