If we look at the chart above, Bitcoin must maintain a level where the occurrence of Higher High, Higher Low!
BUT!
Macro correlation and price action in Bitcoin are still very much needed because the crypto market is relatively new, there are still many who have high skepticism about the crypto market.
If we look at the news portals this week, many catalysts can push Bitcoin to go up; inflation in America is unstoppable (the funniest thing is the fed is still doing QE and increasing their balance sheet), and the CPI is high. Do they want their financial system to collapse? I don't think so, there is something hidden behind all this.
According to Investopedia, Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some time. The rise in the general level of prices is often expressed as a percentage, which means that a unit of currency effectively buys less than it did in prior periods.
The Government continues to print Dollars, there is a problem where the Dollar is no longer that valuable
And I want to ask all of you, when there is a problem, how to solve the problem? With a solution!
-Bitcoin legal tender
-Dollar backed by Gold
-(you name it)
The Government knows what they have to do, but when they don't, it goes back to the first narrative "The Government knows what they have to do!".
BUT!
Macro correlation and price action in Bitcoin are still very much needed because the crypto market is relatively new, there are still many who have high skepticism about the crypto market.
If we look at the news portals this week, many catalysts can push Bitcoin to go up; inflation in America is unstoppable (the funniest thing is the fed is still doing QE and increasing their balance sheet), and the CPI is high. Do they want their financial system to collapse? I don't think so, there is something hidden behind all this.
According to Investopedia, Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some time. The rise in the general level of prices is often expressed as a percentage, which means that a unit of currency effectively buys less than it did in prior periods.
The Government continues to print Dollars, there is a problem where the Dollar is no longer that valuable
And I want to ask all of you, when there is a problem, how to solve the problem? With a solution!
-Bitcoin legal tender
-Dollar backed by Gold
-(you name it)
The Government knows what they have to do, but when they don't, it goes back to the first narrative "The Government knows what they have to do!".
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