Bitcoin was born in 2009 in a 0-interest rate environment. This extremely speculative environment allowed assets like bitcoin to make crazy gains as loose monetary policy following the 2008 financial crisis gave everyone free cash to over-inflate asset valuations.
Interest rates are no longer at 0 and are only climbing higher. This shakes the underlying foundation of speculative markets like bitcoin that enabled this crazy growth in the first place.
In 2022 when the feds hiked interest rates aggressively for the first time in bitcoins lifetime, bitcoin dumped 75% in a single year. This was only a small taste of how the feds can affect these speculative markets and as they hike rates higher and higher Bitcoin will only aggressively dump more.
I think 5k-20k is a fair value range for Bitcoin. Also there is a massive double top.
Interest rates are no longer at 0 and are only climbing higher. This shakes the underlying foundation of speculative markets like bitcoin that enabled this crazy growth in the first place.
In 2022 when the feds hiked interest rates aggressively for the first time in bitcoins lifetime, bitcoin dumped 75% in a single year. This was only a small taste of how the feds can affect these speculative markets and as they hike rates higher and higher Bitcoin will only aggressively dump more.
I think 5k-20k is a fair value range for Bitcoin. Also there is a massive double top.
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